Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2021

Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]

Summary of Activity in the Reserves for Unpaid Losses and Loss Adjustment Expense

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

	September 30,		September 30,
	2021		2020
Balance at January 1	$	789,768	$	620,355
Less reinsurance recoverable		357,200		274,275
Net balance at January 1		432,568		346,080
Incurred related to:
Current year		207,121		253,319
Loss portfolio transfer		—		21,700
Prior years		2,553		33,259
Total incurred		209,674		308,278
Paid related to:
Current year		64,292		67,146
Loss portfolio transfer		—		21,700
Prior years		130,623		177,325
Total paid		194,915		266,171
Net balance at September 30		447,327		388,187
Plus reinsurance recoverable		368,054		367,704
Balance at September 30	$	815,381	$	755,891

Impact of Net Prior Years Loss Development On Each Reporting Segment

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

	September 30,
	2021		2020
Specialty Commercial Segment	$	533	$	23,961
Standard Commercial Segment		(2,336)		2,350
Personal Segment		4,356		6,948
Corporate		—		—
Total unfavorable net prior year development	$	2,553	$	33,259