Dec 2014 single company financial statement question

How do i work out the following transaction below given the following information ?

Given:
Administrative expenses DR $16500000
Insurance provision CR $150 000

(iii) On 1 october 2012, moby received a renewal quote of $400000 from the company’s property insurer. The directors were surprised at how much it had increased and believed it would be less expensive for the company to self-insure. Accordingly, they charged $400000 to administrative expenses and credited the same amount to the insurance provision. During the year, the company incurred $250 000 of expenses relating to previously insured property damage which it has debited to the provision.