Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2022

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,
	2022		2021
Balance at January 1	$	816,681	$	789,768
Less reinsurance recoverable		387,915		357,200
Net balance at January 1		428,766		432,568
Incurred related to:
Current year		56,333		71,565
Prior years		7,691		(2,086)
Total incurred		64,024		69,479
Paid related to:
Current year		12,757		7,067
Prior years		62,213		52,360
Total paid		74,970		59,427
Net balance at March 31		417,820		442,620
Plus reinsurance recoverable		380,518		369,652
Balance at March 31	$	798,338	$	812,272

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,
	2022		2021
Specialty Commercial Segment	$	6,380	$	(1,899)
Standard Commercial Segment		(262)		(1,361)
Personal Segment		1,573		1,174
Total unfavorable (favorable) net prior year development	$	7,691	$	(2,086)