Conifer (CNFR) 10-Q 10 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 10, 2021
Cover [Abstract]
Entity Registrant Name	Conifer Holdings, Inc.
Entity Central Index Key	0001502292
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,707,817
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	CNFR
Security Exchange Name	NASDAQ
Entity File Number	001-37536
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	27-1298795
Entity Address, Address Line One	550 West Merrill Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Birmingham
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48009
City Area Code	248
Local Phone Number	559-0840
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investment securities:
Debt securities, at fair value (amortized cost of $146,831 and $149,954, respectively)	$ 146,710	$ 151,999
Equity securities, at fair value (cost of $21,942 and $16,912, respectively)	19,687	17,891
Short-term investments, at fair value	10,142	13,317
Total investments	176,539	183,207
Cash and cash equivalents	7,507	8,193
Premiums and agents' balances receivable, net	22,252	20,162
Receivable from Affiliate	8,940	8
Reinsurance recoverables on unpaid losses	23,056	24,218
Reinsurance recoverables on paid losses	4,340	2,138
Prepaid reinsurance premiums	4,225	1,316
Deferred policy acquisition costs	13,611	12,243
Other assets	8,465	10,112
Total assets	268,935	261,597
Liabilities:
Unpaid losses and loss adjustment expenses	119,854	111,270
Unearned premiums	65,036	56,224
Reinsurance premiums payable	750
Debt	34,486	40,997
Accounts payable and accrued expenses	6,701	8,693
Total liabilities	226,827	217,184
Commitments and contingencies	0	0
Shareholders' equity:
Common stock, no par value (100,000,000 shares authorized; 9,706,156 and 9,681,728 issued and outstanding, respectively)	92,659	92,486
Accumulated deficit	(49,278)	(48,985)
Accumulated other comprehensive income (loss)	(1,273)	912
Total shareholders' equity	42,108	44,413
Total liabilities and shareholders' equity	$ 268,935	$ 261,597

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Debt securities, amortized cost	$ 146,831	$ 149,954
Equity securities, amortized cost	$ 21,942	$ 16,912
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	9,706,156	9,681,728
Common stock, shares outstanding (in shares)	9,706,156	9,681,728

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue and Other Income
Gross earned premiums		$ 31,770	$ 26,872	$ 90,245	$ 78,884
Ceded earned premiums		(6,829)	(4,645)	(17,631)	(12,882)
Net earned premiums		24,941	22,227	72,614	66,002
Net investment income		514	776	1,549	2,593
Net realized investment gains (losses)		(101)	3,316	3,883	4,489
Change in fair value of equity securities		(2,169)	(356)	(3,234)	(1,866)
Other gains		2,778		11,688	260
Other income		752	642	1,974	2,013
Total revenue and other income		26,715	26,605	88,474	73,491
Expenses
Losses and loss adjustment expenses, net		16,159	14,553	53,447	40,767
Policy acquisition costs		7,173	6,483	20,819	19,181
Operating expenses		4,077	4,537	12,768	14,441
Interest expense		701	723	2,154	2,185
Total expenses		28,110	26,296	89,188	76,574
Income (loss) before equity earnings in Affiliate and income taxes		(1,395)	309	(714)	(3,083)
Equity earnings in Affiliate, net of tax		184	188	612	417
Income tax expense (benefit)		(2)	(44)	191	13
Net income (loss)		$ (1,209)	$ 541	$ (293)	$ (2,679)
Earnings (loss) per common share, basic and diluted		$ (0.12)	$ 0.06	$ (0.03)	$ (0.28)
Weighted average common shares outstanding, basic and diluted	[1]	9,692,150	9,630,600	9,686,874	9,606,436
[1]	The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2021 and 2020.  Therefore, the basic and diluted weighted average common shares are equal for the three and nine months ended September 30, 2021 and 2020

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (1,209)	$ 541	$ (293)	$ (2,679)
Unrealized investment gains (losses):
Unrealized investment gains (losses) during the period	(570)	(1,085)	(2,100)	2,617
Income tax (benefit) expense	0	0	0	0
Unrealized investment gains (losses), net of tax	(570)	(1,085)	(2,100)	2,617
Less: reclassification adjustments to:
Net realized investment gains (losses) included in net income (loss)	44	292	85	678
Income tax (benefit) expense	0	0	0	0
Total reclassifications included in net income (loss), net of tax	44	292	85	678
Other comprehensive income (loss)	(614)	(1,377)	(2,185)	1,939
Total comprehensive income (loss)	$ (1,823)	$ (836)	$ (2,478)	$ (740)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	No Par, Common Stock	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period at Dec. 31, 2019	$ 42,725	$ 91,816	$ (49,580)	$ 489
Balance at beginning of period (in shares) at Dec. 31, 2019		9,592,861
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,679)		(2,679)
Repurchase of common stock	(35)	$ (35)
Repurchase of common stock (in shares)		(11,211)
Restricted stock unit expense, net	636	$ 636
Restricted stock unit expense, net (in shares)		96,813
Other comprehensive income (loss)	1,939			1,939
Balance at end of period at Sep. 30, 2020	42,586	$ 92,417	(52,259)	2,428
Balance at ending of period (in shares) at Sep. 30, 2020		9,678,463
Balance at beginning of period at Jun. 30, 2020	43,280	$ 92,275	(52,800)	3,805
Balance at beginning of period (in shares) at Jun. 30, 2020		9,598,155
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	541		541
Repurchase of common stock	(19)	$ (19)
Repurchase of common stock (in shares)		(6,505)
Restricted stock unit expense, net	161	$ 161
Restricted stock unit expense, net (in shares)		86,813
Other comprehensive income (loss)	(1,377)			(1,377)
Balance at end of period at Sep. 30, 2020	42,586	$ 92,417	(52,259)	2,428
Balance at ending of period (in shares) at Sep. 30, 2020		9,678,463
Balance at beginning of period at Dec. 31, 2020	44,413	$ 92,486	(48,985)	912
Balance at beginning of period (in shares) at Dec. 31, 2020		9,681,728
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(293)		(293)
Repurchase of common stock	(11)	$ (11)
Repurchase of common stock (in shares)		(3,547)
Stock-based compensation expense	184	$ 184
Stock-based compensation expense, Shares		27,975
Other comprehensive income (loss)	(2,185)			(2,185)
Balance at end of period at Sep. 30, 2021	42,108	$ 92,659	(49,278)	(1,273)
Balance at ending of period (in shares) at Sep. 30, 2021		9,706,156
Balance at beginning of period at Jun. 30, 2021	43,884	$ 92,612	(48,069)	(659)
Balance at beginning of period (in shares) at Jun. 30, 2021		9,689,421
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,209)		(1,209)
Repurchase of common stock	(4)	$ (4)
Repurchase of common stock (in shares)		(1,240)
Stock-based compensation expense	51	$ 51
Stock-based compensation expense, Shares		17,975
Other comprehensive income (loss)	(614)			(614)
Balance at end of period at Sep. 30, 2021	$ 42,108	$ 92,659	$ (49,278)	$ (1,273)
Balance at ending of period (in shares) at Sep. 30, 2021		9,706,156

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows From Operating Activities
Net income (loss)	$ (293)	$ (2,679)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Gain on sale of agency business	(8,910)	0
Depreciation and amortization	320	330
Amortization of bond premium and discount, net	388	469
Net realized investment (gains) losses	(3,917)	(4,489)
Change in fair value of equity securities	3,234	1,866
Stock-based compensation expenses	184	636
Equity earnings in Affiliate, net of tax	(612)	(417)
Other	(2,728)	(261)
(Increase) decrease in:
Premiums and agents' balances and other receivables	(2,022)	332
Reinsurance recoverables	(1,040)	5,674
Prepaid reinsurance premiums	(2,909)	(3,293)
Deferred policy acquisition costs	(1,368)	(371)
Other assets	408	281
Increase (decrease) in:
Unpaid losses and loss adjustment expenses	8,584	(3,562)
Unearned premiums	8,812	3,586
Reinsurance premiums payable	750	0
Accounts payable and other liabilities	(869)	(1,097)
Net cash provided by (used in) operating activities	(1,988)	(2,995)
Cash Flows From Investing Activities
Purchase of investments	(149,486)	(245,583)
Proceeds from maturities and redemptions of investments	17,859	16,648
Proceeds from sales of investments	135,591	226,993
Proceeds from sale of agency business	1,000	0
Dividends from Affiliate	900	0
Other purchases	(531)	0
Purchases of property and equipment	(20)	(62)
Net cash provided by (used in) investing activities	5,313	(2,004)
Cash Flows From Financing Activities
Repurchase of common stock	(11)	(35)
Repurchase of senior unsecured notes	0	(625)
Borrowings under debt arrangements	3,000	5,745
Repayment of borrowings under debt arrangements	(7,000)	0
Net cash provided by (used in) financing activities	(4,011)	5,085
Net increase (decrease) in cash	(686)	86
Cash at beginning of period	8,193	7,464
Cash at end of period	7,507	7,550
Supplemental Disclosure of Cash Flow Information:
Interest paid	2,183	1,938
Note receivable from sale of agency business	9,000	0
Payable from purchase of agency	$ 520	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of Presentation and Management Representation 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. ("Sycamore"). 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." Sycamore owns a 50% non-controlling interest in Venture Holdings, Inc. (“Venture” or “Affiliate”). The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which differ from statutory accounting practices prescribed or permitted for insurance companies by regulatory authorities. The Company has applied the 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. 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, 2020, as filed with the SEC. The results of operations for the nine months ended September 30, 2021, are not necessarily indicative of the results expected for the year ended December 31, 2021. In addition, there are risks and uncertainties associated with the novel coronavirus (" COVID -19") and the impact it may have on our business, results of operations and financial condition. The COVID -19 pandemic has negatively impacted the U.S. and global economies, created significant volatility and disruption in the capital markets, dramatically increased unemployment levels and has fueled concerns that it has led to a global recession. Depending on the duration and severity of the pandemic, we foresee the potential for adverse impacts related to, among other things: (i) sales results; (ii) insurance product margin; (iii) net investment income; (iv) invested assets; (v) regulatory capital; (vi) liabilities for insurance products; (vii) access to capital markets; and (viii) the present value of future profits. The full extent to which COVID -19 will impact our business, results of operations and financial condition remains uncertain. Business The Company is engaged in the sale of property and casualty insurance products and has organized its principal operations into three types of insurance businesses: commercial lines, personal lines, and agency business. 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, including managing general agents, whereby policies are written in all 50 states in the United States of America (“U.S.”). The Company’s corporate headquarters are located in Birmingham, Michigan with additional office facilities in Florida and Michigan. 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. Cash, Cash Equivalents, and Short-term Investments Cash consists of cash deposits in banks, generally in operating accounts. Cash equivalents consist of money-market funds that are specifically used as overnight investments tied to cash deposit accounts. Short-term investments, consisting of money-market funds, are classified as investments in the consolidated balance sheets as they relate to the Company’s investment activities. Recently Issued Accounting Guidance In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Sale of Certain Agency Business

Sale of Certain Agency Business	9 Months Ended
	Sep. 30, 2021
Disclosure Text Block [Abstract]
Sale of Certain Agency Business	2. Sale of Certain Agency Business On June 30, 2021, Sycamore Insurance Agency sold to Venture Agency Holdings, Inc. the customer accounts and other related assets of some of its personal and commercial lines of business, hereby referred to as the (“Venture Transaction”). The customer accounts consist substantially of new and renewal rights and customer lists of the agency. Sycamore will continue to produce various personal and commercial lines that it did not sell to Venture, which is substantially all produced for, and underwritten by, the Insurance Company Subsidiaries. The Company recognized an $8.9 million gain on the sale which is reflected in Other Gains on the Consolidated Statements of Operations. The purchase price was $10.0 million of which $1.0 million was paid in cash on June 30, 2021, and $9.0 million was in the form of two promissory notes (one for $6.0 million and one for $3.0 million). Both notes require interest-only quarterly payments at a per annum rate of 7.0%, with a five-year The assets sold included the customer accounts of substantially all of the personal lines business and a small subset of the commercial lines business underwritten by the Insurance Company Subsidiaries, and all of the customer accounts Sycamore produced for third-party insurers. The transaction included the transition of 21 employees from Conifer to Venture as well as necessary systems and office functions to operate the business. Venture is not assuming any in-force business or liabilities.

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Investments	3. The cost or amortized cost, gross unrealized gains or losses, and estimated fair value of the investments in securities classified as available for sale at September 30, 2021 and December 31, 2020, were as follows (dollars in thousands): September 30, 2021 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 20,721 $ 124 $ (26 ) $ 20,819 State and local government 30,927 651 (161 ) 31,417 Corporate debt 23,420 97 (309 ) 23,208 Asset-backed securities 31,051 20 (91 ) 30,980 Mortgage-backed securities 32,798 137 (650 ) 32,285 Commercial mortgage-backed securities 1,791 51 — 1,842 Collateralized mortgage obligations 6,123 62 (26 ) 6,159 Total debt securities available for sale $ 146,831 $ 1,142 $ (1,263 ) $ 146,710 December 31, 2020 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 30,743 $ 225 $ (1 ) $ 30,967 State and local government 32,253 1,040 (28 ) 33,265 Corporate debt 19,015 311 (23 ) 19,303 Asset-backed securities 20,987 49 (73 ) 20,963 Mortgage-backed securities 38,512 345 (3 ) 38,854 Commercial mortgage-backed securities 2,083 65 (22 ) 2,126 Collateralized mortgage obligations 6,361 161 (1 ) 6,521 Total debt securities available for sale $ 149,954 $ 2,196 $ (151 ) $ 151,999 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 (dollars in thousands): September 30, 2021 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses Debt Securities: U.S. Government 5 $ 7,659 $ (26 ) — $ — $ — 5 $ 7,659 $ (26 ) State and local government 44 8,447 (147 ) 3 349 (14 ) 47 8,796 (161 ) Corporate debt 27 15,978 (266 ) 1 707 (43 ) 28 16,685 (309 ) Asset-backed securities 12 14,644 (88 ) 3 2,249 (3 ) 15 16,893 (91 ) Mortgage-backed securities 9 27,195 (650 ) — — — 9 27,195 (650 ) Commercial mortgage-backed securities — — — — — — — — — Collateralized mortgage obligations 6 2,145 (25 ) 2 47 (1 ) 8 2,192 (26 ) Total debt securities available for sale 103 $ 76,068 $ (1,202 ) 9 $ 3,352 $ (61 ) 112 $ 79,420 $ (1,263 ) December 31, 2020 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses Debt Securities: U.S. Government 2 $ 6,764 $ (1 ) — $ — $ — 2 $ 6,764 $ (1 ) State and local government 16 3,905 (28 ) — — — 16 3,905 (28 ) Corporate debt 2 1,051 (23 ) — — — 2 1,051 (23 ) Asset-backed securities 7 6,050 (34 ) 11 6,551 (39 ) 18 12,601 (73 ) Mortgage-backed securities 2 1,652 (3 ) — — — 2 1,652 (3 ) Commercial mortgage-backed securities 1 899 (22 ) — — — 1 899 (22 ) Collateralized mortgage obligations 2 195 (1 ) — — — 2 195 (1 ) Total debt securities available for sale 32 $ 20,516 $ (112 ) 11 $ 6,551 $ (39 ) 43 $ 27,067 $ (151 ) 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 and nine months ended September 30, 2021 and 2020 . The Company’s sources of net investment income and losses are as follows (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Debt securities $ 562 $ 794 $ 1,716 $ 2,590 Equity securities 63 60 166 168 Cash, cash equivalents and short-term investments 1 — 2 143 Total investment income 626 854 1,884 2,901 Investment expenses (112 ) (78 ) (335 ) (308 ) Net investment income $ 514 $ 776 $ 1,549 $ 2,593 The following table summarizes the gross realized gains and losses from sales, calls and maturities of available-for-sale debt and equity securities (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Debt securities: Gross realized gains $ 2 $ 2,037 $ 29 $ 2,757 Gross realized losses — (2 ) (6 ) (6 ) Total debt securities 2 2,035 23 2,751 Equity securities: Gross realized gains 55 1,905 4,063 2,853 Gross realized losses (158 ) (624 ) (203 ) (1,115 ) Total equity securities (103 ) 1,281 3,860 1,738 Total net realized investment gains (losses) $ (101 ) $ 3,316 $ 3,883 $ 4,489 Proceeds from the sales of available-for-sale debt securities were $25.6 million and $58.3 million for the nine months ended September 30, 2021 and 2020, respectively. There were no gross realized gains or losses from the sales of available-for-sale securities for the three months ended September 30, 2021. The gross realized gains and losses from the sales of available-for-sale debt securities for the nine months ended September 30, 2021, were $27,000 and $6,000, respectively. The gross realized gains and losses from the sales of available-for-sale debt securities for the three months ended September 30, 2020 were $2.0 million and $0, respectively. The gross realized gains and losses from the sales of available-for-sale debt securities for the nine months ended September 30, 2020, were $2.8 million and $0, respectively. As of September 30, 2021 and 2020, there were $43,000 and $10.8 million of payables from securities purchased, respectively. There were $3,000 and $3.5 million of receivables from securities sold as of September 30, 2021, and 2020, respectively. The Company carries other equity investments that do not have a readily determinable fair value at cost, less impairment or observable changes in price. We review these investments for impairment during each reporting period. There were no impairments or observable changes in price recorded during 2021 related to the Company's equity securities without readily determinable fair value. These investments are included in Other Assets in the Consolidated Balance Sheets and amounted to $1.2 million as of September 30, 2021 and December 31, 2020. The table below summarizes the amortized cost and fair value of available-for-sale debt securities by contractual maturity at September 30, 2021. 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 $ 11,001 $ 11,047 Due after one year through five years 29,241 29,600 Due after five years through ten years 17,943 17,827 Due after ten years 16,883 16,970 Securities with contractual maturities 75,068 75,444 Asset-backed securities 31,051 30,980 Mortgage-backed securities 32,798 32,285 Commercial mortgage-backed securities 1,791 1,842 Collateralized mortgage obligations 6,123 6,159 Total debt securities $ 146,831 $ 146,710 At September 30, 2021 and December 31, 2020, the Insurance Company Subsidiaries had $8.6 million and $8.8 million, respectively, on deposit in trust accounts to meet the deposit requirements of various state insurance departments. At September 30, 2021 and December 31, 2020, the Company had $65.6 million and $67.6 million, respectively, 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	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. 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. The Level 2 financial instruments also include our line of credit and our Paycheck Protection Program loan. 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. Net Asset Value (NAV) —The fair values of investment company limited partnership investments are based on the capital account balances reported by the investment funds subject to their management review and adjustment. These capital account balances reflect the fair value of the investment funds. 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 September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 20,819 $ — $ 20,819 $ — State and local government 31,417 — 31,417 — Corporate debt 23,208 — 23,208 — Asset-backed securities 30,980 — 30,980 — Mortgage-backed securities 32,285 — 32,285 — Commercial mortgage-backed securities 1,842 — 1,842 — Collateralized mortgage obligations 6,159 — 6,159 — Total debt securities 146,710 — 146,710 — Equity Securities 19,144 18,861 283 — Short-term investments 10,142 10,142 — — Total marketable investments measured at fair value $ 175,996 $ 29,003 $ 146,993 $ — Investments measured at NAV: Investment in limited partnership 543 Total assets measured at fair value $ 176,539 Liabilities: Senior Unsecured Notes * $ 24,322 $ — $ 24,322 $ — Subordinated Notes * 11,652 — — 11,652 Line of credit * 1,000 — 1,000 — Total Liabilities measured at fair value $ 36,974 $ — $ 25,322 $ 11,652 * Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets December 31, 2020 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 30,967 $ — $ 30,967 $ — State and local government 33,265 — 33,265 — Corporate debt 19,303 — 19,303 — Asset-backed securities 20,963 — 20,963 — Mortgage-backed securities 38,854 — 38,854 — Commercial mortgage-backed securities 2,126 — 2,126 — Collateralized mortgage obligations 6,521 — 6,521 — Total debt securities 151,999 — 151,999 — Equity securities 17,336 17,053 283 — Short-term investments 13,317 13,317 — — Total marketable investments measured at fair value $ 182,652 $ 30,370 $ 152,282 $ — Investments measured at NAV: Investment in limited partnership 555 Total assets measured at fair value $ 183,207 Liabilities: Senior Unsecured Notes * $ 20,675 $ — $ 20,675 $ — Subordinated Notes * 11,616 — — 11,616 Line of Credit * 5,000 — 5,000 — Paycheck Protection Program loan * 2,745 — 2,745 — Total Liabilities measured at fair value $ 40,036 $ — $ 28,420 $ 11,616 * Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets 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 16.4% of the fair value of the total investment portfolio as of September 30, 2021. Level 2 investments include debt 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 fair value of securities included in the Level 2 category were based on the market values obtained from a third-party pricing service that 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 83.3% of the fair value of the total investment portfolio as of September 30, 2021. 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. 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 the Company's senior debt. The fair value of the borrowings under the senior revolving credit facility approximates its carrying amount because interest is based on a short-term, variable, market-based rate. As of September 30, 2021 and December 31, 2020, Level 3 is entirely comprised of the Company's subordinated debt. In determining the fair value of the subordinated debt outstanding at September 30, 2021 and December 31, 2020, the security attributes (issue date, maturity, coupon, calls, etc.) and market rates on September 24, 2018 (the date of the restated and amended agreement which was repriced at that time) were entered into a valuation model. A lognormal trinomial interest rate lattice was created within the model to compute the option adjusted spread (“OAS”) which is the amount, in basis points, of interest rate required to be paid under the debt agreement over the risk-free U.S . Treasury rates . The OAS was then fed back into the model along with the September 30, 2021 and December 31, 2020 U.S . Treasury rates . A new lattice was generated and the fair value was computed from the OAS . There were no changes in assumptions of credit risk from the issuance date.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	9 Months Ended
	Sep. 30, 2021
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	5. 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 nine months ended September 30, 2021 and 2020. The activity in deferred policy acquisition costs, net of reinsurance transactions, is as follows (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 13,121 $ 11,693 $ 12,243 $ 11,906 Deferred policy acquisition costs 7,663 7,067 22,187 19,552 Amortization of policy acquisition costs (7,173 ) (6,483 ) (20,819 ) (19,181 ) Net change 490 584 1,368 371 Balance at end of period $ 13,611 $ 12,277 $ 13,611 $ 12,277

Unpaid Losses and Loss Adjustme

Unpaid Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2021
Insurance Loss Reserves [Abstract]
Unpaid Losses and Loss Adjustment Expenses	6. 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 September 30, Nine months ended September 30, 2021 2020 2021 2020 Gross reserves - beginning of period $ 117,852 $ 106,734 $ 111,270 $ 107,246 Less: reinsurance recoverables on unpaid losses (22,824 ) (20,892 ) (24,218 ) (22,579 ) Net reserves - beginning of period 95,028 85,842 87,052 84,667 Add: incurred losses and LAE, net of reinsurance: Current period 12,513 9,858 37,813 29,286 Prior period 3,646 4,695 15,634 11,481 Total net incurred losses and LAE 16,159 14,553 53,447 40,767 Deduct: loss and LAE payments, net of reinsurance: Current period 5,802 5,149 14,102 9,067 Prior period 8,587 10,126 29,599 31,247 Total net loss and LAE payments 14,389 15,275 43,701 40,314 Net reserves - end of period 96,798 85,120 96,798 85,120 Plus: reinsurance recoverables on unpaid losses 23,056 18,564 23,056 18,564 Gross reserves - end of period $ 119,854 $ 103,684 $ 119,854 $ 103,684 Net losses and LAE was $16.2 million during the third quarter of 2021. Adverse development contributed $3.6 million to the total incurred losses in the third quarter of 2021, of which $1.1 million was related to 2017 and prior accident years, $1.4 million was related to the 2018 accident year, and $1.0 million was related to the 2019. In the third quarter, $3.4 million of the adverse development came from the commercial lines of business, mostly from liability lines, while $290,000 was related to the personal lines of business. Net losses and LAE were $53.4 million for the nine months ended September 30, 2021. The Company experienced $2.0 million of catastrophe losses, net of reinsurance recoverables, during the first quarter of 2021 from Winter Storm Uri. The Company also experienced $15.6 million of adverse development for the nine months ended September 30, 2021. Of the $15.6 million in adverse development, $5.0 million was related to 2017 and prior accident years, $4.8 million was related to the 2018 accident year, $3.4 million was related to the 2019 accident year, and $2.4 million was related to the 2020 accident year. Of the $15.6 million in adverse development, $14.7 million was related to commercial lines, mostly from liability lines, while $926,000 was related to personal lines. The Company’s incurred losses during the three and nine months ended September 30, 2020 included prior-year adverse reserve development of $4.7 million and $11.5 million, respectively. The adverse development mostly came from commercial liability lines within the hospitality businesses.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2021
Reinsurance Disclosures [Abstract]
Reinsurance	7. In the normal course of business, the Company participates in reinsurance agreements in order to limit losses that may arise from catastrophes or other individually severe events. The Company primarily ceded all specific commercial liability risks in excess of $400,000 in 2021 and 2020. The Company ceded specific commercial property risks in excess of $200,000 in 2021. The Company ceded 40% of specific commercial property risks in excess of $400,000, and 60% in excess of $300,000 in 2020. The Company ceded homeowners specific risks in excess of $300,000 in both 2021 and 2020. A "treaty" is a reinsurance agreement in which coverage is provided for a class of risks and does not require policy by policy underwriting of the reinsurer. "Facultative" reinsurance is where a reinsurer negotiates an individual reinsurance agreement for every policy it will reinsure on a policy by policy basis. A loss is covered under a reinsurance contract if the loss occurs within the effective dates of the agreement notwithstanding when the loss is reported. 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. 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 . The following table presents the effects of reinsurance and assumption transactions on written premiums, earned premiums and losses and LAE (dollars in thousands): Three Months Ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Written premiums: Direct $ 24,239 $ 21,434 $ 73,825 $ 60,659 Assumed 9,465 8,407 25,233 21,811 Ceded (7,635 ) (4,798 ) (19,974 ) (13,311 ) Net written premiums $ 26,069 $ 25,043 $ 79,084 $ 69,159 Earned premiums: Direct $ 23,858 $ 19,281 $ 67,455 $ 54,652 Assumed 7,912 7,591 22,790 24,232 Ceded (6,829 ) (4,645 ) (17,631 ) (12,882 ) Net earned premiums $ 24,941 $ 22,227 $ 72,614 $ 66,002 Losses and LAE: Direct $ 14,511 $ 11,249 $ 50,628 $ 34,314 Assumed 4,422 5,841 11,251 15,810 Ceded (2,774 ) (2,537 ) (8,432 ) (9,357 ) Net Losses and LAE $ 16,159 $ 14,553 $ 53,447 $ 40,767

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	8. The Company's debt is comprised of four instruments: $24.4 million of publicly traded senior unsecured notes which were issued in September and October of 2018, a $10.0 million line of credit which commenced in June 2018, $10.5 million of privately placed subordinated notes (the “Subordinated Notes”), and a $2.7 million Paycheck Protection Program loan (the “PPP loan”) issued as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. A summary of the Company's outstanding debt is as follows (dollars in thousands): September 30, 2021 December 31, 2020 Senior unsecured notes $ 23,861 $ 23,665 Subordinated notes 9,625 9,587 Line of credit 1,000 5,000 Paycheck Protection Program loan * — 2,745 Total $ 34,486 $ 40,997 * The PPP loan was embedded into the line of credit facility. See below. Senior unsecured notes The Company issued $25.3 million of public senior unsecured notes (the "Notes") in 2018. The Notes bear an interest rate of 6.75% per annum, payable quarterly at the end of March, June, September and December and mature on September 30, 2023. The Company may redeem the Notes, in whole or in part, at face value at any time after September 30, 2021. The Company did not repurchase any of the Notes for the three and nine months ended September 30, 2021. The Company did not repurchase any of the Notes for the three months ended September 30, 2020. For the nine months ended September 30, 2020, the Company repurchased 36,761 units of the Notes with a face value of $919,000 in the public market. The Notes were repurchased at a discount to face value, which resulted in a $260,000 gain on extinguishment. This gain was reflected in the Consolidated Statement of Operations as Other gains. Subordinated notes The Company also has outstanding $10.5 million of Subordinated Notes maturing on September 30, 2038. The Subordinated Notes bear an interest rate of 7.5% per annum until September 30, 2023, and 12.5% thereafter, and allow for four quarterly interest payment deferrals. Interest is payable quarterly at the end of March, June, September and December. Beginning September 30, 2021, the Company may redeem the Subordinated Notes, in whole or in part, for a call premium of $1.1 million. The call premium escalates each quarter to ultimately $1.75 million on September 30, 2023, then steps up to $3.05 million on December 31, 2023, and increases quarterly at a 12.5% per annum rate thereafter. As of September 30, 2021, the carrying value of the Notes and Subordinated Notes are offset by $520,000 and $875,000 of debt issuance costs, respectively. The debt issuance costs will be amortized through interest expense over the life of the loans. The Subordinated Notes contain various restrictive financial debt covenants that relate to the Company’s minimum tangible net worth, minimum fixed-charge coverage ratios, dividend paying capacity, reinsurance retentions, and risk-based capital ratios. At September 30, 2021, the Company was in compliance with all of its financial covenants. Line of credit The Company maintains a $10.0 million line of credit with a national bank (the “Lender”). The line of credit bears interest at the London Interbank rate ("LIBOR") plus 2.75% per annum, payable monthly. The agreement includes several financial debt covenants, including a minimum tangible net worth, a minimum fixed-charge coverage ratio, and minimum statutory risk-based capital levels. As of September 30, 2021, the Company had $1.0 million outstanding on the line of credit, and was in compliance with all of its financial debt covenants. On June 18, 2021, the line of credit was renewed with a maturity of December 1, 2022. Paycheck Protection Program loan On April 24, 2020, the Company received a $2.7 million loan from the line of credit Lender pursuant to the Paycheck Protection Program of the CARES Act administered by the U.S. Small Business Administration (“SBA”). The Company received notice from the SBA that the loan was 100% forgiven, including accrued interest, on July 8, 2021. This resulted in a $2.8 million gain that is included in Other Gains on the Consolidated Statement of Operations in the third quarter of 2021.

Shareholder's Equity

Shareholder's Equity	9 Months Ended
	Sep. 30, 2021
Stockholders Equity Note [Abstract]
Shareholder's Equity	9. Shareholder’s Equity On December 5, 2018, the Company's Board of Directors authorized a stock repurchase program, under which the Company may repurchase up to one million shares of the Company's common stock. The Company did not repurchase any shares of stock for the three and nine months ended September 30, 2021 related to the stock repurchase program. The Company did not purchase any shares of stock for the three months ended September 30, 2020. For the nine months ended September 30, 2020, the Company repurchased 2,398 shares of stock valued at $8,000, related to the stock repurchase program. For the three months ended September 30, 2021 and 2020, the Company repurchased 1,240 and 6,505 shares of stock valued at approximately $4,000 and $19,000, respectively, related to the vesting of the Company’s restricted stock units. For the nine months ended September 30, 2021 and 2020, the Company repurchased 3,547 and 8,813 shares of stock valued at approximately $11,000 and $27,000, respectively. Upon the repurchase of the Company’s shares, the shares remain authorized, but not issued or outstanding. As of September 30, 2021 and December 31, 2020, the Company had 9,706,156 and 9,681,728 issued and outstanding shares of common stock, respectively. Holders of common stock are entitled to one vote per share and to receive dividends only when and if declared by the board of directors. The holders have no preemptive, conversion or subscription rights.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	10. 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 September 30, Nine months ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ (659 ) $ 3,805 $ 912 $ 489 Other comprehensive income (loss) before reclassifications, net of tax (570 ) (1,085 ) (2,100 ) 2,617 Less: amounts reclassified from accumulated other comprehensive income (loss), net of tax 44 292 85 678 Net other comprehensive income (loss) (614 ) (1,377 ) (2,185 ) 1,939 Balance at end of period $ (1,273 ) $ 2,428 $ (1,273 ) $ 2,428

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings 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 and share amounts): Three Months Ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Net income (loss) $ (1,209 ) $ 541 $ (293 ) $ (2,679 ) Weighted average common shares, basic and diluted * 9,692,150 9,630,600 9,686,874 9,606,436 Earnings (loss) per common share, basic and diluted $ (0.12 ) $ 0.06 $ (0.03 ) $ (0.28 ) * The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2021 and 2020. Therefore, the basic and diluted weighted average common shares are equal for the three and nine months ended September 30, 2021 and 2020.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based Compensation	12. Stock-based Compensation On June 30, 2020, the Company issued options to purchase 280,000 shares of the Company’s common stock, to certain executive officers and other employees. The right to exercise the options will vest over a five-year In 2015, 2016, and 2018, the Company issued 390,352, 111,281, and 70,000, respectively, of restricted stock units (“RSUs”) to various employees to be settled in shares of common stock, which were valued at $4.1 million, $909,000, and $404,000, respectively, on the dates of grant. The Company recorded $145,000 and $622,000 of compensation expense related to the RSUs for the nine months ended September 30, 2021 and 2020, respectively. There were 20,000 unvested RSUs as of September 30, 2021, which will generate an estimated future expense of $87,000. The Company recorded $39,000 and $14,000 of compensation expense related to the stock options for the nine months ended September 30, 2021 and 2020, respectively. There were 199,000 unvested options as of September 30, 2021, which will generate an estimated future expense of $198,000.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. 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 covered by the insurance policy at issue. We account for such activity through the establishment of unpaid losses and LAE reserves. In accordance with accounting guidance, if it is probable that a liability has been incurred as of the date of the financial statements and the amount of loss is reasonably estimable; then an accrual for the costs to resolve these claims is recorded by the Company in the accompanying consolidated financial statements. Periodic expenses related to the defense of such claims are included in the accompanying consolidated statements of operations. 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 to, either individually or in the aggregate.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	14. The Company is engaged in the sale of property and casualty insurance products and has organized its business model around three classes of insurance businesses: commercial lines, personal lines, and wholesale agency business. Within these three businesses, the Company offers various insurance products and insurance agency services. Such insurance businesses are engaged in underwriting and marketing insurance coverages, and administering claims processing for such policies. The Company views the commercial and personal lines segments as underwriting business (business that takes on insurance underwriting risk). The wholesale agency business provides non-risk bearing revenue through commissions and policy fees. The wholesale agency business increases the product options to the Company’s independent retail agents by offering both insurance products from the Insurance Company Subsidiaries as well as products offered by other insurers. 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, and other revenue and expenses. The primary measure used for making decisions about resources to be allocated to an operating segment and assessing its 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 operating expenses of the operating segments. Operating expenses primarily include compensation and related benefits for personnel, policy issuance and claims systems, rent and utilities. The Company markets, distributes and sells its insurance products through its own insurance agencies and a network of independent agents. All of the Company’s insurance activities are conducted in the United States with a concentration of activity in Michigan, Florida, Texas and California. For the nine months ended September 30, 2021 and 2020, gross written premiums attributable to these four states were 51.4% and 49.9%, respectively, of the Company’s total gross written premiums. The Wholesale Agency business sells insurance products on behalf of the Company’s commercial and personal lines businesses as well as to third-party insurers. Certain acquisition costs incurred by the commercial and personal lines businesses are reflected as commission revenue for the Wholesale Agency business and are eliminated in the Eliminations category. In addition to the reportable operating segments, the Company maintains a Corporate category to reconcile segment results to the consolidated totals. The Corporate 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 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, net realized investment gains, and change in fair value of equity securities on the consolidated statements of operations. The Company’s assets on the consolidated balance sheet are not allocated to the reportable segments. The following tables present information by reportable operating segment (dollars in thousands): Three months ended September 30, 2021 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 29,849 $ 3,855 $ 33,704 $ — $ — $ — $ 33,704 Net written premiums $ 22,456 $ 3,613 $ 26,069 $ — $ — $ — $ 26,069 Net earned premiums $ 21,975 $ 2,966 $ 24,941 $ — $ — $ — $ 24,941 Other income 50 29 80 1,235 148 (710 ) 752 Segment revenue 22,025 2,995 25,020 1,235 148 (710 ) 25,693 Losses and LAE, net 14,697 1,462 16,159 — — — 16,159 Policy acquisition costs 6,458 838 7,296 778 — (901 ) 7,173 Operating expenses 2,954 336 3,290 500 287 — 4,077 Segment expenses 24,109 2,636 26,745 1,278 287 (901 ) 27,409 Segment gain (loss) $ (2,084 ) $ 359 $ (1,725 ) $ (43 ) $ (139 ) $ 191 $ (1,716 ) Investment income 514 514 Net realized investment gains (losses) (101 ) (101 ) Change in fair value of equity securities (2,169 ) (2,169 ) Other gains 2,778 2,778 Interest expense (701 ) (701 ) Income (loss) before equity earnings in Affiliate and income taxes $ (2,084 ) $ 359 $ (1,725 ) $ (43 ) $ 182 $ 191 $ (1,395 ) Three months ended September 30, 2020 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 27,297 $ 2,544 $ 29,841 $ — $ — $ — $ 29,841 Net written premiums $ 22,763 $ 2,280 $ 25,043 $ — $ — $ — $ 25,043 Net earned premiums $ 20,586 $ 1,641 $ 22,227 $ — $ — $ — $ 22,227 Other income 44 42 86 2,036 43 (1,523 ) 642 Segment revenue 20,630 1,683 22,313 2,036 43 (1,523 ) 22,869 Losses and LAE, net 14,195 358 14,553 — — — 14,553 Policy acquisition costs 6,180 537 6,717 1,328 — (1,562 ) 6,483 Operating expenses 3,187 251 3,438 779 320 — 4,537 Segment expenses 23,562 1,146 24,708 2,107 320 (1,562 ) 25,573 Segment gain (loss) $ (2,932 ) $ 537 $ (2,395 ) $ (71 ) $ (277 ) $ 39 $ (2,704 ) Investment income 776 776 Net realized investment gains 3,316 3,316 Change in fair value of equity securities (356 ) (356 ) Other gains — — Interest expense (723 ) (723 ) Income (loss) before equity earnings in Affiliate and income taxes $ (2,932 ) $ 537 $ (2,395 ) $ (71 ) $ 2,736 $ 39 $ 309 Nine months ended September 30, 2021 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 88,017 $ 11,041 $ 99,058 $ — $ — $ — $ 99,058 Net written premiums $ 68,685 $ 10,399 $ 79,084 $ — $ — $ — $ 79,084 Net earned premiums $ 64,869 $ 7,745 $ 72,614 $ — $ — $ — $ 72,614 Other income 158 113 271 4,932 219 (3,448 ) 1,974 Segment revenue 65,027 7,858 72,885 4,932 219 (3,448 ) 74,588 Losses and LAE, net 48,592 4,855 53,447 — — — 53,447 Policy acquisition costs 19,102 2,178 21,280 3,147 — (3,608 ) 20,819 Operating expenses 8,761 1,076 9,837 2,060 871 — 12,768 Segment expenses 76,455 8,109 84,564 5,207 871 (3,608 ) 87,034 Segment gain (loss) $ (11,428 ) $ (251 ) $ (11,679 ) $ (275 ) $ (652 ) $ 160 $ (12,446 ) Investment income 1,549 1,549 Net realized investment gains 3,883 3,883 Change in fair value of equity securities (3,234 ) (3,234 ) Other gains 11,688 11,688 Interest expense (2,154 ) (2,154 ) Income (loss) before equity earnings in Affiliate and income taxes $ (11,428 ) $ (251 ) $ (11,679 ) $ (275 ) $ 11,080 $ 160 $ (714 ) Nine months ended September 30, 2020 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 76,341 $ 6,129 $ 82,470 $ — $ — $ — $ 82,470 Net written premiums $ 63,827 $ 5,332 $ 69,159 $ — $ — $ — $ 69,159 Net earned premiums $ 61,122 $ 4,880 $ 66,002 $ — $ — $ — $ 66,002 Other income 200 114 314 6,051 206 (4,558 ) 2,013 Segment revenue 61,322 4,994 66,316 6,051 206 (4,558 ) 68,015 Losses and LAE, net 38,931 1,836 40,767 — — — 40,767 Policy acquisition costs 18,463 1,532 19,995 3,984 — (4,798 ) 19,181 Operating expenses 9,835 798 10,633 2,420 1,388 — 14,441 Segment expenses 67,229 4,166 71,395 6,404 1,388 (4,798 ) 74,389 Segment gain (loss) $ (5,907 ) $ 828 $ (5,079 ) $ (353 ) $ (1,182 ) $ 240 $ (6,374 ) Investment income 2,593 2,593 Net realized investment gains 4,489 4,489 Change in fair value of equity securities (1,866 ) (1,866 ) Other gains 260 260 Interest expense (2,185 ) (2,185 ) Income (loss) before equity earnings in Affiliate and income taxes $ (5,907 ) $ 828 $ (5,079 ) $ (353 ) $ 2,109 $ 240 $ (3,083 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Management Representation	Basis of Presentation and Management Representation 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. ("Sycamore"). 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." Sycamore owns a 50% non-controlling interest in Venture Holdings, Inc. (“Venture” or “Affiliate”). The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which differ from statutory accounting practices prescribed or permitted for insurance companies by regulatory authorities. The Company has applied the 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. 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, 2020, as filed with the SEC. The results of operations for the nine months ended September 30, 2021, are not necessarily indicative of the results expected for the year ended December 31, 2021. In addition, there are risks and uncertainties associated with the novel coronavirus (" COVID -19") and the impact it may have on our business, results of operations and financial condition. The COVID -19 pandemic has negatively impacted the U.S. and global economies, created significant volatility and disruption in the capital markets, dramatically increased unemployment levels and has fueled concerns that it has led to a global recession. Depending on the duration and severity of the pandemic, we foresee the potential for adverse impacts related to, among other things: (i) sales results; (ii) insurance product margin; (iii) net investment income; (iv) invested assets; (v) regulatory capital; (vi) liabilities for insurance products; (vii) access to capital markets; and (viii) the present value of future profits. The full extent to which COVID -19 will impact our business, results of operations and financial condition remains uncertain.
Business	Business The Company is engaged in the sale of property and casualty insurance products and has organized its principal operations into three types of insurance businesses: commercial lines, personal lines, and agency business. 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, including managing general agents, whereby policies are written in all 50 states in the United States of America (“U.S.”). The Company’s corporate headquarters are located in Birmingham, Michigan with additional office facilities in Florida and Michigan.
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.
Cash, Cash Equivalents, and Short-term Investments	Cash, Cash Equivalents, and Short-term Investments Cash consists of cash deposits in banks, generally in operating accounts. Cash equivalents consist of money-market funds that are specifically used as overnight investments tied to cash deposit accounts. Short-term investments, consisting of money-market funds, are classified as investments in the consolidated balance sheets as they relate to the Company’s investment activities.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Schedule of Available-for-sale Securities	The cost or amortized cost, gross unrealized gains or losses, and estimated fair value of the investments in securities classified as available for sale at September 30, 2021 and December 31, 2020, were as follows (dollars in thousands): September 30, 2021 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 20,721 $ 124 $ (26 ) $ 20,819 State and local government 30,927 651 (161 ) 31,417 Corporate debt 23,420 97 (309 ) 23,208 Asset-backed securities 31,051 20 (91 ) 30,980 Mortgage-backed securities 32,798 137 (650 ) 32,285 Commercial mortgage-backed securities 1,791 51 — 1,842 Collateralized mortgage obligations 6,123 62 (26 ) 6,159 Total debt securities available for sale $ 146,831 $ 1,142 $ (1,263 ) $ 146,710 December 31, 2020 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 30,743 $ 225 $ (1 ) $ 30,967 State and local government 32,253 1,040 (28 ) 33,265 Corporate debt 19,015 311 (23 ) 19,303 Asset-backed securities 20,987 49 (73 ) 20,963 Mortgage-backed securities 38,512 345 (3 ) 38,854 Commercial mortgage-backed securities 2,083 65 (22 ) 2,126 Collateralized mortgage obligations 6,361 161 (1 ) 6,521 Total debt securities available for sale $ 149,954 $ 2,196 $ (151 ) $ 151,999
Schedule Of Unrealized Loss On Investments	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 (dollars in thousands): September 30, 2021 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses Debt Securities: U.S. Government 5 $ 7,659 $ (26 ) — $ — $ — 5 $ 7,659 $ (26 ) State and local government 44 8,447 (147 ) 3 349 (14 ) 47 8,796 (161 ) Corporate debt 27 15,978 (266 ) 1 707 (43 ) 28 16,685 (309 ) Asset-backed securities 12 14,644 (88 ) 3 2,249 (3 ) 15 16,893 (91 ) Mortgage-backed securities 9 27,195 (650 ) — — — 9 27,195 (650 ) Commercial mortgage-backed securities — — — — — — — — — Collateralized mortgage obligations 6 2,145 (25 ) 2 47 (1 ) 8 2,192 (26 ) Total debt securities available for sale 103 $ 76,068 $ (1,202 ) 9 $ 3,352 $ (61 ) 112 $ 79,420 $ (1,263 ) December 31, 2020 Less than 12 months Greater than 12 months Total No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses No. of Issues Fair Value of Investments with Unrealized Losses Gross Unrealized Losses Debt Securities: U.S. Government 2 $ 6,764 $ (1 ) — $ — $ — 2 $ 6,764 $ (1 ) State and local government 16 3,905 (28 ) — — — 16 3,905 (28 ) Corporate debt 2 1,051 (23 ) — — — 2 1,051 (23 ) Asset-backed securities 7 6,050 (34 ) 11 6,551 (39 ) 18 12,601 (73 ) Mortgage-backed securities 2 1,652 (3 ) — — — 2 1,652 (3 ) Commercial mortgage-backed securities 1 899 (22 ) — — — 1 899 (22 ) Collateralized mortgage obligations 2 195 (1 ) — — — 2 195 (1 ) Total debt securities available for sale 32 $ 20,516 $ (112 ) 11 $ 6,551 $ (39 ) 43 $ 27,067 $ (151 )
Schedule of Investment Income and Losses	The Company’s sources of net investment income and losses are as follows (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Debt securities $ 562 $ 794 $ 1,716 $ 2,590 Equity securities 63 60 166 168 Cash, cash equivalents and short-term investments 1 — 2 143 Total investment income 626 854 1,884 2,901 Investment expenses (112 ) (78 ) (335 ) (308 ) Net investment income $ 514 $ 776 $ 1,549 $ 2,593
Schedule of Gross Realized Gains and Losses on Securities	The following table summarizes the gross realized gains and losses from sales, calls and maturities of available-for-sale debt and equity securities (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Debt securities: Gross realized gains $ 2 $ 2,037 $ 29 $ 2,757 Gross realized losses — (2 ) (6 ) (6 ) Total debt securities 2 2,035 23 2,751 Equity securities: Gross realized gains 55 1,905 4,063 2,853 Gross realized losses (158 ) (624 ) (203 ) (1,115 ) Total equity securities (103 ) 1,281 3,860 1,738 Total net realized investment gains (losses) $ (101 ) $ 3,316 $ 3,883 $ 4,489
Summary of Amortized Cost and Fair Value of Securities	The table below summarizes the amortized cost and fair value of available-for-sale debt securities by contractual maturity at September 30, 2021. 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 $ 11,001 $ 11,047 Due after one year through five years 29,241 29,600 Due after five years through ten years 17,943 17,827 Due after ten years 16,883 16,970 Securities with contractual maturities 75,068 75,444 Asset-backed securities 31,051 30,980 Mortgage-backed securities 32,798 32,285 Commercial mortgage-backed securities 1,791 1,842 Collateralized mortgage obligations 6,123 6,159 Total debt securities $ 146,831 $ 146,710

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 and December 31, 2020 (dollars in thousands): September 30, 2021 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 20,819 $ — $ 20,819 $ — State and local government 31,417 — 31,417 — Corporate debt 23,208 — 23,208 — Asset-backed securities 30,980 — 30,980 — Mortgage-backed securities 32,285 — 32,285 — Commercial mortgage-backed securities 1,842 — 1,842 — Collateralized mortgage obligations 6,159 — 6,159 — Total debt securities 146,710 — 146,710 — Equity Securities 19,144 18,861 283 — Short-term investments 10,142 10,142 — — Total marketable investments measured at fair value $ 175,996 $ 29,003 $ 146,993 $ — Investments measured at NAV: Investment in limited partnership 543 Total assets measured at fair value $ 176,539 Liabilities: Senior Unsecured Notes * $ 24,322 $ — $ 24,322 $ — Subordinated Notes * 11,652 — — 11,652 Line of credit * 1,000 — 1,000 — Total Liabilities measured at fair value $ 36,974 $ — $ 25,322 $ 11,652 * Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets December 31, 2020 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 30,967 $ — $ 30,967 $ — State and local government 33,265 — 33,265 — Corporate debt 19,303 — 19,303 — Asset-backed securities 20,963 — 20,963 — Mortgage-backed securities 38,854 — 38,854 — Commercial mortgage-backed securities 2,126 — 2,126 — Collateralized mortgage obligations 6,521 — 6,521 — Total debt securities 151,999 — 151,999 — Equity securities 17,336 17,053 283 — Short-term investments 13,317 13,317 — — Total marketable investments measured at fair value $ 182,652 $ 30,370 $ 152,282 $ — Investments measured at NAV: Investment in limited partnership 555 Total assets measured at fair value $ 183,207 Liabilities: Senior Unsecured Notes * $ 20,675 $ — $ 20,675 $ — Subordinated Notes * 11,616 — — 11,616 Line of Credit * 5,000 — 5,000 — Paycheck Protection Program loan * 2,745 — 2,745 — Total Liabilities measured at fair value $ 40,036 $ — $ 28,420 $ 11,616 * Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 13,121 $ 11,693 $ 12,243 $ 11,906 Deferred policy acquisition costs 7,663 7,067 22,187 19,552 Amortization of policy acquisition costs (7,173 ) (6,483 ) (20,819 ) (19,181 ) Net change 490 584 1,368 371 Balance at end of period $ 13,611 $ 12,277 $ 13,611 $ 12,277

Unpaid Losses and Loss Adjust_2

Unpaid Losses and Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine months ended September 30, 2021 2020 2021 2020 Gross reserves - beginning of period $ 117,852 $ 106,734 $ 111,270 $ 107,246 Less: reinsurance recoverables on unpaid losses (22,824 ) (20,892 ) (24,218 ) (22,579 ) Net reserves - beginning of period 95,028 85,842 87,052 84,667 Add: incurred losses and LAE, net of reinsurance: Current period 12,513 9,858 37,813 29,286 Prior period 3,646 4,695 15,634 11,481 Total net incurred losses and LAE 16,159 14,553 53,447 40,767 Deduct: loss and LAE payments, net of reinsurance: Current period 5,802 5,149 14,102 9,067 Prior period 8,587 10,126 29,599 31,247 Total net loss and LAE payments 14,389 15,275 43,701 40,314 Net reserves - end of period 96,798 85,120 96,798 85,120 Plus: reinsurance recoverables on unpaid losses 23,056 18,564 23,056 18,564 Gross reserves - end of period $ 119,854 $ 103,684 $ 119,854 $ 103,684

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2021
Reinsurance Disclosures [Abstract]
Summary of the Effects of Reinsurance	The following table presents the effects of reinsurance and assumption transactions on written premiums, earned premiums and losses and LAE (dollars in thousands): Three Months Ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Written premiums: Direct $ 24,239 $ 21,434 $ 73,825 $ 60,659 Assumed 9,465 8,407 25,233 21,811 Ceded (7,635 ) (4,798 ) (19,974 ) (13,311 ) Net written premiums $ 26,069 $ 25,043 $ 79,084 $ 69,159 Earned premiums: Direct $ 23,858 $ 19,281 $ 67,455 $ 54,652 Assumed 7,912 7,591 22,790 24,232 Ceded (6,829 ) (4,645 ) (17,631 ) (12,882 ) Net earned premiums $ 24,941 $ 22,227 $ 72,614 $ 66,002 Losses and LAE: Direct $ 14,511 $ 11,249 $ 50,628 $ 34,314 Assumed 4,422 5,841 11,251 15,810 Ceded (2,774 ) (2,537 ) (8,432 ) (9,357 ) Net Losses and LAE $ 16,159 $ 14,553 $ 53,447 $ 40,767

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Outstanding Senior Debt	A summary of the Company's outstanding debt is as follows (dollars in thousands): September 30, 2021 December 31, 2020 Senior unsecured notes $ 23,861 $ 23,665 Subordinated notes 9,625 9,587 Line of credit 1,000 5,000 Paycheck Protection Program loan * — 2,745 Total $ 34,486 $ 40,997 * The PPP loan was embedded into the line of credit facility. See below.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine months ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ (659 ) $ 3,805 $ 912 $ 489 Other comprehensive income (loss) before reclassifications, net of tax (570 ) (1,085 ) (2,100 ) 2,617 Less: amounts reclassified from accumulated other comprehensive income (loss), net of tax 44 292 85 678 Net other comprehensive income (loss) (614 ) (1,377 ) (2,185 ) 1,939 Balance at end of period $ (1,273 ) $ 2,428 $ (1,273 ) $ 2,428

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
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 and share amounts): Three Months Ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Net income (loss) $ (1,209 ) $ 541 $ (293 ) $ (2,679 ) Weighted average common shares, basic and diluted * 9,692,150 9,630,600 9,686,874 9,606,436 Earnings (loss) per common share, basic and diluted $ (0.12 ) $ 0.06 $ (0.03 ) $ (0.28 ) * The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2021 and 2020. Therefore, the basic and diluted weighted average common shares are equal for the three and nine months ended September 30, 2021 and 2020.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Information by Reportable Segment	The following tables present information by reportable operating segment (dollars in thousands): Three months ended September 30, 2021 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 29,849 $ 3,855 $ 33,704 $ — $ — $ — $ 33,704 Net written premiums $ 22,456 $ 3,613 $ 26,069 $ — $ — $ — $ 26,069 Net earned premiums $ 21,975 $ 2,966 $ 24,941 $ — $ — $ — $ 24,941 Other income 50 29 80 1,235 148 (710 ) 752 Segment revenue 22,025 2,995 25,020 1,235 148 (710 ) 25,693 Losses and LAE, net 14,697 1,462 16,159 — — — 16,159 Policy acquisition costs 6,458 838 7,296 778 — (901 ) 7,173 Operating expenses 2,954 336 3,290 500 287 — 4,077 Segment expenses 24,109 2,636 26,745 1,278 287 (901 ) 27,409 Segment gain (loss) $ (2,084 ) $ 359 $ (1,725 ) $ (43 ) $ (139 ) $ 191 $ (1,716 ) Investment income 514 514 Net realized investment gains (losses) (101 ) (101 ) Change in fair value of equity securities (2,169 ) (2,169 ) Other gains 2,778 2,778 Interest expense (701 ) (701 ) Income (loss) before equity earnings in Affiliate and income taxes $ (2,084 ) $ 359 $ (1,725 ) $ (43 ) $ 182 $ 191 $ (1,395 ) Three months ended September 30, 2020 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 27,297 $ 2,544 $ 29,841 $ — $ — $ — $ 29,841 Net written premiums $ 22,763 $ 2,280 $ 25,043 $ — $ — $ — $ 25,043 Net earned premiums $ 20,586 $ 1,641 $ 22,227 $ — $ — $ — $ 22,227 Other income 44 42 86 2,036 43 (1,523 ) 642 Segment revenue 20,630 1,683 22,313 2,036 43 (1,523 ) 22,869 Losses and LAE, net 14,195 358 14,553 — — — 14,553 Policy acquisition costs 6,180 537 6,717 1,328 — (1,562 ) 6,483 Operating expenses 3,187 251 3,438 779 320 — 4,537 Segment expenses 23,562 1,146 24,708 2,107 320 (1,562 ) 25,573 Segment gain (loss) $ (2,932 ) $ 537 $ (2,395 ) $ (71 ) $ (277 ) $ 39 $ (2,704 ) Investment income 776 776 Net realized investment gains 3,316 3,316 Change in fair value of equity securities (356 ) (356 ) Other gains — — Interest expense (723 ) (723 ) Income (loss) before equity earnings in Affiliate and income taxes $ (2,932 ) $ 537 $ (2,395 ) $ (71 ) $ 2,736 $ 39 $ 309 Nine months ended September 30, 2021 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 88,017 $ 11,041 $ 99,058 $ — $ — $ — $ 99,058 Net written premiums $ 68,685 $ 10,399 $ 79,084 $ — $ — $ — $ 79,084 Net earned premiums $ 64,869 $ 7,745 $ 72,614 $ — $ — $ — $ 72,614 Other income 158 113 271 4,932 219 (3,448 ) 1,974 Segment revenue 65,027 7,858 72,885 4,932 219 (3,448 ) 74,588 Losses and LAE, net 48,592 4,855 53,447 — — — 53,447 Policy acquisition costs 19,102 2,178 21,280 3,147 — (3,608 ) 20,819 Operating expenses 8,761 1,076 9,837 2,060 871 — 12,768 Segment expenses 76,455 8,109 84,564 5,207 871 (3,608 ) 87,034 Segment gain (loss) $ (11,428 ) $ (251 ) $ (11,679 ) $ (275 ) $ (652 ) $ 160 $ (12,446 ) Investment income 1,549 1,549 Net realized investment gains 3,883 3,883 Change in fair value of equity securities (3,234 ) (3,234 ) Other gains 11,688 11,688 Interest expense (2,154 ) (2,154 ) Income (loss) before equity earnings in Affiliate and income taxes $ (11,428 ) $ (251 ) $ (11,679 ) $ (275 ) $ 11,080 $ 160 $ (714 ) Nine months ended September 30, 2020 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 76,341 $ 6,129 $ 82,470 $ — $ — $ — $ 82,470 Net written premiums $ 63,827 $ 5,332 $ 69,159 $ — $ — $ — $ 69,159 Net earned premiums $ 61,122 $ 4,880 $ 66,002 $ — $ — $ — $ 66,002 Other income 200 114 314 6,051 206 (4,558 ) 2,013 Segment revenue 61,322 4,994 66,316 6,051 206 (4,558 ) 68,015 Losses and LAE, net 38,931 1,836 40,767 — — — 40,767 Policy acquisition costs 18,463 1,532 19,995 3,984 — (4,798 ) 19,181 Operating expenses 9,835 798 10,633 2,420 1,388 — 14,441 Segment expenses 67,229 4,166 71,395 6,404 1,388 (4,798 ) 74,389 Segment gain (loss) $ (5,907 ) $ 828 $ (5,079 ) $ (353 ) $ (1,182 ) $ 240 $ (6,374 ) Investment income 2,593 2,593 Net realized investment gains 4,489 4,489 Change in fair value of equity securities (1,866 ) (1,866 ) Other gains 260 260 Interest expense (2,185 ) (2,185 ) Income (loss) before equity earnings in Affiliate and income taxes $ (5,907 ) $ 828 $ (5,079 ) $ (353 ) $ 2,109 $ 240 $ (3,083 )

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	9 Months Ended
	Sep. 30, 2021class_businessstate
Accounting Policies [Abstract]
Non Controlling Interest	50.00%
Number of types of business | class_business	3
Number of states in which entity operates | state	50

Sale of Certain Agency Busine_2

Sale of Certain Agency Business - Narrative (Details)	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)Interger	Jun. 30, 2021USD ($)	Sep. 30, 2021USD ($)Interger	Sep. 30, 2020USD ($)
Other gains	$ 2,778,000		$ 11,688,000	$ 260,000
Venture Holdings, Inc
Other gains		$ 8,900,000
Purchase price		10,000,000
Paid in cash		$ 1,000,000
Number of promissory notes | Interger	2		2
Payment annum rate			7.00%
Payment maturity period			5 years
Venture Holdings, Inc | Prepayment Penalty
Repayments of Debt			$ 0
Venture Holdings, Inc | Promissory Notes One
Remaining balance paid by promissory note			6,000,000
Venture Holdings, Inc | Promissory Notes Two
Remaining balance paid by promissory note			3,000,000
Venture Holdings, Inc | Promissory Notes
Remaining balance paid by promissory note			$ 9,000,000

Investments - Available-for-sal

Investments - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	$ 146,831	$ 149,954
Debt securities, Gross Unrealized Gain	1,142	2,196
Debt securities, Gross Unrealized Losses	(1,263)	(151)
Debt securities, Estimated Fair Value	146,710	151,999
U.S. Government
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	20,721	30,743
Debt securities, Gross Unrealized Gain	124	225
Debt securities, Gross Unrealized Losses	(26)	(1)
Debt securities, Estimated Fair Value	20,819	30,967
State and local government
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	30,927	32,253
Debt securities, Gross Unrealized Gain	651	1,040
Debt securities, Gross Unrealized Losses	(161)	(28)
Debt securities, Estimated Fair Value	31,417	33,265
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	23,420	19,015
Debt securities, Gross Unrealized Gain	97	311
Debt securities, Gross Unrealized Losses	(309)	(23)
Debt securities, Estimated Fair Value	23,208	19,303
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	31,051	20,987
Debt securities, Gross Unrealized Gain	20	49
Debt securities, Gross Unrealized Losses	(91)	(73)
Debt securities, Estimated Fair Value	30,980	20,963
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	32,798	38,512
Debt securities, Gross Unrealized Gain	137	345
Debt securities, Gross Unrealized Losses	(650)	(3)
Debt securities, Estimated Fair Value	32,285	38,854
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	1,791	2,083
Debt securities, Gross Unrealized Gain	51	65
Debt securities, Gross Unrealized Losses	0	(22)
Debt securities, Estimated Fair Value	1,842	2,126
Collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	6,123	6,361
Debt securities, Gross Unrealized Gain	62	161
Debt securities, Gross Unrealized Losses	(26)	(1)
Debt securities, Estimated Fair Value	$ 6,159	$ 6,521

Investments - Available-for-s_2

Investments - Available-for-sale Securities in Unrealized Loss Positions (Details) $ in Thousands	Sep. 30, 2021USD ($)security	Dec. 31, 2020USD ($)security
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	103	32
Debt securities, greater than 12 months, number of issues | security	9	11
Debt securities, number of issues | security	112	43
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 76,068	$ 20,516
Debt securities, greater than 12 months, fair value	3,352	6,551
Debt securities, fair value	79,420	27,067
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(1,202)	(112)
Debt securities, greater than 12 months, unrealized losses	(61)	(39)
Debt securities, total unrealized losses	$ (1,263)	$ (151)
U.S. Government
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	5	2
Debt securities, greater than 12 months, number of issues | security	0	0
Debt securities, number of issues | security	5	2
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 7,659	$ 6,764
Debt securities, greater than 12 months, fair value	0	0
Debt securities, fair value	7,659	6,764
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(26)	(1)
Debt securities, greater than 12 months, unrealized losses	0	0
Debt securities, total unrealized losses	$ (26)	$ (1)
State and local government
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	44	16
Debt securities, greater than 12 months, number of issues | security	3	0
Debt securities, number of issues | security	47	16
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 8,447	$ 3,905
Debt securities, greater than 12 months, fair value	349	0
Debt securities, fair value	8,796	3,905
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(147)	(28)
Debt securities, greater than 12 months, unrealized losses	(14)	0
Debt securities, total unrealized losses	$ (161)	$ (28)
Corporate debt
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	27	2
Debt securities, greater than 12 months, number of issues | security	1	0
Debt securities, number of issues | security	28	2
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 15,978	$ 1,051
Debt securities, greater than 12 months, fair value	707	0
Debt securities, fair value	16,685	1,051
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(266)	(23)
Debt securities, greater than 12 months, unrealized losses	(43)	0
Debt securities, total unrealized losses	$ (309)	$ (23)
Asset-backed securities
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	12	7
Debt securities, greater than 12 months, number of issues | security	3	11
Debt securities, number of issues | security	15	18
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 14,644	$ 6,050
Debt securities, greater than 12 months, fair value	2,249	6,551
Debt securities, fair value	16,893	12,601
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(88)	(34)
Debt securities, greater than 12 months, unrealized losses	(3)	(39)
Debt securities, total unrealized losses	$ (91)	$ (73)
Mortgage-backed securities
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	9	2
Debt securities, greater than 12 months, number of issues | security	0	0
Debt securities, number of issues | security	9	2
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 27,195	$ 1,652
Debt securities, greater than 12 months, fair value	0	0
Debt securities, fair value	27,195	1,652
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(650)	(3)
Debt securities, greater than 12 months, unrealized losses	0	0
Debt securities, total unrealized losses	$ (650)	$ (3)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	0	1
Debt securities, greater than 12 months, number of issues | security	0	0
Debt securities, number of issues | security	0	1
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 0	$ 899
Debt securities, greater than 12 months, fair value	0	0
Debt securities, fair value	0	899
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	0	(22)
Debt securities, greater than 12 months, unrealized losses	0	0
Debt securities, total unrealized losses	$ 0	$ (22)
Collateralized mortgage obligations
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	6	2
Debt securities, greater than 12 months, number of issues | security	2	0
Debt securities, number of issues | security	8	2
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 2,145	$ 195
Debt securities, greater than 12 months, fair value	47	0
Debt securities, fair value	2,192	195
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(25)	(1)
Debt securities, greater than 12 months, unrealized losses	(1)	0
Debt securities, total unrealized losses	$ (26)	$ (1)

Investments - Net Investment In

Investments - Net Investment Income and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net Investment Income [Line Items]
Investment income	$ 626	$ 854	$ 1,884	$ 2,901
Investment expenses	(112)	(78)	(335)	(308)
Net investment income	514	776	1,549	2,593
Debt securities
Net Investment Income [Line Items]
Investment income	562	794	1,716	2,590
Equity securities
Net Investment Income [Line Items]
Investment income	63	$ 60	166	168
Cash, cash equivalents and short-term investments
Net Investment Income [Line Items]
Investment income	$ 1		$ 2	$ 143

Investments - Gross Realized Ga

Investments - Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt securities:
Gross realized gains	$ 2	$ 2,037	$ 29	$ 2,757
Gross realized losses		(2)	(6)	(6)
Total debt securities	2	2,035	23	2,751
Equity securities:
Gross realized gains	55	1,905	4,063	2,853
Gross realized losses	(158)	(624)	(203)	(1,115)
Total equity securities	(103)	1,281	3,860	1,738
Total net realized investment gains (losses)	$ (101)	$ 3,316	$ 3,883	$ 4,489

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Proceeds from sale of available-for-sale debt securities			$ 25,600,000	$ 58,300,000
Gross realized gains from sales of available-for-sale debt securities	$ 0	$ 2,000,000	27,000	2,800,000
Gross realized losses from sales of available-for-sale debt securities	0	0	6,000	0
Amount payable for securities purchased	43,000	10,800,000	43,000	10,800,000
Amount receivable for securities sold	3,000	$ 3,500,000	3,000	$ 3,500,000
Other than temporary impairments losses, investments			0
Investments	1,200,000		1,200,000		$ 1,200,000
Deposits held in trust accounts	8,600,000		8,600,000		8,800,000
Deposits, held in trust for collateral requirements	$ 65,600,000		$ 65,600,000		$ 67,600,000

Investments - Available-for-s_3

Investments - Available-for-sale Fixed Maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Amortized Cost
Due in one year or less	$ 11,001
Due after one year through five years	29,241
Due after five years through ten years	17,943
Due after ten years	16,883
Securities with contractual maturities	75,068
Total debt securities	146,831	$ 149,954
Estimated Fair Value
Due in one year or less	11,047
Due after one year through five years	29,600
Due after five years through ten years	17,827
Due after ten years	16,970
Securities with contractual maturities	75,444
Total debt securities	146,710	151,999
Asset-backed securities
Amortized Cost
Total debt securities	31,051	20,987
Estimated Fair Value
Total debt securities	30,980	20,963
Mortgage-backed securities
Amortized Cost
Total debt securities	32,798	38,512
Estimated Fair Value
Total debt securities	32,285	38,854
Commercial mortgage-backed securities
Amortized Cost
Total debt securities	1,791	2,083
Estimated Fair Value
Total debt securities	1,842	2,126
Collateralized mortgage obligations
Amortized Cost
Total debt securities	6,123	6,361
Estimated Fair Value
Total debt securities	$ 6,159	$ 6,521

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Apr. 24, 2020
Assets:
Total debt securities	$ 146,710	$ 151,999
Equity Securities	19,144	17,336
Short-term investments	10,142	13,317
Total marketable investments measured at fair value	175,996	182,652
Total assets measured at fair value	176,539	183,207
Liabilities:
Debt	34,486	40,997
Total Liabilities measured at fair value	36,974	40,036
Paycheck Protection Program
Liabilities:
Debt		2,745	$ 2,700
Line of credit
Liabilities:
Debt	1,000	5,000
U.S. Government
Assets:
Total debt securities	20,819	30,967
State and local government
Assets:
Total debt securities	31,417	33,265
Corporate debt
Assets:
Total debt securities	23,208	19,303
Asset-backed securities
Assets:
Total debt securities	30,980	20,963
Mortgage-backed securities
Assets:
Total debt securities	32,285	38,854
Commercial mortgage-backed securities
Assets:
Total debt securities	1,842	2,126
Collateralized mortgage obligations
Assets:
Total debt securities	6,159	6,521
Senior Unsecured Notes
Liabilities:
Debt	24,322	20,675
Subordinated notes
Liabilities:
Debt	11,652	11,616
Level 1
Assets:
Total debt securities	0	0
Equity Securities	18,861	17,053
Short-term investments	10,142	13,317
Total marketable investments measured at fair value	29,003	30,370
Liabilities:
Total Liabilities measured at fair value	0	0
Level 1 | U.S. Government
Assets:
Total debt securities	0	0
Level 1 | State and local government
Assets:
Total debt securities	0	0
Level 1 | Corporate debt
Assets:
Total debt securities	0	0
Level 1 | Asset-backed securities
Assets:
Total debt securities	0	0
Level 1 | Mortgage-backed securities
Assets:
Total debt securities	0	0
Level 1 | Commercial mortgage-backed securities
Assets:
Total debt securities	0	0
Level 1 | Collateralized mortgage obligations
Assets:
Total debt securities	0	0
Level 1 | Senior Unsecured Notes
Liabilities:
Debt	0	0
Level 1 | Subordinated notes
Liabilities:
Debt	0	0
Level 2
Assets:
Total debt securities	146,710	151,999
Equity Securities	283	283
Short-term investments	0	0
Total marketable investments measured at fair value	146,993	152,282
Liabilities:
Total Liabilities measured at fair value	25,322	28,420
Level 2 | Paycheck Protection Program
Liabilities:
Debt		2,745
Level 2 | Line of credit
Liabilities:
Debt	1,000	5,000
Level 2 | U.S. Government
Assets:
Total debt securities	20,819	30,967
Level 2 | State and local government
Assets:
Total debt securities	31,417	33,265
Level 2 | Corporate debt
Assets:
Total debt securities	23,208	19,303
Level 2 | Asset-backed securities
Assets:
Total debt securities	30,980	20,963
Level 2 | Mortgage-backed securities
Assets:
Total debt securities	32,285	38,854
Level 2 | Commercial mortgage-backed securities
Assets:
Total debt securities	1,842	2,126
Level 2 | Collateralized mortgage obligations
Assets:
Total debt securities	6,159	6,521
Level 2 | Senior Unsecured Notes
Liabilities:
Debt	24,322	20,675
Level 2 | Subordinated notes
Liabilities:
Debt		0
Level 3
Assets:
Total debt securities	0	0
Equity Securities	0	0
Short-term investments	0	0
Total marketable investments measured at fair value	0	0
Liabilities:
Total Liabilities measured at fair value	11,652	11,616
Level 3 | U.S. Government
Assets:
Total debt securities	0	0
Level 3 | State and local government
Assets:
Total debt securities	0	0
Level 3 | Corporate debt
Assets:
Total debt securities	0	0
Level 3 | Asset-backed securities
Assets:
Total debt securities	0	0
Level 3 | Mortgage-backed securities
Assets:
Total debt securities	0	0
Level 3 | Commercial mortgage-backed securities
Assets:
Total debt securities	0	0
Level 3 | Collateralized mortgage obligations
Assets:
Total debt securities	0	0
Level 3 | Senior Unsecured Notes
Liabilities:
Debt	0	0
Level 3 | Subordinated notes
Liabilities:
Debt	11,652	11,616
Partnership interest
Assets:
Investments measured at NAV	$ 543	$ 555

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	Sep. 30, 2021
Level 1
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Investment portfolio percentage	16.40%
Level 2
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Investment portfolio percentage	83.30%

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Activity in Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance at beginning of period	$ 13,121	$ 11,693	$ 12,243	$ 11,906
Deferred policy acquisition costs	7,663	7,067	22,187	19,552
Amortization of policy acquisition costs	(7,173)	(6,483)	(20,819)	(19,181)
Net change	490	584	1,368	371
Balance at end of period	$ 13,611	$ 12,277	$ 13,611	$ 12,277

Unpaid Losses and Loss Adjust_3

Unpaid Losses and Loss Adjustment Expenses - Changes in the Liability for Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves - beginning of period	$ 117,852	$ 106,734	$ 111,270	$ 107,246
Less: reinsurance recoverables on unpaid losses	(22,824)	(20,892)	(24,218)	(22,579)
Net reserves - beginning of period	95,028	85,842	87,052	84,667
Add: incurred losses and LAE, net of reinsurance:
Current period	12,513	9,858	37,813	29,286
Prior period	3,646	4,695	15,634	11,481
Total net incurred losses and LAE	16,159	14,553	53,447	40,767
Deduct: loss and LAE payments, net of reinsurance:
Current period	5,802	5,149	14,102	9,067
Prior period	8,587	10,126	29,599	31,247
Total net loss and LAE payments	14,389	15,275	43,701	40,314
Net reserves - end of period	96,798	85,120	96,798	85,120
Plus: reinsurance recoverables on unpaid losses	23,056	18,564	23,056	18,564
Gross reserves - end of period	$ 119,854	$ 103,684	$ 119,854	$ 103,684

Unpaid Losses and Loss Adjust_4

Unpaid Losses and Loss Adjustment Expenses - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Liability For Claims And Claims Adjustment Expense [Line Items]
Losses and loss adjustment expenses, net	$ 16,159,000		$ 14,553,000	$ 53,447,000	$ 40,767,000
Prior year adjustments	3,646,000		4,695,000	15,634,000	11,481,000
Winter Storm Uri
Liability For Claims And Claims Adjustment Expense [Line Items]
Losses and loss adjustment expenses, net		$ 2,000,000
2017 Accident Year
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	1,100,000			5,000,000
2018 Accident Year
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	1,400,000			4,800,000
2019 Accident Year
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	1,000,000			3,400,000
2020 Accident Year
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments				2,400,000
Commercial Lines1
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	3,400,000		$ 4,700,000	14,700,000	$ 11,500,000
Personal Lines
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	$ 290,000			$ 926,000

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Effects Of Reinsurance [Line Items]
Ceded premium written	$ 7,635,000	$ 4,798,000	$ 19,974,000	$ 13,311,000
Ceded premiums earned	$ 6,829,000	$ 4,645,000	$ 17,631,000	12,882,000
Minimum
Effects Of Reinsurance [Line Items]
Reinsurance retention policy, reinsured percentage			40.00%
Maximum
Effects Of Reinsurance [Line Items]
Reinsurance retention policy, reinsured percentage			60.00%
Maximum | Homeowners Lines
Effects Of Reinsurance [Line Items]
Amount retained (excess of)			$ 300,000	300,000
Property Risk
Effects Of Reinsurance [Line Items]
Amount retained (excess of)			200,000
Property Risk | Maximum
Effects Of Reinsurance [Line Items]
Amount retained (excess of)			400,000	300,000
Liability Risk | Maximum
Effects Of Reinsurance [Line Items]
Amount retained (excess of)			$ 400,000	$ 400,000

Reinsurance - Effects of Reinsu

Reinsurance - Effects of Reinsurance and Assumption Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Written premiums:
Direct	$ 24,239	$ 21,434	$ 73,825	$ 60,659
Assumed	9,465	8,407	25,233	21,811
Ceded	(7,635)	(4,798)	(19,974)	(13,311)
Net written premiums	26,069	25,043	79,084	69,159
Earned premiums:
Direct	23,858	19,281	67,455	54,652
Assumed	7,912	7,591	22,790	24,232
Ceded	(6,829)	(4,645)	(17,631)	(12,882)
Net earned premiums	24,941	22,227	72,614	66,002
Losses and LAE:
Direct	14,511	11,249	50,628	34,314
Assumed	4,422	5,841	11,251	15,810
Ceded	(2,774)	(2,537)	(8,432)	(9,357)
Total net incurred losses and LAE	$ 16,159	$ 14,553	$ 53,447	$ 40,767

Debt - Narrative (Details)

Debt - Narrative (Details)	Dec. 01, 2022USD ($)	Apr. 24, 2020USD ($)	Sep. 24, 2018USD ($)	Sep. 30, 2021USD ($)debt_instrumentshares	Sep. 30, 2020shares	Sep. 30, 2021USD ($)debt_instrumentshares	Sep. 30, 2020USD ($)shares	Dec. 31, 2020USD ($)	Oct. 31, 2018USD ($)
Debt Instrument [Line Items]
Number of debt instruments | debt_instrument				4		4
Paycheck Protection Program
Debt Instrument [Line Items]
Face amount of debt				$ 2,700,000		$ 2,700,000
Debt		$ 2,700,000						$ 2,745,000
Debt instrument, description		The Company received notice from the SBA that the loan was 100% forgiven, including accrued interest, on July 8, 2021.  This resulted in a $2.8 million gain that is included in Other Gains on the Consolidated Statement of Operations in the third quarter of 2021.
Loan forgiven date		Jul. 8, 2021
Paycheck Protection Program | Other Gains
Debt Instrument [Line Items]
Gain on forgiven loan				2,800,000
Senior Unsecured Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Face amount of debt				$ 24,400,000		$ 24,400,000			$ 25,300,000
Maturity date									Sep. 30, 2023
Interest rate									6.75%
Number of units repurchased | shares				0	0	0	36,761
Repurchased face value amount							$ 919,000
Gain on extinguishment of debt							$ 260,000
Debt issuance costs				$ 520,000		$ 520,000
Subordinated notes | Subordinated notes
Debt Instrument [Line Items]
Face amount of debt			$ 10,500,000	10,500,000		$ 10,500,000
Maturity date			Sep. 30, 2038
Interest rate, payment terms						Interest is payable quarterly at the end of March, June, September and December.
Call premium percentage			12.50%
Debt issuance costs				875,000		$ 875,000
Subordinated notes | Subordinated notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Interest rate			7.50%
Call premium			$ 1,100,000
Subordinated notes | Subordinated notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Interest rate			12.50%
Call premium			$ 1,750,000
Subordinated notes | Subordinated notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Call premium			$ 3,050,000
Line of credit
Debt Instrument [Line Items]
Borrowing capacity	$ 10,000,000			10,000,000		10,000,000
Debt				$ 1,000,000		$ 1,000,000
Line of credit | LIBOR
Debt Instrument [Line Items]
Variable interest rate	2.75%

Debt - Outstanding Senior Debt

Debt - Outstanding Senior Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Apr. 24, 2020
Debt Instrument [Line Items]
Debt	$ 34,486	$ 40,997
Paycheck Protection Program
Debt Instrument [Line Items]
Debt		2,745	$ 2,700
Senior Unsecured Notes
Debt Instrument [Line Items]
Debt	23,861	23,665
Subordinated notes
Debt Instrument [Line Items]
Debt	9,625	9,587
Line of credit
Debt Instrument [Line Items]
Debt	$ 1,000	$ 5,000

Shareholder's Equity - Narrativ

Shareholder's Equity - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)shares	Sep. 30, 2020USD ($)shares	Sep. 30, 2021USD ($)voteshares	Sep. 30, 2020USD ($)shares	Dec. 31, 2020shares
Equity Class Of Treasury Stock [Line Items]
Common stock, shares issued (in shares)	9,706,156		9,706,156		9,681,728
Common stock, shares outstanding (in shares)	9,706,156		9,706,156		9,681,728
Common stock voting rights, number of votes per share | vote			1
Common stocks
Equity Class Of Treasury Stock [Line Items]
Common stock, shares issued (in shares)	9,706,156		9,706,156		9,706,156
Common stock, shares outstanding (in shares)	9,681,728		9,681,728		9,681,728
Restricted Stock Units (RSUs)
Equity Class Of Treasury Stock [Line Items]
Shares repurchased (in shares)	1,240	6,505	3,547	8,813
Shares repurchased | $	$ 4,000	$ 19,000	$ 11,000	$ 27,000
Stock Repurchase Program, December 2018
Equity Class Of Treasury Stock [Line Items]
Shares repurchased (in shares)	0	0	0	2,398
Shares repurchased | $				$ 8,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 43,884	$ 43,280	$ 44,413	$ 42,725
Other comprehensive income (loss)	(614)	(1,377)	(2,185)	1,939
Balance at end of period	42,108	42,586	42,108	42,586
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(659)	3,805	912	489
Other comprehensive income (loss) before reclassifications, net of tax	(570)	(1,085)	(2,100)	2,617
Less: amounts reclassified from accumulated other comprehensive income (loss), net of tax	44	292	85	678
Other comprehensive income (loss)	(614)	(1,377)	(2,185)	1,939
Balance at end of period	$ (1,273)	$ 2,428	$ (1,273)	$ 2,428

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		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income (loss)		$ (1,209)	$ 541	$ (293)	$ (2,679)
Weighted average common shares outstanding, basic and diluted	[1]	9,692,150	9,630,600	9,686,874	9,606,436
Earnings (loss) per common share, basic and diluted		$ (0.12)	$ 0.06	$ (0.03)	$ (0.28)
[1]	The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2021 and 2020.  Therefore, the basic and diluted weighted average common shares are equal for the three and nine months ended September 30, 2021 and 2020

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($)	6 Months Ended	9 Months Ended		12 Months Ended
	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2018	Dec. 31, 2016	Dec. 31, 2015
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued to purchase shares of common stock	280,000
Vesting period	5 years
Strike price	$ 3.81
Expiration date	Jun. 30, 2030
Estimated value of options issued to purchase shares of common stock	$ 290,000
Share-based compensation expense		$ 39,000	$ 14,000
Share-based compensation expense not yet recognized		$ 198,000
Share-based compensation nonvested shares		199,000
2015 Omnibus Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)				70,000	111,281	390,352
Shares granted in period				$ 404,000	$ 909,000	$ 4,100,000
Share-based compensation expense		$ 145,000	$ 622,000
Share-based compensation expense not yet recognized		$ 87,000
Share-based compensation nonvested shares		20,000

Segment Information - Narrative

Segment Information - Narrative (Details) - business	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Number of businesses	3
Gross Written Premiums | Geographic Concentration Risk | Michigan, Florida, Texas and Pennsylvania
Segment Reporting Information [Line Items]
Concentration risk	51.40%	49.90%

Segment Information - Informati

Segment Information - Information by Reportable Operating Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Gross written premiums	$ 33,704	$ 29,841	$ 99,058	$ 82,470
Net written premiums	26,069	25,043	79,084	69,159
Net earned premiums	24,941	22,227	72,614	66,002
Other income	752	642	1,974	2,013
Segment revenue	25,693	22,869	74,588	68,015
Losses and loss adjustment expenses, net	16,159	14,553	53,447	40,767
Policy acquisition costs	7,173	6,483	20,819	19,181
Operating expenses	4,077	4,537	12,768	14,441
Segment expenses	27,409	25,573	87,034	74,389
Segment gain (loss)	(1,716)	(2,704)	(12,446)	(6,374)
Net investment income	514	776	1,549	2,593
Net realized investment gains (losses)	(101)	3,316	3,883	4,489
Change in fair value of equity securities	(2,169)	(356)	(3,234)	(1,866)
Other gains	2,778		11,688	260
Interest expense	(701)	(723)	(2,154)	(2,185)
Income (loss) before equity earnings in Affiliate and income taxes	(1,395)	309	(714)	(3,083)
Operating Segments | Commercial Lines1
Segment Reporting Information [Line Items]
Gross written premiums	29,849	27,297	88,017	76,341
Net written premiums	22,456	22,763	68,685	63,827
Net earned premiums	21,975	20,586	64,869	61,122
Other income	50	44	158	200
Segment revenue	22,025	20,630	65,027	61,322
Losses and loss adjustment expenses, net	14,697	14,195	48,592	38,931
Policy acquisition costs	6,458	6,180	19,102	18,463
Operating expenses	2,954	3,187	8,761	9,835
Segment expenses	24,109	23,562	76,455	67,229
Segment gain (loss)	(2,084)	(2,932)	(11,428)	(5,907)
Income (loss) before equity earnings in Affiliate and income taxes	(2,084)	(2,932)	(11,428)	(5,907)
Operating Segments | Personal Lines
Segment Reporting Information [Line Items]
Gross written premiums	3,855	2,544	11,041	6,129
Net written premiums	3,613	2,280	10,399	5,332
Net earned premiums	2,966	1,641	7,745	4,880
Other income	29	42	113	114
Segment revenue	2,995	1,683	7,858	4,994
Losses and loss adjustment expenses, net	1,462	358	4,855	1,836
Policy acquisition costs	838	537	2,178	1,532
Operating expenses	336	251	1,076	798
Segment expenses	2,636	1,146	8,109	4,166
Segment gain (loss)	359	537	(251)	828
Income (loss) before equity earnings in Affiliate and income taxes	359	537	(251)	828
Operating Segments | Total Underwriting
Segment Reporting Information [Line Items]
Gross written premiums	33,704	29,841	99,058	82,470
Net written premiums	26,069	25,043	79,084	69,159
Net earned premiums	24,941	22,227	72,614	66,002
Other income	80	86	271	314
Segment revenue	25,020	22,313	72,885	66,316
Losses and loss adjustment expenses, net	16,159	14,553	53,447	40,767
Policy acquisition costs	7,296	6,717	21,280	19,995
Operating expenses	3,290	3,438	9,837	10,633
Segment expenses	26,745	24,708	84,564	71,395
Segment gain (loss)	(1,725)	(2,395)	(11,679)	(5,079)
Income (loss) before equity earnings in Affiliate and income taxes	(1,725)	(2,395)	(11,679)	(5,079)
Operating Segments | Wholesale Agency
Segment Reporting Information [Line Items]
Other income	1,235	2,036	4,932	6,051
Segment revenue	1,235	2,036	4,932	6,051
Policy acquisition costs	778	1,328	3,147	3,984
Operating expenses	500	779	2,060	2,420
Segment expenses	1,278	2,107	5,207	6,404
Segment gain (loss)	(43)	(71)	(275)	(353)
Income (loss) before equity earnings in Affiliate and income taxes	(43)	(71)	(275)	(353)
Corporate
Segment Reporting Information [Line Items]
Other income	148	43	219	206
Segment revenue	148	43	219	206
Operating expenses	287	320	871	1,388
Segment expenses	287	320	871	1,388
Segment gain (loss)	(139)	(277)	(652)	(1,182)
Net investment income	514	776	1,549	2,593
Net realized investment gains (losses)	(101)	3,316	3,883	4,489
Change in fair value of equity securities	(2,169)	(356)	(3,234)	(1,866)
Other gains	2,778		11,688	260
Interest expense	(701)	(723)	(2,154)	(2,185)
Income (loss) before equity earnings in Affiliate and income taxes	182	2,736	11,080	2,109
Eliminations
Segment Reporting Information [Line Items]
Other income	(710)	(1,523)	(3,448)	(4,558)
Segment revenue	(710)	(1,523)	(3,448)	(4,558)
Policy acquisition costs	(901)	(1,562)	(3,608)	(4,798)
Segment expenses	(901)	(1,562)	(3,608)	(4,798)
Segment gain (loss)	191	39	160	240
Income (loss) before equity earnings in Affiliate and income taxes	$ 191	$ 39	$ 160	$ 240