Reinsurance Agreements (Tables)

12 Months Ended

Dec. 31, 2020

Reinsurance Agreements

Primary reinsurance agreements

Crusader’s primary excess of loss reinsurance agreements during the years ended December 31, 2020 and 2019 are as follows:

Loss Year		Reinsurers	A.M. Best Rating	Retention
	2020	Renaissance Reinsurance U.S. Inc. & Hannover Ruck SE	A+ A+	$	500,000
	2019	Renaissance Reinsurance U.S. Inc. & Hannover Ruck SE	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 and loss adjustment expenses is as follows:

	Year ended December 31
	2020			2019
Written premium:
Direct	$	36,338,800		$	35,803,950
Assumed		304,030			—
Ceded		(8,078,748	)		(7,153,130	)
Net written premium	$	28,564,082		$	28,650,820
Earned premium:
Direct	$	36,108,230		$	33,958,202
Assumed		156,639			—
Ceded		(8,096,701	)		(7,220,734	)
Net earned premium	$	28,168,168		$	26,737,468
Incurred losses and loss adjustment expenses:
Direct	$	48,971,172		$	36,712,252
Assumed		89,204			—
Ceded		(14,417,456	)		(14,136,125	)
Net incurred losses and loss adjustment expenses	$	34,642,920		$	22,576,127