XML 50 R40.htm IDEA: XBRL DOCUMENT v3.20.2
Liabilities for Unpaid Losses, Claims and Loss Adjustment Expenses (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 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     62,262 68,157
Prior accident year development [1]     (2,302) [2] 103
Total incurred     59,960 68,260
Paid related to [Abstract]        
Current accident year     33,911 38,875
Prior accident years     29,587 28,576
Total paid     63,498 67,451
Ending liabilities for unpaid losses, claims and loss adjustment expenses, net $ 59,571 $ 59,067 59,571 59,067
Plus: Reinsurance recoverable on unpaid losses 16,927 16,088 16,927 16,088
Ending liabilities for unpaid losses, claims and loss adjustment expenses, gross 76,498 75,155 76,498 75,155
Reconciliation of total incurred claims to total insurance benefits and losses incurred [Abstract]        
Total incurred losses     59,960 68,260
Cash surrender value and matured endowments     697 588
Benefit reserve changes     2 610
Total insurance benefits and losses incurred $ 27,076 $ 34,151 $ 60,659 $ 69,458
[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.