Unpaid Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2021

Unpaid Losses and Loss Adjustment Expenses (Tables)

Unpaid Losses And Loss Adjustment Expense

	December 31
	2021		2020
Gross reserves:
Case reserves	$	29,293,117	$	26,363,695
IBNR reserves		53,199,557		48,529,814
Total gross reserves	$	82,492,674	$	74,893,509
Reserves net of reinsurance:
Case reserves	$	23,057,464	$	21,027,703
IBNR reserves		32,319,167		31,612,164
Total net reserves	$	55,376,631	$	52,639,867

Reserves For Loss And Loss Adjustment Expenses By Line Of Business

	Year ended December 31
Line of Business	2021				2020
CMP	$	81,303,803	98.5	%	$	73,545,181	98.2	%
Other liability		1,122,823	1.4	%		1,283,174	1.7	%
Other		66,048	0.1	%		65,154	0.1	%
Total	$	82,492,674	100.0	%	$	74,893,509	100.0	%

Rollforward Of Loss And Loss Adjustment Expense Reserves

	Year ended December 31
	2021			2020
Reserve for unpaid losses and loss adjustment expenses at beginning of year – net of reinsurance	$	52,639,867		$	40,340,625
Incurred losses and loss adjustment expenses:
Provision for insured events of current year		26,097,435			26,683,872
Provision for insured events of prior years		(124,595	)		7,959,048
Total incurred losses and loss adjustment expenses		25,972,840			34,642,920
Payments:
Losses and loss adjustment expenses attributable to insured events of the current year		8,007,546			8,285,021
Losses and loss adjustment expenses attributable to insured events of prior years		15,228,530			14,058,657
Total payments		23,236,076			22,343,678
Reserve for unpaid losses and loss adjustment expenses at end of year – net of reinsurance		55,376,631			52,639,867
Reinsurance recoverable on unpaid losses and loss adjustment expenses at end of year		27,116,043			22,253,642
Reserve for unpaid losses and loss adjustment expenses at end of year per balance sheet, gross of reinsurance	$	82,492,674		$	74,893,509

Incurred but not reported liabilities and incurred paid claim development

Accident Year	Cumulative Incurred		Cumulative Paid		Total of Incurred but Not Reported Liabilities Plus Expected Development on Reported Claims			Cumulative Number of Reported Claims
2012		18,353,966		18,355,881		-			967
2013		22,852,457		22,849,314		(2	)		850
2014		17,965,556		17,817,189		(108,710	)		760
2015		25,332,806		23,197,570		(525,502	)		749
2016		27,006,706		24,528,218		(1,584,393	)		808
2017		26,103,135		21,188,239		(2,301,034	)		825
2018		19,179,716		13,750,695		(3,465,021	)		614
2019		18,723,515		10,898,586		(5,558,880	)		648
2020		22,611,110		9,769,654		(6,518,530	)		771
2021		23,198,334		5,027,785		(11,452,987	)		626
Total	$	221,327,301	$	167,383,131	$	(31,515,059	)

Reconciliation Of Cumulative Incurred And Paid Claims To Unpaid Losses And Loss Adjustment Expenses

	Year ended December 31
	2021			2020
Cumulative incurred losses and ALAE	$	221,327,301		$	218,410,701
Less cumulative paid losses and ALAE		(167,383,131	)		(167,214,395	)
Reserve for unpaid losses and ALAE (latest 10 accident years)		53,944,170			51,196,306
Reserves for unpaid losses and ALAE (beyond latest 10 accident years)		68,604			79,703
Reserves for unpaid unallocated loss adjustment expenses		1,363,857			1,363,858
Reserve for unpaid losses and loss adjustment expenses, net of reinsurance		55,376,631			52,639,867
Reinsurance recoverable on unpaid losses and loss adjustment expenses		27,116,043			22,253,642
Reserve for unpaid losses and loss adjustment expenses, gross of reinsurance	$	82,492,674		$	74,893,509