Liability for Unpaid Claims and Claim Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2021

Insurance [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

Roll forward of Claim Liability

The following table presents the activity in the net liability for unpaid losses and allocated loss adjustment expenses of short duration contracts for the following periods:

	For the Three Months Ended March 31,
	2021		2020
Policy liabilities and unpaid claims balance as of January 1,	$	233,438	$	144,384
Less: liabilities of policy-holder account balances, gross	(5,419)		(11,589)
Less: non-insurance warranty benefit claim liabilities	(30,664)		(85)
Gross liabilities for unpaid losses and loss adjustment expenses	197,355		132,710
Less: reinsurance recoverable on unpaid losses - short duration	(113,163)		(88,599)
Less: other lines, gross	(247)		(230)
Net balance as of January 1, short duration	83,945		43,881
Incurred (short duration) related to:
Current year	50,013		43,604
Prior years	(36)		2,289
Total incurred	49,977		45,893
Paid (short duration) related to:
Current year	36,498		36,437
Prior years	1,914		3,003
Total paid	38,412		39,440
Net balance as of March 31, short duration	95,510		50,334
Plus: reinsurance recoverable on unpaid losses - short duration	124,375		88,428
Plus: other lines, gross	786		248
Gross liabilities for unpaid losses and loss adjustment expenses	220,671		139,010
Plus: liabilities of policy-holder account balances, gross	5,120		10,594
Plus: non-insurance warranty benefit claim liabilities	25,532		45,860
Policy liabilities and unpaid claims balance as of March 31,	$	251,323	$	195,464

Reconciliation of Short Duration Contracts to Total Losses Incurred

The following schedule reconciles the total short duration contracts per the table above to the amount of total losses incurred as presented in the condensed consolidated statements of operations, excluding the amount for member benefit claims:

	Three Months Ended March 31,
	2021		2020
Short duration incurred	$	49,977	$	45,893
Other lines incurred	1		—
Unallocated loss adjustment expenses	273		83
Total losses incurred	$	50,251	$	45,976