Unpaid Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2012

Unpaid Losses And Loss Adjustment Expenses Tables

Unpaid losses and loss adjustment expenses

The Company’s loss and loss adjustment expense reserves are as follows:

	Year ended December 31
	2012		2011
Direct reserves
Case reserves	$	11,925,272	$	12,771,203
IBNR reserves		37,859,453		41,715,640
Total direct reserves	$	49,784,725	$	54,486,843
Reserves net of reinsurance
Case reserves	$	10,946,621	$	11,815,692
IBNR reserves		32,253,961		34,696,487
Total net reserves	$	43,200,582	$	46,512,179

Loss and loss adjustment expenses by line of business

Reserves for losses and loss adjustment expenses before reinsurance for each of Crusader’s lines of business were as follows:

	Year ended December 31
Line of Business	2012				2011
CMP	$	48,073,951	96.6	%	$	52,198,037	95.8	%
Other liability		1,658,429	3.3	%		2,246,166	4.1	%
Other		52,345	0.1	%		42,640	0.1	%
Total	$	49,784,725	100.0	%	$	54,486,843	100.0	%

Rollforward of loss and loss adjustment expense reserves

The following table provides an analysis of the roll forward of Crusader’s losses and loss adjustment expenses, including a reconciliation of the ending balance sheet liability for the periods indicated:

	Year ended December 31
	2012			2011			2010
Reserve for unpaid losses and loss adjustment expenses at beginning of year – net of reinsurance	$	46,512,179		$	49,743,381		$	55,409,545
Incurred losses and loss adjustment expenses
Provision for insured events of current year		19,596,313			19,229,785			23,038,294
Decrease in provision for events of prior years		(4,362,910	)		(4,842,458	)		(4,568,179	)
Total losses and loss adjustment expenses		15,233,403			14,387,327			18,470,115
Payments
Losses and loss adjustment expenses attributable to insured events of the current year		7,193,853			5,187,128			8,327,215
Losses and loss adjustment expenses attributable to insured events of prior years		11,351,147			12,431,401			15,809,064
Total payments		18,545,000			17,618,529			24,136,279
Reserve for unpaid losses and loss adjustment expenses at end of year – net of reinsurance		43,200,582			46,512,179			49,743,381
Reinsurance recoverable on unpaid losses and loss adjustment expenses at end of year		6,584,143			7,974,664			11,816,314
Reserve for unpaid losses and loss adjustment expenses at end of year per balance sheet, gross of reinsurance	$	49,784,725		$	54,486,843		$	61,559,695