Unpaid Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2021

Unpaid Losses And Loss Adjustment Expenses

Loss and loss adjustment expense reserves

	Three Months Ended March 31
	2021			2020
Reserve for unpaid losses and loss adjustment expenses   at January 1 – gross of reinsurance	$	74,893,509		$	55,066,480
Less reinsurance recoverable on unpaid losses and loss      adjustment expenses		22,253,642			14,725,855
Reserve for unpaid losses and loss adjustment expenses   at January 1 – net of reinsurance		52,639,867			40,340,625
Incurred losses and loss adjustment expenses:
Provision for insured events of current year		6,757,564			5,161,176
Development of insured events of prior years		(1,172,351	)		716,209
Total incurred losses and loss adjustment expenses		5,585,213			5,877,385
Loss and loss adjustment expense payments:
Attributable to insured events of the current year		2,545,181			1,444,009
Attributable to insured events of prior years		3,410,932			4,034,155
Total payments		5,956,113			5,478,164
Reserve for unpaid losses and loss adjustment expenses      at March 31 – net of reinsurance		52,268,967			40,739,846
Reinsurance recoverable on unpaid losses and loss      adjustment expenses		22,133,366			15,399,752
Reserve for unpaid losses and loss adjustment expenses at      March 31 – gross of reinsurance	$	74,402,333		$	56,139,598