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Loss Reserves (Tables)

6 Months Ended

Jun. 30, 2025

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 six months ended June 30, 2025 and 2024:

		Six Months Ended June 30,
		2025				2024
		(in thousands)
Balance, beginning of period		$	651,309			$	673,994
Less amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses			112,742				119,746
Net balance, beginning of period			538,567				554,248
Add incurred related to:
Current accident year			98,170				97,326
Prior accident years			(17,351	)			(16,711	)
Total incurred			80,819				80,615
Less paid related to:
Current accident year			15,305				12,670
Prior accident years			90,805				74,940
Total paid			106,110				87,610
Net balance, end of period			513,276				547,253
Add amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses			110,819				116,732
Balance, end of period		$	624,095			$	663,985

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 six months ended June 30, 2025 and 2024.

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2025				2024				2025				2024
		(in thousands)
Balance, beginning of period		$	294			$	309			$	300			$	360
Provision for credit loss expense (benefit)			(4	)			13				(10	)			(38	)
Balance, end of period		$	290			$	322			$	290			$	322

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

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X

- References

No definition available.

+ Details

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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

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