LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES (Tables)

12 Months Ended

Dec. 31, 2016

LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES [Abstract]

Activity in Liability for Loss and LAE Reserves

	Year Ended December 31,
	2016		2015		2014
	(in thousands)
Gross reserves, beginning of period	$	97,340	$	78,330	$	61,016
Less: reinsurance recoverable (1)		(7,496)		(10,394)		(2,313)
Net reserves, beginning of period		89,844		67,936		58,703
Incurred loss, net of reinsurance, related to:
Current year		174,795		113,819		79,932
Prior years		12,546		(9,466)		1,104
Total incurred loss and LAE, net of reinsurance		187,341		104,353		81,036
Paid loss, net of reinsurance, related to:
Current year		113,196		49,531		40,680
Prior years		56,958		32,914		31,123
Total paid loss and LAE, net of reinsurance		160,154		82,445		71,803
Net reserves, end of period		117,031		89,844		67,936
Plus: reinsurance recoverable (1)		41,079		7,496		10,394
Gross reserves, end of period	$	158,110	$	97,340	$	78,330

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

Schedule of Incurred and Cumulative Paid Losses and Loss Adjustment Expenses, Net of Reinsurance

											IBNR & expected	Cumulative
	Incurred losses and ALAE, net of reinsurance										development on	number of
	For the years ended December 31,										reported claims	reported claims (1)	Severity (2)
	(unaudited)
Accident Year	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2016	2016	2016
2007	19,410	18,293	17,319	17,544	17,494	17,761	17,912	17,715	17,553	17,559	6	1,883	9,325
2008		18,305	15,784	15,811	15,977	15,659	16,021	15,661	15,604	15,609	4	1,705	9,155
2009			26,228	25,618	25,955	26,482	27,015	27,041	27,119	27,163	101	2,323	11,693
2010				24,825	25,056	26,151	27,895	28,968	29,407	29,945	34	2,348	12,753
2011					20,492	21,344	23,007	23,932	24,582	25,957	40	2,344	11,074
2012						23,032	23,301	24,186	24,468	25,889	326	2,579	10,038
2013							43,807	42,021	35,834	35,859	216	3,209	11,175
2014								64,312	63,300	61,770	2,222	5,679	10,877
2015									99,286	92,159	8,097	11,196	8,231
2016										168,875	48,663	20,923	8,071
									Total	$500,785

	Cumulative paid losses and ALAE, net of reinsurance
	For the years ended December 31,
	(unaudited)
Accident Year	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016
2007	11,358	15,352	16,160	16,783	17,027	17,291	17,429	17,443	17,509	17,519
2008		9,477	13,832	14,689	15,190	15,308	15,445	15,595	15,583	15,587
2009			15,047	23,095	24,657	26,007	26,462	26,831	26,927	26,982
2010				14,052	21,350	24,730	26,886	27,984	29,092	29,739
2011					11,119	19,250	21,323	22,723	24,047	25,580
2012						13,693	20,728	23,120	23,923	25,186
2013							19,986	31,606	33,867	35,123
2014								37,033	53,831	57,891
2015									52,190	76,169
2016										101,532
									Total	$414,308
All outstanding liabilities for unpaid claims and LAE prior to 2007, net of reinsurance										1,478
Total outstanding liabilities for unpaid claims and LAE, net of reinsurance										$   87,955

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

(2) Calculated severity amounts by accident year are based on inception-to-date incurred less IBNR and expected development dollars on reported claims. Note the older accident years are more developed than recent accident years.

Schedule of Reconciliation of Net Incurred and Paid Development

	As of December 31, 2016
	(in thousands)
Liabilities for unpaid losses and LAE:
Homeowners	$                                     87,955
Other lines	28,915
Total liabilities for unpaid losses and LAE, net of reinsurance	116,870
Reinsurance recoverables:
Homeowners	19,964
Other lines	21,115
Total reinsurance recoverables	41,079
Unallocated loss adjustment expenses	161
Gross liability for unpaid losses and LAE	$                                   158,110

Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance

	Average annual payout of losses and LAE, 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	53.4%	28.3%	7.4%	4.2%	2.2%	2.6%	1.0%	0.1%	0.4%	0.0%