Liability for Unpaid Claims and Claim Adjustment Expenses (Tables)
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12 Months Ended |
Dec. 31, 2016 |
Insurance [Abstract] |
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Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] |
The following table presents the activity in the net liability for unpaid losses and allocated loss adjustment expenses of short-duration contracts: | | | | | | | | | | Year Ended December 31, | | 2016 | | 2015 | Policy liabilities and unpaid claims balance at January 1 | $ | 80,663 |
| | $ | 63,364 |
| Less : liabilities of policy-holder accounts balances, gross | (19,037 | ) | | (21,056 | ) | Less : non-insurance warranty benefit claim liabilities | (116 | ) | | (171 | ) | Gross liabilities for unpaid losses and loss adjustment expenses | 61,510 |
| | 42,137 |
| Less : reinsurance recoverable on unpaid losses - short duration | (42,341 | ) | | (28,089 | ) | Less : other lines, gross | (163 | ) | | (178 | ) | Net balance at January 1, short duration | 19,006 |
| | 13,870 |
| | | | | Incurred (short duration) related to: | | | | Current year | 84,178 |
| | 59,579 |
| Prior years | (1,599 | ) | | (4,152 | ) | Total incurred | 82,579 |
| | 55,427 |
| | | | | Paid (short duration) related to: | | | | Current year | 62,989 |
| | 41,578 |
| Prior years | 16,033 |
| | 8,713 |
| Total paid | 79,022 |
| | 50,291 |
| Net balance at December 31, short duration | 22,563 |
| | 19,006 |
| Plus : reinsurance recoverable on unpaid losses - short duration | 63,112 |
| | 42,341 |
| Plus : other lines, gross | 208 |
| | 163 |
| Gross liabilities for unpaid losses and loss adjustment expenses | 85,883 |
| | 61,510 |
| Plus : liabilities of policy-holder accounts balances, gross | 17,417 |
| | 19,037 |
| Plus : non-insurance warranty benefit claim liabilities | 91 |
| | 116 |
| Policy liabilities and unpaid claims balance at December 31 | $ | 103,391 |
| | $ | 80,663 |
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Reconciliation of Short Duration Contracts to Total Losses Incurred [Table Text Block] |
The following schedule reconciles the total on short duration contracts per the table above to the amount of total losses incurred as presented in the consolidated statement of operations, excluding the amount for member benefit claims: | | | | | | | | | | Year Ended December 31, | | 2016 | | 2015 | Total incurred | $ | 82,579 |
| | $ | 55,427 |
| Other lines incurred | 277 |
| | 296 |
| Unallocated loss adjustment expense | 2,094 |
| | 845 |
| Total losses incurred | $ | 84,950 |
| | $ | 56,568 |
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Short-duration Insurance Contracts, Claims Development [Table Text Block] |
The following table presents information about incurred and paid loss development and average claim duration as of December 31, 2016, net of reinsurance, as well as cumulative claim frequency and the total of incurred-but-not-reported liabilities plus expected development on reported claims included within the net incurred claims amounts. The cumulative number of reported claims represents open claims, claims closed with payment, and claims closed without payment. It does not include an estimated count of unreported claims. The number of claims is measured by claim event. The Company considers a claim that does not result in a liability as a claim closed without payment. | | | | | | | | | | | | | | | | | | | Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | | As of December 31, 2016 | | For the Years Ended December 31, | | Total of Incurred-but-Not-Reported Liabilities Plus Expected Development of Reported Claims | | Cumulative Number of Reported Claims | Accident Year | 2014 (1) | 2015 (1) | 2016 | | | 2014 | $ | 43,449 |
| $ | 39,614 |
| $ | 39,914 |
| | $ | 182 |
| | 122 |
| 2015 | | 59,579 |
| 57,470 |
| | $ | 132 |
| | 176 |
| 2016 | | | 84,178 |
| | $ | 16,582 |
| | 188 |
| | | Total |
| $ | 181,562 |
| | | | | | | | | | | | | | Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | | | | | | For the Years Ended December 31, | | | | | Accident Year | 2014 (1) | 2015 (1) | 2016 | | | | | 2014 | $ | 30,435 |
| $ | 38,752 |
| $ | 39,596 |
| | | | | 2015 | | 41,578 |
| 56,445 |
| | | | | 2016 | | | 62,989 |
| | | | | | | Total |
| $ | 159,030 |
| | | | | All outstanding liabilities before 2014, net of reinsurance | 31 |
| | | | | Liabilities for loss and loss adjustment expenses, net of reinsurance | $ | 22,563 |
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(1) - The information presented for the years 2014 and 2015 is presented as unaudited supplemental information.
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Short-duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block] |
The following table presents unaudited supplementary information about average historical claims duration as of December 31, 2016 for short-duration contracts: | | | | | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance | Years | 1 | 2 | 3 | Short duration | 75% | 23% | 2% |
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Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block] |
The following table presents a reconciliation of net outstanding liabilities for unpaid loss and loss adjustment expenses of short-duration contracts to the balance sheet value of policy liabilities and unpaid claims: | | | | | | As of | | December 31, 2016 | Net outstanding liabilities: | | Short duration | $ | 22,563 |
| Insurance lines other than short-duration | 40 |
| Total liabilities for unpaid losses and loss adjustment expenses, net of reinsurance | 22,603 |
| | | Reinsurance recoverable on unpaid losses and loss adjustment expenses: | | Short duration | 63,112 |
| Other insurance lines | 168 |
| Total reinsurance recoverable on unpaid losses and loss adjustment expenses | 63,280 |
| | | Total gross liability for unpaid losses and loss adjustment expenses | 85,883 |
| Liabilities of policy-holder accounts balances, gross | 17,417 |
| Non-insurance warranty benefit claim liabilities | 91 |
| Total policy liabilities and unpaid claims | $ | 103,391 |
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