Quarterly report pursuant to Section 13 or 15(d)

Loss and Loss Adjustment Expenses

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Loss and Loss Adjustment Expenses
 6 Months Ended
Jun. 30, 2024
Loss And Loss Adjustment Expenses [Abstract]  
LOSS AND LOSS ADJUSTMENT EXPENSES

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