LOSS AND LAE RESERVES (Tables)

12 Months Ended

Dec. 31, 2015

LOSS AND LAE RESERVES [Abstract]

Summary of Activity in Liability for Loss and LAE Reserves

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

	Year Ended December 31,
	2015			2014			2013
	(in thousands)
Gross reserves, beginning of period	$	78,330		$	61,016		$	49,908
Less: reinsurance recoverable (1)		(10,394	)		(2,313	)		(3,212	)
Net reserves, beginning of period		67,936			58,703			46,696
Incurred loss, net of reinsurance, related to:
Current year		113,819			79,932			56,209
Prior years		(9,466	)		1,104			201
Total incurred loss and LAE, net of reinsurance		104,353			81,036			56,410
Paid loss, net of reinsurance, related to:
Current year		49,531			40,680			22,557
Prior years		32,914			31,123			21,846
Total paid loss and LAE, net of reinsurance		82,445			71,803			44,403
Net reserves, end of period		89,844			67,936			58,703
Plus: reinsurance recoverable (1)		7,496			10,394			2,313
Gross reserves, end of period	$	97,340		$	78,330		$	61,016

(1) Reinsurance recoverable in this table includes only ceded loss and LAE reserves.