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Indebtedness | 9 Months Ended
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Sep. 30, 2016
Debt Disclosure [Abstract] |
Indebtedness | NOTE 5. Indebtedness During Nine Months 2016, Selective Insurance Company of America ("SICA") borrowed the following short-term funds from the FHLBNY:
• | $25 million on February 26, 2016 at an interest rate of 0.59%, which was repaid on March 18, 2016;
• | $15 million on April 7, 2016 at an interest rate of 0.52%, which was repaid on April 28, 2016; and
• | $15 million on April 28, 2016 at an interest rate of 0.53%, which was repaid on May 19, 2016.
During Nine Months 2016, SICA borrowed the following long-term funds from the FHLBNY:
• | $25 million on July 21, 2016 at an interest rate of 1.61%, which is due on July 21, 2021; and
• | $25 million on August 15, 2016 at an interest rate of 1.56%, which is due on August 16, 2021.
Additionally, in Third Quarter 2016, Selective Insurance Company of the Southeast and Selective Insurance Company of South Carolina repaid their $15 million outstanding aggregate borrowing from the FHLBI. For further information on our indebtedness, see Note 10. "Indebtedness" in Item 8. "Financial Statements and Supplementary Data." of our 2015 Annual Report.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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