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Reserve for Losses and Loss Expenses Reserves for Losses and Loss Expenses (Tables)

6 Months Ended

Jun. 30, 2017

Insurance Loss Reserves [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

		Six Months ended June 30,
($ in thousands)		2017				2016
Gross reserves for losses and loss expenses, at beginning of year		$	3,691,719			3,517,728
Less: reinsurance recoverable on unpaid losses and loss expenses, at beginning of year		611,200				551,019
Net reserves for losses and loss expenses, at beginning of year		3,080,519				2,966,709
Incurred losses and loss expenses for claims occurring in the:
Current year		684,877				624,159
Prior years		(25,846		)		(28,536	)
Total incurred losses and loss expenses		659,031				595,623
Paid losses and loss expenses for claims occurring in the:
Current year		171,724				146,849
Prior years		425,521				402,255
Total paid losses and loss expenses		597,245				549,104
Net reserves for losses and loss expenses, at end of period		3,142,305				3,013,228
Add: Reinsurance recoverable on unpaid losses and loss expenses, at end of period		588,916				576,941
Gross reserves for losses and loss expenses at end of period		$	3,731,221			3,590,169

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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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14764-158437

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