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Liability for Unpaid Losses and Loss Adjustment Expenses (Tables) | 12 Months Ended
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Dec. 31, 2025
Insurance [Abstract] |
Schedule of Reconciliation of Changes in the Liability for Unpaid Losses And LAE | The following table provides a reconciliation of changes in the liability for unpaid losses and LAE:
| December 31,
2025 |  | 2024
Unpaid Loss and LAE beginning of period | $475,708 |  | $279,392
Less: Reinsurance recoverables on unpaid losses and LAE | 415,086 |  | 214,718
Net unpaid loss and LAE at beginning of period | 60,622 |  | 64,674
Add: Losses and LAE, net of reinsurance, incurred related to: |  |  |
Current period | 99,848 |  | 94,019
Prior period | (1,814) |  | (3,187)
Total net losses and LAE incurred | 98,034 |  | 90,832
Less: Losses and LAE paid, net of reinsurance, related to: |  |  |
Current period | 45,574 |  | 56,038
Prior period | 38,827 |  | 38,846
Total net paid losses and LAE | 84,401 |  | 94,884
Unpaid loss and LAE, net of reinsurance at end of period | 74,255 |  | 60,622
Add: Reinsurance recoverables on unpaid losses and LAE | 192,336 |  | 415,086
Unpaid loss and LAE at end of period | $266,591 |  | $475,708
Incurred Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance | The following is information about incurred and paid loss development as of December 31, 2025, net of reinsurance, as well as cumulative claim frequency and the total of IBNR liabilities plus expected development on reported claims included within the net incurred loss amounts. All information is reported in thousands, except for cumulative number of reported claims, which are shown at the actual counts. In determining the cumulative number of reported claims, the Company measures claim frequency per policy, per claim event for all coverages. Reported claims that are closed without an indemnity payment are not included in cumulative number of reported claims. The Company compiles and aggregates its claims data by grouping the claims according to the year in which the claim occurred (“accident year”) when analyzing claim payment and emergence patterns and trends over time. The Company analyzed the usefulness of disaggregation of its results and determined the characteristics associated with the policies and the related unpaid loss reserves, incurred losses, and payment patterns are similar in nature. As such, the information about incurred and paid loss development for the years ended December 31, 2015 to 2024, is presented as supplementary information.
Incurred Losses and Allocated LAE, Net of Reinsurance
For the years ended December 31,
Accident Year |  | 2015* |  | 2016* |  | 2017* |  | 2018* |  | 2019* |  | 2020* |  | 2021* |  | 2022* |  | 2023* |  | 2024* |  | 2025 |  | Total of IBNR Liabilities Plus Expected Development on Reported Claims |  | Cumulative Number of Reported Claims
2015 |  | $42,003 |  | $39,623 |  | $46,877 |  | $47,555 |  | $48,545 |  | $48,672 |  | $48,426 |  | $48,853 |  | $49,012 |  | $48,895 |  | $49,086 |  | $19 |  | 55,583
2016 |  | — |  | 53,192 |  | 51,879 |  | 54,306 |  | 56,499 |  | 57,282 |  | 60,983 |  | 61,206 |  | 61,568 |  | 60,855 |  | 60,791 |  | 66 |  | 83,177
2017 |  | — |  | — |  | 57,286 |  | 48,820 |  | 26,956 |  | 24,139 |  | 22,535 |  | 18,846 |  | 19,453 |  | 19,172 |  | 19,363 |  | 25 |  | 266,335
2018 |  | — |  | — |  | — |  | 89,565 |  | 78,270 |  | 82,013 |  | 86,354 |  | 83,734 |  | 84,985 |  | 83,191 |  | 83,072 |  | 72 |  | 105,848
2019 |  | — |  | — |  | — |  | — |  | 104,651 |  | 107,979 |  | 118,580 |  | 118,187 |  | 121,378 |  | 119,509 |  | 118,987 |  | 553 |  | 81,599
2020 |  | — |  | — |  | — |  | — |  | — |  | 93,727 |  | 133,001 |  | 134,531 |  | 140,552 |  | 139,361 |  | 139,337 |  | 1,344 |  | 95,164
2021 |  | — |  | — |  | — |  | — |  | — |  | — |  | 78,605 |  | 110,218 |  | 114,801 |  | 116,366 |  | 116,347 |  | 2,008 |  | 47,158
2022 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 91,299 |  | 72,343 |  | 71,726 |  | 76,236 |  | 5,388 |  | 134,076
2023 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 88,840 |  | 90,307 |  | 94,161 |  | 5,337 |  | 23,363
2024 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 94,189 |  | 84,378 |  | 11,054 |  | 29,632
2025 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 99,847 |  | 50,565 |  | 5,965
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  | $941,605 |  |  |  |
Cumulative Paid Losses and Allocated LAE, Net of Reinsurance
For the years ended December 31,
Accident Year |  | 2015* |  | 2016* |  | 2017* |  | 2018* |  | 2019* |  | 2020* |  | 2021* |  | 2022* |  | 2023* |  | 2024* |  | 2025
2015 |  | $20,564 |  | $32,681 |  | $40,904 |  | $45,050 |  | $47,492 |  | $48,396 |  | $48,316 |  | $48,796 |  | $48,905 |  | $48,878 |  | $48,967
2016 |  | — |  | 31,282 |  | 42,759 |  | 49,237 |  | 54,877 |  | 56,557 |  | 60,486 |  | 61,012 |  | 61,187 |  | 60,759 |  | 60,727
2017 |  | — |  | — |  | 25,224 |  | 40,067 |  | 24,925 |  | 22,207 |  | 21,343 |  | 18,371 |  | 19,012 |  | 19,091 |  | 19,346
2018 |  | — |  | — |  | — |  | 45,454 |  | 72,404 |  | 77,680 |  | 83,699 |  | 82,836 |  | 83,761 |  | 83,091 |  | 83,011
2019 |  | — |  | — |  | — |  | — |  | 58,982 |  | 95,405 |  | 112,510 |  | 116,637 |  | 117,975 |  | 118,521 |  | 118,533
2020 |  | — |  | — |  | — |  | — |  | — |  | 58,376 |  | 120,360 |  | 130,048 |  | 136,788 |  | 137,474 |  | 138,159
2021 |  | — |  | — |  | — |  | — |  | — |  | — |  | 48,184 |  | 99,498 |  | 108,814 |  | 113,529 |  | 114,606
2022 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 49,437 |  | 56,876 |  | 65,080 |  | 71,376
2023 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 55,107 |  | 80,487 |  | 89,552
2024 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 56,037 |  | 77,499
2025 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 45,574
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  | $867,350
* Presented as unaudited required supplementary information.
Schedule of Reconciliation of Reserve Balances to Liability for Unpaid Loss and Loss Adjustment Expenses | The reconciliation of the net incurred and paid loss development tables to the liability for unpaid losses and LAE in the consolidated balance sheets is as follows:
| December 31, 2025 |  | December 31, 2024
Homeowners’ Insurance Liabilities for unpaid losses and allocated LAE, net of reinsurance | $74,255 |  | $60,622
Reinsurance recoverable on unpaid losses and LAE | 192,336 |  | 415,086
Total gross liability for unpaid losses and LAE | $266,591 |  | $475,708
Schedule of Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance | The following is supplementary information about average historical claims duration as of December 31, 2025, and is presented as required supplementary information, which is unaudited.
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance
Years |  | 1 |  | 2 |  | 3 |  | 4 |  | 5 |  | 6 |  | 7 |  | 8 |  | 9 |  | 10
Homeowners’ Insurance |  | 55% |  | 31% |  | 3% |  | 4% |  | 1% |  | —% |  | —% |  | —% |  | —% |  | —%

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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 + Details
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- Definition Tabular disclosure of undiscounted information about claims development by accident year for short-duration insurance contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 9E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-9E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4D -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4D Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-4E + Details
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