First Acceptance (FACO) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 08, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	FAC
Entity Registrant Name	FIRST ACCEPTANCE CORP /DE/
Entity Central Index Key	1,017,907
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		41,160,011

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Investments, available-for-sale at fair value (amortized cost of $117,619 and $117,902, respectively)	$ 117,431	$ 117,212
Cash, cash equivalents, and restricted cash	120,496	118,681
Premiums, fees, and commissions receivable, net of allowance of $309 and $279, respectively	90,251	66,393
Deferred tax assets, net	34,761	35,641
Other investments	10,140	9,994
Other assets	5,944	6,078
Property and equipment, net	3,789	4,213
Deferred acquisition costs	5,869	4,852
Goodwill	29,384	29,384
Identifiable intangible assets, net	7,433	7,626
TOTAL ASSETS	425,498	400,074
LIABILITIES AND STOCKHOLDERS’ EQUITY
Loss and loss adjustment expense reserves	156,410	161,079
Unearned premiums and fees	106,877	78,861
Debentures payable	40,313	40,302
Term loan from principal stockholder	29,786	29,779
Accrued expenses	5,566	7,089
Other liabilities	12,851	10,476
Total liabilities	351,803	327,586
Stockholders’ equity:
Preferred stock, $.01 par value, 10,000 shares authorized
Common stock, $.01 par value, 75,000 shares authorized; 41,160 issued and outstanding	412	412
Additional paid-in capital	457,789	457,750
Accumulated other comprehensive income, net of tax of $(873) and $(1,110), respectively	1,754	1,316
Accumulated deficit	(386,260)	(386,990)
Total stockholders’ equity	73,695	72,488
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 425,498	$ 400,074

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Amortized cost of investments	$ 117,619	$ 117,902
Allowance for premiums, fees and Commission receivable	$ 309	$ 279
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	41,160,000	41,160,000
Common stock, shares outstanding	41,160,000	41,160,000
Accumulated Other Comprehensive Income, tax	$ (873)	$ (1,110)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Premiums earned	$ 69,813	$ 76,407
Commission and fee income	17,228	19,581
Investment income	1,033	962
Net realized losses on investments, available-for-sale	(5)	(2)
Total revenues	88,069	96,948
Costs and expenses:
Losses and loss adjustment expenses	56,280	73,419
Insurance operating expenses	28,056	29,647
Other operating expenses	271	280
Stock-based compensation	39	37
Depreciation	546	651
Amortization of identifiable intangibles assets	203	238
Interest expense	1,098	1,050
Total costs and expenses	86,493	105,322
Income (loss) before income taxes	1,576	(8,374)
Provision (benefit) for income taxes	846	(2,869)
Net income (loss)	$ 730	$ (5,505)
Net income (loss) per share:
Basic	$ 0.02	$ (0.13)
Diluted	$ 0.02	$ (0.13)
Number of shares used to calculate net income (loss) per share:
Basic	41,160	41,060
Diluted	41,181	41,060
Reconciliation of net income (loss) to other comprehensive income (loss):
Net income (loss)	$ 730	$ (5,505)
Net unrealized change in investments, net of tax of $236 and $911, respectively	438	1,691
Comprehensive income (loss)	$ 1,168	$ (3,814)

CONSOLIDATED STATEMENTS OF COM5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Net unrealized change in investments, tax	$ 236	$ 911

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ 730	$ (5,505)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation	546	651
Amortization of identifiable intangibles assets	203	238
Stock-based compensation	39	37
Deferred income taxes	644	(2,968)
Net realized losses on redemptions of investments	5	2
Investment (income) loss from other investments	(149)	170
Other	139	33
Change in:
Premiums, fees, and commission receivable	(23,888)	(23,197)
Deferred acquisition costs	(1,017)	(993)
Loss and loss adjustment expense reserves	(4,669)	10,579
Unearned premiums and fees	28,016	26,331
Other liabilities	2,375	4,249
Other	(1,370)	892
Net cash provided by operating activities	1,604	10,519
Cash flows from investing activities:
Purchases of investments, available-for-sale	(505)
Maturities and redemptions of investments, available-for-sale	670	3,206
Purchases of other investments	(78)	(207)
Distributions from other investments	256	1,007
Capital expenditures	(122)	(1,206)
Acquisition of identifiable intangible assets	(10)
Net cash provided by investing activities	211	2,800
Net change in cash, cash equivalents, and restricted cash	1,815	13,319
Cash, cash equivalents, and restricted cash, beginning of period	118,681	115,587
Cash, cash equivalents, and restricted cash, end of period	$ 120,496	$ 128,906

General

General	3 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
General	1. General The consolidated financial statements of First Acceptance Corporation (the “Company”) included herein have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted. In the opinion of management, the consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the interim periods. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2016. Cash, Cash Equivalents, and Restricted Cash Cash, cash equivalents, and restricted cash consist of bank demand deposits and highly-liquid investments. All investments with maturities of three months or less at the date of purchase are considered cash equivalents. At March 31, 2017 and December 31, 2016 the Company had restricted cash equivalents of $17.3 million and $18.6 million, respectively.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value	2. Fair Value Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are generally based upon observable and unobservable inputs. Observable inputs are based on market data from independent sources, while unobservable inputs reflect the Company’s view of market assumptions in the absence of observable market information. All assets and liabilities that are carried at fair value are classified and disclosed in one of the following categories: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Quoted market prices for similar assets or liabilities in active markets; quoted prices by independent pricing services for identical or similar assets or liabilities in markets that are not active; and valuations, using models or other valuation techniques, that use observable market data. All significant inputs are observable, or derived from observable information in the marketplace, or are supported by observable levels at which transactions are executed in the marketplace. Level 3 - Instruments that use non-binding broker quotes or model driven valuations that do not have observable market data. NAV - Calculated net asset value (“NAV”) based on an ownership interest to which a proportionate share of net assets is attributed. The Company considers the valuation methods used in both its identifiable intangible assets initial measurement and impairment tests as Level 3. To determine the fair value of acquired trademarks and trade names, the Company uses the relief-from-royalty method, which requires the Company to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital. To determine the fair value of the acquired policy renewal rights and customer relationships, the Company uses an “excess earnings” method that relies on projected future net cash flows and includes key assumptions for the customer retention and renewal rates. The data used in these methods is not observable in the market. Fair Value of Financial Instruments The carrying values and fair values of certain financial instruments were as follows (in thousands). March 31, 2017 December 31, 2016 Carrying Fair Carrying Fair Value Value Value Value Assets: Investments, available-for-sale $ 117,431 $ 117,431 $ 117,212 $ 117,212 Other investments 10,140 10,140 9,994 9,994 Liabilities: Debentures payable 40,313 13,443 40,302 11,488 Term loan from principal stockholder 29,786 17,210 29,779 15,000 The fair values as presented represent the Company’s best estimates and may not be substantiated by comparisons to independent markets. The fair value of the debentures payable and the term loan from principal shareholder are categorized as Level 3, since they were based on current market rates offered for debt with similar risks and maturities, an unobservable input categorized as Level 3. Carrying values of certain financial instruments, such as cash and cash equivalents and premiums, fees, and commissions receivable, approximate fair value due to the short-term nature of the instruments and are not required to be disclosed. Therefore, the aggregate of the fair values presented in the preceding table does not purport to represent the Company’s underlying value. The following tables present the fair-value measurements for each major category of assets that are measured on a recurring basis (in thousands). Other investments are carried at net asset value which approximates fair value. Fair Value Measurements Using Quoted Prices Significant in Active Other Significant Proportionate Markets for Observable Unobservable Share of Identical Assets Inputs Inputs Net Assets March 31, 2017 Total (Level 1) (Level 2) (Level 3) (NAV) Fixed maturities, available-for-sale: U.S. government and agencies $ 19,469 $ 19,469 $ — $ — $ — Political subdivisions 4,189 — 4,189 — — Revenue and assessment 5,590 — 5,590 — — Corporate bonds 45,650 — 45,650 — — Collateralized mortgage obligations: Agency backed 21,998 — 21,998 — — Non-agency backed – residential 2,845 — 2,845 — — Non-agency backed – commercial 1,843 — 1,843 — — Total fixed maturities, available-for-sale 101,584 19,469 82,115 — — Preferred stocks, available-for-sale 3,153 3,153 — — — Mutual funds, available-for-sale 12,694 12,694 — — — Total investments, available-for-sale 117,431 35,316 82,115 — — Other investments 10,140 — — 5,110 5,030 Cash, cash equivalents, and restricted cash 120,496 120,496 — — — Total $ 248,067 $ 155,812 $ 82,115 $ 5,110 $ 5,030 Fair Value Measurements Using Quoted Prices Significant in Active Other Significant Proportionate Markets for Observable Unobservable Share of Identical Assets Inputs Inputs Net Assets December 31, 2016 Total (Level 1) (Level 2) (Level 3) (NAV) Fixed maturities, available-for-sale: U.S. government and agencies $ 18,951 $ 18,951 $ — $ — $ — Political subdivisions 4,165 — 4,165 — — Revenue and assessment 5,683 — 5,683 — — Corporate bonds 45,540 — 45,540 — — Collateralized mortgage obligations: Agency backed 22,422 — 22,422 — — Non-agency backed – residential 2,933 — 2,933 — — Non-agency backed – commercial 1,895 — 1,895 — — Total fixed maturities, available-for-sale 101,589 18,951 82,638 — — Preferred stocks, available-for-sale 3,112 3,112 — — — Mutual funds, available-for-sale 12,511 12,511 — — — Total investments, available-for-sale 117,212 34,574 82,638 — — Other investment 9,994 — — 4,858 5,136 Cash, cash equivalents, and restricted cash 118,681 118,681 — — — Total $ 245,887 $ 153,255 $ 82,638 $ 4,858 $ 5,136 The fair values of the Company’s investments are determined by management after taking into consideration available sources of data. All of the portfolio valuations classified as Level 1 or Level 2 in the above tables are priced exclusively by utilizing the services of independent pricing sources using observable market data. The Level 2 classified security valuations are obtained from a single independent pricing service. The Level 3 classified security in the table above consists of an investment in the common stock of a real estate investment trust for which fair value has been determined using a model driven valuation that does not have observable market data. There were no transfers between Level 1 and Level 2 for the three months ended March 31, 2017 and 2016. The Company’s policy is to recognize transfers between levels at the end of the reporting period based on specific identification. The Company has not made any adjustments to the prices obtained from the independent pricing sources. The Company has reviewed the pricing techniques and methodologies of the independent pricing service for Level 2 investments and believes that its policies adequately consider market activity, either based on specific transactions for the security valued or based on modeling of securities with similar credit quality, duration, yield and structure that were recently traded. The Company monitored security-specific valuation trends and has made inquiries with the pricing service about material changes or the absence of expected changes to understand the underlying factors and inputs and to validate the reasonableness of the pricing. Likewise, the Company reviews the Level 3 valuation model to understand the underlying factors and inputs and to validate the reasonableness of the pricing. The following table represents the quantitative disclosure for the asset classified as Level 3 during the three months ended March 31, 2017 (in thousands). Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Common Stock at Fair Value Balance at December 31, 2016 $ 4,858 Gains included in net loss — Gains included in comprehensive income (loss) 174 Investments and capital calls 78 Distributions received — Transfers into and out of Level 3 — Balance at March 31, 2017 $ 5,110

Investments

Investments	3 Months Ended
	Mar. 31, 2017
Investments Debt And Equity Securities [Abstract]
Investments	3. Investments Investments, Available-for-Sale The following tables summarize the Company’s investment securities (in thousands). Gross Gross Amortized Unrealized Unrealized Fair March 31, 2017 Cost Gains Losses Value U.S. government and agencies $ 19,639 $ 106 $ (276) $ 19,469 Political subdivisions 4,203 — (14) 4,189 Revenue and assessment 5,436 186 (32) 5,590 Corporate bonds 47,189 81 (1,620) 45,650 Collateralized mortgage obligations: Agency backed 22,666 72 (740) 21,998 Non-agency backed – residential 2,309 543 (7) 2,845 Non-agency backed – commercial 1,339 504 — 1,843 Total fixed maturities, available-for-sale 102,781 1,492 (2,689) 101,584 Preferred stocks, available-for-sale 3,025 220 (92) 3,153 Mutual funds, available-for-sale 11,813 881 — 12,694 $ 117,619 $ 2,593 $ (2,781) $ 117,431 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2016 Cost Gains Losses Value U.S. government and agencies $ 19,142 $ 112 $ (303 ) $ 18,951 Political subdivisions 4,233 — (68 ) 4,165 Revenue and assessment 5,539 185 (41 ) 5,683 Corporate bonds 47,238 107 (1,805 ) 45,540 Collateralized mortgage obligations: Agency backed 23,093 73 (744 ) 22,422 Non-agency backed – residential 2,411 529 (7 ) 2,933 Non-agency backed – commercial 1,408 487 — 1,895 Total fixed maturities, available-for-sale 103,064 1,493 (2,968 ) 101,589 Preferred stocks, available-for-sale 3,025 198 (111 ) 3,112 Mutual funds, available-for-sale 11,813 698 — 12,511 $ 117,902 $ 2,389 $ (3,079 ) $ 117,212 The following table sets forth the scheduled maturities of the Company’s fixed maturity securities based on their fair values (in thousands). Actual maturities may differ from contractual maturities because certain securities may be called or prepaid by the issuers. Securities Securities Securities with No All with with Unrealized Fixed Unrealized Unrealized Gains or Maturity March 31, 2017 Gains Losses Losses Securities One year or less $ 2,701 $ 6,574 $ — $ 9,275 After one through five years 7,059 23,556 30,615 After five through ten years — 33,254 — 33,254 After ten years 1,754 — — 1,754 No single maturity date 5,046 21,640 — 26,686 $ 16,560 $ 85,024 $ — $ 101,584 The following table reflects the number of fixed maturity securities with gross unrealized gains and losses. Gross unrealized losses are further segregated by the length of time that individual securities have been in a continuous unrealized loss position. Gross Unrealized Losses Less than Greater Gross or equal to than 12 Unrealized At: 12 months months Gains March 31, 2017 37 1 38 December 31, 2016 37 — 40 The following table reflects the fair value and gross unrealized losses of those fixed maturity securities in a continuous unrealized loss position for greater than 12 months at March 31, 2017. There were no securities meeting these criteria at December 31, 2016. Gross unrealized losses are further segregated by the percentage of amortized cost (in thousands, except number of securities). Number Gross Gross Unrealized Losses of Fair Unrealized at March 31, 2017: Securities Value Losses Less than or equal to 10% 1 $ 106 $ (6 ) Greater than 10% — — — 1 $ 106 $ (6 ) The following tables set forth the amount of gross unrealized losses by current severity (as compared to amortized cost) and length of time that individual securities have been in a continuous unrealized loss position (in thousands). Fair Value of Securities with Length of Gross Gross Severity of Gross Unrealized Losses Gross Unrealized Losses Unrealized Unrealized Less 5% to Greater at March 31, 2017: Losses Losses than 5% 10% than 10% Less than or equal to: Three months $ 5,394 $ (7 ) $ (7 ) $ — $ — Six months 55,253 (1,708 ) (1,427 ) (281 ) — Nine months 25,206 (1,060 ) (204 ) (856 ) — Twelve months — — — — — Greater than twelve months 106 (6 ) (6 ) — — Total $ 85,959 $ (2,781 ) $ (1,644 ) $ (1,137 ) $ — Fair Value of Securities with Length of Gross Gross Severity of Gross Unrealized Losses Gross Unrealized Losses Unrealized Unrealized Less 5% to Greater at December 31, 2016: Losses Losses than 5% 10% than 10% Less than or equal to: Three months $ 58,550 $ (1,886 ) $ (1,461 ) $ (425 ) $ — Six months 27,193 (1,186 ) (232 ) (954 ) — Nine months 152 — — — Twelve months 105 (7 ) — (7 ) — Greater than twelve months — — — — — Total $ 86,000 $ (3,079 ) $ (1,693 ) $ (1,386 ) $ - Other-Than-Temporary Impairment For the three months ended March 31, 2017, the Company did not recognize any OTTI charges in net income (loss). The Company believes that the securities having unrealized losses at March 31, 2017 were not other-than-temporarily impaired. The Company also does not intend to sell any of these securities and it is more likely than not that the Company will not be required to sell any of these securities before the recovery of their amortized cost basis. Other Investments Other investments consist of the common stock of a real estate investment trust and limited partnership interests in two funds that invest in (i) commercial real estate and secured commercial real estate loans acquired from financial intuitions and (ii) undervalued international publicly-traded equities. These investments have redemption and transfer restrictions. The Company does not intend to sell these investments, and it is more likely than not that the Company will not be required to sell them before the expiration of such restrictions. Restrictions At March 31, 2017, fixed maturities and cash equivalents with a fair value and amortized cost of $6.3 million were on deposit with various insurance departments as a requirement of doing business in those states. Cash equivalents with a fair value and amortized cost of $17.1 million were on deposit with another insurance company as collateral for an assumed reinsurance contract. Investment Income and Net Realized Gains and Losses The major categories of investment income follow (in thousands). Three Months Ended March 31, 2017 2016 Fixed maturities, available-for-sale $ 623 $ 970 Mutual funds, available-for-sale 162 206 Preferred stocks 45 24 Other investments 149 (170 ) Cash and cash equivalents 159 40 Other 14 14 Investment expenses (119 ) (122 ) $ 1,033 $ 962 The components of net realized gains (losses) on investments, available-for-sale at fair value follow (in thousands). Three Months Ended March 31, 2017 2016 Gains $ — $ — Losses (5 ) (2 ) $ (5 ) $ (2 ) Realized gains and losses on sales and redemptions are computed based on specific identification. The non-credit related portion of other-than-temporary impairment (“OTTI”) is included in other comprehensive loss. The amounts of non-credit OTTI for securities still owned was $1.1 million at both March 31, 2017 and December 31, 2016.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	4. Net Income (Loss) Per Share The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data). Three Months Ended March 31, 2017 2016 Net income (loss) $ 730 $ (5,505 ) Weighted average common basic shares 41,160 41,060 Effect of dilutive securities 21 — Weighted average common dilutive shares 41,181 41,060 Basic and diluted net income (loss) per share $ 0.02 $ (0.13 ) For the three months ended March 31, 2017, the computation of diluted net income per share included 76 thousand restricted stock units having a dilutive effect of 21 thousand shares. Options to purchase 120 thousand shares and 93 thousand restricted stock units were not included in the computation of diluted net income per share for the three months ended March 31, 2017, since the exercise price of the stock options was in excess of the average stock price for this period and the inclusion of the restricted stock units would have been anti-dilutive. For the three months ended March 31, 2016, the computation of diluted net loss per share did not include options to purchase 825 thousand shares and 257 thousand restricted stock units, a dilutive effect of 276 thousand shares, since their inclusion would have been anti-dilutive. Options to purchase 260 thousand shares were not included in the computation of diluted net loss per share for the three months ended March 31, 2016, since their exercise price was in excess of the average stock price for this period.

Losses and Loss Adjustment Expe

Losses and Loss Adjustment Expenses Incurred and Paid	3 Months Ended
	Mar. 31, 2017
Insurance [Abstract]
Losses and Loss Adjustment Expenses Incurred and Paid	5. Losses and Loss Adjustment Expenses Incurred and Paid Information regarding the reserve for unpaid losses and loss adjustment expenses (“LAE”) is as follows (in thousands). March 31, 2017 2016 Liability for unpaid losses and LAE at beginning of period, gross $ 161,079 $ 122,071 Reinsurance balances receivable (769 ) (464 ) Liability for unpaid losses and LAE at beginning of period, net 160,310 121,607 Add: Provision for losses and LAE: Current period 56,812 63,105 Prior periods (532 ) 10,314 Net losses and LAE incurred 56,280 73,419 Less: Losses and LAE paid: Current period 16,137 18,404 Prior periods 44,806 44,463 Net losses and LAE paid 60,943 62,867 Liability for unpaid losses and LAE at end of period, net 155,647 132,159 Reinsurance balances receivable 763 491 Liability for unpaid losses and LAE at end of period, gross $ 156,410 $ 132,650 The favorable development for the three months ended March 31, 2017 was primarily the result of favorable LAE development related to bodily injury claims over multiple prior accident periods, partially offset by some unfavorable development on losses related to bodily injury severity. The unfavorable development for the three months ended March 31, 2016 was the result of an increase in losses across all major coverages and over multiple prior accident periods. The primary causes of the unfavorable development were a sharp increase in bodily injury severity and a greater than usual amount of subsequent payments on previously closed claims.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The provision (benefit) for income taxes consisted of the following (in thousands). Three Months Ended March 31, 2017 2016 Federal: Current $ 122 $ (1 ) Deferred 627 (2,962 ) 749 (2,963 ) State: Current 80 100 Deferred 17 (6 ) 97 94 $ 846 $ (2,869 ) The provision (benefit) for income taxes differs from the amounts computed by applying the statutory federal corporate tax rate of 35% to income (loss) before income taxes as a result of the following (in thousands). Three Months Ended March 31, 2017 2016 Provision (benefit) for income taxes at statutory rate $ 552 $ (2,931 ) Tax effect of: Tax-exempt investment income (14 ) (10 ) Stock option expirations 229 4 State income taxes, net of federal income tax benefit and state valuation allowance 69 59 Other 10 9 $ 846 $ (2,869 ) The Company had a deferred tax asset (“DTA”) valuation allowance of $1.8 million at March 31, 2017 and $1.9 million at December 31, 2016, attributable to certain amounts related to state taxes and OTTI that are not more likely than not to be realized. In assessing the Company’s ability to realize the DTA, both positive and negative evidence are used to evaluate the allowance. Although the Company incurred a 2016 pre-tax loss of $45.1 million which is a source of negative evidence, it placed greater weight on its outlook for future taxable income over the allowable time period for realization of the DTA and concluded that it is more likely than not that the remaining DTA will be realized. Regarding the length of time available to realize the DTA, at March 31, 2017, $22.1 million of the DTA related to net operating loss carryforwards do not expire until 2031 through 2036 and $2.1 million in AMT (“Alternative Minimum Tax”) carryforwards have no expiration date. The DTA valuation allowance may be adjusted in future periods if management determines that it is more likely than not that some portion or all of the DTA will not be realized. In the event the DTA valuation allowance is increased, the Company would record an income tax expense for the adjustment.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	7. Segment Information The Company operates in two business segments with its primary focus being the selling, servicing and underwriting of non-standard personal automobile insurance. The real estate and corporate segment consists of the activities related to the disposition of foreclosed real estate held for sale, interest expense associated with all debt and other general corporate overhead expenses. The following table presents selected financial data by business segment (in thousands). Three Months Ended March 31, 2017 2016 Revenues: Insurance $ 88,053 $ 96,933 Real estate and corporate 16 15 Consolidated total $ 88,069 $ 96,948 Income (loss) before income taxes: Insurance $ 2,968 $ (7,021 ) Real estate and corporate (1,392 ) (1,353 ) Consolidated total $ 1,576 $ (8,374 ) March 31, December 31, 2017 2016 Total assets: Insurance $ 381,852 $ 354,008 Real estate and corporate 43,646 46,066 Consolidated total $ 425,498 $ 400,074

Litigation

Litigation	3 Months Ended
	Mar. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Litigation	8. Litigation The Company is named as a defendant in various lawsuits, arising in the ordinary course of business, generally relating to its insurance operations. All legal actions relating to claims made under insurance policies are considered by the Company in establishing its loss and loss adjustment expense reserves. The Company also faces lawsuits from time to time that seek damages beyond policy limits, commonly known as bad faith claims, as well as class action and individual lawsuits that involve issues arising in the course of the Company’s business. The Company continually evaluates potential liabilities and reserves for litigation of these types using the criteria established by FASB ASC 450, Contingencies

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	9. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) jointly issued a new revenue recognition standard, Accounting Standard Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers,” In January 2016, the FASB issued ASU No. 2016-01, “ Financial Instruments – Overall (Subtopic 825-20): Recognition and Measure of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Improvements to Employee Share-Based Payment Accounting In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326)” In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Parties	10. Related Parties In April 2016, the Company entered into standard agreements for treasury and investment custodial services with a bank in which our principal shareholder has a 15% indirect ownership interest. The fees under these agreements for the three months ended March 31, 2017 were $42 thousand.

Current Liquidity and Statutory

Current Liquidity and Statutory Capital and Surplus	3 Months Ended
	Mar. 31, 2017
Current Liquidity And Statutory Capital And Surplus [Abstract]
Current Liquidity and Statutory Capital and Surplus	11. Current Liquidity and Statutory Capital and Surplus The Company has $70.0 million in long-term borrowings of which $40.0 million matures in 2037 and $30.0 million matures in 2025. At March 31, 2017, the Company was in compliance with the covenants related to these borrowings. Such borrowings are not obligations of the Company’s regulated insurance company subsidiaries who at March 31, 2017 had combined statutory capital and surplus of $60.7 million. The Company believes that it has sufficient liquidity to meet its current obligations in the foreseeable future, including the payment of interest on its long-term borrowings which it currently funds through the cash flows of its agency operations which are generated outside the Company’s regulated insurance company subsidiaries and are not subject to any limitation on the payment of dividends to the holding company. The Company has three insurance company subsidiaries that are organized and domiciled under the insurance statutes of Texas, Georgia, and Tennessee. The insurance company subsidiaries operate under licenses issued by various state insurance authorities. Such licenses may be of perpetual duration or periodically renewable, provided the insurance company subsidiaries continue to meet applicable regulatory requirements. The National Association of Insurance Commissioners (“NAIC”) Model Act for risk-based capital provides formulas to determine each December 31 on an annual basis the amount of statutory capital and surplus that an insurance company needs to ensure that it has an acceptable expectation of not becoming financially impaired. Failure to meet applicable risk-based capital requirements could subject our insurance company subsidiaries to further examination or corrective action imposed by state regulators, including limitations on their writing of additional business, state supervision, or even liquidation. Although statutory risk-based capital calculations are only made as of each December 31, the Company estimated that the three insurance company subsidiaries are above the regulatory company action levels as of March 31, 2017. There are also statutory guidelines that suggest that on an annual calendar year basis an insurance company should not exceed a ratio of net premiums written to statutory capital and surplus of 3-to-1. On a combined basis, the ratio for our insurance company subsidiaries of net premiums written for the last twelve months to statutory capital and surplus was 4.85-to-1 at March 31, 2017 which is in excess of the suggested guidelines. Management is currently operating under a business plan to reduce premium writings and increase statutory capital and surplus to address the net premiums written to statutory capital and surplus guidelines.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Presentation of Carrying Values and Fair Values of Certain Financial Instruments	The carrying values and fair values of certain financial instruments were as follows (in thousands). March 31, 2017 December 31, 2016 Carrying Fair Carrying Fair Value Value Value Value Assets: Investments, available-for-sale $ 117,431 $ 117,431 $ 117,212 $ 117,212 Other investments 10,140 10,140 9,994 9,994 Liabilities: Debentures payable 40,313 13,443 40,302 11,488 Term loan from principal stockholder 29,786 17,210 29,779 15,000
Presentation of Fair-Value Measurements for Each Major Category of Assets Measured on Recurring Basis	The following tables present the fair-value measurements for each major category of assets that are measured on a recurring basis (in thousands). Other investments are carried at net asset value which approximates fair value. Fair Value Measurements Using Quoted Prices Significant in Active Other Significant Proportionate Markets for Observable Unobservable Share of Identical Assets Inputs Inputs Net Assets March 31, 2017 Total (Level 1) (Level 2) (Level 3) (NAV) Fixed maturities, available-for-sale: U.S. government and agencies $ 19,469 $ 19,469 $ — $ — $ — Political subdivisions 4,189 — 4,189 — — Revenue and assessment 5,590 — 5,590 — — Corporate bonds 45,650 — 45,650 — — Collateralized mortgage obligations: Agency backed 21,998 — 21,998 — — Non-agency backed – residential 2,845 — 2,845 — — Non-agency backed – commercial 1,843 — 1,843 — — Total fixed maturities, available-for-sale 101,584 19,469 82,115 — — Preferred stocks, available-for-sale 3,153 3,153 — — — Mutual funds, available-for-sale 12,694 12,694 — — — Total investments, available-for-sale 117,431 35,316 82,115 — — Other investments 10,140 — — 5,110 5,030 Cash, cash equivalents, and restricted cash 120,496 120,496 — — — Total $ 248,067 $ 155,812 $ 82,115 $ 5,110 $ 5,030 Fair Value Measurements Using Quoted Prices Significant in Active Other Significant Proportionate Markets for Observable Unobservable Share of Identical Assets Inputs Inputs Net Assets December 31, 2016 Total (Level 1) (Level 2) (Level 3) (NAV) Fixed maturities, available-for-sale: U.S. government and agencies $ 18,951 $ 18,951 $ — $ — $ — Political subdivisions 4,165 — 4,165 — — Revenue and assessment 5,683 — 5,683 — — Corporate bonds 45,540 — 45,540 — — Collateralized mortgage obligations: Agency backed 22,422 — 22,422 — — Non-agency backed – residential 2,933 — 2,933 — — Non-agency backed – commercial 1,895 — 1,895 — — Total fixed maturities, available-for-sale 101,589 18,951 82,638 — — Preferred stocks, available-for-sale 3,112 3,112 — — — Mutual funds, available-for-sale 12,511 12,511 — — — Total investments, available-for-sale 117,212 34,574 82,638 — — Other investment 9,994 — — 4,858 5,136 Cash, cash equivalents, and restricted cash 118,681 118,681 — — — Total $ 245,887 $ 153,255 $ 82,638 $ 4,858 $ 5,136
Quantitative Disclosure for Assets Classified as Level 3	The following table represents the quantitative disclosure for the asset classified as Level 3 during the three months ended March 31, 2017 (in thousands). Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Common Stock at Fair Value Balance at December 31, 2016 $ 4,858 Gains included in net loss — Gains included in comprehensive income (loss) 174 Investments and capital calls 78 Distributions received — Transfers into and out of Level 3 — Balance at March 31, 2017 $ 5,110

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments Debt And Equity Securities [Abstract]
Summary of Company's Investment Securities	The following tables summarize the Company’s investment securities (in thousands). Gross Gross Amortized Unrealized Unrealized Fair March 31, 2017 Cost Gains Losses Value U.S. government and agencies $ 19,639 $ 106 $ (276) $ 19,469 Political subdivisions 4,203 — (14) 4,189 Revenue and assessment 5,436 186 (32) 5,590 Corporate bonds 47,189 81 (1,620) 45,650 Collateralized mortgage obligations: Agency backed 22,666 72 (740) 21,998 Non-agency backed – residential 2,309 543 (7) 2,845 Non-agency backed – commercial 1,339 504 — 1,843 Total fixed maturities, available-for-sale 102,781 1,492 (2,689) 101,584 Preferred stocks, available-for-sale 3,025 220 (92) 3,153 Mutual funds, available-for-sale 11,813 881 — 12,694 $ 117,619 $ 2,593 $ (2,781) $ 117,431 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2016 Cost Gains Losses Value U.S. government and agencies $ 19,142 $ 112 $ (303 ) $ 18,951 Political subdivisions 4,233 — (68 ) 4,165 Revenue and assessment 5,539 185 (41 ) 5,683 Corporate bonds 47,238 107 (1,805 ) 45,540 Collateralized mortgage obligations: Agency backed 23,093 73 (744 ) 22,422 Non-agency backed – residential 2,411 529 (7 ) 2,933 Non-agency backed – commercial 1,408 487 — 1,895 Total fixed maturities, available-for-sale 103,064 1,493 (2,968 ) 101,589 Preferred stocks, available-for-sale 3,025 198 (111 ) 3,112 Mutual funds, available-for-sale 11,813 698 — 12,511 $ 117,902 $ 2,389 $ (3,079 ) $ 117,212
Scheduled Maturities of Company's Fixed Maturity Securities Based on their Fair Values	The following table sets forth the scheduled maturities of the Company’s fixed maturity securities based on their fair values (in thousands). Actual maturities may differ from contractual maturities because certain securities may be called or prepaid by the issuers. Securities Securities Securities with No All with with Unrealized Fixed Unrealized Unrealized Gains or Maturity March 31, 2017 Gains Losses Losses Securities One year or less $ 2,701 $ 6,574 $ — $ 9,275 After one through five years 7,059 23,556 30,615 After five through ten years — 33,254 — 33,254 After ten years 1,754 — — 1,754 No single maturity date 5,046 21,640 — 26,686 $ 16,560 $ 85,024 $ — $ 101,584
Number of Fixed Maturity Securities with Gross Unrealized Gains and Losses	The following table reflects the number of fixed maturity securities with gross unrealized gains and losses. Gross unrealized losses are further segregated by the length of time that individual securities have been in a continuous unrealized loss position. Gross Unrealized Losses Less than Greater Gross or equal to than 12 Unrealized At: 12 months months Gains March 31, 2017 37 1 38 December 31, 2016 37 — 40
Fair Value and Gross Unrealized Losses of Fixed Maturity Securities in Continuous Unrealized Loss Position for Greater than 12 Months	The following table reflects the fair value and gross unrealized losses of those fixed maturity securities in a continuous unrealized loss position for greater than 12 months at March 31, 2017. There were no securities meeting these criteria at December 31, 2016. Gross unrealized losses are further segregated by the percentage of amortized cost (in thousands, except number of securities). Number Gross Gross Unrealized Losses of Fair Unrealized at March 31, 2017: Securities Value Losses Less than or equal to 10% 1 $ 106 $ (6 ) Greater than 10% — — — 1 $ 106 $ (6 )
Gross Unrealized Losses by Current Severity and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position	The following tables set forth the amount of gross unrealized losses by current severity (as compared to amortized cost) and length of time that individual securities have been in a continuous unrealized loss position (in thousands). Fair Value of Securities with Length of Gross Gross Severity of Gross Unrealized Losses Gross Unrealized Losses Unrealized Unrealized Less 5% to Greater at March 31, 2017: Losses Losses than 5% 10% than 10% Less than or equal to: Three months $ 5,394 $ (7 ) $ (7 ) $ — $ — Six months 55,253 (1,708 ) (1,427 ) (281 ) — Nine months 25,206 (1,060 ) (204 ) (856 ) — Twelve months — — — — — Greater than twelve months 106 (6 ) (6 ) — — Total $ 85,959 $ (2,781 ) $ (1,644 ) $ (1,137 ) $ — Fair Value of Securities with Length of Gross Gross Severity of Gross Unrealized Losses Gross Unrealized Losses Unrealized Unrealized Less 5% to Greater at December 31, 2016: Losses Losses than 5% 10% than 10% Less than or equal to: Three months $ 58,550 $ (1,886 ) $ (1,461 ) $ (425 ) $ — Six months 27,193 (1,186 ) (232 ) (954 ) — Nine months 152 — — — Twelve months 105 (7 ) — (7 ) — Greater than twelve months — — — — — Total $ 86,000 $ (3,079 ) $ (1,693 ) $ (1,386 ) $ -
Major Categories of Investment Income	The major categories of investment income follow (in thousands). Three Months Ended March 31, 2017 2016 Fixed maturities, available-for-sale $ 623 $ 970 Mutual funds, available-for-sale 162 206 Preferred stocks 45 24 Other investments 149 (170 ) Cash and cash equivalents 159 40 Other 14 14 Investment expenses (119 ) (122 ) $ 1,033 $ 962
Components of Net Realized Gains (Losses) on Investments, Available-For-Sale at Fair Value	The components of net realized gains (losses) on investments, available-for-sale at fair value follow (in thousands). Three Months Ended March 31, 2017 2016 Gains $ — $ — Losses (5 ) (2 ) $ (5 ) $ (2 )

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income (Loss) Per Share	The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data). Three Months Ended March 31, 2017 2016 Net income (loss) $ 730 $ (5,505 ) Weighted average common basic shares 41,160 41,060 Effect of dilutive securities 21 — Weighted average common dilutive shares 41,181 41,060 Basic and diluted net income (loss) per share $ 0.02 $ (0.13 )

Losses and Loss Adjustment Ex21

Losses and Loss Adjustment Expenses Incurred and Paid (Tables)	3 Months Ended
	Mar. 31, 2017
Insurance [Abstract]
Information Regarding the Reserve for Unpaid Losses and Loss Adjustment Expenses	Information regarding the reserve for unpaid losses and loss adjustment expenses (“LAE”) is as follows (in thousands). March 31, 2017 2016 Liability for unpaid losses and LAE at beginning of period, gross $ 161,079 $ 122,071 Reinsurance balances receivable (769 ) (464 ) Liability for unpaid losses and LAE at beginning of period, net 160,310 121,607 Add: Provision for losses and LAE: Current period 56,812 63,105 Prior periods (532 ) 10,314 Net losses and LAE incurred 56,280 73,419 Less: Losses and LAE paid: Current period 16,137 18,404 Prior periods 44,806 44,463 Net losses and LAE paid 60,943 62,867 Liability for unpaid losses and LAE at end of period, net 155,647 132,159 Reinsurance balances receivable 763 491 Liability for unpaid losses and LAE at end of period, gross $ 156,410 $ 132,650

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Provision (Benefit) for Income Taxes	The provision (benefit) for income taxes consisted of the following (in thousands). Three Months Ended March 31, 2017 2016 Federal: Current $ 122 $ (1 ) Deferred 627 (2,962 ) 749 (2,963 ) State: Current 80 100 Deferred 17 (6 ) 97 94 $ 846 $ (2,869 )
Provision (Benefit) for Income Taxes Differs from Amounts Computed by Applying Statutory Federal Corporate Tax Rate	The provision (benefit) for income taxes differs from the amounts computed by applying the statutory federal corporate tax rate of 35% to income (loss) before income taxes as a result of the following (in thousands). Three Months Ended March 31, 2017 2016 Provision (benefit) for income taxes at statutory rate $ 552 $ (2,931 ) Tax effect of: Tax-exempt investment income (14 ) (10 ) Stock option expirations 229 4 State income taxes, net of federal income tax benefit and state valuation allowance 69 59 Other 10 9 $ 846 $ (2,869 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Selected Financial Data by Business Segment	The following table presents selected financial data by business segment (in thousands). Three Months Ended March 31, 2017 2016 Revenues: Insurance $ 88,053 $ 96,933 Real estate and corporate 16 15 Consolidated total $ 88,069 $ 96,948 Income (loss) before income taxes: Insurance $ 2,968 $ (7,021 ) Real estate and corporate (1,392 ) (1,353 ) Consolidated total $ 1,576 $ (8,374 ) March 31, December 31, 2017 2016 Total assets: Insurance $ 381,852 $ 354,008 Real estate and corporate 43,646 46,066 Consolidated total $ 425,498 $ 400,074

General - Additional Informatio

General - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Assets [Abstract]
Maximum maturity period of cash equivalents included in investments	3 months
Restricted cash equivalents	$ 17.3	$ 18.6

Fair Value - Presentation of Ca

Fair Value - Presentation of Carrying Values and Fair Values of Certain Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets:
Investments, available-for-sale	$ 117,431	$ 117,212
Other investments	10,140	9,994
Carrying Value
Assets:
Investments, available-for-sale	117,431	117,212
Other investments	10,140	9,994
Liabilities:
Debentures payable	40,313	40,302
Term loan from principal stockholder	29,786	29,779
Fair Value
Assets:
Investments, available-for-sale	117,431	117,212
Other investments	10,140	9,994
Liabilities:
Debentures payable	13,443	11,488
Term loan from principal stockholder	$ 17,210	$ 15,000

Fair Value - Presentation of Fa

Fair Value - Presentation of Fair-Value Measurements for Each Major Category of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	$ 117,431	$ 117,212
Other investments	10,140	9,994
Cash, cash equivalents, and restricted cash	120,496	118,681
Total	248,067	245,887
Other investments, proportionate share of net assets	5,030	5,136
Total, proportionate share of net assets	5,030	5,136
Fixed Maturities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	101,584	101,589
Fixed Maturities | U.S. government and agencies
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	19,469	18,951
Fixed Maturities | Political subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	4,189	4,165
Fixed Maturities | Revenue and assessment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	5,590	5,683
Fixed Maturities | Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	45,650	45,540
Fixed Maturities | Collateralized mortgage obligations: Agency Backed
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	21,998	22,422
Fixed Maturities | Collateralized mortgage obligations: Non-agency backed - residential
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	2,845	2,933
Fixed Maturities | Collateralized mortgage obligations: Non-agency backed - commercial
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	1,843	1,895
Preferred stocks, available-for-sale
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	3,153	3,112
Mutual funds, available-for-sale
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	12,694	12,511
Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	35,316	34,574
Cash, cash equivalents, and restricted cash	120,496	118,681
Total	155,812	153,255
Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) | Fixed Maturities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	19,469	18,951
Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) | Fixed Maturities | U.S. government and agencies
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	19,469	18,951
Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) | Preferred stocks, available-for-sale
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	3,153	3,112
Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds, available-for-sale
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	12,694	12,511
Fair Value Measurements Using Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	82,115	82,638
Total	82,115	82,638
Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | Fixed Maturities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	82,115	82,638
Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | Fixed Maturities | Political subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	4,189	4,165
Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | Fixed Maturities | Revenue and assessment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	5,590	5,683
Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | Fixed Maturities | Corporate bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	45,650	45,540
Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | Fixed Maturities | Collateralized mortgage obligations: Agency Backed
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	21,998	22,422
Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | Fixed Maturities | Collateralized mortgage obligations: Non-agency backed - residential
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	2,845	2,933
Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | Fixed Maturities | Collateralized mortgage obligations: Non-agency backed - commercial
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments, available-for-sale	1,843	1,895
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	5,110	4,858
Total	$ 5,110	$ 4,858

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($)	Mar. 31, 2017	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Transfers between level 1 and level 2	$ 0	$ 0
Transfers between level 2 and level 1	$ 0	$ 0

Fair Value - Quantitative Discl

Fair Value - Quantitative Disclosure for Assets Classified as Level 3 (Detail) - Common Stock at Fair Value $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at December 31, 2016	$ 4,858
Gains included in comprehensive income (loss)	174
Investments and capital calls	78
Balance at March 31, 2017	$ 5,110

Investments - Summary of Compan

Investments - Summary of Company's Investment Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investment Securities [Line Items]
Amortized Cost	$ 117,619	$ 117,902
Gross Unrealized Gains	2,593	2,389
Gross Unrealized Losses	(2,781)	(3,079)
Fair Value	117,431	117,212
Fixed Maturities
Investment Securities [Line Items]
Amortized Cost	102,781	103,064
Gross Unrealized Gains	1,492	1,493
Gross Unrealized Losses	(2,689)	(2,968)
Fair Value	101,584	101,589
Fixed Maturities | U.S. government and agencies
Investment Securities [Line Items]
Amortized Cost	19,639	19,142
Gross Unrealized Gains	106	112
Gross Unrealized Losses	(276)	(303)
Fair Value	19,469	18,951
Fixed Maturities | Political subdivisions
Investment Securities [Line Items]
Amortized Cost	4,203	4,233
Gross Unrealized Losses	(14)	(68)
Fair Value	4,189	4,165
Fixed Maturities | Revenue and assessment
Investment Securities [Line Items]
Amortized Cost	5,436	5,539
Gross Unrealized Gains	186	185
Gross Unrealized Losses	(32)	(41)
Fair Value	5,590	5,683
Fixed Maturities | Corporate bonds
Investment Securities [Line Items]
Amortized Cost	47,189	47,238
Gross Unrealized Gains	81	107
Gross Unrealized Losses	(1,620)	(1,805)
Fair Value	45,650	45,540
Fixed Maturities | Collateralized mortgage obligations: Agency Backed
Investment Securities [Line Items]
Amortized Cost	22,666	23,093
Gross Unrealized Gains	72	73
Gross Unrealized Losses	(740)	(744)
Fair Value	21,998	22,422
Fixed Maturities | Collateralized mortgage obligations: Non-agency backed - residential
Investment Securities [Line Items]
Amortized Cost	2,309	2,411
Gross Unrealized Gains	543	529
Gross Unrealized Losses	(7)	(7)
Fair Value	2,845	2,933
Fixed Maturities | Collateralized mortgage obligations: Non-agency backed - commercial
Investment Securities [Line Items]
Amortized Cost	1,339	1,408
Gross Unrealized Gains	504	487
Fair Value	1,843	1,895
Preferred stocks, available-for-sale
Investment Securities [Line Items]
Amortized Cost	3,025	3,025
Gross Unrealized Gains	220	198
Gross Unrealized Losses	(92)	(111)
Fair Value	3,153	3,112
Mutual funds, available-for-sale
Investment Securities [Line Items]
Amortized Cost	11,813	11,813
Gross Unrealized Gains	881	698
Fair Value	$ 12,694	$ 12,511

Investments - Scheduled Maturit

Investments - Scheduled Maturities of Company's Fixed Maturity Securities Based on their Fair Values (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Securities with Unrealized Losses, Total	$ 85,959	$ 86,000
Fixed Maturities
Schedule of Available-for-sale Securities [Line Items]
Securities with Unrealized Gains, One year or less	2,701
Securities with Unrealized Gains, After one through five years	7,059
Securities with Unrealized Gains, After ten years	1,754
Securities with Unrealized Gains, No single maturity date	5,046
Securities with Unrealized Gains, Total	16,560
Securities with Unrealized Losses, One year or less	6,574
Securities with Unrealized Losses, After one through five years	23,556
Securities with Unrealized Losses, After five through ten years	33,254
Securities with Unrealized Losses, No single maturity date	21,640
Securities with Unrealized Losses, Total	85,024
All Fixed Maturity Securities, One year or less	9,275
All Fixed Maturity Securities, After one through five years	30,615
All Fixed Maturity Securities, After five through ten years	33,254
All Fixed Maturity Securities, After ten years	1,754
All Fixed Maturity Securities, No single maturity date	26,686
All Fixed Maturity Securities, Total	$ 101,584

Investments - Number of Fixed M

Investments - Number of Fixed Maturity Securities with Gross Unrealized Gains and Losses (Detail) - Security	Mar. 31, 2017	Dec. 31, 2016
Investments Debt And Equity Securities [Abstract]
Number of Securities with Gross Unrealized Losses Less than or equal to 12 months	37	37
Number of Securities with Gross Unrealized Losses Greater than 12 months	1	0
Number of Securities with Gross Unrealized Gains	38	40

Investments - Additional Inform

Investments - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)SecurityFund	Dec. 31, 2016USD ($)Security
Investments Debt And Equity Securities [Abstract]
Number of securities | Security	1	0
OTTI charges recognized in net income (loss)	$ 0
Number of investment funds | Fund	2
Unfunded commitment	$ 2,500,000
Fixed maturities and cash equivalents on deposit with various insurance departments at fair value and amortized cost	6,300,000
Cash equivalents on deposit with another insurance company at fair value and amortized cost	17,100,000
Non credit other than temporary impairment for securities	$ 1,100,000	$ 1,100,000

Investments - Fair Value and Gr

Investments - Fair Value and Gross Unrealized Losses of Fixed Maturity Securities in Continuous Unrealized Loss Position for Greater than 12 Months (Detail) $ in Thousands	Mar. 31, 2017USD ($)Security	Dec. 31, 2016Security
Schedule of Available-for-sale Securities [Line Items]
Number of Securities | Security	1	0
Fair Value	$ 106
Gross Unrealized Losses	$ (6)
Percentage of amortized cost less than or equal to 10%
Schedule of Available-for-sale Securities [Line Items]
Number of Securities | Security	1
Fair Value	$ 106
Gross Unrealized Losses	$ (6)

Investments - Gross Unrealized

Investments - Gross Unrealized Losses by Current Severity and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investment Maturity Date [Line Items]
Fair Value of Securities with Gross Unrealized Losses	$ 85,959	$ 86,000
Gross Unrealized Losses	(2,781)	(3,079)
Percentage of amortized cost less than 5%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	(1,644)	(1,693)
Percentage of amortized cost 5% to 10%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	(1,137)	(1,386)
Less than or equals to three months
Investment Maturity Date [Line Items]
Fair Value of Securities with Gross Unrealized Losses	5,394	58,550
Gross Unrealized Losses	(7)	(1,886)
Less than or equals to three months | Percentage of amortized cost less than 5%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	(7)	(1,461)
Less than or equals to three months | Percentage of amortized cost 5% to 10%
Investment Maturity Date [Line Items]
Gross Unrealized Losses		(425)
Less than or equals to six months
Investment Maturity Date [Line Items]
Fair Value of Securities with Gross Unrealized Losses	55,253	27,193
Gross Unrealized Losses	(1,708)	(1,186)
Less than or equals to six months | Percentage of amortized cost less than 5%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	(1,427)	(232)
Less than or equals to six months | Percentage of amortized cost 5% to 10%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	(281)	(954)
Less than or equals to nine months
Investment Maturity Date [Line Items]
Fair Value of Securities with Gross Unrealized Losses	25,206	152
Gross Unrealized Losses	(1,060)
Less than or equals to nine months | Percentage of amortized cost less than 5%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	(204)
Less than or equals to nine months | Percentage of amortized cost 5% to 10%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	(856)
Less than or equals to twelve months
Investment Maturity Date [Line Items]
Fair Value of Securities with Gross Unrealized Losses		105
Gross Unrealized Losses		(7)
Less than or equals to twelve months | Percentage of amortized cost 5% to 10%
Investment Maturity Date [Line Items]
Gross Unrealized Losses		$ (7)
Greater than 12 months
Investment Maturity Date [Line Items]
Fair Value of Securities with Gross Unrealized Losses	106
Gross Unrealized Losses	(6)
Greater than 12 months | Percentage of amortized cost less than 5%
Investment Maturity Date [Line Items]
Gross Unrealized Losses	$ (6)

Investments - Major Categories

Investments - Major Categories of Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net Investment Income [Line Items]
Investment expenses	$ (119)	$ (122)
Net investment income	1,033	962
Fixed Maturities
Net Investment Income [Line Items]
Gross investment income	623	970
Mutual funds, available-for-sale
Net Investment Income [Line Items]
Gross investment income	162	206
Preferred stocks
Net Investment Income [Line Items]
Gross investment income	45	24
Other investments
Net Investment Income [Line Items]
Gross investment income	149	(170)
Cash and cash equivalents
Net Investment Income [Line Items]
Gross investment income	159	40
Other
Net Investment Income [Line Items]
Gross investment income	$ 14	$ 14

Investments - Components of Net

Investments - Components of Net Realized Gains (Losses) on Investments, Available-for-Sale at Fair Value (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Investments Debt And Equity Securities [Abstract]
Losses	$ (5)	$ (2)
Net realized gains (losses) on investments, available-for-sale	$ (5)	$ (2)

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income (loss)	$ 730	$ (5,505)
Weighted average common basic shares	41,160	41,060
Effect of dilutive securities	21
Weighted average common dilutive shares	41,181	41,060
Basic and diluted net income (loss) per share	$ 0.02	$ (0.13)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restricted stock
Earnings Per Share [Line Items]
Exercisable options outstanding that enable to purchase shares	76	257
Shares with dilutive effect and included in computation of diluted income (loss) per share	21
Options excluded from computation of diluted income (loss) per share due to anti-dilutive effect	93
Equity option
Earnings Per Share [Line Items]
Exercisable options outstanding that enable to purchase shares		825
Shares with dilutive effect and included in computation of diluted income (loss) per share		276
Options excluded from computation of diluted income (loss) per share due to anti-dilutive effect	120	260

Losses and Loss Adjustment Ex39

Losses and Loss Adjustment Expenses Incurred and Paid - Information Regarding the Reserve for Unpaid Losses and Loss Adjustment Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Insurance [Abstract]
Liability for unpaid losses and LAE at beginning of period, gross	$ 161,079	$ 122,071
Reinsurance balances receivable, beginning balance	(769)	(464)
Liability for unpaid losses and LAE at beginning of period, net	160,310	121,607
Add: Provision for losses and LAE:
Current period	56,812	63,105
Prior periods	(532)	10,314
Net losses and LAE incurred	56,280	73,419
Less: Losses and LAE paid:
Current period	16,137	18,404
Prior periods	44,806	44,463
Net losses and LAE paid	60,943	62,867
Liability for unpaid losses and LAE at end of period, net	155,647	132,159
Reinsurance balances receivable, ending balance	763	491
Liability for unpaid losses and LAE at end of period, gross	$ 156,410	$ 132,650

Income Taxes - Provision (Benef

Income Taxes - Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Federal:
Current	$ 122	$ (1)
Deferred	627	(2,962)
Gross Federal	749	(2,963)
State:
Current	80	100
Deferred	17	(6)
Gross State	97	94
Income tax expense (benefit)	$ 846	$ (2,869)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Statutory federal corporate tax rate	35.00%
Valuation allowance	$ 1,800		$ 1,900
Pre-tax loss	1,576	$ (8,374)	$ (45,100)
DTA related to net operating loss carryforwards	$ 22,100
DTA related to operating loss carryforwards expiration, description	do not expire until 2031 through 2036
AMT carryforwards	$ 2,100

Income Taxes - Provision (Ben42

Income Taxes - Provision (Benefit) for Income Taxes Differs from Amounts Computed by Applying Statutory Federal Corporate Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes at statutory rate	$ 552	$ (2,931)
Tax effect of:
Tax-exempt investment income	(14)	(10)
Stock option expirations	229	4
State income taxes, net of federal income tax benefit and state valuation allowance	69	59
Other	10	9
Income tax expense (benefit)	$ 846	$ (2,869)

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017Segment
Segment Reporting [Abstract]
Number of business segments	2

Segment Information - Selected

Segment Information - Selected Financial Data by Business Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues	$ 88,069	$ 96,948
Income (loss) before income taxes	1,576	(8,374)	$ (45,100)
Total assets	425,498		400,074
Insurance
Segment Reporting Information [Line Items]
Revenues	88,053	96,933
Income (loss) before income taxes	2,968	(7,021)
Total assets	381,852		354,008
Real estate and Corporate
Segment Reporting Information [Line Items]
Revenues	16	15
Income (loss) before income taxes	(1,392)	$ (1,353)
Total assets	$ 43,646		$ 46,066

Related Parties - Additional In

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2016	Mar. 31, 2017
Related Party Transaction [Line Items]
Percentage of indirect ownership by principal stockholder	15.00%
Treasury And Custodial Services Agreements
Related Party Transaction [Line Items]
Fees for related party services		$ 42

Current Liquidity and Statuto46

Current Liquidity and Statutory Capital and Surplus - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Current Liquidity And Statutory Capital And Surplus [Line Items]
Long-term debt obligations	$ 70
Statutory capital and surplus balance	$ 60.7
Ratio of net premiums to statutory capital and surplus	4.85%
Minimum
Current Liquidity And Statutory Capital And Surplus [Line Items]
Ratio of net premiums to statutory capital and surplus	3.00%
Long-term debt matures on 2037
Current Liquidity And Statutory Capital And Surplus [Line Items]
Long-term debt obligations	$ 40
Long-term debt matures on 2025
Current Liquidity And Statutory Capital And Surplus [Line Items]
Long-term debt obligations	$ 30