Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 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):

	September 30,		September 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		168,164		207,121
Prior years		88,178		2,553
Total incurred		256,342		209,674
Paid related to:
Current year		13,740		64,292
Prior years		186,868		130,623
Total paid		200,608		194,915
Net balance at September 30		484,500		447,327
Plus reinsurance recoverable		374,388		368,054
Balance at September 30	$	858,888	$	815,381

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 and discontinued operations is presented below:

	September 30,
	2022		2021
Standard Commercial Segment	$	250	$	(2,371)
Personal Segment		5,218		4,356
Runoff Segment		70,365		(6,543)
Unfavorable (favorable) net prior year development from continuing operations	$	75,833	$	(4,558)
Unfavorable net prior year development from discontinued operations		12,345		7,111
Total unfavorable net prior year development	$	88,178	$	2,553