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Insurance Operations (Tables)
 9 Months Ended
Sep. 30, 2012
Reinsurance/Insurance Operations [Abstract]  
Composition of Insurance Entities' aggregate policies-in-force
                 
    September 30, 2012     December 31, 2011  

Percentage of Policies-In-Force:

                

In Florida

     96 %      98 % 

With wind coverage

     98 %      98 % 

With wind coverage in South
Florida (1)

     29 %      32 % 

 

(1) South Florida is comprised of Miami-Dade, Broward and Palm Beach counties.
Beginning and ending balances and the changes in DPAC, net of DRCC
                                 
    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
    2012     2011     2012     2011  

DPAC, beginning of period (1)

   $ 56,922     $ 59,129     $ 50,200     $ 50,128  

Capitalized costs

     26,849       30,759       82,529       87,551  

Amortization of DPAC

     (26,606 )      (30,332 )      (75,564 )      (78,123 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

DPAC, end of period

   $ 57,165     $ 59,556     $ 57,165     $ 59,556  
   

 

 

    

 

 

    

 

 

    

 

 

  

DRCC, beginning of period (1)

   $ 39,178     $ 47,103     $ 38,845     $ 40,682  

Ceding commissions written

     21,082       21,220       65,857       69,109  

Earned ceding commissions

     (21,114 )      (21,780 )      (65,556 )      (63,248 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

DRCC, end of period

   $ 39,146     $ 46,543     $ 39,146     $ 46,543  
   

 

 

    

 

 

    

 

 

    

 

 

  

DPAC (DRCC), net, beginning of period (1)

   $ 17,744     $ 12,026     $ 11,355     $ 9,446  

Capitalized costs, net

     5,767       9,539       16,672       18,442  

Amortization of DPAC (DRCC), net

     (5,492 )      (8,552 )      (10,008 )      (14,875 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

DPAC (DRCC), net, end of period

   $ 18,019     $ 13,013     $ 18,019     $ 13,013  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) The beginning balances for the nine months ended September 30, 2012 have been adjusted in connection with the adoption of the FASB’s updated guidance related to deferred acquisition costs as discussed below.
Change in liability for unpaid losses and LAE
                                 
    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
    2012     2011     2012     2011  

Balance at beginning of period

   $ 164,625     $ 155,375     $ 187,215     $ 158,929  

Less reinsurance recoverable

     73,169       76,307       88,002       79,114  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net balance at beginning of period

     91,456       79,068       99,213       79,815  
   

 

 

    

 

 

    

 

 

    

 

 

  

Incurred related to:

                                

Current year

     27,409       24,975       83,120       76,897  

Prior years

     8,891       4,368       8,791       4,483  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total incurred

     36,300       29,343       91,911       81,380  
   

 

 

    

 

 

    

 

 

    

 

 

  

Paid related to:

                                

Current year

     18,808       15,244       34,143       30,119  

Prior years

     10,434       9,587       58,467       47,496  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total paid

     29,242       24,831       92,610       77,615  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net balance at end of period

     98,514       83,580       98,514       83,580  

Plus reinsurance recoverables

     74,160       79,374       74,160       79,374  
   

 

 

    

 

 

    

 

 

    

 

 

  

Balance at end of period

   $ 172,674     $ 162,954     $ 172,674     $ 162,954  
   

 

 

    

 

 

    

 

 

    

 

 

  
Statutory capital and surplus, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC
                 
    As of
September 30,
2012		     As of
December 31,
2011		  

Ten percent of total liabilities

                

UPCIC

   $ 45,312     $ 37,063  

APPCIC

   $ 688     $ 97  

Statutory capital and surplus

                

UPCIC

   $ 125,676     $ 122,956  

APPCIC

   $ 9,053     $ 9,378  
Assets held by insurance regulators
                 
    As of
September 30,
2012		     As of
December 31,
2011		  

Restricted cash and cash equivalents

   $ 54,295     $ 48,092  

Investments

   $ 4,008     $ 3,801