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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2016
Insurance [Abstract] |
Summary of Quota-Share Cession Rates by Reinsurance Program | The following table presents quota-share cession rates by reinsurance program and the years they were in effect:
Reinsurance Program |  | Cession Rate |
June 2012 - May 2013 |  |  | 45% |
June 2013 - May 2014 |  |  | 45% |
June 2014 - May 2015 |  |  | 30% |
June 2015 - May 2016 |  |  | 0% |
June 2016 - May 2017 |  |  | 0% |
Current Ratings from Rating Agencies and Unsecured Net Amounts Due from Reinsurers Whose Aggregate Balance Exceeded 3% of Stockholders' Equity | The following table presents ratings from rating agencies and the unsecured amounts due from the Company’s reinsurers whose aggregate balance exceeded 3% of the Company’s stockholders’ equity as of the dates presented (in thousands):
|  | Ratings as of December 31, 2016 |  |  |
|  |  |  | Standard |  |  |  |  |  |  |  |  |  |
|  |  |  | and Poor's |  | Moody's |  | Due from as of |
|  | AM Best |  | Rating |  | Investors |  | December 31, |
Reinsurer |  | Company |  | Services |  | Service, Inc. |  | 2016 |  |  | 2015 |
Florida Hurricane Catastrophe Fund |  | n/a |  | n/a |  | n/a |  | $ | 46,364 |  |  | $ | 42,086 |
Odyssey Reinsurance Company |  | A |  | A- |  | A3 |  |  | — |  |  |  | 18,742 |
Total (1) |  |  |  |  |  |  |  | $ | 46,364 |  |  | $ | 60,828 |
(1) | Amounts represent prepaid reinsurance premiums, reinsurance receivables, and net recoverables for paid and unpaid losses, including incurred but not reported reserves, loss adjustment expenses, and offsetting reinsurance payables.
n/a | No rating available, because entity is not rated.
Summary of Effects of Reinsurance Arrangements | The Company’s reinsurance arrangements had the following effect on certain items in the Consolidated Statements of Income for the periods presented (in thousands):
|  | For the Year Ended December 31, 2016 |
|  |  |  |  |  |  |  |  |  | Losses and Loss |
|  | Premiums |  |  | Premiums |  |  | Adjustment |
|  | Written |  |  | Earned |  |  | Expenses |
Direct |  | $ | 954,617 |  |  | $ | 921,227 |  |  | $ | 303,036 |
Ceded |  |  | (298,523 | ) |  |  | (288,811 | ) |  |  | (1,807 | )
Net |  | $ | 656,094 |  |  | $ | 632,416 |  |  | $ | 301,229 |
|  | For the Year Ended December 31, 2015 |
|  |  |  |  |  |  |  |  |  | Losses and Loss |
|  | Premiums |  |  | Premiums |  |  | Adjustment |
|  | Written |  |  | Earned |  |  | Expenses |
Direct |  | $ | 883,409 |  |  | $ | 836,792 |  |  | $ | 214,491 |
Ceded |  |  | (256,961 | ) |  |  | (332,793 | ) |  |  | (26,752 | )
Net |  | $ | 626,448 |  |  | $ | 503,999 |  |  | $ | 187,739 |
|  | For the Year Ended December 31, 2014 |
|  |  |  |  |  |  |  |  |  | Losses and Loss |
|  | Premiums |  |  | Premiums |  |  | Adjustment |
|  | Written |  |  | Earned |  |  | Expenses |
Direct |  | $ | 789,577 |  |  | $ | 777,317 |  |  | $ | 199,181 |
Ceded |  |  | (399,730 | ) |  |  | (450,440 | ) |  |  | (75,906 | )
Net |  | $ | 389,847 |  |  | $ | 326,877 |  |  | $ | 123,275 |
Prepaid Reinsurance Premiums and Reinsurance Recoverable and Receivable | The following prepaid reinsurance premiums and reinsurance recoverable and receivable are reflected in the Consolidated Balance Sheets as of the dates presented (in thousands):
|  | As of December 31, |
|  | 2016 |  |  | 2015 |
Prepaid reinsurance premiums |  | $ | 124,385 |  |  | $ | 114,673 |
Reinsurance recoverable on unpaid losses and LAE |  | $ | 106 |  |  | $ | 13,540 |
Reinsurance recoverable (payable) on paid losses |  |  | (1,532 | ) |  |  | 9,313 |
Reinsurance receivable, net |  |  | 186 |  |  |  | 353 |
Reinsurance recoverable (payable) and receivable |  | $ | (1,240 | ) |  | $ | 23,206 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
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- Definition Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 825 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28088331&loc=SL29635902-196195 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13537-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13531-108611 + Details
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