Reinsurance

12 Months Ended

Dec. 31, 2018

Reinsurance [Abstract]

Reinsurance

REINSURANCE

A summary of reinsurance activity is as follows:

(In millions)	For the Years Ended December 31,
	2018		2017		2016
Net assumed written premiums	$	55.8	$	42.4	$	40.6
Net premiums earned	46.6		41.1		43.0
Provision for claims	26.0		22.7		26.0
Amortization of capitalized acquisition costs	1.2		1.0		1.1

The trust assets and related reinsurance liabilities are as follows:

(In millions)		As of December 31,
	Balance Sheet location	2018		2017
Trust assets	Restricted cash and cash equivalents	$	0.3	$	0.8
Trust assets	Restricted securities available for sale	58.6		46.1
Unearned premium	Accounts payable and accrued liabilities	43.3		34.1
Claims reserve (1)	Accounts payable and accrued liabilities	1.6		1.0

(1) The claims reserve represents our liability for incurred-but-not-reported claims and is estimated based on historical claims experience.

The following tables present information about incurred and paid claims development for the five-year period ended December 31, 2018:

(Dollars in millions)
	Cumulative Incurred Claims										As of December 31, 2018
Incident Year	As of December 31,										Claims Reserve		Cumulative Number of Reported Claims
	2014		2015		2016		2017		2018
2014	$	39.8	$	39.9	$	39.9	$	39.9	$	39.9	$	—	40,908
2015			33.1		33.4		33.4		33.4		—		32,909
2016					25.7		26.0		26.0		—		25,215
2017							22.3		22.5		—		20,457
2018									25.8		1.6		21,503
Total									$	147.6	$	1.6	140,992

(In millions)	Cumulative Paid Claims
	As of December 31,
Incident Year	2014		2015		2016		2017		2018
2014	$	38.3	$	39.9	$	39.9	$	39.9	$	39.9
2015			31.9		33.4		33.4		33.4
2016					24.7		26.0		26.0
2017							21.3		22.5
2018									24.2
Total									$	146.0

Average Annual Percentage Payout of Incurred Claims by Age
Claim Age (Years)	1		2		3		4		5
Payout Percentage	95.1	%	4.9	%	—	%	—	%	—	%