Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2020

Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]

Summary of Activity in the Reserves for Unpaid Losses and Loss Adjustment Expense

Year to-date activity in the consolidated reserves for unpaid losses and LAE is summarized as follows (in thousands):

	March 31,		March 31,
	2020		2019
Balance at January 1	$	620,355	$	527,247
Less reinsurance recoverable		272,604		221,716
Net balance at January 1		347,751		305,531
Incurred related to:
Current year		84,846		70,153
Prior years		8,559		(66)
Total incurred		93,405		70,087
Paid related to:
Current year		14,525		12,633
Prior years		80,888		60,581
Total paid		95,413		73,214
Net balance at March 31		345,743		302,404
Plus reinsurance recoverable		307,747		227,822
Balance at March 31	$	653,490	$	530,226

Impact of Net Prior Years Loss Development On Each Reporting Segment

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

	March 31,
	2020		2019
Specialty Commercial Segment	$	3,153	$	1,926
Standard Commercial Segment		125		(1,805)
Personal Segment		5,281		(187)
Corporate		—		—
Total unfavorable (favorable) net prior year development	$	8,559	$	(66)