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Insurance Operations (Tables)
 3 Months Ended
Mar. 31, 2013
Reinsurance/Insurance Operations [Abstract]  
Composition of Insurance Entities' aggregate policies-in-force
                 
    As of
March 31, 2013		     As of
December 31, 2012		  
     

Percentage of Policies-In-Force:

                

In Florida

     95 %      96 % 

With wind coverage

     98 %      98 % 

With wind coverage in South Florida (1)

     28 %      28 % 

 

(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 March 31,  
    2013     2012  

DPAC, beginning of period (1)

   $ 54,431     $ 50,200  

Capitalized Costs

     28,692       26,144  

Amortization of DPAC

     (27,732 )      (24,472 ) 
   

 

 

    

 

 

  

DPAC, end of period

   $ 55,391     $ 51,872  
   

 

 

    

 

 

  
     

DRCC, beginning of period (1)

   $ 37,149     $ 38,845  

Ceding Commissions Written

     22,312       20,506  

Earned Ceding Commissions

     (21,447 )      (19,277 ) 
   

 

 

    

 

 

  

DRCC, end of period

   $ 38,014     $ 40,074  
   

 

 

    

 

 

  
     

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

   $ 17,282     $ 11,355  

Capitalized Costs, net

     6,379       5,638  

Amortization of DPAC (DRCC), net

     (6,284 )      (5,195 ) 
   

 

 

    

 

 

  

DPAC (DRCC), net, end of period

   $ 17,377     $ 11,798  
   

 

 

    

 

 

  

 

(1) The beginning balances for the three months ended March 31, 2012 have been adjusted in connection with the adoption of the FASB’s updated guidance related to deferred policy acquisition costs as discussed below.
Change in liability for unpaid losses and LAE
                 
    Three Months Ended March 31,  
    2013     2012  
     

Balance at beginning of period

   $ 193,241     $ 187,215  

Less reinsurance recoverable

     (81,415 )      (88,002 ) 
   

 

 

    

 

 

  

Net balance at beginning of period

     111,826       99,213  
   

 

 

    

 

 

  

Incurred related to:

                

Current year

     26,654       26,350  

Prior years

     (171 )      (176 ) 
   

 

 

    

 

 

  

Total incurred

     26,483       26,174  
   

 

 

    

 

 

  

Paid related to:

                

Current year

     1,172       953  

Prior years

     30,289       31,419  
   

 

 

    

 

 

  

Total paid

     31,461       32,372  
   

 

 

    

 

 

  

Net balance at end of period

     106,848       93,015  

Plus reinsurance recoverable

     75,680       79,285  
   

 

 

    

 

 

  

Balance at end of period

   $ 182,528     $ 172,300  
   

 

 

    

 

 

  
Statutory capital and surplus, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC
                 
    As of
March 31, 2013		     As of
December 31, 2012		  

Ten percent of total liabilities

                

UPCIC

   $ 42,736     $ 39,260  

APPCIC

   $ 827     $ 694  
     

Statutory capital and surplus

                

UPCIC

   $ 135,696     $ 134,034  

APPCIC

   $ 14,505     $ 14,330  
Assets held by insurance regulators
                 
    As of     As of  
    March 31,     December 31,  
    2013     2012  

Restricted cash and cash equivalents

   $ 2,600     $ 33,009  

Investments

   $ 4,013     $ 4,009