Loss and Loss Expense Reserves

3 Months Ended

Mar. 31, 2017

Loss and Loss Expense Reserves [Abstract]

Loss and Loss Expense Reserves

(4) Loss and Loss Expense Reserves:

Activity in the reserves for losses and loss expenses for the three months ended March 31 is summarized as follows.  All amounts are shown net of reinsurance, unless otherwise indicated.

	2017		2016
Reserves at the beginning of the quarter	$	324,767	$	301,753
Provision for losses and loss expenses:
Claims occurring during the current quarter		48,487		39,861
Claims occurring during prior quarters		112		(1,238	)
Total incurred		48,599		38,623
Loss and loss expense payments:
Claims occurring during the current quarter		9,508		7,087
Claims occurring during prior quarters		41,814		35,526
Total paid		51,322		42,613
Reserves at the end of the quarter		322,044		298,296
Reinsurance recoverable on unpaid losses at the end of the quarter		256,797		226,498
Reserves, gross of reinsurance
recoverable, at the end of the quarter	$	578,841	$	524,794

The table above shows that a deficiency of $112 developed during the first three months of 2017 in the settlement of claims occurring on or before December 31, 2016.  This development is composed of individual claim savings and deficiencies which, in the aggregate, have resulted from the settlement of claims at amounts higher or lower than previously reserved and from changes in estimates of losses incurred but not reported as part of the normal reserving process.