Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 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):

	June 30,		June 30,
	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		168,930		141,909
Prior years		19,348		1,404
Total incurred		188,278		143,313
Paid related to:
Current year		38,143		38,563
Prior years		143,967		107,899
Total paid		182,110		146,462
Net balance at June 30		353,919		302,382
Plus reinsurance recoverable		317,017		249,161
Balance at June 30	$	670,936	$	551,543

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:

	June 30,
	2020		2019
Specialty Commercial Segment	$	12,468	$	5,203
Standard Commercial Segment		919		(3,583)
Personal Segment		5,961		(216)
Corporate		—		—
Total unfavorable net prior year development	$	19,348	$	1,404