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Reserve for Loss and Loss Expense | 3 Months Ended
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Mar. 31, 2021
Insurance Loss Reserves [Abstract] |
Reserve for Loss and Loss Expense | Reserve for Loss and Loss Expense The table below provides a roll forward of reserve for loss and loss expense balances:
|  | Quarter ended March 31,
($ in thousands) |  | 2021 |  | 2020
Gross reserve for loss and loss expense, at beginning of year |  | $ | 4,260,355 |  |  | 4,067,163 |
Less: reinsurance recoverable on unpaid loss and loss expense, at beginning of year 1 |  | 554,269 |  |  | 547,066 |
Net reserve for loss and loss expense, at beginning of year |  | 3,706,086 |  |  | 3,520,097 |
Incurred loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 447,170 |  |  | 407,276 |
Prior years |  | (33,769) |  |  | (6,952) |
Total incurred loss and loss expense |  | 413,401 |  |  | 400,324 |
Paid loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 80,158 |  |  | 70,610 |
Prior years |  | 243,687 |  |  | 281,736 |
Total paid loss and loss expense |  | 323,845 |  |  | 352,346 |
Net reserve for loss and loss expense, at end of period |  | 3,795,642 |  |  | 3,568,075 |
Add: Reinsurance recoverable on unpaid loss and loss expense, at end of period |  | 564,546 |  |  | 535,560 |
Gross reserve for loss and loss expense at end of period |  | $ | 4,360,188 |  |  | 4,103,635 |
1 First Quarter 2020 includes an adjustment of $2.9 million related to our adoption of ASU 2016-13, Financial Instruments - Credit Losses. Prior year reserve development in First Quarter 2021 was favorable by $33.8 million, which included $35.0 million of casualty reserve development that was partially offset by $1.2 million of unfavorable property reserve development. The favorable casualty reserve development included $15.0 million of development in our workers compensation lines of business, $15.0 million in our general liability line of business, and $5.0 million in our Excess and Surplus ("E&S") casualty lines of business. Prior year reserve development in First Quarter 2020 was favorable by $7.0 million and included $10.0 million of favorable casualty reserve development in our workers compensation line of business that was partially offset by $3.0 million of unfavorable property reserve development.

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- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2560295 + Details
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