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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2023
Insurance [Abstract] |
Schedule of Effects of Reinsurance | The following table reflects amounts affecting the consolidated statements of operations and comprehensive loss for ceded reinsurance (in millions):
| For the Year Ended December 31,
| 2023 |  | 2022
| Written Premiums |  | Earned Premiums |  | Loss and LAE Incurred |  | Written Premiums |  | Earned Premiums |  | Loss and LAE Incurred
Direct | $ | 834.6 |  |  | $ | 760.5 |  |  | $ | 531.8 |  |  | $ | 628.3 |  |  | $ | 541.1 |  |  | $ | 409.6 |
Assumed | 12.7 |  |  | 8.8 |  |  | 11.7 |  |  | 1.6 |  |  | 0.4 |  |  | 0.1 |
Gross | 847.3 |  |  | 769.3 |  |  | 543.5 |  |  | 629.9 |  |  | 541.5 |  |  | 409.7 |
Ceded | (687.7) |  |  | (661.8) |  |  | (361.8) |  |  | (580.3) |  |  | (499.0) |  |  | (308.3) |
Net | $ | 159.6 |  |  | $ | 107.5 |  |  | $ | 181.7 |  |  | $ | 49.6 |  |  | $ | 42.5 |  |  | $ | 101.4 |
Schedule of Reinsurance Recoverable | Amounts recoverable from reinsurers are recognized in a manner consistent with the claims liabilities associated with the reinsurance placement and presented on the balance sheet as reinsurance recoverable on paid and unpaid losses and LAE. Such balance is presented in the table below (in millions).
| December 31,
| 2023 |  | 2022
Reinsurance recoverable on paid loss | $ | 59.9 |  |  | $ | 57.5 |
Ceded unpaid loss and LAE | 221.4 |  | 228.8
Total reinsurance recoverable | $ | 281.3 |  |  | $ | 286.3 |
Schedule of Ceded Credit Risk | The Company has the following unsecured reinsurance recoverable and prepaid reinsurance premium balances from reinsurers (in millions):
|  |  |  | December 31,
AM Best Rating |  | Reinsurer |  | 2023 |  | 2022
A+ |  | Munich Reinsurance America, Inc. |  | $ | 60.0 |  |  | $ | 34.3 |
A+ |  | Hannover Rück SE |  | 56.9 |  |  | 49.9 |
A+ |  | Everest Reinsurance Company |  | 41.6 |  |  | 55.3 |
A+ |  | Digital Advantage Insurance Company |  | 24.1 |  |  | 19.4 |
A+ |  | Swiss Reinsurance America Corporation |  | 18.3 |  |  | 14.0 |
A+ |  | Partner Reinsurance Company of the U.S. |  | 14.9 |  |  | 15.0 |
A+ |  | Sirius America Insurance Company |  | 12.5 |  |  | 7.8 |
|  |  |  | $ | 228.3 |  |  | $ | 195.7 |
|  | Other reinsurers |  | 143.1 |  |  | 160.3 |
|  |  |  | $ | 371.4 |  |  | $ | 356.0 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 605 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479655/944-605-50-1 + Details
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- Definition Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 1B -SubTopic 825 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479383/944-825-50-1B + Details
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