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Loss and loss adjustment expense reserves | 9 Months Ended
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Sep. 30, 2014
Loss and Loss Adjustment Expense Reserves [Abstract] |
Loss and loss adjustment expense reserves | Loss and loss adjustment expense reserves As of September 30, 2014 and December 31, 2013, loss and loss adjustment expense reserves in the condensed consolidated balance sheets was comprised of the following:
| September 30, 2014 |  | December 31, 2013
| ($ in thousands)
Case loss and loss adjustment expense reserves | $ | 50,868 |  |  | $ | 34,307 |
Incurred but not reported loss and loss adjustment expense reserves | 136,445 |  |  | 100,024 |
| $ | 187,313 |  |  | $ | 134,331 |
The following table represents the activity in the reserve for losses and loss adjustment expenses for the nine months ended September 30, 2014 and 2013:
| September 30, 2014 |  | September 30, 2013
| ($ in thousands)
Gross reserves for loss and loss adjustment expenses, beginning of period | $ | 134,331 |  |  | $ | 67,271 |
Less: loss and loss adjustment expenses recoverable, beginning of period | (9,277 | ) |  | — |
Net reserves for loss and loss adjustment expenses, beginning of period | 125,054 |  |  | 67,271 |
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: |  |  |
Current year | 149,325 |  |  | 107,279 |
Prior years' | 1,458 |  |  | (3,600 | )
Total incurred loss and loss adjustment expenses | 150,783 |  |  | 103,679 |
Net loss and loss adjustment expenses paid in respect of losses occurring in: |  |  |
Current year | (41,538 | ) |  | (14,951 | )
Prior years' | (48,398 | ) |  | (18,576 | )
Total net paid losses | (89,936 | ) |  | (33,527 | )
Net reserve for loss and loss adjustment expenses, end of period | 185,901 |  |  | 137,423 |
Plus: loss and loss adjustment expenses recoverable, end of period | 1,412 |  |  | 6,284 |
Gross reserve for loss and loss adjustment expenses, end of period | $ | 187,313 |  |  | $ | 143,707 |
The $1.5 million increase in prior years' reserves for the nine months ended September 30, 2014 reflects $0.9 million of net adverse reserve development and $0.6 million of additional reserves for loss and loss adjustment expenses resulting from premium increases on certain contracts. The changes in loss and loss adjustment expense reserves related to premium estimate changes were accompanied by similar changes in the premium earned for those contracts, resulting in minimal impact to net underwriting income in both periods. The $3.6 million decrease in prior years' reserves recorded in the nine months ended September 30, 2013 related primarily to one crop contract, which was accompanied by an equal decrease in the premium written and earned for that contract, resulting in a minimal impact to underwriting income.

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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 SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Article 7 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 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 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 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
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