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RESERVE FOR LOSSES AND LOSS EXPENSES (DETAILS) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2011
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Dec. 31, 2010
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Dec. 31, 2009
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Dec. 31, 2008
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| RESERVE FOR LOSSES AND LOSS EXPENSES [Abstract] | ||||
| Reserve for reported losses and loss expenses | $ 3,019,372 | $ 2,097,484 | ||
| Reserve for losses incurred but not reported | 5,405,673 | 4,934,891 | ||
| Reserve for losses and loss expenses | $ 8,425,045 | $ 7,032,375 | $ 6,564,133 | $ 6,244,783 |
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- Details
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- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Estimated costs as of the balance sheet date of settling insured claims and costs incurred in the claims settlement process for claims that have not yet been submitted to the insurance company for reimbursement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Costs of settling insured claims and costs incurred in the claims settlement process for the specified year specifically for claims that have already been submitted to the insurance company for reimbursement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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