UVE: bbotcs I can not try and pretend to understand the accounting even though I wish I could. I just know that the press release today said this. Not sure what they do with the money if its not paid out in the future.
"Except for incurred losses and LAE of approximately $5.3 million, or 4.1 percent of direct earned premium, related to Tropical Storm Fay in the third quarter of 2008, the Company's loss experience did not vary significantly during the 2008 period compared to the 2007 period."
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