Insurance Reserves (Tables)

12 Months Ended

Dec. 31, 2012

The following table summarizes the insurance reserve activity for the years ended December 31, 2012, 2011 and 2010. The insurance reserve is included as a component of accounts payable and accrued liabilities in the Financial Services section of the accompanying consolidated balance sheets.


	Year Ended December 31,
	2012			2011			2010
	(Dollars in thousands)
Balance at beginning of period	$	49,376		$	51,576		$	49,631
Expense provisions		4,565			2,506			3,688
Cash payments		(8,020	)		(7,115	)		(5,959	)
Adjustments		1,931			2,409			4,216

Balance at end of period	$	47,852		$	49,376		$	51,576

- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

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