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Other Assets (Tables)

9 Months Ended

Sep. 30, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Assets, Current and Long-term

As of September 30, 2024 and December 31, 2023, other assets, current and long-term, consisted of:

						September 30,						December 31,
						2024						2023
						in thousands
Prepaid Software as a Service implementation costs						$	36,169					$	21,941
Prepaid sales, general and administrative expenses						16,744						21,300
Deferred reinsurance premiums ceded (1)						21,867						10,474
Other investments						10,332						4,363
Contract costs						9,338						8,851
Reinsurance recoverable						7,803						2,783
Inventory (2)						8,947						5,038
Deferred financing costs						3,953						5,053
Accrued investment income						3,760						104
Other						13,792						7,419
Other assets						$	132,705					$	87,326

(1)    Deferred reinsurance premiums ceded consists of the unearned portion of premiums ceded by Hagerty Re to various reinsurers. Refer to Note 12 — Reinsurance for additional information on the Company's reinsurance programs.

(2)    Inventory primarily includes vehicles owned by Broad Arrow that have been purchased for resale purposes.

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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