SCHEDULE V PROTECTIVE INSURANCE CORPORATION AND SUBSIDIARIES VALUATION ALLOWANCES AND QUALIFYING ACCOUNTS (in thousands) Additions Description Balance as of Beginning of Period Charged to Costs and Expenses Other Additions Deductions Balance as of End of Period January 1, 2018 Accounts receivable $ 484 $ 29 – $ 110 $ 403 Reinsurance recoverable 1,365 32 – 278 1,119  December 31, 2018 1,849 61 – 388 1,522 Accounts receivable 403 1,908 – 78 2,233  Reinsurance recoverable 1,119 52 – – 1,171 December 31, 2019 1,522 1,960 – 78 3,404  Fixed income securities – 1,035 – – 1,035 Accounts receivable 2,233 1,250 – 23 3,460  Reinsurance recoverable 1,171 – – 199 972 Deductible receivable allowance  (2) – 16,500 – – 16,500  Mortgage loans – 195 – – 195 December 31, 2020 $ 3,404 $ 18,980 – $ 222 $ 22,162  (1) Effective January 1, 2020 the Company adopted the measurement of credit losses on financial instruments accounting standard that primarily affected its accounts receivable, reinsurance recoverable and commercial mortgage loans balances. After consideration of existing valuation allowances maintained prior to adopting the new guidance, the Company increased its valuation allowance for credit losses at January 1, 2020 to conform to the new requirements. (2) In conjunction with the adoption of the credit losses accounting standard, the Company recorded an allowance for expected credit losses of $16,500 related to the PSG litigation matter. See Note T – Litigation, Commitments and Contingencies for further discussion. 95