Reinsurance Agreements (Tables)

12 Months Ended

Dec. 31, 2014

Reinsurance Agreements Tables

Primary reinsurance agreements

Crusader’s primary excess of loss reinsurance agreements during years ended December 31, 2014, 2013 and 2012 are as follows:

Loss Year(s)	Reinsurer(s)	A.M. Best Rating		Retention		Annual Aggregate Deductible
2012 – 2014	Platinum Underwriters Reinsurance, Inc. & Hannover Ruckversicherungs AG & TOA Reinsurance	A  A+  A+	$	500,000	$	—

Effect of reinsurance on premiums written, premiums earned, and incurred losses

The effect of reinsurance on written premium, earned premium and incurred losses loss adjustment expenses is as follows:

	Year ended December 31
	2014			2013			2012
Written premium:
Direct business	$	32,810,088		$	31,214,091		$	32,572,047
Reinsurance ceded		(5,025,798	)		(5,120,808	)		(5,180,758	)
Net written premium	$	27,784,290		$	26,093,283		$	27,391,289
Earned premium:
Direct business	$	31,463,691		$	31,983,540		$	32,454,089
Reinsurance ceded		(5,090,268	)		(5,121,233	)		(5,135,929	)
Net earned premium	$	26,373,423		$	26,862,307		$	27,318,160
Incurred losses and loss adjustment expenses:
Direct	$	16,795,536		$	15,491,895		$	16,795,237
Ceded		(2,178,418	)		597,280			(1,561,834	)
Net incurred losses and loss adjustment expenses	$	14,617,118		$	16,089,175		$	15,233,403