United Fire (UFCS) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 02, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-34257
Entity Registrant Name	UNITED FIRE GROUP INC
Entity Incorporation, State or Country Code	IA
Entity Tax Identification Number	45-2302834
Entity Address, Address Line One	118 Second Avenue SE
Entity Address, City or Town	Cedar Rapids
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	52401
City Area Code	319
Local Phone Number	399-5700
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	UFCS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,031,234
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000101199
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fixed maturities
Available-for-sale, at fair value (amortized cost $1,612,626 in 2020 and $1,659,760 in 2019; allowance for credit losses $8 in 2020 and $— in 2019)	$ 1,717,039	$ 1,719,607
Trading securities, at fair value (amortized cost $12,258 in 2020 and $11,941 in 2019)	14,811	15,256
Equity securities at fair value (cost $61,467 in 2020 and $67,529 in 2019)	198,791	299,203
Mortgage loans	47,809	42,520
Less: allowance for mortgage loan losses	76	72
Mortgage loans, net	47,733	42,448
Other long-term investments	62,903	78,410
Short-term investments	175	175
Total investments	2,041,452	2,155,099
Cash and cash equivalents	99,604	120,722
Accrued investment income	15,028	15,182
Premiums receivable (net of allowance for doubtful accounts of $812 in 2020 and $1,239 in 2019)	352,150	357,632
Deferred policy acquisition costs	94,223	94,292
Property and equipment (primarily land and buildings, at cost, less accumulated depreciation of $54,145 in 2020 and $50,183 in 2019)	127,990	116,989
Reinsurance receivables and recoverables (net of allowance for credit losses of $241 in 2020 and $— in 2019)	199,920	72,369
Prepaid reinsurance premiums	12,284	9,550
Goodwill and intangible assets	6,920	22,542
Income taxes receivable	57,388	19,190
Other assets	41,521	29,905
TOTAL ASSETS	3,048,480	3,013,472
Liabilities
Future policy benefits and losses, claims and loss settlement expenses
Losses and loss settlement expenses	1,555,083	1,421,754
Unearned premiums	499,730	505,162
Accrued expenses and other liabilities	156,874	155,498
Deferred tax liability	16,511	20,586
TOTAL LIABILITIES	2,228,198	2,103,000
Stockholders’ Equity
Common stock, $0.001 par value; authorized 75,000,000 shares; 25,031,234 and 25,015,963 shares issued and outstanding in 2020 and 2019, respectively	25	25
Additional paid-in capital	200,849	200,179
Retained earnings	568,501	697,116
Accumulated other comprehensive income, net of tax	50,907	13,152
TOTAL STOCKHOLDERS’ EQUITY	820,282	910,472
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,048,480	$ 3,013,472

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Cost or Amortized Cost	$ 1,612,626	$ 1,659,760
Available-for-sale securities, allowance for credit losses	8	0
Trading securities, amortized cost	12,258	11,941
Equity securities, cost	61,467	67,529
Allowance for doubtful accounts	812	1,239
Property and equipment accumulated depreciation	54,145	50,183
Reinsurance receivables and recoverables, allowance for credit losses	$ 241	$ 0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	25,031,234	25,015,963
Common stock, shares outstanding (in shares)	25,031,234	25,015,963

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Net premiums earned	$ 259,061	$ 274,942	$ 791,519	$ 813,742
Investment income, net of investment expenses	7,244	13,291	22,303	43,923
Net realized investment gains (losses) (includes reclassifications for net unrealized investment gains/(losses) on available-for-sale securities of $54 and $13 in 2020 and $130 and $257 in 2019; previously included in accumulated other comprehensive income)	15,212	9,822	(62,416)	50,126
Other income	604	0	6,323	0
Total revenues	282,121	298,055	757,729	907,791
Benefits, Losses and Expenses
Losses and loss settlement expenses	234,693	211,752	626,169	596,001
Amortization of deferred policy acquisition costs	52,095	54,828	158,440	161,842
Other underwriting expenses (includes reclassifications for employee benefit costs of $1,072 and $3,217 in 2020 and $1,124 and $3,372 in 2019; previously included in accumulated other comprehensive income)	35,470	36,003	114,020	104,370
Goodwill impairment	15,091	0	15,091	0
Total benefits, losses and expenses	337,349	302,583	913,720	862,213
Income (loss) before income taxes	(55,228)	(4,528)	(155,991)	45,578
Federal income tax expense (benefit) (includes reclassifications of $213 and $672 in 2020 and $209 and $654 in 2019; previously included in accumulated other comprehensive income)	(17,987)	(2,186)	(52,176)	7,595
Net Income (loss)	(37,241)	(2,342)	(103,815)	37,983
Other comprehensive income (loss)
Change in net unrealized appreciation on investments	4,116	15,410	44,586	77,360
Change in liability for underfunded employee benefit plans	0	0	0	0
Other comprehensive income, before tax and reclassification adjustments	4,116	15,410	44,586	77,360
Income tax effect	(864)	(3,237)	(9,363)	(16,246)
Other comprehensive income, after tax, before reclassification adjustments	3,252	12,173	35,223	61,114
Reclassification adjustment for net realized investment (gains) losses included in income	(54)	(130)	(13)	(257)
Reclassification adjustment for employee benefit costs included in expense	1,072	1,124	3,217	3,372
Total reclassification adjustments, before tax	1,018	994	3,204	3,115
Reclassifications for federal income tax benefit	(213)	(209)	(672)	(654)
Total reclassification adjustments, after tax	805	785	2,532	2,461
Comprehensive income (loss)	$ (33,184)	$ 10,616	$ (66,060)	$ 101,558
Diluted weighted average common shares outstanding (in shares)	25,031,234	25,176,334	25,023,401	25,643,744
Earnings (loss) per common share:
Basic (in dollars per share)	$ (1.49)	$ (0.09)	$ (4.15)	$ 1.51
Diluted (in dollars per share)	$ (1.49)	$ (0.09)	$ (4.15)	$ 1.48

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Reclassification adjustment for net unrealized investment gains (losses) included in income	$ 54	$ 130	$ 13	$ 257
Reclassification adjustment for employee benefit costs included in expense	1,072	1,124	3,217	3,372
Reclassifications for federal income tax expense (benefit)	$ (213)	$ (209)	$ (672)	$ (654)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands		Total		Cumulative effect of change in accounting principle	Common Stock	Additional paid-in capital	Retaining Earnings	Retaining EarningsCumulative effect of change in accounting principle	Accumulated other comprehensive income
Balance, beginning (in shares) at Dec. 31, 2018					25,097,408
Balance, beginning at Dec. 31, 2018		$ 888,375		$ (513)	$ 25	$ 203,350	$ 715,472	$ (513)	$ (30,472)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		44,521					44,521
Stock based compensation (in shares)					70,414
Stock based compensation		3,438				3,438
Dividends on common stock		(7,797)					(7,797)
Change in net unrealized investment appreciation	[1]	26,279							26,279
Change in liability for underfunded employee benefit plans	[2]	888							888
Balance, ending (in shares) at Mar. 31, 2019					25,167,822
Balance, ending at Mar. 31, 2019		955,191			$ 25	206,788	751,683		(3,305)
Balance, beginning (in shares) at Dec. 31, 2018					25,097,408
Balance, beginning at Dec. 31, 2018		888,375		(513)	$ 25	203,350	715,472	(513)	(30,472)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		37,983
Balance, ending (in shares) at Sep. 30, 2019					25,081,726
Balance, ending at Sep. 30, 2019		964,168			$ 25	202,504	728,536		33,103
Balance, beginning (in shares) at Mar. 31, 2019					25,167,822
Balance, beginning at Mar. 31, 2019		955,191			$ 25	206,788	751,683		(3,305)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(4,196)					(4,196)
Shares repurchased (in shares)					(1,507)
Shares repurchased		(69)				(69)
Stock based compensation (in shares)					78,885
Stock based compensation		2,252				2,252
Dividends on common stock		(8,325)					(8,325)
Change in net unrealized investment appreciation	[1]	22,562							22,562
Change in liability for underfunded employee benefit plans	[2]	888							888
Balance, ending (in shares) at Jun. 30, 2019					25,245,200
Balance, ending at Jun. 30, 2019		968,303			$ 25	208,971	739,162		20,145
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(2,342)					(2,342)
Shares repurchased (in shares)					(177,249)
Shares repurchased		(8,058)				(8,058)
Stock based compensation (in shares)					13,775
Stock based compensation		1,591				1,591
Dividends on common stock		(8,284)					(8,284)
Change in net unrealized investment appreciation	[1]	12,070							12,070
Change in liability for underfunded employee benefit plans	[2]	888							888
Balance, ending (in shares) at Sep. 30, 2019					25,081,726
Balance, ending at Sep. 30, 2019		$ 964,168			$ 25	202,504	728,536		33,103
Balance, beginning (in shares) at Dec. 31, 2019		25,015,963			25,015,963
Balance, beginning at Dec. 31, 2019		$ 910,472		(30)	$ 25	200,179	697,116	(30)	13,152
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(72,534)					(72,534)
Shares repurchased (in shares)					(70,467)
Shares repurchased		(2,741)				(2,741)
Stock based compensation (in shares)					70,597
Stock based compensation		879				879
Dividends on common stock		(8,249)					(8,249)
Change in net unrealized investment appreciation	[1]	4,500							4,500
Change in liability for underfunded employee benefit plans	[2]	847							847
Balance, ending (in shares) at Mar. 31, 2020					25,016,093
Balance, ending at Mar. 31, 2020		$ 833,144			$ 25	198,317	616,303		18,499
Balance, beginning (in shares) at Dec. 31, 2019		25,015,963			25,015,963
Balance, beginning at Dec. 31, 2019		$ 910,472		$ (30)	$ 25	200,179	697,116	$ (30)	13,152
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		$ (103,815)
Balance, ending (in shares) at Sep. 30, 2020		25,031,234			25,031,234
Balance, ending at Sep. 30, 2020		$ 820,282			$ 25	200,849	568,501		50,907
Balance, beginning (in shares) at Mar. 31, 2020					25,016,093
Balance, beginning at Mar. 31, 2020		833,144			$ 25	198,317	616,303		18,499
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		5,960					5,960
Stock based compensation (in shares)					15,141
Stock based compensation		1,479				1,479
Dividends on common stock		(8,267)					(8,267)
Change in net unrealized investment appreciation	[1]	27,504							27,504
Change in liability for underfunded employee benefit plans	[2]	847							847
Balance, ending (in shares) at Jun. 30, 2020					25,031,234
Balance, ending at Jun. 30, 2020		860,667			$ 25	199,796	613,996		46,850
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(37,241)					(37,241)
Stock based compensation		1,053				1,053
Dividends on common stock		(8,254)					(8,254)
Change in net unrealized investment appreciation		3,209	[1]						3,209
Change in liability for underfunded employee benefit plans		$ 848	[2]						848
Balance, ending (in shares) at Sep. 30, 2020		25,031,234			25,031,234
Balance, ending at Sep. 30, 2020		$ 820,282			$ 25	$ 200,849	$ 568,501		$ 50,907
[1]	The change in net unrealized appreciation is net of reclassification adjustments and income taxes.
[2]	The change in liability for underfunded employee benefit plans is net of reclassification adjustments and income taxes.

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends on common stock, per share (in dollars per share)	$ 0.33	$ 0.33	$ 0.33	$ 0.33	$ 0.33	$ 0.31

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows From Operating Activities
Net income (loss)	$ (103,815)	$ 37,983
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Net accretion of bond premium	7,719	7,074
Depreciation and amortization	5,009	4,235
Goodwill impairment	15,091	0
Stock-based compensation expense	3,979	5,248
Net realized investment (gains) losses	62,416	(50,126)
Net cash flows from equity and trading investments	37,552	911
Deferred income tax benefit	(21,824)	8,829
Changes in:
Accrued investment income	154	170
Premiums receivable	5,482	(40,792)
Deferred policy acquisition costs	69	(5,704)
Reinsurance receivables	(127,551)	3,664
Prepaid reinsurance premiums	(2,734)	(887)
Income taxes receivable	(38,198)	3,029
Other assets	(11,616)	(17,645)
Losses and loss settlement expenses	133,329	48,056
Unearned premiums	(5,432)	35,296
Accrued expenses and other liabilities	4,593	16,821
Deferred income taxes	7,713	(434)
Other, net	15,196	437
Cash from operating activities	90,947	18,182
Net cash provided by (used in) operating activities	(12,868)	56,165
Cash Flows From Investing Activities
Proceeds from sale of available-for-sale investments	16,907	36,490
Proceeds from call and maturity of available-for-sale investments	239,438	206,478
Proceeds from sale of other investments	5,391	3,607
Purchase of investments in mortgage loans	(5,564)	(10,723)
Purchase of investments available-for-sale	(216,001)	(151,528)
Purchase of other investments	(4,829)	(16,939)
Purchase of property and equipment	(15,506)	(27,796)
Net cash provided by investing activities	19,836	39,589
Cash Flows From Financing Activities
Issuance of common stock	(568)	2,033
Repurchase of common stock	(2,741)	(8,127)
Payment of cash dividends	(24,777)	(24,406)
Net cash used in financing activities	(28,086)	(30,500)
Net Change in Cash and Cash Equivalents	(21,118)	65,254
Cash and Cash Equivalents at Beginning of Period	120,722	64,454
Cash and Cash Equivalents at End of Period	$ 99,604	$ 129,708

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	NATURE OF OPERATIONS AND BASIS OF PRESENTATION Nature of Business United Fire Group, Inc. ("UFG," the "Registrant," the "Company," "we," "us," or "our") and its consolidated subsidiaries and affiliates are engaged in the business of writing property and casualty insurance through a network of independent agencies. Our insurance company subsidiaries are licensed as property and casualty insurers in 48 states and the District of Columbia. Basis of Presentation The unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions to Form 10-Q and Regulation S-X promulgated by the SEC. Certain financial information that is included in our Annual Report on Form 10-K for the year ended December 31, 2019, including certain financial statement footnote disclosures, is not required by the rules and regulations of the SEC for interim financial reporting and has been condensed or omitted. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statement categories that are most dependent on management estimates and assumptions include: investments; deferred policy acquisition costs; reinsurance receivables and recoverables; loss settlement expenses; and pension and post-retirement benefit obligations. Certain prior year amounts have been reclassified to conform to the current year presentation. Management of UFG believes the accompanying unaudited Consolidated Financial Statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. All significant intercompany transactions have been eliminated in consolidation. The results reported for the interim periods are not necessarily indicative of the results of operations that may be expected for the year. The unaudited Consolidated Financial Statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019. Segment Information On September 19, 2017, the Company announced that it had agreed to sell its subsidiary, United Life Insurance Company ("United Life"), to Kuvare US Holdings, Inc. ("Kuvare"). The sale closed on March 30, 2018. Prior to the announcement to sell United Life, we had two reportable business segments in our operations: property and casualty insurance and life insurance. The property and casualty insurance business has six domestic locations from which it conducts its direct business. The life insurance segment operated from our home office in Cedar Rapids, Iowa. Because all of our insurance is sold domestically, we have no revenues from foreign operations. After the announcement of the United Life transaction, our continuing operations, the property and casualty insurance business, was reported as one reportable segment. The property and casualty insurance business profit or loss is consistent with consolidated reporting as disclosed on the Consolidated Statements of Income and Comprehensive Income. We analyze the property and casualty insurance business results based on profitability (i.e., loss ratios), expenses and return on equity. The Company's property and casualty insurance business was determined using a management approach to make decisions on operating matters, including allocating resources, assessing performance, determining which products to market and sell, determining distribution networks with insurance agents and monitoring the regulatory environment. The property and casualty insurance business products have similar economic characteristics and use a similar marketing and distribution strategy with our independent agents. The property and casualty insurance business geographic concentration did not change after the announcement of the sale of the life insurance business. We will continue to evaluate our continuing operations on the basis of both statutory accounting principles prescribed or permitted by our states of domicile and GAAP. Discontinued Operations On September 18, 2017, the Company signed a definitive agreement to sell its subsidiary, United Life, to Kuvare for $280,000 in cash, less a $21 adjustment as set forth in the definitive agreement, for a net amount of $279,979. The sale closed on March 30, 2018 (the "closing date") and we reported an after-tax gain on the sale of discontinued operations of $27,307. The life insurance business (previously reported as a separate segment) was considered held for sale and reported as discontinued operations and its financial position, results of operations and cash flows were reported separately for all periods presented, as applicable, unless otherwise noted. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash, money market accounts, and non-negotiable certificates of deposit with original maturities of three months or less. For the nine-month periods ended September 30, 2020 and 2019, we made payments for income taxes totaling $125 and $1,556, respectively. We did not receive a tax refund during the nine-month period ended September 30, 2020 and we received a tax refund of $5,401 during the nine-month period ended September 30, 2019. For the nine-month periods ended September 30, 2020 and 2019, we made no interest payments (excluding interest credited to policyholders’ accounts). Deferred Policy Acquisition Costs ("DAC") Certain costs associated with underwriting new business (primarily commissions, premium taxes and variable underwriting and policy issue expenses associated with successful acquisition efforts) are deferred. The following table is a summary of the components of DAC, including the related amortization recognized for the nine-month period ended September 30, 2020. Total Recorded asset at beginning of period $ 94,292 Underwriting costs deferred 158,371 Amortization of deferred policy acquisition costs (158,440) Recorded asset at September 30, 2020 $ 94,223 Property and casualty insurance policy acquisition costs deferred are amortized as premium revenue is recognized. The method followed in computing DAC limits the amount of such deferred costs to their estimated realizable value. This takes into account the premium to be earned, losses and loss settlement expenses expected to be incurred and certain other costs expected to be incurred as the premium is earned. Goodwill Goodwill assets arise as a result of business combinations and consist of the excess of the fair value of consideration paid over the tangible assets acquired and liabilities assumed. All of our goodwill assets relate to the acquisition of Mercer Insurance Group, Inc. on March 28, 2011. We evaluate goodwill assets for impairment at least on an annual basis or whenever events or changes in circumstances indicate that it is more likely than not that the carrying amount of goodwill assets may exceed their implied fair value. Any impairment is recognized in the period that the impairment is identified. During the third quarter of 2020, we completed a quantitative analysis of our goodwill as a result of the following factors: (i) disruptions in the equity markets, specifically for property and casualty insurance companies, as a result of the COVID-19 pandemic and due to the current year weather related catastrophes; and (ii) the fair value of our stock trading significantly below book value. As a result of the quantitative analysis, we recorded an impairment charge of $15,091 as of September 30, 2020. The impairment charge was determined based on completion of both a discounted cash flow and market value analysis. Income Taxes On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating loss ("NOL") carryovers and carrybacks to offset 100 percent of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The Company has considered the implications of the CARES Act on its tax provision and has included an income tax benefit of $17.8 million as the result of this Act. Deferred tax assets and liabilities are established based on differences between the financial statement bases of assets and liabilities and the tax bases of those same assets and liabilities, using the currently enacted statutory tax rates. Deferred income tax expense is measured by the year-to-year change in the net deferred tax asset or liability, except for certain changes in deferred tax amounts that affect stockholders' equity and do not impact federal income tax expense. We reported consolidated federal income tax benefit of $52,176 for the nine-month period ended September 30, 2020 compared to income tax expense of $7,595 during the same period of 2019. Our effective tax rate is different than the federal statutory rate of 21 percent, due principally to the impact of the provisions of the CARES Act. The Company performs a quarterly review of its tax positions and makes a determination of whether it is more likely than not that the tax position will be sustained upon examination. If, based on review, it appears not more likely than not that the positions will be sustained, the Company will calculate any unrecognized tax benefits and, if necessary, calculate and accrue any related interest and penalties. We did not recognize any liability for unrecognized tax benefits at September 30, 2020 or December 31, 2019. In addition, we have not accrued for interest and penalties related to unrecognized tax benefits. However, if interest and penalties would need to be accrued related to unrecognized tax benefits, such amounts would be recognized as a component of federal income tax expense. We file a consolidated federal income tax return. We also file income tax returns in various state jurisdictions. We are no longer subject to federal or state income tax examination for years before 2015. The Internal Revenue Service is conducting an examination of our federal income tax return for the 2017 tax year. Leases The Company determines if a contract contains a lease at inception of the contract. The Company's inventory of leases consists of operating leases which are recorded as a lease obligation liability disclosed in the "Accrued expenses and other liabilities" line on the Consolidated Balance Sheets and as a lease right-of-use asset disclosed in the "Other assets" line on the Consolidated Balance Sheets. The Company's operating leases consist of office space, vehicles, computer equipment and office equipment. The lease right-of-use asset represents the Company's right to use each underlying asset for the lease term and the lease obligation liability represents the Company's obligation over the lease term. The Company's lease obligation is recorded at the present value of the lease payments based on the term of the applied lease. Short-term leases of 12 months or less are recorded on the Consolidated Balance Sheets and lease payments are recognized on the Consolidated Statements of Income and Comprehensive Income. For more information on leases refer to Note 10 "Leases." Variable Interest Entities The Company and certain related parties are equity investors in one investment in which the Company determined is a variable interest entity ("VIE") as a result of participation in the risks and rewards of the VIE based on the objectives and strategies of the VIE. The VIE is a limited liability company that primarily invests in commercial real estate. The Company and certain related parties are not the primary beneficiary largely due to their inability to influence management or direct the activities that most significantly impact the VIE's economic performance. Based on these facts and circumstances, the Company has a variable interest in the VIE, but has not consolidated the VIE's financial results as it is not the primary beneficiary. The Company's investment is reported in other long-term investments in the Consolidated Balance Sheets and accounted for under the equity method of accounting. The fair value of the VIE at September 30, 2020 wa s $3,638 and there are no future funding commitments. Credit Losses The Company recognizes credit losses for our available-for-sale fixed-maturity portfolio, reinsurance receivables, mortgage loans and premium receivables by setting up allowances which are remeasured each reporting period and recorded in the Consolidated Statements of Income and Comprehensive Income. For our available-for-sale fixed-maturity portfolio an allowance for credit losses is recorded net of available-for-sale fixed maturities in the Consolidated Balance Sheets and a corresponding credit loss recognized as a realized loss or gain in the Consolidated Statements of Income and Comprehensive Income. The Company determines if an allowance for credit losses is recorded based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value vs. amortized cost, investment spreads widening or contracting, rating actions, payment and default history. The Company does not recognize an allowance for credit losses for accrued interest receivable for available-for-sale fixed-maturity securities, which is recorded in "Accrued investment income" in the Consolidated Balance Sheets and "Investment income, net of investment expenses" in the Consolidated Statements of Income and Comprehensive Income. The Company considers collections of accrued investment income within six months to be timely and therefore not requiring a write-off. If a write-off is required for accrued investment income outstanding greater than six months, the Company writes off accrued interest by reversing net investment income. For more information on credit losses and the allowance for credit losses for available-for-sale fixed-maturity portfolio, see Note 2 "Summary of Investments." An allowance for mortgage loan losses is established based on historical loss information of the collective pool of the Company's commercial mortgage loan investments which have similar risk characteristics. To calculate the allowance for mortgage loan losses, the Company starts with historical loan experience to predict the future expected losses and then layers on a market-linked adjustment. On a quarterly basis, quantitative credit risk metrics, including for example, cash-flows, rent rolls and financial statements are reviewed for each loan to determine if it is performing in line with its expectations. This allowance is presented as a separate line in the Consolidated Balance Sheets beneath the asset value as well as presented net and recorded through "Net realized investment gains (losses)" in the Consolidated Statements of Income and Comprehensive Income. For more information on credit losses and the allowance for credit losses for our investment in mortgage loans see Note 3 "Fair Value of Financial Instruments." For reinsurance receivables, the Company's model estimates expected credit loss by multiplying the exposure at default by both the probability of default and loss given default ("LGD"). The LGD is estimated by the rating of the Company, historical relationship with UFG, existence of letters of credit and known regulation the Company may be held accountable for. The ultimate LGD percentage is estimated after considering Moody’s experience with unsecured year 1 bond recovery rates from 1983-2017. The allowance calculated as of September 30, 2020 is recorded through the line "Reinsurance receivables and recoverables" in the Consolidated Balance Sheets and through the line "Other underwriting expenses" in the Consolidated Statements of Income and Other Comprehensive Income. As of September 30, 2020, the Company had a credit loss allowance for reinsurance receivables of $241. Rollforward of credit loss allowance for reinsurance receivable: As of September 30, 2020 Beginning balance, January 1, 2020 $ 38 Current-period provision for expected credit losses 203 Write-off charged against the allowance, if any — Recoveries of amounts previously written off, if any — Ending balance of the allowance for reinsurance receivable, September 30, 2020 $ 241 With respect to premiums receivable, the Company utilizes an aging method to estimate credit losses. An allowance for doubtful accounts is based on a periodic evaluation of the aging and collectability of amounts due from agents and policyholders. "Premiums receivable" are presented in the Consolidated Balance Sheets net of an estimated allowance for doubtful accounts and recorded through "Other underwriting expenses" in the Consolidated Statements of Income and Comprehensive Income. Subsequent Events In the preparation of the accompanying financial statements, the Company has evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure in the Company's financial statements. COVID-19 Pandemic The COVID-19 pandemic caused significant financial market volatility, economic uncertainty and interruptions to normal business activities in the first nine months of 2020. As of the date of this report, we expect the effect of COVID-19 on claims currently under our coverages to be manageable, based on the information presently available. However, the effects of the COVID-19 pandemic continue to evolve and we cannot predict the extent to which our business, results of operations, financial condition, liquidity, capital position, the value of investments we hold in our investment portfolio, premiums and the demand for our products and our ability to collect premiums or requirement to return premiums to our policyholders, will ultimately be impacted. Additionally, if established written contract policy exclusions of business interruption coverage for losses attributable to the COVID-19 pandemic are voided or changed through legislation, regulations or interpretations by the courts, such changes have the potential to materially increase claims, losses and legal expenses which may impact our business, financial condition, results of operations or liquidity. See further discussion in Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations. Recently Issued Accounting Standards Accounting Standards Adopted in 2020 Intangibles - Other Internal Use Software In August 2018, the FASB issued guidance to align the requirements for capitalizing implementation costs incurred in a cloud computing hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance requires the Company to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The new guidance was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance as of January 1, 2020. The adoption did not have a significant impact on the Company's financial position or results of operations. Financial Instruments - Credit Losses In June 2016, the FASB issued new guidance on the measurement of credit losses for most financial instruments. The new guidance replaces the incurred loss model for recognizing credit losses with an expected loss model for instruments measured at amortized cost and requires allowances to be recorded for available-for-sale debt securities rather than reduce the carrying amount. These allowances are remeasured each reporting period. The new guidance was effective for annual periods beginning after December 15, 2019 and interim periods within those years. The new guidance impacted the Company's impairment model related to our available-for-sale fixed-maturity portfolio, reinsurance receivables and mortgage loans. The Company has performed a run of the credit loss models as of January 1, 2020. These models resulted in an immaterial expected credit loss at January 1, 2020. Prior to the adoption of the new guidance, the Company utilized an aging method to estimate credit losses on premiums receivable. This aging method is permitted under the new guidance. The Company adopted the new guidance prospectively as of January 1, 2020 with an immaterial estimated cumulative effect adjustment to opening retained earnings. This cumulative effect adjustment is an allowance related to the Company's reinsurance receivables. The adoption of the new guidance did not have a material impact on the Company's financial position and results of operations. Goodwill In January 2017, the FASB issued new guidance which simplifies the test for goodwill impairment. The new guidance eliminates the implied fair value calculation when measuring a goodwill impairment charge. Under the new guidance, impairment charges are based on the excess of the carrying value over fair value of goodwill. The new guidance was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance as of January 1, 2020. The adoption did not have a significant impact on the Company's financial position or results of operations. Financial Instruments - Disclosures In August 2018, the FASB issued new guidance which modifies the disclosure requirements on fair value measurements of financial instruments. The new guidance removes the requirement for disclosing the amount and reason for transfers between Level 1 and Level 2 investment securities and the valuation processes for Level 3 fair value measurements. The guidance also requires additional disclosures on the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The new guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance as of January 1, 2020. The adoption modified existing fair value disclosures, but did not have an impact on the Company's financial position or results of operations. Pending Adoption of Accounting Standards Defined Benefit Plans - Disclosures In August 2018, the FASB issued new guidance which modifies the disclosure requirements for employers that sponsor defined benefit pension and postretirement plans. The new guidance removes the requirement for disclosing the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit costs in the next year and the sensitivity of postretirement health plans to one-percentage-point changes in medical trend rates. The new guidance is effective for annual periods beginning after December 15, 2020. The Company will adopt the new guidance as of January 1, 2021. Management currently believes the new guidance will modify existing disclosures, but will not have an impact on the Company's financial position and results of operations.

Summary of Investments

Summary of Investments	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	SUMMARY OF INVESTMENTS Fair Value of Investments A reconciliation of the amortized cost (cost for equity securities) to fair value of investments in available-for-sale fixed maturity and equity securities, presented on a consolidated basis, as of September 30, 2020 and December 31, 2019, is provided below: September 30, 2020 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 53,877 $ 730 $ 8 $ 54,599 $ — $ 54,599 U.S. government agency 60,503 4,457 — 64,960 — 64,960 States, municipalities and political subdivisions General obligations: Midwest 79,872 4,106 — 83,978 — 83,978 Northeast 29,124 1,426 — 30,550 — 30,550 South 105,290 5,295 — 110,585 — 110,585 West 102,772 7,175 — 109,947 — 109,947 Special revenue: Midwest 126,251 8,590 — 134,841 — 134,841 Northeast 58,287 4,557 — 62,844 — 62,844 South 220,904 17,446 — 238,350 — 238,350 West 133,934 9,168 — 143,102 — 143,102 Foreign bonds 26,413 1,835 230 28,018 — 28,018 Public utilities 77,147 7,155 — 84,302 — 84,302 Corporate bonds Energy 24,912 2,589 — 27,501 — 27,501 Industrials 39,558 3,499 — 43,057 — 43,057 Consumer goods and services 45,250 3,790 12 49,028 — 49,028 Health care 6,674 895 — 7,569 — 7,569 Technology, media and telecommunications 37,241 4,330 — 41,571 — 41,571 Financial services 95,696 7,030 267 102,459 8 102,451 Mortgage-backed securities 14,333 305 109 14,529 — 14,529 Collateralized mortgage obligations Government national mortgage association 71,992 5,206 1 77,197 — 77,197 Federal home loan mortgage corporation 119,006 3,019 349 121,676 — 121,676 Federal national mortgage association 83,276 2,579 406 85,449 — 85,449 Asset-backed securities 314 621 — 935 — 935 Total Available-for-Sale Fixed Maturities $ 1,612,626 $ 105,803 $ 1,382 $ 1,717,047 $ 8 $ 1,717,039 December 31, 2019 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 69,300 $ 203 $ 12 $ 69,491 U.S. government agency 97,962 2,344 104 100,202 States, municipalities and political subdivisions General obligations: Midwest 85,607 2,987 — 88,594 Northeast 30,120 1,150 — 31,270 South 111,688 3,515 — 115,203 West 105,569 4,748 — 110,317 Special revenue: Midwest 133,717 6,175 — 139,892 Northeast 58,665 2,878 — 61,543 South 224,214 10,452 — 234,666 West 138,557 6,287 — 144,844 Foreign bonds 4,936 181 — 5,117 Public utilities 60,950 2,701 — 63,651 Corporate bonds Energy 28,695 1,429 — 30,124 Industrials 52,249 1,766 — 54,015 Consumer goods and services 47,131 2,335 — 49,466 Health care 8,998 482 — 9,480 Technology, media and telecommunications 25,931 1,739 — 27,670 Financial services 96,613 3,870 230 100,253 Mortgage-backed securities 6,250 127 21 6,356 Collateralized mortgage obligations Government national mortgage association 78,400 2,053 97 80,356 Federal home loan mortgage corporation 123,572 1,150 220 124,502 Federal national mortgage association 70,322 1,631 108 71,845 Asset-backed securities 314 436 — 750 Total Available-for-Sale Fixed Maturities $ 1,659,760 $ 60,639 $ 792 $ 1,719,607 Maturities The amortized cost and fair value of available-for-sale and trading fixed maturity securities at September 30, 2020, by contractual maturity, are shown in the following tables. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity. Maturities Available-For-Sale Trading September 30, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 53,911 $ 54,386 $ 1,957 $ 3,935 Due after one year through five years 365,831 388,192 9,221 9,265 Due after five years through 10 years 401,105 433,321 — — Due after 10 years 502,858 541,362 1,080 1,611 Asset-backed securities 314 935 — — Mortgage-backed securities 14,333 14,529 — — Collateralized mortgage obligations 274,274 284,322 — — Allowance for credit losses — (8) — — $ 1,612,626 $ 1,717,039 $ 12,258 $ 14,811 Net Realized Investment Gains and Losses Net realized gains on disposition of investments are computed using the specific identification method and are included in the computation of net income. A summary of the components of net realized investment gains (losses) is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net realized investment gains (losses): Fixed maturities: Available-for-sale $ 52 $ 129 $ 52 $ 271 Allowance for credit losses 2 — (8) — Trading securities Change in fair value 248 43 (760) 2,290 Sales 134 8 (20) 100 Equity securities Change in fair value 21,962 9,692 (38,876) 46,825 Sales (7,186) (50) (22,772) 655 Mortgage loans allowance for credit losses — — (4) (15) Real estate — — (28) — Total net realized investment gains (losses) $ 15,212 $ 9,822 $ (62,416) $ 50,126 The proceeds and gross realized gains on the sale of available-for-sale fixed maturity securities are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Proceeds from sales $ — $ — $ 16,907 $ 36,490 Gross realized gains — — 198 30 Gross realized losses — — 495 13 Our investment portfolio includes trading securities with embedded derivatives. These securities are primarily convertible securities which are recorded at fair value. Income or loss, including the change in the fair value of these trading securities, is recognized currently in earnings as a component of net realized investment gains. Our portfolio of trading securities had a fair value of $14,811 and $15,256 at September 30, 2020 and December 31, 2019, respectively. Funding Commitment Pursuant to an agreement with one of our limited liability partnership investments, we are contractually committed through July 10, 2030 to make capital contributions upon request of the partnership. Our remaining potential contractual obligation was $10,284 at September 30, 2020. In addition, the Company invested $25,000 in December 2019 in a limited liability partnership investment fund which is subject to a 3-year lockup with a 60 day minimum notice, with 4 possible repurchase dates per year, after the 3-year lockup period is met. The fair value of the investment at September 30, 2020 was $24,035 and there are no remaining capital contributions with this investment. Unrealized Appreciation A summary of the changes in net unrealized investment appreciation during the reporting period is as follows: Nine Months Ended September 30, 2020 2019 Change in net unrealized investment appreciation Available-for-sale fixed maturities $ 44,574 $ 77,103 Income tax effect (9,361) (16,192) Total change in net unrealized investment appreciation, net of tax $ 35,213 $ 60,911 Credit Risk An allowance for credit losses is recorded based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value vs. amortized cost, investment spreads widening or contracting, rating actions, payment and default history. The following table contains a rollforward of the allowance for credit losses for available-for-sale fixed maturity securities at September 30, 2020: Rollforward of allowance for credit losses for available-for-sale fixed maturity securities: As of September 30, 2020 Beginning balance, January 1, 2020 $ — Additions to the allowance for credit losses for which credit losses were not previously recorded 8 Reductions for securities sold during the period (realized) — Writeoffs charged against the allowance — Recoveries of amounts previously written off — Ending balance, September 30, 2020 $ 8 The following tables summarize our fixed maturity securities that were in an unrealized loss position reported on a consolidated basis at September 30, 2020 and December 31, 2019. The securities are presented by the length of time they have been continuously in an unrealized loss position. Non-credit related unrealized losses are recognized as a component of other comprehensive income and represent other market movements that are not credit related, for example interest rate changes. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature. September 30, 2020 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 2 $ 11,804 $ 8 — $ — $ — $ 11,804 $ 8 Foreign bonds 1 $ 2,776 $ 230 — $ — $ — $ 2,776 $ 230 Corporate bonds Consumer goods and services 1 2,196 12 — — — 2,196 12 Financial services 1 2,998 2 1 3,000 9 5,998 11 Mortgage-backed securities 2 9,118 107 6 157 2 9,275 109 Collateralized mortgage obligations Federal home loan mortgage corporation 14 48,062 348 1 57 1 48,119 349 Federal national mortgage association 10 43,684 406 — — — 43,684 406 Government national mortgage association — — — 1 76 1 76 1 Total Available-for-Sale Fixed Maturities 31 $ 120,638 $ 1,113 9 $ 3,290 $ 13 $ 123,928 $ 1,126 The unrealized losses on our investments in available-for-sale fixed maturities were the result of interest rate movements. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature. December 31, 2019 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Depreciation Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury — $ — $ — 2 $ 4,733 $ 12 $ 4,733 $ 12 U.S. government agency 3 13,846 104 — — — 13,846 104 Corporate bonds Financial services 3 10,906 142 1 4,913 88 15,819 230 Mortgage-backed securities — — — 13 1,585 21 1,585 21 Collateralized mortgage obligations Federal home loan mortgage corporation 12 50,829 183 3 4,844 37 55,673 220 Federal national mortgage association 4 23,515 90 3 1,102 18 24,617 108 Government national mortgage association 2 8,444 38 5 3,053 59 11,497 97 Total Available-for-Sale Fixed Maturities 24 $ 107,540 $ 557 27 $ 20,230 $ 235 $ 127,770 $ 792

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS Current accounting guidance on fair value measurements includes the application of a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Our financial instruments that are recorded at fair value are categorized into a three-level hierarchy, which is based upon the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (i.e., Level 1) and the lowest priority to unobservable inputs (i.e., Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the financial instrument. Financial instruments recorded at fair value are categorized in the fair value hierarchy as follows: • Level 1 : Valuations are based on unadjusted quoted prices in active markets for identical financial instruments that we have the ability to access. • Level 2 : Valuations are based on quoted prices for similar financial instruments, other than quoted prices included in Level 1, in markets that are not active or on inputs that are observable either directly or indirectly for the full term of the financial instrument. • Level 3 : Valuations are based on pricing or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. We review our fair value hierarchy categorizations on a quarterly basis at which time the classification of certain financial instruments may change if the input observations have changed. Transfers between levels, if any, are recorded as of the beginning of the reporting period. To determine the fair value of the majority of our investments, we utilize prices obtained from independent, nationally recognized pricing services. When the pricing services cannot provide a determination of fair value for a specific security, we obtain non-binding price quotes from broker-dealers with whom we have had several years' experience and who have demonstrated knowledge of the subject security. In order to determine the proper classification in the fair value hierarchy, we obtain and evaluate the vendors' pricing procedures and inputs used to price the security, which include unadjusted quoted market prices for identical securities, such as a New York Stock Exchange closing price, and quoted prices for identical securities in markets that are not active. For fixed maturity securities, an evaluation of interest rates and yield curves observable at commonly quoted intervals, volatility, prepayment speeds, credit risks and default rates may also be performed. We have determined that these processes and inputs result in fair values and classifications consistent with the applicable accounting guidance on fair value measurements. When possible, we use quoted market prices to determine the fair value of fixed maturities, equity securities, trading securities and short-term investments. When quoted market prices do not exist, we base estimates of fair value on market information obtained from independent pricing services and brokers or on valuation techniques that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. Our valuation techniques are discussed in more detail throughout this section. The mortgage loan portfolio consists entirely of commercial mortgage loans. The fair value of our mortgage loans is determined by modeling performed by our third party fund manager based on the stated principal and coupon payments provided for in the loan agreements. These cash flows are then discounted using an appropriate risk-adjusted discount rate to determine the security's fair value. Our other long-term investments consist primarily of our interests in limited liability partnerships that are recorded on the equity method of accounting. The fair value of the partnerships is obtained from the fund managers, which is based on the fair value of the underlying investments held in the partnerships. In management's opinion, these values represent a reasonable estimate of fair value. We have not adjusted the net asset value provided by the fund managers. For cash and cash equivalents and accrued investment income, carrying value is a reasonable estimate of fair value due to the short-term nature of these financial instruments. The Company formed a rabbi trust in 2014 to fund obligations under the United Fire & Casualty Company Supplemental Executive Retirement and Deferral Plan (the "Executive Retirement Plan"). Within the rabbi trust, corporate-owned life insurance ("COLI") policies are utilized as an investment vehicle and source of funding for the Company's Executive Retirement Plan. The COLI policies invest in mutual funds, which are priced daily by independent sources. As of September 30, 2020, the cash surrender value of the COLI policies was $7,670, which is equal to the fair value measured using Level 2 inputs, based on the underlying assets of the COLI policie s, and is included in other assets in the Consolidated Balance Sheets. A summary of the carrying value and estimated fair value of our financial instruments at September 30, 2020 and December 31, 2019 is as follows: September 30, 2020 December 31, 2019 Fair Value Carrying Value Fair Value Carrying Value Assets Investments Fixed maturities: Available-for-sale securities $ 1,717,047 $ 1,717,039 $ 1,719,607 $ 1,719,607 Trading securities 14,811 14,811 15,256 15,256 Equity securities 198,791 198,791 299,203 299,203 Mortgage loans 48,977 47,733 43,992 42,448 Other long-term investments 62,903 62,903 78,410 78,410 Short-term investments 175 175 175 175 Cash and cash equivalents 99,604 99,604 120,722 120,722 Corporate-owned life insurance 7,670 7,670 6,777 6,777 The following tables present the categorization for our financial instruments measured at fair value on a recurring basis. The table includes financial instruments at September 30, 2020 and December 31, 2019: September 30, 2020 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 54,599 $ — $ 54,599 $ — U.S. government agency 64,960 — 64,960 — States, municipalities and political subdivisions General obligations Midwest 83,978 — 83,978 — Northeast 30,550 — 30,550 — South 110,585 — 110,585 — West 109,947 — 109,947 — Special revenue Midwest 134,841 — 134,841 — Northeast 62,844 — 62,844 — South 238,350 — 238,350 — West 143,102 — 143,102 — Foreign bonds 28,018 — 28,018 — Public utilities 84,302 — 84,302 — Corporate bonds Energy 27,501 — 27,501 — Industrials 43,057 — 43,057 — Consumer goods and services 49,028 — 49,028 — Health care 7,569 — 7,569 — Technology, media and telecommunications 41,571 — 41,571 — Financial services 102,459 — 102,209 250 Mortgage-backed securities 14,529 — 14,529 — Collateralized mortgage obligations Government national mortgage association 77,197 — 77,197 — Federal home loan mortgage corporation 121,676 — 121,676 — Federal national mortgage association 85,449 — 85,449 — Asset-backed securities 935 — — 935 Total Available-for-Sale Fixed Maturities $ 1,717,047 $ — $ 1,715,862 $ 1,185 TRADING Fixed maturities: Bonds Corporate bonds Industrials $ 2,004 $ — $ 2,004 $ — Consumer goods and services 1,171 — 1,171 — Health care 4,965 — 4,965 — Financial services 1,622 — 1,622 — Redeemable preferred stocks 5,049 5,049 — — Total Trading Securities $ 14,811 $ 5,049 $ 9,762 $ — EQUITY SECURITIES Common stocks Public utilities $ 16,344 $ 16,344 $ — $ — Energy 8,833 8,833 — — Industrials 30,935 30,935 — — Consumer goods and services 31,432 31,432 — — Health care 24,646 24,646 — — Technology, media and telecommunications 16,003 16,003 — — Financial services 63,957 63,957 — — Nonredeemable preferred stocks 6,641 6,046 — 595 Total Equity Securities $ 198,791 $ 198,196 $ — $ 595 Short-Term Investments $ 175 $ 175 $ — $ — Money Market Accounts $ 54,590 $ 54,590 $ — $ — Corporate-Owned Life Insurance $ 7,670 $ — $ 7,670 $ — Total Assets Measured at Fair Value $ 1,993,084 $ 258,010 $ 1,733,294 $ 1,780 December 31, 2019 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 69,491 $ — $ 69,491 $ — U.S. government agency 100,202 — 100,202 — States, municipalities and political subdivisions General obligations Midwest 88,594 — 88,594 — Northeast 31,270 — 31,270 — South 115,203 — 115,203 — West 110,317 — 110,317 — Special revenue Midwest 139,892 — 139,892 — Northeast 61,543 — 61,543 — South 234,666 — 234,666 — West 144,844 — 144,844 — Foreign bonds 5,117 — 5,117 — Public utilities 63,651 — 63,651 — Corporate bonds Energy 30,124 — 30,124 — Industrials 54,015 — 54,015 — Consumer goods and services 49,466 — 49,466 — Health care 9,480 — 9,480 — Technology, media and telecommunications 27,670 — 27,670 — Financial services 100,253 — 100,003 250 Mortgage-backed securities 6,356 — 6,356 — Collateralized mortgage obligations Government national mortgage association 80,356 — 80,356 — Federal home loan mortgage corporation 124,502 — 124,502 — Federal national mortgage association 71,845 — 71,845 — Asset-backed securities 750 — — 750 Total Available-for-Sale Fixed Maturities $ 1,719,607 $ — $ 1,718,607 $ 1,000 TRADING Fixed maturities: Bonds Corporate bonds Consumer goods and services $ 2,276 $ — $ 2,276 $ — Health care 4,701 — 4,701 — Technology, media and telecommunications 1,732 — 1,732 — Financial services 2,460 — 2,460 — Redeemable preferred stocks 4,087 4,087 — — Total Trading Securities $ 15,256 $ 4,087 $ 11,169 — EQUITY SECURITIES Common stocks Public utilities $ 16,295 $ 16,295 $ — $ — Energy 14,639 14,639 — — Industrials 57,330 57,330 — — Consumer goods and services 29,935 29,935 — — Health care 27,285 27,285 — — Technology, media and telecommunications 19,265 19,265 — — Financial services 127,780 127,780 — — Nonredeemable preferred stocks 6,674 6,079 — 595 Total Equity Securities $ 299,203 $ 298,608 $ — $ 595 Short-Term Investments $ 175 $ 175 $ — $ — Money Market Accounts $ 9,334 $ 9,334 $ — $ — Corporate-Owned Life Insurance $ 6,777 $ — $ 6,777 $ — Total Assets Measured at Fair Value $ 2,050,352 $ 312,204 $ 1,736,553 $ 1,595 The fair value of securities that are categorized as Level 1 is based on quoted market prices that are readily and regularly available. We use a market-based approach for valuing all of our Level 2 securities and submit them primarily to a third-party valuation service provider. Any of these securities not valued by this service provider are submitted to another third-party valuation service provider. Both service providers use a market approach to find pricing of similar financial instruments. The market inputs our service providers normally seek to value our securities include the following, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The method and inputs for these securities classified as Level 2 are the same regardless of industry category, credit quality, duration, geographical concentration or economic characteristics. For our mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, our service providers use additional market inputs to value these securities, including the following: new issue data, periodic payment information, monthly payment information, collateral performance and real estate analysis from third parties. Our service providers prioritize inputs based on market conditions, and not all inputs listed are available for use in the valuation process for each security on any given day. At least annually, we review the methodologies and assumptions used by our valuation service providers and verify that they are reasonable and representative of the fair value of the underlying securities held in the investment portfolio. We validate the prices obtained from independent pricing services and brokers prior to their use for reporting purposes by evaluating their reasonableness on a monthly basis. In addition, on a quarterly basis, we also test all securities in the portfolio and independently corroborate the valuations obtained from our third-party valuation service providers. Quarterly, we also perform deep dive analysis of the pricing method used by our third-party valuation service provider by selecting a random sample of securities by asset class and reviewing methodologies. In our opinion, the pricing obtained at September 30, 2020 and December 31, 2019 was reasonable. For the three- and nine-month periods ended September 30, 2020, the change in our available-for-sale securities categorized as Level 1 and Level 2 is the result of investment purchases that were made using funds held in our money market accounts, disposals and the change in unrealized gains on both fixed maturities and equity securities. Securities categorized as Level 3 include holdings in certain private placement fixed maturity and equity securities for which an active market does not currently exist. The fair value of our Level 3 private placement securities is determined by management relying on pricing received from our independent pricing services and brokers consistent with the process to estimate fair value for Level 2 securities. However, securities are categorized as Level 3 if these quotes cannot be corroborated by other market observable data due to the unobservable nature of the brokers’ valuation processes. The following table provides a quantitative information about our Level 3 securities at September 30, 2020: Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Technique(s) Unobservable inputs Range of weighted average significant unobservable inputs September 30, 2020 Corporate bonds - financial services $ 250 Fair value equals cost NA NA Fixed Maturities asset-backed securities 935 Discounted cash flow Probability of default 4% - 6% Nonredeemable preferred stocks 595 Discounted cash flow Multiplier 3x - 4x During the three- and nine-month periods ended September 30, 2020, there were no securities transferred in or out of Level 3. The following table provides a summary of the changes in fair value of our Level 3 securities for the three-month period ended September 30, 2020: Corporate bonds Asset-backed securities Equities Total Balance at June 30, 2020 $ 250 $ 927 $ 595 $ 1,772 Net unrealized gains (1) — 8 — 8 Balance at September 30, 2020 $ 250 $ 935 $ 595 $ 1,780 (1) Net unrealized gains are recorded as a component of comprehensive income. The following table provides a summary of the changes in fair value of our Level 3 securities for the nine-month period ended September 30, 2020: Corporate bonds Asset-backed securities Equities Total Balance at January 1, 2020 $ 250 $ 750 $ 595 $ 1,595 Net unrealized gains (1) — 185 — 185 Balance at September 30, 2020 $ 250 $ 935 $ 595 $ 1,780 (1) Net unrealized gains are recorded as a component of comprehensive income. Commercial Mortgage Loans The following tables present the carrying value of our commercial mortgage loans and additional information at September 30, 2020 and December 31, 2019: Commercial Mortgage Loans September 30, 2020 December 31, 2019 Loan-to-value Carrying Value Carrying Value Less than 65% $ 30,467 $ 34,024 65%-75% 17,342 8,496 Total amortized cost $ 47,809 $ 42,520 Allowance for mortgage loan losses (76) (72) Mortgage loans, net $ 47,733 $ 42,448 Mortgage Loans by Region September 30, 2020 December 31, 2019 Carrying Value Percent of Total Carrying Value Percent of Total East North Central $ 3,245 6.8 % $ 3,245 7.6 % Southern Atlantic 9,794 20.5 7,026 16.5 East South Central 8,238 17.2 8,358 19.7 New England 6,588 13.8 6,588 15.5 Middle Atlantic 14,971 31.3 15,076 35.5 Mountain 2,227 4.6 2,227 5.2 West North Central 2,746 5.8 — — Total mortgage loans at amortized cost $ 47,809 100.0 % $ 42,520 100.0 % Mortgage Loans by Property Type September 30, 2020 December 31, 2019 Carrying Value Percent of Total Carrying Value Percent of Total Commercial Multifamily $ 17,051 35.6 % $ 11,741 27.6 % Office 11,932 25.0 11,848 27.9 Industrial 10,124 21.2 10,124 23.8 Retail 2,227 4.7 2,227 5.2 Mixed use/Other 6,475 13.5 6,580 15.5 Total mortgage loans at amortized cost $ 47,809 100.0 % $ 42,520 100.0 % Amortized Cost Basis by Year of Origination and Credit Quality Indicator 2020 2019 2018 Total Commercial mortgage loans: Risk Rating: 1-2 internal grade $ 5,551 $ 8,404 $ 18,770 $ 32,725 3-4 internal grade — 8,496 6,588 15,084 5 internal grade — — — — 6 internal grade — — — — 7 internal grade — — — — Total commercial mortgage loans $ 5,551 $ 16,900 $ 25,358 $ 47,809 Current-period write-offs — — — — Current-period recoveries — — — — Current-period net write-offs $ — $ — $ — $ — Commercial mortgage loans carrying value excludes accrued interest of $167. As of September 30, 2020, all loan receivables were current, with no delinquencies. The commercial mortgage loans originate with an initial loan-to-value ratio to provide sufficient collateral to absorb losses should a loan be required to foreclose. Mortgage loans are evaluated on a quarterly basis for impairment on an individual basis through a monitoring process and review of key credit indicators, such as economic trends, delinquency rates, property valuations, occupancy and rental rates and loan-to-value ratios. A loan is considered impaired when the Company believes it will not collect the contractual principal and interest set forth in the contractual terms of the loan. An internal grade is assigned to each mortgage loan, with a grade of 1 being the highest and least likely for an impairment and the lowest rating of 7 being the most likely for an impairment. An allowance for mortgage loan losses is established on each loan recognizing a loss for amounts which we believe will not be collected according to the contractual terms of the respective loan agreement. As of September 30, 2020, the Company had an allowance for mortgage loan losses of $76, summarized in the following rollforward: Rollforward of allowance for mortgage loan losses: As of September 30, 2020 Beginning balance, January 1, 2020 $ 72 Current-period provision for expected credit losses 4 Write-off charged against the allowance, if any — Recoveries of amounts previously written off, if any — Ending balance of the allowance for mortgage loan losses, September 30, 2020 $ 76

Reserves for Losses and Loss Se

Reserves for Losses and Loss Settlement Expenses	9 Months Ended
	Sep. 30, 2020
Insurance Loss Reserves [Abstract]
Reserves for Losses and Loss Settlement Expenses	RESERVES FOR LOSSES AND LOSS SETTLEMENT EXPENSES Property insurance indemnifies an insured with an interest in physical property for loss of, or damage to, such property or the loss of its income-producing abilities. Casualty insurance primarily covers liability for damage to property of, or injury to, a person or entity other than the insured. In most cases, casualty insurance also obligates the insurance company to provide a defense for the insured in litigation, arising out of events covered by the policy. Liabilities for losses and loss settlement expenses reflect management's best estimates at a given point in time of what we expect to pay for claims that have been reported and those that have been incurred but not reported ("IBNR"), based on known facts, circumstances, and historical trends. Because property and casualty insurance reserves are estimates of the unpaid portions of incurred losses that have been reported to us, as well as losses that have been incurred but not reported, the establishment of appropriate reserves, including reserves for catastrophes, is an inherently uncertain and complex process. The ultimate cost of losses and related loss settlement expenses may vary materially from recorded amounts. We regularly update our reserve estimates as new information becomes available and as events unfold that may affect the resolution of unsettled claims. Changes in prior year reserve estimates, which may be material, are reported as a component of losses and loss settlement expenses incurred in the period such changes are determined. The determination of reserves (particularly those relating to liability lines of insurance that have relatively longer lag in claim reporting) requires significant work to reasonably project expected future claim reporting and payment patterns. If, during the course of our regular monitoring of reserves, we determine that coverages previously written are incurring higher than expected losses, we will take action that may include, among other things, increasing the related reserves. Any adjustments we make to reserves are reflected in operating results in the year in which we make those adjustments. We engage an independent actuary, Regnier Consulting Group, Inc., to render an opinion as to the reasonableness of our statutory reserves annually. The actuarial opinion is filed in those states where we are licensed. On a quarterly basis, UFG's internal actuary performs a detailed actuarial review of IBNR reserves. This review includes a comparison of results from the most recent analysis of reserves completed by both our internal and external actuaries. Senior management meets with our internal actuary to review, on a regular and quarterly basis, the adequacy of carried reserves based on results from this actuarial analysis. There are two fundamental types or sources of IBNR reserves. We record IBNR reserves for "normal" types of claims and also specific IBNR reserves related to unique circumstances or events. A major hurricane is an example of an event that might necessitate establishing specific IBNR reserves because an analysis of existing historical data would not provide an appropriate estimate. We do not discount loss reserves based on the time value of money. The following table provides an analysis of changes in our property and casualty losses and loss settlement expense reserves at September 30, 2020 and December 31, 2019 (net of reinsurance amounts): September 30, 2020 December 31, 2019 Gross liability for losses and loss settlement expenses $ 1,421,754 $ 1,312,483 Ceded losses and loss settlement expenses (68,536) (57,094) Net liability for losses and loss settlement expenses $ 1,353,218 $ 1,255,389 Losses and loss settlement expenses incurred Current year $ 656,207 $ 835,507 Prior years (30,038) (5,335) Total incurred $ 626,169 $ 830,172 Losses and loss settlement expense payments Current year $ 263,898 $ 333,975 Prior years 330,190 398,368 Total paid $ 594,088 $ 732,343 Net liability for losses and loss settlement expenses $ 1,385,299 $ 1,353,218 Ceded loss and loss settlement expenses 169,784 68,536 Gross liability for losses and loss settlement expenses $ 1,555,083 $ 1,421,754 There are a multitude of factors that can impact loss reserve development. Those factors include, but are not limited to: historical data, the potential impact of various loss reserve development factors and trends including historical loss experience, legislative enactments, judicial decisions, legal developments in imposition of damages, experience with alternative dispute resolution, results of our medical bill review process, the potential impact of salvage and subrogation and changes and trends in general economic conditions, including the effects of inflation. All of these factors influence our estimates of required reserves and for long tail lines these factors can change over the course of the settlement of the claim. However, there is no precise method for evaluating the specific monetary impact of any individual factor on the development of reserves. Generally, we base reserves for each claim on the estimated ultimate exposure for that claim. We believe that it is appropriate and reasonable to establish a best estimate for reserves within a range of reasonable estimates, especially when we are reserving for claims for bodily injury, disabilities and similar claims, for which settlements and verdicts can vary widely. Our reserving philosophy may result in favorable reserve development in future years that will decrease losses and loss settlement expenses for prior year claims in the year of adjustment. We realize that this philosophy, coupled with what we believe to be aggressive and successful claims management and loss settlement practices, has resulted in year-to-year redundancies in reserves. We believe our approach produces recorded reserves that are reasonably consistent as to their relative position within a range of reasonable reserves from year-to-year. However, conditions and trends that have affected the reserve development for a given year do change. Therefore, such development cannot be used to project future reserve redundancies or deficiencies. We are not aware of any significant contingent liabilities related to environmental issues. Because of the type of property coverage we write, we have potential exposure to environmental pollution, mold and asbestos claims. Our underwriters are aware of these exposures and use riders or endorsements to limit exposure. Reserve Development For the three-month period ended September 30, 2020, the majority of favorable development came from workers' compensation and commercial liability lines of business. This favorable development was partially offset by unfavorable development of commercial auto and reinsurance assumed lines. All other lines combined contributed a relatively modest amount of overall favorable development during this three-month period. For the nine-month period ended September 30, 2020 the majority of favorable development came from workers' compensation and commercial fire and allied lines of business. This favorable development was partially offset by unfavorable development of the assumed reinsurance and commercial auto lines of business. All other lines combined contributed a relatively modest amount of overall favorable development during this nine-month period. For the three-month period ended September 30, 2019, the majority of favorable development came from workers' compensation with a partial offset coming primarily from unfavorable development for commercial liability. The favorable development for workers' compensation was primarily from reductions in reserves for reported claims which were more than sufficient to offset paid loss. The unfavorable development for commercial liability is due to paid losses and an increase in loss adjustment expenses. All other lines combined contributed additional overall favorable development during this three-month period. For the nine-month period ended September 30, 2019 the majority of favorable development came from workers' compensation, which was more than offset by unfavorable development for commercial liability. The favorable development for workers' compensation was primarily from reductions in reserves for reported claims, which were more than sufficient to offset paid loss. Also, loss adjustment expense contributed favorable development with reductions in reserves more than sufficient to offset payments. The unfavorable development for commercial liability is due to paid losses and an increase in loss adjustment expenses. All other lines combined contributed additional overall favorable development during this nine-month period.

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Employee Benefits	EMPLOYEE BENEFITS Net Periodic Benefit Cost The components of the net periodic benefit cost for our pension and postretirement benefit plans are as follows: Pension Plan Postretirement Benefit Plan Three Months Ended September 30, 2020 2019 2020 2019 Net periodic benefit cost Service cost $ 2,707 $ 1,997 $ 432 $ 456 Interest cost 2,066 2,080 253 319 Expected return on plan assets (3,385) (2,696) — — Amortization of prior service credit — — (2,021) (2,221) Amortization of net loss 979 901 94 224 Net periodic benefit cost $ 2,367 $ 2,282 $ (1,242) $ (1,222) Pension Plan Postretirement Benefit Plan Nine Months Ended September 30, 2020 2019 2020 2019 Net periodic benefit cost Service cost $ 8,122 $ 5,991 $ 1,296 $ 1,368 Interest cost 6,199 6,240 760 956 Expected return on plan assets (10,154) (8,088) — — Amortization of prior service credit — — (6,063) (6,463) Amortization of net loss 2,936 2,703 282 671 Net periodic benefit cost $ 7,103 $ 6,846 $ (3,725) $ (3,468) A portion of the service cost component of net periodic pension and postretirement benefit costs is capitalized and amortized as part of deferred acquisition costs and is included in the line "Amortization of deferred policy acquisition costs" in the Consolidated Statements of Income and Comprehensive Income. The portion not related to the compensation and the other components of net periodic pension and postretirement benefit costs is included in the income statement line titled "other underwriting expenses." Employer Contributions

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION Non-Qualified Employee Stock Award Plan The United Fire Group, Inc. 2008 Stock Plan (the "2008 Stock Plan") authorized the issuance of restricted and unrestricted stock awards, restricted stock units, stock appreciation rights, incentive stock options, and non-qualified stock options for up to 1,900,000 shares of UFG common stock to employees. In May 2014, the Registrant's shareholders approved an additional 1,500,000 shares of UFG common stock issuable at any time and from time to time pursuant to the 2008 Stock Plan, among other amendments, and renamed such plan as the United Fire Group, Inc. Stock Plan (as amended, the "Stock Plan"). At September 30, 2020, there were 704,760 authorized shares remaining available for future issuance. The Stock Plan is administered by the Board of Directors, which determines those employees who will receive awards, when awards will be granted, and the terms and conditions of the awards. The Board of Directors may also take any action it deems necessary and appropriate for the administration of the Stock Plan. Pursuant to the Stock Plan, the Board of Directors may, at its sole discretion, grant awards to our employees. Options granted pursuant to the Stock Plan are granted to buy shares of UFG's common stock at the market value of the stock on the date of grant. Options granted prior to March 2017 vest and are exercisable in installments of 20.0 percent of the number of shares covered by the option award each year from the grant date, unless the Board of Directors authorizes the acceleration of vesting. Options granted after March 2017 vest and are exercisable in installments of 33.3 percent of the number of shares covered by the option award each year from the grant date, unless the Board of Directors authorizes the acceleration of vesting. To the extent not exercised, vested option awards accumulate and are exercisable by the awardee, in whole or in part, in any subsequent year included in the option period, but not later than 10 years from the grant date. Restricted and unrestricted stock awards granted pursuant to the Stock Plan are granted at the market value of UFG's common stock on the date of the grant. Restricted stock units fully vest after 3 years or 5 years from the date of grant, unless accelerated upon the approval of the Board of Directors, at which time UFG common stock will be issued to the awardee. The activity in the Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2020 From Inception to September 30, 2020 Beginning balance 834,910 1,900,000 Additional shares authorized — 1,500,000 Number of awards granted (165,024) (3,281,445) Number of awards forfeited or expired 34,874 586,205 Ending balance 704,760 704,760 Number of option awards exercised 7,200 1,450,389 Number of unrestricted stock awards granted — 10,090 Number of restricted stock awards vested 63,600 164,378 Non-Qualified Non-Employee Director Stock Plan The United Fire Group, Inc. Non-Employee Director Stock Plan (formerly known as the 2005 Non-Qualified Non- Employee Director Stock Option and Restricted Stock Plan) (the "Director Stock Plan") authorizes the issuance of restricted stock awards and non-qualified stock options to purchase shares of UFG's common stock to non-employee directors. On May 20, 2020, the Company’s shareholders approved amendments to the Director Stock Plan, previously approved by the Company’s Board of Directors, to (i) increase the number of shares available for future awards under the Director Stock Plan from 300,000 to 450,000, (ii) extend the expiration date of the Director Stock Plan from December 31, 2020 to December 31, 2029, (iii) allow for the grant of awards of restricted stock units, and (iv) rename the Director Stock Plan as the "United Fire Group, Inc. Non-Employee Director Stock Plan." At September 30, 2020, the Company had 160,135 authorized shares available for future issuance. The Board of Directors has the authority to determine which non-employee directors receive awards, when restricted stock, restricted stock units and options shall be granted, the option price, the option expiration date, the date of grant, the vesting schedule of options or whether the options shall be immediately vested, the terms and conditions of options, restricted stock and restricted stock units (other than those terms and conditions set forth in the plan) and the number of shares of common stock to be issued pursuant to an option, restricted stock or restricted stock unit agreements (subject to limits set forth in the Director Stock Plan). The Board of Directors may also take any action it deems necessary and appropriate for the administration of the Director Stock Plan. The activity in the Director Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2020 From Inception to September 30, 2020 Beginning balance 34,863 300,000 Additional authorization 150,000 150,000 Number of awards granted (24,728) (313,868) Number of awards forfeited or expired — 24,003 Ending balance 160,135 160,135 Number of option awards exercised 14,183 133,275 Number of restricted stock awards vested 14,300 98,491 Stock-Based Compensation Expense For the three-month periods ended September 30, 2020 and 2019, we recognized stock-based compensation expense of $1,052 and $1,203, respectively. For the nine-month periods ended September 30, 2020 and 2019, we recognized stock-based compensation expense of $3,979 and $5,248, respectively. Stock-based compensation expense is recognized over the vesting period of the stock options. As of September 30, 2020, we had $5,004 in stock-based compensation expense that has yet to be recognized through our results of operations. We expect this compensation to be recognized over the remainder of 2020 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated. 2020 $ 1,060 2021 2,584 2022 1,056 2023 211 2024 82 2025 11 Total $ 5,004

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	EARNINGS PER COMMON SHARE Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share gives effect to all dilutive common shares outstanding during the reporting period. The dilutive shares we consider in our diluted earnings per share calculation relate to our outstanding stock options, restricted stock awards and restricted stock unit awards. We determine the dilutive effect of our outstanding stock options using the "treasury stock" method. Under this method, we assume the exercise of all of the outstanding stock options whose exercise price is less than the weighted-average market value of our common stock during the reporting period. This method also assumes that the proceeds from the hypothetical stock option exercises are used to repurchase shares of our common stock at the weighted-average market value of the stock during the reporting period. The net of the assumed stock options exercised and assumed common shares repurchased represents the number of dilutive common shares, which we add to the denominator of the earnings per share calculation. The components of basic and diluted earnings per share were as follows for the three-month periods ended September 30, 2020 and 2019: Three Months Ended September 30, (In Thousands, Except Share Data) 2020 2019 Basic Diluted Basic Diluted Net income (loss) $ (37,241) $ (37,241) $ (2,342) $ (2,342) Weighted-average common shares outstanding 25,031,234 25,031,234 25,176,334 25,176,334 Add dilutive effect of restricted stock unit awards — — — — Add dilutive effect of stock options — — — — Weighted-average common shares outstanding 25,031,234 25,031,234 25,176,334 25,176,334 Earnings (loss) per common share $ (1.49) $ (1.49) $ (0.09) $ (0.09) Awards excluded from diluted earnings per share calculation (1) — 820,124 — 63,897 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive. The components of basic and diluted earnings per share were as follows for the nine-month periods ended September 30, 2020 and 2019: Nine Months Ended September 30, (In Thousands, Except Share Data) 2020 2019 Basic Diluted Basic Diluted Net income (loss) $ (103,815) $ (103,815) $ 37,983 $ 37,983 Weighted-average common shares outstanding 25,023,401 25,023,401 25,172,716 25,172,716 Add dilutive effect of restricted stock unit awards — — — 249,605 Add dilutive effect of stock options — — — 221,423 Weighted-average common shares outstanding 25,023,401 25,023,401 25,172,716 25,643,744 Earnings (loss) per common share $ (4.15) $ (4.15) $ 1.51 $ 1.48 Awards excluded from diluted earnings per share calculation (1) — 515,984 — 63,897 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Credit Facility	CREDIT FACILITY On March 31, 2020, United Fire & Casualty Company (the "Borrower"), a wholly owned subsidiary of the Company, entered into a credit agreement (the "New Credit Agreement") with Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent (the "Administrative Agent"), issuing lender, swing-line lender and lender, and the other lenders from time to time party thereto (collectively with Wells Fargo, the "Lenders"), providing for a $50,000 revolving credit facility, which includes a $20,000 letter of credit sub-facility and a $5,000 swing-line loan for working capital and other general corporate purposes. The New Credit Agreement is provided by the Lenders on an unsecured basis, and the Borrower has the option to increase the New Credit Agreement by $100,000 if agreed to by the Lenders providing such incremental facility. The New Credit Agreement includes customary events of default, including default in payments of principals, default in payment of other indebtedness, change of control and voluntary and involuntary insolvency proceedings, the occurrence of which would allow the Lenders to accelerate payment of all amounts outstanding thereunder and terminate any further commitments to lend. The entry into the New Credit Agreement was completed as part of the Company’s regular course of financial planning and was not initiated as a result of market conditions resulting from the COVID-19 pandemic. Prior to February 2, 2020, the Company had a credit agreement (the "Previous Credit Agreement") which it entered into on February 2, 2016. The Company, as borrower, entered into the Previous Credit Agreement with the lenders from time to time party thereto and KeyBank National Association ("Key Bank"), as administrative agent, swingline lender and letter of credit issuer. The Previous Credit Agreement provided for a $50,000 four-year unsecured revolving credit facility that included a $20,000 letter of credit subfacility and a swingline subfacility in the amount up to $5,000. The Previous Credit Agreement allowed the Company to increase the aggregate amount of the commitments thereunder by up to $100,000, provided that no event of default had occurred and was continuing and certain other conditions were satisfied. The Previous Credit Agreement was available for the Company's general corporate purposes, including liquidity, acquisitions and working capital. All unpaid principal and accrued interest under the Previous Credit Agreement was due and payable in full at maturity on February 2, 2020. Based on the type of loan, advances under the Previous Credit Agreement bore interest on either the London Interbank Offered Rate ("LIBOR") or a base rate plus, in each case, a calculated margin amount. There was no outstanding balance on either the New Credit Agreement or the Previous Credit Agreement at September 30, 2020 and 2019, respectively. For the nine-month periods ended September 30, 2020 and 2019, we did not incur any interest expense related to either credit facility. We were in compliance with all covenants of the New Credit Agreement at September 30, 2020.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the three-month period ended September 30, 2020: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of June 30, 2020 79,283 (32,433) $ 46,850 Change in accumulated other comprehensive income before reclassifications 3,252 — 3,252 Reclassification adjustments from accumulated other comprehensive income (loss) (43) 848 805 Balance as of September 30, 2020 $ 82,492 $ (31,585) $ 50,907 (1) The preparation of financial statements in conformity with GAAP requires us to make various estimates and assumptions that affect the reporting of net periodic benefit cost, plan assets and plan obligations for each plan at the date of the financial statements. Actual results could differ from these estimates. One significant estimate relates to the calculation of the benefit obligation for each plan. We annually establish the discount rate, which is an estimate of the interest rate at which these benefits could be effectively settled, that is used to determine the present value of the respective plan's benefit obligations as of December 31. The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the nine-month period ended September 30, 2020: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of January 1, 2020 47,279 (34,127) $ 13,152 Change in accumulated other comprehensive income before reclassifications 35,223 — 35,223 Reclassification adjustments from accumulated other comprehensive income (loss) (10) 2,542 2,532 Balance as of September 30, 2020 $ 82,492 $ (31,585) $ 50,907

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	LEASES The Company has operating leases consisting of office space, vehicle leases, computer equipment, and office equipment. Lease terms and options vary in the Company's operating leases dependent upon the underlying leased asset. We exclude options to extend or terminate a lease from our recognition as part of our right-of-use assets and lease liabilities until those options are known and/or executed, as we typically do not exercise options to purchase the underlying leased asset. As of September 30, 2020, we have leases with remaining terms of 1 year to 7 years, some of which may include no options for renewal and others with options to extend the lease terms from 6 months to 5 years. The components of our operating leases were as follows for the three- and nine-month periods ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Components of lease expense: Operating lease expense $ 1,832 $ 1,910 $ 5,788 $ 5,730 Less sublease income 53 119 239 371 Net lease expense 1,779 1,791 5,549 5,359 Cash flows information related to leases: Operating cash outflow from operating leases 1,796 1,812 5,265 5,420

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial reporting and with the instructions to Form 10-Q and Regulation S-X promulgated by the SEC. Certain financial information that is included in our Annual Report on Form 10-K for the year ended December 31, 2019, including certain financial statement footnote disclosures, is not required by the rules and regulations of the SEC for interim financial reporting and has been condensed or omitted.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statement categories that are most dependent on management estimates and assumptions include: investments; deferred policy acquisition costs; reinsurance receivables and recoverables; loss settlement expenses; and pension and post-retirement benefit obligations.
Reclassification	Certain prior year amounts have been reclassified to conform to the current year presentation.
Segment Information	On September 19, 2017, the Company announced that it had agreed to sell its subsidiary, United Life Insurance Company ("United Life"), to Kuvare US Holdings, Inc. ("Kuvare"). The sale closed on March 30, 2018. Prior to the announcement to sell United Life, we had two reportable business segments in our operations: property and casualty insurance and life insurance. The property and casualty insurance business has six domestic locations from which it conducts its direct business. The life insurance segment operated from our home office in Cedar Rapids, Iowa. Because all of our insurance is sold domestically, we have no revenues from foreign operations. After the announcement of the United Life transaction, our continuing operations, the property and casualty insurance business, was reported as one reportable segment. The property and casualty insurance business profit or loss is consistent with consolidated reporting as disclosed on the Consolidated Statements of Income and Comprehensive Income. We analyze the property and casualty insurance business results based on profitability (i.e., loss ratios), expenses and return on equity. The Company's property and casualty insurance business was determined using a management approach to make decisions on operating matters, including allocating resources, assessing performance, determining which products to market and sell, determining distribution networks with insurance
Discontinued Operations	On September 18, 2017, the Company signed a definitive agreement to sell its subsidiary, United Life, to Kuvare for $280,000 in cash, less a $21 adjustment as set forth in the definitive agreement, for a net amount of $279,979. The sale closed on March 30, 2018 (the "closing date") and we reported an after-tax gain on the sale of discontinued operations of $27,307. The life insurance business (previously reported as a separate segment) was considered held for sale and reported as discontinued operations and its financial position, results of operations and cash flows were reported separately for all periods presented, as applicable, unless otherwise noted.
Cash and Cash Equivalents	For purposes of reporting cash flows, cash and cash equivalents include cash, money market accounts, and non-negotiable certificates of deposit with original maturities of three months or less.
Deferred Policy Acquisition Costs (DAC)	Certain costs associated with underwriting new business (primarily commissions, premium taxes and variable underwriting and policy issue expenses associated with successful acquisition efforts) are deferred. The following table is a summary of the components of DAC, including the related amortization recognized for the nine-month period ended September 30, 2020. Total Recorded asset at beginning of period $ 94,292 Underwriting costs deferred 158,371 Amortization of deferred policy acquisition costs (158,440) Recorded asset at September 30, 2020 $ 94,223 Property and casualty insurance policy acquisition costs deferred are amortized as premium revenue is recognized. The method followed in computing DAC limits the amount of such deferred costs to their estimated realizable value. This takes into account the premium to be earned, losses and loss settlement expenses expected to be incurred and certain other costs expected to be incurred as the premium is earned.
Income Taxes	On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating loss ("NOL") carryovers and carrybacks to offset 100 percent of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The Company has considered the implications of the CARES Act on its tax provision and has included an income tax benefit of $17.8 million as the result of this Act. Deferred tax assets and liabilities are established based on differences between the financial statement bases of assets and liabilities and the tax bases of those same assets and liabilities, using the currently enacted statutory tax rates. Deferred income tax expense is measured by the year-to-year change in the net deferred tax asset or liability, except for certain changes in deferred tax amounts that affect stockholders' equity and do not impact federal income tax expense. We reported consolidated federal income tax benefit of $52,176 for the nine-month period ended September 30, 2020 compared to income tax expense of $7,595 during the same period of 2019. Our effective tax rate is different than the federal statutory rate of 21 percent, due principally to the impact of the provisions of the CARES Act. The Company performs a quarterly review of its tax positions and makes a determination of whether it is more likely than not that the tax position will be sustained upon examination. If, based on review, it appears not more likely than not that the positions will be sustained, the Company will calculate any unrecognized tax benefits and, if necessary, calculate and accrue any related interest and penalties. We did not recognize any liability for unrecognized tax benefits at September 30, 2020 or December 31, 2019. In addition, we have not accrued for interest and penalties related to unrecognized tax benefits. However, if interest and penalties would need to be accrued related to unrecognized tax benefits, such amounts would be recognized as a component of federal income tax expense. We file a consolidated federal income tax return. We also file income tax returns in various state jurisdictions. We are no longer subject to federal or state income tax examination for years before 2015. The Internal Revenue Service is conducting an examination of our federal income tax return for the 2017 tax year.
Leases	The Company determines if a contract contains a lease at inception of the contract. The Company's inventory of leases consists of operating leases which are recorded as a lease obligation liability disclosed in the "Accrued expenses and other liabilities" line on the Consolidated Balance Sheets and as a lease right-of-use asset disclosed in the "Other assets" line on the Consolidated Balance Sheets. The Company's operating leases consist of office space, vehicles, computer equipment and office equipment. The lease right-of-use asset represents the Company's right to use each underlying asset for the lease term and the lease obligation liability represents the Company's obligation over the lease term. The Company's lease obligation is recorded at the present value of the lease payments based on the term of the applied lease. Short-term leases of 12 months or less are recorded on the Consolidated Balance Sheets and lease payments are recognized on the Consolidated Statements of Income and Comprehensive Income.
Variable Interest Entities	The Company and certain related parties are equity investors in one investment in which the Company determined is a variable interest entity ("VIE") as a result of participation in the risks and rewards of the VIE based on the objectives and strategies of the VIE. The VIE is a limited liability company that primarily invests in commercial real estate. The Company and certain related parties are not the primary beneficiary largely due to their inability to influence management or direct the activities that most significantly impact the VIE's economic performance. Based on these facts and circumstances, the Company has a variable interest in the VIE, but has not consolidated the VIE's financial results as it is not the primary beneficiary. The Company's investment is reported in other long-term investments in the Consolidated Balance Sheets and accounted for under the equity method of accounting.
Credit Losses	The Company recognizes credit losses for our available-for-sale fixed-maturity portfolio, reinsurance receivables, mortgage loans and premium receivables by setting up allowances which are remeasured each reporting period and recorded in the Consolidated Statements of Income and Comprehensive Income. For our available-for-sale fixed-maturity portfolio an allowance for credit losses is recorded net of available-for-sale fixed maturities in the Consolidated Balance Sheets and a corresponding credit loss recognized as a realized loss or gain in the Consolidated Statements of Income and Comprehensive Income. The Company determines if an allowance for credit losses is recorded based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as market value vs. amortized cost, investment spreads widening or contracting, rating actions, payment and default history. The Company does not recognize an allowance for credit losses for accrued interest receivable for available-for-sale fixed-maturity securities, which is recorded in "Accrued investment income" in the Consolidated Balance Sheets and "Investment income, net of investment expenses" in the Consolidated Statements of Income and Comprehensive Income. The Company considers collections of accrued investment income within six months to be timely and therefore not requiring a write-off. If a write-off is required for accrued investment income outstanding greater than six months, the Company writes off accrued interest by reversing net investment income. For more information on credit losses and the allowance for credit losses for available-for-sale fixed-maturity portfolio, see Note 2 "Summary of Investments." An allowance for mortgage loan losses is established based on historical loss information of the collective pool of the Company's commercial mortgage loan investments which have similar risk characteristics. To calculate the allowance for mortgage loan losses, the Company starts with historical loan experience to predict the future expected losses and then layers on a market-linked adjustment. On a quarterly basis, quantitative credit risk metrics, including for example, cash-flows, rent rolls and financial statements are reviewed for each loan to determine if it is performing in line with its expectations. This allowance is presented as a separate line in the Consolidated Balance Sheets beneath the asset value as well as presented net and recorded through "Net realized investment gains (losses)" in the Consolidated Statements of Income and Comprehensive Income. For more information on credit losses and the allowance for credit losses for our investment in mortgage loans see Note 3 "Fair Value of Financial Instruments." For reinsurance receivables, the Company's model estimates expected credit loss by multiplying the exposure at default by both the probability of default and loss given default ("LGD"). The LGD is estimated by the rating of the Company, historical relationship with UFG, existence of letters of credit and known regulation the Company may be held accountable for. The ultimate LGD percentage is estimated after considering Moody’s experience with unsecured year 1 bond recovery rates from 1983-2017. The allowance calculated as of September 30, 2020 is recorded through the line "Reinsurance receivables and recoverables" in the Consolidated Balance Sheets and through the line "Other underwriting expenses" in the Consolidated Statements of Income and Other Comprehensive Income. As of September 30, 2020, the Company had a credit loss allowance for reinsurance receivables of $241. Rollforward of credit loss allowance for reinsurance receivable: As of September 30, 2020 Beginning balance, January 1, 2020 $ 38 Current-period provision for expected credit losses 203 Write-off charged against the allowance, if any — Recoveries of amounts previously written off, if any — Ending balance of the allowance for reinsurance receivable, September 30, 2020 $ 241 With respect to premiums receivable, the Company utilizes an aging method to estimate credit losses. An allowance for doubtful accounts is based on a periodic evaluation of the aging and collectability of amounts due from agents and policyholders. "Premiums receivable" are presented in the Consolidated Balance Sheets net of an estimated allowance for doubtful accounts and recorded through "Other underwriting expenses" in the Consolidated Statements of Income and Comprehensive Income.
Subsequent Events	In the preparation of the accompanying financial statements, the Company has evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure in the Company's financial statements. COVID-19 Pandemic
Recently Issued Accounting Standards	Accounting Standards Adopted in 2020 Intangibles - Other Internal Use Software In August 2018, the FASB issued guidance to align the requirements for capitalizing implementation costs incurred in a cloud computing hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance requires the Company to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The new guidance was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance as of January 1, 2020. The adoption did not have a significant impact on the Company's financial position or results of operations. Financial Instruments - Credit Losses In June 2016, the FASB issued new guidance on the measurement of credit losses for most financial instruments. The new guidance replaces the incurred loss model for recognizing credit losses with an expected loss model for instruments measured at amortized cost and requires allowances to be recorded for available-for-sale debt securities rather than reduce the carrying amount. These allowances are remeasured each reporting period. The new guidance was effective for annual periods beginning after December 15, 2019 and interim periods within those years. The new guidance impacted the Company's impairment model related to our available-for-sale fixed-maturity portfolio, reinsurance receivables and mortgage loans. The Company has performed a run of the credit loss models as of January 1, 2020. These models resulted in an immaterial expected credit loss at January 1, 2020. Prior to the adoption of the new guidance, the Company utilized an aging method to estimate credit losses on premiums receivable. This aging method is permitted under the new guidance. The Company adopted the new guidance prospectively as of January 1, 2020 with an immaterial estimated cumulative effect adjustment to opening retained earnings. This cumulative effect adjustment is an allowance related to the Company's reinsurance receivables. The adoption of the new guidance did not have a material impact on the Company's financial position and results of operations. Goodwill In January 2017, the FASB issued new guidance which simplifies the test for goodwill impairment. The new guidance eliminates the implied fair value calculation when measuring a goodwill impairment charge. Under the new guidance, impairment charges are based on the excess of the carrying value over fair value of goodwill. The new guidance was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance as of January 1, 2020. The adoption did not have a significant impact on the Company's financial position or results of operations. Financial Instruments - Disclosures In August 2018, the FASB issued new guidance which modifies the disclosure requirements on fair value measurements of financial instruments. The new guidance removes the requirement for disclosing the amount and reason for transfers between Level 1 and Level 2 investment securities and the valuation processes for Level 3 fair value measurements. The guidance also requires additional disclosures on the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The new guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance as of January 1, 2020. The adoption modified existing fair value disclosures, but did not have an impact on the Company's financial position or results of operations. Pending Adoption of Accounting Standards Defined Benefit Plans - Disclosures In August 2018, the FASB issued new guidance which modifies the disclosure requirements for employers that sponsor defined benefit pension and postretirement plans. The new guidance removes the requirement for disclosing the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit costs in the next year and the sensitivity of postretirement health plans to one-percentage-point changes in medical trend rates. The new guidance is effective for annual periods beginning after December 15, 2020. The Company will adopt the new guidance as of January 1, 2021. Management currently believes the new guidance will modify existing disclosures, but will not have an impact on the Company's financial position and results of operations.
Fair Value of Financial Instruments	Current accounting guidance on fair value measurements includes the application of a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Our financial instruments that are recorded at fair value are categorized into a three-level hierarchy, which is based upon the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (i.e., Level 1) and the lowest priority to unobservable inputs (i.e., Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the financial instrument. Financial instruments recorded at fair value are categorized in the fair value hierarchy as follows: • Level 1 : Valuations are based on unadjusted quoted prices in active markets for identical financial instruments that we have the ability to access. • Level 2 : Valuations are based on quoted prices for similar financial instruments, other than quoted prices included in Level 1, in markets that are not active or on inputs that are observable either directly or indirectly for the full term of the financial instrument. • Level 3 : Valuations are based on pricing or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. We review our fair value hierarchy categorizations on a quarterly basis at which time the classification of certain financial instruments may change if the input observations have changed. Transfers between levels, if any, are recorded as of the beginning of the reporting period. To determine the fair value of the majority of our investments, we utilize prices obtained from independent, nationally recognized pricing services. When the pricing services cannot provide a determination of fair value for a specific security, we obtain non-binding price quotes from broker-dealers with whom we have had several years' experience and who have demonstrated knowledge of the subject security. In order to determine the proper classification in the fair value hierarchy, we obtain and evaluate the vendors' pricing procedures and inputs used to price the security, which include unadjusted quoted market prices for identical securities, such as a New York Stock Exchange closing price, and quoted prices for identical securities in markets that are not active. For fixed maturity securities, an evaluation of interest rates and yield curves observable at commonly quoted intervals, volatility, prepayment speeds, credit risks and default rates may also be performed. We have determined that these processes and inputs result in fair values and classifications consistent with the applicable accounting guidance on fair value measurements. When possible, we use quoted market prices to determine the fair value of fixed maturities, equity securities, trading securities and short-term investments. When quoted market prices do not exist, we base estimates of fair value on market information obtained from independent pricing services and brokers or on valuation techniques that are both unobservable and significant to the overall fair value measurement of the financial instrument. Such inputs may reflect management's own assumptions about the assumptions a market participant would use in pricing the financial instrument. Our valuation techniques are discussed in more detail throughout this section. The mortgage loan portfolio consists entirely of commercial mortgage loans. The fair value of our mortgage loans is determined by modeling performed by our third party fund manager based on the stated principal and coupon payments provided for in the loan agreements. These cash flows are then discounted using an appropriate risk-adjusted discount rate to determine the security's fair value. Our other long-term investments consist primarily of our interests in limited liability partnerships that are recorded on the equity method of accounting. The fair value of the partnerships is obtained from the fund managers, which is based on the fair value of the underlying investments held in the partnerships. In management's opinion, these values represent a reasonable estimate of fair value. We have not adjusted the net asset value provided by the fund managers. For cash and cash equivalents and accrued investment income, carrying value is a reasonable estimate of fair value due to the short-term nature of these financial instruments. The Company formed a rabbi trust in 2014 to fund obligations under the United Fire & Casualty Company Supplemental Executive Retirement and Deferral Plan (the "Executive Retirement Plan"). Within the rabbi trust, corporate-owned life insurance ("COLI") policies are utilized as an investment vehicle and source of funding for the Company's Executive Retirement Plan. The COLI policies invest in mutual funds, which are priced daily by independent sources. As of September 30, 2020, the cash surrender value of the COLI policies was $7,670, which is equal to the fair value measured using Level 2 inputs, based on the underlying assets of the COLI policie s, and is included in other assets in the Consolidated Balance Sheets. The fair value of securities that are categorized as Level 1 is based on quoted market prices that are readily and regularly available. We use a market-based approach for valuing all of our Level 2 securities and submit them primarily to a third-party valuation service provider. Any of these securities not valued by this service provider are submitted to another third-party valuation service provider. Both service providers use a market approach to find pricing of similar financial instruments. The market inputs our service providers normally seek to value our securities include the following, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. The method and inputs for these securities classified as Level 2 are the same regardless of industry category, credit quality, duration, geographical concentration or economic characteristics. For our mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, our service providers use additional market inputs to value these securities, including the following: new issue data, periodic payment information, monthly payment information, collateral performance and real estate analysis from third parties. Our service providers prioritize inputs based on market conditions, and not all inputs listed are available for use in the valuation process for each security on any given day. At least annually, we review the methodologies and assumptions used by our valuation service providers and verify that they are reasonable and representative of the fair value of the underlying securities held in the investment portfolio. We validate the prices obtained from independent pricing services and brokers prior to their use for reporting purposes by evaluating their reasonableness on a monthly basis. In addition, on a quarterly basis, we also test all securities in the portfolio and independently corroborate the valuations obtained from our third-party valuation service providers. Quarterly, we also perform deep dive analysis of the pricing method used by our third-party valuation service provider by selecting a random sample of securities by asset class and reviewing methodologies. In our opinion, the pricing obtained at September 30, 2020 and December 31, 2019 was reasonable. For the three- and nine-month periods ended September 30, 2020, the change in our available-for-sale securities categorized as Level 1 and Level 2 is the result of investment purchases that were made using funds held in our money market accounts, disposals and the change in unrealized gains on both fixed maturities and equity securities.
Earnings Per Common Share	Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share gives effect to all dilutive common shares outstanding during the reporting period. The dilutive shares we consider in our diluted earnings per share calculation relate to our outstanding stock options, restricted stock awards and restricted stock unit awards.We determine the dilutive effect of our outstanding stock options using the "treasury stock" method. Under this method, we assume the exercise of all of the outstanding stock options whose exercise price is less than the weighted-average market value of our common stock during the reporting period. This method also assumes that the proceeds from the hypothetical stock option exercises are used to repurchase shares of our common stock at the weighted-average market value of the stock during the reporting period. The net of the assumed stock options exercised and assumed common shares repurchased represents the number of dilutive common shares, which we add to the denominator of the earnings per share calculation.

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Deferred Acquisition Costs	The following table is a summary of the components of DAC, including the related amortization recognized for the nine-month period ended September 30, 2020. Total Recorded asset at beginning of period $ 94,292 Underwriting costs deferred 158,371 Amortization of deferred policy acquisition costs (158,440) Recorded asset at September 30, 2020 $ 94,223
Schedule of Rollforward of Credit Loss Allowance for Reinsurance Receivable	As of September 30, 2020, the Company had a credit loss allowance for reinsurance receivables of $241. Rollforward of credit loss allowance for reinsurance receivable: As of September 30, 2020 Beginning balance, January 1, 2020 $ 38 Current-period provision for expected credit losses 203 Write-off charged against the allowance, if any — Recoveries of amounts previously written off, if any — Ending balance of the allowance for reinsurance receivable, September 30, 2020 $ 241

Summary of Investments (Tables)

Summary of Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Fair Value of Investments	A reconciliation of the amortized cost (cost for equity securities) to fair value of investments in available-for-sale fixed maturity and equity securities, presented on a consolidated basis, as of September 30, 2020 and December 31, 2019, is provided below: September 30, 2020 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value Allowance for Credit Losses Carrying Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 53,877 $ 730 $ 8 $ 54,599 $ — $ 54,599 U.S. government agency 60,503 4,457 — 64,960 — 64,960 States, municipalities and political subdivisions General obligations: Midwest 79,872 4,106 — 83,978 — 83,978 Northeast 29,124 1,426 — 30,550 — 30,550 South 105,290 5,295 — 110,585 — 110,585 West 102,772 7,175 — 109,947 — 109,947 Special revenue: Midwest 126,251 8,590 — 134,841 — 134,841 Northeast 58,287 4,557 — 62,844 — 62,844 South 220,904 17,446 — 238,350 — 238,350 West 133,934 9,168 — 143,102 — 143,102 Foreign bonds 26,413 1,835 230 28,018 — 28,018 Public utilities 77,147 7,155 — 84,302 — 84,302 Corporate bonds Energy 24,912 2,589 — 27,501 — 27,501 Industrials 39,558 3,499 — 43,057 — 43,057 Consumer goods and services 45,250 3,790 12 49,028 — 49,028 Health care 6,674 895 — 7,569 — 7,569 Technology, media and telecommunications 37,241 4,330 — 41,571 — 41,571 Financial services 95,696 7,030 267 102,459 8 102,451 Mortgage-backed securities 14,333 305 109 14,529 — 14,529 Collateralized mortgage obligations Government national mortgage association 71,992 5,206 1 77,197 — 77,197 Federal home loan mortgage corporation 119,006 3,019 349 121,676 — 121,676 Federal national mortgage association 83,276 2,579 406 85,449 — 85,449 Asset-backed securities 314 621 — 935 — 935 Total Available-for-Sale Fixed Maturities $ 1,612,626 $ 105,803 $ 1,382 $ 1,717,047 $ 8 $ 1,717,039 December 31, 2019 Type of Investment Cost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair Value AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 69,300 $ 203 $ 12 $ 69,491 U.S. government agency 97,962 2,344 104 100,202 States, municipalities and political subdivisions General obligations: Midwest 85,607 2,987 — 88,594 Northeast 30,120 1,150 — 31,270 South 111,688 3,515 — 115,203 West 105,569 4,748 — 110,317 Special revenue: Midwest 133,717 6,175 — 139,892 Northeast 58,665 2,878 — 61,543 South 224,214 10,452 — 234,666 West 138,557 6,287 — 144,844 Foreign bonds 4,936 181 — 5,117 Public utilities 60,950 2,701 — 63,651 Corporate bonds Energy 28,695 1,429 — 30,124 Industrials 52,249 1,766 — 54,015 Consumer goods and services 47,131 2,335 — 49,466 Health care 8,998 482 — 9,480 Technology, media and telecommunications 25,931 1,739 — 27,670 Financial services 96,613 3,870 230 100,253 Mortgage-backed securities 6,250 127 21 6,356 Collateralized mortgage obligations Government national mortgage association 78,400 2,053 97 80,356 Federal home loan mortgage corporation 123,572 1,150 220 124,502 Federal national mortgage association 70,322 1,631 108 71,845 Asset-backed securities 314 436 — 750 Total Available-for-Sale Fixed Maturities $ 1,659,760 $ 60,639 $ 792 $ 1,719,607
Schedule of Maturities	The amortized cost and fair value of available-for-sale and trading fixed maturity securities at September 30, 2020, by contractual maturity, are shown in the following tables. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity. Maturities Available-For-Sale Trading September 30, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 53,911 $ 54,386 $ 1,957 $ 3,935 Due after one year through five years 365,831 388,192 9,221 9,265 Due after five years through 10 years 401,105 433,321 — — Due after 10 years 502,858 541,362 1,080 1,611 Asset-backed securities 314 935 — — Mortgage-backed securities 14,333 14,529 — — Collateralized mortgage obligations 274,274 284,322 — — Allowance for credit losses — (8) — — $ 1,612,626 $ 1,717,039 $ 12,258 $ 14,811
Summary of Net Realized Investment Gains and Losses	A summary of the components of net realized investment gains (losses) is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net realized investment gains (losses): Fixed maturities: Available-for-sale $ 52 $ 129 $ 52 $ 271 Allowance for credit losses 2 — (8) — Trading securities Change in fair value 248 43 (760) 2,290 Sales 134 8 (20) 100 Equity securities Change in fair value 21,962 9,692 (38,876) 46,825 Sales (7,186) (50) (22,772) 655 Mortgage loans allowance for credit losses — — (4) (15) Real estate — — (28) — Total net realized investment gains (losses) $ 15,212 $ 9,822 $ (62,416) $ 50,126
Schedule of Proceeds and Gross Realized Gains and Losses	The proceeds and gross realized gains on the sale of available-for-sale fixed maturity securities are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Proceeds from sales $ — $ — $ 16,907 $ 36,490 Gross realized gains — — 198 30 Gross realized losses — — 495 13
Schedule of Unrealized Investment Appreciation	A summary of the changes in net unrealized investment appreciation during the reporting period is as follows: Nine Months Ended September 30, 2020 2019 Change in net unrealized investment appreciation Available-for-sale fixed maturities $ 44,574 $ 77,103 Income tax effect (9,361) (16,192) Total change in net unrealized investment appreciation, net of tax $ 35,213 $ 60,911
Schedule of Rollforward of Allowance for Credit Losses for Available-for-Sale Fixed Maturity Securities	The following table contains a rollforward of the allowance for credit losses for available-for-sale fixed maturity securities at September 30, 2020: Rollforward of allowance for credit losses for available-for-sale fixed maturity securities: As of September 30, 2020 Beginning balance, January 1, 2020 $ — Additions to the allowance for credit losses for which credit losses were not previously recorded 8 Reductions for securities sold during the period (realized) — Writeoffs charged against the allowance — Recoveries of amounts previously written off — Ending balance, September 30, 2020 $ 8
Schedule of Investments in Unrealized Loss Position	The following tables summarize our fixed maturity securities that were in an unrealized loss position reported on a consolidated basis at September 30, 2020 and December 31, 2019. The securities are presented by the length of time they have been continuously in an unrealized loss position. Non-credit related unrealized losses are recognized as a component of other comprehensive income and represent other market movements that are not credit related, for example interest rate changes. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature. September 30, 2020 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury 2 $ 11,804 $ 8 — $ — $ — $ 11,804 $ 8 Foreign bonds 1 $ 2,776 $ 230 — $ — $ — $ 2,776 $ 230 Corporate bonds Consumer goods and services 1 2,196 12 — — — 2,196 12 Financial services 1 2,998 2 1 3,000 9 5,998 11 Mortgage-backed securities 2 9,118 107 6 157 2 9,275 109 Collateralized mortgage obligations Federal home loan mortgage corporation 14 48,062 348 1 57 1 48,119 349 Federal national mortgage association 10 43,684 406 — — — 43,684 406 Government national mortgage association — — — 1 76 1 76 1 Total Available-for-Sale Fixed Maturities 31 $ 120,638 $ 1,113 9 $ 3,290 $ 13 $ 123,928 $ 1,126 December 31, 2019 Less than 12 months 12 months or longer Total Type of Investment Number Fair Gross Unrealized Depreciation Number Fair Gross Unrealized Depreciation Fair Gross Unrealized Depreciation AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury — $ — $ — 2 $ 4,733 $ 12 $ 4,733 $ 12 U.S. government agency 3 13,846 104 — — — 13,846 104 Corporate bonds Financial services 3 10,906 142 1 4,913 88 15,819 230 Mortgage-backed securities — — — 13 1,585 21 1,585 21 Collateralized mortgage obligations Federal home loan mortgage corporation 12 50,829 183 3 4,844 37 55,673 220 Federal national mortgage association 4 23,515 90 3 1,102 18 24,617 108 Government national mortgage association 2 8,444 38 5 3,053 59 11,497 97 Total Available-for-Sale Fixed Maturities 24 $ 107,540 $ 557 27 $ 20,230 $ 235 $ 127,770 $ 792

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Carrying Value and Estimated Fair Value of Financial Instruments	A summary of the carrying value and estimated fair value of our financial instruments at September 30, 2020 and December 31, 2019 is as follows: September 30, 2020 December 31, 2019 Fair Value Carrying Value Fair Value Carrying Value Assets Investments Fixed maturities: Available-for-sale securities $ 1,717,047 $ 1,717,039 $ 1,719,607 $ 1,719,607 Trading securities 14,811 14,811 15,256 15,256 Equity securities 198,791 198,791 299,203 299,203 Mortgage loans 48,977 47,733 43,992 42,448 Other long-term investments 62,903 62,903 78,410 78,410 Short-term investments 175 175 175 175 Cash and cash equivalents 99,604 99,604 120,722 120,722 Corporate-owned life insurance 7,670 7,670 6,777 6,777
Summary of Financial Instruments Measured at Fair Value on Recurring Basis	The following tables present the categorization for our financial instruments measured at fair value on a recurring basis. The table includes financial instruments at September 30, 2020 and December 31, 2019: September 30, 2020 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 54,599 $ — $ 54,599 $ — U.S. government agency 64,960 — 64,960 — States, municipalities and political subdivisions General obligations Midwest 83,978 — 83,978 — Northeast 30,550 — 30,550 — South 110,585 — 110,585 — West 109,947 — 109,947 — Special revenue Midwest 134,841 — 134,841 — Northeast 62,844 — 62,844 — South 238,350 — 238,350 — West 143,102 — 143,102 — Foreign bonds 28,018 — 28,018 — Public utilities 84,302 — 84,302 — Corporate bonds Energy 27,501 — 27,501 — Industrials 43,057 — 43,057 — Consumer goods and services 49,028 — 49,028 — Health care 7,569 — 7,569 — Technology, media and telecommunications 41,571 — 41,571 — Financial services 102,459 — 102,209 250 Mortgage-backed securities 14,529 — 14,529 — Collateralized mortgage obligations Government national mortgage association 77,197 — 77,197 — Federal home loan mortgage corporation 121,676 — 121,676 — Federal national mortgage association 85,449 — 85,449 — Asset-backed securities 935 — — 935 Total Available-for-Sale Fixed Maturities $ 1,717,047 $ — $ 1,715,862 $ 1,185 TRADING Fixed maturities: Bonds Corporate bonds Industrials $ 2,004 $ — $ 2,004 $ — Consumer goods and services 1,171 — 1,171 — Health care 4,965 — 4,965 — Financial services 1,622 — 1,622 — Redeemable preferred stocks 5,049 5,049 — — Total Trading Securities $ 14,811 $ 5,049 $ 9,762 $ — EQUITY SECURITIES Common stocks Public utilities $ 16,344 $ 16,344 $ — $ — Energy 8,833 8,833 — — Industrials 30,935 30,935 — — Consumer goods and services 31,432 31,432 — — Health care 24,646 24,646 — — Technology, media and telecommunications 16,003 16,003 — — Financial services 63,957 63,957 — — Nonredeemable preferred stocks 6,641 6,046 — 595 Total Equity Securities $ 198,791 $ 198,196 $ — $ 595 Short-Term Investments $ 175 $ 175 $ — $ — Money Market Accounts $ 54,590 $ 54,590 $ — $ — Corporate-Owned Life Insurance $ 7,670 $ — $ 7,670 $ — Total Assets Measured at Fair Value $ 1,993,084 $ 258,010 $ 1,733,294 $ 1,780 December 31, 2019 Fair Value Measurements Description Total Level 1 Level 2 Level 3 AVAILABLE-FOR-SALE Fixed maturities: Bonds U.S. Treasury $ 69,491 $ — $ 69,491 $ — U.S. government agency 100,202 — 100,202 — States, municipalities and political subdivisions General obligations Midwest 88,594 — 88,594 — Northeast 31,270 — 31,270 — South 115,203 — 115,203 — West 110,317 — 110,317 — Special revenue Midwest 139,892 — 139,892 — Northeast 61,543 — 61,543 — South 234,666 — 234,666 — West 144,844 — 144,844 — Foreign bonds 5,117 — 5,117 — Public utilities 63,651 — 63,651 — Corporate bonds Energy 30,124 — 30,124 — Industrials 54,015 — 54,015 — Consumer goods and services 49,466 — 49,466 — Health care 9,480 — 9,480 — Technology, media and telecommunications 27,670 — 27,670 — Financial services 100,253 — 100,003 250 Mortgage-backed securities 6,356 — 6,356 — Collateralized mortgage obligations Government national mortgage association 80,356 — 80,356 — Federal home loan mortgage corporation 124,502 — 124,502 — Federal national mortgage association 71,845 — 71,845 — Asset-backed securities 750 — — 750 Total Available-for-Sale Fixed Maturities $ 1,719,607 $ — $ 1,718,607 $ 1,000 TRADING Fixed maturities: Bonds Corporate bonds Consumer goods and services $ 2,276 $ — $ 2,276 $ — Health care 4,701 — 4,701 — Technology, media and telecommunications 1,732 — 1,732 — Financial services 2,460 — 2,460 — Redeemable preferred stocks 4,087 4,087 — — Total Trading Securities $ 15,256 $ 4,087 $ 11,169 — EQUITY SECURITIES Common stocks Public utilities $ 16,295 $ 16,295 $ — $ — Energy 14,639 14,639 — — Industrials 57,330 57,330 — — Consumer goods and services 29,935 29,935 — — Health care 27,285 27,285 — — Technology, media and telecommunications 19,265 19,265 — — Financial services 127,780 127,780 — — Nonredeemable preferred stocks 6,674 6,079 — 595 Total Equity Securities $ 299,203 $ 298,608 $ — $ 595 Short-Term Investments $ 175 $ 175 $ — $ — Money Market Accounts $ 9,334 $ 9,334 $ — $ — Corporate-Owned Life Insurance $ 6,777 $ — $ 6,777 $ — Total Assets Measured at Fair Value $ 2,050,352 $ 312,204 $ 1,736,553 $ 1,595
Summary of Quantitative Information About Level 3 Fair Value Measurements	The following table provides a quantitative information about our Level 3 securities at September 30, 2020: Quantitative Information about Level 3 Fair Value Measurements Fair Value at Valuation Technique(s) Unobservable inputs Range of weighted average significant unobservable inputs September 30, 2020 Corporate bonds - financial services $ 250 Fair value equals cost NA NA Fixed Maturities asset-backed securities 935 Discounted cash flow Probability of default 4% - 6% Nonredeemable preferred stocks 595 Discounted cash flow Multiplier 3x - 4x
Changes in Fair Value of Level 3 Securities	The following table provides a summary of the changes in fair value of our Level 3 securities for the three-month period ended September 30, 2020: Corporate bonds Asset-backed securities Equities Total Balance at June 30, 2020 $ 250 $ 927 $ 595 $ 1,772 Net unrealized gains (1) — 8 — 8 Balance at September 30, 2020 $ 250 $ 935 $ 595 $ 1,780 (1) Net unrealized gains are recorded as a component of comprehensive income. The following table provides a summary of the changes in fair value of our Level 3 securities for the nine-month period ended September 30, 2020: Corporate bonds Asset-backed securities Equities Total Balance at January 1, 2020 $ 250 $ 750 $ 595 $ 1,595 Net unrealized gains (1) — 185 — 185 Balance at September 30, 2020 $ 250 $ 935 $ 595 $ 1,780 (1) Net unrealized gains are recorded as a component of comprehensive income.
Summary of Carrying Value of Commercial Mortgage Loans by Loan-to-Value Ratio	The following tables present the carrying value of our commercial mortgage loans and additional information at September 30, 2020 and December 31, 2019: Commercial Mortgage Loans September 30, 2020 December 31, 2019 Loan-to-value Carrying Value Carrying Value Less than 65% $ 30,467 $ 34,024 65%-75% 17,342 8,496 Total amortized cost $ 47,809 $ 42,520 Allowance for mortgage loan losses (76) (72) Mortgage loans, net $ 47,733 $ 42,448 Mortgage Loans by Region September 30, 2020 December 31, 2019 Carrying Value Percent of Total Carrying Value Percent of Total East North Central $ 3,245 6.8 % $ 3,245 7.6 % Southern Atlantic 9,794 20.5 7,026 16.5 East South Central 8,238 17.2 8,358 19.7 New England 6,588 13.8 6,588 15.5 Middle Atlantic 14,971 31.3 15,076 35.5 Mountain 2,227 4.6 2,227 5.2 West North Central 2,746 5.8 — — Total mortgage loans at amortized cost $ 47,809 100.0 % $ 42,520 100.0 % Mortgage Loans by Property Type September 30, 2020 December 31, 2019 Carrying Value Percent of Total Carrying Value Percent of Total Commercial Multifamily $ 17,051 35.6 % $ 11,741 27.6 % Office 11,932 25.0 11,848 27.9 Industrial 10,124 21.2 10,124 23.8 Retail 2,227 4.7 2,227 5.2 Mixed use/Other 6,475 13.5 6,580 15.5 Total mortgage loans at amortized cost $ 47,809 100.0 % $ 42,520 100.0 %
Summary of Amortized Cost Basis by Year of Origination and Credit Quality Indicator	Amortized Cost Basis by Year of Origination and Credit Quality Indicator 2020 2019 2018 Total Commercial mortgage loans: Risk Rating: 1-2 internal grade $ 5,551 $ 8,404 $ 18,770 $ 32,725 3-4 internal grade — 8,496 6,588 15,084 5 internal grade — — — — 6 internal grade — — — — 7 internal grade — — — — Total commercial mortgage loans $ 5,551 $ 16,900 $ 25,358 $ 47,809 Current-period write-offs — — — — Current-period recoveries — — — — Current-period net write-offs $ — $ — $ — $ —
Summary of Rollforward of Allowance for Mortgage Loan Losses	As of September 30, 2020, the Company had an allowance for mortgage loan losses of $76, summarized in the following rollforward: Rollforward of allowance for mortgage loan losses: As of September 30, 2020 Beginning balance, January 1, 2020 $ 72 Current-period provision for expected credit losses 4 Write-off charged against the allowance, if any — Recoveries of amounts previously written off, if any — Ending balance of the allowance for mortgage loan losses, September 30, 2020 $ 76

Reserves for Losses and Loss _2

Reserves for Losses and Loss Settlement Expenses (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance Loss Reserves [Abstract]
Changes in Property and Casualty Losses and Loss Settlement Expense Reserves	The following table provides an analysis of changes in our property and casualty losses and loss settlement expense reserves at September 30, 2020 and December 31, 2019 (net of reinsurance amounts): September 30, 2020 December 31, 2019 Gross liability for losses and loss settlement expenses $ 1,421,754 $ 1,312,483 Ceded losses and loss settlement expenses (68,536) (57,094) Net liability for losses and loss settlement expenses $ 1,353,218 $ 1,255,389 Losses and loss settlement expenses incurred Current year $ 656,207 $ 835,507 Prior years (30,038) (5,335) Total incurred $ 626,169 $ 830,172 Losses and loss settlement expense payments Current year $ 263,898 $ 333,975 Prior years 330,190 398,368 Total paid $ 594,088 $ 732,343 Net liability for losses and loss settlement expenses $ 1,385,299 $ 1,353,218 Ceded loss and loss settlement expenses 169,784 68,536 Gross liability for losses and loss settlement expenses $ 1,555,083 $ 1,421,754

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Net Periodic Benefit Cost	The components of the net periodic benefit cost for our pension and postretirement benefit plans are as follows: Pension Plan Postretirement Benefit Plan Three Months Ended September 30, 2020 2019 2020 2019 Net periodic benefit cost Service cost $ 2,707 $ 1,997 $ 432 $ 456 Interest cost 2,066 2,080 253 319 Expected return on plan assets (3,385) (2,696) — — Amortization of prior service credit — — (2,021) (2,221) Amortization of net loss 979 901 94 224 Net periodic benefit cost $ 2,367 $ 2,282 $ (1,242) $ (1,222) Pension Plan Postretirement Benefit Plan Nine Months Ended September 30, 2020 2019 2020 2019 Net periodic benefit cost Service cost $ 8,122 $ 5,991 $ 1,296 $ 1,368 Interest cost 6,199 6,240 760 956 Expected return on plan assets (10,154) (8,088) — — Amortization of prior service credit — — (6,063) (6,463) Amortization of net loss 2,936 2,703 282 671 Net periodic benefit cost $ 7,103 $ 6,846 $ (3,725) $ (3,468)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Activity in Stock Award Plans	The activity in the Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2020 From Inception to September 30, 2020 Beginning balance 834,910 1,900,000 Additional shares authorized — 1,500,000 Number of awards granted (165,024) (3,281,445) Number of awards forfeited or expired 34,874 586,205 Ending balance 704,760 704,760 Number of option awards exercised 7,200 1,450,389 Number of unrestricted stock awards granted — 10,090 Number of restricted stock awards vested 63,600 164,378 The activity in the Director Stock Plan is displayed in the following table: Authorized Shares Available for Future Award Grants Nine Months Ended September 30, 2020 From Inception to September 30, 2020 Beginning balance 34,863 300,000 Additional authorization 150,000 150,000 Number of awards granted (24,728) (313,868) Number of awards forfeited or expired — 24,003 Ending balance 160,135 160,135 Number of option awards exercised 14,183 133,275 Number of restricted stock awards vested 14,300 98,491
Remaining Stock-Based Compensation Expense	We expect this compensation to be recognized over the remainder of 2020 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated. 2020 $ 1,060 2021 2,584 2022 1,056 2023 211 2024 82 2025 11 Total $ 5,004

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share were as follows for the three-month periods ended September 30, 2020 and 2019: Three Months Ended September 30, (In Thousands, Except Share Data) 2020 2019 Basic Diluted Basic Diluted Net income (loss) $ (37,241) $ (37,241) $ (2,342) $ (2,342) Weighted-average common shares outstanding 25,031,234 25,031,234 25,176,334 25,176,334 Add dilutive effect of restricted stock unit awards — — — — Add dilutive effect of stock options — — — — Weighted-average common shares outstanding 25,031,234 25,031,234 25,176,334 25,176,334 Earnings (loss) per common share $ (1.49) $ (1.49) $ (0.09) $ (0.09) Awards excluded from diluted earnings per share calculation (1) — 820,124 — 63,897 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive. The components of basic and diluted earnings per share were as follows for the nine-month periods ended September 30, 2020 and 2019: Nine Months Ended September 30, (In Thousands, Except Share Data) 2020 2019 Basic Diluted Basic Diluted Net income (loss) $ (103,815) $ (103,815) $ 37,983 $ 37,983 Weighted-average common shares outstanding 25,023,401 25,023,401 25,172,716 25,172,716 Add dilutive effect of restricted stock unit awards — — — 249,605 Add dilutive effect of stock options — — — 221,423 Weighted-average common shares outstanding 25,023,401 25,023,401 25,172,716 25,643,744 Earnings (loss) per common share $ (4.15) $ (4.15) $ 1.51 $ 1.48 Awards excluded from diluted earnings per share calculation (1) — 515,984 — 63,897 (1) Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the three-month period ended September 30, 2020: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of June 30, 2020 79,283 (32,433) $ 46,850 Change in accumulated other comprehensive income before reclassifications 3,252 — 3,252 Reclassification adjustments from accumulated other comprehensive income (loss) (43) 848 805 Balance as of September 30, 2020 $ 82,492 $ (31,585) $ 50,907 (1) The preparation of financial statements in conformity with GAAP requires us to make various estimates and assumptions that affect the reporting of net periodic benefit cost, plan assets and plan obligations for each plan at the date of the financial statements. Actual results could differ from these estimates. One significant estimate relates to the calculation of the benefit obligation for each plan. We annually establish the discount rate, which is an estimate of the interest rate at which these benefits could be effectively settled, that is used to determine the present value of the respective plan's benefit obligations as of December 31. The following table shows the changes in the components of our accumulated other comprehensive income (loss), net of tax, for the nine-month period ended September 30, 2020: Liability for Net unrealized underfunded appreciation employee on investments benefit costs (1) Total Balance as of January 1, 2020 47,279 (34,127) $ 13,152 Change in accumulated other comprehensive income before reclassifications 35,223 — 35,223 Reclassification adjustments from accumulated other comprehensive income (loss) (10) 2,542 2,532 Balance as of September 30, 2020 $ 82,492 $ (31,585) $ 50,907

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Operating Leases	The components of our operating leases were as follows for the three- and nine-month periods ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Components of lease expense: Operating lease expense $ 1,832 $ 1,910 $ 5,788 $ 5,730 Less sublease income 53 119 239 371 Net lease expense 1,779 1,791 5,549 5,359 Cash flows information related to leases: Operating cash outflow from operating leases 1,796 1,812 5,265 5,420

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation (Segment Information) (Details)	Sep. 18, 2017segment	Sep. 30, 2020statesegmentlocation
Segment Reporting Information [Line Items]
Number of states in which we are licensed as insurer | state		48
Number of business segments	2
Number of reportable segments		1
Property and Casualty Insurance
Segment Reporting Information [Line Items]
Number of domestic locations | location		6

Nature of Operations and Basi_5

Nature of Operations and Basis of Presentation (Discontinued Operations) (Details) - United Life - Discontinued Operations $ in Thousands	Mar. 30, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration in cash	$ 280,000
Adjustment as set forth in the definitive agreement	21
Net amount of consideration	279,979
After-tax gain on sale of discontinued operations	$ 27,307

Nature of Operations and Basi_6

Nature of Operations and Basis of Presentation (Cash and Cash Equivalents) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Payment for income taxes	$ 125,000	$ 1,556,000
Federal tax refund received	0	5,401,000
Interest payments	$ 0	$ 0

Nature of Operations and Basi_7

Nature of Operations and Basis of Presentation (Deferred Policy Acquisition Costs) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Recorded asset at beginning of period	$ 94,292
Underwriting costs deferred	158,371
Amortization of deferred policy acquisition costs	(158,440)
Recorded asset at ending of period	$ 94,223

Nature of Operations and Basi_8

Nature of Operations and Basis of Presentation (Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Goodwill impairment	$ 15,091	$ 0	$ 15,091	$ 0

Nature of Operations and Basi_9

Nature of Operations and Basis of Presentation (Income Taxes) (Details) - USD ($)	Mar. 27, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Income tax benefit, CARES Act	$ 17,800,000
Federal income tax expense (benefit)		$ (17,987,000)	$ (2,186,000)	$ (52,176,000)	$ 7,595,000
Liability for unrecognized tax benefits		$ 0		$ 0		$ 0

Nature of Operations and Bas_10

Nature of Operations and Basis of Presentation (Variable Interest Entities) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)variable_interest_entity	Dec. 31, 2019USD ($)
Variable Interest Entity [Line Items]
Number of variable interest entities | variable_interest_entity	1
Fair value of VIE	$ 3,048,480	$ 3,013,472
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Fair value of VIE	$ 3,638

Nature of Operations and Bas_11

Nature of Operations and Basis of Presentation (Credit Losses) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jan. 01, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment income accrual period	6 months
Credit loss allowance for reinsurance receivables	$ 241	$ 38	$ 0

Nature of Operations and Bas_12

Nature of Operations and Basis of Presentation (Rollforward of Credit Loss Allowance for Reinsurance Receivable) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Beginning balance, January 1, 2020	$ 0
Current-period provision for expected credit losses	203
Write-off charged against the allowance, if any	0
Recoveries of amounts previously written off, if any	0
Ending balance of the allowance for reinsurance receivable, September 30, 2020	$ 241

Summary of Investments (Fair Va

Summary of Investments (Fair Value of Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fixed maturities:
Cost or Amortized Cost	$ 1,612,626	$ 1,659,760
Gross Unrealized Appreciation	105,803	60,639
Gross Unrealized Depreciation	1,382	792
Fair Value	1,717,039	1,719,607
Allowance for Credit Losses	8	0
U.S. Treasury
Fixed maturities:
Cost or Amortized Cost	53,877	69,300
Gross Unrealized Appreciation	730	203
Gross Unrealized Depreciation	8	12
Fair Value		69,491
Allowance for Credit Losses	0
U.S. government agency
Fixed maturities:
Cost or Amortized Cost	60,503	97,962
Gross Unrealized Appreciation	4,457	2,344
Gross Unrealized Depreciation	0	104
Fair Value		100,202
Allowance for Credit Losses	0
States, municipalities and political subdivisions | General obligations | Midwest
Fixed maturities:
Cost or Amortized Cost	79,872	85,607
Gross Unrealized Appreciation	4,106	2,987
Gross Unrealized Depreciation	0	0
Fair Value		88,594
Allowance for Credit Losses	0
States, municipalities and political subdivisions | General obligations | Northeast
Fixed maturities:
Cost or Amortized Cost	29,124	30,120
Gross Unrealized Appreciation	1,426	1,150
Gross Unrealized Depreciation	0	0
Fair Value		31,270
Allowance for Credit Losses	0
States, municipalities and political subdivisions | General obligations | South
Fixed maturities:
Cost or Amortized Cost	105,290	111,688
Gross Unrealized Appreciation	5,295	3,515
Gross Unrealized Depreciation	0	0
Fair Value		115,203
Allowance for Credit Losses	0
States, municipalities and political subdivisions | General obligations | West
Fixed maturities:
Cost or Amortized Cost	102,772	105,569
Gross Unrealized Appreciation	7,175	4,748
Gross Unrealized Depreciation	0	0
Fair Value		110,317
Allowance for Credit Losses	0
States, municipalities and political subdivisions | Special revenue | Midwest
Fixed maturities:
Cost or Amortized Cost	126,251	133,717
Gross Unrealized Appreciation	8,590	6,175
Gross Unrealized Depreciation	0	0
Fair Value		139,892
Allowance for Credit Losses	0
States, municipalities and political subdivisions | Special revenue | Northeast
Fixed maturities:
Cost or Amortized Cost	58,287	58,665
Gross Unrealized Appreciation	4,557	2,878
Gross Unrealized Depreciation	0	0
Fair Value		61,543
Allowance for Credit Losses	0
States, municipalities and political subdivisions | Special revenue | South
Fixed maturities:
Cost or Amortized Cost	220,904	224,214
Gross Unrealized Appreciation	17,446	10,452
Gross Unrealized Depreciation	0	0
Fair Value		234,666
Allowance for Credit Losses	0
States, municipalities and political subdivisions | Special revenue | West
Fixed maturities:
Cost or Amortized Cost	133,934	138,557
Gross Unrealized Appreciation	9,168	6,287
Gross Unrealized Depreciation	0	0
Fair Value		144,844
Allowance for Credit Losses	0
Foreign bonds
Fixed maturities:
Cost or Amortized Cost	26,413	4,936
Gross Unrealized Appreciation	1,835	181
Gross Unrealized Depreciation	230	0
Fair Value		5,117
Allowance for Credit Losses	0
Public utilities
Fixed maturities:
Cost or Amortized Cost	77,147	60,950
Gross Unrealized Appreciation	7,155	2,701
Gross Unrealized Depreciation	0	0
Fair Value		63,651
Allowance for Credit Losses	0
Corporate bonds | Energy
Fixed maturities:
Cost or Amortized Cost	24,912	28,695
Gross Unrealized Appreciation	2,589	1,429
Gross Unrealized Depreciation	0	0
Fair Value		30,124
Allowance for Credit Losses	0
Corporate bonds | Industrials
Fixed maturities:
Cost or Amortized Cost	39,558	52,249
Gross Unrealized Appreciation	3,499	1,766
Gross Unrealized Depreciation	0	0
Fair Value		54,015
Allowance for Credit Losses	0
Corporate bonds | Consumer goods and services
Fixed maturities:
Cost or Amortized Cost	45,250	47,131
Gross Unrealized Appreciation	3,790	2,335
Gross Unrealized Depreciation	12	0
Fair Value		49,466
Allowance for Credit Losses	0
Corporate bonds | Health care
Fixed maturities:
Cost or Amortized Cost	6,674	8,998
Gross Unrealized Appreciation	895	482
Gross Unrealized Depreciation	0	0
Fair Value		9,480
Allowance for Credit Losses	0
Corporate bonds | Technology, media and telecommunications
Fixed maturities:
Cost or Amortized Cost	37,241	25,931
Gross Unrealized Appreciation	4,330	1,739
Gross Unrealized Depreciation	0	0
Fair Value		27,670
Allowance for Credit Losses	0
Corporate bonds | Financial services
Fixed maturities:
Cost or Amortized Cost	95,696	96,613
Gross Unrealized Appreciation	7,030	3,870
Gross Unrealized Depreciation	267	230
Fair Value		100,253
Allowance for Credit Losses	8
Mortgage-backed securities
Fixed maturities:
Cost or Amortized Cost	14,333	6,250
Gross Unrealized Appreciation	305	127
Gross Unrealized Depreciation	109	21
Fair Value		6,356
Allowance for Credit Losses	0
Collateralized mortgage obligations | Government national mortgage association
Fixed maturities:
Cost or Amortized Cost	71,992	78,400
Gross Unrealized Appreciation	5,206	2,053
Gross Unrealized Depreciation	1	97
Fair Value		80,356
Allowance for Credit Losses	0
Collateralized mortgage obligations | Federal home loan mortgage corporation
Fixed maturities:
Cost or Amortized Cost	119,006	123,572
Gross Unrealized Appreciation	3,019	1,150
Gross Unrealized Depreciation	349	220
Fair Value		124,502
Allowance for Credit Losses	0
Collateralized mortgage obligations | Federal national mortgage association
Fixed maturities:
Cost or Amortized Cost	83,276	70,322
Gross Unrealized Appreciation	2,579	1,631
Gross Unrealized Depreciation	406	108
Fair Value		71,845
Allowance for Credit Losses	0
Asset-backed securities
Fixed maturities:
Cost or Amortized Cost	314	314
Gross Unrealized Appreciation	621	436
Gross Unrealized Depreciation	0	0
Fair Value		750
Allowance for Credit Losses	0
Fair Value
Fixed maturities:
Fair Value	1,717,047	1,719,607
Fair Value | U.S. Treasury
Fixed maturities:
Fair Value	54,599
Fair Value | U.S. government agency
Fixed maturities:
Fair Value	64,960
Fair Value | States, municipalities and political subdivisions | General obligations | Midwest
Fixed maturities:
Fair Value	83,978
Fair Value | States, municipalities and political subdivisions | General obligations | Northeast
Fixed maturities:
Fair Value	30,550
Fair Value | States, municipalities and political subdivisions | General obligations | South
Fixed maturities:
Fair Value	110,585
Fair Value | States, municipalities and political subdivisions | General obligations | West
Fixed maturities:
Fair Value	109,947
Fair Value | States, municipalities and political subdivisions | Special revenue | Midwest
Fixed maturities:
Fair Value	134,841
Fair Value | States, municipalities and political subdivisions | Special revenue | Northeast
Fixed maturities:
Fair Value	62,844
Fair Value | States, municipalities and political subdivisions | Special revenue | South
Fixed maturities:
Fair Value	238,350
Fair Value | States, municipalities and political subdivisions | Special revenue | West
Fixed maturities:
Fair Value	143,102
Fair Value | Foreign bonds
Fixed maturities:
Fair Value	28,018
Fair Value | Public utilities
Fixed maturities:
Fair Value	84,302
Fair Value | Corporate bonds | Energy
Fixed maturities:
Fair Value	27,501
Fair Value | Corporate bonds | Industrials
Fixed maturities:
Fair Value	43,057
Fair Value | Corporate bonds | Consumer goods and services
Fixed maturities:
Fair Value	49,028
Fair Value | Corporate bonds | Health care
Fixed maturities:
Fair Value	7,569
Fair Value | Corporate bonds | Technology, media and telecommunications
Fixed maturities:
Fair Value	41,571
Fair Value | Corporate bonds | Financial services
Fixed maturities:
Fair Value	102,459
Fair Value | Mortgage-backed securities
Fixed maturities:
Fair Value	14,529
Fair Value | Collateralized mortgage obligations | Government national mortgage association
Fixed maturities:
Fair Value	77,197
Fair Value | Collateralized mortgage obligations | Federal home loan mortgage corporation
Fixed maturities:
Fair Value	121,676
Fair Value | Collateralized mortgage obligations | Federal national mortgage association
Fixed maturities:
Fair Value	85,449
Fair Value | Asset-backed securities
Fixed maturities:
Fair Value	935
Carrying Value
Fixed maturities:
Fair Value	1,717,039	$ 1,719,607
Carrying Value | U.S. Treasury
Fixed maturities:
Fair Value	54,599
Carrying Value | U.S. government agency
Fixed maturities:
Fair Value	64,960
Carrying Value | States, municipalities and political subdivisions | General obligations | Midwest
Fixed maturities:
Fair Value	83,978
Carrying Value | States, municipalities and political subdivisions | General obligations | Northeast
Fixed maturities:
Fair Value	30,550
Carrying Value | States, municipalities and political subdivisions | General obligations | South
Fixed maturities:
Fair Value	110,585
Carrying Value | States, municipalities and political subdivisions | General obligations | West
Fixed maturities:
Fair Value	109,947
Carrying Value | States, municipalities and political subdivisions | Special revenue | Midwest
Fixed maturities:
Fair Value	134,841
Carrying Value | States, municipalities and political subdivisions | Special revenue | Northeast
Fixed maturities:
Fair Value	62,844
Carrying Value | States, municipalities and political subdivisions | Special revenue | South
Fixed maturities:
Fair Value	238,350
Carrying Value | States, municipalities and political subdivisions | Special revenue | West
Fixed maturities:
Fair Value	143,102
Carrying Value | Foreign bonds
Fixed maturities:
Fair Value	28,018
Carrying Value | Public utilities
Fixed maturities:
Fair Value	84,302
Carrying Value | Corporate bonds | Energy
Fixed maturities:
Fair Value	27,501
Carrying Value | Corporate bonds | Industrials
Fixed maturities:
Fair Value	43,057
Carrying Value | Corporate bonds | Consumer goods and services
Fixed maturities:
Fair Value	49,028
Carrying Value | Corporate bonds | Health care
Fixed maturities:
Fair Value	7,569
Carrying Value | Corporate bonds | Technology, media and telecommunications
Fixed maturities:
Fair Value	41,571
Carrying Value | Corporate bonds | Financial services
Fixed maturities:
Fair Value	102,451
Carrying Value | Mortgage-backed securities
Fixed maturities:
Fair Value	14,529
Carrying Value | Collateralized mortgage obligations | Government national mortgage association
Fixed maturities:
Fair Value	77,197
Carrying Value | Collateralized mortgage obligations | Federal home loan mortgage corporation
Fixed maturities:
Fair Value	121,676
Carrying Value | Collateralized mortgage obligations | Federal national mortgage association
Fixed maturities:
Fair Value	85,449
Carrying Value | Asset-backed securities
Fixed maturities:
Fair Value	$ 935

Summary of Investments (Maturit

Summary of Investments (Maturities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Available-For-Sale, Amortized Cost
Due in one year or less	$ 53,911
Due after one year through five years	365,831
Due after five years through 10 years	401,105
Due after 10 years	502,858
Amortized Cost	1,612,626	$ 1,659,760
Available-For-Sale, Fair Value
Due in one year or less	54,386
Due after one year through five years	388,192
Due after five years through 10 years	433,321
Due after 10 years	541,362
Allowance for credit losses	(8)	0
Fair Value	1,717,039	1,719,607
Trading, Amortized Cost
Due in one year or less	1,957
Due after one year through five years	9,221
Due after five years through 10 years	0
Due after 10 years	1,080
Amortized Cost	12,258	11,941
Trading, Fair Value
Due in one year or less	3,935
Due after one year through five years	9,265
Due after five years through 10 years	0
Due after 10 years	1,611
Fair Value	14,811	15,256
Asset-backed securities
Available-For-Sale, Amortized Cost
Securities not categorized by contractual maturity	314
Amortized Cost	314	314
Available-For-Sale, Fair Value
Securities not categorized by contractual maturity	935
Allowance for credit losses	0
Fair Value		750
Mortgage-backed securities
Available-For-Sale, Amortized Cost
Securities not categorized by contractual maturity	14,333
Amortized Cost	14,333	6,250
Available-For-Sale, Fair Value
Securities not categorized by contractual maturity	14,529
Allowance for credit losses	0
Fair Value		$ 6,356
Collateralized mortgage obligations
Available-For-Sale, Amortized Cost
Securities not categorized by contractual maturity	274,274
Available-For-Sale, Fair Value
Securities not categorized by contractual maturity	$ 284,322

Summary of Investments (Net Rea

Summary of Investments (Net Realized Investment Gains and Losses and Proceeds) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net realized investment gains (losses):
Available-for-sale	$ 52	$ 129	$ 52	$ 271
Allowance for credit losses	2	0	(8)	0
Trading securities
Change in fair value	248	43	(760)	2,290
Sales	134	8	(20)	100
Equity securities
Change in fair value	21,962	9,692	(38,876)	46,825
Sales	(7,186)	(50)	(22,772)	655
Mortgage loans allowance for credit losses	0	0	(4)	(15)
Real estate	0	0	(28)	0
Total net realized investment gains (losses)	15,212	9,822	(62,416)	50,126
Proceeds from sales	0	0	16,907	36,490
Gross realized gains	0	0	198	30
Gross realized losses	$ 0	$ 0	$ 495	$ 13

Summary of Investments (Narrati

Summary of Investments (Narrative) (Details) $ in Thousands	1 Months Ended
	Dec. 31, 2019USD ($)date	Sep. 30, 2020USD ($)
Investments, Debt and Equity Securities [Abstract]
Trading securities	$ 15,256	$ 14,811
Remaining potential contractual obligation		10,284
Investment in limited liability partnership investment fund	$ 25,000
Lockup period	3 years
Minimum notice period	60 days
Number of possible repurchase dates | date	4
Investment fair value		$ 24,035

Summary of Investments (Unreali

Summary of Investments (Unrealized Appreciation) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Change in net unrealized investment appreciation
Available-for-sale fixed maturities	$ 44,574	$ 77,103
Income tax effect	(9,361)	(16,192)
Total change in net unrealized investment appreciation, net of tax	$ 35,213	$ 60,911

Summary of Investments (Rollfor

Summary of Investments (Rollforward of Allowance for Credit Losses for Available-for-Sale Fixed Maturity Securities) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Rollforward of allowance for credit losses for available-for-sale fixed maturity securities:
Beginning balance, January 1, 2020	$ 0
Additions to the allowance for credit losses for which credit losses were not previously recorded	8
Reductions for securities sold during the period (realized)	0
Writeoffs charged against the allowance	0
Recoveries of amounts previously written off	0
Ending balance, September 30, 2020	$ 8

Summary of Investments (Investm

Summary of Investments (Investments in Unrealized Loss Position) (Details) $ in Thousands	Sep. 30, 2020USD ($)issue	Dec. 31, 2019USD ($)issue
Number of Issues
Less than 12 months | issue	31	24
12 months or longer | issue	9	27
Fair Value
Less than 12 months	$ 120,638	$ 107,540
12 months or longer	3,290	20,230
Total	123,928	127,770
Gross Unrealized Depreciation
Less than 12 months	1,113	557
12 months or longer	13	235
Total	$ 1,126	$ 792
U.S. Treasury
Number of Issues
Less than 12 months | issue	2	0
12 months or longer | issue	0	2
Fair Value
Less than 12 months	$ 11,804	$ 0
12 months or longer	0	4,733
Total	11,804	4,733
Gross Unrealized Depreciation
Less than 12 months	8	0
12 months or longer	0	12
Total	$ 8	$ 12
Foreign bonds
Number of Issues
Less than 12 months | issue	1
12 months or longer | issue	0
Fair Value
Less than 12 months	$ 2,776
12 months or longer	0
Total	2,776
Gross Unrealized Depreciation
Less than 12 months	230
12 months or longer	0
Total	$ 230
U.S. government agency
Number of Issues
Less than 12 months | issue		3
12 months or longer | issue		0
Fair Value
Less than 12 months		$ 13,846
12 months or longer		0
Total		13,846
Gross Unrealized Depreciation
Less than 12 months		104
12 months or longer		0
Total		$ 104
Corporate bonds | Consumer goods and services
Number of Issues
Less than 12 months | issue	1
12 months or longer | issue	0
Fair Value
Less than 12 months	$ 2,196
12 months or longer	0
Total	2,196
Gross Unrealized Depreciation
Less than 12 months	12
12 months or longer	0
Total	$ 12
Corporate bonds | Financial services
Number of Issues
Less than 12 months | issue	1	3
12 months or longer | issue	1	1
Fair Value
Less than 12 months	$ 2,998	$ 10,906
12 months or longer	3,000	4,913
Total	5,998	15,819
Gross Unrealized Depreciation
Less than 12 months	2	142
12 months or longer	9	88
Total	$ 11	$ 230
Mortgage-backed securities
Number of Issues
Less than 12 months | issue	2	0
12 months or longer | issue	6	13
Fair Value
Less than 12 months	$ 9,118	$ 0
12 months or longer	157	1,585
Total	9,275	1,585
Gross Unrealized Depreciation
Less than 12 months	107	0
12 months or longer	2	21
Total	$ 109	$ 21
Collateralized mortgage obligations | Federal home loan mortgage corporation
Number of Issues
Less than 12 months | issue	14	12
12 months or longer | issue	1	3
Fair Value
Less than 12 months	$ 48,062	$ 50,829
12 months or longer	57	4,844
Total	48,119	55,673
Gross Unrealized Depreciation
Less than 12 months	348	183
12 months or longer	1	37
Total	$ 349	$ 220
Collateralized mortgage obligations | Federal national mortgage association
Number of Issues
Less than 12 months | issue	10	4
12 months or longer | issue	0	3
Fair Value
Less than 12 months	$ 43,684	$ 23,515
12 months or longer	0	1,102
Total	43,684	24,617
Gross Unrealized Depreciation
Less than 12 months	406	90
12 months or longer	0	18
Total	$ 406	$ 108
Collateralized mortgage obligations | Government national mortgage association
Number of Issues
Less than 12 months | issue	0	2
12 months or longer | issue	1	5
Fair Value
Less than 12 months	$ 0	$ 8,444
12 months or longer	76	3,053
Total	76	11,497
Gross Unrealized Depreciation
Less than 12 months	0	38
12 months or longer	1	59
Total	$ 1	$ 97

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accrued interest excluded from carrying value	$ 167
Allowance for mortgage loan losses	76	$ 72
Rabbi Trust | Other Assets | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash surrender value	$ 7,670

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Carrying Value and Estimated Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fixed maturities:
Available-for-sale securities	$ 1,717,039	$ 1,719,607
Trading securities	14,811	15,256
Equity securities	198,791	299,203
Mortgage loans	47,733	42,448
Fair Value
Fixed maturities:
Available-for-sale securities	1,717,047	1,719,607
Trading securities	14,811	15,256
Equity securities	198,791	299,203
Mortgage loans	48,977	43,992
Other long-term investments	62,903	78,410
Short-term investments	175	175
Cash and cash equivalents	99,604	120,722
Corporate-owned life insurance	7,670	6,777
Carrying Value
Fixed maturities:
Available-for-sale securities	1,717,039	1,719,607
Trading securities	14,811	15,256
Equity securities	198,791	299,203
Mortgage loans	47,733	42,448
Other long-term investments	62,903	78,410
Short-term investments	175	175
Cash and cash equivalents	99,604	120,722
Corporate-owned life insurance	$ 7,670	$ 6,777

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Financial Instruments Measured at Fair Value) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 1,717,039	$ 1,719,607
Trading securities	14,811	15,256
Equity securities	198,791	299,203
U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		69,491
U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		100,202
Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		5,117
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		63,651
Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		6,356
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		750
Government national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		80,356
Federal home loan mortgage corporation | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		124,502
Federal national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		71,845
General obligations | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		88,594
General obligations | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		31,270
General obligations | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		115,203
General obligations | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		110,317
Special revenue | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		139,892
Special revenue | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		61,543
Special revenue | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		234,666
Special revenue | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		144,844
Energy | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		30,124
Industrials | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		54,015
Consumer goods and services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		49,466
Health care | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		9,480
Technology, media and telecommunications | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		27,670
Financial services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		100,253
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,717,047	1,719,607
Trading securities	14,811	15,256
Equity securities	198,791	299,203
Short-Term Investments	175	175
Money Market Accounts	54,590	9,334
Corporate-Owned Life Insurance	7,670	6,777
Total Assets Measured at Fair Value	1,993,084	2,050,352
Recurring | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	54,599	69,491
Recurring | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	64,960	100,202
Recurring | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	28,018	5,117
Recurring | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	84,302	63,651
Recurring | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	14,529	6,356
Recurring | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	935	750
Recurring | Redeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	5,049	4,087
Recurring | Nonredeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	6,641	6,674
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	5,049	4,087
Equity securities	198,196	298,608
Short-Term Investments	175	175
Money Market Accounts	54,590	9,334
Corporate-Owned Life Insurance	0	0
Total Assets Measured at Fair Value	258,010	312,204
Recurring | Level 1 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 1 | Redeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	5,049	4,087
Recurring | Level 1 | Nonredeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	6,046	6,079
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,715,862	1,718,607
Trading securities	9,762	11,169
Equity securities	0	0
Short-Term Investments	0	0
Money Market Accounts	0	0
Corporate-Owned Life Insurance	7,670	6,777
Total Assets Measured at Fair Value	1,733,294	1,736,553
Recurring | Level 2 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	54,599	69,491
Recurring | Level 2 | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	64,960	100,202
Recurring | Level 2 | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	28,018	5,117
Recurring | Level 2 | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	84,302	63,651
Recurring | Level 2 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	14,529	6,356
Recurring | Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 2 | Redeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Recurring | Level 2 | Nonredeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,185	1,000
Trading securities	0	0
Equity securities	595	595
Short-Term Investments	0	0
Money Market Accounts	0	0
Corporate-Owned Life Insurance	0	0
Total Assets Measured at Fair Value	1,780	1,595
Recurring | Level 3 | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | U.S. government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Foreign bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	935	750
Recurring | Level 3 | Redeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Recurring | Level 3 | Nonredeemable preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	595	595
Recurring | Government national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	77,197	80,356
Recurring | Government national mortgage association | Level 1 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Government national mortgage association | Level 2 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	77,197	80,356
Recurring | Government national mortgage association | Level 3 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal home loan mortgage corporation | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	121,676	124,502
Recurring | Federal home loan mortgage corporation | Level 1 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal home loan mortgage corporation | Level 2 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	121,676	124,502
Recurring | Federal home loan mortgage corporation | Level 3 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal national mortgage association | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	85,449	71,845
Recurring | Federal national mortgage association | Level 1 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Federal national mortgage association | Level 2 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	85,449	71,845
Recurring | Federal national mortgage association | Level 3 | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	83,978	88,594
Recurring | General obligations | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	30,550	31,270
Recurring | General obligations | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	110,585	115,203
Recurring | General obligations | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	109,947	110,317
Recurring | General obligations | Level 1 | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | Level 1 | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | Level 1 | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | Level 1 | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | Level 2 | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	83,978	88,594
Recurring | General obligations | Level 2 | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	30,550	31,270
Recurring | General obligations | Level 2 | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	110,585	115,203
Recurring | General obligations | Level 2 | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	109,947	110,317
Recurring | General obligations | Level 3 | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | Level 3 | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | Level 3 | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | General obligations | Level 3 | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	134,841	139,892
Recurring | Special revenue | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	62,844	61,543
Recurring | Special revenue | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	238,350	234,666
Recurring | Special revenue | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	143,102	144,844
Recurring | Special revenue | Level 1 | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | Level 1 | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | Level 1 | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | Level 1 | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | Level 2 | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	134,841	139,892
Recurring | Special revenue | Level 2 | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	62,844	61,543
Recurring | Special revenue | Level 2 | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	238,350	234,666
Recurring | Special revenue | Level 2 | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	143,102	144,844
Recurring | Special revenue | Level 3 | States, municipalities and political subdivisions | Midwest
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | Level 3 | States, municipalities and political subdivisions | Northeast
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | Level 3 | States, municipalities and political subdivisions | South
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Special revenue | Level 3 | States, municipalities and political subdivisions | West
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	16,344	16,295
Recurring | Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	16,344	16,295
Recurring | Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Energy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	8,833	14,639
Recurring | Energy | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	27,501	30,124
Recurring | Energy | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	8,833	14,639
Recurring | Energy | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Energy | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Energy | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	27,501	30,124
Recurring | Energy | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Energy | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring | Industrials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	30,935	57,330
Recurring | Industrials | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	43,057	54,015
Trading securities	2,004
Recurring | Industrials | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	30,935	57,330
Recurring | Industrials | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	0
Recurring | Industrials | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Industrials | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	43,057	54,015
Trading securities	2,004
Recurring | Industrials | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Industrials | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	0
Recurring | Consumer goods and services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	31,432	29,935
Recurring | Consumer goods and services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	49,028	49,466
Trading securities	1,171	2,276
Recurring | Consumer goods and services | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	31,432	29,935
Recurring | Consumer goods and services | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	0	0
Recurring | Consumer goods and services | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Consumer goods and services | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	49,028	49,466
Trading securities	1,171	2,276
Recurring | Consumer goods and services | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Consumer goods and services | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	0	0
Recurring | Health care
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	24,646	27,285
Recurring | Health care | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	7,569	9,480
Trading securities	4,965	4,701
Recurring | Health care | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	24,646	27,285
Recurring | Health care | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	0	0
Recurring | Health care | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Health care | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	7,569	9,480
Trading securities	4,965	4,701
Recurring | Health care | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Health care | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	0	0
Recurring | Technology, media and telecommunications
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	16,003	19,265
Recurring | Technology, media and telecommunications | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	41,571	27,670
Trading securities		1,732
Recurring | Technology, media and telecommunications | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	16,003	19,265
Recurring | Technology, media and telecommunications | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities		0
Recurring | Technology, media and telecommunications | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Technology, media and telecommunications | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	41,571	27,670
Trading securities		1,732
Recurring | Technology, media and telecommunications | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Technology, media and telecommunications | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities		0
Recurring | Financial services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	63,957	127,780
Recurring | Financial services | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	102,459	100,253
Trading securities	1,622	2,460
Recurring | Financial services | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	63,957	127,780
Recurring | Financial services | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Trading securities	0	0
Recurring | Financial services | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Financial services | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	102,209	100,003
Trading securities	1,622	2,460
Recurring | Financial services | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Recurring | Financial services | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	250	250
Trading securities	$ 0	$ 0

Fair Value of Financial Instr_6

Fair Value of Financial Instruments (Quantitative Information About Level 3 Fair Value Measurements) (Details) $ in Thousands	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 1,717,039	$ 1,719,607
Nonredeemable preferred stocks	198,791	299,203
Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities		750
Financial services | Corporate bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities		100,253
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	1,717,047	1,719,607
Nonredeemable preferred stocks	198,791	299,203
Recurring | Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	935	750
Recurring | Nonredeemable preferred stocks
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Nonredeemable preferred stocks	6,641	6,674
Recurring | Financial services
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Nonredeemable preferred stocks	63,957	127,780
Recurring | Financial services | Corporate bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	102,459	100,253
Recurring | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	1,185	1,000
Nonredeemable preferred stocks	595	595
Recurring | Level 3 | Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 935	750
Recurring | Level 3 | Asset-backed securities | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.04
Recurring | Level 3 | Asset-backed securities | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities, range of weighted average significant unobservable inputs	0.06
Recurring | Level 3 | Nonredeemable preferred stocks
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Nonredeemable preferred stocks	$ 595	595
Recurring | Level 3 | Nonredeemable preferred stocks | Discounted cash flow | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Nonredeemable preferred stocks, range of weighted average significant unobservable inputs	0.03
Recurring | Level 3 | Nonredeemable preferred stocks | Discounted cash flow | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Nonredeemable preferred stocks, range of weighted average significant unobservable inputs	0.04
Recurring | Level 3 | Financial services
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Nonredeemable preferred stocks	$ 0	0
Recurring | Level 3 | Financial services | Corporate bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale securities	$ 250	$ 250

Fair Value of Financial Instr_7

Fair Value of Financial Instruments (Level 3 Securities) (Details) - Recurring - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,772	$ 1,595
Net unrealized gains	8	185
Ending balance	1,780	1,780
Corporate bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	250	250
Net unrealized gains	0	0
Ending balance	250	250
Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	927	750
Net unrealized gains	8	185
Ending balance	935	935
Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	595	595
Net unrealized gains	0	0
Ending balance	$ 595	$ 595

Fair Value of Financial Instr_8

Fair Value of Financial Instruments (Carrying Value of Commercial Mortgage Loans and Additional Information) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost	$ 47,809	$ 42,520
Allowance for mortgage loan losses	(76)	(72)
Mortgage loans, net	47,733	42,448
Total mortgage loans | Mortgage Loans by Region
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 47,809	$ 42,520
Percent of Total	100.00%	100.00%
Total mortgage loans | Mortgage Loans by Region | East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 3,245	$ 3,245
Percent of Total	6.80%	7.60%
Total mortgage loans | Mortgage Loans by Region | Southern Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 9,794	$ 7,026
Percent of Total	20.50%	16.50%
Total mortgage loans | Mortgage Loans by Region | East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 8,238	$ 8,358
Percent of Total	17.20%	19.70%
Total mortgage loans | Mortgage Loans by Region | New England
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 6,588	$ 6,588
Percent of Total	13.80%	15.50%
Total mortgage loans | Mortgage Loans by Region | Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 14,971	$ 15,076
Percent of Total	31.30%	35.50%
Total mortgage loans | Mortgage Loans by Region | Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 2,227	$ 2,227
Percent of Total	4.60%	5.20%
Total mortgage loans | Mortgage Loans by Region | West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 2,746	$ 0
Percent of Total	5.80%	0.00%
Total mortgage loans | Mortgage Loans by Property Type
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 47,809	$ 42,520
Percent of Total	100.00%	100.00%
Total mortgage loans | Mortgage Loans by Property Type | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 17,051	$ 11,741
Percent of Total	35.60%	27.60%
Total mortgage loans | Mortgage Loans by Property Type | Office
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 11,932	$ 11,848
Percent of Total	25.00%	27.90%
Total mortgage loans | Mortgage Loans by Property Type | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 10,124	$ 10,124
Percent of Total	21.20%	23.80%
Total mortgage loans | Mortgage Loans by Property Type | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 2,227	$ 2,227
Percent of Total	4.70%	5.20%
Total mortgage loans | Mortgage Loans by Property Type | Mixed use/Other
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage loans, net	$ 6,475	$ 6,580
Percent of Total	13.50%	15.50%
Less than 65%
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost	$ 30,467	$ 34,024
65%-75%
Financing Receivable, Credit Quality Indicator [Line Items]
Total amortized cost	$ 17,342	$ 8,496

Fair Value of Financial Instr_9

Fair Value of Financial Instruments (Amortized Cost Basis by Year of Origination and Credit Quality Indicator) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 5,551
2019	16,900
2018	25,358
Total	47,809	$ 42,520
Current-period write-offs	0
Current-period recoveries	0
Current-period net write-offs	0
1-2 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2020	5,551
2019	8,404
2018	18,770
Total	32,725
3-4 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	8,496
2018	6,588
Total	15,084
5 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
Total	0
6 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
Total	0
7 internal grade
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
Total	$ 0

Fair Value of Financial Inst_10

Fair Value of Financial Instruments (Rollforward of Allowance for Mortgage Loan Losses) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Rollforward of allowance for mortgage loan losses:
Beginning balance	$ 72
Current-period provision for expected credit losses	4
Write-off charged against the allowance, if any	0
Recoveries of amounts previously written off, if any	0
Ending balance of the allowance for mortgage loan losses	$ 76

Reserves for Losses and Loss _3

Reserves for Losses and Loss Settlement Expenses (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross liability for losses and loss settlement expenses at beginning of year	$ 1,421,754	$ 1,312,483
Ceded losses and loss settlement expenses	(68,536)	(57,094)
Net liability for losses and loss settlement expenses at beginning of year	1,353,218	1,255,389
Losses and loss settlement expenses incurred for claims occurring during
Current year	656,207	835,507
Prior years	(30,038)	(5,335)
Total incurred	626,169	830,172
Losses and loss settlement expense payments for claims occurring during
Current year	263,898	333,975
Prior years	330,190	398,368
Total paid	594,088	732,343
Net liability for losses and loss settlement expenses at end of year	1,385,299	1,353,218
Ceded loss and loss settlement expenses	169,784	68,536
Gross liability for losses and loss settlement expenses at end of period	$ 1,555,083	$ 1,421,754

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Pension Plan
Net periodic benefit cost
Service cost	$ 2,707	$ 1,997	$ 8,122	$ 5,991
Interest cost	2,066	2,080	6,199	6,240
Expected return on plan assets	(3,385)	(2,696)	(10,154)	(8,088)
Amortization of prior service credit	0	0	0	0
Amortization of net loss	979	901	2,936	2,703
Net periodic benefit cost	2,367	2,282	7,103	6,846
Postretirement Benefit Plan
Net periodic benefit cost
Service cost	432	456	1,296	1,368
Interest cost	253	319	760	956
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	(2,021)	(2,221)	(6,063)	(6,463)
Amortization of net loss	94	224	282	671
Net periodic benefit cost	$ (1,242)	$ (1,222)	(3,725)	$ (3,468)
Estimated 2020 pension plan contribution, disclosed in prior year 10K					$ 10,000
Contribution by employer			$ 10,000

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

9 Months Ended

141 Months Ended

189 Months Ended

May 31, 2014

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2020

May 20, 2020

May 19, 2020

Dec. 31, 2019

Dec. 31, 2008

Dec. 31, 2004

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation expense

$ 1,052

$ 1,203

$ 3,979

$ 5,248

Stock-based compensation expense to be recognized through results of operations

$ 5,004

$ 5,004

$ 5,004

$ 5,004

Employee Stock Award Plan-2008

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares available for issuance (in shares)

704,760

704,760

704,760

704,760

834,910

1,900,000

Additional shares authorized (in shares)

1,500,000

0

1,500,000

Employee Stock Award Plan-2008 | Options Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expiration period

10 years

Employee Stock Award Plan-2008 | Share-based Compensation Award, Tranche One

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rights percentage

20.00%

Employee Stock Award Plan-2008 | Share-based Compensation Award, Tranche One | Restricted Stock Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

3 years

Employee Stock Award Plan-2008 | Share-based Compensation Award, Tranche Two

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting rights percentage

33.30%

Employee Stock Award Plan-2008 | Share-based Compensation Award, Tranche Two | Restricted Stock Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

5 years

Director Plan - 2005

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares available for issuance (in shares)

160,135

160,135

160,135

160,135

450,000

300,000

34,863

300,000

Additional shares authorized (in shares)

150,000

150,000

Stock-Based Compensation (Activ

Stock-Based Compensation (Activity in the Stock Plan) (Details) - shares	1 Months Ended	9 Months Ended	141 Months Ended	189 Months Ended
	May 31, 2014	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2020
Employee Stock Award Plan-2008
Authorized Shares Available for Future Award Grants
Beginning balance (in shares)		834,910	1,900,000
Additional shares authorized (in shares)	1,500,000	0	1,500,000
Number of awards granted (in shares)		(165,024)	(3,281,445)
Number of awards forfeited or expired (in shares)		34,874	586,205
Ending balance (in shares)		704,760	704,760	704,760
Employee Stock Award Plan-2008 | Options Awards
Authorized Shares Available for Future Award Grants
Number of option awards exercised (in shares)		7,200	1,450,389
Employee Stock Award Plan-2008 | Unrestricted Stock Awards
Authorized Shares Available for Future Award Grants
Number of awards granted (in shares)		0	(10,090)
Employee Stock Award Plan-2008 | Restricted Stock Awards
Authorized Shares Available for Future Award Grants
Number of restricted stock awards vested (in shares)		63,600	164,378
Director Plan - 2005
Authorized Shares Available for Future Award Grants
Beginning balance (in shares)		34,863		300,000
Additional shares authorized (in shares)		150,000		150,000
Number of awards granted (in shares)		(24,728)		(313,868)
Number of awards forfeited or expired (in shares)		0		24,003
Ending balance (in shares)		160,135	160,135	160,135
Director Plan - 2005 | Options Awards
Authorized Shares Available for Future Award Grants
Number of option awards exercised (in shares)		14,183		133,275
Director Plan - 2005 | Restricted Stock Awards
Authorized Shares Available for Future Award Grants
Number of restricted stock awards vested (in shares)		14,300		98,491

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock-based Compensation Expense) (Details) $ in Thousands	Sep. 30, 2020USD ($)
Share-based Payment Arrangement [Abstract]
2020	$ 1,060
2021	2,584
2022	1,056
2023	211
2024	82
2025	11
Total	$ 5,004

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic and Diluted Earnings per Share [Line Items]
Net income (loss)	$ (37,241)	$ (2,342)	$ (103,815)	$ 37,983
Weighted-average common shares outstanding, basic (in shares)	25,031,234	25,176,334	25,023,401	25,172,716
Weighted-average common shares outstanding, diluted (in shares)	25,031,234	25,176,334	25,023,401	25,643,744
Earnings (loss) per common share, basic (in dollars per share)	$ (1.49)	$ (0.09)	$ (4.15)	$ 1.51
Earnings (loss) per common share, diluted (in dollars per share)	$ (1.49)	$ (0.09)	$ (4.15)	$ 1.48
Awards excluded from diluted earnings per share calculation (in shares)	820,124	63,897	515,984	63,897
Restricted Stock Unit Awards
Basic and Diluted Earnings per Share [Line Items]
Add dilutive effect of share-based awards outstanding (in shares)	0	0	0	249,605
Stock Options
Basic and Diluted Earnings per Share [Line Items]
Add dilutive effect of share-based awards outstanding (in shares)	0	0	0	221,423

Credit Facility (Details)

Credit Facility (Details) - USD ($)	Feb. 02, 2016	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Line of Credit Facility [Line Items]
Outstanding balance on credit facility		$ 0	$ 0
Interest expense incurred		$ 0	$ 0
New Credit Agreement
Line of Credit Facility [Line Items]
Option to increase, maximum amount				$ 100,000,000
New Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				50,000,000
New Credit Agreement | Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				20,000,000
New Credit Agreement | Swing Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 5,000,000
Previous Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000
Previous Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 50,000,000
Credit agreement term	4 years
Previous Credit Agreement | Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 20,000,000
Previous Credit Agreement | Swing Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 5,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning	$ 860,667	$ 910,472
Change in accumulated other comprehensive income before reclassifications	3,252	35,223
Reclassification adjustments from accumulated other comprehensive income (loss)	805	2,532
Balance, ending	820,282	820,282
Net unrealized appreciation on investments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning	79,283	47,279
Change in accumulated other comprehensive income before reclassifications	3,252	35,223
Reclassification adjustments from accumulated other comprehensive income (loss)	(43)	(10)
Balance, ending	82,492	82,492
Liability for underfunded employee benefit costs
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning	(32,433)	(34,127)
Change in accumulated other comprehensive income before reclassifications	0	0
Reclassification adjustments from accumulated other comprehensive income (loss)	848	2,542
Balance, ending	(31,585)	(31,585)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning	46,850	13,152
Balance, ending	$ 50,907	$ 50,907

Leases (Narrative) (Details)

Leases (Narrative) (Details)	Sep. 30, 2020
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Lease extension option terms	6 months
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	7 years
Lease extension option terms	5 years

Leases (Lease Costs) (Details)

Leases (Lease Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Components of lease expense:
Operating lease expense	$ 1,832	$ 1,910	$ 5,788	$ 5,730
Less sublease income	53	119	239	371
Net lease expense	1,779	1,791	5,549	5,359
Cash flows information related to leases:
Operating cash outflow from operating leases	$ 1,796	$ 1,812	$ 5,265	$ 5,420