XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Reinsurance | 9 Months Ended
--- | ---
Dec. 29, 2018
Insurance [Abstract] |
Reinsurance | Reinsurance Standard Casualty is primarily a specialty writer of manufactured home physical damage insurance. Certain of Standard Casualty's premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. The ceded reinsurance agreements provide Standard Casualty with increased capacity to write larger risks and maintain its exposure to loss within its capital resources. Standard Casualty remains obligated for amounts ceded in the event that the reinsurers do not meet their obligations. Substantially all of Standard Casualty's assumed reinsurance is with one entity. The effects of reinsurance on premiums written and earned are as follows (in thousands):
| Three Months Ended
| December 29, 2018 |  | December 30, 2017
| Written |  | Earned |  | Written |  | Earned
Direct premiums | $ | 4,190 |  |  | $ | 4,304 |  |  | $ | 3,796 |  |  | $ | 4,120 |
Assumed premiums—nonaffiliate | 5,860 |  |  | 6,385 |  |  | 5,428 |  |  | 6,296 |
Ceded premiums—nonaffiliate | (3,475 | ) |  | (3,475 | ) |  | (2,816 | ) |  | (2,816 | )
Net premiums | $ | 6,575 |  |  | $ | 7,214 |  |  | $ | 6,408 |  |  | $ | 7,600 |
| Nine Months Ended
| December 29, 2018 |  | December 30, 2017
| Written |  | Earned |  | Written |  | Earned
Direct premiums | $ | 12,551 |  |  | $ | 12,764 |  |  | $ | 11,790 |  |  | $ | 12,407 |
Assumed premiums—nonaffiliate | 19,074 |  |  | 18,969 |  |  | 17,898 |  |  | 18,889 |
Ceded premiums—nonaffiliate | (9,457 | ) |  | (9,457 | ) |  | (10,073 | ) |  | (10,073 | )
Net premiums | $ | 22,168 |  |  | $ | 22,276 |  |  | $ | 19,615 |  |  | $ | 21,223 |
Typical insurance policies written or assumed by Standard Casualty have a maximum coverage of $300,000 per claim, of which Standard Casualty cedes $175,000 of the risk of loss per reinsurance. Therefore, Standard Casualty's risk of loss is limited to $125,000 per claim on typical policies. Standard Casualty also purchases reinsurance for catastrophic losses in excess of $1.5 million per occurrence, up to a maximum of $43.5 million in the aggregate. Purchasing reinsurance contracts protects Standard Casualty from frequency and/or severity of losses incurred on insurance policies issued, such as in the case of a catastrophe that generates a large number of serious claims on multiple policies at the same time. Under these agreements, the Company is required to repurchase and reestablish its reinsurance contracts for the remainder of the year to the extent they are utilized.

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
Name: | us-gaap_ReinsuranceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration