XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.20.2

Liability for Unpaid Losses and Loss Adjustment Expenses | 6 Months Ended
--- | ---
Jun. 30, 2020
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 June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Balance at beginning of period | $ | 195,978 |  |  | $ | 366,356 |  |  | $ | 267,760 |  |  | $ | 472,829 |
Less: Reinsurance recoverable | (66,158) |  |  | (269,071) |  |  | (123,221) |  |  | (393,365) |
Net balance at beginning of period | 129,820 |  |  | 97,285 |  |  | 144,539 |  |  | 79,464 |
Incurred related to: |  |  |  |  |  |  |
Current year | 150,867 |  |  | 112,626 |  |  | 281,574 |  |  | 225,905 |
Prior years | 478 |  |  | 670 |  |  | 4,819 |  |  | 485 |
Total incurred | 151,345 |  |  | 113,296 |  |  | 286,393 |  |  | 226,390 |
Paid related to: |  |  |  |  |  |  |
Current year | 120,724 |  |  | 89,093 |  |  | 182,502 |  |  | 123,642 |
Prior years | 38,889 |  |  | 30,309 |  |  | 126,878 |  |  | 91,033 |
Total paid | 159,613 |  |  | 119,402 |  |  | 309,380 |  |  | 214,675 |
Net balance at end of period | 121,552 |  |  | 91,179 |  |  | 121,552 |  |  | 91,179 |
Plus: Reinsurance recoverable | 26,107 |  |  | 197,117 |  |  | 26,107 |  |  | 197,117 |
Balance at end of period | $ | 147,659 |  |  | $ | 288,296 |  |  | $ | 147,659 |  |  | $ | 288,296 |
For the three months ended June 30, 2020, there was adverse prior year reserve development of $11.6 million gross, less $11.1 million ceded, resulting in $0.5 million net. The net prior year reserve development for the quarter ended June 30, 2020 was principally due to increased ultimate losses and LAE for Hurricane Matthew. For the six months ended June 30, 2020, there was adverse prior year reserve development of $54.1 million gross, less $49.3 million ceded, resulting in $4.8 million net. The direct and net prior year reserve development for the six months ended June 30, 2020 was principally due to increased ultimate losses and LAE for Hurricane Irma.

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration