NOTE 8 – LOSS AND LOSS ADJUSTMENT EXPENSES
The following tables shows changes in aggregate
reserves for the Company’s loss and loss adjustment expenses:
(in thousands)
|
|
2024 |
|
|
2023 |
|
Net reserves at April 1 |
|
$ |
236 |
|
|
$ |
84 |
|
Incurred loss and loss adjustment expenses |
|
|
|
|
|
|
|
|
Provisions for insured events of the current year |
|
|
4 |
|
|
|
63 |
|
Change in provision for insured events of prior year |
|
|
— |
|
|
|
— |
|
Total incurred loss and loss adjustment expense |
|
|
4 |
|
|
|
63 |
|
Payments |
|
|
|
|
|
|
|
|
Loss and loss adjustment expenses attributable to insured events of the current year |
|
|
2 |
|
|
|
4 |
|
Loss and loss adjustment expenses attributable to insured events of the prior year |
|
|
52 |
|
|
|
— |
|
Total payments |
|
|
54 |
|
|
|
4 |
|
Net reserves at June 30 |
|
$ |
186 |
|
|
$ |
143 |
|
(in thousands)
|
|
2024 |
|
|
2023 |
|
Net reserves at January 1 |
|
$ |
266 |
|
|
$ |
— |
|
Incurred loss and loss adjustment expenses |
|
|
|
|
|
|
|
|
Provisions for insured events of the current year |
|
|
8 |
|
|
|
147 |
|
Change in provision for insured events of prior year |
|
|
90 |
|
|
|
— |
|
Total incurred loss and loss adjustment expense |
|
|
98 |
|
|
|
147 |
|
Payments |
|
|
|
|
|
|
|
|
Loss and loss adjustment expenses attributable to insured events of the current year |
|
|
7 |
|
|
|
4 |
|
Loss and loss adjustment expenses attributable to insured events of the prior year |
|
|
171 |
|
|
|
— |
|
Total payments |
|
|
178 |
|
|
|
4 |
|
Net reserves at June 30 |
|
$ |
186 |
|
|
$ |
143 |
|
|