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Reserve for Loss and Loss Expense | 9 Months Ended
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Sep. 30, 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:
|  | Nine Months ended September 30,
($ 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 |  | 1,408,240 |  |  | 1,295,285 |
Prior years |  | (67,947) |  |  | (43,210) |
Total incurred loss and loss expense |  | 1,340,293 |  |  | 1,252,075 |
Paid loss and loss expense for claims occurring in the: |  |  |  |
Current year |  | 430,288 |  |  | 421,981 |
Prior years |  | 675,782 |  |  | 646,974 |
Total paid loss and loss expense |  | 1,106,070 |  |  | 1,068,955 |
Net reserve for loss and loss expense, at end of period |  | 3,940,309 |  |  | 3,703,217 |
Add: Reinsurance recoverable on unpaid loss and loss expense, at end of period |  | 670,031 |  |  | 590,059 |
Gross reserve for loss and loss expense at end of period |  | $ | 4,610,340 |  |  | 4,293,276 |
1 Nine Months 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 Nine Months 2021 was favorable by $67.9 million, which included $66.0 million of casualty reserve development. The favorable casualty reserve development included $29.0 million in our general liability line of business, $28.0 million in our workers compensation line of business, $7.0 million in our Excess and Surplus ("E&S") casualty lines of business, and $2.0 million in our businessowners' policies line of business. Prior year reserve development in Nine Months 2020 was favorable by $43.2 million, which included $50.0 million of casualty reserve development, partially offset by $6.8 million of unfavorable property reserve development. The favorable casualty reserve development included $40.0 million in our workers compensation line of business and $20 million in our general liability line of business, partially offset by $10.0 million of unfavorable reserve development in our commercial automobile line of business.

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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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