Loss and Loss Adjustment Expense Reserves (Tables)

12 Months Ended

Dec. 31, 2021

Loss And Loss Adjustment Expense Reserves

Schedule of Incurred and Paid Losses Net of Reinsurance

($ in thousands)
	Cumulative Incurred Losses and LAE, Net of Reinsurance For the Years Ended December 31,		As of December 31, 2021
Accident Year	2021 (unaudited)		Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
2021	$	4,338	$	1,292		N/A

	Cumulative Paid Losses and LAE, Net of Reinsurance For the year ended December 31, 2021
Accident Year	(unaudited)
2021	$	2,205

Schedule of Reconciliation of Net Incurred and Paid Loss Development to Liability for Loss and Loss Adjustment Expenses

A reconciliation of the net incurred and paid loss development tables to the liability for loss and loss adjustment expenses on the balance sheet is as follows. There was no activity with respect to net incurred and paid loss development as of December 31, 2020.

(in thousands)	As of December 31, 2021
Net Outstanding Liabilities
Liability for unpaid loss and LAE - net of reinsurance	$	2,133
Reinsurance Recoverable on Loss and LAE Reserves
Total reinsurance recoverable on unpaid loss and LAE		–
Total gross liability for unpaid claims and LAE	$	2,133

Summary of Changes in Outstanding Loss and Loss Adjustment Expense Reserves

A summary of changes in outstanding loss and loss adjustment expense reserves for the year ended December 31, 2021 is as follows. There was no activity with respect to loss and loss adjustment expense reserves for the year ended December 31, 2020.

(in thousands)	Year ended December 31, 2021
Balance, January 1, gross of reinsurance	$	–
Less reinsurance recoverable on loss and LAE expense reserves		–
Balance, January 1, net of reinsurance		–
Incurred related to:
Current year		4,338
Prior years		–
Paid related to:
Current year		(2,205	)
Prior years		–
Balance, December 31, net of reinsurance		2,133
Plus reinsurance recoverable related to loss and LAE expense reserves		–
Balance, December 31, gross of reinsurance	$	2,133

Schedule of Supplementary Information of Average Historical Claims Duration

The following supplementary information provides average historical claims duration as of December 31, 2021.

Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance (unaudited)
Age of loss (in years)	1		2		3		4		5		6
All Lines	50.8	%	-	%	-	%	-	%	-	%	-	%