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Note 10 - Losses and Loss Adjustment Expense (Tables) | 3 Months Ended
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Mar. 31, 2019
Insurance Loss Reserves [Abstract] |
Reserve for Losses and LAE by Segment | Our reserve for losses and LAE, at the end of each period indicated, consisted of:
(In thousands) | March 31, 2019 |  | December 31, 2018
Mortgage insurance loss reserves | $ | 385,361 |  |  | $ | 397,891 |
Services loss reserves (1) | 3,423 |  |  | 3,470 |
Total reserve for losses and LAE | $ | 388,784 |  |  | $ | 401,361 |
______________________ (1) A majority of this amount is subject to reinsurance, with the related reinsurance recoverables reported in other assets in our condensed consolidated balance sheet, and relates to EnTitle Insurance. See Note 7 for information about our use of reinsurance in our title insurance business.
Mortgage Insurance Reserve for Losses and LAE by Category | The following table shows our mortgage insurance reserve for losses and LAE by category at the end of each period indicated:
(In thousands) | March 31, 2019 |  | December 31, 2018
Reserve for losses by category (1): |  |  |
Prime | $ | 240,489 |  |  | $ | 242,135 |
Alt-A and A minus and below | 111,955 |  |  | 119,553 |
IBNR and other | 13,008 |  |  | 13,864 |
LAE | 8,994 |  |  | 10,271 |
Total primary reserves | 374,446 |  |  | 385,823 |
Total pool reserves | 10,621 |  |  | 11,640 |
Total First-lien reserves | 385,067 |  |  | 397,463 |
Other (2) | 294 |  |  | 428 |
Total reserve for losses | $ | 385,361 |  |  | $ | 397,891 |
______________________
(1) | Includes ceded losses on reinsurance transactions, which are expected to be recovered and are included in the reinsurance recoverables reported in other assets in our condensed consolidated balance sheets. See Note 8.
(2) Does not include our second-lien premium deficiency reserve that is included in other liabilities.
Mortgage Insurance Reserve for Losses and LAE Rollforward | The following table presents information relating to our mortgage insurance reserve for losses, including our IBNR reserve and LAE, but excluding our second-lien mortgage loan premium deficiency reserve, for the periods indicated:
| Three Months Ended March 31,
(In thousands) | 2019 |  | 2018
Balance at beginning of period | $ | 397,891 |  |  | $ | 507,588 |
Less: Reinsurance recoverables (1) | 11,009 |  |  | 8,350 |
Balance at beginning of period, net of reinsurance recoverables | 386,882 |  |  | 499,238 |
Add: Losses and LAE incurred in respect of default notices reported and unreported in: |  |  |
Current year (2) | 38,922 |  |  | 36,516 |
Prior years | (18,173 | ) |  | 391 |
Total incurred | 20,749 |  |  | 36,907 |
Deduct: Paid claims and LAE related to: |  |  |
Current year (2) | 295 |  |  | 226 |
Prior years | 34,294 |  |  | 59,700 |
Total paid | 34,589 |  |  | 59,926 |
Balance at end of period, net of reinsurance recoverables | 373,042 |  |  | 476,219 |
Add: Reinsurance recoverables (1) | 12,319 |  |  | 8,973 |
Balance at end of period | $ | 385,361 |  |  | $ | 485,192 |
______________________
(1) | Related to ceded losses recoverable, if any, on reinsurance transactions. See Note 7 for additional information.
(2) Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default.

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- Definition The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(13)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + 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://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=99382578&loc=d3e14764-158437 + Details
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