Unpaid Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2014

Unpaid Losses And Loss Adjustment Expenses Tables

Unpaid losses and loss adjustment expenses

Crusader’s loss and loss adjustment expense reserves are as follows:

	Year ended December 31
	2014		2013
Direct reserves
Case reserves	$	14,983,886	$	12,773,733
IBNR reserves		29,412,672		31,103,096
Total direct reserves	$	44,396,558	$	43,876,829
Reserves net of reinsurance
Case reserves	$	13,045,290	$	11,707,102
IBNR reserves		26,188,493		27,741,444
Total net reserves	$	39,233,783	$	39,448,546

Reserves for 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 are as follows:

	Year ended December 31
Line of Business	2014				2013
CMP	$	43,457,425	97.9	%	$	42,778,814	97.5	%
Other liability		911,633	2.0	%		1,022,463	2.3	%
Other		27,500	0.1	%		75,552	0.2	%
Total	$	44,396,558	100.0	%	$	43,876,829	100.0	%

Rollforward of loss and loss adjustment expense reserves

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

	Year ended December 31
	2014			2013			2012
Reserve for unpaid losses and loss adjustment expenses at beginning of year – net of reinsurance	$	39,448,546		$	43,200,582		$	46,512,179
Incurred losses and loss adjustment expenses:
Provision for insured events of current year		17,925,882			20,648,634			19,596,313
Decrease in provision for incurred events of prior years		(3,308,764	)		(4,559,459	)		(4,362,910	)
Total incurred losses and loss adjustment expenses		14,617,118			16,089,175			15,233,403
Payments:
Losses and loss adjustment expenses attributable to insured events of the current year		4,286,861			8,096,070			7,193,853
Losses and loss adjustment expenses attributable to insured events of prior years		10,545,020			11,745,141			11,351,147
Total payments		14,831,881			19,841,211			18,545,000
Reserve for unpaid losses and loss adjustment expenses at end of year – net of reinsurance		39,233,783			39,448,546			43,200,582
Reinsurance recoverable on unpaid losses and loss adjustment expenses at end of year		5,162,775			4,428,283			6,584,143
Reserve for unpaid losses and loss adjustment expenses at end of year per balance sheet, gross of reinsurance	$	44,396,558		$	43,876,829		$	49,784,725