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Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2013

Insurance [Abstract]

Liability for Losses and Loss Adjustment Expenses

Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2013				2012				2013				2012
Balance, beginning of period		$	41,751				33,476				41,168				27,424
Incurred related to:
Current period			18,431				15,995				35,362				34,401
Prior period			(1,017	)			202				(2,076	)			964
Total incurred			17,414				16,197				33,286				35,365
Paid related to:
Current period			(9,520	)			(8,691	)			(13,252	)			(13,082	)
Prior period			(4,896	)			(3,669	)			(16,453	)			(12,394	)
Total paid			(14,416	)			(12,360	)			(29,705	)			(25,476	)
Balance, end of period		$	44,749				37,313				44,749				37,313

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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

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437

+ Details

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