LOSS AND LOSS ADJUSTMENT RESERVES (Tables)

12 Months Ended

Dec. 31, 2018

Liability for Future Policy Benefits [Abstract]

Activity in Liability for Loss and LAE Reserves

Activity in the liability for loss and LAE reserves is summarized as follows:

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	Year Ended December 31,
	2018			2017			2016
	(In thousands)
Gross reserves, beginning-of-period	$	230,515		$	158,110		$	97,706
Less: reinsurance recoverable (1)	(98,345		)	(40,412		)	(7,496		)
Net reserves, beginning-of-period	132,170			117,698			90,210
Incurred loss, net of reinsurance, related to:
Current year	231,133			245,545			201,704
Prior year loss development (2)	2,166			13,926			13,156
Ceded losses subject to offsetting experience account adjustments (3)	(4,883		)	(11,914		)	(17,050		)
Prior years	(2,717		)	2,012			(3,894		)
Total incurred loss and LAE, net of reinsurance	228,416			247,557			197,810
Paid loss, net of reinsurance, related to:
Current year	155,462			160,945			123,364
Prior years	75,290			72,140			46,958
Total paid loss and LAE, net of reinsurance	230,752			233,085			170,322
Net reserves, end-of-period	129,834			132,170			117,698
Plus: reinsurance recoverable (1)	166,396			98,345			40,412
Gross reserves, end-of-period	$	296,230		$	230,515		$	158,110

Short-duration Insurance Contracts, Claims Development

																					IBNR & Expected		Cumulative
	Homeowners Incurred Losses and ALAE, Net of Reinsurance																				Development on		Number of
	For the Years Ended December 31,																				Reported Claims		Reported Claims (1)
	(Unaudited)
Accident Year	2009		2010		2011		2012		2013		2014		2015		2016		2017		2018		2018		2018
2009	$	26,228	$	25,618	$	25,955	$	26,482	$	27,015	$	27,041	$	27,119	$	27,163	$	27,173	$	27,159	$	141	$	2,334
2010			24,825		25,056		26,151		27,895		28,968		29,407		29,945		30,459		30,602		30		2,391
2011					20,492		21,344		23,007		23,932		24,582		25,957		26,143		26,394		25		2,428
2012							23,032		23,301		24,186		24,468		25,889		26,356		26,836		38		2,691
2013									43,807		42,021		35,834		35,859		37,185		37,880		139		3,427
2014											64,312		63,300		61,770		62,206		61,817		636		7,621
2015													99,497		92,411		95,129		94,760		2,232		13,137
2016															171,264		162,043		158,764		11,832		23,982
2017																	202,844		192,769		62,363		62,200
2018																			210,158		91,887		28,532
																	Total		$	867,139

(1) The cumulative number of reported claims is measured by individual claimant at a coverage level.

	Homeowners Cumulative Paid Losses and ALAE, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Accident Year	2009		2010		2011		2012		2013		2014		2015		2016		2017		2018
2009	$	15,047	$	23,095	$	24,657	$	26,007	$	26,462	$	26,831	$	26,927	$	26,982	$	27,049	$	27,015
2010			14,052		21,350		24,730		26,886		27,984		29,092		29,739		30,376		30,449
2011					11,119		19,250		21,323		22,723		24,047		25,580		25,982		26,287
2012							13,693		20,728		23,120		23,923		25,186		26,113		26,777
2013									19,986		31,606		33,867		35,123		35,803		37,473
2014											37,033		53,831		57,891		59,722		60,555
2015													52,214		79,359		86,647		90,415
2016															102,556		142,716		148,274
2017																	135,589		176,580
2018																			141,173
																			$	764,998
All outstanding liabilities for unpaid claims and ALAE prior to 2009, net of reinsurance																			138
Total outstanding liabilities for unpaid claims and ALAE, net of reinsurance																			$	102,279

The following table provides supplementary information about the average annual percentage payout of incurred losses and ALAE, net of reinsurance, for homeowners policies, as of December 31, 2018:

	Average Annual Payout of Losses and ALAE, Net of Reinsurance
	(Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Homeowners	57.8	%	23.5	%	5.7	%	3.8	%	2.5	%	3.5	%	1.5	%	1.1	%	0.2	%	—	%

																					IBNR & Expected		Cumulative
	Commercial General Liability Incurred Losses and ALAE, Net of Reinsurance																				Development on		Number of
	For the Years Ended December 31,																				Reported Claims		Reported Claims
	(Unaudited)
Accident Year	2009		2010		2011		2012		2013		2014		2015		2016		2017		2018		2018		2018
2009	$	13,297	$	12,397	$	12,220	$	11,943	$	9,270	$	10,192	$	10,466	$	11,081	$	11,621	$	12,872	$	5	$	988
2010			8,552		7,582		7,474		7,045		7,535		7,597		7,645		7,809		8,252		72		691
2011					6,436		5,854		4,749		4,603		4,760		5,409		6,254		6,828		63		1,058
2012							5,279		4,952		4,801		4,700		4,658		4,346		4,509		121		538
2013									7,095		5,069		5,221		5,502		5,704		5,580		219		573
2014											7,475		7,709		6,384		6,620		6,348		161		673
2015													8,082		7,008		6,020		5,377		215		713
2016															10,727		5,809		6,561		402		695
2017																	8,289		7,853		4,634		530
2018																			6,553		5,254		313
																	Total		$	70,733

	Commercial General Liability Cumulative Paid Losses and ALAE, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Accident Year	2009		2010		2011		2012		2013		2014		2015		2016		2017		2018
2009	$	2,253	$	4,236	$	6,466	$	7,384	$	8,046	$	8,593	$	10,130	$	10,454	$	11,308	$	12,377
2010			1,187		2,279		3,855		5,553		6,363		7,238		7,382		7,631		7,918
2011					764		2,763		3,366		3,673		4,246		4,866		5,831		6,349
2012							871		1,714		2,632		3,342		3,686		3,841		4,098
2013									882		2,233		3,366		3,867		4,606		5,033
2014											717		2,593		3,855		4,375		5,130
2015													798		2,296		3,249		3,827
2016															1,515		3,657		5,088
2017																	1,592		2,478
2018																			963
																	Total		$	53,261
All outstanding liabilities for unpaid claims and ALAE prior to 2009, net of reinsurance																			1,416
Total outstanding liabilities for unpaid claims and ALAE, net of reinsurance																			$	18,888

The following table provides supplementary information about the average annual percentage payout of incurred losses and ALAE, net of reinsurance, for commercial general liability policies, as of December 31, 2018:

	Average Annual Payout of Losses and ALAE, Net of Reinsurance
	(Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Commercial general liability	14.1	%	18.5	%	18.5	%	9.1	%	7.6	%	6.0	%	7.7	%	3.4	%	4.7	%	9.6	%

																					IBNR & Expected		Cumulative
	Automobile Incurred Losses and ALAE, Net of Reinsurance																				Development on		Number of
	For the Years Ended December 31,																				Reported Claims		Reported Claims
	(Unaudited)
Accident Year	2009		2010		2011		2012		2013		2014		2015		2016		2017		2018		2018		2018
2009	$	272	$	267	$	259	$	264	$	258	$	243	$	243	$	243	$	243	$	242	$	—	$	57
2010			2,823		2,963		3,111		3,088		3,044		3,035		3,059		3,041		3,042		—		969
2011					3,580		3,350		2,954		2,912		2,762		2,848		2,796		2,756		—		789
2012							1,735		1,741		1,717		1,424		1,455		1,491		1,448		2		822
2013									1,517		1,863		1,826		1,829		2,161		2,123		9		3,468
2014											2,038		3,213		3,551		4,315		4,379		14		6,006
2015													3,045		2,882		2,781		2,878		62		6,498
2016															13,414		20,205		24,346		482		45,423
2017																	20,411		22,472		2,222		31,169
2018																			3,513		2,230		6,241
																	Total		$	67,199

	Automobile Cumulative Paid Losses and ALAE, Net of Reinsurance
	For the Years Ended December 31,
	(Unaudited)
Accident Year	2009		2010		2011		2012		2013		2014		2015		2016		2017		2018
2009	$	61	$	218	$	220	$	225	$	241	$	243	$	243	$	243	$	243	$	242
2010			1,713		2,482		2,715		2,863		2,942		2,978		2,984		3,035		3,037
2011					1,417		2,381		2,562		2,644		2,726		2,755		2,755		2,755
2012							867		1,293		1,333		1,384		1,393		1,430		1,444
2013									907		1,609		1,906		2,069		2,109		2,112
2014											1,455		3,120		3,678		4,122		4,291
2015													1,393		2,293		2,670		2,807
2016															8,084		17,258		23,053
2017																	12,821		20,762
2018																			2,331
																	Total		$	62,834
All outstanding liabilities for unpaid claims and ALAE prior to 2009, net of reinsurance																			9
Total outstanding liabilities for unpaid claims and ALAE, net of reinsurance																			$	4,374

The following table provides supplementary information about the average annual percentage payout of incurred losses and ALAE, net of reinsurance, for automobile policies, as of December 31, 2018:

	Average Annual Payout of Losses and ALAE, Net of Reinsurance
	(Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Automobile	41.7	%	32.2	%	16.4	%	5.5	%	2.5	%	1.0	%	0.2	%	0.5	%	—	%	—	%

Reconciliation of Claims Development To Liability

The reconciliation of the net incurred and paid development tables to the liability for unpaid losses and LAE in the consolidated balance sheets is as follows:

	December 31,
	2018		2017
	(In thousands)
Liabilities for unpaid losses and ALAE:
Homeowners	$	102,279	$	99,650
Commercial general liability	18,888		17,111
Automobile	4,374		11,030
Flood	—		—
Total liabilities for unpaid losses and ALAE, net of reinsurance	125,541		127,791
Reinsurance recoverables:
Homeowners	158,043		81,852
Commercial general liability	—		—
Automobile	8,275		15,360
Flood	78		1,133
Total reinsurance recoverables	166,396		98,345
Unallocated loss adjustment expenses	4,293		4,379
Gross liability for unpaid losses and LAE	$	296,230	$	230,515