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Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2012

Losses and Loss Adjustment Expenses [Abstract]

Liability for losses and loss adjustment expenses

Activity in the liability for unpaid losses and LAE is summarized as follows (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011

Balance, beginning of period	$	33,476			24,050			27,424			22,146

Incurred related to:
Current period		15,995			6,696			34,401			15,432
Prior period		202			3,827			964			5,494

Total incurred		16,197			10,523			35,365			20,926

Paid related to:
Current period		(8,691	)		(6,475	)		(13,082	)		(8,128	)
Prior period		(3,669	)		(3,125	)		(12,394	)		(9,971	)

Total paid		(12,360	)		(9,600	)		(25,476	)		(18,099	)

Balance, end of period	$	37,313			24,973			37,313			24,973

- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

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