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Liability for Unpaid Losses and Loss Adjustment Expenses | 9 Months Ended
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Sep. 30, 2019
Insurance [Abstract] |
Liability for Unpaid Losses and Loss Adjustment Expenses | 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 September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Balance at beginning of period | $ | 288,296 |  |  | $ | 151,916 |  |  | $ | 472,829 |  |  | $ | 248,425 |
Less: Reinsurance recoverable | (197,117 | ) |  | (96,733 | ) |  | (393,365 | ) |  | (182,405 | )
Net balance at beginning of period | 91,179 |  |  | 55,183 |  |  | 79,464 |  |  | 66,020 |
Incurred (recovered) related to: |  |  |  |  |  |  |  |  |
Current year | 129,353 |  |  | 85,986 |  |  | 355,258 |  |  | 249,488 |
Prior years | 3,218 |  |  | (39 | ) |  | 3,703 |  |  | 2,227 |
Total incurred | 132,571 |  |  | 85,947 |  |  | 358,961 |  |  | 251,715 |
Paid related to: |  |  |  |  |  |  |  |  |
Current year | 137,313 |  |  | 72,034 |  |  | 260,955 |  |  | 140,013 |
Prior years | 30,408 |  |  | 38,372 |  |  | 121,441 |  |  | 146,998 |
Total paid | 167,721 |  |  | 110,406 |  |  | 382,396 |  |  | 287,011 |
Net balance at end of period | 56,029 |  |  | 30,724 |  |  | 56,029 |  |  | 30,724 |
Plus: Reinsurance recoverable | 110,313 |  |  | 127,943 |  |  | 110,313 |  |  | 127,943 |
Balance at end of period | $ | 166,342 |  |  | $ | 158,667 |  |  | $ | 166,342 |  |  | $ | 158,667 |
During the nine months ended September 30, 2019, there was adverse prior year reserve development of $305.3 million gross, less $301.6 million ceded, resulting in $3.7 million net. Gross prior year reserve development was principally the result of an increase in estimated losses and LAE for Hurricane Irma claims, which were fully ceded. Net prior year adverse reserve development of $3.7 million principally resulted from a change in the allocation of estimated Hurricane Michael losses and LAE recoveries from the Non-Florida reinsurance coverage to the All States reinsurance coverage. The Non-Florida reinsurance coverage has a lower retention and the change in the allocation of reinsurance recoveries to the All States reinsurance coverage resulted in higher retained losses. There was no change to gross Hurricane Michael losses. For the nine months ended September 30, 2018, there was $311.7 million gross, less $309.5 million ceded, resulting in $2.2 million net of prior year reserve development principally reflecting an increase in estimated Hurricane Irma claims.

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- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2560295 + Details
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