Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 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): 

		September 30,		September 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		184,685		177,017
Prior years		20,240		(783)
Total incurred		204,925		176,234
Paid related to:
Current year		61,288		65,339
Prior years		128,329		116,488
Total paid		189,617		181,827
Net balance at September 30		373,638		342,494
Plus reinsurance recoverable		157,861		112,506
Balance at September 30	$	531,499	$	455,000

Impact of Net Prior Years Loss Development by Segment

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

		Nine Months Ended September 30,
		2017		2016
Specialty Commercial Segment	$	17,824	$	1,938
Standard Commercial Segment		1,594		(6,370)
Personal Segment		822		3,649
Corporate		-		-
Total unfavorable (favorable) net prior year development	$	20,240	$	(783)