XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Unpaid Losses and Loss Adjustment Reserve | 3 Months Ended
--- | ---
Mar. 31, 2024
Liability for Claims and Claims Adjustment Expense [Abstract] |
Unpaid Losses and Loss Adjustment Reserve | Note 11. Unpaid Losses and Loss Adjustment Reserve The following table summarizes the changes in the reserve balances for unpaid losses and LAE, gross of reinsurance, for the three months ended March 31, 2024:
Reserve for unpaid losses and LAE at December 31, 2023 | $ | 95,503
Reinsurance recoverables on losses and LAE at December 31, 2023 | (19,808) |
Reserve for unpaid losses and LAE reserve, net of reinsurance recoverables at December 31, 2023 | 75,695
Add provisions (reductions) for losses and LAE occurring in: |
Current year | 67,135
Prior years | 1,798
Net incurred losses and LAE during the current year | 68,933
Deduct payments for losses and LAE occurring in: |
Current year | (19,242) |
Prior years (1) | (31,382) |
Net claim and LAE payments during the current year | (50,624) |
Reserve for losses and LAE, net of reinsurance recoverables at March 31, 2024 | 94,004
Reinsurance recoverables on losses and LAE at March 31, 2024 | (18,556)
Reserve for unpaid losses and LAE at March 31, 2024 | $ | 112,560
______________________________________ (1)Also includes certain charges related to Vesttoo (see Note 10). As a result of additional information on claims occurring in prior years becoming available to management, changes in estimates of provisions of losses and loss adjustment expenses were made resulting in an increase of $1.8 million for the three months ended March 31, 2024.

X
- References No definition available. + Details
Name: | us-gaap_LiabilityForClaimsAndClaimsAdjustmentExpenseAbstract
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/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//944-40/tableOfContent + Details
Name: | us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration