Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2017

Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]

Summary of Activity in Reserves for Unpaid Losses and LAE

Activity in the consolidated reserves for unpaid losses and LAE is summarized as follows (in thousands): 

		June 30,		June 30,
		2017		2016
Balance at January 1	$	481,567	$	450,878
Less reinsurance recoverable		123,237		102,791
Net balance at January 1		358,330		348,087
Incurred related to:
Current year		122,862		116,654
Prior years		9,684		(2,757)
Total incurred		132,546		113,897
Paid related to:
Current year		33,687		35,217
Prior years		90,042		88,377
Total paid		123,729		123,594
Net balance at June 30		367,147		338,390
Plus reinsurance recoverable		138,211		105,222
Balance at June 30	$	505,358	$	443,612

Impact of Net Prior Years Loss Development by Segment

The impact from the (favorable) unfavorable net prior years’ loss development on each reporting segment is presented below:

		Six Months Ended June 30,
		2017		2016
Specialty Commercial Segment	$	8,332	$	(1,594)
Standard Commercial Segment		264		(3,674)
Personal Segment		1,088		2,511
Corporate		-		-
Total (favorable) unfavorable net prior year development	$	9,684	$	(2,757)