Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2019

Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]

Summary of Activity in Reserves for Unpaid Losses and LAE

Year to date activity in the consolidated reserves for unpaid losses and LAE is summarized as follows (in thousands):

	September 30,		September 30,
	2019		2018
Balance at January 1	$	527,247		527,100
Less reinsurance recoverable		221,716		154,612
Net balance at January 1		305,531		372,488
Incurred related to:
Current year		214,080		185,506
Prior years		7,781		6,062
Total incurred		221,861		191,568
Paid related to:
Current year		75,834		56,687
Prior years		146,929		184,337
Total paid		222,763		241,024
Net balance at September 30		304,629		323,032
Plus reinsurance recoverable		260,667		207,784
Balance at September 30	$	565,296	$	530,816

Impact of Net Prior Years Loss Development by Segment

The year to date impact from the unfavorable (favorable) net prior years’ loss development on each reporting segment is presented below:

	September 30,
	2019		2018
Specialty Commercial Segment	$	11,232	$	15,730
Standard Commercial Segment		(3,508)		(8,829)
Personal Segment		57		(839)
Corporate		—		—
Total unfavorable net prior year development	$	7,781	$	6,062