XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.21.2

Liabilities for Losses and Loss Expenses (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Text Block [Abstract] |
Summary of Insurance Subsidiaries' Liabilities for Losses and Loss Expenses | We summarize activity in our insurance subsidiaries’ liabilities for losses and loss expenses as follows:
|  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |
|  | (in thousands) |
Balance at January 1 |  | $ | 962,007 |  |  | $ | 869,674 |
Less reinsurance recoverable |  |  | (404,818 | ) |  |  | (362,768 | )
Net balance at January 1 |  |  | 557,189 |  |  |  | 506,906 |
Incurred related to: |  |  |  |  |  |  |  |
Current year |  |  | 254,740 |  |  |  | 233,460 |
Prior years |  |  | (21,564 | ) |  |  | (10,864 | )
Total incurred |  |  | 233,176 |  |  |  | 222,596 |
Paid related to: |  |  |  |  |  |  |  |
Current year |  |  | 98,966 |  |  |  | 97,473 |
Prior years |  |  | 111,300 |  |  |  | 106,716 |
Total paid |  |  | 210,266 |  |  |  | 204,189 |
Net balance at end of period |  |  | 580,099 |  |  |  | 525,313 |
Plus reinsurance recoverable |  |  | 418,559 |  |  |  | 376,511 |
Balance at end of period |  | $ | 998,658 |  |  | $ | 901,824 |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437 + Details
Name: | us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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