XML 115 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Reserve for Losses and Loss Adjustment Expenses (Tables)
 3 Months Ended
Mar. 31, 2020
Insurance [Abstract]  
Summary of reserve for losses and loss adjustment expenses
Activity in the reserve for losses and loss adjustment expenses is summarized as follows:
(In thousands)
Three Months Ended March 31, 2020
 
Three Months Ended March 31, 2019
 
Year Ended December 31, 2019
Balance, beginning of year
$
2,346,526

 
$
2,119,847

 
$
2,119,847

Less reinsurance recoverables on unpaid losses and loss adjustment expenses
390,708

 
343,820

 
343,820

Net balance, beginning of year
1,955,818

 
1,776,027

 
1,776,027

Net losses:
 
 
 
 
 
Current year(1)
170,874

 
170,032

 
765,698

Favorable development of reserves established in prior years, net
(6,042
)
 
(10,277
)
 
(11,783
)
Total
164,832

 
159,755

 
753,915

Paid related to:
 
 
 
 
 
Current year
(15,876
)
 
(17,027
)
 
(115,133
)
Prior years
(163,518
)
 
(109,079
)
 
(458,991
)
Total paid
(179,394
)
 
(126,106
)
 
(574,124
)
Net balance, end of period
1,941,256

 
1,809,676

 
1,955,818

Plus reinsurance recoverables on unpaid losses and loss adjustment expenses
389,792

 
349,319

 
390,708

Balance, end of period
$
2,331,048

 
$
2,158,995

 
$
2,346,526


(1) Current year net losses for the year ended December 31, 2019 included a PDR of $9.2 million associated with the unearned premium of a large national healthcare account in the Specialty P&C segment. Current year net losses for the three months ended March 31, 2020 included $5.5 million of amortization of the aforementioned PDR which offsets the impact of the losses incurred associated with the premium earned during the fist quarter of 2020 related to the large national healthcare account. For additional information regarding the PDR, see Note 7 of the Notes to Consolidated Financial Statements included in ProAssurance's December 31, 2019 Form 10-K.