Loss Reserves (Tables)

6 Months Ended

Jun. 30, 2024

Insurance [Abstract]

Liability for Unpaid Loss and Loss Adjustment Expenses, Net of Related Amounts Recoverable from Reinsurers

The following table provides the Company’s liability for unpaid loss and loss adjustment expenses, net of related amounts recoverable from reinsurers, for the six months ended June 30, 2024 and 2023:

	Six Months Ended June 30,
	2024			2023
	(in thousands)
Balance, beginning of period	$	673,994		$	696,037
Less amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses		119,746			112,555
Net balance, beginning of period		554,248			583,482
Add incurred related to:
Current accident year		97,326			95,693
Prior accident years		(16,711	)		(21,039	)
Total incurred		80,615			74,654
Less paid related to:
Current accident year		12,670			12,938
Prior accident years		74,940			75,252
Total paid		87,610			88,190
Net balance, end of period		547,253			569,946
Add amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses		116,732			114,667
Balance, end of period	$	663,985		$	684,613

Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers

The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the three and six months ended June 30, 2024 and 2023.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024			2023
	(in thousands)
Balance, beginning of period	$	309	$	328	$	360		$	372
Provision for credit loss expense (benefit)		13		10		(38	)		(34	)
Balance, end of period	$	322	$	338	$	322		$	338