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LIABILITY FOR UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES (Tables)

9 Months Ended

Sep. 30, 2025

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 September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Balance at beginning of period			$	765,855					$	344,648					$	959,291					$	510,117
Less: Reinsurance recoverables			(336,627)						(33,121)						(561,936)						(183,435)
Net balance at beginning of period			429,228						311,527						397,355						326,682
Incurred related to:
Current year			248,367						319,152						759,156						802,911
Prior years			3,912						(2,197)						3,983						(2,197)
Total incurred			252,279						316,955						763,139						800,714
Paid related to:
Current year			169,552						177,963						377,862						425,970
Prior years			87,721						81,321						358,398						332,228
Total paid			257,273						259,284						736,260						758,198
Net balance at end of period			424,234						369,198						424,234						369,198
Plus: Reinsurance recoverables			258,355						91,239						258,355						91,239
Balance at end of period			$	682,589					$	460,437					$	682,589					$	460,437

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- References

No definition available.

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- 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

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