Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 998

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 998
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 Paid related to: 

    Current year 
     5,564  
     17,132  
     15,816 
  
    Prior years 
     11,179  
     32,512  
     12,632 
  
    Total paid 
     16,743  
     49,644  
     28,448 

    Westminster balances disposed in sale: 

    Liability for unpaid losses and loss adjustment expenses 
     107,508  
     —  
     — 
  
    Reinsurance recoverables on losses 
     45,320  
     —  
     — 
  
    Net balance, date of sale 
     62,188  
     —  
     — 

    Balance, end of year: 

    Liability for unpaid losses and loss adjustment expenses 
     —  
     97,934  
     76,163 
  
    Reinsurance recoverables on losses 
     —  
     42,509  
     28,989 
  
    Net balance, end of year 
    $—  
    $55,425  
    $47,174 

75 

The tables on the following pages present information,
organized by our primary operating segments, about incurred and paid claims development as of December 31, 2024, net of reinsurance, as
well as cumulative claim frequency and the total of IBNR reserves plus expected development on reported claims. The cumulative number
of reported claims represents open claims, claims closed with payment, and claims closed without payment. It does not include an estimated
amount for unreported claims. The number of claims is measured by claim event (such as a car accident or storm damage) and an individual
claim event may result in more than one reported claim (such as a car accident with both property and liability damages). The Company
considers a claim that does not result in a liability as a claim closed without payment. The segment information presented in the tables
is prior to the effects of the intercompany reinsurance pooling arrangement.

The tables include unaudited information about
incurred and paid claims development for the year ended December 31, 2015 for the Private Passenger Auto, Home and Farm, and Crop segments
and from the year ended December 31, 2015 through 2017 for the Non-Standard Auto information, which we present as