XML 25 R11.htm IDEA: XBRL DOCUMENT
v3.20.2

Reserves for Insurance Losses and Loss Adjustment Expenses | 6 Months Ended
--- | ---
Jun. 30, 2020
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] |
Reserves for Insurance Losses and Loss Adjustment Expenses | Reserves for Insurance Losses and Loss Adjustment Expenses The following table shows a rollforward of our reserves for insurance losses and loss adjustment expenses.
($ in millions) |  | 2020 |  | 2019
Total gross reserves for insurance losses and loss adjustment expenses at January 1, |  | $ | 122 |  |  | $ | 134 |
Less: Reinsurance recoverable |  | 88 |  |  | 96 |
Net reserves for insurance losses and loss adjustment expenses at January 1, |  | 34 |  |  | 38 |
Net insurance losses and loss adjustment expenses incurred related to: |  |  |  |
Current year |  | 215 |  |  | 186 |
Prior years (a) |  | 1 |  |  | — |
Total net insurance losses and loss adjustment expenses incurred |  | 216 |  |  | 186 |
Net insurance losses and loss adjustment expenses paid or payable related to: |  |  |  |
Current year |  | (178 | ) |  | (134 | )
Prior years |  | (26 | ) |  | (27 | )
Total net insurance losses and loss adjustment expenses paid or payable |  | (204 | ) |  | (161 | )
Net reserves for insurance losses and loss adjustment expenses at June 30, |  | 46 |  |  | 63 |
Plus: Reinsurance recoverable |  | 86 |  |  | 90 |
Total gross reserves for insurance losses and loss adjustment expenses at June 30, |  | $ | 132 |  |  | $ | 153 |
(a) There have been no material adverse changes to the reserve for prior years.

X
- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ShortdurationInsuranceContractsLiabilityForUnpaidClaimsAndAllocatedClaimAdjustmentExpenseNetAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration