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GEOGRAPHICAL BREAKDOWN OF GROSS WRITTEN PREMIUM | 3 Months Ended
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Mar. 31, 2022
Insurance [Abstract] |
GEOGRAPHICAL BREAKDOWN OF GROSS WRITTEN PREMIUM | REINSURANCE The following table reflects amounts affecting the condensed consolidated statements of operations and comprehensive loss for reinsurance for the three months ended March 31, 2022 and 2021:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  | (dollars in millions)
Premiums written: |  |  |  |  |  |  |
Direct |  |  |  |  | $ | 173.5 |  |  | $ | 202.5 |
Assumed |  |  |  |  | 13.7 |  |  | — |
Ceded |  |  |  |  | (102.4) |  |  | (89.6) |
Net premiums written |  |  |  |  | $ | 84.8 |  |  | $ | 112.9 |
Premiums earned: |  |  |  |  |  |  |
Direct |  |  |  |  | $ | 165.5 |  |  | $ | 160.2 |
Assumed |  |  |  |  | 9.2 |  |  | — |
Ceded |  |  |  |  | (96.4) |  |  | (101.1) |
Net premiums earned |  |  |  |  | $ | 78.3 |  |  | $ | 59.1 |
Losses and LAE incurred: |  |  |  |  |  |  |
Direct |  |  |  |  | $ | 151.7 |  |  | $ | 129.2 |
Assumed |  |  |  |  | 11.2 |  |  | — |
Ceded |  |  |  |  | (66.2) |  |  | (69.3) |
Net losses and LAE incurred |  |  |  |  | $ | 96.7 |  |  | $ | 59.9 |
In the event that all or any of the reinsuring companies might be unable to meet their obligations under existing reinsurance agreements, we would be liable to the policyholder for such defaulted amounts. GEOGRAPHICAL BREAKDOWN OF GROSS WRITTEN PREMIUM Gross written premium by state is as follows for the three months ended March 31, 2022 and 2021:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  |  |  |  |  | Amount |  | % of Total |  | Amount |  | % of Total
State |  |  |  |  |  |  |  |  | (dollars in millions)
Texas(1) |  |  |  |  |  |  |  |  | $ | 37.3 |  |  | 19.9 | % |  | $ | 43.0 |  |  | 21.2 | %
Georgia |  |  |  |  |  |  |  |  | 18.8 |  | 10.0 |  |  | 19.0 |  | 9.4 |
Louisiana |  |  |  |  |  |  |  |  | 10.7 |  | 5.7 |  |  | 10.3 |  | 5.1 |
Colorado |  |  |  |  |  |  |  |  | 10.7 |  | 5.7 |  |  | 8.9 |  | 4.4 |
Pennsylvania |  |  |  |  |  |  |  |  | 10.0 |  | 5.3 |  |  | 10.4 |  | 5.1 |
Utah |  |  |  |  |  |  |  |  | 9.0 |  | 4.8 |  |  | 8.6 |  | 4.2 |
Nevada |  |  |  |  |  |  |  |  | 8.7 |  | 4.6 |  |  | 8.3 |  | 4.1 |
South Carolina |  |  |  |  |  |  |  |  | 7.1 |  | 3.8 |  |  | 6.1 |  | 3.0 |
Oklahoma |  |  |  |  |  |  |  |  | 6.3 |  | 3.4 |  |  | 6.6 |  | 3.3 |
Missouri |  |  |  |  |  |  |  |  | 6.0 |  | 3.2 |  |  | 7.9 |  | 3.9 |
All others states |  |  |  |  |  |  |  |  | 62.6 |  | 33.6 |  |  | 73.4 |  | 36.3 |
Total |  |  |  |  |  |  |  |  | $ | 187.2 |  |  | 100.0 | % |  | $ | 202.5 |  |  | 100.0 | %
______________ (1) Includes assumed premiums, which commenced in August 2021. Assumed written premium for the three months ended March 31, 2022 was $13.7 million. Prior to the fronting carrier commencement, we did not assume any premiums.

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- References No definition available. + Details
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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
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