XML 47 R31.htm IDEA: XBRL DOCUMENT v3.22.0.1
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Summary of Deferred Policy Acquisition Cost Amortization and Net Advertising Expense
The table below presents a summary of deferred policy acquisition cost amortization and net advertising expense:
Year Ended December 31,
202120202019
(Amounts in millions)
Deferred policy acquisition cost amortization
$633.4 $627.8 $602.1 
Net advertising expense
50.1 37.7 42.2 
Effects of Reinsurance The effect of reinsurance on property and casualty premiums written and earned was as follows:
Year Ended December 31,
202120202019
 (Amounts in thousands)
Premiums Written
Direct $3,877,476 $3,624,965 $3,742,627 
Ceded(65,521)(50,630)(43,785)
Assumed13,361 8,012 919 
     Net$3,825,316 $3,582,347 $3,699,761 
Premiums Earned
Direct$3,764,626 $3,574,898 $3,626,857 
Ceded(65,017)(56,212)(56,725)
Assumed13,301 8,067 910 
     Net$3,712,910 $3,526,753 $3,571,042 
Premium Receivable, Allowance for Credit Loss
The following table presents a summary of changes in allowance for credit losses on premiums receivable:
 Year Ended December 31,
 202120202019
 
Beginning balance$10,000 $1,445 1,458 
     Cumulative effect of adopting ASU 2016-13— 1,855 — 
Beginning balance, as adjusted 10,000 3,300 1,458 
     Provision during the period for expected credit losses (893)10,294 6,162 
Write-off amounts during the period(3,693)(4,406)(7,000)
Recoveries during the period of amounts previously written off 586 812 825 
Ending balance $6,000 $10,000 $1,445 
Reinsurance Recoverable, Allowance for Credit Loss
The following table presents a summary of changes in allowance for credit losses on reinsurance recoverables:
 Year Ended December 31,
 202120202019
 
Beginning balance$91 $— $— 
     Cumulative effect of adopting ASU 2016-13— 159 — 
Beginning balance, as adjusted 91 159 — 
     Provision during the period for expected credit losses (91)(68)— 
Write-off amounts during the period— — — 
Recoveries during the period of amounts previously written off — — — 
Ending balance$— $91 $—