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Reserve for Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 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 nine months ended September 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						159,447						124,180
Prior years						(66,183)						(83,935)
Net incurred losses and LAE during the current period						93,264						40,245
Deduct payments for losses and LAE, net of reinsurance, occurring in:
Current period						918						1,824
Prior years						35,376						17,062
Net loss and LAE payments during the current period						36,294						18,886
Net reserve for losses and LAE at end of period						349,082						257,350
Plus: Reinsurance recoverables						48,056						30,966
Reserve for losses and LAE at end of period						$	397,138					$	288,316

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- References

No definition available.

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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

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