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Reserve for Loss and Loss Expense (Tables)

6 Months Ended

Jun. 30, 2018

Insurance Loss Reserves [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

		Six Months ended June 30,
($ in thousands)		2018				2017
Gross reserve for loss and loss expense, at beginning of year		$	3,771,240			3,691,719
Less: reinsurance recoverable on unpaid loss and loss expense, at beginning of year		585,855				611,200
Net reserve for loss and loss expense, at beginning of year		3,185,385				3,080,519
Incurred loss and loss expense for claims occurring in the:
Current year		756,855				684,877
Prior years		(5,586		)		(25,846	)
Total incurred loss and loss expense		751,269				659,031
Paid loss and loss expense for claims occurring in the:
Current year		214,169				171,724
Prior years		457,441				425,521
Total paid loss and loss expense		671,610				597,245
Net reserve for loss and loss expense, at end of period		3,265,044				3,142,305
Add: Reinsurance recoverable on unpaid loss and loss expense, at end of period		539,321				588,916
Gross reserve for loss and loss expense at end of period		$	3,804,365			3,731,221

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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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