Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 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):

	June 30,		June 30,
	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		112,683		144,924
Prior years		63,274		1,044
Total incurred		175,957		145,968
Paid related to:
Current year		32,041		37,041
Prior years		101,888		91,689
Total paid		133,929		128,730
Net balance at June 30		470,794		449,806
Plus reinsurance recoverable		377,413		360,943
Balance at June 30	$	848,207	$	810,749

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,
	2022		2021
Specialty Commercial Segment	$	59,658	$	(772)
Standard Commercial Segment		208		(1,343)
Personal Segment		3,408		3,159
Total unfavorable (favorable) net prior year development	$	63,274	$	1,044