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Financial Services, Insurance | 12 Months Ended
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Dec. 31, 2025
Insurance [Abstract] |
Liability for Future Policy Benefits and Unpaid Claims Disclosure | The following is a summary of loss and loss adjustment expense reserves, including certain components, for the Company’s major product lines by reporting segment at December 31, 2025 and 2024.
| December 31, 2025 |  | December 31, 2024
| Net Claims and Claim Adjustment Expense Reserves |  | Reinsurance Recoverables on Unpaid Losses |  | Loss and Loss Adjustment Reserves |  | Net Claims and Claim Adjustment Expense Reserves |  | Reinsurance Recoverables on Unpaid Losses |  | Loss and Loss Adjustment Reserves
Commercial auto | $ | 23,062 |  |  | $ | 136,132 |  |  | $ | 159,194 |  |  | $ | 28,720 |  |  | $ | 129,752 |  |  | $ | 158,472 |
Excess liability | 16,897 |  |  | 99,713 |  |  | 116,610 |  |  | 6,571 |  |  | 43,677 |  |  | 50,248 |
General liability | 12,572 |  |  | 51,024 |  |  | 63,596 |  |  | 8,286 |  |  | 26,925 |  |  | 35,211 |
Workers compensation | 17,798 |  |  | — |  |  | 17,798 |  |  | 14,465 |  |  | — |  |  | 14,465 |
Non-standard personal auto | 3,635 |  |  | 191 |  |  | 3,826 |  |  | 12,185 |  |  | 504 |  |  | 12,689 |
Professional liability | 2,851 |  |  | 37,996 |  |  | 40,846 |  |  | 1,807 |  |  | 15,891 |  |  | 17,698 |
Multi-peril / business owners (BOP) | 1,519 |  |  | 4,666 |  |  | 6,185 |  |  | 43 |  |  | 230 |  |  | 273 |
Surety | 94 |  |  | 12,140 |  |  | 12,233 |  |  | 6 |  |  | 11,211 |  |  | 11,217 |
Unallocated loss adjustment expense reserves | 5,552 |  |  | 9,317 |  |  | 14,869 |  |  | 6,578 |  |  | 5,660 |  |  | 12,238 |
Other (1) | 289 |  |  | 24,544 |  |  | 24,834 |  |  | 320 |  |  | 36,231 |  |  | 36,551 |
Total | $ | 84,268 |  |  | $ | 375,722 |  |  | $ | 459,991 |  |  | $ | 78,981 |  |  | $ | 270,081 |  |  | $ | 349,062 |
(1)Other includes $23,530 and $35,146 at December 31, 2025 and 2024, respectively, related to legacy liabilities obtained from the acquisitions of Providence Washington Insurance Company, Greenwood Insurance Company, and Consolidated Specialty Insurance Company. All legacy liabilities remain obligations of affiliates of the sellers through reinsurance and contractual indemnities.
Reinsurance | Reinsurance Recoverables, Including Credit Impairments: Everspan’s reinsurance assets, including deferred ceded premiums and reinsurance recoverables on losses, amounted to $582,457 at December 31, 2025. Credit exposure existed at December 31, 2025, with respect to reinsurance recoverables to the extent that any reinsurer may not be able to reimburse Everspan under the terms of these reinsurance arrangements. At December 31, 2025, there were ceded reinsurance balances payable of $80,561 offsetting this credit exposure. Contractually ceded reinsurance payables can only be offset against amounts owed from the same reinsurer in the event that such reinsurer is unable to meet its obligations to reimburse Everspan. To minimize its credit exposure to losses from reinsurer insolvencies, Everspan (i) is entitled to receive collateral from its reinsurance counterparties in certain reinsurance contracts and (ii) has certain cancellation rights that can be exercised by Everspan in the event of rating agency downgrades of a reinsurer (among other events and circumstances). Everspan held letters of credit and collateral amounting to $88,732 from its reinsurers at December 31, 2025. For those reinsurance counterparties that do not currently post collateral, Everspan's reinsurers are well-capitalized, highly rated, authorized capacity providers. Additionally, while legacy liabilities from the Providence Washington Insurance Company acquisition and the admitted carriers acquired by Everspan on January 3, 2022, (Greenwood Insurance Company and Consolidated Specialty Insurance Company), were fully ceded to certain reinsurers, Everspan also benefits from an unlimited, uncapped indemnity from Enstar Holdings (US) and 21st Century Premier Insurance Company to mitigate any residual risk to these reinsurers. For 2025, our top five reinsurers represented 54% our total reinsurance recoverables on paid and unpaid losses. These reinsurance recoverables were primarily from reinsurers with applicable ratings of A or better. The following table sets forth our five most significant reinsurers by amount of reinsurance recoverables as of December 31, 2025.
Reinsurers |  | Rating (1) |  | Reinsurance Recoverable (2) |  | Unsecured Recoverable (3)
General Reinsurance Company |  | A++ |  | $ | 124,602 |  |  | $ | 100,165 |
Munich Reinsurance Company |  | A+ |  | 57,036 |  |  | 55,196 |
QBE Insurance Corporation |  | A |  | 19,791 |  |  | 19,791 |
Everest Reinsurance Company |  | A+ |  | 17,524 |  |  | 17,932 |
Swiss Reinsurance America Corporation |  | A+ |  | 15,507 |  |  | 14,657 |
All other reinsurers |  |  |  | 201,632 |  |  | 104,054 |
Total recoverables |  |  |  | $ | 436,092 |  |  | $ | 311,795 |
(1)Represents financial strength ratings from AM Best. (2)Represents reinsurance recoverables on paid and unpaid losses. Unsecured amounts from QBE Insurance Corporation is also supported by an unlimited, uncapped indemnity from Enstar Holdings (US). (3)Reinsurance recoverables reduced by ceded premiums payables due to reinsurers, letters of credit, and collateral posted for the benefit of Everspan. Everspan has uncollateralized credit exposure to reinsurers of $311,795 and $232,310 and has recorded an allowance for credit losses of $100 and $100 at December 31, 2025 and 2024, respectively. The uncollateralized credit exposure to reinsurers includes legacy liabilities obtained from the acquisitions of Providence Washington Insurance Company and the admitted carriers acquired by Everspan on January 3, 2022, of $23,530 and $35,146 at December 31, 2025 and 2024, respectively. All legacy liabilities remain with affiliates of the sellers through reinsurance and contractual indemnities.

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