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Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2014

Summarized Activity in Liability for Unpaid Losses and Loss Adjustment Expenses

Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows:

		Quarters Ended September 30,								Nine Months Ended September 30,
(Dollars in thousands)		2014				2013				2014				2013
Balance at beginning of period		$	754,595			$	844,918			$	779,466			$	879,114
Less: Ceded reinsurance receivables			178,998				229,815				192,491				240,546
Net balance at beginning of period			575,597				615,103				586,975				638,568
Incurred losses and loss adjustment expenses related to:
Current year			36,501				37,115				119,464				107,202
Prior years			153				(1,632	)			(5,969	)			(5,007	)
Total incurred losses and loss adjustment expenses			36,654				35,483				113,495				102,195
Paid losses and loss adjustment expenses related to:
Current year			15,480				15,090				39,472				34,354
Prior years			28,704				32,088				92,931				103,001
Total paid losses and loss adjustment expenses			44,184				47,178				132,403				137,355
Net balance at end of period			568,067				603,408				568,067				603,408
Plus: Ceded reinsurance receivables			171,864				219,655				171,864				219,655
Balance at end of period		$	739,931			$	823,063			$	739,931			$	823,063

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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/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 40

-Section 50

-Paragraph 3

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration