FedNat Holding (FNHCQ) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
Cover page [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	000-25001
Entity Registrant Name	FedNat Holding Company
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	65-0248866
Entity Address, Address Line One	14050 N.W. 14th Street
Entity Address, Address Line Two	Suite 180
Entity Address, City or Town	Sunrise
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33323
City Area Code	800
Local Phone Number	293-2532
Title of 12(b) Security	Common Stock
Trading Symbol	FNHC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,673,319
Entity Central Index Key	0001069996
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Investments:
Debt securities, available-for-sale, at fair value (amortized cost of $534,551 and $512,645, respectively)	$ 542,835	$ 526,265
Debt Securities, Held-to-maturity	4,271	4,337
Equity securities, at fair value	17,324	20,039
Total investments	564,430	550,641
Cash and cash equivalents	123,190	133,361
Prepaid reinsurance premiums	89,465	145,659
Premiums receivable, net of allowance of $189 and $159, respectively	38,337	41,422
Reinsurance Recoverables, Including Reinsurance Premium Paid	261,150	209,615
Deferred acquisition costs and value of business acquired, net	57,715	56,136
Current and deferred income taxes, net	2,358	2,552
Other assets	29,456	28,633
Total assets	1,177,098	1,179,016
LIABILITIES AND SHAREHOLDERS’ EQUITY
Loss and loss adjustment expense reserves	375,675	324,362
Unearned premiums	358,258	360,870
Reinsurance payable	63,051	102,467
Debt and Lease Obligation	98,562	98,522
Deferred revenue	6,770	6,856
Other liabilities	35,608	37,246
Total liabilities	937,924	930,323
Shareholders' Equity
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Issued	139	144
Additional paid-in capital	168,130	167,677
Accumulated other comprehensive income (loss)	6,253	10,281
Retained earnings	64,652	70,591
Total shareholders’ equity	239,174	248,693
Total liabilities and shareholders' equity	1,177,098	1,179,016
Goodwill	10,997	10,997
Reinsurance Recoverable, Allowance for Credit Loss	53	0
Debt Securities, Held-to-maturity, Allowance for Credit Loss	$ 2	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Investments:
Debt securities, available-for-sale, at amortized cost	$ 534,551	$ 512,645
Total investments (including $0,000 and $26,284 related to the VIE, respectively)	564,430	550,641
Premium Receivable, Allowance for Credit Loss	189	159
Deferred financing costs	$ 1,438	$ 1,478
Shareholders' Equity
Preferred stock, par value (in dollars)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	13,949,971	14,414,821
Common stock, shares outstanding (in shares)	13,949,971	14,414,821

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Net premiums earned	$ 105,910	$ 88,784
Net investment income	3,892	3,710
Net realized and unrealized investment gains (losses)	(2,825)	2,301
Direct written policy fees	3,466	2,391
Other income	5,256	4,011
Total revenues	115,699	101,197
Costs and expenses:
Losses and loss adjustment expenses	68,930	66,839
Commissions and other underwriting expenses	36,355	28,234
General and administrative expenses	6,245	6,311
Interest expense	1,915	5,051
Total costs and expenses	113,445	106,435
Income (loss) before income taxes	2,254	(5,238)
Income tax expense (benefit)	121	(1,373)
Net income (loss)	$ 2,133	$ (3,865)
Net Income (Loss) Per Common Share
Basic (in dollars per share)	$ 0.15	$ (0.30)
Diluted (in dollars per share)	$ 0.15	$ (0.30)
Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)	14,249	12,795
Diluted (in shares)	14,312	12,795
Dividends declared per share of common stock (in dollars per share)	$ 0.09	$ 0.08

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,133	$ (3,865)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	(4,028)	6,888
Comprehensive income (loss)	$ (1,895)	$ 3,023

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Other Comprehensive Income (Loss)	Retained Earnings
Balance (in shares) at Dec. 31, 2018		0	12,784,444
Balance at Dec. 31, 2018	$ 215,259		$ 128	$ 141,128	$ (3,750)	$ 77,753
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,865)					(3,865)
Shares issued under share-based compensation plans	6,888				6,888
Dividends declared	(1,041)					(1,041)
Shares issued under share-based compensation plans (in shares)			51,957
Shares issued under share-based compensation plans	0
Share-based compensation	675			675
Balance (in shares) at Mar. 31, 2019		0	12,836,401
Balance at Mar. 31, 2019	217,916		$ 128	141,803	3,138	72,847
Balance (in shares) at Dec. 31, 2019		0	14,414,821
Balance at Dec. 31, 2019	248,693		$ 144	167,677	10,281	70,591
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,133					2,133
Shares issued under share-based compensation plans	(4,028)				(4,028)
Dividends declared	(1,302)					(1,302)
Shares issued under share-based compensation plans (in shares)			58,733
Shares issued under share-based compensation plans	0
Repurchases of common stock (in shares)			523,583
Repurchases of common stock	(6,750)		$ (5)			(6,745)
Share-based compensation	453			453
Balance (in shares) at Mar. 31, 2020		0	13,949,971
Balance at Mar. 31, 2020	$ 239,174		$ 139	$ 168,130	$ 6,253	$ 64,652

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flow from operating activities:
Net income (loss)	$ 2,133	$ (3,865)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net realized and unrealized investment (gains) losses	2,825	(2,301)
Loss (gain) on early extinguishment of debt	0	3,575
Amortization of investment premium or discount, net	400	197
Depreciation and amortization	465	355
Share-based compensation	453	675
Changes in operating assets and liabilities:
Prepaid reinsurance premiums	56,194	38,719
Premiums receivable, net	3,085	7,107
Reinsurance recoverable, net	(51,567)	(90,498)
Deferred acquisition costs and value of business acquired, net	(1,579)	(796)
Income taxes, net	1,510	(1,146)
Deferred revenue	(86)	(18)
Loss and loss adjustment expense reserves	51,313	77,894
Unearned premiums	(2,612)	(6,132)
Reinsurance payable	(39,416)	(32,200)
Other	(1,745)	1,639
Net cash provided by (used in) operating activities	21,373	(6,795)
Cash flow from investing activities:
Proceeds from sales of equity securities	2,056	1,506
Proceeds from sales of debt securities	103,118	49,174
Purchases of equity securities	3,428	2,188
Purchases of debt securities	(134,971)	(62,741)
Maturities and redemptions of debt securities	10,850	8,271
Purchases of property and equipment	(1,224)	(486)
Net cash provided by (used in) investing activities	(23,599)	(6,464)
Cash flow from financing activities:
Proceeds from issuance of long-term debt, net of issuance costs	0	98,464
Payment of long-term debt and prepayment penalties	0	(48,000)
Purchases of FedNat Holding Company common stock	(6,643)	0
Dividends paid	(1,302)	(1,039)
Net cash provided by (used in) financing activities	(7,945)	49,425
Net increase (decrease) in cash and cash equivalents	(10,171)	36,166
Cash and cash equivalents at beginning-of-period	133,361	64,423
Cash and cash equivalents at end-of-period	123,190	100,589
Supplemental disclosure of cash flow information:
Cash paid (received) during the period for interest	3,750	902
Cash paid (received) during the period for income taxes	(811)	(277)
Right-of-use asset	(7,938)	(8,103)
Lease liability	$ 7,938	$ 8,103

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE	4. FAIR VALUE Fair Value Disclosures of Financial Instruments The Company accounts for financial instruments at fair value or the price that would be received to sell 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 recorded at fair value are classified and disclosed in one of the following three categories: • Level 1 - Quoted market prices (unadjusted) for identical assets or liabilities in active markets is defined as a market where transactions for the financial statement occur with sufficient frequency and volume to provide pricing information on an ongoing basis, or observable inputs. • Level 2 - Quoted market prices for similar assets or liabilities and valuations, using models or other valuation techniques using observable market data. Significant other observable that can be corroborated by observable market data; and • Level 3 - Instruments that use non-binding broker quotes or model driven valuations that do not have observable market data or those that are estimated based on an ownership interest to which a proportionate share of net assets is attributed. 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 instrument. The Company’s financial instruments measured at fair value on a recurring basis and the level of the fair value hierarchy of inputs used consisted of the following: March 31, 2020 Level 1 Level 2 Level 3 Total (In thousands) Debt securities - available-for-sale, at fair value: United States government obligations and authorities $ 66,033 $ 130,330 $ — $ 196,363 Obligations of states and political subdivisions — 22,298 — 22,298 Corporate securities — 293,730 — 293,730 International securities — 30,444 — 30,444 Debt securities, at fair value 66,033 476,802 — 542,835 Equity securities, at fair value 13,720 3,604 — 17,324 Total investments, at fair value $ 79,753 $ 480,406 $ — $ 560,159 ໿ December 31, 2019 Level 1 Level 2 Level 3 Total (In thousands) Debt securities - available-for-sale, at fair value: United States government obligations and authorities $ 83,764 $ 110,429 $ — $ 194,193 Obligations of states and political subdivisions — 24,020 — 24,020 Corporate securities — 278,302 — 278,302 International securities — 29,750 — 29,750 Debt securities, at fair value 83,764 442,501 — 526,265 Equity securities, at fair value 17,361 2,678 — 20,039 Total investments, at fair value $ 101,125 $ 445,179 $ — $ 546,304 Held-to-maturity debt securities reported on the consolidated balance sheets at amortized cost and disclosed at fair value below (and in Note 5) and the level of fair value hierarchy of inputs used consisted of the following: Level 1 Level 2 Level 3 Total (In thousands) March 31, 2020 $ 3,439 $ 822 $ — $ 4,261 December 31, 2019 3,453 878 — 4,331 We measure the fair value of our securities based on assumptions used by market participants in pricing the security. The most appropriate valuation methodology is selected based on the specific characteristics of the security, and we consistently apply the valuation methodology to measure the security’s fair value. Our fair value measurement is based on a market approach that utilizes prices and other relevant information generated by market transactions involving identical or comparable securities. We review the third-party pricing methodologies on a quarterly basis and validate the fair value prices to a separate independent data service and ensure there are no material differences. Additionally, market indicators, industry and economic events are monitored. A summary of the significant valuation techniques and market inputs for each financial instrument carried at fair value includes the following: • United States Government Obligations and Authorities - In determining the fair value for United States government securities in Level 1, the Company uses quoted prices (unadjusted) in active markets for identical or similar assets. In determining the fair value for United States government securities in Level 2, the Company uses the market approach utilizing primary valuation inputs including reported trades, dealer quotes for identical or similar assets in markets that are not active, benchmark yields, credit spreads, reference data and industry and economic events. • Obligations of States and Political Subdivisions - In determining the fair value for state and municipal securities, the Company uses the market approach utilizing primary valuation inputs including reported trades, dealer quotes for identical or similar assets in markets that are not active, benchmark yields, credit spreads, reference data and industry and economic events. • Corporate and International Securities - In determining the fair value for corporate securities the Company uses the market approach utilizing primary valuation inputs including reported trades, dealer quotes for identical or similar assets in markets that are not active, benchmark yields, credit spreads (for investment grade securities), observations of equity and credit default swap curves (for high-yield corporates), reference data and industry and economic events. • Equity Securities - In determining the fair value for equity securities in Level 1, the Company uses quoted prices (unadjusted) in active markets for identical or similar assets. In determining the fair value for equity securities in Level 2, the Company uses the market approach utilizing primary valuation inputs including reported trades, dealer quotes for identical or similar assets in markets that are not active, benchmark yields, credit spreads, reference data and industry and economic events. We did not have securities trading in less liquid or illiquid markets with limited or no pricing information, therefore we did not use unobservable inputs to measure fair value as of March 31, 2020 and December 31, 2019. Additionally, we did not have any assets or liabilities measured at fair value on a nonrecurring basis as of March 31, 2020 or December 31, 2019, and we noted no significant changes in our valuation methodologies between those periods. There were no changes to the Company’s valuation methodology and the Company is not aware of any events or circumstances that would have a significant adverse effect on the carrying value of its assets and liabilities measured at fair value as of March 31, 2020 and December 31, 2019. There were no transfers between the fair value hierarchy levels during the three months ended March 31, 2020 and 2019.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	5. INVESTMENTS Unrealized Gains and Losses The difference between amortized cost or cost and estimated fair value and gross unrealized gains and losses, by major investment category, consisted of the following: ໿ Amortized Gross Gross Cost Unrealized Unrealized or Cost Gains Losses Fair Value (In thousands) March 31, 2020 Debt securities - available-for-sale: United States government obligations and authorities $ 187,452 $ 8,924 $ 13 $ 196,363 Obligations of states and political subdivisions 21,935 400 37 22,298 Corporate 293,927 5,745 5,942 293,730 International 31,237 324 1,117 30,444 534,551 15,393 7,109 542,835 Debt securities - held-to-maturity: United States government obligations and authorities 3,555 53 65 3,543 Corporate 671 7 6 672 International 45 1 — 46 4,271 61 71 4,261 Total investments, excluding equity securities $ 538,822 $ 15,454 $ 7,180 $ 547,096 ໿ Amortized Gross Gross Cost Unrealized Unrealized or Cost Gains Losses Fair Value (In thousands) December 31, 2019 Debt securities - available-for-sale: United States government obligations and authorities $ 191,546 $ 3,073 $ 426 $ 194,193 Obligations of states and political subdivisions 23,748 294 22 24,020 Corporate 268,182 10,252 132 278,302 International 29,169 593 12 29,750 512,645 14,212 592 526,265 Debt securities - held-to-maturity: United States government obligations and authorities 3,585 12 39 3,558 Corporate 697 20 — 717 International 55 1 — 56 4,337 33 39 4,331 Total investments, excluding equity securities $ 516,982 $ 14,245 $ 631 $ 530,596 Net Realized and Unrealized Gains and Losses The Company calculates the gain or loss realized on the sale of investments by comparing the sales price (fair value) to the cost or amortized cost of the security sold. Net realized gains and losses on investments are determined in accordance with the specific identification method. Net realized and unrealized gains (losses) recognized in earnings, by major investment category, consisted of the following: ໿ Three Months Ended March 31, 2020 2019 (In thousands) Gross realized and unrealized gains: Debt securities $ 1,386 $ 317 Equity securities 319 2,830 Total gross realized and unrealized gains 1,705 3,147 Gross realized and unrealized losses: Debt securities (148) (400) Equity securities (4,382) (446) Total gross realized and unrealized losses (4,530) (846) Net realized and unrealized gains (losses) on investments $ (2,825) $ 2,301 The above line item, net realized and unrealized gains (losses) on investments, includes the following equity securities gains (losses) recognized in earnings: Three Months Ended March 31, 2020 2019 (In thousands) Net realized and unrealized gains (losses) $ (4,063) $ 2,384 Less: Net realized and unrealized gains (losses) on securities sold (635) 326 Net realized and unrealized gains (losses) recognized during the period still held as of the end-of-period $ (3,428) $ 2,058 Contractual Maturity Actual maturities may differ from contractual maturities because issuers may have the right to call or pre-pay obligations. Amortized cost and estimated fair value of debt securities, by contractual maturity, consisted of the following: ໿ March 31, 2020 Amortized Cost Fair Value Securities with Maturity Dates (In thousands) Debt securities, available-for-sale: One year or less $ 33,374 $ 33,413 Over one through five years 170,802 171,418 Over five through ten years 158,874 161,147 Over ten years 171,501 176,857 534,551 542,835 Debt securities, held-to-maturity: One year or less 285 286 Over one through five years 3,846 3,833 Over five through ten years 39 39 Over ten years 101 103 4,271 4,261 Total $ 538,822 $ 547,096 Net Investment Income Net investment income consisted of the following: ໿ Three Months Ended March 31, 2020 2019 (In thousands) Interest income $ 3,822 $ 3,657 Dividends income 70 53 Net investment income $ 3,892 $ 3,710 Aging of Gross Unrealized Losses Gross unrealized losses and related fair values for debt securities, grouped by duration of time in a continuous unrealized loss position, consisted of the following: ໿ Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) March 31, 2020 Debt securities - available-for-sale: United States government obligations and authorities $ 810 $ 1 $ 268 $ 12 $ 1,078 $ 13 Obligations of states and political subdivisions 5,544 37 — — 5,544 37 Corporate 117,591 5,754 — 188 117,591 5,942 International 13,330 1,079 132 38 13,462 1,117 137,275 6,871 400 238 137,675 7,109 Debt securities, held-to-maturity: United States government obligations and authorities — — 2,222 65 2,222 65 Corporate 235 6 — — 235 6 International — — — — — — 235 6 2,222 65 2,457 71 Total investments, excluding equity securities $ 137,510 $ 6,877 $ 2,622 $ 303 $ 140,132 $ 7,180 Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) December 31, 2019 Debt securities - available-for-sale: United States government obligations and authorities $ 49,833 $ 409 $ 2,218 $ 17 $ 52,051 $ 426 Obligations of states and political subdivisions 6,810 22 — — 6,810 22 Corporate 15,872 94 7,694 38 23,566 132 International 3,856 10 179 2 4,035 12 76,371 535 10,091 57 86,462 592 Debt securities, held-to-maturity: United States government obligations and authorities — — 2,287 39 2,287 39 Corporate — — — — — — International — — — — — — — — 2,287 39 2,287 39 Total investments, excluding equity securities $ 76,371 $ 535 $ 12,378 $ 96 $ 88,749 $ 631 As of March 31, 2020, the Company held a total of 522 debt securities that were in an unrealized loss position, of which 15 securities were in an unrealized loss position continuously for 12 months or more. As of December 31, 2019, the Company held a total of 203 debt securities that were in an unrealized loss position, of which 24 securities were in an unrealized loss position continuously for 12 months or more. The unrealized losses associated with these securities consisted primarily of losses related to corporate securities. Collateral Deposits

ORGANIZATION, CONSOLIDATION AND

ORGANIZATION, CONSOLIDATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION, CONSOLIDATION AND BASIS OF PRESENTATION	1. ORGANIZATION, CONSOLIDATION AND BASIS OF PRESENTATION Organization FedNat Holding Company (“FNHC,” the “Company,” “we,” “us,” or “our”) is a regional insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries and contractual relationships with independent agents and general agents. We, through our wholly owned subsidiaries, are authorized to underwrite and/or place homeowners multi-peril (“homeowners”), federal flood and other lines of insurance in Florida and other states. We market, distribute and service our own and third-party insurers’ products and other services through a network of independent and general agents. FedNat Insurance Company (“FNIC”), our largest wholly owned insurance subsidiary, is licensed as an admitted carrier to write homeowners property and casualty insurance by the state’s insurance departments, in Florida, Louisiana, Texas, Georgia, South Carolina, Alabama and Mississippi. Maison Insurance Company ("MIC"), an insurance subsidiary, is licensed as an admitted carrier to write homeowners property and casualty insurance as well as wind/hail-only exposures by the state's insurance departments in Louisiana, Texas and Florida. Monarch National Insurance Company (“MNIC”), an insurance subsidiary, is licensed as an admitted carrier to write homeowners property and casualty insurance in Florida. Material Distribution Relationships Ivantage Select Agency, Inc. The Company is a party to an insurance agency master agreement with Ivantage Select Agency, Inc. (“ISA”), an affiliate of Allstate Insurance Company (“Allstate”), pursuant to which the Company has been authorized by ISA to appoint Allstate agents to offer our FNIC homeowners insurance products to consumers in Florida. As a percentage of the total homeowners premiums we underwrote, 20.5% and 22.8% were from Allstate’s network of Florida agents, for the three months ended March 31, 2020 and 2019, respectively. SageSure Insurance Managers, LLC The Company is a party to a managing general underwriting agreement with SageSure Insurance Managers, LLC (“SageSure”) to facilitate growth in our FNIC homeowners business outside of Florida. As a percentage of the total homeowners premiums, 24.2% and 19.6% of the Company’s premiums were underwritten by SageSure, for the three months ended March 31, 2020 and 2019, respectively. As part of our partnership with SageSure, we entered into a profit share agreement, whereby we share 50% of net profits of this line of business, as calculated per the terms of the agreement, subject to certain limitations. The profit share cost is reflected in commissions and underwriting expenses on our consolidated statement of operations. Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of FNHC and its wholly-owned subsidiaries and all entities in which the Company has a controlling financial interest and any variable interest entity (“VIE”) of which the Company is the primary beneficiary. The Company’s management believes the consolidated financial statements reflect all material adjustments, including normal recurring adjustments, necessary to fairly state the financial position, results of operations and cash flows of the Company for the periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company identifies a VIE as an entity that does not have sufficient equity to finance its own activities without additional financial support or where the equity investors lack certain characteristics of a controlling financial interest. The Company assesses its contractual, ownership or other interests in a VIE to determine if the Company’s interest participates in the variability the VIE was designed to absorb and pass onto variable interest holders. The Company performs an ongoing qualitative assessment of its variable interests in a VIE to determine whether the Company has a controlling financial interest and would therefore be considered the primary beneficiary of the VIE. If the Company determines it is the primary beneficiary of a VIE, the Company consolidates the assets and liabilities of the VIE in its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SIGNIFICANT OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES Our significant accounting policies were described in Note 2 of our 2019 Form 10-K. Other than the changes noted in "Recently Issued Accounting Pronouncements, Adopted" below, there have been no significant changes in our significant accounting policies for the three months ended March 31, 2020. Accounting Estimates and Assumptions The Company prepares the accompanying consolidated financial statements in accordance with GAAP, which requires management to make estimates and assumptions about future events that affect the amounts reported in the financial statements and accompanying notes. Future events and their effects cannot be determined with absolute certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results may materially differ from those estimates. Similar to other property and casualty insurers, the Company’s liability for loss and loss adjustment expenses ("LAE") reserves, although supported by actuarial projections and other data, is ultimately based on management’s reasoned expectations of future events. Although considerable variability is inherent in these estimates, the Company believes that the liability and LAE reserve is adequate. The Company reviews and evaluates its estimates and assumptions regularly and makes adjustments, reflected in current operations, as necessary, on an ongoing basis. Recently Issued Accounting Pronouncements, Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which significantly changes the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The update requires entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as currently performed under the other-than-temporary impairment ("OTTI") model. The update also requires enhanced disclosures for financial assets measured at amortized cost and available-for-sale debt securities to help the financial statement users better understand significant judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. The Company adopted the guidance effective January 1, 2020, by reflecting a cumulative effect adjustment of less than $0.1 million, after-tax, which decreased retained earnings, held-to-maturity debt securities and reinsurance recoverable. Refer to Note 7 for additional information regarding allowances for credit loss. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . ASU 2018-15 requires a customer in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in Accounting Standards Codification 350-40 to determine which implementation costs to defer and recognize as an asset. The Company adopted the guidance effective January 1, 2020, which did not have any impact on the Company’s consolidated financial condition or results of operations. Recently Issued Accounting Pronouncements, Not Yet Adopted In January 2020, the FASB issued ASU 2020-1, Accounting for Equity Securities and Equity Investments, which clarifies the interaction between accounting standards related to equity securities (Topic 321), equity method investments (Topic 323), and certain derivatives (Topic 815). The update clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The update is effective for interim and annual reporting periods beginning after December 15, 2021, with early adoption permitted. The Company is in the early stage of evaluating the impact that the update will have on the Company’s consolidated financial position or results of operations.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS	3. ACQUISITIONS On December 2, 2019, the Company completed its acquisition of the insurance operations of 1347 Property Insurance Holdings, Inc. ("PIH"). Specifically, the Company purchased from PIH all of the outstanding equity of MIC, Maison Managers, Inc., and ClaimCor LLC (collectively, the "Maison Companies"). The Maison Companies provide multi-peril and wind/hail only coverage to personal residential dwellings and manufactured/mobile homes in Louisiana, Texas and Florida. The acquisition enables us to increase geographic diversification of our book of business outside Florida and generate additional business with operating synergies and general and administrative expense savings. Revenues and net income of the business acquired were $15.4 million and $1.7 million, respectively for the three months ended March 31, 2020. The following unaudited pro forma condensed consolidated statements of operations of the Company assume that the acquisition of the Maison Companies was completed on January 1, 2019: Three Months Ended March 31, 2019 (In thousands) Revenue $ 118,621 Net income (loss) (3,395) Pro forma adjustments include the revenue and net income (loss) of the Maison Companies for each period as well as estimates for amortization of identifiable intangible assets acquired and fair value adjustments associated with investments, VOBA (different than deferred acquisition costs) and reinsurance recoverable. Other pro forma adjustments include the incremental increase to interest expense attributable to financing the acquisition and the impact of reflecting acquisition and integration costs earlier in 2019. For more information regarding our acquisition, refer to Note 3 of our 2019 Form 10-K.

REINSURANCE

REINSURANCE	3 Months Ended
	Mar. 31, 2020
Reinsurance Disclosures [Abstract]
REINSURANCE	6. REINSURANCE Overview Reinsurance is used to mitigate the exposure to losses, manage capacity and protect capital resources. The Company reinsures (cedes) a portion of written premiums on an excess of loss or a quota-share basis in order to limit the Company’s loss exposure. To the extent that reinsuring companies are unable to meet their obligations assumed under these reinsurance agreements, the Company remains primarily liable to its policyholders. The Company is selective in choosing reinsurers and considers numerous factors, the most important of which is the financial stability of the reinsurer or capital specifically pledged to uphold the contract, its history of responding to claims and its overall reputation. In an effort to minimize the Company’s exposure to the insolvency of a reinsurer, the Company evaluates the acceptability and review the financial condition of the reinsurer at least annually with the assistance of the Company’s reinsurance broker. Significant Reinsurance Contracts 2018-2019 Excess of Loss Reinsurance Programs With the February 21, 2018 acquisition of the minority interests of MNIC, the Company combined both FNIC and MNIC under a single program allowing the Company to capitalize on efficiencies and scale. FNIC and MNIC’s combined 2018-2019 reinsurance program cost $148.8 million. This amount included $102.7 million for the private reinsurance for the Company’s exposure, including prepaid automatic premium reinstatement protection, along with $46.1 million payable to the FHCF. The combination of private and FHCF reinsurance treaties affords FNIC and MNIC $1.8 billion of aggregate coverage with a maximum single event coverage totaling $1.3 billion, exclusive of retentions. Both FNIC and MNIC maintained their FHCF participation at 75% for the 2018 hurricane season. FNIC’s single event pre-tax retention for a catastrophic event in Florida is $20.0 million, up slightly from the 2017-2018 reinsurance program and MNIC’s single event pre-tax retention for a catastrophic event is $3.0 million, down slightly from the 2017-2018 reinsurance program. The combined FNIC and MNIC private market excess of loss treaties, covering both Florida and non-Florida exposures, became effective July 1, 2018 and all private layers have prepaid automatic reinstatement protection, which afforded the Company additional coverage for subsequent events. These private market excess of loss treaties structure coverage into layers, with a cascading feature such that substantially all layers attach after $20.0 million in losses for FNIC and after $3.0 million in losses for MNIC. If the aggregate limit of the preceding layer is exhausted, the next layer drops down (cascades) in its place. Additionally, any unused layer protection drops down for subsequent events until exhausted. Given market conditions, FNIC has elected not to purchase any multiple year protection and terminated the second year of the $89.0 million of multiple year protection that FNIC purchased in 2017 on a two-year basis. FNIC also had $156.0 million of multiple year protection that expired on June 30, 2018. The overall reinsurance programs are with reinsurers that currently have an A.M. Best or Standard & Poor’s rating of “A-” or better, or have fully collateralized their maximum potential obligations in dedicated trusts. FNIC’s non-Florida excess of loss reinsurance treaties afforded us an additional $23.0 million of aggregate coverage with first event coverage totaling $5.0 million and second event coverage totaling $18.0 million, with the incremental $13.0 million of second event coverage applying to hurricane losses only. The end result is a non-Florida retention of $15.0 million for the first event and $2.0 million for the second event though these retentions are reduced to $7.5 million and $1.0 million after taking into account the profit-sharing agreement that FNIC has with the nonaffiliated managing general underwriter that writes FNIC non-Florida property business. FNIC’s non-Florida reinsurance program cost included $2.0 million for this private reinsurance, including prepaid automatic premium reinstatement protection. 2019-2020 Catastrophe Excess of Loss Reinsurance Program Given the December 2, 2019 acquisition of the Maison Companies, the Company and PIH agreed to combine FNIC, MNIC, and MIC under a single reinsurance program allowing the carriers to capitalize on efficiencies, spread of risk and scale. The combined reinsurance treaties provide approximately $1.3 billion of single-event reinsurance coverage in excess of a $27 million retention for catastrophic losses on the first event (and $15 million on the second and third events), including hurricanes, and aggregate coverage of $1.9 billion, at an approximate total cost of $224.3 million. The combined FNIC, MIC and MNIC private market excess of loss treaties, covering both Florida and non-Florida exposures, became effective July 1, 2019 and all private layers have prepaid automatic reinstatement protection, which affords the carriers additional coverage for subsequent events. This private market excess of loss treaty structure breaks coverage into layers, with a cascading feature such that substantially all layers attach after $20 million in losses for FNIC, $2 million in losses for MNIC and $5 million in losses for MIC. For FNIC and MNIC, the second and third event attaches at $10 million per event, on a combined basis. If the aggregate limit of the preceding layer is exhausted, the next layer drops down (cascades) in its place. Additionally, any unused layer protection drops down for subsequent events until exhausted. The overall reinsurance program is with reinsurers that currently have an A.M. Best Company or Standard & Poor’s rating of “A-” or better, or have fully collateralized their maximum potential obligations in dedicated trusts. As indicated above, FNIC, MIC and MNIC's combined 2019-2020 reinsurance program is estimated to cost $224.3 million. This amount includes approximately $178.9 million for private reinsurance for the carriers’ exposure described above, including prepaid automatic premium reinstatement protection, along with approximately $45.9 million payable to the FHCF. The combination of private and FHCF reinsurance treaties affords FNIC, MNIC, and MIC approximately $1.9 billion of aggregate coverage with a maximum single event coverage totaling approximately $1.3 billion, exclusive of retentions. Each carrier will pay directly its allocated portion of the aggregate reinsurance ceded premium cost. The allocation methodology by which FNIC, MNIC, and MIC determines their share of the premium and distribution of reinsurance recoveries under the combined reinsurance tower is based on catastrophe loss modeling of the separate books of business. Each carrier shares the combined program cost in proportion to its contribution to the total expected loss in each reinsurance layer. Each carrier's reinsurance recoveries will be based on that carrier's contributing share of a given event's total loss. Both FNIC and MNIC maintained their FHCF participation at 75% for the 2019 hurricane season, and MIC increased its FHCF participation to 90%. FNIC’s non-Florida excess of loss reinsurance treaty affords us an additional $18 million of coverage for a second event, which applies to hurricane losses only. The result is a non-Florida retention of $20 million for FNIC for the first event and $2 million for the second event, although these retentions are reduced to $10 million and $1 million after taking into account the profit-sharing agreement that FNIC has with the non-affiliated managing general underwriter that writes FNIC’s non-Florida property business. FNIC’s non-Florida reinsurance program cost for the above specific coverage approximates $1.8 million for this private reinsurance. The insurance carriers’ cost and amounts of reinsurance are based on current analysis of exposure to catastrophic risk. The data is subjected to exposure level analysis at various dates through December 31, 2019. This analysis of the carriers’ exposure level in relation to the total exposures to the FHCF and excess of loss treaties may produce changes in retentions, limits and reinsurance premiums in total, and by carrier, as a result of increases or decreases in the carriers’ exposure levels. Quota-Share Reinsurance Programs FNIC's reinsurance programs also include quota-share treaties. One such treaty for 30% became effective July 1, 2014, and another for 10% became effective on July 1, 2015 with each running for two years. The combined treaties provided up to a 40% quota-share reinsurance on covered losses for the homeowners’ property and liability insurance program in Florida. The treaties are accounted for as retrospectively rated contracts whereby the estimated ultimate premium or commission is recognized over the period of the contracts. On July 1, 2016, the 30% quota-share treaty expired on a cut-off basis, which means as of that date the Company retained an incremental 30% of its unearned premiums and losses. On July 1, 2017, the 10% quota-share treaty expired on a cut-off basis, which means as of that date we retained an incremental 10% of the underlying unearned premiums and losses. The reinsurers remain liable for the paid losses occurring during the terms of the treaties, until each treaty is commuted. On July 1, 2017, FNIC bound a 10% quota-share on its Florida homeowners book of business, which excluded named storms, subject to certain limitations. This treaty is not subject to accounting as a retrospectively rated contract. This treaty expired on July 1, 2018 on a cut-off basis, meaning that the reinsurer will not be liable (under this agreement) for losses as a result of occurrences taking place after the date of termination, and the unearned premium previously ceded was returned to FNIC. On July 1, 2018, FNIC renewed the quota-share treaty on its Florida homeowners book of business, on an in-force, new and renewal basis, excluding named storms, which was initially set at a 2%, cession and is subject to certain limitations. In addition, this quota-share allowed FNIC to prospectively increase or decrease the cession percentage up to three times during the term of the agreement. Effective October 1, 2018, FNIC elected to increase the cession percentage from 2% to 10% on an in-force, new and renewal basis. The treaty expired on July 1, 2019 on a cut-off basis, meaning that the reinsurer will not be liable (under this agreement) for losses as a result of occurrences taking place after the date of termination, and the unearned premium previously ceded was returned to FNIC. On July 1, 2019, FNIC renewed the quota-share treaty on its Florida homeowners book of business, on an in-force, new and renewal basis, excluding named storms, which was set at a 10% cession and is subject to certain limitations. In addition, this quota-share allows FNIC the flexibility to prospectively increase or decrease the cession percentage up to three times during the term of the agreement. The Company’s private passenger automobile quota-share treaties are programs which became effective at different points in the year and cover auto policies across several states. Associated Trust Agreements Certain reinsurance agreements require FNIC to secure the credit, regulatory and business risk. Fully funded trust agreements securing these risks totaled less than $0.1 million as of March 31, 2020 and December 31, 2019. Reinsurance Recoverable, Net Amounts recoverable from reinsurers are recognized in a manner consistent with the claims liabilities associated with the reinsurance placement and presented on the consolidated balance sheet as reinsurance recoverable. Reinsurance recoverable, net consisted of the following: ໿ March 31, December 31, 2020 2019 (In thousands) Reinsurance recoverable on paid losses $ 48,544 $ 45,186 Reinsurance recoverable on unpaid losses 212,606 164,429 Reinsurance recoverable, net $ 261,150 $ 209,615 As of March 31, 2020, and December 31, 2019, the Company had reinsurance recoverable of $210.5 million and $163.7 million, respectively as a result of Hurricanes Michael and Irma. All reinsurers in our excess-of-loss reinsurance programs have an A.M. Best or Standard & Poor’s rating of “A-“ or better, or have fully collateralized their maximum potential obligations in dedicated trusts. Net Premiums Written and Net Premiums Earned Net premiums written and net premiums earned consisted of the following: ໿ ໿ Three Months Ended March 31, 2020 2019 (In thousands) Net Premiums Written Direct $ 172,962 $ 132,233 Ceded (13,766) (11,793) $ 159,196 $ 120,440 Net Premiums Earned Direct $ 175,574 $ 138,367 Ceded (69,664) (49,583) $ 105,910 $ 88,784

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
ALLOWANCE FOR CREDIT LOSSES	7. ALLOWANCES FOR CREDIT LOSS Overview There is significant risk and judgment involved in determining estimates of our allowances for credit loss, which reduce the amortized cost of an asset to produce an estimate of the net amount that will be collected over the asset's contractual life. Longer time horizons generally present more uncertainty in expected cash flow. We evaluate the expected credit loss of assets on an individual basis, except in cases where assets collectively share similar risk characteristics where we pool them together. We evaluate and estimate our allowances for credit loss by considering reasonable, relevant and supportable available information. Activity in the allowances for credit loss, by asset line item on the consolidated balance sheet, is summarized as follows: Debt Securities, Reinsurance Held-to- Premiums Recoverable, Maturity Receivable Net Total (In thousands) Balance as of December 31, 2019 $ — $ 159 $ — $ 159 Cumulative effect of new accounting standard (1) 1 — 32 33 Credit loss expense (recovery) (2) 1 30 21 52 Balance as of March 31, 2020 $ 2 $ 189 $ 53 $ 244 (1) Refer to Note 2 above for information about our adoption of ASU 2016-13 on January 1, 2020. (2) Reflected in commissions and other underwriting expenses on the consolidated statements of comprehensive income (loss). Accrued investment income is included in other assets on the consolidated balance sheet. We immediately write-off accrued investment income if it becomes uncollectible, therefore we do not measure or record an allowance for credit losses. Investments Our investment policy is established by the Board of Directors’ Investment Committee and is reviewed on a regular basis. This policy currently limits investment in non-investment-grade debt securities (including high-yield bonds), and limits total investments in preferred stock, common stock and mortgage notes receivable. We also comply with applicable laws and regulations that further restrict the type, quality and concentration of our investments. We do not use any swaps, options, futures or forward contracts to hedge or enhance our investment portfolio. Our investment portfolio has inherent risks because it contains volatility associated with market pricing and interest rate sensitive instruments, such as bonds, which may be adversely affected by changes in interest rates or credit worthiness. The effects of market volatility, declining economic conditions, such as a U.S. or global economic slowdown, whether due to COVID-19, or other factors, could adversely impact the credit quality of securities in our portfolio and may have unforeseen consequences on the liquidity and financial stability of the issuers of securities we hold. Our debt securities portfolio includes securities that: • Are explicitly guaranteed by a sovereign entity that can print its own currency; • The currency is routinely held by central banks, used in international commerce and commonly viewed as a reserve currency; and • Have experienced a consistent high credit rating by rating agencies and a long history with no credit losses. We believe if these governments were to technically default it is reasonable to assume an expectation of immaterial losses, even in the current strained market conditions. Refer to Note 5 above for the balances of these sovereign debt securities, which are reported in the following investment categories: • United States government obligations and authorities; • Obligations of states and political subdivisions; and • International. For our debt securities, available-for-sale, the fact that a security’s fair value is below its amortized cost is not a decisive indicator of credit loss. In many cases, a security’s fair value may decline due to factors that are unrelated to the issuer’s ability to pay. For this reason, we consider the extent to which fair value is below amortized cost in determining whether a credit-related loss exists. The Company also considers the credit quality rating of the security, with a special emphasis on securities downgraded below investment grade. A comparison is made between the present value of expected future cash flows for a security and its amortized cost. If the present value of future expected cash flows is less than amortized cost, a credit loss is presumed to exist and an allowance for credit losses is established. Management may conclude that a qualitative analysis is sufficient to support its conclusion that the present value of the expected cash flows equals or exceeds a security’s amortized cost. As a result of this review, management concluded that there were no credit-related impairments of our available-for-sale securities as of January 1, 2020, and March 31, 2020. Management does not intend to sell available-for-sale securities in an unrealized loss position, and it is not “more likely than not” that the Company will be required to sell these securities before a recovery in their value to their amortized cost basis occurs. Our equity investments are measured at fair value through net income (loss), therefore they do not require an allowance for credit loss. We measure and record our valuation allowances for credit losses on our held-to-maturity corporate securities assets by multiplying the probability the asset would default within a given timeframe (“PD”) by the percentage of the asset not expected to be collected upon default, or loss given default (“LGD”), and multiplying that percentage by the amortized cost of the asset. We use market observable data for our PD and LGD assumptions. Premiums Receivable We do have collectability risk, but our homeowners policy terms are one year or less and our policyholders are dispersed throughout the southeast United States, although the majority of our policyholders are located in Florida. We write-off premiums receivable if the individual policy becomes uncollectible. Because collectively our premiums receivable share similar risk characteristics, we pool them to measure our valuation allowance for credit losses using an aging method approach. This method applies historical loss rates to levels of delinquency for our policy terms that are one year or less. Based upon historical collectability, adjusted for current and future economic conditions, we have measured and recorded our valuation allowances for premiums receivable. The aging of our premiums receivable and associated allowance for credit loss as of March 31, 2020 was as follows: Days Past Due Current 1-29 30-59 60-89 90 plus 0 Total (In thousands) Amortized cost $ 35,822 $ 2,507 $ 29 $ 9 $ 159 $ 38,526 Allowance for credit loss — (26) (1) (3) (159) (189) Net $ 35,822 $ 2,481 $ 28 $ 6 $ — $ 38,337 Reinsurance Recoverable Refer to Note 6 above for details of our efforts to minimize our exposure to losses from a reinsurer’s inability to pay. We measure and record our valuation allowances for credit losses on our reinsurance recoverables asset by multiplying the PD by the LGD and multiplying the result by the amortized cost of the asset. We use market observable data for our PD and LGD assumptions, and in cases where we are unable to observe LGD, we assume it is 100%.

LOSS AND LOSS ADJUSTMENT RESERV

LOSS AND LOSS ADJUSTMENT RESERVES	3 Months Ended
	Mar. 31, 2020
Liability for Future Policy Benefit, before Reinsurance [Abstract]
LOSS AND LOSS ADJUSTMENT RESERVES	8. LOSS AND LOSS ADJUSTMENT RESERVES The liability for loss and LAE reserves is determined on an individual-case basis for all claims reported. The liability also includes amounts for unallocated expenses, anticipated future claim development and incurred but not reported ("IBNR"). Activity in the liability for loss and LAE reserves is summarized as follows: Three Months Ended March 31, 2020 2019 (In thousands) Gross reserves, beginning-of-period $ 324,362 $ 296,230 Less: reinsurance recoverable (1) (164,429) (166,396) Net reserves, beginning-of-period 159,933 129,834 Incurred loss, net of reinsurance, related to: Current year 69,365 67,048 Prior year loss development (redundancy) (2) (117) 721 Ceded losses subject to offsetting experience account adjustments (3) (295) (930) Prior years (412) (209) Amortization of acquisition fair value adjustment (23) — Total incurred loss and LAE, net of reinsurance 68,930 66,839 Paid loss, net of reinsurance, related to: Current year 13,371 14,868 Prior years 52,423 41,974 Total paid loss and LAE, net of reinsurance 65,794 56,842 Net reserves, end-of-period 163,069 139,831 Plus: reinsurance recoverable (1) 212,606 234,293 Gross reserves, end-of-period $ 375,675 $ 374,124 (1) Reinsurance recoverable in this table includes only ceded loss and LAE reserves. (2) Reflects loss development from prior accident years impacting pre-tax net income. Excludes losses ceded under retrospective reinsurance treaties to the extent there is an offsetting experience account adjustment. (3) Reflects losses ceded under retrospective reinsurance treaties to the extent there is an offsetting experience account adjustment, such that there is no impact on pre-tax net income (loss). The establishment of loss reserves is an inherently uncertain process and changes in loss reserve estimates are expected as such estimates are subject to the outcome of future events. The factors influencing changes in claim costs are often difficult to isolate or quantify and developments in paid and incurred losses from historical trends are frequently subject to multiple interpretations. Changes in estimates, or differences between estimates and amounts ultimately paid, are reflected in the operating results of the period during which such adjustments are made. During the three months ended March 31, 2020, the Company experienced $0.1 million of favorable loss and LAE reserve development on prior accident years, which consists of redundancy in the homeowners line of business as a result of lower LAE expenses associated primarily with Hurricane Irma, mostly offset by adverse development in its commercial general liability line of business. During the three months ended March 31, 2019, the Company experienced $0.7 million of favorable loss and LAE reserve redundancy in accident year 2017. The redundancy was the result of lower LAE expenses associated primarily with Hurricane Irma.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT	9. LONG-TERM DEBT Refer to Note 8 of our 2019 Form 10-K for information regarding our long-term debt.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	10. INCOME TAXES In response to COVID-19, the Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act,” was signed into law on March 27, 2020. The CARES Act contains several relief provisions for corporations and lifts certain deduction limitations originally imposed by the Tax Cut and Jobs Act. The CARES Act, among other things, includes temporary changes regarding the prior and future utilization of net operating losses (“NOL”), temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes and the creation of certain refundable employee retention credits. The Company has been evaluating the various provisions of the CARES Act. As described below, the Company did utilize the NOL provision in the first quarter of 2020. Our effective income tax rate is the ratio of income tax expense (benefit) over our income (loss) before income taxes. The effective income tax rate was 5.4% and 26.2% for the three months ended March 31, 2020 and 2019, respectively. Differences in the effective tax and the statutory Federal income tax rate of 21% are driven by state income taxes and anticipated annual permanent differences, including estimates for tax-exempt interest, dividends received deduction, and executive compensation as well as NOL carrybacks from the impact of the CARES Act. The Company had an uncertain tax position of $0.4 million as of March 31, 2020 and December 31, 2019. The Company does not have a valuation allowance on its deferred income tax asset as of March 31, 2020 and December 31, 2019.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES Litigation and Legal Proceedings In the ordinary course of business, the Company is involved in various legal proceedings, specifically claims litigation. The Company’s insurance subsidiaries participate in most of these proceedings by either defending third-party claims brought against insureds or litigating first-party coverage claims. The Company accounts for such activity through the establishment of loss and LAE reserves. The Company’s management believes that the ultimate liability, if any, with respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, is immaterial to the Company’s consolidated financial statements. The Company is also occasionally involved in other legal and regulatory proceedings, some of which may assert claims for substantial amounts, making the Company party to individual actions in which extra contractual damages, punitive damages or penalties, such as claims alleging bad faith in the handling of insurance claims, are sought. The Company reviews the outstanding matters, if any, on a quarterly basis. The Company accrues for estimated losses and contingent obligations in the consolidated financial statements if and when the obligation or potential loss from any litigation, legal proceeding or claim is considered probable and the amount of the potential exposure is reasonably estimable. The Company records such probable and estimable losses, through the establishment of legal expense reserves. As events evolve, facts concerning litigation and contingencies become known and as additional information becomes available, the Company’s management reassesses its potential liabilities related to pending claims and litigation and may revise its previous estimates and make appropriate adjustment to the financial statements. Estimates that require judgment are subject to change and are based on management’s assessment, including the advice of legal counsel, the expected outcome of litigation and legal proceedings or other dispute resolution proceedings or the expected resolution of contingencies. The Company’s management believes that the Company’s accruals for probable and estimable losses are reasonable and that the amounts accrued do not have a material effect on the Company’s consolidated financial statements. Assessment Related Activity The Company operates in a regulatory environment where certain entities and organizations have the authority to require us to participate in assessments. Currently these entities and organizations include: Florida Insurance Guaranty Association (“FIGA”), Citizens Property Insurance Corporation (“Citizens”), FHCF, Georgia Insurers Insolvency Pool (“GIIP”), Special Insurance Fraud Fund (“SIIF”), Fair Access to Insurance Requirements Plan (“FAIRP”), Property Insurance Association of Louisiana (“PIAL”), South Carolina Property & Casualty Insurance Guaranty Association (“SCPCIGA”), Texas Property and Casualty Insurance Guaranty Association (“TPCIGA”), Texas Windstorm Insurance Association (“TWIA”), Alabama Insurance Guaranty Association (“AIGA”), and Alabama Insurance Underwriters Association (“AIUA”). As a direct premium writer, we are required to participate in certain insurer solvency associations under the applicable laws in the states in which we do business. In connection with its automobile line of business, which is currently winding down, FNIC is also required to participate in an insurance apportionment plan under Florida law, which is referred to as a JUA Plan. The JUA Plan provides for the equitable apportionment of any profits realized, or losses and expenses incurred, among participating automobile insurers. In the event of an underwriting deficit incurred by the JUA Plan, which is not recovered through the policyholders in the JUA Plan, such deficit shall be recovered from the companies participating in the JUA Plan in the proportion that the net direct written premiums of each such member during the preceding calendar year bear to the aggregate net direct premiums written in this state by all members of the JUA Plan. There were no material assessments by the JUA Plan as of December 31, 2019. Future assessments by the JUA and the JUA Plan are indeterminable at this time. Leases The Company is committed under various operating lease agreements for office space. The right-of-use asset is reflected in other assets and the lease liability is reflected in other liabilities on our consolidated balance sheets. Lease expense, net of sublease income is reflected in general and administrative expenses on our consolidated statements of operations. Additional information related to our operating lease agreement for office space consisted of the following: March 31, 2020 (In thousands) Right-of-use asset $ 7,938 Accrued rent (216) Right-of-use asset, net $ 7,722 Lease liability $ 7,938 Weighted average discount rate 4.70 % Weighted average remaining years of lease term 8.4 Three Months Ended March 31, 2020 2019 (In thousands) Lease expense $ 280 $ 260 Sublease income (155) — Lease expense, net $ 125 $ 260 Net cash provided by (used in) operating activities $ (89) $ (137) The interest rates implicit in our leases were not known, therefore the weighted-average discount rate above was determined by what FedNat would have had to pay to borrow the lease payments in a similar economic environment that existed at inception of our leases while considering our general credit and the theoretical collateral of the office space. In the event of a change to lease term, the Company would re-evaluate all inputs and assumptions, including the discount rate.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
SHAREHOLDERS' EQUITY	12. SHAREHOLDERS' EQUITY Common Stock Repurchases The Company may repurchase shares in open market transactions in accordance with Rule 10b-18 or under Rule 10b5-1 of the Exchange Act from time to time in its discretion, based on ongoing assessments of the Company’s capital needs, the market price of its common stock and general market conditions. The amount and timing of all repurchase transactions are contingent upon market conditions, applicable legal requirements and other factors. In December 2019, the Company’s Board of Directors authorized a share repurchase program under which the Company may repurchase up to $10.0 million of its outstanding shares of common stock from January 1, 2020 through December 31, 2020. In March 2020, the Company’s Board of Directors authorized an additional $10.0 million increase to the share repurchase program. This increased authorization will allow the Company to purchase up to $20 million of shares outstanding through December 31, 2020. During the three months ended March 31, 2020, the Company repurchased 523,583 shares of its common stock at a total cost of $6.8 million, which is an average price per share of $12.89. As of March 31, 2020, the remaining availability for future repurchases of our common stock under this program was $13.2 million. As of the filing of this report, the remaining availability of our common stock under this program was $10.0 million. Securities Offerings In June 2018, the Company filed with the Securities and Exchange Commission (“SEC”) on Form S-3, a shelf registration statement enabling the Company to offer and sell, from time to time, up to an aggregate of $150.0 million of securities. No securities have been offered or sold under this registration statement. Share-Based Compensation Expense Share-based compensation arrangements include the following: ໿ Three Months Ended March 31, 2020 2019 (In thousands) Restricted stock $ 353 $ 494 Performance stock 100 181 Total share-based compensation expense $ 453 $ 675 Recognized tax benefit $ 111 $ 171 Intrinsic value of options exercised 2 — Fair value of restricted stock vested 1,032 927 The intrinsic value of options exercised represents the difference between the stock option exercise price and the weighted average closing stock price of FNHC common stock on the exercise dates, as reported on the NASDAQ Global Market. Stock Option Awards A summary of the Company’s stock option activity includes the following: ໿ Number of Shares Weighted Average Option Exercise Price Outstanding at January 1, 2020 38,850 $ 3.80 Granted — — Exercised (100) 3.30 Cancelled — — Outstanding at March 31, 2020 38,750 $ 3.81 Restricted Stock Awards The Company recognizes share-based compensation expense for all restricted stock awards (“RSAs”) held by the Company’s directors, executives and other key employees. For all RSA awards, excluding grants based on total relative shareholder return ("TSR"), the accounting charge is measured at the grant date as the fair value of FNHC common stock and expensed as non-cash compensation over the vesting term using the straight-line basis for service awards and over successive one-year requisite service periods for performance-based awards. Our expense for our performance awards depends on achievement of specified results; therefore, the ultimate expense can range from 0% to 250% of target. Our TSR-based cliff vesting awards contain performance criteria which are tied to the achievement of certain market conditions. The TSR grant date fair value was determined using a Monte Carlo simulation and, unlike the performance condition awards, the expense is not reversed if the performance condition is not met. This value is recognized as expense over the requisite service period using the straight-line recognition method. During the three months ended March 31, 2020 and 2019, the Board of Directors granted 210,272 and 140,156 RSAs, respectively, vesting over three RSA activity includes the following: Number of Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2020 255,345 $ 17.82 Granted 210,272 11.82 Vested (58,633) 17.59 Cancelled (15,990) 18.24 Outstanding at March 31, 2020 390,994 $ 14.62 The weighted average grant date fair value is measured using the closing price of FNHC common stock on the grant date, as reported on the NASDAQ Global Market. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) associated with debt securities - available-for-sale consisted of the following: ໿ Three Months Ended March 31, 2020 2019 Before Tax Income Tax Net Before Tax Income Tax Net (In thousands) Accumulated other comprehensive income (loss), beginning-of-period $ 13,621 $ (3,340) $ 10,281 $ (5,023) $ 1,273 $ (3,750) Other comprehensive income (loss) before reclassification (4,098) 1,004 (3,094) 11,528 (2,922) 8,606 Reclassification adjustment for realized losses (gains) included in net income (1,238) 304 (934) (2,301) 583 (1,718) (5,336) 1,308 (4,028) 9,227 (2,339) 6,888 Accumulated other comprehensive income (loss), end-of-period $ 8,285 $ (2,032) $ 6,253 $ 4,204 $ (1,066) $ 3,138

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	13. EARNINGS PER SHARE Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period, including vested restricted stock awards during the period. Diluted EPS is computed by dividing net income by the weighted average number of shares outstanding, noted above, adjusted for the dilutive effect of stock options and unvested restricted stock awards. Dilutive securities are common stock equivalents that are freely exercisable into common stock at less than market prices or otherwise dilute earnings if converted. The net effect of common stock equivalents is based on the incremental common stock that would be issued upon the assumed exercise of common stock options and the vesting of RSAs using the treasury stock method. Common stock equivalents are not included in diluted earnings per share when their inclusion is antidilutive. The following table presents the calculation of basic and diluted EPS: Three Months Ended March 31, 2020 2019 (In thousands, except per share data) Net income (loss) attributable to FedNat Holding Company shareholders $ 2,133 $ (3,865) Weighted average number of common shares outstanding - basic 14,249 12,795 Net income (loss) per common share - basic $ 0.15 $ (0.30) Weighted average number of common shares outstanding - basic 14,249 12,795 Dilutive effect of stock compensation plans 63 — Weighted average number of common shares outstanding - diluted 14,312 12,795 Net income (loss) per common share - diluted $ 0.15 $ (0.30) Dividends per share $ 0.09 $ 0.08 Dividends Declared In February 2020, our Board of Directors declared a $0.09 per common share dividend, payable in March 2020, to shareholders of record on February 14, 2020, amounting to $1.3 million.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	14. SUBSEQUENT EVENTS Dividends Declared Refer to Note 13 above for information related to our dividend declared in April 2020. Severe Weather Events In the month of April 2020, five catastrophe events were cataloged by Property Claim Services in the states in which the Company writes property business. These events consisted of hail and wind related storms in the states of Texas, Louisiana, Florida and other states. As of the date of this report, we have 1,417 reported claims and $15.2 million gross incurred losses across all of our states that we do business in and across all three insurance carriers for these five severe weather events. Additionally, $6.3 million of the total $15.2 million gross incurred losses are from FNIC’s non-Florida business, which will be subject to a 50% profit-sharing arrangement with the non-affiliated managing general underwriter that writes this business. Due to the recency of these events, the Company has not yet produced an estimate on the full financial impact of these severe weather events. An elevated level of severe weather events is not uncommon in the southeast United States during the second quarter. The Company’s catastrophic reinsurance protection in place through June 30, 2020 provides coverage on each event if covered gross losses thereon exceed $20 million for FNIC’s Florida and/or non-Florida business. The retention amounts are $5 million and $3 million for MIC and MNIC’s businesses, respectively.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Material Distribution Relationships	Material Distribution Relationships Ivantage Select Agency, Inc. The Company is a party to an insurance agency master agreement with Ivantage Select Agency, Inc. (“ISA”), an affiliate of Allstate Insurance Company (“Allstate”), pursuant to which the Company has been authorized by ISA to appoint Allstate agents to offer our FNIC homeowners insurance products to consumers in Florida. As a percentage of the total homeowners premiums we underwrote, 20.5% and 22.8% were from Allstate’s network of Florida agents, for the three months ended March 31, 2020 and 2019, respectively. SageSure Insurance Managers, LLC The Company is a party to a managing general underwriting agreement with SageSure Insurance Managers, LLC (“SageSure”) to facilitate growth in our FNIC homeowners business outside of Florida. As a percentage of the total homeowners premiums, 24.2% and 19.6% of the Company’s premiums were underwritten by SageSure, for the three months ended March 31, 2020 and 2019, respectively. As part of our partnership with SageSure, we entered into a profit share agreement, whereby we share 50% of net profits of this line of business, as calculated per the terms of the agreement, subject to certain limitations. The profit share cost is reflected in commissions and underwriting expenses on our consolidated statement of operations.
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of FNHC and its wholly-owned subsidiaries and all entities in which the Company has a controlling financial interest and any variable interest entity (“VIE”) of which the Company is the primary beneficiary. The Company’s management believes the consolidated financial statements reflect all material adjustments, including normal recurring adjustments, necessary to fairly state the financial position, results of operations and cash flows of the Company for the periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company identifies a VIE as an entity that does not have sufficient equity to finance its own activities without additional financial support or where the equity investors lack certain characteristics of a controlling financial interest. The Company assesses its contractual, ownership or other interests in a VIE to determine if the Company’s interest participates in the variability the VIE was designed to absorb and pass onto variable interest holders. The Company performs an ongoing qualitative assessment of its variable interests in a VIE to determine whether the Company has a controlling financial interest and would therefore be considered the primary beneficiary of the VIE. If the Company determines it is the primary beneficiary of a VIE, the Company consolidates the assets and liabilities of the VIE in its consolidated financial statements.
Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of FNHC and its wholly-owned subsidiaries and all entities in which the Company has a controlling financial interest and any variable interest entity (“VIE”) of which the Company is the primary beneficiary. The Company’s management believes the consolidated financial statements reflect all material adjustments, including normal recurring adjustments, necessary to fairly state the financial position, results of operations and cash flows of the Company for the periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company identifies a VIE as an entity that does not have sufficient equity to finance its own activities without additional financial support or where the equity investors lack certain characteristics of a controlling financial interest. The Company assesses its contractual, ownership or other interests in a VIE to determine if the Company’s interest participates in the variability the VIE was designed to absorb and pass onto variable interest holders. The Company performs an ongoing qualitative assessment of its variable interests in a VIE to determine whether the Company has a controlling financial interest and would therefore be considered the primary beneficiary of the VIE. If the Company determines it is the primary beneficiary of a VIE, the Company consolidates the assets and liabilities of the VIE in its consolidated financial statements.
Accounting Estimates and Assumptions	Accounting Estimates and Assumptions The Company prepares the accompanying consolidated financial statements in accordance with GAAP, which requires management to make estimates and assumptions about future events that affect the amounts reported in the financial statements and accompanying notes. Future events and their effects cannot be determined with absolute certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results may materially differ from those estimates. Similar to other property and casualty insurers, the Company’s liability for loss and loss adjustment expenses ("LAE") reserves, although supported by actuarial projections and other data, is ultimately based on management’s reasoned expectations of future events. Although considerable variability is inherent in these estimates, the Company believes that the liability and LAE reserve is adequate. The Company reviews and evaluates its estimates and assumptions regularly and makes adjustments, reflected in current operations, as necessary, on an ongoing basis.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements, Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which significantly changes the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The update requires entities to record allowances for available-for-sale debt securities rather than reduce the carrying amount, as currently performed under the other-than-temporary impairment ("OTTI") model. The update also requires enhanced disclosures for financial assets measured at amortized cost and available-for-sale debt securities to help the financial statement users better understand significant judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. The Company adopted the guidance effective January 1, 2020, by reflecting a cumulative effect adjustment of less than $0.1 million, after-tax, which decreased retained earnings, held-to-maturity debt securities and reinsurance recoverable. Refer to Note 7 for additional information regarding allowances for credit loss. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . ASU 2018-15 requires a customer in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in Accounting Standards Codification 350-40 to determine which implementation costs to defer and recognize as an asset. The Company adopted the guidance effective January 1, 2020, which did not have any impact on the Company’s consolidated financial condition or results of operations. Recently Issued Accounting Pronouncements, Not Yet Adopted In January 2020, the FASB issued ASU 2020-1, Accounting for Equity Securities and Equity Investments, which clarifies the interaction between accounting standards related to equity securities (Topic 321), equity method investments (Topic 323), and certain derivatives (Topic 815). The update clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The update is effective for interim and annual reporting periods beginning after December 15, 2021, with early adoption permitted. The Company is in the early stage of evaluating the impact that the update will have on the Company’s consolidated financial position or results of operations.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Business Acquisition, Pro Forma Information	The following unaudited pro forma condensed consolidated statements of operations of the Company assume that the acquisition of the Maison Companies was completed on January 1, 2019: Three Months Ended March 31, 2019 (In thousands) Revenue $ 118,621 Net income (loss) (3,395)

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The Company’s financial instruments measured at fair value on a recurring basis and the level of the fair value hierarchy of inputs used consisted of the following: March 31, 2020 Level 1 Level 2 Level 3 Total (In thousands) Debt securities - available-for-sale, at fair value: United States government obligations and authorities $ 66,033 $ 130,330 $ — $ 196,363 Obligations of states and political subdivisions — 22,298 — 22,298 Corporate securities — 293,730 — 293,730 International securities — 30,444 — 30,444 Debt securities, at fair value 66,033 476,802 — 542,835 Equity securities, at fair value 13,720 3,604 — 17,324 Total investments, at fair value $ 79,753 $ 480,406 $ — $ 560,159 ໿ December 31, 2019 Level 1 Level 2 Level 3 Total (In thousands) Debt securities - available-for-sale, at fair value: United States government obligations and authorities $ 83,764 $ 110,429 $ — $ 194,193 Obligations of states and political subdivisions — 24,020 — 24,020 Corporate securities — 278,302 — 278,302 International securities — 29,750 — 29,750 Debt securities, at fair value 83,764 442,501 — 526,265 Equity securities, at fair value 17,361 2,678 — 20,039 Total investments, at fair value $ 101,125 $ 445,179 $ — $ 546,304
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	Held-to-maturity debt securities reported on the consolidated balance sheets at amortized cost and disclosed at fair value below (and in Note 5) and the level of fair value hierarchy of inputs used consisted of the following: Level 1 Level 2 Level 3 Total (In thousands) March 31, 2020 $ 3,439 $ 822 $ — $ 4,261 December 31, 2019 3,453 878 — 4,331

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Unrealized Gain (Loss) on Investments	The difference between amortized cost or cost and estimated fair value and gross unrealized gains and losses, by major investment category, consisted of the following: ໿ Amortized Gross Gross Cost Unrealized Unrealized or Cost Gains Losses Fair Value (In thousands) March 31, 2020 Debt securities - available-for-sale: United States government obligations and authorities $ 187,452 $ 8,924 $ 13 $ 196,363 Obligations of states and political subdivisions 21,935 400 37 22,298 Corporate 293,927 5,745 5,942 293,730 International 31,237 324 1,117 30,444 534,551 15,393 7,109 542,835 Debt securities - held-to-maturity: United States government obligations and authorities 3,555 53 65 3,543 Corporate 671 7 6 672 International 45 1 — 46 4,271 61 71 4,261 Total investments, excluding equity securities $ 538,822 $ 15,454 $ 7,180 $ 547,096 ໿ Amortized Gross Gross Cost Unrealized Unrealized or Cost Gains Losses Fair Value (In thousands) December 31, 2019 Debt securities - available-for-sale: United States government obligations and authorities $ 191,546 $ 3,073 $ 426 $ 194,193 Obligations of states and political subdivisions 23,748 294 22 24,020 Corporate 268,182 10,252 132 278,302 International 29,169 593 12 29,750 512,645 14,212 592 526,265 Debt securities - held-to-maturity: United States government obligations and authorities 3,585 12 39 3,558 Corporate 697 20 — 717 International 55 1 — 56 4,337 33 39 4,331 Total investments, excluding equity securities $ 516,982 $ 14,245 $ 631 $ 530,596
Net Realized Gains (Losses) by Major Investment Category	Net realized and unrealized gains (losses) recognized in earnings, by major investment category, consisted of the following: ໿ Three Months Ended March 31, 2020 2019 (In thousands) Gross realized and unrealized gains: Debt securities $ 1,386 $ 317 Equity securities 319 2,830 Total gross realized and unrealized gains 1,705 3,147 Gross realized and unrealized losses: Debt securities (148) (400) Equity securities (4,382) (446) Total gross realized and unrealized losses (4,530) (846) Net realized and unrealized gains (losses) on investments $ (2,825) $ 2,301
Investments Classified by Contractual Maturity Date	Amortized cost and estimated fair value of debt securities, by contractual maturity, consisted of the following: ໿ March 31, 2020 Amortized Cost Fair Value Securities with Maturity Dates (In thousands) Debt securities, available-for-sale: One year or less $ 33,374 $ 33,413 Over one through five years 170,802 171,418 Over five through ten years 158,874 161,147 Over ten years 171,501 176,857 534,551 542,835 Debt securities, held-to-maturity: One year or less 285 286 Over one through five years 3,846 3,833 Over five through ten years 39 39 Over ten years 101 103 4,271 4,261 Total $ 538,822 $ 547,096
Summary of Net Investment Income	Net investment income consisted of the following: ໿ Three Months Ended March 31, 2020 2019 (In thousands) Interest income $ 3,822 $ 3,657 Dividends income 70 53 Net investment income $ 3,892 $ 3,710
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	Gross unrealized losses and related fair values for debt securities, grouped by duration of time in a continuous unrealized loss position, consisted of the following: ໿ Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) March 31, 2020 Debt securities - available-for-sale: United States government obligations and authorities $ 810 $ 1 $ 268 $ 12 $ 1,078 $ 13 Obligations of states and political subdivisions 5,544 37 — — 5,544 37 Corporate 117,591 5,754 — 188 117,591 5,942 International 13,330 1,079 132 38 13,462 1,117 137,275 6,871 400 238 137,675 7,109 Debt securities, held-to-maturity: United States government obligations and authorities — — 2,222 65 2,222 65 Corporate 235 6 — — 235 6 International — — — — — — 235 6 2,222 65 2,457 71 Total investments, excluding equity securities $ 137,510 $ 6,877 $ 2,622 $ 303 $ 140,132 $ 7,180 Less than 12 months 12 months or longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) December 31, 2019 Debt securities - available-for-sale: United States government obligations and authorities $ 49,833 $ 409 $ 2,218 $ 17 $ 52,051 $ 426 Obligations of states and political subdivisions 6,810 22 — — 6,810 22 Corporate 15,872 94 7,694 38 23,566 132 International 3,856 10 179 2 4,035 12 76,371 535 10,091 57 86,462 592 Debt securities, held-to-maturity: United States government obligations and authorities — — 2,287 39 2,287 39 Corporate — — — — — — International — — — — — — — — 2,287 39 2,287 39 Total investments, excluding equity securities $ 76,371 $ 535 $ 12,378 $ 96 $ 88,749 $ 631
Gain (Loss) on Securities	Three Months Ended March 31, 2020 2019 (In thousands) Net realized and unrealized gains (losses) $ (4,063) $ 2,384 Less: Net realized and unrealized gains (losses) on securities sold (635) 326 Net realized and unrealized gains (losses) recognized during the period still held as of the end-of-period $ (3,428) $ 2,058

REINSURANCE (Tables)

REINSURANCE (Tables)	3 Months Ended
	Mar. 31, 2020
Reinsurance Disclosures [Abstract]
Reinsurance Recoverables	Reinsurance recoverable, net consisted of the following: ໿ March 31, December 31, 2020 2019 (In thousands) Reinsurance recoverable on paid losses $ 48,544 $ 45,186 Reinsurance recoverable on unpaid losses 212,606 164,429 Reinsurance recoverable, net $ 261,150 $ 209,615
Premiums Written and Earned	Net premiums written and net premiums earned consisted of the following: ໿ ໿ Three Months Ended March 31, 2020 2019 (In thousands) Net Premiums Written Direct $ 172,962 $ 132,233 Ceded (13,766) (11,793) $ 159,196 $ 120,440 Net Premiums Earned Direct $ 175,574 $ 138,367 Ceded (69,664) (49,583) $ 105,910 $ 88,784

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Debt Securities, Held-to-maturity, Allowance for Credit Loss	Activity in the allowances for credit loss, by asset line item on the consolidated balance sheet, is summarized as follows: Debt Securities, Reinsurance Held-to- Premiums Recoverable, Maturity Receivable Net Total (In thousands) Balance as of December 31, 2019 $ — $ 159 $ — $ 159 Cumulative effect of new accounting standard (1) 1 — 32 33 Credit loss expense (recovery) (2) 1 30 21 52 Balance as of March 31, 2020 $ 2 $ 189 $ 53 $ 244 (1) Refer to Note 2 above for information about our adoption of ASU 2016-13 on January 1, 2020. (2) Reflected in commissions and other underwriting expenses on the consolidated statements of comprehensive income (loss).
Premium Receivable, Allowance for Credit Loss	The aging of our premiums receivable and associated allowance for credit loss as of March 31, 2020 was as follows: Days Past Due Current 1-29 30-59 60-89 90 plus 0 Total (In thousands) Amortized cost $ 35,822 $ 2,507 $ 29 $ 9 $ 159 $ 38,526 Allowance for credit loss — (26) (1) (3) (159) (189) Net $ 35,822 $ 2,481 $ 28 $ 6 $ — $ 38,337

LOSS AND LOSS ADJUSTMENT RESE_2

LOSS AND LOSS ADJUSTMENT RESERVES (Tables)	3 Months Ended
	Mar. 31, 2020
Liability for Future Policy Benefit, before Reinsurance [Abstract]
Activity in Liability for Loss and LAE Reserves	Activity in the liability for loss and LAE reserves is summarized as follows: Three Months Ended March 31, 2020 2019 (In thousands) Gross reserves, beginning-of-period $ 324,362 $ 296,230 Less: reinsurance recoverable (1) (164,429) (166,396) Net reserves, beginning-of-period 159,933 129,834 Incurred loss, net of reinsurance, related to: Current year 69,365 67,048 Prior year loss development (redundancy) (2) (117) 721 Ceded losses subject to offsetting experience account adjustments (3) (295) (930) Prior years (412) (209) Amortization of acquisition fair value adjustment (23) — Total incurred loss and LAE, net of reinsurance 68,930 66,839 Paid loss, net of reinsurance, related to: Current year 13,371 14,868 Prior years 52,423 41,974 Total paid loss and LAE, net of reinsurance 65,794 56,842 Net reserves, end-of-period 163,069 139,831 Plus: reinsurance recoverable (1) 212,606 234,293 Gross reserves, end-of-period $ 375,675 $ 374,124 (1) Reinsurance recoverable in this table includes only ceded loss and LAE reserves. (2) Reflects loss development from prior accident years impacting pre-tax net income. Excludes losses ceded under retrospective reinsurance treaties to the extent there is an offsetting experience account adjustment. (3) Reflects losses ceded under retrospective reinsurance treaties to the extent there is an offsetting experience account adjustment, such that there is no impact on pre-tax net income (loss).

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Assets And Liabilities, Lessee	Additional information related to our operating lease agreement for office space consisted of the following: March 31, 2020 (In thousands) Right-of-use asset $ 7,938 Accrued rent (216) Right-of-use asset, net $ 7,722 Lease liability $ 7,938 Weighted average discount rate 4.70 % Weighted average remaining years of lease term 8.4
Additional Lease Cost Information	Three Months Ended March 31, 2020 2019 (In thousands) Lease expense $ 280 $ 260 Sublease income (155) — Lease expense, net $ 125 $ 260 Net cash provided by (used in) operating activities $ (89) $ (137)

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Share-based compensation arrangements include the following: ໿ Three Months Ended March 31, 2020 2019 (In thousands) Restricted stock $ 353 $ 494 Performance stock 100 181 Total share-based compensation expense $ 453 $ 675 Recognized tax benefit $ 111 $ 171 Intrinsic value of options exercised 2 — Fair value of restricted stock vested 1,032 927
Schedule of Stock Options Roll Forward	A summary of the Company’s stock option activity includes the following: ໿ Number of Shares Weighted Average Option Exercise Price Outstanding at January 1, 2020 38,850 $ 3.80 Granted — — Exercised (100) 3.30 Cancelled — — Outstanding at March 31, 2020 38,750 $ 3.81
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	RSA activity includes the following: Number of Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2020 255,345 $ 17.82 Granted 210,272 11.82 Vested (58,633) 17.59 Cancelled (15,990) 18.24 Outstanding at March 31, 2020 390,994 $ 14.62
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) associated with debt securities - available-for-sale consisted of the following: ໿ Three Months Ended March 31, 2020 2019 Before Tax Income Tax Net Before Tax Income Tax Net (In thousands) Accumulated other comprehensive income (loss), beginning-of-period $ 13,621 $ (3,340) $ 10,281 $ (5,023) $ 1,273 $ (3,750) Other comprehensive income (loss) before reclassification (4,098) 1,004 (3,094) 11,528 (2,922) 8,606 Reclassification adjustment for realized losses (gains) included in net income (1,238) 304 (934) (2,301) 583 (1,718) (5,336) 1,308 (4,028) 9,227 (2,339) 6,888 Accumulated other comprehensive income (loss), end-of-period $ 8,285 $ (2,032) $ 6,253 $ 4,204 $ (1,066) $ 3,138

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted EPS: Three Months Ended March 31, 2020 2019 (In thousands, except per share data) Net income (loss) attributable to FedNat Holding Company shareholders $ 2,133 $ (3,865) Weighted average number of common shares outstanding - basic 14,249 12,795 Net income (loss) per common share - basic $ 0.15 $ (0.30) Weighted average number of common shares outstanding - basic 14,249 12,795 Dilutive effect of stock compensation plans 63 — Weighted average number of common shares outstanding - diluted 14,312 12,795 Net income (loss) per common share - diluted $ 0.15 $ (0.30) Dividends per share $ 0.09 $ 0.08

ORGANIZATION, CONSOLIDATION A_2

ORGANIZATION, CONSOLIDATION AND BASIS OF PRESENTATION (Narrative) (Details) - Premiums Written Net - Homeowners Multiperil Insurance Product Line - Customer Concentration Risk	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Ivantage Select Agency Inc
Organization, Consolidation, And Basis of Preparation [Line Items]
Concentration risk, percentage	20.50%	22.80%
SageSure Insurance Managers LLC
Organization, Consolidation, And Basis of Preparation [Line Items]
Concentration risk, percentage	24.20%	19.60%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ (64,652)		$ (70,591)
Cumulative Effect, Period Of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ 100

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
1347 Property Insurance Holdings, Inc
Business Acquisition [Line Items]
Revenue of business acquired	$ 15,400
Net income of business acquired	$ 1,700
Maison Companies
Business Acquisition [Line Items]
Revenue		$ 118,621
Net income (loss)		$ (3,395)

FAIR VALUE (Available-for-Sale

FAIR VALUE (Available-for-Sale Financial Instruments Measured at Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	$ 542,835	$ 526,265
Equity securities, at fair value	17,324	20,039
Total investments, at fair value	560,159	546,304
United States Government Obligations and Authorities
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	196,363	194,193
Obligations of States and Political Subdivisions
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	22,298	24,020
Corporate
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	293,730	278,302
International
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	30,444	29,750
Level 1
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	66,033	83,764
Equity securities, at fair value	13,720	17,361
Total investments, at fair value	79,753	101,125
Level 1 | United States Government Obligations and Authorities
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	66,033	83,764
Level 1 | Obligations of States and Political Subdivisions
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	0
Level 1 | Corporate
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	0
Level 1 | International
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	0
Level 2
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	476,802	442,501
Equity securities, at fair value	3,604	2,678
Total investments, at fair value	480,406	445,179
Level 2 | United States Government Obligations and Authorities
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	130,330	110,429
Level 2 | Obligations of States and Political Subdivisions
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	22,298	24,020
Level 2 | Corporate
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	293,730	278,302
Level 2 | International
Investments, Debt and Equity Securities [Abstract]
Debt securities - available-for-sale, at fair value:	$ 30,444	$ 29,750

FAIR VALUE (Held-to-Maturity Fi

FAIR VALUE (Held-to-Maturity Financial Instruments Measured at Fair Value) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in valuation inputs or changes in assumptions	$ 0		$ 0
Unobservable inputs reconciliation, transfers	0	$ 0
US Government Obligations and Authorities, Corporate and International Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity securities, fair value	4,261			$ 4,331
US Government Obligations and Authorities, Corporate and International Securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity securities, fair value	3,439			3,453
US Government Obligations and Authorities, Corporate and International Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity securities, fair value	$ 822			$ 878

INVESTMENTS (Narrative) (Detail

INVESTMENTS (Narrative) (Details) $ in Millions	Mar. 31, 2020USD ($)security	Dec. 31, 2019USD ($)security
Investments, Debt and Equity Securities [Abstract]
Debt securities and equity securities held in an unrealized loss position 12 months or more	15	24
Fair value of investments deposited with governmental authorities required by law | $	$ 9.5	$ 11.2
Debt securities, available-for-sale, unrealized loss position, number of positions	522	203

INVESTMENTS (Summary of Amortiz

INVESTMENTS (Summary of Amortized Cost and Fair Value of Debt and Equity Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Debt securities, available-for-sale, at amortized cost	$ 534,551	$ 512,645
Debt securities - available-for-sale, at fair value:	542,835	526,265
Held-to-maturity securities, Amortized Cost or Cost	4,271	4,337
Total investments, Amortized Cost or Cost	538,822	516,982
Total investments, Gross Unrealized Gain	15,454	14,245
Total investments, Gross Unrealized Loss	7,180	631
Total investments, Fair Value	547,096	530,596
Debt Securities
Schedule of Investments [Line Items]
Debt securities, available-for-sale, at amortized cost	534,551	512,645
Debt securities, available-for-sale securities, Gross Unrealized Gain	15,393	14,212
Debt securities, available-for-sale securities, Gross Unrealized Losses	7,109	592
Debt securities - available-for-sale, at fair value:	542,835	526,265
Held-to-maturity securities, Amortized Cost or Cost	4,271	4,337
Held-to-maturity securities, Gross Unrealized Gains	61	33
Held-to-maturity securities, Gross Unrealized Losses	71	39
Held-to-maturity securities, fair value	4,261	4,331
United States Government Obligations and Authorities
Schedule of Investments [Line Items]
Debt securities, available-for-sale, at amortized cost	187,452	191,546
Debt securities, available-for-sale securities, Gross Unrealized Gain	8,924	3,073
Debt securities, available-for-sale securities, Gross Unrealized Losses	13	426
Debt securities - available-for-sale, at fair value:	196,363	194,193
Held-to-maturity securities, Amortized Cost or Cost	3,555	3,585
Held-to-maturity securities, Gross Unrealized Gains	53	12
Held-to-maturity securities, Gross Unrealized Losses	65	39
Held-to-maturity securities, fair value	3,543	3,558
Obligations of States and Political Subdivisions
Schedule of Investments [Line Items]
Debt securities, available-for-sale, at amortized cost	21,935	23,748
Debt securities, available-for-sale securities, Gross Unrealized Gain	400	294
Debt securities, available-for-sale securities, Gross Unrealized Losses	37	22
Debt securities - available-for-sale, at fair value:	22,298	24,020
Corporate
Schedule of Investments [Line Items]
Debt securities, available-for-sale, at amortized cost	293,927	268,182
Debt securities, available-for-sale securities, Gross Unrealized Gain	5,745	10,252
Debt securities, available-for-sale securities, Gross Unrealized Losses	5,942	132
Debt securities - available-for-sale, at fair value:	293,730	278,302
Held-to-maturity securities, Amortized Cost or Cost	671	697
Held-to-maturity securities, Gross Unrealized Gains	7	20
Held-to-maturity securities, Gross Unrealized Losses	6	0
Held-to-maturity securities, fair value	672	717
International
Schedule of Investments [Line Items]
Debt securities, available-for-sale, at amortized cost	31,237	29,169
Debt securities, available-for-sale securities, Gross Unrealized Gain	324	593
Debt securities, available-for-sale securities, Gross Unrealized Losses	1,117	12
Debt securities - available-for-sale, at fair value:	30,444	29,750
Held-to-maturity securities, Amortized Cost or Cost	45	55
Held-to-maturity securities, Gross Unrealized Gains	1	1
Held-to-maturity securities, Gross Unrealized Losses	0	0
Held-to-maturity securities, fair value	$ 46	$ 56

INVESTMENTS (Net Realized Gains

INVESTMENTS (Net Realized Gains (Losses) by Major Investment Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Gross realized and unrealized gains
Total gross realized and unrealized gains	$ 1,705	$ 3,147
Gross Realized and Unrealized Lossses [Abstract]
Debt And Equity Securities, Realized And Unrealized Losses	(4,530)	(846)
Net realized and unrealized gains (losses) on investments	(2,825)	2,301
Debt Securities
Gross realized and unrealized gains
Debt securities	1,386	317
Gross Realized and Unrealized Lossses [Abstract]
Debt Securities, Trading, Realized And Unrealized Losses	(148)	(400)
Equity Securities
Gross realized and unrealized gains
Equity securities	319	2,830
Gross Realized and Unrealized Lossses [Abstract]
Equity Securities, FV-NI, Realized And Unrealized Losses	$ (4,382)	$ (446)

INVESTMENTS (Net Unrealized Gai

INVESTMENTS (Net Unrealized Gains (Losses) Still Held (Details) - Equity Securities - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Gain (Loss), Total	$ (4,063)	$ 2,384
Less: Net realized and unrealized gains (losses)	(635)	326
Net unrealized gains (losses) still held as of the end-of-period	$ (3,428)	$ 2,058

INVESTMENTS (Amortized Cost and

INVESTMENTS (Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity) (Details) $ in Thousands	Mar. 31, 2020USD ($)
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
One year or less	$ 33,374
Over one through five years	170,802
Over five through ten years	158,874
Over ten years	171,501
Amortized cost	534,551
Available-for-sale Securities, Debt maturities, Fair value:
One year or less	33,413
Over one through five years	171,418
Over five through ten years	161,147
Over ten years	176,857
Fair value	542,835
Held-to-maturity Securities, Debt maturities, Amortized cost [Abstract]
One year or less	285
Over one through five years	3,846
Over five through ten years	39
Over ten years	101
Amortized cost	4,271
Held-to-maturity Securities, Debt Maturities, Fair value:
One year or less	286
Over one through five years	3,833
Over five through ten years	39
Over ten years	103
Fair value	4,261
Total Investments
Amortized cost	538,822
Fair value	$ 547,096

INVESTMENTS (Summary of Net Inv

INVESTMENTS (Summary of Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Investment Income, Interest and Dividend [Abstract]
Interest income	$ 3,822	$ 3,657
Dividends income	70	53
Net investment income	$ 3,892	$ 3,710

INVESTMENTS (Gross Unrealized L

INVESTMENTS (Gross Unrealized Losses and Related Fair Values for Debt and Equity Securities, Grouped by Duration of Time in Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value [Abstract]
Less than 12 Months	$ 235	$ 0
12 Months or Longer, Fair Value	2,222	2,287
Total	2,457	2,287
Gross unrealized loss position [Abstract]
Less than 12 Months	6	0
12 Months or Longer, Accumulated Loss	65	39
Total	71	39
Total Investments, excluding equity securities, less than 12 months, Fair Value	137,510	76,371
Total Investments, excluding equity securities, Less than 12 Months, Gross Unrealized Losses	6,877	535
Total Investments, excluding equity securities, 12 months or longer, Fair Value	2,622	12,378
Total Investments, excluding equity securities, 12 months or longer, Gross Unrealized Losses	303	96
Total Investments, excluding equity securities, Total Fair Value	140,132	88,749
Total Investments, excluding equity securities, Total Gross Unrealized Losses	7,180	631
United States Government Obligations and Authorities
Fair value [Abstract]
Less than 12 months	810	49,833
12 Months or Longer	268	2,218
Total	1,078	52,051
Gross unrealized losses [Abstract]
Less than 12 months	1	409
12 Months or Longer	12	17
Total	13	426
Fair Value [Abstract]
Less than 12 Months	0	0
12 Months or Longer, Fair Value	2,222	2,287
Total	2,222	2,287
Gross unrealized loss position [Abstract]
Less than 12 Months	0	0
12 Months or Longer, Accumulated Loss	65	39
Total	65	39
Obligations of States and Political Subdivisions
Fair value [Abstract]
Less than 12 months	5,544	6,810
12 Months or Longer	0	0
Total	5,544	6,810
Gross unrealized losses [Abstract]
Less than 12 months	37	22
12 Months or Longer	0	0
Total	37	22
Corporate
Fair value [Abstract]
Less than 12 months	117,591	15,872
12 Months or Longer	0	7,694
Total	117,591	23,566
Gross unrealized losses [Abstract]
Less than 12 months	5,754	94
12 Months or Longer	188	38
Total	5,942	132
Fair Value [Abstract]
Less than 12 Months	235	0
12 Months or Longer, Fair Value	0	0
Total	235	0
Gross unrealized loss position [Abstract]
Less than 12 Months	6	0
12 Months or Longer, Accumulated Loss	0	0
Total	6	0
International
Fair value [Abstract]
Less than 12 months	13,330	3,856
12 Months or Longer	132	179
Total	13,462	4,035
Gross unrealized losses [Abstract]
Less than 12 months	1,079	10
12 Months or Longer	38	2
Total	1,117	12
Fair Value [Abstract]
Less than 12 Months	0	0
12 Months or Longer, Fair Value	0	0
Total	0	0
Gross unrealized loss position [Abstract]
Less than 12 Months	0	0
12 Months or Longer, Accumulated Loss	0	0
Total	0	0
Debt Securities
Fair value [Abstract]
Less than 12 months	137,275	76,371
12 Months or Longer	400	10,091
Total	137,675	86,462
Gross unrealized losses [Abstract]
Less than 12 months	6,871	535
12 Months or Longer	238	57
Total	$ 7,109	$ 592

REINSURANCE (Narrative) (Detail

REINSURANCE (Narrative) (Details) - USD ($)	Jul. 01, 2018	Jul. 01, 2017	Jul. 31, 2016	Mar. 31, 2020	Dec. 31, 2019	Jul. 01, 2016
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				$ 63,051,000	$ 102,467,000
Reinsurance Recoverables, Including Reinsurance Premium Paid				261,150,000	209,615,000
Maximum | Hurricane Irma
Liability for Catastrophe Claims [Line Items]
Reinsurance Recoverables, Including Reinsurance Premium Paid				210,500,000	163,700,000
Federated National 2018-2019 Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				148,800,000
Federated National 2018-2019 Reinsurance Programs | First Event Coverage
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				3,000,000
Federated National 2018-2019 Reinsurance Programs | Maximum
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				20,000,000
Multiple Year Protection Terminated | Maximum
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				89,000,000
Multiple Year Protection Plan Expired | Maximum
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				156,000,000
Federated Nationals Insurance Company Non Florida Reinsurance Program 2018-2019 | First Event Coverage
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				5,000,000
Reinsurance retention amount				15,000,000
Reinsurance amount retained on net basis with profit share agreement				7,500,000
Federated Nationals Insurance Company Non Florida Reinsurance Program 2018-2019 | Second Event Coverage
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				13,000,000
Reinsurance retention amount				2,000,000
Reinsurance amount retained on net basis with profit share agreement				1,000,000
Federated Nationals Insurance Company Non Florida Reinsurance Program 2018-2019 | Maximum
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				1,800,000
Additional coverage amount				23,000,000
Federated Nationals Insurance Company Non Florida Reinsurance Program 2018-2019 | Maximum | Second Event Coverage
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				18,000,000
2019-2020 Catastrophe Excess Loss Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				224,300,000
2019-2020 Catastrophe Excess Loss Reinsurance Programs | Maximum | First Event Coverage
Liability for Catastrophe Claims [Line Items]
Reinsurance retention amount				20,000,000
Reinsurance amount retained on net basis with profit share agreement				10,000,000
2019-2020 Catastrophe Excess Loss Reinsurance Programs | Maximum | Second Event Coverage
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				18,000,000
Reinsurance retention amount				2,000,000
Reinsurance amount retained on net basis with profit share agreement				1,000,000
FHCF | 2019-2020 Catastrophe Excess Loss Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				$ 45,900,000
FHCF | 2019-2020 Catastrophe Excess Loss Reinsurance Programs | Maximum
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share reinsurance treaty				90.00%
FNIC
Liability for Catastrophe Claims [Line Items]
Maximum single event coverage				$ 20,000,000
Trust agreement for loss exposure (Less than)				100,000	$ 100,000
FNIC | 2019-2020 Catastrophe Excess Loss Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Excess retention, amount reinsured				27,000,000
Additional coverage amount				$ 20,000,000
FNIC | Quota Share One | Property Insurance Product Line
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share expired on cut off basis		10.00%
FNIC | Quota Share One | Florida Homeowners Book of Business
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share reinsurance treaty	2.00%			30.00%
FNIC | Quota Share Two | Florida Homeowners Book of Business
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share reinsurance treaty				10.00%
Private and FHCF Reinsurance | Federated Nationals Insurance Company Non Florida Reinsurance Program 2018-2019
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				$ 2,000,000
Private and FHCF Reinsurance | 2019-2020 Catastrophe Excess Loss Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Liability for catastrophe claims				1,900,000,000
Maximum single event coverage				1,300,000,000
Maximum Second and Third Event Coverage				$ 15,000,000
Private and FHCF Reinsurance | 2019-2020 Catastrophe Excess Loss Reinsurance Programs | Maximum
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share reinsurance treaty				75.00%
Monarch National S Florida
Liability for Catastrophe Claims [Line Items]
Maximum single event coverage				$ 3,000,000
Monarch National S Florida | 2019-2020 Catastrophe Excess Loss Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Maximum Second and Third Event Coverage				10,000,000
Additional coverage amount				2,000,000
Maison | 2019-2020 Catastrophe Excess Loss Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Additional coverage amount				5,000,000
Florida | Quota Share Treaties | Property Insurance Product Line
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share reinsurance treaty		10.00%	30.00%
Florida | Quota Share One | Property Insurance Product Line
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share expired on cut off basis						30.00%
Percentage of unearned premiums and losses retained						30.00%
Florida | Federated National's Florida Exposure | Federated National 2018-2019 Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				102,700,000
Florida | Federated National's Florida Exposure | 2019-2020 Catastrophe Excess Loss Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				178,900,000
Florida | FHCF | Federated National 2018-2019 Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Reinsurance payable				$ 46,100,000
Percentage of property quota share reinsurance treaty				75.00%
Florida | FNIC | Quota Share Treaties | Property Insurance Product Line
Liability for Catastrophe Claims [Line Items]
Percentage of property quota share reinsurance treaty				40.00%
Florida | Private and FHCF Reinsurance | Federated National 2018-2019 Reinsurance Programs
Liability for Catastrophe Claims [Line Items]
Liability for catastrophe claims				$ 1,800,000,000
Maximum single event coverage				$ 1,300,000,000

REINSURANCE (Reinsurance Recove

REINSURANCE (Reinsurance Recoverables) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
Reinsurance recoverable on paid losses	$ 48,544	$ 45,186
Reinsurance recoverable on unpaid losses	212,606	164,429	$ 234,293	$ 166,396
Reinsurance recoverable, net	$ 261,150	$ 209,615

REINSURANCE (Premiums Written a

REINSURANCE (Premiums Written and Earned) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net Premiums Written
Direct	$ 172,962	$ 132,233
Ceded	(13,766)	(11,793)
Total premiums written	159,196	120,440
Net Premiums Earned
Direct	175,574	138,367
Ceded	(69,664)	(49,583)
Net premiums earned	$ 105,910	$ 88,784

ALLOWANCE FOR CREDIT LOSSES (Sc

ALLOWANCE FOR CREDIT LOSSES (Schedule of allowance for credit losses) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	$ 0
Balance as of March 31, 2020	2
Premium Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	159
Balance as of March 31, 2020	189
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	0
Balance as of March 31, 2020	53
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	159
Credit loss, expense (reversal)	52
Balance as of March 31, 2020	244
Cumulative Effect, Period Of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	33
Debt Securities, Held-to-Maturity
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	0
Credit loss expense (reversal)	1
Balance as of March 31, 2020	2
Debt Securities, Held-to-Maturity | Cumulative Effect, Period Of Adoption, Adjustment [Member]
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	1
Premiums Receivable [Member]
Premium Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	159
Credit loss expense (reversal)	30
Balance as of March 31, 2020	189
Premiums Receivable [Member] | Cumulative Effect, Period Of Adoption, Adjustment [Member]
Premium Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	0
Reinsurance Recoverable, Net [Member]
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	0
Credit loss expense (reversal)	21
Balance as of March 31, 2020	53
Reinsurance Recoverable, Net [Member] | Cumulative Effect, Period Of Adoption, Adjustment [Member]
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	$ 32

ALLOWANCE FOR CREDIT LOSSES (Pr

ALLOWANCE FOR CREDIT LOSSES (Premium Receivable Past Due) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Amortized cost	$ 38,526
Allowance for credit loss	(189)	$ (159)
Net	38,337
Current
Financing Receivable, Past Due [Line Items]
Amortized cost	35,822
Allowance for credit loss	0
Net	35,822
Financial Asset, 1 to 29 Days Past Due
Financing Receivable, Past Due [Line Items]
Amortized cost	2,507
Allowance for credit loss	(26)
Net	2,481
Financial Asset, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Amortized cost	29
Allowance for credit loss	(1)
Net	28
Financial Asset, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Amortized cost	9
Allowance for credit loss	(3)
Net	6
Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Amortized cost	159
Allowance for credit loss	(159)
Net	$ 0

LOSS AND LOSS ADJUSTMENT RESE_3

LOSS AND LOSS ADJUSTMENT RESERVES (Activity in Liability for Loss and LAE Reserves) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves, beginning-of-period	$ 324,362	$ 296,230
Less: reinsurance recoverable	(164,429)	(166,396)
Net reserves, beginning-of-period	159,933	129,834
Incurred loss, net of reinsurance, related to:
Current year	69,365	67,048
Prior year loss development	(117)	721
Ceded losses subject to offsetting experience account adjustments	(295)	(930)
Prior years	(412)	(209)
Amortization of acquisition fair value adjustment	(23)	0
Total incurred loss and LAE, net of reinsurance	68,930	66,839
Paid loss, net of reinsurance, related to:
Current year	13,371	14,868
Prior years	52,423	41,974
Total paid loss and LAE, net of reinsurance	65,794	56,842
Net reserves, end-of-period	163,069	139,831
Plus: reinsurance recoverable	212,606	234,293
Gross reserves, end-of-period	$ 375,675	$ 374,124

LOSS AND LOSS ADJUSTMENT RESE_4

LOSS AND LOSS ADJUSTMENT RESERVES (Narrative) (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Jul. 31, 2016	Mar. 31, 2020	Mar. 31, 2019
Liability for Future Policy Benefit, by Product Segment [Line Items]
Claim and claim adjustment expenses incurred related to current year			$ (69,365)	$ (67,048)
Claim and claim adjustment expenses incurred related to prior year			(412)	(209)
Reinsurance Programs | Florida
Liability for Future Policy Benefit, by Product Segment [Line Items]
Claim and claim adjustment expenses incurred related to current year			$ 100	$ 700
Quota Share Treaties | Florida | Property Insurance Product Line
Liability for Future Policy Benefit, by Product Segment [Line Items]
Percentage of property quota share reinsurance treaty	10.00%	30.00%

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	5.40%	26.20%
Unrecognized Tax Benefits	$ 0.4		$ 0.4
Recognized benefit related to uncertain tax positions	0
Income tax expense from uncertain tax position (less than)	$ 0.1

COMMITMENTS AND CONTINGENCIES C

COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES (Leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease, term		9 years 6 months
Balance Sheet Related Disclosures [Abstract]
Right-of-use asset	$ 7,938
Accrued rent	(216)
Right-of-use asset, net	7,722
Lease liability	$ 7,938
Weighted average discount rate	4.70%
Income Statement Related Disclosures [Abstract]
Lease expense	$ 280	$ 260
Sublease income	(155)	0
Lease expense, net	125	260
Net cash provided by (used in) operating activities	$ (89)	$ (137)
Operating Lease, Weighted Average Remaining Lease Term	8 years 4 months 24 days

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	May 06, 2020	Mar. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased in the period (in shares)	523,583
Stock repurchased in the period, amount	$ 6,800,000
Treasury Stock Acquired, Average Cost Per Share	$ 12.89
Remaining authorized repurchase amount	$ 13,200,000
Accumulated other comprehensive income (loss)	$ 6,253,000				$ 10,281,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	210,272	140,156
Securities Offerings, reserved for future issuance						$ 150,000,000
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining authorized repurchase amount			$ 10,000,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	210,272
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Minimum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ultimate expense range, percent of target	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchases authorized amount	$ 20,000,000			$ 10,000,000	$ 10,000,000
Award vesting period	5 years
Maximum | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ultimate expense range, percent of target	250.00%

SHAREHOLDERS' EQUITY (Schedule

SHAREHOLDERS' EQUITY (Schedule of Share-based Compensation Arrangements) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 453	$ 675
Recognized tax benefit	111	171
Intrinsic value of options exercised	2	0
Fair value of restricted stock vested	1,032	927
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	353	494
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 100	$ 181

SHAREHOLDERS' EQUITY (Summary o

SHAREHOLDERS' EQUITY (Summary of Stock Option Activity) (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares) | shares	38,850,000
Granted (in shares) | shares	0
Exercised (in shares) | shares	(100,000)
Canceled (in shares) | shares	0
Outstanding, end of period (in shares) | shares	38,750,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 3.80
Granted, Weighted Average Options Exercise Price (in dollars per share) | $ / shares	0
Exercised, Weighted Average Options Exercise Price (in dollars per share) | $ / shares	3.30
Canceled, Weighted Average Options Exercise Price (in dollars per share) | $ / shares	0
Outstanding, end of period (in dollars per share) | $ / shares	$ 3.81

SHAREHOLDERS' EQUITY (Summary_2

SHAREHOLDERS' EQUITY (Summary of Restricted Stock Activity) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	210,272	140,156
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of period (in shares)	255,345
Granted (in shares)	210,272
Vested (in shares)	(58,633)
Cancelled (in shares)	(15,990)
Outstanding, end of period (in shares)	390,994
Restricted Shares, Weighted Average Option Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 17.82
Granted (in dollars per share)	11.82
Vested (in dollars per share)	17.59
Cancelled (in dollars per share)	18.24
Outstanding, end of period (in dollars per share)	$ 14.62

SHAREHOLDERS' EQUITY (Reconcili

SHAREHOLDERS' EQUITY (Reconciliation of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 10,281
Accumulated Other Comprehensive Income (Loss), Net of Tax	6,253
AOCI Attributable to Parent
Before Tax
AOCI Including Portion Attributable to Noncontrolling Interest, before Tax	13,621	$ (5,023)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(4,098)	11,528
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(1,238)	(2,301)
Comprehensive income (loss)	(5,336)	9,227
AOCI Including Portion Attributable to Noncontrolling Interest, before Tax	8,285	4,204
Income Tax
AOCI Including Portion Attributable to Noncontrolling Interest, Tax	(3,340)	1,273
Other Comprehensive Income (Loss) before Reclassifications, Tax	1,004	(2,922)
Reclassification from AOCI, Current Period, Tax	304	583
Other Comprehensive Income (Loss), Tax	1,308	(2,339)
AOCI Including Portion Attributable to Noncontrolling Interest, Tax	(2,032)	(1,066)
Net
Accumulated Other Comprehensive Income (Loss), Net of Tax	10,281	(3,750)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(3,094)	8,606
Reclassification adjustment for realized losses (gains) included in net income, Net	(934)	(1,718)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(4,028)	6,888
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 6,253	$ 3,138

EARNINGS PER SHARE (Schedule of

EARNINGS PER SHARE (Schedule of Calculation of Basic and Diluted Net Income Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 29, 2020	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to FedNat Holding Company shareholders		$ 2,133	$ (3,865)
Weighted average number of common shares outstanding - basic		14,249	12,795
Net (loss) income per share - basic (in dollars per share)		$ 0.15	$ (0.30)
Dilutive effect of stock compensation plans		63	0
Weighted average number of common shares outstanding - diluted		14,312	12,795
Net (loss) income per share - diluted (in dollars per share)		$ 0.15	$ (0.30)
Dividends declared per share (in dollars per share)	$ 0.09	$ 0.09	$ 0.08

EARNINGS PER SHARE (Dividends D

EARNINGS PER SHARE (Dividends Declared) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Apr. 30, 2020	Feb. 29, 2020	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends declared per share (in dollars per share)		$ 0.09	$ 0.09	$ 0.08
Payments of ordinary dividends, amount		$ 1.3
Subsequent Event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends declared per share (in dollars per share)	$ 0.09
Payments of ordinary dividends, amount	$ 1.3

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	1 Months Ended
	Apr. 30, 2020USD ($)numberOfReportedClaimsnumberOfCatastrophicEvents	Mar. 31, 2020USD ($)
FNIC
Subsequent Event [Line Items]
Maximum single event coverage		$ 20,000,000
Maison Companies
Subsequent Event [Line Items]
Maximum single event coverage		5,000,000
Monarch National S Florida
Subsequent Event [Line Items]
Maximum single event coverage		$ 3,000,000
Subsequent Event | Hail and Wind Related Storms
Subsequent Event [Line Items]
Number of Catastrophic Events | numberOfCatastrophicEvents	5
Liability for Catastrophic Events, Number of Reported Claims | numberOfReportedClaims	1,417
Loss in period	$ 15,200,000
Liability for catastrophe claims	15,200,000
Subsequent Event | Affiliated Entity [Member] | FNIC | Hail and Wind Related Storms
Subsequent Event [Line Items]
Liability for catastrophe claims	$ 6,300,000
Profit sharing arrangement, percent	50.00%

Uncategorized Items - fnhc-2020

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (25,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (25,000)