XML 81 R14.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Losses and Loss Adjustment Expenses | 6 Months Ended
--- | ---
Jun. 30, 2012
Losses and Loss Adjustment Expenses [Abstract] |
Losses and Loss Adjustment Expenses | Note 7 – Losses and Loss Adjustment Expenses The liability for losses and loss adjustment expenses (“LAE”) is determined on an individual case basis for all claims reported. The liability also includes amounts for unallocated expenses, anticipated future claim development and losses incurred, but not reported. Activity in the liability for unpaid losses and LAE is summarized as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Balance, beginning of period |  | $ | 33,476 |  |  |  | 24,050 |  |  |  | 27,424 |  |  |  | 22,146 |
Incurred related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period |  |  | 15,995 |  |  |  | 6,696 |  |  |  | 34,401 |  |  |  | 15,432 |
Prior period |  |  | 202 |  |  |  | 3,827 |  |  |  | 964 |  |  |  | 5,494 |
Total incurred |  |  | 16,197 |  |  |  | 10,523 |  |  |  | 35,365 |  |  |  | 20,926 |
Paid related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period |  |  | (8,691 | ) |  |  | (6,475 | ) |  |  | (13,082 | ) |  |  | (8,128 | )
Prior period |  |  | (3,669 | ) |  |  | (3,125 | ) |  |  | (12,394 | ) |  |  | (9,971 | )
Total paid |  |  | (12,360 | ) |  |  | (9,600 | ) |  |  | (25,476 | ) |  |  | (18,099 | )
Balance, end of period |  | $ | 37,313 |  |  |  | 24,973 |  |  |  | 37,313 |  |  |  | 24,973 |
The Company writes insurance in the state of Florida, which could be exposed to hurricanes or other natural catastrophes. Although the occurrence of a major catastrophe could have a significant effect on our monthly or quarterly results, the Company believes that such an event would not be so material as to disrupt the overall normal operations of the Company. However, the Company is unable to predict the frequency or severity of any such events that may occur in the near term or thereafter.

X
- Details
Name: | us-gaap_InsuranceLossReservesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 3 -URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 94-5 -Paragraph 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Article 7 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 60 -Paragraph 60 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: 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 + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration