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Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31,
(Dollars in thousands)		2018				2017
Balance at beginning of period		$	634,664			$	651,042
Less: Ceded reinsurance receivables			97,243				130,439
Net balance at beginning of period			537,421				520,603
Purchased reserves gross			—				2,496
Purchased reserves ceded			—				549
Purchased reserves, net of third party reinsurance			—				3,045
Incurred losses and loss adjustment expenses related to:
Current year			61,999				72,691
Prior years			(5,927	)			(10,130	)
Total incurred losses and loss adjustment expenses			56,072				62,561
Paid losses and loss adjustment expenses related to:
Current year			17,454				24,384
Prior years			53,228				42,383
Total paid losses and loss adjustment expenses			70,682				66,767
Net balance at end of period			522,811				519,442
Plus: Ceded reinsurance receivables			92,314				102,646
Balance at end of period		$	615,125			$	622,088

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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
-URI http://asc.fasb.org/extlink&oid=65670824&loc=d3e14764-158437

+ Details

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