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Insurance Operations (Tables)

6 Months Ended

Jun. 30, 2014

Insurance [Abstract]

Beginning and Ending Balances and Changes in DPAC, Net of DRCC

The following table presents the beginning and ending balances and the changes in DPAC, net of DRCC, for the periods presented (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2014				2013				2014				2013
DPAC, beginning of period		$	54,211			$	55,391			$	54,099			$	54,431
Capitalized Costs			29,993				30,241				56,775				58,933
Amortization of DPAC			(26,055	)			(26,599	)			(52,725	)			(54,331	)
DPAC, end of period		$	58,149			$	59,033			$	58,149			$	59,033
DRCC, beginning of period		$	38,318			$	38,014			$	38,200			$	37,149
Ceding Commissions Written			10,439				26,222				32,319				48,534
Earned Ceding Commissions			(18,685	)			(22,444	)			(40,447	)			(43,891	)
DRCC, end of period		$	30,072			$	41,792			$	30,072			$	41,792
DPAC (DRCC), net, beginning of period		$	15,893			$	17,377			$	15,899			$	17,282
Capitalized Costs, net			19,554				4,019				24,456				10,399
Amortization of DPAC (DRCC), net			(7,370	)			(4,155	)			(12,278	)			(10,440	)
DPAC (DRCC), net, end of period		$	28,077			$	17,241			$	28,077			$	17,241

Change in Liability for Unpaid Losses and LAE

Set forth in the following table is the change in liability for unpaid losses and LAE for the periods presented (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2014				2013				2014				2013
Balance at beginning of period		$	150,557			$	182,528			$	159,222			$	193,241
Less reinsurance recoverable			(64,109	)			(75,680	)			(68,584	)			(81,415	)
Net balance at beginning of period			86,448				106,848				90,638				111,826
Incurred (recovered) related to:
Current year			28,333				26,675				55,188				53,329
Prior years			(654	)			(1,476	)			(684	)			(1,647	)
Total incurred			27,679				25,199				54,504				51,682
Paid related to:
Current year			16,200				16,303				20,067				17,475
Prior years			12,007				17,304				39,155				47,593
Total paid			28,207				33,607				59,222				65,068
Net balance at end of period			85,920				98,440				85,920				98,440
Plus reinsurance recoverable			58,705				67,820				58,705				67,820
Balance at end of period		$	144,625			$	166,260			$	144,625			$	166,260

Statutory Capital and Surplus, and an Amount Representing Ten Percent of Total Liabilities for both UPCIC and APPCIC

The following table presents the amount of capital and surplus calculated in accordance with statutory accounting principles, which differ from GAAP, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC as of the dates presented (in thousands):

		June 30,				December 31,
		2014				2013
Ten percent of total liabilities
UPCIC		$	48,122			$	39,179
APPCIC		$	696			$	625
Statutory capital and surplus
UPCIC		$	167,862			$	161,803
APPCIC		$	13,287			$	13,708

Assets Held by Insurance Regulators

The following table represents assets held by insurance regulators as of the dates presented (in thousands):

		June 30,				December 31,
		2014				2013
Restricted cash and cash equivalents		$	2,635			$	2,600
Investments		$	3,772			$	3,707

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Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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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.

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Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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