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Property and Casualty Insurance Reserves | 3 Months Ended
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Mar. 31, 2016
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract] |
Property and Casualty Insurance Reserves | Note 3 - Property and Casualty Insurance Reserves Property and casualty insurance reserve activity for the three months ended March 31, 2016 and 2015 was:
|  | Three Months Ended
(Dollars in Millions) |  | Mar 31, 2016 |  | Mar 31, 2015
Property and Casualty Insurance Reserves: |  |  |  |
Gross of Reinsurance at Beginning of Year |  | $ | 862.8 |  |  | $ | 733.9 |
Less Reinsurance and Indemnification Recoverables at Beginning of Year |  | 52.0 |  |  | 54.9 |
Property and Casualty Insurance Reserves - Net of Reinsurance at Beginning of Year |  | 810.8 |  |  | 679.0 |
Incurred Losses and LAE Related to: |  |  |  |
Current Year: |  |  |  |
Continuing Operations |  | 341.7 |  |  | 214.2 |
Prior Years: |  |  |  |
Continuing Operations |  | 2.7 |  |  | (7.4 | )
Discontinued Operations |  | (0.1 | ) |  | — |
Total Incurred Losses and LAE Related to Prior Years |  | 2.6 |  |  | (7.4 | )
Total Incurred Losses and LAE |  | 344.3 |  |  | 206.8 |
Paid Losses and LAE Related to: |  |  |  |
Current Year: |  |  |  |
Continuing Operations |  | 120.1 |  |  | 91.1 |
Prior Years: |  |  |  |
Continuing Operations |  | 180.8 |  |  | 126.0 |
Discontinued Operations |  | 3.1 |  |  | 1.8 |
Total Paid Losses and LAE Related to Prior Years |  | 183.9 |  |  | 127.8 |
Total Paid Losses and LAE |  | 304.0 |  |  | 218.9 |
Property and Casualty Insurance Reserves - Net of Reinsurance and Indemnification at End of Period |  | 851.1 |  |  | 666.9 |
Plus Reinsurance and Indemnification Recoverables at End of Period |  | 49.3 |  |  | 53.2 |
Property and Casualty Insurance Reserves - Gross of Reinsurance at End of Period |  | $ | 900.4 |  |  | $ | 720.1 |
Note 3 - Property and Casualty Insurance Reserves (continued) Property and casualty insurance reserves are estimated based on historical experience patterns and current economic trends. Actual loss experience and loss trends are likely to differ from these historical experience patterns and economic conditions. Loss experience and loss trends emerge over several years from the dates of loss inception. The Company monitors such emerging loss trends on a quarterly basis. Changes in such estimates are included in the Condensed Consolidated Statements of Operations in the period of change. For the three months ended March 31, 2016, the Company increased its property and casualty insurance reserves by $2.6 million to recognize adverse development of loss and LAE reserves from prior accident years. Personal lines insurance loss and LAE reserves developed adversely by $5.1 million, and commercial lines insurance loss and LAE reserves developed favorably by $2.5 million. The commercial lines insurance loss and LAE reserve development included favorable development of $2.4 million from continuing operations and favorable development of $0.1 million from discontinued operations. Personal automobile insurance loss and LAE reserves developed adversely by $9.6 million, homeowners insurance loss and LAE reserves developed favorably by $5.1 million, including $2.4 million of favorable development on catastrophes, and other personal lines loss and LAE reserves developed adversely by $0.6 million. Personal lines insurance loss and LAE reserves developed adversely due primarily to the emergence of worse than expected loss patterns for the 2015 and 2014 accident years, partially offset by the emergence of more favorable loss patterns than expected for the 2013 and prior accident years. For the three months ended March 31, 2015, the Company reduced its property and casualty insurance reserves by $7.4 million to recognize favorable development of loss and LAE reserves from prior accident years. Personal lines insurance loss and LAE reserves developed favorably by $7.2 million, and commercial lines insurance loss and LAE reserves developed favorably by $0.2 million. Personal automobile insurance loss and LAE reserves developed favorably by $5.1 million, homeowners insurance loss and LAE reserves developed favorably by $2.6 million, and other personal lines loss and LAE reserves developed adversely by $0.5 million. Personal lines insurance loss and LAE reserves developed favorably due primarily to the emergence of more favorable loss patterns than expected for the 2013 and 2012 accident years, partially offset by the emergence of worse loss patterns than expected for the 2014 accident year. The Company cannot predict whether loss and LAE reserves will develop favorably or unfavorably from the amounts reported in the Company’s Condensed Consolidated Financial Statements. The Company believes that any such development will not have a material effect on the Company’s consolidated shareholders’ equity, but could have a material effect on the Company’s consolidated financial results for a given period.

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- References No definition available. + Details
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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6482852&loc=d3e14931-158439 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14754-158437 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.13(a)(1),(b)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437 + Details
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