XML 30 R24.htm IDEA: XBRL DOCUMENT
v3.24.3

Loss Reserves (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Insurance [Abstract] |
Liability for Unpaid Loss and Loss Adjustment Expenses, Net of Related Amounts Recoverable from Reinsurers | The following table provides the Company’s liability for unpaid loss and loss adjustment expenses, net of related amounts recoverable from reinsurers, for the nine months ended September 30, 2024 and 2023:
|  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Balance, beginning of period |  | $ | 673,994 |  |  | $ | 696,037 |
Less amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses |  |  | 119,746 |  |  |  | 112,555 |
Net balance, beginning of period |  |  | 554,248 |  |  |  | 583,482 |
Add incurred related to: |  |  |  |  |  |
Current accident year |  |  | 144,931 |  |  |  | 143,003 |
Prior accident years |  |  | (25,166 | ) |  |  | (31,195 | )
Total incurred |  |  | 119,765 |  |  |  | 111,808 |
Less paid related to: |  |  |  |  |  |
Current accident year |  |  | 29,872 |  |  |  | 28,074 |
Prior accident years |  |  | 102,082 |  |  |  | 104,602 |
Total paid |  |  | 131,954 |  |  |  | 132,676 |
Net balance, end of period |  |  | 542,059 |  |  |  | 562,614 |
Add amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses |  |  | 121,427 |  |  |  | 121,734 |
Balance, end of period |  | $ | 663,486 |  |  | $ | 684,348 |
Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers | The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the three and nine months ended September 30, 2024 and 2023.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |
Balance, beginning of period |  | $ | 322 |  |  | $ | 338 |  |  | $ | 360 |  |  | $ | 372 |
Provision for credit loss expense (benefit) |  |  | 8 |  |  |  | 5 |  |  |  | (30 | ) |  |  | (29 | )
Balance, end of period |  | $ | 330 |  |  | $ | 343 |  |  | $ | 330 |  |  | $ | 343 |

X
- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration