XML 15 R39.htm IDEA: XBRL DOCUMENT v3.20.1
Liabilities for Unpaid Losses, Claims and Loss Adjustment Expenses (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Liabilities for Unpaid Losses, Claims and Loss Adjustment Expenses [Roll Forward]    
Beginning liabilities for unpaid losses, claims and loss adjustment expenses, gross $ 81,448 $ 72,612
Less: Reinsurance recoverable on unpaid losses (18,339) (14,354)
Beginning liabilities for unpaid losses, claims and loss adjustment expenses, net 63,109 58,258
Incurred related to [Abstract]    
Current accident year 35,985 34,364
Prior accident year development [1] (2,583) [2] 499
Total incurred 33,402 34,863
Paid related to [Abstract]    
Current accident year 14,008 13,707
Prior accident years 20,856 19,877
Total paid 34,864 33,584
Ending liabilities for unpaid losses, claims and loss adjustment expenses, net 61,647 59,537
Plus: Reinsurance recoverable on unpaid losses 18,548 15,176
Ending liabilities for unpaid losses, claims and loss adjustment expenses, gross 80,195 74,713
Reconciliation of total incurred claims to total insurance benefits and losses incurred [Abstract]    
Total incurred losses 33,402 34,863
Cash surrender value and matured endowments 368 360
Benefit reserve changes (187) 84
Total insurance benefits and losses incurred $ 33,583 $ 35,307
[1] In establishing property and casualty reserves, the Company initially reserves for losses at the higher end of the reasonable range if no other value within the range is determined to be more probable. Selection of such an initial loss estimate is an attempt by management to give recognition that initial claims information received generally is not conclusive with respect to legal liability, is generally not comprehensive with respect to magnitude of loss and generally, based on historical experience, will develop more adversely as time passes and more information becomes available. Accordingly, the Company generally experiences reserve redundancies when analyzing the development of prior year losses in a current period.
[2] Prior years' development was primarily the result of favorable development in the loss and claim reserves for the Medicare supplement line of business in Bankers Fidelity.