Policyholders' Liabilities

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Long-Duration Insurance Contracts Disclosure [Text Block]

The following table presents information on changes in the liability for life, accident and health and property policy and contract claims.

Years ended December 31, (In thousands)	2023		2022	2021
Policy claims payable:
Balance at January 1	$	9,884	14,590	13,206
Less:  reinsurance recoverable	2,070		2,469	3,012
Net balance at January 1	7,814		12,121	10,194
Add claims incurred, related to:
Current year	25,630		28,720	32,595
Prior years(1)	(522)		(46)	1,052
	25,108		28,674	33,647
Deduct claims paid, related to:
Current year	20,786		22,771	23,369
Prior years	6,797		10,210	8,351
	27,583		32,981	31,720
Net balance December 31	5,339		7,814	12,121
Plus:  reinsurance recoverable	1,298		2,070	2,469
Balance at December 31	$	6,637	9,884	14,590
(1) This line is primarily impacted by the level of claim resolutions in the period compared to that which is expected by the reserve assumption. A positive number implies an unfavorable result where claim resolutions were less favorable than assumed while a negative number implies a favorable result compared to assumptions. Our claim assumptions will vary from actual experience in any one period, either favorably or unfavorably.

SHORT DURATION CONTRACTS

The Company's short duration contracts consist of credit life and credit disability in the Life Insurance segment and property insurance in the Home Service Insurance segment. The credit insurance lines are an immaterial part of

short duration contracts so the following disclosures cover only the property insurance line of business in the Home Service Insurance segment.

Special Property Insurance (Allied and Fire)

The following table presents incurred claims development as of December 31, 2023, 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. This information is presented for the last five years as these claims rarely pay out over a longer period of time.

								As of December 31, 2023
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance							Total of Incurred-but-Not-Reported Liabilities Plus Expected Development on Reported Claims	Cumulative Number of Reported Claims
	For the Years Ended December 31,
($ In thousands)	2019		2020	2021	2022	2023
Accident Year:	(Unaudited)
2019	$	1,549	1,150	1,161	1,106	1,105		—	610
2020			2,598	2,670	2,577	2,694		—	2,415
2021				2,087	1,644	1,312		2	2,397
2022					1,213	1,262		4	362
2023						776		27	191
Total						$	7,149

The following table presents paid claims development as of December 31, 2023, net of reinsurance.

	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	Years Ended December 31,
(In thousands)	2019		2020	2021	2022	2023
Accident Year:	(Unaudited)
2019	$	1,166	1,071	1,091	1,105	1,105
2020			1,997	2,639	2,576	2,694
2021				1,435	1,638	1,311
2022					1,011	1,259
2023						755
Total						$	7,124
All outstanding liabilities before 2019, net of reinsurance						$	—
Liabilities for claims and claim adjustment expenses, net of reinsurance						$	33

The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated balance sheets are as follows:

As of December 31, (In thousands)	2023		2022
Net outstanding liabilities:
Special property	$	33	263
Other short duration insurance lines	151		158
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	184		421
Reinsurance recoverable on unpaid claims:
Special property	1,220		1,275
Other short duration insurance lines	78		798
Total reinsurance recoverable on unpaid claims	1,298		2,073
Insurance lines other than short duration	5,155		7,390
Total gross liability for unpaid claims and claim adjustment expense	$	6,637	9,884

The following is supplementary information to the consolidated financial statements about average historical claims duration as of December 31, 2023.

Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Unaudited)
Years	1		2		3		4		5
Special property	93	%	13	%	(8)	%	3	%	—	%