XML 35 R24.htm IDEA: XBRL DOCUMENT v3.21.1

Property and Casualty Insurance Activity (Tables)

3 Months Ended

Mar. 31, 2021

Property and Casualty Insurance Activity

Schedule of Earned Premiums

		Direct				Assumed				Ceded				Net
Three months ended March 31, 2021
Premiums written		$	38,129,117			$	-			$	(7,329,507	)		$	30,799,610
Change in unearned premiums			3,789,478				-				130				3,789,608
Premiums earned		$	41,918,595			$	-			$	(7,329,377	)		$	34,589,218
Three months ended March 31, 2020
Premiums written		$	36,696,929			$	-			$	(13,506,255	)		$	23,190,674
Change in unearned premiums			5,904,700				-				(2,153,924	)			3,750,776
Premiums earned		$	42,601,629			$	-			$	(15,660,179	)		$	26,941,450

Schedule of Loss and Loss Adjustment Expenses

		Three months ended
		March 31,
		2021				2020
Balance at beginning of period		$	82,801,228			$	80,498,611
Less reinsurance recoverables			(20,154,251	)			(15,728,224	)
Net balance, beginning of period			62,646,977				64,770,387
Incurred related to:
Current year			22,571,727				16,512,475
Prior years			(11,055	)			(126,654	)
Total incurred			22,560,672				16,385,821
Paid related to:
Current year			7,749,998				5,787,129
Prior years			10,059,577				13,777,236
Total paid			17,809,575				19,564,365
Net balance at end of period			67,398,074				61,591,843
Add reinsurance recoverables			17,058,985				16,259,256
Balance at end of period		$	84,457,059			$	77,851,099

Incurred Claims and Allocated Claim Adjustment Expenses

All Lines of Business

(in thousands, except reported claims data)

		Incurred Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance																																								As of
		For the Years Ended December 31,																																								March 31, 2021
Accident Year		2012				2013				2014				2015				2016				2017				2018				2019				2020				Three months ended March 31, 2021				IBNR				Cumulative Number of Reported Claims by Accident Year
		(Unaudited 2012 - 2020)																																				(Unaudited)
2012		$	9,539			$	9,344			$	10,278			$	10,382			$	10,582			$	10,790			$	10,791			$	11,015			$	10,885			$	10,885			$	13				4,704	(1)
2013							10,728				9,745				9,424				9,621				10,061				10,089				10,607				10,495				10,511				4				1,564
2014											14,193				14,260				14,218				14,564				15,023				16,381				16,428				16,414				180				2,138
2015															22,340				21,994				22,148				22,491				23,386				23,291				23,359				95				2,557
2016																			26,062				24,941				24,789				27,887				27,966				27,857				512				2,878
2017																							31,605				32,169				35,304				36,160				36,186				400				3,393
2018																											54,455				56,351				58,441				58,511				1,963				4,215
2019																															75,092				72,368				72,371				8,809				4,453
2020																																			63,083				63,014				8,473				5,772
2021																																							21,443				7,581				816
																																		Total				$	340,551

Cumulative Paid Claims and Allocated Claim Adjustment Expenses

All Lines of Business

(in thousands)

		Cumulative Paid Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance
		For the Years Ended December 31,																																				Three months ended March 31,
Accident Year		2012				2013				2014				2015				2016				2017				2018				2019				2020				2021
		(Unaudited 2012 - 2020)																																				(Unaudited)
2012		$	3,950			$	5,770			$	7,127			$	8,196			$	9,187			$	10,236			$	10,323			$	10,428			$	10,451			$	10,533
2013							3,405				5,303				6,633				7,591				8,407				9,056				9,717				10,016				10,133
2014											5,710				9,429				10,738				11,770				13,819				14,901				15,491				15,497
2015															12,295				16,181				18,266				19,984				21,067				22,104				22,201
2016																			15,364				19,001				21,106				23,974				25,234				25,310
2017																							16,704				24,820				28,693				31,393				31,831
2018																											32,383				44,516				50,553				50,921
2019																															40,933				54,897				55,822
2020																																			39,045				46,451
2021																																							7,287
																																		Total				$	275,987
			Net liability for unpaid loss and allocated loss adjustment expenses for the accident years presented																																			$	64,564
All outstanding liabilities before 2011, net of reinsurance																																							114
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance																																						$	64,678

Reconciliation of the net incurred and paid claims

		As of
(in thousands)		March 31, 2021
Liabilities for loss and loss adjustment expenses, net of reinsurance		$	64,678
Total reinsurance recoverable on unpaid losses			17,059
Unallocated loss adjustment expenses			2,720
Total gross liability for loss and LAE reserves		$	84,457

Supplementary unaudited information about average historical claims duration

		Treaty Year
		December 15, 2019
		to
Line of Business		December 30, 2020
Personal Lines:
Homeowners, dwelling fire and and canine legal liability Quota share treaty:
Percent ceded			25	%

		Treaty Year
		December 31, 2020				July 1, 2020				December 15, 2019
		to				to				to
Line of Business		June 30, 2021				December 30, 2020				June 30, 2020
Personal Lines:
Homeowners, dwelling fire and
canine legal liability Quota share treaty:
Risk retained on intial
$1,000,000 of losses (6)		$	1,000,000			$	750,000			$	750,000
Losses per occurrence subject
to quota share reinsurance coverage		None (6)				$	1,000,000			$	1,000,000
Expiration date		NA (6)				December 30, 2020				December 30, 2020
Excess of loss coverage and
facultative facility coverage (1)		$	8,000,000			$	8,000,000			$	9,000,000
		in excess of				in excess of				in excess of
		$	1,000,000			$	1,000,000			$	1,000,000
Total reinsurance coverage
per occurrence (6)		$	8,000,000			$	8,250,000			$	9,250,000
Losses per occurrence subject
to reinsurance coverage		$	8,000,000			$	9,000,000			$	10,000,000
Expiration date (6)		June 30, 2021				June 30, 2021				June 30, 2020
Catastrophe Reinsurance:
Initial loss subject to personal
lines quota share treaty		None (6)				$	7,500,000			$	7,500,000
Risk retained per catastrophe
occurrence (2) (6)		$	10,000,000			$	8,125,000			$	5,625,000
Catastrophe loss coverage
in excess of
quota share coverage (3) (6)		$	475,000,000			$	475,000,000			$	602,500,000
Reinstatement premium
protection (4) (5)		Yes				Yes				Yes

		Treaty Year
		July 1, 2020				July 1, 2019
		to				to
Line of Business		June 30, 2021				June 30, 2020
Personal Lines:
Personal Umbrella
Quota share treaty:
Percent ceded - first $1,000,000 of coverage			90	%			90	%
Percent ceded - excess of $1,000,000 of coverage			95	%			100	%
Risk retained		$	300,000			$	100,000
Total reinsurance coverage per occurrence		$	4,700,000			$	4,900,000
Losses per occurrence subject to quota share reinsurance coverage		$	5,000,000			$	5,000,000
Expiration date		June 30, 2021				June 30, 2020
Commercial Lines:
General liability commercial policies
Quota share treaty		None				None
Risk retained		$	750,000			$	750,000
Excess of loss coverage above risk retained		$	3,750,000			$	3,750,000
		in excess of				in excess of
		$	750,000			$	750,000
Total reinsurance coverage per occurrence		$	3,750,000			$	3,750,000
Losses per occurrence subject to reinsurance coverage		$	4,500,000			$	4,500,000
Commercial Umbrella
Quota share treaty:		None				None

Schedule of Ceding Commission Revenue

		Three months ended
		March 31,
		2021				2020
Provisional ceding commissions earned		$	45,499			$	3,720,360
Contingent ceding commissions earned			(46,564	)			110,739
		$	(1,065	)		$	3,831,099

X

- References

No definition available.

+ Details

Name:	kins_CumulativePaidClaimsAllocatedClaimAdjustmentExpensesTableTextBlock
Namespace Prefix:	kins_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kins_IncurredClaimsAllocatedClaimAdjustmentTableTextBlock
Namespace Prefix:	kins_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kins_ReconciliationOfNetIncurredAndPaidClaimsTableTextBlock
Namespace Prefix:	kins_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Custom Element.

+ References

No definition available.

+ Details

Name:	kins_ScheduleOfCedingCommissionRevenueTextBlock
Namespace Prefix:	kins_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Custom Element.

+ References

No definition available.

+ Details

Name:	kins_ScheduleOfEarnedPremiumsTextBlock
Namespace Prefix:	kins_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Custom Element.

+ References

No definition available.

+ Details

Name:	kins_ScheduleOfLossAndLossAdjustmentExpensesTextBlock
Namespace Prefix:	kins_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of average annual percentage payout of incurred claims by age, after reinsurance, for short-duration insurance contracts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 4G
-URI http://asc.fasb.org/extlink&oid=116884468&loc=SL65671329-158438

+ Details

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