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Deferred Policy Acquisition Costs | 12 Months Ended
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Dec. 31, 2015
Insurance [Abstract] |
Deferred Policy Acquisition Costs |
4. | Deferred Policy Acquisition Costs
Deferred policy acquisition costs represent those costs that are incremental and directly related to the successful acquisition of new or the renewal of existing insurance contracts. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance contract. We also defer a portion of employee total compensation costs directly related to time spent performing specific acquisition or renewal activities. These costs are deferred and expensed over the life of the related policies. Major categories of the Company’s deferred policy acquisition costs are summarized as follows:
|  | December 31, |
|  | 2015 |  |  | 2014 |
|  | (in thousands) |
Agents’ commissions |  | $ | 15,997 |  |  | $ | 15,351 |
Premium taxes |  |  | 3,121 |  |  |  | 3,100 |
Deferred underwriting expenses |  |  | 1,294 |  |  |  | 1,198 |
Total deferred policy acquisition costs |  | $ | 20,412 |  |  | $ | 19,649 |
The following summarizes the activity in the deferred policy acquisition costs:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Balance, beginning of year |  | $ | 19,649 |  |  | $ | 19,171 |  |  | $ | 18,419 |
Policy acquisition costs deferred |  |  | 45,604 |  |  |  | 44,295 |  |  |  | 41,278 |
Amortization expense during the year |  |  | (44,841 | ) |  |  | (43,817 | ) |  |  | (40,526 | )
Balance, end of year |  | $ | 20,412 |  |  | $ | 19,649 |  |  | $ | 19,171 |

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- Definition The entire disclosure for deferred policy acquisition costs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35755530&loc=d3e11264-158415 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6481813&loc=d3e11407-158417 + Details
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