UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES (Tables)

6 Months Ended

Jun. 30, 2015

UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES [Abstract]

Reserve balances for losses and LAE, gross of reinsurance

The following table provides the reconciliation of the beginning and ending reserve balances for losses and LAE, gross of reinsurance for the three and six months ended June 30, 2015 and for June 30, 2014:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Reserve for losses and LAE, beginning of period	$	14,768,255		$	17,462,319		$	15,009,506		$	15,884,062
Reinsurance recoverables on losses and LAE		(13,650,287	)		(16,707,683	)		(13,995,400	)		(15,090,175	)
Reserve for losses and LAE, net of reinsurance recoverables at beginning of year		1,117,968			754,636			1,014,106			793,887

Add provision for claims and LAE occurring in:
Current year		2,084,556			1,036,258			2,475,033			1,135,234
Prior years		379,045			48,905			665,738			300,905

Net incurred losses and LAE during the current period		2,463,601			1,085,163			3,140,771			1,436,139

Deduct payments for claims and LAE occurring in:
Current year		1,113,943			845,517			1,339,558			1,013,116
Prior years		178,691			146,924			526,384			369,552

Net claim and LAE payments during the current period		1,292,634			992,441			1,865,942			1,382,668

Reserve for losses and LAE, net of reinsurance recoverables, at end of period		2,288,935			847,358			2,288,935			847,358

Reinsurance recoverables on losses and LAE		25,914,880			21,025,809			25,914,880			21,025,809

Reserve for losses and LAE, end of period	$	28,203,815		$	21,873,167		$	28,203,815		$	21,873,167

Homeowners of America Holding Corp 10-Q