Liability for Unpaid Losses and Loss Adjustment Expenses

3 Months Ended

Mar. 31, 2017

6. Liability for Unpaid Losses and Loss Adjustment Expenses

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
	March 31,
	2017			2016
Balance at beginning of period	$	58,494		$	98,840
Less: Reinsurance recoverable		(106	)		(13,540	)
Net balance at beginning of period		58,388			85,300
Incurred (recovered) related to:
Current year		70,474			66,101
Prior years		96			16
Total incurred		70,570			66,117
Paid related to:
Current year		22,890			18,618
Prior years		72,252			55,533
Total paid		95,142			74,151
Net balance at end of period		33,816			77,266
Plus: Reinsurance recoverable (payable)		(2,353	)		7,709
Balance at end of period	$	31,463		$	84,975