XML 94 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Deferred Policy Acquisition Costs
 9 Months Ended
Sep. 30, 2013
Deferred Policy Acquisition Costs [Abstract]  
Deferred Policy Acquisition Costs
DEFERRED ACQUISITION COSTS
Policy acquisition costs consist primarily of commissions, premium taxes, and underwriting and agency expenses incurred related to successful efforts to acquire new or renewal insurance contracts, net of ceding commission income, and vehicle service agreements. Acquisition costs deferred on both property and casualty insurance products and vehicle service agreements are amortized over the period in which the related revenues are earned.
The components of deferred acquisition costs and the related amortization expense for the three and nine months ended September 30, 2013 and 2012, respectively, is comprised as follows:
(in thousands)
 
Three months ended September 30,
 
 
Nine months ended September 30,
 
 
 
2013

 
2012

 
2013

 
2012

Beginning balance, net
 
$
11,797

 
$
7,634

 
$
14,102

 
$
8,116

Additions
 
4,952

 
5,804

 
20,719

 
14,662

Amortization
 
(6,058
)
 
(5,399
)
 
(24,130
)
 
(14,739
)
Balance at September 30, net
 
$
10,691

 
$
8,039

 
$
10,691

 
$
8,039