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Liability for Unpaid Claims and Claims Adjustment Expense, Net of Reinsurance and Salvage, Subrogation and Other Recoveries

No definition available.

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Liability for Unpaid Claims and Claims Adjustment Expense, Other Recoverable

No definition available.

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Reserve for Losses and Loss Adjustment Expenses, Net of Reinsurance and Salvage and Subrogation Including Other Recoverables

No definition available.

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- References

No definition available.

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The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date.

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Liability as of the balance sheet date for amounts representing estimated cost of settling unpaid claims under the terms of the underlying insurance policies, less estimated reinsurance recoveries on such claims. This includes an estimate for claims which have been incurred but not reported. Claim adjustment expenses represent the costs estimated to be incurred in the settlement of unpaid claims.

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 40

-Section 50

-Paragraph 3

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 13

-Subparagraph a

-Article 7

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Financial Reporting Release (FRR)

-Number 403

-Paragraph 04

-Subparagraph b

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Amount after valuation allowance recoverable under reinsurance contracts for claims and claims adjustments.

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The estimated amount as of the balance sheet date to be received by an insurer from the sale of property (usually damaged) on which the insurer has paid a total claim to the insured and has obtained title to the property and the right of an insurer to pursue any course of recovery of damages, in its name or in the name of the policyholder, against a third party who is liable for costs relating to an insured event that have been paid by the insurer. Estimated salvage and subrogation is generally deducted from the liability for unpaid claims.

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 40

-Section 30

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6482241&loc=d3e13779-158432

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 40

-Section 30

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6482241&loc=d3e13783-158432