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Summary Of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2012
Summary Of Significant Accounting Policies [Abstract]  
Summary Of Reinsurance Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended

June 30,

 

 

 

2012

 

 

2011

 

 

2012

 

 

2011

 

 Net assumed written premiums

 

$

12,044

 

 

$

11,740

 

 

$

28,334

 

 

$

26,126

 

 Net premiums earned

 

 

12,011

 

 

 

10,190

 

 

 

22,781

 

 

 

18,733

 

 Provision for claims

 

 

9,030

 

 

 

7,771

 

 

 

17,582

 

 

 

14,370

 

 Amortization of capitalized acquisition costs

 

 

331

 

 

 

246

 

 

 

610

 

 

 

459

 

Schedule Of Trust Assets And Reinsurance Liabilities

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

 

As of

 

 

 Balance Sheet location

 

June 30, 2012

 

December 31, 2011

 

 Trust assets

 Restricted cash and cash equivalents

 

 

$

48,297

 

 

$

42,026

 

 Unearned premium

 Accounts payable and accrued liabilities

 

 

 

37,888

 

 

 

32,335

 

 Claims reserve (1)

 Accounts payable and accrued liabilities

 

 

 

1,489

 

 

 

1,297

 

 

(1)           The claims reserve is estimated based on historical claims experience.
Summarizes Of Restricted Cash And Cash Equivalents

 

 

 

 

 

 

 

(In thousands)

As of

 

 

June 30, 2012

 

December 31, 2011

 

Cash related to secured financings

$

80,032

 

$

62,536

 

Cash held in trusts for future vehicle service contract claims (1)

 

48,350

 

 

42,143

 

Total restricted cash and cash equivalents

$

128,382

 

$

104,679

 

 

(1)   The unearned premium and claims reserve associated with the trusts are included in accounts payable and accrued liabilities in the consolidated balance sheets.  As of June 30, 2012, the outstanding cash balance includes $48,297 related to VSC Re and $53 related to a discontinued profit sharing arrangement.  As of December 31, 2011, the outstanding cash balance includes $42,026 related to VSC Re and $117 related to a discontinued profit sharing arrangement.

Schedule Of Restricted Securities Available For Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

As of June 30, 2012

 

 

Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Estimated Fair Value

 

Corporate bonds

$

860

 

$

30

 

$

(5

)

$

885

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

As of December 31, 2011

 

 

Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Estimated Fair Value

 

Corporate bonds

$

804

 

$

13

 

$

(7

)

$

810

 

Schedule Of Cost And Estimated Fair Values Of Debt Securities By Contractual Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

As of

 

 

June 30, 2012

 

December 31, 2011

 

 

Cost

 

Estimated Fair Value

 

Cost

 

Estimated Fair Value

 

Contractual Maturity

 

 

 

 

 

 

 

 

Within one year

$

202

 

$

213

 

$

45

 

$

44

 

Over one year to five years

 

658

 

 

672

 

 

759

 

 

766

 

Total restricted securities available for sale

$

860

 

$

885

 

$

804

 

$

810