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Liability for Unpaid Losses and Loss Adjustment Expense (Tables)
 9 Months Ended
Sep. 30, 2020
Insurance [Abstract]  
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense
The table below shows the analysis of our reserve for unpaid losses for the nine months ended September 30, 2020 and 2019 on a GAAP basis:
September 30,
 20202019
Balance at January 1$760,357 $661,203 
Less: reinsurance recoverable on unpaid losses482,315 477,870 
Net balance at January 1$278,042 $183,333 
Incurred related to:
Current year429,347 335,708 
Prior years(6,165)33,216 
Total incurred$423,182 $368,924 
Paid related to:
Current year195,728 185,257 
Prior years125,085 115,890 
Total paid$320,813 $301,147 
Net balance at September 30$380,411 $251,110 
Plus: reinsurance recoverable on unpaid losses701,715 573,037 
Balance at September 30$1,082,126 $824,147 
Composition of reserve for unpaid losses and LAE:
     Case reserves$361,672 $271,073 
     IBNR reserves720,454 553,074 
Balance at September 30$1,082,126 $824,147