LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES (Tables)

6 Months Ended

Jun. 30, 2016

LOSS AND LOSS ADJUSTMENT EXPENSE 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:

	Six Months Ended June 30, 2016			Year Ended December 31, 2015
	(in thousands)
Gross reserves, beginning of period	$	97,340		$	78,330
Less: reinsurance recoverable (1)		(7,496	)		(10,394	)
Net reserves, beginning of period		89,844			67,936
Incurred loss, net of reinsurance, related to:
Current year		66,118			113,819
Prior years		10,452			(9,466	)
Total incurred loss and LAE, net of reinsurance		76,570			104,353
Paid loss, net of reinsurance, related to:
Current year		27,707			49,531
Prior years		32,190			32,914
Total paid loss and LAE, net of reinsurance		59,897			82,445
Net reserves, end of period		106,515			89,844
Plus: reinsurance recoverable (1)		14,208			7,496
Gross reserves, end of period	$	120,723		$	97,340

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