Cash Collateral Pledged

9 Months Ended

Sep. 30, 2019

Cash and Cash Equivalents [Abstract]

Cash Collateral Pledged

Cash Collateral Pledged

As of September 30, 2019 and December 31, 2018, the Company pledged cash collateral in the amount of $4.7 million and $5.3 million, respectively, which relates to letters of credit issued to the landlords of the Company's premises in New York City, Boston, Stamford and San Francisco. The Company also has pledged collateral for reinsurance agreements which amounted to $13.9 million, as of September 30, 2019, and $1.0 million, as of December 31, 2018, which is released annually between March 2020 and March 2023 based on the policy periods covered by the reinsurance agreements (see Note 18).