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Reinsurance
 6 Months Ended
Sep. 30, 2017
Insurance [Abstract]  
Reinsurance
Reinsurance
Standard Casualty is primarily a specialty writer of manufactured home physical damage insurance. Certain of Standard Casualty's premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. The ceded reinsurance agreements provide Standard Casualty with increased capacity to write larger risks and maintain its exposure to loss within its capital resources. Standard Casualty remains obligated for amounts ceded in the event that the reinsurers do not meet their obligations. Substantially all of Standard Casualty's assumed reinsurance is with one entity.
The effects of reinsurance on premiums written and earned are as follows (in thousands):
 
Three Months Ended
 
September 30, 2017
 
October 1, 2016
 
Written
 
Earned
 
Written
 
Earned
Direct premiums
$
3,628

 
$
4,137

 
$
3,749

 
$
3,992

Assumed premiums—nonaffiliate
6,210

 
6,326

 
6,152

 
5,941

Ceded premiums—nonaffiliate
(4,309
)
 
(4,309
)
 
(3,077
)
 
(3,077
)
Net premiums
$
5,529

 
$
6,154

 
$
6,824

 
$
6,856



 
Six Months Ended
 
September 30, 2017
 
October 1, 2016
 
Written
 
Earned
 
Written
 
Earned
Direct premiums
$
7,994

 
$
8,287

 
$
8,135

 
$
7,918

Assumed premiums—nonaffiliate
12,470

 
12,593

 
13,099

 
11,573

Ceded premiums—nonaffiliate
(7,257
)
 
(7,257
)
 
(6,297
)
 
(6,297
)
Net premiums
$
13,207

 
$
13,623

 
$
14,937

 
$
13,194

Typical insurance policies written or assumed by Standard Casualty have a maximum coverage of $300,000 per claim, of which Standard cedes $200,000 of the risk of loss per reinsurance. Therefore, Standard Casualty maintains risk of loss limited to $100,000 per claim on typical policies. After this limit, amounts are recoverable by Standard Casualty through reinsurance for catastrophic losses in excess of $1.5 million per occurrence up to a maximum of $43.5 million in the aggregate.
Purchasing reinsurance contracts protects Standard Casualty from frequency and/or severity of losses incurred on insurance policies issued, such as in the case of a catastrophe that generates a large number of serious claims on multiple policies at the same time.