Conifer (CNFR) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Document And Entity Information
Entity Registrant Name	Conifer Holdings, Inc.
Entity Central Index Key	1,502,292
Trading Symbol	cnfr
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,633,069
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaduited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investment securities:
Fixed maturity securities, at fair value (amortized cost of $114,717 and $113,915, respectively)	$ 114,086	$ 113,163
Equity securities, at fair value (cost of $4,291 and $4,283, respectively)	4,773	4,579
Short-term investments, at fair value	14,967	10,788
Total investments	133,826	128,530
Cash	10,196	12,493
Premiums and agents' balances receivable, net	23,189	24,538
Receivable from affiliate	1,484	1,751
Reinsurance recoverables on unpaid losses	9,125	6,658
Reinsurance recoverables on paid losses	1,061	840
Ceded unearned premiums	3,806	4,120
Deferred policy acquisition costs	12,956	13,290
Other assets	12,323	11,481
Total assets	207,966	203,701
Liabilities:
Unpaid losses and loss adjustment expenses	62,135	54,651
Unearned premiums	56,336	58,126
Senior debt	17,125	17,750
Accounts payable and accrued expenses	5,315	4,879
Other liabilities	482	501
Total liabilities	141,393	135,907
Commitments and contingencies	0	0
Shareholders' equity:
Common stock, no par value (100,000,000 shares authorized; 7,633,069 and 7,633,070 issued and outstanding, respectively)	80,585	80,342
Accumulated deficit	(13,266)	(11,468)
Accumulated other comprehensive income (loss)	(746)	(1,080)
Total shareholders' equity	66,573	67,794
Total liabilities and shareholders' equity	$ 207,966	$ 203,701

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaduited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Fixed maturity securities, amortized cost	$ 114,717	$ 113,915
Equity securities, amortized cost	$ 4,291	$ 4,283
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	7,633,069	7,633,070
Common stock, shares outstanding (in shares)	7,633,069	7,633,070

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Premiums
Gross earned premiums	$ 28,264	$ 23,546
Ceded earned premiums	(4,124)	(3,437)
Net earned premiums	24,140	20,109
Net investment income	577	537
Net realized investment gains (losses)	(8)	(8)
Other income	354	245
Total revenue	25,063	20,883
Expenses
Losses and loss adjustment expenses, net	15,733	12,699
Policy acquisition costs	6,472	6,003
Operating expenses	4,530	4,139
Interest expense	224	157
Total expenses	26,959	22,998
Income (loss) before equity earnings of affiliates and income taxes	(1,896)	(2,115)
Equity earnings of affiliates, net of tax	104	87
Income tax expense	6	0
Net income (loss)	$ (1,798)	$ (2,028)
Earnings (loss) per per common share, basic and diluted (in dollars per share)	$ (0.24)	$ (0.27)
Weighted average common shares outstanding, basic and diluted	7,633,069	7,638,780

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (1,798)	$ (2,028)
Unrealized investment gains:
Unrealized investment gains during the period	385	1,459
Income tax expense	0	0
Unrealized investment gains, net of tax	385	1,459
Less: reclassification adjustments to:
Net realized investment gains (losses) included in net income (loss)	51	(83)
Income tax expense	0	0
Total reclassifications included in net income (loss), net of tax	51	(83)
Other comprehensive income (loss)	334	1,542
Total comprehensive income (loss)	$ (1,464)	$ (486)

Consolidated Statements of Chan

Consolidated Statements of Changes in Redeemable Preferred Stock and Shareholders' Equity (Unaudited) - USD ($) $ in Thousands		Total	No Par, Common Stock	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period (in shares) at Dec. 31, 2015			7,644,492
Balance at beginning of period at Dec. 31, 2015		$ 77,262	$ 80,111	$ (3,031)	$ 182
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(2,028)		(2,028)
Repurchase of common stock (in shares)			(33,833)
Repurchase of common stock		(231)	$ (231)
Vesting of RSU	[1]	204	$ 204
Other comprehensive loss		1,542			1,542
Balance at end of period (in shares) at Mar. 31, 2016			7,610,659
Balance at end of period at Mar. 31, 2016		76,749	$ 80,084	(5,059)	1,724
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(6,409)		(6,409)
Repurchase of common stock (in shares)			(54,817)
Repurchase of common stock		(394)	$ 394
Vesting of RSU (in shares)	[1]		77,228
Vesting of RSU	[1]	652	$ 652
Other comprehensive loss		(2,804)			(2,804)
Balance at end of period (in shares) at Dec. 31, 2016			7,633,070
Balance at end of period at Dec. 31, 2016		67,794	$ 80,342	(11,468)	(1,080)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(1,798)		(1,798)
Vesting of RSU (in shares)	[1]		(1)
Vesting of RSU	[1]	243	$ 243
Other comprehensive loss		334			334
Balance at end of period (in shares) at Mar. 31, 2017			7,633,069
Balance at end of period at Mar. 31, 2017		$ 66,573	$ 80,585	$ (13,266)	$ (746)
[1]	"RSU" - restricted stock units

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Cash Flows From Operating Activities
Net income (loss)	$ (1,798)	$ (2,028)	$ (6,409)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment, and intangibles	100	92
Amortization of bond premium and discount, net	175	148
Net realized losses on investments	8	8
Incentive awards expenses - vesting of RSU	243	204
Other	104	(87)
(Increase) decrease in:
Premiums and agents' balances receivable	1,616	(1,426)
Reinsurance recoverables	(2,688)	990
Ceded unearned premiums	314	(505)
Deferred policy acquisition costs	334	(119)
Other assets	(1,037)	(411)
Increase (decrease) in:
Unpaid losses and loss adjustment expenses	7,484	3,066
Unearned premiums	(1,790)	1,847
Reinsurance premiums payable	0	300
Accounts payable and accrued expenses	880	1,010
Other liabilities	(19)	(113)
Net cash provided by operating activities	3,926	2,976
Purchase of investments:
Fixed maturity securities	(10,456)	(5,979)
Equity securities	(369)	(434)
Short-term investments	(40,382)	(11,842)
Proceeds from maturities of investments:
Fixed maturity securities	2,250	2,505
Proceeds from sales of investments:
Fixed maturity securities	6,804	2,157
Equity securities	361	418
Short-term investments	36,203	13,091
Purchases of property and equipment	(9)	(21)
Net cash used in investing activities	(5,598)	(105)
Cash Flows From Financing Activities
Repurchase of common stock	0	(231)
Borrowings under debt arrangements	0	1,000
Repayment of borrowings under debt arrangements	(625)	(500)
Net cash (used in) provided by financing activities	(625)	269
Net (decrease) increase in cash	(2,297)	3,140
Cash at beginning of period	12,493	12,703	15,843
Cash at end of period	10,196	15,843	$ 12,493
Supplemental Disclosure of Cash Flow Information:
Interest paid	128	98
Payable for securities - non cash item	$ (444)	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements include accounts, after elimination of intercompany accounts and transactions, of Conifer Holdings, Inc. (the “Company” or “Conifer”), its wholly owned subsidiaries, Conifer Insurance Company ("CIC"), White Pine Insurance Company ("WPIC"), Red Cedar Insurance Company ("RCIC"), and Sycamore Insurance Agency, Inc ("SIA"). CIC, WPIC, and RCIC are collectively referred to as the "Insurance Company Subsidiaries." On a stand-alone basis, Conifer Holdings, Inc. is referred to as the "Parent Company." On December 30, 2016, the Company's wholly owned subsidiary, American Colonial Insurance Company ("ACIC") was merged into WPIC, with WPIC as the surviving entity. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). The Company has applied the applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting and therefore the consolidated financial statements do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments, consisting of items of a normal recurring nature, necessary for a fair presentation of the consolidated interim financial statements, have been included. The results of operations for the three months ended March 31, 2017 , are not necessarily indicative of the results expected for the year ended December 31, 2017 . These consolidated financial statements and the notes thereto should be read in conjunction with the Company's audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2016 , as filed with the SEC on March 15, 2017. Business The Company is engaged in the sale of property and casualty insurance products and has organized its business model around two classes of insurance businesses: commercial and personal lines. The Company underwrites a variety of specialty insurance products, including property, general liability, liquor liability, automobile, and homeowners and dwelling policies. The Company markets and sells its insurance products through a network of independent agents and managing general agents. Policies are written in all 50 states in the United States. The Company’s corporate headquarters is located in Birmingham, Michigan with additional office facilities in Florida, Texas, Pennsylvania and Tennessee. The Company also generates other revenues through investment income and other income which mainly consists of installment fees and policy issuance fees generally related to the policies we write. We also generate equity earnings from SIA's 50% owned agency (the "Affiliate"). The Affiliate places small commercial risks mainly for alarm and security guard markets. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes the amounts included in the consolidated financial statements reflect management's best estimates and assumptions, actual results may differ from these estimates. Recently Issued Accounting Guidance In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this update modify the requirements related to the measurement of certain financial instruments in the statement of financial condition and results of operation. For equity investments (other than investments accounted for using the equity method), entities must measure such instruments at fair value with changes in fair value recognized in net income. Reporting entities may continue to elect to measure equity investments which do not have a readily determinable fair value at cost with adjustments for impairment and observable changes in price. In addition, for a liability (other than a derivative liability) that an entity measures at fair value, any change in fair value related to the instrument-specific credit risk, that is the entity’s own credit risk, should be presented separately in other comprehensive income and not as a component of net income. The amendments are effective for the Company on January 1, 2018, with early adoption permitted solely for the instrument-specific credit risk for liabilities measured at fair value. The amendments must be applied on a modified retrospective basis with a cumulative effect adjustment as of the beginning of the fiscal year of initial adoption. Management is currently evaluating the impact of the guidance. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which addresses the financial reporting of leasing transactions. This update will require the recognition of a right-of-use asset and a corresponding lease liability, discounted to the present value, for all leases that extend beyond 12 months. For operating leases, the asset and liability will be expensed over the lease term on a straight-line basis, with all cash flows included in the operating section of the consolidated statement of cash flows. For finance leases, interest on the lease liability will be recognized separately from the amortization of the right-of-use asset in the consolidated statement of operations and the repayment of the principal portion of the lease liability will be classified as a financing activity while the interest component will be included in the operating section of the consolidated statement of cash flows. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. Management is currently evaluating the impact of the guidance. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), which amends the current methodology and timing for recognizing credit losses. This amendment will replace the current GAAP "incurred loss" methodology for credit losses with a methodology based on expected credit losses. The new guidance will also require expanded consideration of a broader range of reasonable and increased supportable information for the credit loss estimates. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Early adoption is permitted for years beginning after December 15, 2018. Management is currently evaluating the impact of the guidance. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) , which clarifies how certain cash receipts and cash payments should be presented and classified in the statement of cash flow under Topic 230, Statement of Cash Flows . This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption is permitted. Management is currently evaluating the impact of the guidance.

Investments

Investments	3 Months Ended
	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The cost or amortized cost, gross unrealized gain or loss, and estimated fair value of the investments in securities classified as available for sale at March 31, 2017 and December 31, 2016 , were as follows (dollars in thousands): March 31, 2017 Cost or Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses Fixed Maturity Securities: U.S. Government obligations $ 6,894 $ 35 $ (35 ) $ 6,894 State and local government 13,319 163 (163 ) 13,319 Corporate debt 37,672 232 (235 ) 37,669 Commercial mortgage-backed and other asset-backed 56,832 132 (760 ) 56,204 Total fixed maturity securities available for sale 114,717 562 (1,193 ) 114,086 Equity Securities: Common stocks - Public Utilities 103 33 — 136 Common stocks - Banks, Trusts and Insurance Companies 586 88 (6 ) 668 Common stocks - Industrial, miscellaneous and all other 3,602 440 (73 ) 3,969 Total equity securities available for sale 4,291 561 (79 ) 4,773 Total securities available for sale $ 119,008 $ 1,123 $ (1,272 ) $ 118,859 December 31, 2016 Cost or Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses Fixed Maturity Securities: U.S. Government obligations $ 5,908 $ 31 $ (36 ) $ 5,903 State and local government 13,618 106 (205 ) 13,519 Corporate debt 34,105 205 (254 ) 34,056 Commercial mortgage-backed and other asset-backed 60,284 132 (731 ) 59,685 Total fixed maturity securities available for sale 113,915 474 (1,226 ) 113,163 Equity Securities: Common stocks - Public Utilities 159 25 (1 ) 183 Common stocks - Banks, Trusts and Insurance Companies 681 85 (9 ) 757 Common stocks - Industrial, miscellaneous and all other 3,443 256 (60 ) 3,639 Total equity securities available for sale 4,283 366 (70 ) 4,579 Total securities available for sale $ 118,198 $ 840 $ (1,296 ) $ 117,742 The following table summarizes the aggregate fair value and gross unrealized losses, by security type, of the available-for-sale securities in unrealized loss positions. The table segregates the holdings based on the length of time that individual securities have been in a continuous unrealized loss position, as follows (dollars in thousands): March 31, 2017 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses Fixed Maturity Securities: U.S. Government obligations 12 $ 4,439 $ (35 ) — $ — $ — 12 $ 4,439 $ (35 ) State and local government 19 6,319 (161 ) 1 99 (2 ) 20 6,418 (163 ) Corporate debt 19 10,521 (227 ) 3 1,021 (8 ) 22 11,542 (235 ) Commercial mortgage and asset-backed 47 40,285 (754 ) 4 547 (6 ) 51 40,832 (760 ) Total fixed maturity securities available for sale 97 61,564 (1,177 ) 8 1,667 (16 ) 105 63,231 (1,193 ) Equity Securities: Common stocks 21 1,041 (73 ) 2 71 (6 ) 23 1,112 (79 ) Total equity securities available for sale 21 1,041 (73 ) 2 71 (6 ) 23 1,112 (79 ) Total securities 118 $ 62,605 $ (1,250 ) 10 $ 1,738 $ (22 ) 128 $ 64,343 $ (1,272 ) December 31, 2016 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses Fixed Maturity Securities: U.S. Government obligations 15 $ 4,539 $ (36 ) — $ — $ — 15 $ 4,539 $ (36 ) State and local government 29 8,217 (202 ) 1 104 (3 ) 30 8,321 (205 ) Corporate debt 22 9,031 (239 ) 7 3,369 (15 ) 29 12,400 (254 ) Commercial mortgage and asset-backed 59 38,048 (722 ) 5 802 (9 ) 64 38,850 (731 ) Total fixed maturity securities available for sale 125 59,835 (1,199 ) 13 4,275 (27 ) 138 64,110 (1,226 ) Equity Securities: Common stock 76 2,472 (61 ) 2 66 (9 ) 78 2,538 (70 ) Total equity securities available for sale 76 2,472 (61 ) 2 66 (9 ) 78 2,538 (70 ) Total securities 201 $ 62,307 $ (1,260 ) 15 $ 4,341 $ (36 ) 216 $ 66,648 $ (1,296 ) The Company analyzed its investment portfolio in accordance with its other-than-temporary impairment ("OTTI") review procedures and determined the Company did not need to record a credit-related OTTI loss in net income, nor recognize a non-credit related OTTI loss in other comprehensive income for the three months ended March 31, 2017 and 2016 . The Company’s sources of net investment income are as follows (dollars in thousands): Three Months Ended March 31, 2017 2016 Fixed maturity securities $ 601 $ 586 Equity securities 25 26 Cash and short-term investments 11 2 Total investment income 637 614 Investment expenses (60 ) (77 ) Net investment income $ 577 $ 537 The following table summarizes the gross realized gains and losses from sales or maturities of available-for-sale fixed maturity and equity securities (dollars in thousands): Three Months Ended March 31, 2017 2016 Fixed maturity securities: Gross realized gains $ — $ 16 Gross realized losses (7 ) (6 ) Total fixed maturity securities (7 ) 10 Equity securities: Gross realized gains 29 56 Gross realized losses (30 ) (74 ) Total equity securities (1 ) (18 ) Total realized losses $ (8 ) $ (8 ) Proceeds from the sales of debt and equity securities available for sale were $7.2 million and $2.6 million for the three months ended March 31, 2017 and 2016 , respectively. The table below summarizes the amortized cost and fair value of available-for-sale fixed maturity securities by contractual maturity at March 31, 2017 . Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties (dollars in thousands): Amortized Cost Estimated Fair Value Due in one year or less $ 9,657 $ 9,664 Due after one year through five years 29,272 29,349 Due after five years through ten years 11,494 11,531 Due after ten years 7,462 7,338 Securities with contractual maturities 57,885 57,882 Commercial mortgage and asset backed 56,832 56,204 Total Fixed maturity securities $ 114,717 $ 114,086 At March 31, 2017 and December 31, 2016 , the Insurance Company Subsidiaries had an aggregate of $9.1 million and $9.6 million , respectively, on deposit in trust accounts to meet the deposit requirements of various state insurance departments. At March 31, 2017 and December 31, 2016 , the Company had $10.4 million and $10.3 million held in trust accounts to meet collateral requirements with other third-party insurers, relating to various fronting arrangements. There are withdrawal and other restrictions on these deposits, including the type of investments that may be held, however, the Company may generally invest in high-grade bonds and short-term investments and earn interest on the funds.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments include assets and liabilities carried at fair value, as well as assets and liabilities carried at cost or amortized cost but disclosed at fair value in these consolidated financial statements. Fair value is defined as the price that would be received for an asset or paid to transfer a liability in the principally most advantageous market for the asset or liability in an orderly transaction between market participants. In determining fair value, the Company applies the market approach, which uses prices and other relevant data based on market transactions involving identical or comparable assets and liabilities. The inputs to valuation techniques used to measure fair value are prioritized into a three-level hierarchy. The hierarchy gives the highest priority to quoted prices from sources independent of the reporting entity (“observable inputs”) and the lowest priority to prices determined by the reporting entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (“unobservable inputs”). The fair value hierarchy is as follows: Level 1 —Valuations that are based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 —Valuations that are based on observable inputs (other than Level 1 prices) such as quoted prices for similar assets or liabilities at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 —Unobservable inputs that are supported by little or no market activity. The unobservable inputs represent the Company’s best assumption of how market participants would price the assets or liabilities. The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis, classified by the valuation hierarchy as of March 31, 2017 and December 31, 2016 (dollars in thousands): March 31, 2017 Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Fixed Maturity Securities: U.S. Government obligations $ 6,894 $ — $ 6,894 $ — State and local government 13,319 — 13,319 — Corporate debt 37,669 — 37,669 — Commercial mortgage-backed and other asset-backed 56,204 — 56,204 — Total fixed maturity securities 114,086 — 114,086 — Equity Securities 4,773 4,663 110 — Short-term investments 14,967 14,967 — — Total assets measured at fair value $ 133,826 $ 19,630 $ 114,196 $ — Liabilities: Senior debt* $ 17,125 $ — $ 17,125 $ — Total Liabilities measured at fair value $ 17,125 $ — $ 17,125 $ — * Carried at cost or amortized cost on the consolidated balance sheet December 31, 2016 Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Fixed Maturity Securities: U.S. Government obligations $ 5,903 $ — $ 5,903 $ — State and local government 13,519 — 13,519 — Corporate debt 34,056 — 34,056 — Commercial mortgage-backed and other asset-backed 59,685 — 59,685 — Total fixed maturity securities 113,163 — 113,163 — Equity Securities 4,579 4,469 110 — Short-term investments 10,788 10,788 — — Total assets measured at fair value $ 128,530 $ 15,257 $ 113,273 $ — Liabilities: Senior debt* $ 17,750 $ — $ 17,750 $ — Total Liabilities measured at fair value $ 17,750 $ — $ 17,750 $ — * Carried at cost or amortized cost on the consolidated balance sheet Level 1 investments consist of equity securities traded in an active exchange market. The Company uses unadjusted quoted prices for identical instruments to measure fair value. Level 1 also includes money market funds and other interest-bearing deposits at banks, which are reported as short-term investments. The fair value measurements that were based on Level 1 inputs comprise 14.7% of the fair value of the total investment portfolio as of March 31, 2017 . Level 2 investments include fixed maturity securities, which consist of U.S. government agency securities, state and local municipal bonds (including those held as restricted securities), corporate debt securities, mortgage-backed and asset-backed securities. The Company obtains pricing for each security from independent pricing services, investment managers or consultants to assist in determining fair value for its Level 2 investments. The fair value of securities included in the Level 2 category based on the market values obtained from a third party pricing service were evaluated using pricing models that vary by asset class and incorporate available trade, bid and other observable market information. The third party pricing service monitors market indicators, as well as industry and economic events. The fair value measurements that were based on Level 2 inputs comprise 85.3% of the fair value of the total investment portfolio as of March 31, 2017 . To validate that these quoted prices are reasonable estimates of fair value, the Company performs various quantitative and qualitative procedures, such as (i) evaluation of the underlying methodologies, (ii) analysis of recent sales activity, (iii) analytical review of our fair values against current market prices and (iv) comparison of the pricing services’ fair value to other pricing services’ fair value for the same investment. No markets for the investments were determined to be inactive at period-ends. Based on these procedures, the Company did not adjust the prices or quotes provided from independent pricing services, investment managers or consultants. The Level 2 financial instruments also include our senior debt. The fair value of borrowings under the senior debt, consisting of the revolving credit facility and term loans, approximates its carrying amount because interest is based on a short-term, variable, market-based rate. The Company’s policy on recognizing transfers between hierarchy levels is applied at the end of each reporting period. There were no transfers between Levels 1, 2 and 3 for the three months ended March 31, 2017 and 2016 , respectively.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	3 Months Ended
	Mar. 31, 2017
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs The Company defers costs incurred which are incremental and directly related to the successful acquisition of new or renewal insurance business, net of corresponding amounts of ceded reinsurance commissions. Net deferred policy acquisition costs are amortized and charged to expense in proportion to premium earned over the estimated policy term. The Company anticipates that its deferred policy acquisition costs will be fully recoverable and there were no premium deficiencies for the three months ended March 31, 2017 and 2016 . The activity in deferred policy acquisition costs, net of reinsurance transactions, is as follows (dollars in thousands): Three Months Ended 2017 2016 Balance at beginning of period $ 13,290 $ 12,102 Deferred policy acquisition costs 6,138 6,122 Amortization of policy acquisition costs (6,472 ) (6,003 ) Net change (334 ) 119 Balance at end of period $ 12,956 $ 12,221

Unpaid Losses and Loss Adjustme

Unpaid Losses and Loss Adjustment Expenses	3 Months Ended
	Mar. 31, 2017
Insurance Loss Reserves [Abstract]
Unpaid Losses and Loss Adjustment Expenses	Unpaid Losses and Loss Adjustment Expenses The Company establishes reserves for unpaid losses and loss adjustment expenses ("LAE") which represent the estimated ultimate cost of all losses incurred that were both reported and unreported (i.e., incurred but not yet reported losses; or “IBNR”) and LAE incurred that remain unpaid at the balance sheet date. The Company’s reserving process takes into account known facts and interpretations of circumstances and factors including the Company’s experience with similar cases, actual claims paid, historical trends involving claim payment patterns and pending levels of unpaid claims, loss management programs, product mix and contractual terms, changes in law and regulation, judicial decisions, and economic conditions. In the normal course of business, the Company may also supplement its claims processes by utilizing third party adjusters, appraisers, engineers, inspectors, and other professionals and information sources to assess and settle catastrophe and non-catastrophe related claims. The effects of inflation are implicitly considered in the reserving process. Reserves are estimates of unpaid portions of losses that have occurred, including IBNR losses; therefore the establishment of appropriate reserves is an inherently uncertain and complex process. The ultimate cost of losses may vary materially from recorded amounts, which are based on management’s best estimates. The highest degree of uncertainty is associated with reserves for losses incurred in the current reporting period as it contains the greatest proportion of losses that have not been reported or settled. The Company regularly updates its reserve estimates as new information becomes available and as events unfold that may affect the resolution of unsettled claims. Changes in reserve estimates, which may be material, are reported in the results of operations in the period such changes are determined to be needed and recorded. Management believes that the reserve for losses and LAE, net of reinsurance recoverables, is appropriately established in the aggregate and adequate to cover the ultimate net cost of reported and unreported claims arising from losses which had occurred by the date of the consolidated financial statements based on available facts and in accordance with applicable laws and regulations. The table below provides the changes in the reserves for losses and LAE, net of reinsurance recoverables, for the periods indicated as follows (dollars in thousands): Three Months Ended 2017 2016 Gross reserves - beginning of period $ 54,651 $ 35,422 Less: reinsurance recoverables on unpaid losses 6,658 5,405 Net reserves - beginning of period 47,993 30,017 Add: incurred losses and LAE, net of reinsurance: Current period 12,654 11,111 Prior period 3,079 1,588 Total net incurred losses and LAE 15,733 12,699 Deduct: loss and LAE payments, net of reinsurance: Current period 1,903 1,999 Prior period 8,813 7,244 Total net loss and LAE payments 10,716 9,243 Net reserves - end of period 53,010 33,473 Plus: reinsurance recoverables on unpaid losses 9,125 5,015 Gross reserves - end of period $ 62,135 $ 38,488 The Company’s incurred losses during the three months ended March 31, 2017 , include prior-year adverse reserve development of $3.1 million . For the three months ended March 31, 2017 , there was adverse development of $1.6 million from the commercial property line, $1.3 million from the commercial liability line of business, $325 thousand from the Florida homeowners line, and $201 thousand from the personal auto line of business. The adverse development was offset by $456 thousand of favorable development in other lines of business. The Company’s incurred losses during the three months ended March 31, 2016 , reflect prior-year adverse reserve development of $1.6 million. The adverse development was generated by the Florida homeowners, personal automobile, and commercial automobile lines, totaling $758 thousand , $547 thousand , and $858 thousand , respectively. This adverse development was partially offset by favorable development of $271 thousand and $253 thousand in commercial multi-peril and workers compensation lines. respectively.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2017
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance In the normal course of business, the Company seeks to minimize the loss that may arise from catastrophes or other events that cause unfavorable underwriting results by reinsuring certain levels of risk in various areas of exposure with reinsurers. The Company participates in reinsurance agreements in order to limit its loss exposure including protecting against catastrophe losses. The Company primarily ceded all specific commercial risks in excess of $500 thousand in both 2017 and 2016 . Reinsurance does not discharge the direct insurer from liability to its policyholders. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers and monitors the concentration of credit risk arising from similar geographic regions, activities, or economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. To date, the Company has not experienced any significant difficulties in collecting reinsurance recoverables. The Company assumes written premiums under a few fronting arrangements, most of which are net of other reinsurance arrangements. The fronting arrangements are with unaffiliated insurers who write on behalf of the Company in markets that require a higher A.M. Best rating than the Company’s current rating, where the policies are written in a state where the Company is not licensed or for other strategic reasons. Assumed premiums is comprised entirely of these arrangements other than where there are premiums assumed from Citizens Property and Casualty Corporation. The following table presents the effects of such reinsurance and assumption transactions on premiums and losses and LAE (dollars in thousands): Three Months Ended 2017 2016 Written premiums: Direct $ 20,900 $ 21,600 Assumed 5,574 3,793 Ceded (4,150 ) (3,343 ) Net written premiums $ 22,324 $ 22,050 Earned premiums: Direct $ 22,060 $ 22,241 Assumed 6,204 1,305 Ceded (4,124 ) (3,437 ) Net earned premiums $ 24,140 $ 20,109 Losses and LAE: Direct $ 16,033 $ 13,939 Assumed 3,875 909 Ceded (4,175 ) (2,149 ) Net Losses and LAE $ 15,733 $ 12,699

Senior Debt

Senior Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Senior Debt	Senior Debt The Company's senior debt facility ("Credit Facility") is comprised of three notes: a $17.5 million revolving line of credit ("Revolver") which commenced in October 2013; a $5.0 million five -year term note ("Term Note") which commenced in October 2013; and a $7.5 million five -year term note which commenced in September 2014 ("2014 Term Note"). A summary of the outstanding senior debt is as follows (dollars in thousands): March 31, 2017 December 31, 2016 Revolver $ 10,500 $ 10,500 Term Note 1,500 1,750 2014 Term Note 5,125 5,500 Total $ 17,125 $ 17,750 The undrawn portion of the Revolver was $7.0 million as of March 31, 2017 , and was available to finance working capital, fund other general corporate purposes and provide surplus contributions to the Company's Insurance Company Subsidiaries to support premium growth or strategic acquisitions. The Credit Facility contains various restrictive covenants that relate to the Company’s shareholders’ equity, premiums-to-statutory capital and surplus ratios, fixed-charge coverage ratios, risk-based capital ratios, and A.M. Best ratings of its Insurance Company Subsidiaries. At March 31, 2017 , the Company was in compliance with all of its Credit Facility financial covenants.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity On February 25, 2016, the Company's Board of Directors authorized a stock repurchase program, under which the Company may repurchase up to $2.1 million of its outstanding common stock over a one -year period. Under this program, management was authorized to repurchase shares at prevailing market prices through open market purchases, privately negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, including Rule 10b5-1 and 10b-18 of the Securities Exchange Act of 1934, as amended. The actual timing, number and value of shares repurchased under the program was determined by management in its discretion and depended on a number of factors, including the market price of the Company’s stock, general market conditions, and other factors. The plan expired on February 25, 2017. For the three months ended March 31, 2017 , the Company had not repurchased or retired any shares of stock. In 2016, the Company repurchased and retired 88,650 shares of stock valued at approximately $625 thousand .

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) The following table presents changes in accumulated other comprehensive income (loss) for unrealized gains and losses on available-for-sale securities (dollars in thousands): Three Months Ended 2017 2016 Balance at beginning of period $ (1,080 ) $ 182 Other comprehensive income (loss) before reclassifications 385 1,459 Less: amounts reclassified from accumulated other comprehensive income (loss) 51 (83 ) Net current period other comprehensive income (loss) 334 1,542 Balance at end of period $ (746 ) $ 1,724

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. The following table presents the calculation of basic and diluted earnings (loss) per common share, as follows (dollars in thousands, except per share amounts): Three Months Ended 2017 2016 Net income (loss) $ (1,798 ) $ (2,028 ) Weighted average common shares, basic and diluted* 7,633,069 7,638,780 Earnings (loss) per common share, basic and diluted $ (0.24 ) $ (0.27 ) * The 413,000 nonvested shares of the restricted stock units were anti-dilutive as of March 31, 2017 . Therefore, the basic and diluted weighted average common shares are equal for the three months ended March 31, 2017 .

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation In 2015, the Company issued 390,352 RSUs to executive officers and other employees to be settled in shares of common stock. The total RSUs were valued at $4.1 million on the date of grant. In 2016, the Company issued 111,281 RSUs to executive officers and other employees valued at $909 thousand on the date of grant. The following summarizes our restricted stock unit "RSU" activity (units in thousands): Number of Units Weighted Average Grant-Date Fair Value Outstanding at December 31, 2015 390 $ 10.48 Units granted — — Units vested — — Units forfeited — — Outstanding at March 31, 2016 390 $ 10.48 Units granted 111 8.17 Units vested (77 ) 10.48 Units forfeited (8 ) 9.95 Outstanding at December 31, 2016 416 $ 9.87 Units granted — — Units vested — — Units forfeited (3 ) 9.01 Outstanding at March 31, 2017 413 $ 9.88 The Company recorded $243 thousand and $204 thousand of compensation expense related to the RSUs for the year ended March 31, 2017 and 2016, respectively. The total compensation cost related to the non-vested portion of the restricted stock units which has not been recognized as of March 31, 2017, was $3.5 million .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal proceedings The Company and its subsidiaries are subject at times to various claims, lawsuits and proceedings relating principally to alleged errors or omissions in the placement of insurance, claims administration, and other business transactions arising in the ordinary course of business. Where appropriate, the Company vigorously defends such claims, lawsuits and proceedings. Some of these claims, lawsuits and proceedings seek damages, including consequential, exemplary or punitive damages, in amounts that could, if awarded, be significant. Most of the claims, lawsuits and proceedings arising in the ordinary course of business are related to the insurance policy issued. On the basis of current information, the Company does not believe that there is a reasonable possibility that any material loss exceeding amounts already accrued, if any, will result from any of the claims, lawsuits and proceedings to which the Company is subject, either individually, or in the aggregate.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information The Company is engaged in the sale of property and casualty insurance products and has organized its business model around two classes of insurance businesses: commercial and personal lines. Within these two insurance businesses, the Company offers various insurance products. Such insurance businesses are engaged in underwriting and marketing insurance coverages, and administering claims processing for such policies. The Company defines its operating segments as components of the business where separate financial information is available and used by the chief operating decision maker in deciding how to allocate resources to its segments and in assessing its performance. In assessing performance of its operating segments, the Company’s chief operating decision maker, the Chief Executive Officer, reviews a number of financial measures including gross written premiums, net earned premiums, losses and LAE, net of reinsurance recoveries. However, the primary measure used for making decisions about resources to be allocated to an operating segment and assessing performance is segment underwriting gain or loss which is defined as segment revenues, consisting of net earned premiums and other income, less segment expenses, consisting of losses and LAE, policy acquisition costs and other underwriting and operating expenses of the operating segments. Other underwriting and operating expenses primarily include compensation and related benefits for underwriting personnel, licensing of policy issuance and claims systems, rent and utilities. The Company markets, distributes and sells its insurance products primarily through a network of independent agents. All of the Company’s insurance activities are conducted in the United States with a concentration of activity in Florida, Michigan, Pennsylvania and Texas. For the three months ended March 31, 2017 and 2016 , gross written premiums attributable to these four states were 58% of the Company’s total gross written premiums. In addition to the reportable operating segments, the Company maintains a Corporate and Other category to reconcile segment results to the consolidated totals. The Corporate and Other category includes: (i) corporate operating expenses such as salaries and related benefits of the Company’s executive management team and finance and information technology personnel, and other corporate headquarters expenses, (ii) interest expense on the Company’s senior debt obligations; (iii) depreciation and amortization on property and equipment, and (iv) all investment income activity. All investment income activity is reported within net investment income and net realized investment gains on the consolidated statements of operations. The Company’s assets on the consolidated balance sheet are not allocated to the reportable segments. The Company redefined its operating segments during the quarter ended June 30, 2016 into two segments, and presented the segment information for the three months ended March 31, 2017 , in a manner consistent with the new operational management structure. The segment information for the three months ended March 31, 2016 , has been recast to be consistent with the new format. The following tables present information by reportable operating segment (dollars in thousands): Three Months Ended March 31, 2017 Commercial Lines Personal Lines Corporate & Other Total Gross written premiums $ 21,644 $ 4,830 $ — $ 26,474 Net written premiums $ 19,479 $ 2,845 $ — $ 22,324 Net earned premiums $ 19,689 $ 4,451 $ — $ 24,140 Other income 164 151 39 354 Segment revenue 19,853 4,602 39 24,494 Losses and loss adjustment expenses, net 12,468 3,265 — 15,733 Policy acquisition costs 5,022 1,450 — 6,472 Operating expenses 2,472 569 1,489 4,530 Segment expenses 19,962 5,284 1,489 26,735 Segment underwriting gain (loss) $ (109 ) $ (682 ) $ (1,450 ) $ (2,241 ) Net investment income 577 577 Net realized investment gains (losses) (8 ) (8 ) Interest expense (224 ) (224 ) Income (loss) before equity earnings of affiliates and income taxes $ (1,105 ) $ (1,896 ) Three Months Ended March 31, 2016 Commercial Lines Personal Lines Corporate & Other Total Gross written premiums $ 19,144 $ 6,249 $ — $ 25,393 Net written premiums $ 16,986 $ 5,064 $ — $ 22,050 Net earned premiums $ 15,279 $ 4,830 $ — $ 20,109 Other income 98 132 15 245 Segment revenue 15,377 4,962 15 20,354 Losses and loss adjustment expenses, net 8,635 4,064 — 12,699 Policy acquisition costs 4,388 1,615 — 6,003 Operating expenses 1,734 669 1,736 4,139 Segment expenses 14,757 6,348 1,736 22,841 Segment underwriting gain (loss) $ 620 $ (1,386 ) $ (1,721 ) $ (2,487 ) Net investment income 537 537 Net realized investment gains (losses) (8 ) (8 ) Interest expense (157 ) (157 ) Income (loss) before equity earnings of affiliates and income taxes $ (1,349 ) $ (2,115 )

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include accounts, after elimination of intercompany accounts and transactions, of Conifer Holdings, Inc. (the “Company” or “Conifer”), its wholly owned subsidiaries, Conifer Insurance Company ("CIC"), White Pine Insurance Company ("WPIC"), Red Cedar Insurance Company ("RCIC"), and Sycamore Insurance Agency, Inc ("SIA"). CIC, WPIC, and RCIC are collectively referred to as the "Insurance Company Subsidiaries." On a stand-alone basis, Conifer Holdings, Inc. is referred to as the "Parent Company." On December 30, 2016, the Company's wholly owned subsidiary, American Colonial Insurance Company ("ACIC") was merged into WPIC, with WPIC as the surviving entity. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”). The Company has applied the applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting and therefore the consolidated financial statements do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments, consisting of items of a normal recurring nature, necessary for a fair presentation of the consolidated interim financial statements, have been included. The results of operations for the three months ended March 31, 2017 , are not necessarily indicative of the results expected for the year ended December 31, 2017 . These consolidated financial statements and the notes thereto should be read in conjunction with the Company's audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2016 , as filed with the SEC on March 15, 2017.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes the amounts included in the consolidated financial statements reflect management's best estimates and assumptions, actual results may differ from these estimates.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this update modify the requirements related to the measurement of certain financial instruments in the statement of financial condition and results of operation. For equity investments (other than investments accounted for using the equity method), entities must measure such instruments at fair value with changes in fair value recognized in net income. Reporting entities may continue to elect to measure equity investments which do not have a readily determinable fair value at cost with adjustments for impairment and observable changes in price. In addition, for a liability (other than a derivative liability) that an entity measures at fair value, any change in fair value related to the instrument-specific credit risk, that is the entity’s own credit risk, should be presented separately in other comprehensive income and not as a component of net income. The amendments are effective for the Company on January 1, 2018, with early adoption permitted solely for the instrument-specific credit risk for liabilities measured at fair value. The amendments must be applied on a modified retrospective basis with a cumulative effect adjustment as of the beginning of the fiscal year of initial adoption. Management is currently evaluating the impact of the guidance. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which addresses the financial reporting of leasing transactions. This update will require the recognition of a right-of-use asset and a corresponding lease liability, discounted to the present value, for all leases that extend beyond 12 months. For operating leases, the asset and liability will be expensed over the lease term on a straight-line basis, with all cash flows included in the operating section of the consolidated statement of cash flows. For finance leases, interest on the lease liability will be recognized separately from the amortization of the right-of-use asset in the consolidated statement of operations and the repayment of the principal portion of the lease liability will be classified as a financing activity while the interest component will be included in the operating section of the consolidated statement of cash flows. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. Management is currently evaluating the impact of the guidance. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), which amends the current methodology and timing for recognizing credit losses. This amendment will replace the current GAAP "incurred loss" methodology for credit losses with a methodology based on expected credit losses. The new guidance will also require expanded consideration of a broader range of reasonable and increased supportable information for the credit loss estimates. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Early adoption is permitted for years beginning after December 15, 2018. Management is currently evaluating the impact of the guidance. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) , which clarifies how certain cash receipts and cash payments should be presented and classified in the statement of cash flow under Topic 230, Statement of Cash Flows . This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption is permitted. Management is currently evaluating the impact of the guidance.
Fair Value Measurements	The Company’s financial instruments include assets and liabilities carried at fair value, as well as assets and liabilities carried at cost or amortized cost but disclosed at fair value in these consolidated financial statements. Fair value is defined as the price that would be received for an asset or paid to transfer a liability in the principally most advantageous market for the asset or liability in an orderly transaction between market participants. In determining fair value, the Company applies the market approach, which uses prices and other relevant data based on market transactions involving identical or comparable assets and liabilities. The inputs to valuation techniques used to measure fair value are prioritized into a three-level hierarchy. The hierarchy gives the highest priority to quoted prices from sources independent of the reporting entity (“observable inputs”) and the lowest priority to prices determined by the reporting entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (“unobservable inputs”). The fair value hierarchy is as follows: Level 1 —Valuations that are based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 —Valuations that are based on observable inputs (other than Level 1 prices) such as quoted prices for similar assets or liabilities at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 —Unobservable inputs that are supported by little or no market activity. The unobservable inputs represent the Company’s best assumption of how market participants would price the assets or liabilities. Level 1 investments consist of equity securities traded in an active exchange market. The Company uses unadjusted quoted prices for identical instruments to measure fair value. Level 1 also includes money market funds and other interest-bearing deposits at banks, which are reported as short-term investments. The fair value measurements that were based on Level 1 inputs comprise 14.7% of the fair value of the total investment portfolio as of March 31, 2017 . Level 2 investments include fixed maturity securities, which consist of U.S. government agency securities, state and local municipal bonds (including those held as restricted securities), corporate debt securities, mortgage-backed and asset-backed securities. The Company obtains pricing for each security from independent pricing services, investment managers or consultants to assist in determining fair value for its Level 2 investments. The fair value of securities included in the Level 2 category based on the market values obtained from a third party pricing service were evaluated using pricing models that vary by asset class and incorporate available trade, bid and other observable market information. The third party pricing service monitors market indicators, as well as industry and economic events. The fair value measurements that were based on Level 2 inputs comprise 85.3% of the fair value of the total investment portfolio as of March 31, 2017 . To validate that these quoted prices are reasonable estimates of fair value, the Company performs various quantitative and qualitative procedures, such as (i) evaluation of the underlying methodologies, (ii) analysis of recent sales activity, (iii) analytical review of our fair values against current market prices and (iv) comparison of the pricing services’ fair value to other pricing services’ fair value for the same investment. No markets for the investments were determined to be inactive at period-ends. Based on these procedures, the Company did not adjust the prices or quotes provided from independent pricing services, investment managers or consultants. The Level 2 financial instruments also include our senior debt. The fair value of borrowings under the senior debt, consisting of the revolving credit facility and term loans, approximates its carrying amount because interest is based on a short-term, variable, market-based rate. The Company’s policy on recognizing transfers between hierarchy levels is applied at the end of each reporting period. There were no transfers between Levels 1, 2 and 3 for the three months ended March 31, 2017 and 2016 , respectively.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	The cost or amortized cost, gross unrealized gain or loss, and estimated fair value of the investments in securities classified as available for sale at March 31, 2017 and December 31, 2016 , were as follows (dollars in thousands): March 31, 2017 Cost or Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses Fixed Maturity Securities: U.S. Government obligations $ 6,894 $ 35 $ (35 ) $ 6,894 State and local government 13,319 163 (163 ) 13,319 Corporate debt 37,672 232 (235 ) 37,669 Commercial mortgage-backed and other asset-backed 56,832 132 (760 ) 56,204 Total fixed maturity securities available for sale 114,717 562 (1,193 ) 114,086 Equity Securities: Common stocks - Public Utilities 103 33 — 136 Common stocks - Banks, Trusts and Insurance Companies 586 88 (6 ) 668 Common stocks - Industrial, miscellaneous and all other 3,602 440 (73 ) 3,969 Total equity securities available for sale 4,291 561 (79 ) 4,773 Total securities available for sale $ 119,008 $ 1,123 $ (1,272 ) $ 118,859 December 31, 2016 Cost or Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses Fixed Maturity Securities: U.S. Government obligations $ 5,908 $ 31 $ (36 ) $ 5,903 State and local government 13,618 106 (205 ) 13,519 Corporate debt 34,105 205 (254 ) 34,056 Commercial mortgage-backed and other asset-backed 60,284 132 (731 ) 59,685 Total fixed maturity securities available for sale 113,915 474 (1,226 ) 113,163 Equity Securities: Common stocks - Public Utilities 159 25 (1 ) 183 Common stocks - Banks, Trusts and Insurance Companies 681 85 (9 ) 757 Common stocks - Industrial, miscellaneous and all other 3,443 256 (60 ) 3,639 Total equity securities available for sale 4,283 366 (70 ) 4,579 Total securities available for sale $ 118,198 $ 840 $ (1,296 ) $ 117,742
Schedule of Unrealized Loss Positions	The following table summarizes the aggregate fair value and gross unrealized losses, by security type, of the available-for-sale securities in unrealized loss positions. The table segregates the holdings based on the length of time that individual securities have been in a continuous unrealized loss position, as follows (dollars in thousands): March 31, 2017 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses Fixed Maturity Securities: U.S. Government obligations 12 $ 4,439 $ (35 ) — $ — $ — 12 $ 4,439 $ (35 ) State and local government 19 6,319 (161 ) 1 99 (2 ) 20 6,418 (163 ) Corporate debt 19 10,521 (227 ) 3 1,021 (8 ) 22 11,542 (235 ) Commercial mortgage and asset-backed 47 40,285 (754 ) 4 547 (6 ) 51 40,832 (760 ) Total fixed maturity securities available for sale 97 61,564 (1,177 ) 8 1,667 (16 ) 105 63,231 (1,193 ) Equity Securities: Common stocks 21 1,041 (73 ) 2 71 (6 ) 23 1,112 (79 ) Total equity securities available for sale 21 1,041 (73 ) 2 71 (6 ) 23 1,112 (79 ) Total securities 118 $ 62,605 $ (1,250 ) 10 $ 1,738 $ (22 ) 128 $ 64,343 $ (1,272 ) December 31, 2016 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Un realized Losses Fixed Maturity Securities: U.S. Government obligations 15 $ 4,539 $ (36 ) — $ — $ — 15 $ 4,539 $ (36 ) State and local government 29 8,217 (202 ) 1 104 (3 ) 30 8,321 (205 ) Corporate debt 22 9,031 (239 ) 7 3,369 (15 ) 29 12,400 (254 ) Commercial mortgage and asset-backed 59 38,048 (722 ) 5 802 (9 ) 64 38,850 (731 ) Total fixed maturity securities available for sale 125 59,835 (1,199 ) 13 4,275 (27 ) 138 64,110 (1,226 ) Equity Securities: Common stock 76 2,472 (61 ) 2 66 (9 ) 78 2,538 (70 ) Total equity securities available for sale 76 2,472 (61 ) 2 66 (9 ) 78 2,538 (70 ) Total securities 201 $ 62,307 $ (1,260 ) 15 $ 4,341 $ (36 ) 216 $ 66,648 $ (1,296 )
Schedule of Investment Income	The Company’s sources of net investment income are as follows (dollars in thousands): Three Months Ended March 31, 2017 2016 Fixed maturity securities $ 601 $ 586 Equity securities 25 26 Cash and short-term investments 11 2 Total investment income 637 614 Investment expenses (60 ) (77 ) Net investment income $ 577 $ 537
Schedule of Gross Realized Gains and Losses on Securities	The following table summarizes the gross realized gains and losses from sales or maturities of available-for-sale fixed maturity and equity securities (dollars in thousands): Three Months Ended March 31, 2017 2016 Fixed maturity securities: Gross realized gains $ — $ 16 Gross realized losses (7 ) (6 ) Total fixed maturity securities (7 ) 10 Equity securities: Gross realized gains 29 56 Gross realized losses (30 ) (74 ) Total equity securities (1 ) (18 ) Total realized losses $ (8 ) $ (8 )
Summary of Amortized Cost and Fair Value of Securities	The table below summarizes the amortized cost and fair value of available-for-sale fixed maturity securities by contractual maturity at March 31, 2017 . Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties (dollars in thousands): Amortized Cost Estimated Fair Value Due in one year or less $ 9,657 $ 9,664 Due after one year through five years 29,272 29,349 Due after five years through ten years 11,494 11,531 Due after ten years 7,462 7,338 Securities with contractual maturities 57,885 57,882 Commercial mortgage and asset backed 56,832 56,204 Total Fixed maturity securities $ 114,717 $ 114,086

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value	The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis, classified by the valuation hierarchy as of March 31, 2017 and December 31, 2016 (dollars in thousands): March 31, 2017 Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Fixed Maturity Securities: U.S. Government obligations $ 6,894 $ — $ 6,894 $ — State and local government 13,319 — 13,319 — Corporate debt 37,669 — 37,669 — Commercial mortgage-backed and other asset-backed 56,204 — 56,204 — Total fixed maturity securities 114,086 — 114,086 — Equity Securities 4,773 4,663 110 — Short-term investments 14,967 14,967 — — Total assets measured at fair value $ 133,826 $ 19,630 $ 114,196 $ — Liabilities: Senior debt* $ 17,125 $ — $ 17,125 $ — Total Liabilities measured at fair value $ 17,125 $ — $ 17,125 $ — * Carried at cost or amortized cost on the consolidated balance sheet December 31, 2016 Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Fixed Maturity Securities: U.S. Government obligations $ 5,903 $ — $ 5,903 $ — State and local government 13,519 — 13,519 — Corporate debt 34,056 — 34,056 — Commercial mortgage-backed and other asset-backed 59,685 — 59,685 — Total fixed maturity securities 113,163 — 113,163 — Equity Securities 4,579 4,469 110 — Short-term investments 10,788 10,788 — — Total assets measured at fair value $ 128,530 $ 15,257 $ 113,273 $ — Liabilities: Senior debt* $ 17,750 $ — $ 17,750 $ — Total Liabilities measured at fair value $ 17,750 $ — $ 17,750 $ — * Carried at cost or amortized cost on the consolidated balance sheet

Deferred Policy Acquisition C24

Deferred Policy Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2017
Deferred Policy Acquisition Costs Disclosures [Abstract]
Summary of Deferred Policy Acquisition Costs	The activity in deferred policy acquisition costs, net of reinsurance transactions, is as follows (dollars in thousands): Three Months Ended 2017 2016 Balance at beginning of period $ 13,290 $ 12,102 Deferred policy acquisition costs 6,138 6,122 Amortization of policy acquisition costs (6,472 ) (6,003 ) Net change (334 ) 119 Balance at end of period $ 12,956 $ 12,221

Unpaid Losses and Loss Adjust25

Unpaid Losses and Loss Adjustment Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Insurance Loss Reserves [Abstract]
Schedule of the Changes in the Reserves for Losses and Loss Adjustment Expense	The table below provides the changes in the reserves for losses and LAE, net of reinsurance recoverables, for the periods indicated as follows (dollars in thousands): Three Months Ended 2017 2016 Gross reserves - beginning of period $ 54,651 $ 35,422 Less: reinsurance recoverables on unpaid losses 6,658 5,405 Net reserves - beginning of period 47,993 30,017 Add: incurred losses and LAE, net of reinsurance: Current period 12,654 11,111 Prior period 3,079 1,588 Total net incurred losses and LAE 15,733 12,699 Deduct: loss and LAE payments, net of reinsurance: Current period 1,903 1,999 Prior period 8,813 7,244 Total net loss and LAE payments 10,716 9,243 Net reserves - end of period 53,010 33,473 Plus: reinsurance recoverables on unpaid losses 9,125 5,015 Gross reserves - end of period $ 62,135 $ 38,488

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2017
Reinsurance Disclosures [Abstract]
Summary of the Effects of Reinsurance	The following table presents the effects of such reinsurance and assumption transactions on premiums and losses and LAE (dollars in thousands): Three Months Ended 2017 2016 Written premiums: Direct $ 20,900 $ 21,600 Assumed 5,574 3,793 Ceded (4,150 ) (3,343 ) Net written premiums $ 22,324 $ 22,050 Earned premiums: Direct $ 22,060 $ 22,241 Assumed 6,204 1,305 Ceded (4,124 ) (3,437 ) Net earned premiums $ 24,140 $ 20,109 Losses and LAE: Direct $ 16,033 $ 13,939 Assumed 3,875 909 Ceded (4,175 ) (2,149 ) Net Losses and LAE $ 15,733 $ 12,699

Senior Debt (Tables)

Senior Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Outstanding Senior Debt	A summary of the outstanding senior debt is as follows (dollars in thousands): March 31, 2017 December 31, 2016 Revolver $ 10,500 $ 10,500 Term Note 1,500 1,750 2014 Term Note 5,125 5,500 Total $ 17,125 $ 17,750

Other Comprehensive Income (L28

Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in accumulated other comprehensive income (loss) for unrealized gains and losses on available-for-sale securities (dollars in thousands): Three Months Ended 2017 2016 Balance at beginning of period $ (1,080 ) $ 182 Other comprehensive income (loss) before reclassifications 385 1,459 Less: amounts reclassified from accumulated other comprehensive income (loss) 51 (83 ) Net current period other comprehensive income (loss) 334 1,542 Balance at end of period $ (746 ) $ 1,724

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table presents the calculation of basic and diluted earnings (loss) per common share, as follows (dollars in thousands, except per share amounts): Three Months Ended 2017 2016 Net income (loss) $ (1,798 ) $ (2,028 ) Weighted average common shares, basic and diluted* 7,633,069 7,638,780 Earnings (loss) per common share, basic and diluted $ (0.24 ) $ (0.27 ) * The 413,000 nonvested shares of the restricted stock units were anti-dilutive as of March 31, 2017 . Therefore, the basic and diluted weighted average common shares are equal for the three months ended March 31, 2017 .

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	The following summarizes our restricted stock unit "RSU" activity (units in thousands): Number of Units Weighted Average Grant-Date Fair Value Outstanding at December 31, 2015 390 $ 10.48 Units granted — — Units vested — — Units forfeited — — Outstanding at March 31, 2016 390 $ 10.48 Units granted 111 8.17 Units vested (77 ) 10.48 Units forfeited (8 ) 9.95 Outstanding at December 31, 2016 416 $ 9.87 Units granted — — Units vested — — Units forfeited (3 ) 9.01 Outstanding at March 31, 2017 413 $ 9.88

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following tables present information by reportable operating segment (dollars in thousands): Three Months Ended March 31, 2017 Commercial Lines Personal Lines Corporate & Other Total Gross written premiums $ 21,644 $ 4,830 $ — $ 26,474 Net written premiums $ 19,479 $ 2,845 $ — $ 22,324 Net earned premiums $ 19,689 $ 4,451 $ — $ 24,140 Other income 164 151 39 354 Segment revenue 19,853 4,602 39 24,494 Losses and loss adjustment expenses, net 12,468 3,265 — 15,733 Policy acquisition costs 5,022 1,450 — 6,472 Operating expenses 2,472 569 1,489 4,530 Segment expenses 19,962 5,284 1,489 26,735 Segment underwriting gain (loss) $ (109 ) $ (682 ) $ (1,450 ) $ (2,241 ) Net investment income 577 577 Net realized investment gains (losses) (8 ) (8 ) Interest expense (224 ) (224 ) Income (loss) before equity earnings of affiliates and income taxes $ (1,105 ) $ (1,896 ) Three Months Ended March 31, 2016 Commercial Lines Personal Lines Corporate & Other Total Gross written premiums $ 19,144 $ 6,249 $ — $ 25,393 Net written premiums $ 16,986 $ 5,064 $ — $ 22,050 Net earned premiums $ 15,279 $ 4,830 $ — $ 20,109 Other income 98 132 15 245 Segment revenue 15,377 4,962 15 20,354 Losses and loss adjustment expenses, net 8,635 4,064 — 12,699 Policy acquisition costs 4,388 1,615 — 6,003 Operating expenses 1,734 669 1,736 4,139 Segment expenses 14,757 6,348 1,736 22,841 Segment underwriting gain (loss) $ 620 $ (1,386 ) $ (1,721 ) $ (2,487 ) Net investment income 537 537 Net realized investment gains (losses) (8 ) (8 ) Interest expense (157 ) (157 ) Income (loss) before equity earnings of affiliates and income taxes $ (1,349 ) $ (2,115 )

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended
	Mar. 31, 2017class_businessstate
Accounting Policies [Abstract]
Number of business classes | class_business	2
Number of states in which entity operates | state	50
Ownership percentage	50.00%

Investments - Available-for-sal

Investments - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Fixed maturity securities, amortized cost	$ 114,717	$ 113,915
Fixed maturity securities, gross unrealized gain	562	474
Fixed maturity securities, gross unrealized loss	(1,193)	(1,226)
Fixed maturity securities, Estimated Fair Value	114,086	113,163
Equity securities, amortized cost	4,291	4,283
Equity securities, gross unrealized gain	561	366
Equity securities, gross unrealized loss	(79)	(70)
Equity securities, Estimated Fair Value	4,773	4,579
Securities, cost or amortized cost	119,008	118,198
Securities, gross unrealized gain	1,123	840
Securities, gross unrealized loss	(1,272)	(1,296)
Securities, Estimated Fair Value	118,859	117,742
U.S. Government obligations
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Fixed maturity securities, amortized cost	6,894	5,908
Fixed maturity securities, gross unrealized gain	35	31
Fixed maturity securities, gross unrealized loss	(35)	(36)
Fixed maturity securities, Estimated Fair Value	6,894	5,903
State and local government
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Fixed maturity securities, amortized cost	13,319	13,618
Fixed maturity securities, gross unrealized gain	163	106
Fixed maturity securities, gross unrealized loss	(163)	(205)
Fixed maturity securities, Estimated Fair Value	13,319	13,519
Corporate debt
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Fixed maturity securities, amortized cost	37,672	34,105
Fixed maturity securities, gross unrealized gain	232	205
Fixed maturity securities, gross unrealized loss	(235)	(254)
Fixed maturity securities, Estimated Fair Value	37,669	34,056
Commercial mortgage-backed and other asset-backed
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Fixed maturity securities, amortized cost	56,832	60,284
Fixed maturity securities, gross unrealized gain	132	132
Fixed maturity securities, gross unrealized loss	(760)	(731)
Fixed maturity securities, Estimated Fair Value	56,204	59,685
Common stocks - Public Utilities
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Equity securities, amortized cost	103	159
Equity securities, gross unrealized gain	33	25
Equity securities, gross unrealized loss	0	(1)
Equity securities, Estimated Fair Value	136	183
Common stocks - Banks, Trusts and Insurance Companies
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Equity securities, amortized cost	586	681
Equity securities, gross unrealized gain	88	85
Equity securities, gross unrealized loss	(6)	(9)
Equity securities, Estimated Fair Value	668	757
Common stocks - Industrial, miscellaneous and all other
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Equity securities, amortized cost	3,602	3,443
Equity securities, gross unrealized gain	440	256
Equity securities, gross unrealized loss	(73)	(60)
Equity securities, Estimated Fair Value	$ 3,969	$ 3,639

Investments - Available-for-s34

Investments - Available-for-sale Securities in Unrealized Loss Positions (Details) $ in Thousands	Mar. 31, 2017USD ($)security	Dec. 31, 2016USD ($)security
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]
Less than 12 months, number of issues | security	118	201
Greater than 12 months, number of issues | security	10	15
Number of Issues | security	128	216
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months, fair value	$ 62,605	$ 62,307
Greater than 12 months, fair value	1,738	4,341
Fair Value	64,343	66,648
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract]
Less than 12 months, unrealized losses	(1,250)	(1,260)
Greater than 12 months, unrealized losses	(22)	(36)
Unrealized losses	$ (1,272)	$ (1,296)
Total fixed maturity securities available for sale
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]
Less than 12 months, number of issues | security	97	125
Greater than 12 months, number of issues | security	8	13
Number of Issues | security	105	138
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months, fair value	$ 61,564	$ 59,835
Greater than 12 months, fair value	1,667	4,275
Fair Value	63,231	64,110
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract]
Less than 12 months, unrealized losses	(1,177)	(1,199)
Greater than 12 months, unrealized losses	(16)	(27)
Unrealized losses	$ (1,193)	$ (1,226)
U.S. Government obligations
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]
Less than 12 months, number of issues | security	12	15
Greater than 12 months, number of issues | security	0	0
Number of Issues | security	12	15
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months, fair value	$ 4,439	$ 4,539
Greater than 12 months, fair value	0	0
Fair Value	4,439	4,539
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract]
Less than 12 months, unrealized losses	(35)	(36)
Greater than 12 months, unrealized losses	0	0
Unrealized losses	$ (35)	$ (36)
State and local government
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]
Less than 12 months, number of issues | security	19	29
Greater than 12 months, number of issues | security	1	1
Number of Issues | security	20	30
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months, fair value	$ 6,319	$ 8,217
Greater than 12 months, fair value	99	104
Fair Value	6,418	8,321
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract]
Less than 12 months, unrealized losses	(161)	(202)
Greater than 12 months, unrealized losses	(2)	(3)
Unrealized losses	$ (163)	$ (205)
Corporate debt
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]
Less than 12 months, number of issues | security	19	22
Greater than 12 months, number of issues | security	3	7
Number of Issues | security	22	29
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months, fair value	$ 10,521	$ 9,031
Greater than 12 months, fair value	1,021	3,369
Fair Value	11,542	12,400
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract]
Less than 12 months, unrealized losses	(227)	(239)
Greater than 12 months, unrealized losses	(8)	(15)
Unrealized losses	$ (235)	$ (254)
Commercial mortgage-backed and other asset-backed
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]
Less than 12 months, number of issues | security	47	59
Greater than 12 months, number of issues | security	4	5
Number of Issues | security	51	64
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months, fair value	$ 40,285	$ 38,048
Greater than 12 months, fair value	547	802
Fair Value	40,832	38,850
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract]
Less than 12 months, unrealized losses	(754)	(722)
Greater than 12 months, unrealized losses	(6)	(9)
Unrealized losses	$ (760)	$ (731)
Common stocks
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]
Less than 12 months, number of issues | security	21	76
Greater than 12 months, number of issues | security	2	2
Number of Issues | security	23	78
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Less than 12 months, fair value	$ 1,041	$ 2,472
Greater than 12 months, fair value	71	66
Fair Value	1,112	2,538
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract]
Less than 12 months, unrealized losses	(73)	(61)
Greater than 12 months, unrealized losses	(6)	(9)
Unrealized losses	$ (79)	$ (70)

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net Investment Income [Line Items]
Investment income	$ 637	$ 614
Investment expenses	(60)	(77)
Net investment income	577	537
Fixed maturity securities
Net Investment Income [Line Items]
Investment income	601	586
Equity securities
Net Investment Income [Line Items]
Investment income	25	26
Cash and short-term investments
Net Investment Income [Line Items]
Investment income	$ 11	$ 2

Investments - Gross Realized Ga

Investments - Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Net realized investment gains	$ (8)	$ (8)
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	0	16
Gross realized losses	(7)	(6)
Net realized investment gains	(7)	10
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains	29	56
Gross realized losses	(30)	(74)
Net realized investment gains	$ (1)	$ (18)

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Proceeds from sale of available for sale securities	$ 7.2	$ 2.6
Deposits held in trust accounts	9.1		$ 9.6
Deposits, held in trust for collateral requirements	$ 10.4		$ 10.3

Investments - Available-for-s38

Investments - Available-for-sale Fixed Maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Amortized Cost
Due in one year or less, amortized cost	$ 9,657
Due after one year through five years, amortized cost	29,272
Due after five years through ten years, amortized cost	11,494
Due after ten years, amortized cost	7,462
Securities with contractual maturities, amortized cost	57,885
Commercial mortgage and asset-backed, amortized cost	56,832
Fixed maturity securities, amortized cost	114,717	$ 113,915
Estimated Fair Value
Due in one year or less, fair value	9,664
Due after one year through five years, fair value	29,349
Due after five years through ten years, fair value	11,531
Due after ten years, fair value	7,338
Securities with contractual maturities, fair value	57,882
Commercial mortgage and asset-backed, fair value	56,204
Fixed maturity securities	$ 114,086	$ 113,163

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	$ 114,086	$ 113,163
Equity securities	4,773	4,579
Short-term investments	14,967	10,788
Total assets measured at fair value	133,826	128,530
Total liabilities measured at fair value	17,125	17,750
Senior debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior debt	17,125	17,750
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	14,967	10,788
Total assets measured at fair value	19,630	15,257
Total liabilities measured at fair value		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior debt		0
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets measured at fair value	114,196	113,273
Total liabilities measured at fair value	17,125	17,750
Significant Other Observable Inputs (Level 2) | Senior debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior debt	17,125	17,750
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total liabilities measured at fair value		0
Significant Unobservable Inputs (Level 3) | Senior debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior debt		0
U.S. Government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	6,894	5,903
U.S. Government obligations | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	6,894	5,903
State and local government
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	13,319	13,519
State and local government | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	13,319	13,519
Corporate debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	37,669	34,056
Corporate debt | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	37,669	34,056
Commercial mortgage-backed and other asset-backed
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	56,204	59,685
Commercial mortgage-backed and other asset-backed | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	56,204	59,685
Fixed maturity securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	114,086	113,163
Fixed maturity securities | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities	114,086	113,163
Common stocks
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities	4,773	4,579
Common stocks | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities	4,663	4,469
Common stocks | Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities	$ 110	$ 110

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	Mar. 31, 2017
Level 1
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Investment portfolio percentage	14.70%
Level 2
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Investment portfolio percentage	85.30%

Deferred Policy Acquisition C41

Deferred Policy Acquisition Costs - Activity in Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance at beginning of period	$ 13,290	$ 12,102
Deferred policy acquisition costs	6,138	6,122
Amortization of policy acquisition costs	(6,472)	(6,003)
Net change	(334)	119
Balance at end of period	$ 12,956	$ 12,221

Unpaid Losses and Loss Adjust42

Unpaid Losses and Loss Adjustment Expenses - Changes in the Liability for Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves - beginning of period	$ 54,651	$ 35,422
Less: reinsurance recoverables on unpaid losses	6,658	5,405
Net reserves - beginning of period	47,993	30,017
Add: incurred losses and LAE, net of reinsurance:
Current period	12,654	11,111
Prior period	3,079	1,588
Total net incurred losses and LAE	15,733	12,699
Deduct: loss and LAE payments, net of reinsurance:
Current period	1,903	1,999
Prior period	8,813	7,244
Total net loss and LAE payments	10,716	9,243
Net reserves - end of period	53,010	33,473
Plus: reinsurance recoverables on unpaid losses	9,125	5,015
Gross reserves - end of period	$ 62,135	$ 38,488

Unpaid Losses and Loss Adjust43

Unpaid Losses and Loss Adjustment Expenses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development	$ 3,079	$ 1,588
Commercial property line
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development	1,600
Commercial multi-peril line
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development		(271)
Liability line of business
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development	1,300
Florida homeowners line
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development	325	758
Personal automobile line
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development	$ 201	547
Other liability line
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development		(456)
Commercial automobile line
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development		858
Workers’ compensation line
Liability for Claims and Claims Adjustment Expense [Line Items]
Prior-year adverse (favorable) reserve development		$ (253)

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Maximum
Effects of Reinsurance [Line Items]
Amount retained (excess of)	$ 500,000	$ 500,000

Reinsurance - Effects of Reinsu

Reinsurance - Effects of Reinsurance and Assumption Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Written premiums:
Direct	$ 20,900	$ 21,600
Assumed	5,574	3,793
Ceded	(4,150)	(3,343)
Net written premiums	22,324	22,050
Earned premiums:
Direct	22,060	22,241
Assumed	6,204	1,305
Ceded	(4,124)	(3,437)
Net earned premiums	24,140	20,109
Losses and LAE:
Direct	16,033	13,939
Assumed	3,875	909
Ceded	(4,175)	(2,149)
Total net incurred losses and LAE	$ 15,733	$ 12,699

Senior Debt - Narrative (Detail

Senior Debt - Narrative (Details)	1 Months Ended
	Sep. 30, 2014USD ($)	Oct. 31, 2013USD ($)	Mar. 31, 2017USD ($)debt_instrument
Revolver
Debt Instrument [Line Items]
Remaining borrowing capacity			$ 7,000,000
Secured Debt
Debt Instrument [Line Items]
Number of debt instruments | debt_instrument			3
Secured Debt | Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 17,500,000
Term Note | Secured Debt
Debt Instrument [Line Items]
Face amount of debt instrument		$ 5,000,000
Term of debt instrument		5 years
2014 Term Note | Secured Debt
Debt Instrument [Line Items]
Face amount of debt instrument	$ 7,500,000
Term of debt instrument	5 years

Senior Debt - Outstanding Senio

Senior Debt - Outstanding Senior Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt	$ 17,125	$ 17,750
Revolver
Debt Instrument [Line Items]
Debt	10,500	10,500
Term Note
Debt Instrument [Line Items]
Debt	1,500	1,750
2014 Term Note
Debt Instrument [Line Items]
Debt	$ 5,125	$ 5,500

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	Feb. 25, 2016	Mar. 31, 2017	Mar. 31, 2016
Stock Repurchase Program, February 2016
Equity, Class of Treasury Stock [Line Items]
Authorized amount of stock repurchase program	$ 2,100,000
Stock repurchase program, period	1 year
Common stocks
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired during period, shares		0	88,650
Stock repurchased and retired during period, value			$ 625,000

Other Comprehensive Income (L49

Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 67,794	$ 77,262	$ 76,749
Other comprehensive income (loss) before reclassifications	385	1,459
Less: amounts reclassified from accumulated other comprehensive income (loss)	51	(83)
Other comprehensive income (loss)	334	1,542	(2,804)
Balance at end of period	66,573	76,749	67,794
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,080)	182	1,724
Other comprehensive income (loss)	334	1,542	(2,804)
Balance at end of period	$ (746)	$ 1,724	$ (1,080)

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income (loss)	$ (1,798)	$ (2,028)
Weighted average common shares outstanding, basic and diluted	7,633,069	7,638,780
Earnings (loss) per per common share, basic and diluted (in dollars per share)	$ (0.24)	$ (0.27)
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	413,000

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - 2015 Omnibus Incentive Plan - Restricted Stock Units (RSUs) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period	0	0	111,000	111,281	390,352
Stock granted, value				$ 909	$ 4,100
Share-based compensation expense	$ 243	$ 204
Share-based compensation expense not yet recognized	$ 3,500

Stock-based Compensation - RSU

Stock-based Compensation - RSU Activity (Details) - 2015 Omnibus Incentive Plan - Restricted Stock Units (RSUs) - $ / shares	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning period, outstanding (in shares)	416,000	390,000	390,352	390,000
Units granted (in shares)	0	0	111,000	111,281	390,352
Units vested (in shares)	0	0	(77,000)
Units forfeited (in shares)	(3,000)	0	(8,000)
Ending period, outstanding (in shares)	413,000	390,352	416,000	416,000	390,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning period, outstanding (in dollars per share)	$ 9.87	$ 10.48	$ 10.48	$ 10.48
Units granted (in dollars per share)	0	0	8.17
Units vested (in dollars per share)	0	0	10.48
Units forfeited (in dollars per share)	9.01	0	9.95
Ending period, outstanding (in dollars per share)	$ 9.88	$ 10.48	$ 9.87	$ 9.87	$ 10.48

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2017class_businessbusiness	Mar. 31, 2016
Segment Reporting Information [Line Items]
Number of business classes | class_business	2
Number of operating segments | business	2
Gross Written Premiums | Geographic Concentration Risk | Florida, Michigan, Pennsylvania and Texas
Segment Reporting Information [Line Items]
Concentration risk	58.00%	58.00%

Segment Information - Informati

Segment Information - Information by Reportable Operating Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Gross written premiums	$ 26,474	$ 25,393
Net written premiums	22,324	22,050
Net earned premiums	24,140	20,109
Other income	354	245
Segment revenue	24,494	20,354
Losses and loss adjustment expenses, net	15,733	12,699
Policy acquisition costs	6,472	6,003
Operating expenses	4,530	4,139
Segment expenses	26,735	22,841
Segment underwriting gain (loss)	(2,241)	(2,487)
Net investment income	577	537
Net realized investment gains (losses)	(8)	(8)
Interest expense	(224)	(157)
Income (loss) before equity earnings of affiliates and income taxes	(1,896)	(2,115)
Operating Segments | Commercial Lines
Segment Reporting Information [Line Items]
Gross written premiums	21,644	19,144
Net written premiums	19,479	16,986
Net earned premiums	19,689	15,279
Other income	164	98
Segment revenue	19,853	15,377
Losses and loss adjustment expenses, net	12,468	8,635
Policy acquisition costs	5,022	4,388
Operating expenses	2,472	1,734
Segment expenses	19,962	14,757
Segment underwriting gain (loss)	(109)	620
Operating Segments | Personal Lines
Segment Reporting Information [Line Items]
Gross written premiums	4,830	6,249
Net written premiums	2,845	5,064
Net earned premiums	4,451	4,830
Other income	151	132
Segment revenue	4,602	4,962
Losses and loss adjustment expenses, net	3,265	4,064
Policy acquisition costs	1,450	1,615
Operating expenses	569	669
Segment expenses	5,284	6,348
Segment underwriting gain (loss)	(682)	(1,386)
Corporate & Other
Segment Reporting Information [Line Items]
Gross written premiums	0	0
Net written premiums	0	0
Net earned premiums	0	0
Other income	39	15
Segment revenue	39	15
Losses and loss adjustment expenses, net	0	0
Policy acquisition costs	0	0
Operating expenses	1,489	1,736
Segment expenses	1,489	1,736
Segment underwriting gain (loss)	(1,450)	(1,721)
Net investment income	577	537
Net realized investment gains (losses)	(8)	(8)
Interest expense	(224)	(157)
Income (loss) before equity earnings of affiliates and income taxes	$ (1,105)	$ (1,349)