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Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2015

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)		2015				2014				2015				2014
Balance at beginning of period		$	769,299			$	754,595			$	675,472			$	779,466
Less: Ceded reinsurance receivables			138,497				178,998				123,201				192,491
Net balance at beginning of period			630,802				575,597				552,271				586,975
Purchased reserves, gross			1,119				—				89,489				—
Less: Purchased reserves ceded			(1,119	)			—				(12,800	)			—
Purchased reserves, net			—				—				76,689				—
Incurred losses and loss adjustment expenses related to:
Current year			86,203				36,501				244,041				119,464
Prior years			(8,512	)			153				(17,171	)			(5,969	)
Total incurred losses and loss adjustment expenses			77,691				36,654				226,870				113,495
Paid losses and loss adjustment expenses related to:
Current year			53,512				15,480				113,573				39,472
Prior years			56,385				28,704				143,661				92,931
Total paid losses and loss adjustment expenses			109,897				44,184				257,234				132,403
Net balance at end of period			598,596				568,067				598,596				568,067
Plus: Ceded reinsurance receivables			130,913				171,864				130,913				171,864
Balance at end of period		$	729,509			$	739,931			$	729,509			$	739,931

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://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