Deferred Policy Acquisition Costs

9 Months Ended

Sep. 30, 2011

14. Deferred Policy Acquisition Costs

The following table shows total deferred and amortized policy acquisition cost activity by period (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2011			2010			2011			2010

Deferred	$	(12,325	)	$	(10,725	)	$	(41,153	)	$	(38,422	)
Amortized		11,931			10,280			38,391			36,033

Net	$	(394	)	$	(445	)	$	(2,762	)	$	(2,389	)

- Definition

Disclosure of accounting policy for capitalizing costs incurred to write or acquire insurance contracts, the basis for and methodology for capitalizing such costs, the accounting for such deferred acquisition costs (DAC) when modifications or internal replacements of related insurance contracts occur and the effect on results of operations, and the methodology and amount of amortization. This disclosure addresses the nature, type, and amount of capitalized costs incurred to write or acquire insurance contracts.

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