v3.22.2

Deferred Commission Expense (Notes)

6 Months Ended

Jun. 30, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Commission Expense

Deferred Commission Expense

The Company pays an incremental amount of compensation in the form of producer commissions on new business. In accordance with ASC Topic 340, Other Assets and Deferred Costs, these incremental costs are deferred and amortized over five years, which represents management’s estimate of the average benefit period for new business. Deferred commission expense represents employee commissions that are capitalized and not yet expensed and are included in other assets on the condensed consolidated balance sheets. The table below provides a rollforward of deferred commission expense for the periods presented:

						For the Three Months  Ended June 30,												For the Six Months  Ended June 30,
(in thousands)						2022						2021						2022						2021
Balance at beginning of period						$	14,039					$	5,164					$	11,336					$	4,751
Costs capitalized						3,238						1,351						6,868						2,186
Amortization						(1,079)						(479)						(2,006)						(901)
Balance at end of period						$	16,198					$	6,036					$	16,198					$	6,036

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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