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Insurance Operations (Tables)

9 Months Ended

Sep. 30, 2016

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								Nine Months Ended
	September 30,								September 30,
	2016				2015				2016				2015
DPAC, beginning of period	$	67,190			$	62,181			$	60,019			$	54,603
Capitalized Costs		33,227				30,846				100,444				91,135
Amortization of DPAC		(32,117	)			(30,024	)			(92,163	)			(82,735	)
DPAC, end of period	$	68,300			$	63,003			$	68,300			$	63,003
DRCC, beginning of period	$	—			$	-			$	—			$	28,943
Ceding Commissions Written		—				—				—				(5,276	)
Earned Ceding Commissions		—				—				—				(23,667	)
DRCC, end of period	$	—			$	—			$	—			$	—
DPAC (DRCC), net, beginning of period	$	67,190			$	62,181			$	60,019			$	25,660
Capitalized Costs, net		33,227				30,846				100,444				96,411
Amortization of DPAC (DRCC), net		(32,117	)			(30,024	)			(92,163	)			(59,068	)
DPAC (DRCC), net, end of period	$	68,300			$	63,003			$	68,300			$	63,003

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								Nine Months Ended
	September 30,								September 30,
	2016				2015				2016				2015
Balance at beginning of period	$	60,144			$	112,117			$	98,840			$	134,353
Less: Reinsurance recoverable		(2,958	)			(31,777	)			(13,540	)			(47,350	)
Net balance at beginning of period		57,186				80,340				85,300				87,003
Incurred (recovered) related to:
Current year		73,701				54,014				199,886				127,211
Prior years		(173	)			(160	)			(158	)			(66	)
Total incurred		73,528				53,854				199,728				127,145
Paid related to:
Current year		73,332				41,818				145,991				72,438
Prior years		5,077				10,777				86,732				60,111
Total paid		78,409				52,595				232,723				132,549
Net balance at end of period		52,305				81,599				52,305				81,599
Plus: Reinsurance recoverable		1,904				19,460				1,904				19,460
Balance at end of period	$	54,209			$	101,059			$	54,209			$	101,059

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 U.S. GAAP, and an amount representing ten percent of total liabilities for both UPCIC and APPCIC as of the dates presented (in thousands):

	September 30,				December 31,
	2016				2015
Ten percent of total liabilities
UPCIC	$	65,976			$	55,928
APPCIC	$	512			$	463
Statutory capital and surplus
UPCIC	$	311,202			$	256,987
APPCIC	$	14,967			$	14,777

Assets Held by Insurance Regulators

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

	September 30,				December 31,
	2016				2015
Restricted cash and cash equivalents	$	2,635			$	2,635
Investments	$	3,977			$	3,876

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+ References

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 40
-Section 50
-Paragraph 3
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- Definition

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.

+ References

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-Publisher FASB
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