Equity Components [Axis]
Common Stock
Preferred Stock
Capital in Excess of Par
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Treasury Stock
Debt Security Category [Axis]
Fixed Maturity Securities Political Subdivisions Of States Territories And Possessions [Member]
Fixed Maturity Securities Corporate And Other Bonds Industrial And Miscellaneous [Member]
Fixed Maturity Securities Total Fixed Maturity Securities [Member]
Equity Securities Preferred Stocks [Member]
Equity Securities Common Stocks [Member]
Equity Securities Total Equity Securities [Member]
Investment Type [Axis]
Less Than One Year [Member]
One To Five Years [Member]
Five To Ten Years [Member]
More Than 10 Years [Member]
US Treasury Securities [Member]
Insurance Policy [Axis]
Changes In Unearned Premiums [Member]
Premiums Earned [Member]
Premiums Written [Member]
Fixed Maturity Securities Residential Mortgage and other asset backed securities [Member]
Residential mortgage-backed securities [Member]
Plan Name [Axis]
2014 Plan [Member]
Range [Axis]
2009
2010
2011
2012
2013
2014
2015
2016
2017
Concentration Risk Type [Axis]
Personal Lines [Member]
Personal Umbrella [Member]
Commercial Lines [Member]
Commercial Umbrella [Member]
Catastrophe [Member]
Longterm Debt Type [Axis]
5.50% Senior Unsecured Notes
Discount
Variable Rate [Axis]
Issuance costs
Long-term Debt, Type [Axis]
Asset Class [Axis]
Hedge Fund
Award Type [Axis]
Restricted Stock
U.S. Treasury Securities and Obligations of U.S. Government [Member]
2018
Fair Value Hierarchy and NAV [Axis]
Carrying Value [Member]
Investments by Category [Axis]
Fair Value [Member]
Level 1
Level 2
Level 3
Initial $833,333 [Member]
$833,333 - $4,500,000 [Member]
Over $4,500,000 [Member]
Initial $1,000,000 [Member]
$1,000,000 - $5,000,000 [Member]
Over $5,000,000 [Member]
Initial $500,000 [Member]
$500,000 - $4,500,000 [Member]
Initial $5,000,000 [Member]
$5,000,000 - $252,000,000 [Member]
Over $252,000,000 [Member]
$1,000,000 - $10,000,000 [Member]
Over $10,000,000 [Member]
Initial $750,000 [Member]
$750,000 - $4,500,000 [Member]
$5,000,000 - $320,000,000 [Member]
Over $320,000,000 [Member]
$5,000,000 - $450,000,000 [Member]
Over $450,000,000 [Member]
Document And Entity Information
Entity Registrant Name
Entity Central Index Key
Document Type
Document Period End Date
Amendment Flag
Current Fiscal Year End Date
Is Entity a Well-known Seasoned Issuer?
Is Entity a Voluntary Filer?
Is Entity's Reporting Status Current?
Entity Filer Category
Entity Common Stock, Shares Outstanding
Document Fiscal Period Focus
Document Fiscal Year Focus
Statement of Financial Position [Abstract]
Assets
Fixed-maturity securities, held-to-maturity, at amortized cost (fair value of $5,033,545 at June 30, 2018 and $5,150,076 at December 31, 2017)
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $145,707,769 at June 30, 2018 and $119,122,106 at December 31, 2017)
Equity securities, at fair value (cost of $17,291,038 at June 30, 2018 and $13,761,841 at December 31, 2017)
Other investments
Total investments
Cash and cash equivalents
Investment subscription receivable
Premiums receivable, net
Reinsurance receivables, net
Deferred policy acquisition costs
Intangible assets, net
Property and equipment, net
Deferred income taxes
Other assets
Total assets
Liabilities
Loss and loss adjustment expense reserves
Unearned premiums
Advance premiums
Reinsurance balances payable
Deferred ceding commission revenue
Accounts payable, accrued expenses and other liabilities
Deferred income taxes
Long-term debt, net
Total liabilities
Commitments and Contingencies
Stockholders' Equity
Preferred stock, $.01 par value; authorized 2,500,000 shares
Common stock, $.01 par value; authorized 20,000,000 shares; issued 11,685,904 shares at June 30, 2018 and 11,618,646 at December 31, 2017; outstanding 10,661,460 shares at June 30, 2018 and 10,631,837 shares at December 31, 2017
Capital in excess of par
Accumulated other comprehensive (loss) income
Retained earnings
Total
Treasury stock, at cost, 1,024,444 shares at June 30, 2018 and 986,809 shares at December 31, 2017
Total stockholders' equity
Total liabilities and stockholders' equity
Condensed Consolidated Balance Sheets Parenthetical
Fixed-maturity securities, held-to-maturity, fair value
Fixed-maturity securities, available-for-sale, amortized cost
Equity securities, available-for-sale, cost
Preferred stock, par value
Preferred stock, authorized shares
Common stock, par value
Common stock, authorized shares
Common stock, issued shares
Common stock, outstanding shares
Treasury stock, Shares
Income Statement [Abstract]
Revenues
Net premiums earned
Ceding commission revenue
Net investment income
Net (losses) gains on investments
Other income
Total revenues
Expenses
Loss and loss adjustment expenses
Commission expense
Other underwriting expenses
Other operating expenses
Depreciation and amortization
Interest expense
Total expenses
Income from operations before taxes
Income tax expense
Net income
Other comprehensive income (loss), net of tax
Gross change in unrealized gains (losses) on available-for-sale-securities
Reclassification adjustment for (losses) gains included in net income
Net change in unrealized (losses) gains
Income tax benefit (expense) related to items of other comprehensive (loss) income
Other comprehensive (loss) income, net of tax
Comprehensive income (loss)
Earnings per common share:
Basic
Diluted
Weighted average common shares outstanding
Basic
Diluted
Dividends declared and paid per common share
Statement [Table]
Statement [Line Items]
Beginning Balance, Shares
Beginning Balance, Amount
Cumulative effect of adoption of updated accounting guidance for equity financial instruments at January 1, 2018, Amount
Beginning Balance, Shares, as adjusted
Beginning Balance, Amount, as adjusted
Stock-based compensation
Shares deducted from exercise of stock options for payment of withholding taxes, Shares
Shares deducted from exercise of stock options for payment of withholding taxes, Amount
Vesting of restricted stock awards, Shares
Vesting of restricted stock awards, Amount
Shares deducted from restricted stock awards for payment of withholding taxes, Shares
Shares deducted from restricted stock awards for payment of withholding taxes, Amount
Exercise of stock options, Shares
Exercise of stock options, Amount
Acquisition of treasury stock, Shares
Acquisition of treasury stock, Amount
Dividends
Net income
Change in unrealized losses on available-for-sale securities, net of tax
Ending Balance, Shares
Ending Balance, Amount
Statement of Cash Flows [Abstract]
Cash flows from operating activities:
Adjustments to reconcile net income to net cash flows provided by operating activities:
Net losses (gains) on investments
Amortization of bond premium, net
Amortization of discount and issuance costs on long-term debt
Deferred income tax benefit
(Increase) decrease in operating assets:
Premiums receivable, net
Reinsurance receivables, net
Deferred policy acquisition costs
Other assets
Increase (decrease) in operating liabilities:
Loss and loss adjustment expense reserves
Unearned premiums
Advance premiums
Reinsurance balances payable
Deferred ceding commission revenue
Accounts payable, accrued expenses and other liabilities
Net cash flows provided by operating activities
Cash flows from investing activities:
Purchase - fixed-maturity securities available-for-sale
Purchase - equity securities
Sale and redemption - fixed-maturity securities held-to-maturity
Sale or maturity - fixed-maturity securities available-for-sale
Sale - equity securities available-for-sale
Acquisition of fixed assets
Net cash flows used in investing activities
Cash flows from financing activities:
Net proceeds from issuance of common stock
Proceeds from exercise of stock options
Withholding taxes paid on net exercise of stock options
Withholding taxes paid on vested retricted stock awards
Purchase of treasury stock
Dividends paid
Net cash flows (used in) provided by financing activities
(Decrease) increase in cash and cash equivalents
Cash and cash equivalents, beginning of period
Cash and cash equivalents, end of period
Supplemental disclosures of cash flow information:
Cash paid for income taxes
Cash paid for interest
Notes to Financial Statements
1. Nature of Business and Basis of Presentation
2. Accounting Policies
3. Investments
4. Fair Value Measurements
5. Fair Value of Financial Instruments and Real Estate
6. Property and Casualty Insurance Activity
Debt
7. Debt
8. Stockholders' Equity
9. Income Taxes
10. Earnings Per Common Share
11. Commitments and Contingencies
Deferred Compensation Plan
12. Deferred Compensation Plan
13. Subsequent Events
Use of Estimates
Principles of Consolidation
Accounting Changes
Accounting Pronouncements
Schedule of Available for Sale Securities
Schedule of Available for Sale Securities by contractual maturity
Schedule of Other Investments
Schedule of Held to Maturity Securities
Schedule of Held to Maturity Securities by contractual maturity
Schedule of Investment Income
Schedule of Securities with realized gains and losses on investments
Schedule of Securities with Unrealized Losses
Schedule of Fair Value Measurements
Schedule of Hedge Fund Investments
Schedule of Fair Value of Financial Instruments
Schedule of Earned Premiums
Schedule of Loss and Loss Adjustment Expenses
Allocated Claim Adjustment Expenses
Reconciliation of the net incurred and paid claims
Schedule of line of business
Schedule of Single maximum risks under treaties
Schedule of Ceding Commission Revenue
Debt Tables
Schedule of debt
Schedule of Stock Options And Restricted Stock Awards Activity
Schedule of Deferrred Tax Assets and Liabilities
Losses subject to Annual Limitation
Earnings Per Share [Abstract]
Schedule of Net Income Per Common Share
Commitments And Contingencies Tables
Schedule of future minimum rental commitments
Cost or Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses-Less than 12 Months
Gross Unrealized Loss-More than 12 Months
Fair Value
Net Unrealized Gains/(Losses)
Amortized Cost
Fair Value
Cost
Fair Value
Unrealized Gain
Cost or Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses-Less than 12 Months
Gross Unrealized Loss-More than 12 Months
Fair Value
Net Unrealized Gains/(Losses)
Amortized Cost
Fair Value
Investments Details 5
Income:
Fixed-maturity securities
Equity securities
Cash and cash equivalents
Total
Expenses:
Investment expenses
Net investment income
Investments Details 6
Fixed-maturity securities:
Gross realized gains
Gross realized losses
Total fixed-maturity securities
Equity securities:
Gross realized gains
Gross realized losses
Total equity securities
Net realized (losses) gains
Equity securities:
Gross gains
Gross losses
Total equity securities
Other investments:
Gross gains
Gross losses
Total other investments
Net unrealized losses
Fair Value-Less than 12 months
Unrealized Losses-Less than 12 Months
No. of Positions Held-Less than 12 Months
Fair Value-12 months or more
Unrealized Losses-12 months or more
No. of Positions Held-12 months or more
Aggregate Fair Value-Total
Unrealized Losses-Total
Investments Details Narrative
Proceeds from the sale and maturity of fixed-maturity securities
Proceeds from the sale of equity securities
U.S. Treasury securities and obligations of U.S. government corporations and agencies
Political subdivisions of States, Territories and Possessions
Corporate and other bonds industrial and miscellaneous
Residential mortgage and other asset backed securities
Total fixed maturities
Equity securities
Total investments
Hedge fund investments
Fixed-maturity securities held-to-maturity
Cash and cash equivalents
Premiums receivable
Reinsurance receivables
Real estate, net of accumulated depreciation
Reinsurance Policy, Type [Axis]
Direct
Assumed
Ceded
Net
Property And Casualty Insurance Activity Details 1
Balance at beginning of period
Less reinsurance recoverables
Net balance, beginning of period
Incurred related to:
Current year
Prior years
Total incurred
Paid related to:
Current year
Prior years
Total paid
Net balance at end of period
Add reinsurance recoverables
Balance at end of period
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Total
IBNR
Cumulative Number of Reported Claims
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Total
Net liability for unpaid claim and allocated claim adjustment expenses for the accident years presented
All outstanding liabilities before 2007, net of reinsurance
Liabilities for claims and claim adjustment expenses, net of reinsurance
Property And Casualty Insurance Activity Details 4
Liabilities for allocated loss and loss adjustment expenses, net of reinsurance
Total reinsurance recoverable on unpaid losses
Unallocated loss adjustment expenses
Total gross liability for loss and LAE reserves
Percent ceded
Percent ceded - first million dollars of coverage
Percent ceded - excess of one million dollars of coverage
Risk retained
Losses per occurrence subject to quota share reinsurance coverage
Excess of loss coverage above quota share coverage
In excess of
Total reinsurance coverage per occurrence
Losses per occurrence subject to reinsurance coverage
Expiration date
Initial loss subject to personal lines quota share treaty
Risk retained per catastrophe occurrence
Catastrophe loss coverage in excess of quota share coverage
Reinstatement premium protection
Risk Retained
Property And Casualty Insurance Activity Details 7
Provisional ceding commissions earned
Contingent ceding commissions earned
Total commissions earned
Property And Casualty Insurance Activity Details Narrative
Incurred Losses and Loss Adjustment Expenses are net of reinsurance recoveries under reinsurance contracts
Prior year loss development
Net contingent ceding commissions payable
Number of Options Outstanding, Beginning
Number of Options Granted
Number of Options Exercised
Number of Options Forfeited
Number of Options Outstanding, Ending
Number of Options Vested and Exercisable
Weighted Average Exercise Price Outstanding, Beginning
Weighted Average Exercise Price Granted
Weighted Average Exercise Price Exercised
Weighted Average Exercise Price Forfeited
Weighted Average Exercise Price Outstanding, Ending
Weighted Average Exercise Price Vested and Exercisable
Weighted Average Remaining Contractual Life (in years) Outstanding Beginning
Weighted Average Remaining Contractual Life (in years) Outstanding Ending
Weighted Average Remaining Contractual Life (in years) Vested and Exercisable
Aggregate Intrinsic Value Outstanding, Beginning
Aggregate Intrinsic Value Granted
Aggregate Intrinsic Value Exercised
Aggregate Intrinsic Value Forfeited/canceled
Aggregate Intrinsic Value Outstanding, Ending
Aggregate Intrinsic Value Vested and Exercisable
Dividends Declared
Stock-based compensation expense related to stock options is net of estimated forfeitures
Closing price of common stock
Total intrinsic value of options exercised
Unamortized compensation cost related to unvested stock option awards
Unamortized compensation cost vesting period
Shares reserved
Income Taxes Details
Deferred tax asset:
Net operating loss carryovers
Claims reserve discount
Unearned premium
Deferred ceding commission revenue
Net unrealized loss of securities - available for sale
Other
Total deferred tax assets
Deferred tax liability:
Investment in KICO
Deferred acquisition costs
Intangibles
Depreciation and amortization
Net unrealized appreciation of securities - available for sale
Total deferred tax liabilities
Net deferred income tax asset (liability)
Income Taxes Details 1
State only
Valuation allowance
State only, net of valuation allowance
Amount subject to Annual Limitation, Federal only
Total deferred tax asset from net operating loss carryovers
State only expiration date
Amount subject to Annual Limitation, Federal only expiration date
Income Taxes Details Narrative
Net operating loss carryover
Earnings Per Common Share Details
Weighted average number of shares outstanding
Effect of dilutive securities, common share equivalents, Stock options
Effect of dilutive securities, common share equivalents, Restricted stock awards
Weighted average number of shares outstanding, used for computing diluted earnings per share
2018 (six months)
2019
2020
2021
2022
Thereafter
Total
Lease and rental expenses
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Amortized Cost.
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Fair Value.
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Range fifty eight member.
Range fifty five member.
Range fifty four member.
Range fifty member.
Range fifty nine member.
Range fifty one member.
Range fifty seven member.
Range fifty six member.
Range fifty two member.
Range fifty three member.
Custom Element.
Range forty eight member.
Range forty nine member.
Range forty seven member.
Range forty six member.
Custom Element.
Custom Element.
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Range sixty member.
Custom Element.
Custom Element.
Custom Element.
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Investments
Assets [Default Label]
AdvancePremiums
Deferred Tax Assets, Net of Valuation Allowance, Current
Liabilities [Default Label]
Stockholders' Equity before Treasury Stock
Liabilities and Equity
Revenues [Default Label]
Benefits, Losses and Expenses
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax
Other Comprehensive Income (Loss), Net of Tax
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
Shares, Issued
Adjustments Related to Tax Withholding for Share-based Compensation
Gain (Loss) on Sale of Investments
Increase (Decrease) in Premiums Receivable
Increase (Decrease) in Reinsurance Recoverable
Increase (Decrease) in Deferred Policy Acquisition Costs
Increase (Decrease) in Other Operating Assets
Increase (Decrease) in Future Policy Benefit Reserves
Increase (Decrease) in Unearned Premiums
IncreseDecreseInAdvancePremiums
Increase (Decrease) in Reinsurance Payables
Increase (Decrease) in Deferred Revenue
Increase (Decrease) in Accounts Payable and Accrued Liabilities
Net Cash Provided by (Used in) Operating Activities
Payments to Acquire Available-for-sale Securities, Equity
Payments to Acquire Debt Securities, Available-for-sale
Payments to Acquire Other Property, Plant, and Equipment
Net Cash Provided by (Used in) Investing Activities
Payments for Repurchase of Common Stock
Payments of Dividends
Net Cash Provided by (Used in) Financing Activities
Cash and Cash Equivalents, Period Increase (Decrease)
FairValue
CostOrAmortizedCost
GrossUnrealizedGains
GrossUnrealizedLosseslessThan12Months
GrossUnrealizedLossmoreThan12Months
FairValue1
NetUnrealizedGainslosses1
AmortizedCostHeldToMaturitySecurities
FairValueHeldToMaturitySecurities
CashAndCashEquivalents
Investment Income, Net
Available-for-sale Securities, Gross Realized Gains
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments
AvailableforsaleSecuritiesNetUnrealizedGainLoss
GrossGainsOnOtherInvestments
GrossLossesOnOtherInvestments
EquityInvestments
Cash and Cash Equivalents, Fair Value Disclosure
PaidRelatedToCurrentYear
PaidRelatedToPriorYears
IncurredClaimsPropertyCasualtyAndLiability2009
IncurredClaimsPropertyCasualtyAndLiability2010
IncurredClaimsPropertyCasualtyAndLiability2011
IncurredClaimsPropertyCasualtyAndLiability2012
IncurredClaimsPropertyCasualtyAndLiability2013
IncurredClaimsPropertyCasualtyAndLiability2014
IncurredClaimsPropertyCasualtyAndLiability2015
IncurredClaimsPropertyCasualtyAndLiability2016
IncurredClaimsPropertyCasualtyAndLiability2017
IncurredClaimsPropertyCasualtyAndLiability2018
Policyholder Benefits and Claims Incurred, Net, Property, Casualty and Liability
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2009
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2010
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2011
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2012
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2013
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2014
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2015
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2016
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2017
ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpense2018
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number
NumberOfOptionsExercised
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value
DeferredCedingCommissionRevenue
Accumulated Amortization, Debt Issuance Costs, Noncurrent
Operating Leases, Future Minimum Payments Due