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Property and Casualty Insurance Reserves (Tables)

9 Months Ended

Sep. 30, 2016

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Liability for Unpaid Claims Adjustment Expense by Expense Type [Table Text Block]

Property and casualty insurance reserve activity for the nine months ended September 30, 2016 and 2015 was:

		Nine Months Ended
(Dollars in Millions)		Sep 30, 2016				Sep 30, 2015
Property and Casualty Insurance Reserves:
Gross of Reinsurance and Indemnification 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 and Indemnification at Beginning of Year		810.8				679.0
Property and Casualty Insurance Reserves Acquired, Net of Reinsurance and Indemnification		—				125.4
Incurred Losses and LAE Related to:
Current Year:
Continuing Operations		1,031.1				795.1
Prior Years:
Continuing Operations		(17.7		)		(12.8		)
Discontinued Operations		(3.3		)		(3.5		)
Total Incurred Losses and LAE Related to Prior Years		(21.0		)		(16.3		)
Total Incurred Losses and LAE		1,010.1				778.8
Paid Losses and LAE Related to:
Current Year:
Continuing Operations		583.2				483.9
Prior Years:
Continuing Operations		360.8				295.4
Discontinued Operations		5.3				5.9
Total Paid Losses and LAE Related to Prior Years		366.1				301.3
Total Paid Losses and LAE		949.3				785.2
Property and Casualty Insurance Reserves - Net of Reinsurance and Indemnification at End of Period		871.6				798.0
Plus Reinsurance and Indemnification Recoverables at End of Period		49.1				54.9
Property and Casualty Insurance Reserves - Gross of Reinsurance and Indemnification at End of Period		$	920.7			$	852.9

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- References

No definition available.

+ Details

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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://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=65670824&loc=d3e14764-158437

+ Details

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