Liability for Unpaid Claims and Claim Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Insurance [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

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:

	Six Months Ended June 30,
	2024		2023
Policy liabilities and unpaid claims balance as of January 1,	$	844,848	$	567,193
Less: liabilities of policy-holder account balances, gross	(878)		(1,923)
Less: non-insurance warranty benefit claim liabilities	(2,103)		(140)
Gross liabilities for unpaid losses and loss adjustment expenses	841,867		565,130
Less: reinsurance recoverable on unpaid losses - short duration	(448,117)		(266,889)
Less: other lines, gross	(295)		(184)
Net balance as of January 1, short duration	393,455		298,057
Incurred (short duration) related to:
Current year	380,623		226,457
Prior years	(788)		2,455
Total incurred	379,835		228,912
Paid (short duration) related to:
Current year	124,082		93,768
Prior years	104,279		56,437
Total paid	228,361		150,205
Net balance as of June 30, short duration	544,929		376,764
Plus: reinsurance recoverable on unpaid losses - short duration	536,794		343,652
Plus: other lines, gross	225		118
Gross liabilities for unpaid losses and loss adjustment expenses	1,081,948		720,534
Plus: liabilities of policy-holder account balances, gross	—		1,518
Plus: non-insurance warranty benefit claim liabilities	5,255		417
Policy liabilities and unpaid claims balance as of June 30,	$	1,087,203	$	722,469

Schedule of Reconciliation of short duration contracts to total losses incurred

The following schedule reconciles the total amount of losses incurred on 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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Short duration incurred	$	204,522	$	114,652	$	379,835	$	228,912
Other lines incurred	162		285		57		282
Unallocated loss adjustment expenses	575		90		747		160
Total losses incurred	$	205,259	$	115,027	$	380,639	$	229,354