v3.26.1
LPT Agreement
6 Months Ended
Jun. 30, 2026
LPT Agreement [Abstract]  
LPT Agreement LPT Agreement
The LPT Agreement, which ceded to the reinsurers substantially all of the Fund's outstanding losses as of June 30, 1999, for claims with original dates of injury prior to July 1, 1995, provides coverage for losses up to $2.0 billion, excluding losses for burial and transportation expenses. The Deferred Gain associated with the LPT Agreement continues to be amortized using the recovery method over the life of the LPT Agreement. The amortization of the Deferred Gain and any adjustments to the Deferred Gain are recorded in losses and LAE incurred in the Company's Consolidated Statements of Comprehensive Income (Loss).
The Company amortized $1.5 million and $1.7 million of the Deferred Gain for the three months ended June 30, 2026 and 2025, respectively, and $2.7 million and $3.3 million for the six months ended June 30, 2026 and 2025, respectively. The remaining Deferred Gain was $85.3 million and $88.0 million as of June 30, 2026 and December 31, 2025, respectively. The estimated remaining liabilities subject to the LPT Agreement were $251.6 million and $259.6 million as of June 30, 2026 and December 31, 2025, respectively. Losses and LAE paid with respect to the LPT Agreement totaled $921.1 million and $913.1 million from inception through June 30, 2026 and December 31, 2025, respectively.