Unpaid Losses and Loss Adjustment Reserve (Tables)

9 Months Ended

Sep. 30, 2024

Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]

Schedule of Changes in the Reserve Balances for Unpaid Losses and LAE, Gross of Reinsurance

The following table summarizes the changes in the reserve balances for unpaid losses and LAE, gross of reinsurance, for the nine months ended September 30, 2024:

Reserve for unpaid losses and LAE at December 31, 2023	$	95,503
Reinsurance recoverables on losses and LAE at December 31, 2023	(19,808)
Reserve for unpaid losses and LAE reserve, net of reinsurance recoverables at December 31, 2023	75,695
Add provisions (reductions) for losses and LAE occurring in:
Current year	194,141
Prior years (1)	(2,040)
Net incurred losses and LAE during the current year	192,101
Deduct payments for losses and LAE occurring in:
Current year	(130,537)
Prior years (1)	(56,331)
Net claim and LAE payments during the current year	(186,868)
Reserve for losses and LAE, net of reinsurance recoverables at September 30, 2024	80,928
Reinsurance recoverables on losses and LAE at September 30, 2024	(19,682)
Reserve for unpaid losses and LAE at September 30, 2024	$	100,610

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(1)Also includes certain charges related to Vesttoo (see Note 10).