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Policy Assumptions Level 1 (Notes)
6 Months Ended
Jun. 30, 2011
Policy Assumptions [Abstract]  
Policy Assumptions [Text Block]
POLICY ASSUMPTIONS


We are not a reinsurance entity; however, we occasionally supplement the natural growth of our book of business by assuming policies.


We conducted three policy assumptions under a 2008 assumption agreement with Citizens Property Insurance Corporation that terminated during the first quarter of 2010. For the six-month period ended June 30, 2010 we recorded $(17) of written premium assumed and $23 of assumed commissions incurred on those policies.


On July 1, 2010, we assumed all of Sunshine State Insurance Company's in-force homeowners policies in South Carolina. Unlike the assumptions we made from Citizens, policyholders cannot "opt out" of our assumption from Sunshine State. For the right to assume and renew their in-force homeowners policies in South Carolina, we agreed to pay Sunshine State $300, plus as much as an additional $700 depending upon the renewal rate of the policies we assumed. Based on an analysis of our historical renewal rates for similar policies, we initially recorded an intangible asset of $860, representing the amount we ultimately expected to pay Sunshine State for the renewal right. At June 30, 2011, we decreased the value of the intangible asset to $848 after our evaluation of renewal rates indicated that the actual renewal rate that we experienced over the past year had decreased from what we originally estimated when we established the intangible asset. We determined that we will amortize the intangible asset over five years, representing the amount of time we expect the assumed policies to provide us a benefit. During the three- and six-month periods ended June 30, 2011, we recorded amortization on the intangible totaling $70 and $143, respectively.