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Reserve for Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2025

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Schedule of Reconciliation of Beginning and Ending Reserve Balances for Losses and Loss Adjustment Expenses (LAE)

The following table provides a reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses (“LAE”) for the six months ended June 30:

(In thousands)						2025						2024
Reserve for losses and LAE at beginning of period						$	328,866					$	260,095
Less: Reinsurance recoverables						36,754						24,104
Net reserve for losses and LAE at beginning of period						292,112						235,991
Add provision for losses and LAE, net of reinsurance, occurring in:
Current period						96,403						70,584
Prior years						(48,061)						(61,005)
Net incurred losses and LAE during the current period						48,342						9,579
Deduct payments for losses and LAE, net of reinsurance, occurring in:
Current period						367						885
Prior years						17,403						10,118
Net loss and LAE payments during the current period						17,770						11,003
Net reserve for losses and LAE at end of period						322,684						234,567
Plus: Reinsurance recoverables						42,065						26,121
Reserve for losses and LAE at end of period						$	364,749					$	260,668

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- References

No definition available.

+ Details

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- 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://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-3

+ Details

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