Loss Reserves (Tables)

9 Months Ended

Sep. 30, 2023

Insurance [Abstract]

Liability for Unpaid Loss and Loss Adjustment Expenses, Net of Related Amounts Recoverable from Reinsurers

The following table provides the Company’s liability for unpaid loss and loss adjustment expenses, net of related amounts recoverable from reinsurers, for the nine months ended September 30, 2023 and 2022:

	Nine Months Ended September 30,
	2023			2022
	(in thousands)
Balance, beginning of period	$	696,037		$	745,278
Less amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses		112,555			119,266
Net balance, beginning of period		583,482			626,012
Add incurred related to:
Current accident year		143,003			145,993
Prior accident years		(31,195	)		(30,201	)
Total incurred		111,808			115,792
Less paid related to:
Current accident year		28,074			30,566
Prior accident years		104,602			111,968
Total paid		132,676			142,534
Net balance, end of period		562,614			599,270
Add amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses		121,734			116,926
Balance, end of period	$	684,348		$	716,196

Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers

The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the three and nine months ended September 30, 2023 and 2022.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023			2022
	(in thousands)
Balance, beginning of period	$	338	$	369	$	372		$	440
Provision for credit loss expense (benefit)		5		35		(29	)		(36	)
Balance, end of period	$	343	$	404	$	343		$	404