XML 51 R38.htm IDEA: XBRL DOCUMENT v3.21.2

Note 15 - Reserves for Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

		2021				2020
Losses and LAE at January 1		$	2,492,334			$	1,203,493
Provision for losses and LAE claims arising in:
Current year			693,750				1,182,651
Prior year			578,302				1,054,890
Total incurred			1,272,052				2,237,541
Losses and LAE payments for claims arising in:
Current year			1,065,955				594,600
Prior years			691,410				431,821
Total payments			1,757,365				1,026,421
Losses and LAE at September 30		$	2,007,021			$	2,414,613

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=116884095&loc=d3e14764-158437

+ Details

Name:	us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration