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Loss And Loss Adjustment Expense Reserves (Tables)

6 Months Ended

Jun. 30, 2019

Insurance Loss Reserves [Abstract]

Activity In The Reserves For Losses And Loss Adjustment Expenses

The following table presents the activity in loss and loss adjustment expense reserves:

	Six Months Ended June 30,
	2019				2018
	(Amounts in thousands)
Gross reserves at January 1	$	1,829,412			$	1,510,613
Less reinsurance recoverables on unpaid losses	(180,859		)		(64,001		)
Net reserves at January 1	1,648,553				1,446,612
Incurred losses and loss adjustment expenses related to:
Current year	1,276,235				1,173,862
Prior years	10,758				63,919
Total incurred losses and loss adjustment expenses	1,286,993				1,237,781
Loss and loss adjustment expense payments related to:
Current year	701,282				640,496
Prior years	557,457				540,803
Total payments	1,258,739				1,181,299
Net reserves at June 30	1,676,807				1,503,094
Reinsurance recoverables on unpaid losses	107,117				46,756
Gross reserves at June 30	$	1,783,924			$	1,549,850

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=99382578&loc=d3e14764-158437

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