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Subsequent Events | 12 Months Ended
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Dec. 31, 2014
Subsequent Events [Abstract] |
Subsequent Events |
21. | Subsequent Events
On February 11, 2015, the Company was notified of an adverse verdict against its subsidiary, American Interstate Insurance Company, related to a 2009 workers’ compensation claim in the State of Iowa. The verdict was for $25.3 million, of which $0.3 million was actual damages and $25.0 million was punitive damages. For the fourth quarter of 2014, the Company recognized an additional $0.3 million in reserves related to this claim. As of December 31, 2014, the Company’s total reserve for the claim was $2.7 million. The Company presently believes that this reserve amount, together with its reinsurance coverage, is adequate to satisfy this claim. American Interstate will appeal this verdict. On February 24, 2015 the Company declared a regular quarterly cash dividend of $0.15 per share payable on March 27, 2015 to shareholders of record on March 13, 2015. In 2014, the Company paid a quarterly cash dividend of $0.12 per share. The Board intends to continue to consider the payment of a regular cash dividend each calendar quarter. On an annualized basis, the cash dividend is expected to be $0.60 per share.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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