XML 40 R28.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2024

Insurance [Abstract]

Schedule of Changes 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 March 31,
			2024						2023
Balance at beginning of period			$	510,117					$	1,038,790
Less: Reinsurance recoverable			(183,435)						(798,680)
Net balance at beginning of period			326,682						240,110
Incurred related to:
Current year			240,187						202,836
Prior years			—						3,318
Total incurred			240,187						206,154
Paid related to:
Current year			96,333						67,783
Prior years			141,943						178,020
Total paid			238,276						245,803
Net balance at end of period			328,593						200,461
Plus: Reinsurance recoverable			101,036						669,946
Balance at end of period			$	429,629					$	870,407

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

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-3

+ Details

Name:	us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration