UNPAID LOSSES AND LAE (Tables)

12 Months Ended

Dec. 31, 2014

UNPAID LOSSES AND LAE [Abstract]

Schedule of liability for future insurance policy benefits

Activity in the liability for unpaid losses and LAE is summarized as follows.

	Period Ending
	December 31, 2014			December 31, 2013			December 31, 2012
	(Dollars in Thousands)
Balance at January 1	$	61,016		$	49,908		$	59,983
Less reinsurance recoverables		(2,742	)		(3,503	)		(2,088	)
Net balance at January 1	$	58,274		$	46,405		$	57,895
Incurred related to
Current year	$	79,932		$	56,209		$	31,636
Prior years		1,104			201			(1,427	)
Total incurred	$	81,036		$	56,410		$	30,209
Paid related to
Current year	$	42,391		$	22,695		$	15,892
Prior years		31,123			21,846			25,807
Total paid	$	73,514		$	44,541		$	41,699
Net balance at period end	$	65,796		$	58,274		$	46,405
Plus reinsurance recoverables		12,534			2,742			3,503
Balance as of period end	$	78,330		$	61,016		$	49,908