Conifer (CNFR) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 09, 2022
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		12,216,324
Document Type	10-Q
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
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	3001 West Big Beaver Road
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Troy
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48084
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, 2022	Dec. 31, 2021
Investment securities:
Debt securities, at fair value (amortized cost of $129,372 and $150,732, respectively)	$ 111,847	$ 149,783
Equity securities, at fair value (cost of $1,906 and $10,972, respectively)	1,312	9,931
Short-term investments, at fair value	30,562	23,013
Total investments	143,721	182,727
Cash and cash equivalents	35,413	9,913
Premiums and agents' balances receivable, net	21,856	21,197
Receivable from Affiliate	5,862	5,784
Reinsurance recoverables on unpaid losses	41,749	40,344
Reinsurance recoverables on paid losses	2,489	1,347
Prepaid reinsurance premiums	15,333	8,301
Deferred policy acquisition costs	10,483	12,267
Other assets	9,096	8,524
Total assets	286,002	290,404
Liabilities:
Unpaid losses and loss adjustment expenses	144,557	139,085
Unearned premiums	67,792	65,269
Reinsurance premiums payable	3,352	5,318
Debt	48,298	33,564
Accounts payable and accrued expenses	5,838	6,665
Total liabilities	269,837	249,901
Commitments and contingencies	0	0
Shareholders' equity:
Common stock, no par value (100,000,000 shares authorized; 12,215,324 and 9,707,817 issued and outstanding, respectively)	97,857	92,692
Accumulated deficit	(62,871)	(50,079)
Accumulated other comprehensive income (loss)	(18,821)	(2,110)
Total shareholders' equity	16,165	40,503
Total liabilities and shareholders' equity	$ 286,002	$ 290,404

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Debt securities, amortized cost	$ 129,372	$ 150,732
Equity securities, amortized cost	$ 1,906	$ 10,972
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)	12,215,324	9,707,817
Common stock, shares outstanding (in shares)	12,215,324	9,707,817

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue and Other Income
Gross earned premiums		$ 34,401	$ 31,770	$ 100,947	$ 90,245
Ceded earned premiums		(9,443)	(6,829)	(27,458)	(17,631)
Net earned premiums		24,958	24,941	73,489	72,614
Net investment income		860	514	1,931	1,549
Net realized investment gains (losses)			(101)	(1,505)	3,883
Change in fair value of equity securities		(151)	(2,169)	446	(3,234)
Other gains (losses)		66	2,778	60	11,688
Other income		603	752	1,964	1,974
Total revenue and other income		26,336	26,715	76,385	88,474
Expenses
Losses and loss adjustment expenses, net		16,671	16,159	56,940	53,447
Policy acquisition costs		6,230	7,173	17,419	20,819
Operating expenses		4,380	4,077	13,010	12,768
Interest expense		778	701	2,216	2,154
Total expenses		28,059	28,110	89,585	89,188
Income (loss) before equity earnings in Affiliate and income taxes		(1,723)	(1,395)	(13,200)	(714)
Equity earnings in Affiliate, net of tax		199	184	368	612
Income tax expense (benefit)		(1)	(2)	(40)	191
Net income (loss)		$ (1,523)	$ (1,209)	$ (12,792)	$ (293)
Earnings (loss) per common share, basic		$ (0.14)	$ (0.12)	$ (1.26)	$ (0.03)
Earnings (loss) per common share, diluted		$ (0.14)	$ (0.12)	$ (1.26)	$ (0.03)
Weighted average common shares outstanding, basic	[1]	11,101,194	9,692,150	10,178,975	9,686,874
Weighted average common shares outstanding, diluted	[1]	11,101,194	9,692,150	10,178,975	9,686,874
[1]The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2022 and 2021.  Therefore, the basic and diluted weighted average common shares are equal for the three months and nine months ended September 30, 2022 and 2021

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (1,523)	$ (1,209)	$ (12,792)	$ (293)
Unrealized investment gains (losses):
Unrealized investment gains (losses) during the period	(4,347)	(570)	(16,641)	(2,100)
Income tax (benefit) expense	0	0	0	0
Unrealized investment gains (losses), net of tax	(4,347)	(570)	(16,641)	(2,100)
Less: reclassification adjustments to:
Net realized investment gains (losses) included in net income (loss)	0	44	70	85
Income tax (benefit) expense	0	0	0	0
Total reclassifications included in net income (loss), net of tax	0	44	70	85
Other comprehensive income (loss)	(4,347)	(614)	(16,711)	(2,185)
Total comprehensive income (loss)	$ (5,870)	$ (1,823)	$ (29,503)	$ (2,478)

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, 2020	$ 44,413	$ 92,486	$ (48,985)	$ 912
Balance at beginning of period (in shares) at Dec. 31, 2020		9,681,728
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
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
Balance at beginning of period at Dec. 31, 2021	40,503	$ 92,692	(50,079)	(2,110)
Balance at beginning of period (in shares) at Dec. 31, 2021		9,707,817
Net income (loss)	(12,792)		(12,792)
Repurchase of common stock	11	$ 11
Repurchase of common stock (in shares)		(1,493)
Issuance of common stock private placement	5,000	$ 5,000
Issuance of common stock private placement (in shares)		2,500,000
Stock-based compensation expense	154	$ 154
Stock-based compensation expense, Shares		9,000
Other comprehensive income (loss)	(16,711)			(16,711)
Balance at end of period at Sep. 30, 2022	16,165	$ 97,857	(62,871)	(18,821)
Balance at ending of period (in shares) at Sep. 30, 2022		12,215,324
Balance at beginning of period at Jun. 30, 2022	16,977	$ 92,799	(61,348)	(14,474)
Balance at beginning of period (in shares) at Jun. 30, 2022		9,715,324
Net income (loss)	(1,523)		(1,523)
Issuance of common stock private placement	5,000	$ 5,000
Issuance of common stock private placement (in shares)		2,500,000
Stock-based compensation expense	58	$ 58
Other comprehensive income (loss)	(4,347)			(4,347)
Balance at end of period at Sep. 30, 2022	$ 16,165	$ 97,857	$ (62,871)	$ (18,821)
Balance at ending of period (in shares) at Sep. 30, 2022		12,215,324

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows From Operating Activities
Net income (loss)	$ (12,792)	$ (293)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Gain on sale of agency business	0	(8,910)
Depreciation and amortization	306	320
Amortization of bond premium and discount, net	292	388
Net realized investment (gains) losses	1,505	(3,917)
Change in fair value of equity securities	(446)	3,234
Stock-based compensation expenses	154	184
Equity earnings in Affiliate, net of tax	(368)	(612)
Other gains/losses	93	(2,728)
(Increase) decrease in:
Premiums and agents' balances and other receivables	(737)	(2,022)
Reinsurance recoverables	(2,547)	(1,040)
Prepaid reinsurance premiums	(7,032)	(2,909)
Deferred policy acquisition costs	1,784	(1,368)
Other assets	(469)	408
Increase (decrease) in:
Unpaid losses and loss adjustment expenses	5,472	8,584
Unearned premiums	2,523	8,812
Reinsurance premiums payable	(1,966)	750
Accounts payable and other liabilities	137	(869)
Net cash provided by (used in) operating activities	(14,091)	(1,988)
Cash Flows From Investing Activities
Purchase of investments	(234,620)	(149,486)
Proceeds from maturities and redemptions of investments	17,638	17,859
Proceeds from sales of investments	237,062	135,591
Proceeds from sale of agency business	0	1,000
Dividends from Affiliate	0	900
Other purchases	0	(531)
Purchases of property and equipment	0	(20)
Net cash provided by (used in) investing activities	20,080	5,313
Cash Flows From Financing Activities
Proceeds from issuance of common stock	5,000	0
Repurchase of common stock	11	(11)
Borrowings under line of credit	5,000	3,000
Borrowings under Federal Home Loan Bank of Indianapolis	14,500	0
Repayment of borrowings under debt arrangements	(5,000)	(7,000)
Net cash provided by (used in) financing activities	19,511	(4,011)
Net increase (decrease) in cash	25,500	(686)
Cash at beginning of period	9,913	8,193
Cash at end of period	35,413	7,507
Supplemental Disclosure of Cash Flow Information:
Interest paid	2,196	2,183
Income taxes paid (refunded), net	(12)	140
Note receivable from sale of agency business	0	9,000
Payable from purchase of agency	$ 0	$ 520

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Recent Developments COVID-19 (the “Pandemic”) caused significant disruption to public health, the global economy, financial markets, and commercial, social and community activity in general. As there has been a significant reduction in reported cases and correspondingly a reduction in government restrictions, we see reduced risk to our business. We continue to monitor potential risks the Pandemic may present including a potential resurgence. Our exposure to the Pandemic is manifold. The majority of our employees continue to work remotely however strict “shelter-in-place” or “stay-at-home” orders have been lifted. A significant portion of our revenues are generated from the hospitality sector within the U.S. which remains under stress due to the threats of resurgence and resource shortages that resulted from the Pandemic. We have continued to provide customer service, process new and renewal business, handle claims and otherwise manage all operations even though the vast majority of the staff is working remotely. To date, we have not seen a major disruption in our business as a result of the Pandemic and currently do not expect to see a material negative impact to our financial position or results of operations as a result of the Pandemic. 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 Agency 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, 2021, as filed with the SEC. The results of operations for the nine months ended September 30, 2022, are not necessarily indicative of the results expected for the year ended December 31, 2022. 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 Troy, 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 (Topic 848)

Investments

Investments	9 Months Ended
	Sep. 30, 2022
Investments Debt And Equity Securities [Abstract]
Investments	2. 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, 2022 and December 31, 2021, were as follows (dollars in thousands): September 30, 2022 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 7,830 $ — $ (367 ) $ 7,463 State and local government 25,661 — (4,516 ) 21,145 Corporate debt 35,544 — (5,398 ) 30,146 Asset-backed securities 22,896 — (1,173 ) 21,723 Mortgage-backed securities 29,772 — (5,442 ) 24,330 Commercial mortgage-backed securities 3,418 — (181 ) 3,237 Collateralized mortgage obligations 4,251 — (448 ) 3,803 Total debt securities available for sale $ 129,372 $ — $ (17,525 ) $ 111,847 December 31, 2021 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 20,723 $ 74 $ (77 ) $ 20,720 State and local government 30,063 555 (189 ) 30,429 Corporate debt 30,808 88 (550 ) 30,346 Asset-backed securities 28,652 10 (224 ) 28,438 Mortgage-backed securities 33,178 105 (762 ) 32,521 Commercial mortgage-backed securities 1,659 31 0 1,690 Collateralized mortgage obligations 5,649 35 (45 ) 5,639 Total debt securities available for sale $ 150,732 $ 898 $ (1,847 ) $ 149,783 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, 2022 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 9 $ 3,746 $ (161 ) 4 $ 3,717 $ (206 ) 13 $ 7,463 $ (367 ) State and local government 93 16,323 (3,165 ) 32 4,518 (1,351 ) 125 20,841 (4,516 ) Corporate debt 42 16,035 (2,568 ) 28 14,111 (2,830 ) 70 30,146 (5,398 ) Asset-backed securities 16 8,267 (162 ) 12 13,456 (1,011 ) 28 21,723 (1,173 ) Mortgage-backed securities 60 4,947 (780 ) 9 19,347 (4,662 ) 69 24,294 (5,442 ) Commercial mortgage-backed securities 4 3,212 (181 ) — — — 4 3,212 (181 ) Collateralized mortgage obligations 26 2,397 (239 ) 7 1,370 (209 ) 33 3,767 (448 ) Total debt securities available for sale 250 $ 54,927 $ (7,256 ) 92 $ 56,519 $ (10,269 ) 342 $ 111,446 $ (17,525 ) December 31, 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 6 $ 10,323 $ (47 ) 1 $ 4,728 $ (30 ) 7 $ 15,051 $ (77 ) State and local government 41 8,875 (172 ) 4 446 (17 ) 45 9,321 (189 ) Corporate debt 41 22,748 (505 ) 1 705 (45 ) 42 23,453 (550 ) Asset-backed securities 24 24,305 (219 ) 2 1,893 (5 ) 26 26,198 (224 ) Mortgage-backed securities 12 27,034 (762 ) — — — 12 27,034 (762 ) Commercial mortgage-backed securities — — — — — — — — — Collateralized mortgage obligations 10 2,638 (45 ) 2 29 — 12 2,667 (45 ) Total debt securities available for sale 134 $ 95,923 $ (1,750 ) 10 $ 7,801 $ (97 ) 144 $ 103,724 $ (1,847 ) 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 nine months ended September 30, 2022 and 2021. 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, 2022 2021 2022 2021 Debt securities $ 636 $ 562 $ 1,814 $ 1,716 Equity securities 3 63 41 166 Cash, cash equivalents and short-term investments 279 1 316 2 Total investment income 918 626 2,171 1,884 Investment expenses (58 ) (112 ) (240 ) (335 ) Net investment income $ 860 $ 514 $ 1,931 $ 1,549 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, 2022 2021 2022 2021 Debt securities: Gross realized gains $ — $ 2 $ 6 $ 29 Gross realized losses — — (155 ) (6 ) Total debt securities — 2 (149 ) 23 Equity securities: Gross realized gains $ — 55 375 4,063 Gross realized losses — (158 ) (1,731 ) (203 ) Total equity securities — (103 ) (1,356 ) 3,860 Total net realized investment gains (losses) $ — $ (101 ) $ (1,505 ) $ 3,883 Proceeds from available-for-sale debt securities were $29.3 million and $25.6 million for the nine months ended September 30, 2022 and 2021, respectively. There were no gross realized gains or losses from the sale of available-for-sale debt securities for the three months ended September 30, 2022. The gross realized gains and losses from the sale of available-for-sale debt securities for the nine months ended September 30, 2022, were $5,000 and $155,000, 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. As of September 30, 2022 and 2021, there were $0 and $43,000 of payables from securities purchased, respectively. There were $0 and $3,000 of receivables from securities sold as of September 30, 2022, and 2021, respectively. The Company’s gross unrealized losses related to its equity investments were $595,000 and $1.0 million as of September 30, 2022 and December 31, 2021, respectively. The Company also 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 2022 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 $1.7 million as of September 30, 2022 and $1.2 million as of December 31, 2021. The table below summarizes the amortized cost and fair value of available-for-sale debt securities by contractual maturity at September 30, 2022. 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 $ 3,955 $ 3,886 Due after one year through five years 28,544 25,944 Due after five years through ten years 23,584 19,261 Due after ten years 12,952 9,663 Securities with contractual maturities 69,035 58,754 Asset-backed securities 22,896 21,723 Mortgage-backed securities 29,772 24,330 Commercial mortgage-backed securities 3,418 3,237 Collateralized mortgage obligations 4,251 3,803 Total debt securities $ 129,372 $ 111,847 At September 30, 2022 and December 31, 2021, the Insurance Company Subsidiaries had $7.9 million and $8.5 million, respectively, on deposit in trust accounts to meet the deposit requirements of various state insurance departments. At September 30, 2022 and December 31, 2021, the Company had $99.9 million and $76.1 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, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. 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. 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, 2022 and December 31, 2021 (dollars in thousands): September 30, 2022 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 7,463 $ — $ 7,463 $ — State and local government 21,145 — 21,145 — Corporate debt 30,146 — 30,146 — Asset-backed securities 21,723 — 21,723 — Mortgage-backed securities 24,330 — 24,330 — Commercial mortgage-backed securities 3,237 — 3,237 — Collateralized mortgage obligations 3,803 — 3,803 — Total debt securities 111,847 — 111,847 — Equity Securities 947 190 757 — Short-term investments 30,562 30,562 — — Total marketable investments measured at fair value $ 143,356 $ 30,752 $ 112,604 $ — Investments measured at NAV: Investment in limited partnership 365 Total assets measured at fair value $ 143,721 Liabilities: Senior Unsecured Notes * $ 23,113 $ — $ 23,113 $ — Subordinated Notes * 11,186 — — 11,186 FHLB of Indianapolis 14,500 — 14,500 — Total Liabilities measured at fair value $ 48,799 $ — $ 37,613 $ 11,186 * Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets December 31, 2021 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 20,720 $ — $ 20,720 $ — State and local government 30,429 — 30,429 — Corporate debt 30,346 — 30,346 — Asset-backed securities 28,438 — 28,438 — Mortgage-backed securities 32,521 — 32,521 — Commercial mortgage-backed securities 1,690 — 1,690 — Collateralized mortgage obligations 5,639 — 5,639 — Total debt securities 149,783 — 149,783 — Equity securities 9,437 9,154 283 — Short-term investments 23,013 23,013 — — Total marketable investments measured at fair value $ 182,233 $ 32,167 $ 150,066 $ — Investments measured at NAV: Investment in limited partnership 494 Total assets measured at fair value $ 182,727 Liabilities: Senior Unsecured Notes * $ 24,118 $ — $ 24,118 $ — Subordinated Notes * 11,704 — — 11,704 Total Liabilities measured at fair value $ 35,822 $ — $ 24,118 $ 11,704 * 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 21.4% and 17.6% of the fair value of the total investment portfolio as of September 30, 2022 and December 31, 2021, respectively. 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 78.4% and 82.1% of the fair value of the total investment portfolio as of September 30, 2022 and December 31, 2021, respectively. 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 and its loan with the FHLB of Indianapolis. The fair value of the borrowings under the senior revolving credit facility, and the FHLB of Indianapolis loan, approximates its carrying amount because interest is based on a short-term, variable, market-based rate. As of September 30, 2022 and December 31, 2021, Level 3 is entirely comprised of the Company's subordinated debt. In determining the fair value of the subordinated debt outstanding at September 30, 2022 and December 31, 2021, 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 used in the model along with the September 30, 2022 and December 31, 2021 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. The Company did not have any assets or liabilities that were measured at fair value on a nonrecurring basis at September 30, 2022 or December 31, 2021.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	9 Months Ended
	Sep. 30, 2022
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	4. 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, 2022 and 2021. 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, 2022 2021 2022 2021 Balance at beginning of period $ 10,747 $ 13,121 $ 12,267 $ 12,243 Deferred policy acquisition costs 5,966 7,663 15,635 22,187 Amortization of policy acquisition costs (6,230 ) (7,173 ) (17,419 ) (20,819 ) Net change (264 ) 490 (1,784 ) 1,368 Balance at end of period $ 10,483 $ 13,611 $ 10,483 $ 13,611

Unpaid Losses and Loss Adjustme

Unpaid Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2022
Insurance Loss Reserves [Abstract]
Unpaid Losses and Loss Adjustment Expenses	5. 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, 2022 2021 2022 2021 Gross reserves - beginning of period $ 140,996 $ 117,852 $ 139,085 $ 111,270 Less: reinsurance recoverables on unpaid losses (37,769 ) (22,824 ) (40,344 ) (24,218 ) Net reserves - beginning of period 103,227 95,028 98,741 87,052 Add: incurred losses and LAE, net of reinsurance: Current period 13,541 12,513 38,765 37,813 Prior period 3,130 3,646 18,175 15,634 Total net incurred losses and LAE 16,671 16,159 56,940 53,447 Deduct: loss and LAE payments, net of reinsurance: Current period 5,634 5,802 13,313 14,102 Prior period 11,456 8,587 39,560 29,599 Total net loss and LAE payments 17,090 14,389 52,873 43,701 Net reserves - end of period 102,808 96,798 102,808 96,798 Plus: reinsurance recoverables on unpaid losses 41,749 23,056 41,749 23,056 Gross reserves - end of period $ 144,557 $ 119,854 $ 144,557 $ 119,854 Net losses and LAE were $16.7 million during the third quarter of 2022. Adverse development contributed $3.1 million to the total incurred losses in the third quarter of 2022. Of the $3.1 million of adverse development, $2.3 million was related to 2019 and prior accident years and $1.8 million was related to the 2021 accident year. This was offset by $958,000 of favorable development experienced in the 2020 accident year. Of the $3.1 million of adverse development, $2.7 million was related to the commercial lines of business, while $381,000 was related to the personal lines of business. Net losses and LAE were $56.9 million for the nine months ended September 30, 2022. Adverse development contributed $18.2 million to the total incurred losses during the nine months ended September 30, 2022. Of the $18.2 million of adverse development, $14.3 million was related to 2019 and prior accident years, $2.2 million was related to the 2020 accident year, and $1.7 million was related to the 2021 accident year. Of the $18.2 million of adverse development, $17.7 million was related to the commercial lines of business, while $430,000 came from the personal lines of business. Net losses and LAE were $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.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2022
Reinsurance Disclosures [Abstract]
Reinsurance	6. 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 ceded primarily all specific commercial liability risks in excess of $340,000 in 2022, and $400,000 in 2021. The Company ceded specific commercial property risks in excess of $300,000 in 2022 and ceded specific commercial property risks in excess of $200,000 in 2021. The Company ceded homeowners specific risks in excess of $300,000 in both 2022 and 2021. 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, 2022 2021 2022 2021 Written premiums: Direct $ 22,682 $ 24,239 $ 73,789 $ 73,825 Assumed 10,406 9,465 29,681 25,233 Ceded (9,395 ) (7,635 ) (34,490 ) (19,974 ) Net written premiums $ 23,693 $ 26,069 $ 68,980 $ 79,084 Earned premiums: Direct $ 24,679 $ 23,858 $ 73,667 $ 67,455 Assumed 9,722 7,912 27,280 22,790 Ceded (9,443 ) (6,829 ) (27,458 ) (17,631 ) Net earned premiums $ 24,958 $ 24,941 $ 73,489 $ 72,614 Losses and LAE: Direct $ 15,837 $ 14,511 $ 46,375 $ 50,628 Assumed 7,225 4,422 26,136 11,251 Ceded (6,391 ) (2,774 ) (15,571 ) (8,432 ) Net Losses and LAE $ 16,671 $ 16,159 $ 56,940 $ 53,447 Some of the excess of loss treaties that renewed on December 31, 2021 and January 1, 2022, included ceding commissions equal to 40% of the ceded premiums. The ceding commission is reflected as a reduction in acquisition costs and amounted to $2.1 million and $6.4 million for the three and nine months ended September 30, 2022. There were no ceding commissions reflected in the Consolidated Statements of Operations in 2021, relating to the excess of loss reinsurance treaties during 2021.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	7. As of September 30, 2022, the Company's debt is comprised of four instruments: $24.4 million of publicly traded senior unsecured notes which were issued in 2018, a $10.0 million line of credit which commenced in June 2018, $10.5 million of privately placed subordinated notes, and a loan of $14.5 million from the Federal Home Loan Bank (“FHLB”) of Indianapolis, which commenced in July 2022. A summary of the Company's outstanding debt is as follows (dollars in thousands): September 30, 2022 December 31, 2021 Senior unsecured notes * $ 24,121 $ 23,926 Subordinated notes * 9,677 9,638 FHLB of Indianapolis 14,500 — Total $ 48,298 $ 33,564 *Net of unamortized debt issuance costs 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, 2022 and 2021. Management plans to issue new public debt that will provide sufficient cash flow to pay off the senior unsecured notes that are coming due within the next twelve months. Management believes it is probable that it will be able to issue new public debt and repay the senior unsecured notes by September 30, 2023. 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, 2022, the carrying value of the Notes and Subordinated Notes are offset by $260,000 and $823,000 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 restrictive financial debt covenants that relate to the Company’s minimum tangible net worth, minimum fixed-charge coverage ratios, dividend paying capacity, reinsurance retentions, risk-based capital ratios, and debt-to-total capital. As of March 31, 2022, the Company was not in compliance with the tangible net worth and the debt-to-total capital financial covenants, principally due to changes in unrealized fair values of the bond portfolio resulting from the significant increase in the interest rate environment. On May 9, 2022, the holders of the Subordinated Notes waived the March 31, 2022 tangible net worth and debt-to-total capital requirements and the agreement was amended to exclude changes in unrealized gains or losses in the debt securities investment portfolio of the Company subsequent to December 31, 2021, when calculating the debt covenant ratios. As of June 30, 2022, the Company was not in compliance on the tangible net worth covenant of the Subordinated Notes. On August 8, 2022, the holders of the Subordinated Notes waived the June 30, 2022 tangible net worth requirement. The $5.0 million contribution to the Company on August 10, 2022 (see Note 8 ~ Shareholder’s Equity 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. On June 18, 2021, the line of credit was renewed with a maturity of December 1, 2022. The line of credit contains restrictive financial debt covenants that relate to the Company’s minimum tangible net worth, minimum fixed-charge coverage ratios, dividend paying capacity, reinsurance retentions, risk-based capital ratios, and debt-to-total capital. On August 8, 2022, the Company entered into an amendment with the Lender which eliminated the financial debt covenant requirements if there is no outstanding balance going forward, and requires prior bank approval for any future draws on the line of credit. As of September 30, 2022, the Company had no balance outstanding on the line of credit. FHLB of Indianapolis loan On July 7, 2022, the Company borrowed $14.5 million from the FHLB of Indianapolis. The loan is fully collateralized with high-quality federally guaranteed debt securities and cash. The loan was drawn for short-term cash needs to avoid realizing losses on a statutory accounting basis due to temporary market-timing issues caused by the recent fluctuations in the interest rate markets. The loan has a daily floating interest rate that was 3.45% per annum as of September 30, 2022. The loan matures on January 9, 2023. 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 was 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, 2022
Stockholders Equity Note [Abstract]
Shareholder's Equity	8. Shareholder’s Equity On August 10, 2022, the Company issued $5.0 million of equity through a private placement for 2,500,000 shares priced at $2.00 per share. The participants in the private placement consisted of members of the Company's Board of Directors. The Company used the proceeds for growth capital in the Company's specialty core business segments. For the three months ended September 30, 2022, the Company had no restricted stock units vest, and made no repurchases of stock. For the three months ended September 30, 2021, the Company repurchase 1,240 shares of stock valued at approximately $4,000, related to the vesting of the Company’s restricted stock units. For the nine months ended September 30, 2022 and 2021, the Company repurchased 1,493 and 3,547 shares of stock valued at approximately $3,000 and $11,000, respectively. Upon the repurchase of the Company’s shares, the shares remain authorized, but not issued or outstanding. As of September 30, 2022 and December 31, 2021, the Company had 12,215,324 and 9,707,817 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, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	9. 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, 2022 2021 2022 2021 Balance at beginning of period $ (14,474 ) $ (659 ) $ (2,110 ) $ 912 Other comprehensive income (loss) before reclassifications, net of tax (4,347 ) (570 ) (16,641 ) (2,100 ) Less: amounts reclassified from accumulated other comprehensive income (loss), net of tax — 44 70 85 Net other comprehensive income (loss) (4,347 ) (614 ) (16,711 ) (2,185 ) Balance at end of period $ (18,821 ) $ (1,273 ) $ (18,821 ) $ (1,273 )

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	10. 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, 2022 2021 2022 2021 Net income (loss) $ (1,523 ) $ (1,209 ) $ (12,792 ) $ (293 ) Weighted average common shares, basic and diluted * 11,101,194 9,692,150 10,178,975 9,686,874 Earnings (loss) per common share, basic and diluted $ (0.14 ) $ (0.12 ) $ (1.26 ) $ (0.03 ) * The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2022 and 2021. Therefore, the basic and diluted weighted average common shares are equal for the three months and nine months ended September 30, 2022 and 2021.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based Compensation	11. Stock-based Compensation On March 8, 2022, the Company issued options to purchase 630,000 shares of the Company’s common stock to two named executive officers. The right to exercise the options will vest over a five-year On June 30, 2020, the Company issued options to purchase 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 period on a straight-line basis. The options have a strike price of $ 3.81 per share and expire on June 30, 2030 . The estimated value of these options is $ , which is being expensed ratably over the vesting period. In 2016 and 2018, the Company issued 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 $909,000 and $404,000, respectively, on the dates of grant. The Company recorded $43,000 and $145,000 of compensation expense related to the RSUs for the nine months ended September 30, 2022 and 2021, respectively. There were 10,000 unvested RSUs as of September 30, 2022, which will generate an estimated future expense of $30,000. The Company recorded $111,000 and $39,000 of compensation expense related to the stock options for the nine months ended September 30, 2022 and 2021, respectively. There were 783,000 unvested options as of September 30, 2022, which will generate an estimated future expense of $685,000.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. 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, 2022
Segment Reporting [Abstract]
Segment Information	13. 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 co-chief operating decision makers in deciding how to allocate resources to its segments and in assessing its performance. In assessing performance of its operating segments, the Company’s co-chief operating decision makers, the Co-Chief Executive Officers, review 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, 2022 and 2021, gross written premiums attributable to these four states were 56.2% and 51.4%, 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, 2022 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 27,635 $ 5,453 $ 33,088 $ — $ — $ — $ 33,088 Net written premiums $ 18,730 $ 4,963 $ 23,693 $ — $ — $ — $ 23,693 Net earned premiums $ 20,789 $ 4,169 $ 24,958 $ — $ — $ — $ 24,958 Other income 57 26 83 793 113 (386 ) 603 Segment revenue 20,846 4,195 25,041 793 113 (386 ) 25,561 Losses and LAE, net 13,348 3,323 16,671 — — — 16,671 Policy acquisition costs 4,950 1,214 6,164 498 — (432 ) 6,230 Operating expenses 3,297 519 3,816 245 319 — 4,380 Segment expenses 21,595 5,056 26,651 743 319 (432 ) 27,281 Segment gain (loss) $ (749 ) $ (861 ) $ (1,610 ) $ 50 $ (206 ) $ 46 $ (1,720 ) Investment income 860 860 Net realized investment gains (losses) — — Change in fair value of equity securities (151 ) (151 ) Other gains (losses) 66 66 Interest expense (778 ) (778 ) Income (loss) before equity earnings in Affiliate and income taxes $ (749 ) $ (861 ) $ (1,610 ) $ 50 $ (209 ) $ 46 $ (1,723 ) 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 79 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 ) Nine months ended September 30, 2022 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 88,297 $ 15,173 $ 103,470 $ — $ — $ — $ 103,470 Net written premiums $ 55,456 $ 13,524 $ 68,980 $ — $ — $ — $ 68,980 Net earned premiums $ 62,097 $ 11,392 $ 73,489 $ — $ — $ — $ 73,489 Other income 195 58 253 2,969 407 (1,665 ) 1,964 Segment revenue 62,292 11,450 73,742 2,969 407 (1,665 ) 75,453 Losses and LAE, net 49,864 7,076 56,940 — — — 56,940 Policy acquisition costs 13,717 3,530 17,247 2,026 — (1,854 ) 17,419 Operating expenses 9,966 1,405 11,371 811 828 — 13,010 Segment expenses 73,547 12,011 85,558 2,837 828 (1,854 ) 87,369 Segment gain (loss) $ (11,255 ) $ (561 ) $ (11,816 ) $ 132 $ (421 ) $ 189 $ (11,916 ) Investment income 1,931 1,931 Net realized investment gains (losses) (1,505 ) (1,505 ) Change in fair value of equity securities 446 446 Other gains 60 60 Interest expense (2,216 ) (2,216 ) Income (loss) before equity earnings in Affiliate and income taxes $ (11,255 ) $ (561 ) $ (11,816 ) $ 132 $ (1,705 ) $ 189 $ (13,200 ) 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 (losses) 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 )

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events On October 13, 2022, the Company purchased the 50% ownership interest in Venture that was owned by a third party for $9.7 million, resulting in Venture being owned 100% by the Company. On October 14, 2022, Venture completed the sale of certain producer business assets with Whitetail Insurance Services, LLC (the “Buyer”), a wholly-owned subsidiary of Acrisure, LLC (“Acrisure”), for a purchase price of $38.2 million. The effective date of the asset purchase agreement is October 1, 2022. There is no material relationship between the Company or any director or officer of the Company, or any associate of any director or officer of the Company, and the Buyer, other than with respect to the Company's disposition of assets to the Buyer. The assets involved in this transaction relate to Venture Agency Holdings, Inc. insurance brokerage and associated services provided largely to the security sector. This sale, along with related transactions including the cost of the Company purchasing the other 50% of Venture, is expected to generate approximately $8.0 million of non-operating gains for the Company, net of taxes, in the fourth quarter of 2022. This sale is not expected to result in discontinued operations related to agency business. On November 1, 2022, Conifer Holdings, Inc. (the “Company”), entered into a loss portfolio transfer (“LPT”) reinsurance agreement with Fleming Reinsurance Ltd (“Fleming Re”). Under the agreement, Fleming Re will cover an aggregate limit of $66.3 million of paid losses on $40.8 million of stated net reserves as of June 30, 2022, relating to accident years 2019 and prior. Within the aggregate limit, there is a $5.5 million loss corridor in which the Company and WPIC retains losses in excess of $40.8 million. Fleming Re is then responsible to cover paid losses in excess of $46.3 million up to $66.3 million. Accordingly, there is $20.0 million of adverse development cover for accident years 2019 and prior. Under the agreement, Fleming Re retains $40.8 million for stated net reserves as of June 30, 2022, plus a one-time risk fee of $5.4 million. Recoverables due to the Company under this agreement will be recorded as reinsurance recoverables. The agreement is between CIC and WPIC and Fleming Re.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Management Representation	Recent Developments COVID-19 (the “Pandemic”) caused significant disruption to public health, the global economy, financial markets, and commercial, social and community activity in general. As there has been a significant reduction in reported cases and correspondingly a reduction in government restrictions, we see reduced risk to our business. We continue to monitor potential risks the Pandemic may present including a potential resurgence. Our exposure to the Pandemic is manifold. The majority of our employees continue to work remotely however strict “shelter-in-place” or “stay-at-home” orders have been lifted. A significant portion of our revenues are generated from the hospitality sector within the U.S. which remains under stress due to the threats of resurgence and resource shortages that resulted from the Pandemic. We have continued to provide customer service, process new and renewal business, handle claims and otherwise manage all operations even though the vast majority of the staff is working remotely. To date, we have not seen a major disruption in our business as a result of the Pandemic and currently do not expect to see a material negative impact to our financial position or results of operations as a result of the Pandemic. 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 Agency 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, 2021, as filed with the SEC. The results of operations for the nine months ended September 30, 2022, are not necessarily indicative of the results expected for the year ended December 31, 2022.
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 Troy, 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 (Topic 848)

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 and December 31, 2021, were as follows (dollars in thousands): September 30, 2022 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 7,830 $ — $ (367 ) $ 7,463 State and local government 25,661 — (4,516 ) 21,145 Corporate debt 35,544 — (5,398 ) 30,146 Asset-backed securities 22,896 — (1,173 ) 21,723 Mortgage-backed securities 29,772 — (5,442 ) 24,330 Commercial mortgage-backed securities 3,418 — (181 ) 3,237 Collateralized mortgage obligations 4,251 — (448 ) 3,803 Total debt securities available for sale $ 129,372 $ — $ (17,525 ) $ 111,847 December 31, 2021 Cost or Gross Unrealized Estimated Amortized Cost Gains Losses Fair Value Debt Securities: U.S. Government $ 20,723 $ 74 $ (77 ) $ 20,720 State and local government 30,063 555 (189 ) 30,429 Corporate debt 30,808 88 (550 ) 30,346 Asset-backed securities 28,652 10 (224 ) 28,438 Mortgage-backed securities 33,178 105 (762 ) 32,521 Commercial mortgage-backed securities 1,659 31 0 1,690 Collateralized mortgage obligations 5,649 35 (45 ) 5,639 Total debt securities available for sale $ 150,732 $ 898 $ (1,847 ) $ 149,783
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, 2022 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 9 $ 3,746 $ (161 ) 4 $ 3,717 $ (206 ) 13 $ 7,463 $ (367 ) State and local government 93 16,323 (3,165 ) 32 4,518 (1,351 ) 125 20,841 (4,516 ) Corporate debt 42 16,035 (2,568 ) 28 14,111 (2,830 ) 70 30,146 (5,398 ) Asset-backed securities 16 8,267 (162 ) 12 13,456 (1,011 ) 28 21,723 (1,173 ) Mortgage-backed securities 60 4,947 (780 ) 9 19,347 (4,662 ) 69 24,294 (5,442 ) Commercial mortgage-backed securities 4 3,212 (181 ) — — — 4 3,212 (181 ) Collateralized mortgage obligations 26 2,397 (239 ) 7 1,370 (209 ) 33 3,767 (448 ) Total debt securities available for sale 250 $ 54,927 $ (7,256 ) 92 $ 56,519 $ (10,269 ) 342 $ 111,446 $ (17,525 ) December 31, 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 6 $ 10,323 $ (47 ) 1 $ 4,728 $ (30 ) 7 $ 15,051 $ (77 ) State and local government 41 8,875 (172 ) 4 446 (17 ) 45 9,321 (189 ) Corporate debt 41 22,748 (505 ) 1 705 (45 ) 42 23,453 (550 ) Asset-backed securities 24 24,305 (219 ) 2 1,893 (5 ) 26 26,198 (224 ) Mortgage-backed securities 12 27,034 (762 ) — — — 12 27,034 (762 ) Commercial mortgage-backed securities — — — — — — — — — Collateralized mortgage obligations 10 2,638 (45 ) 2 29 — 12 2,667 (45 ) Total debt securities available for sale 134 $ 95,923 $ (1,750 ) 10 $ 7,801 $ (97 ) 144 $ 103,724 $ (1,847 )
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, 2022 2021 2022 2021 Debt securities $ 636 $ 562 $ 1,814 $ 1,716 Equity securities 3 63 41 166 Cash, cash equivalents and short-term investments 279 1 316 2 Total investment income 918 626 2,171 1,884 Investment expenses (58 ) (112 ) (240 ) (335 ) Net investment income $ 860 $ 514 $ 1,931 $ 1,549
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, 2022 2021 2022 2021 Debt securities: Gross realized gains $ — $ 2 $ 6 $ 29 Gross realized losses — — (155 ) (6 ) Total debt securities — 2 (149 ) 23 Equity securities: Gross realized gains $ — 55 375 4,063 Gross realized losses — (158 ) (1,731 ) (203 ) Total equity securities — (103 ) (1,356 ) 3,860 Total net realized investment gains (losses) $ — $ (101 ) $ (1,505 ) $ 3,883
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, 2022. 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 $ 3,955 $ 3,886 Due after one year through five years 28,544 25,944 Due after five years through ten years 23,584 19,261 Due after ten years 12,952 9,663 Securities with contractual maturities 69,035 58,754 Asset-backed securities 22,896 21,723 Mortgage-backed securities 29,772 24,330 Commercial mortgage-backed securities 3,418 3,237 Collateralized mortgage obligations 4,251 3,803 Total debt securities $ 129,372 $ 111,847

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 and December 31, 2021 (dollars in thousands): September 30, 2022 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 7,463 $ — $ 7,463 $ — State and local government 21,145 — 21,145 — Corporate debt 30,146 — 30,146 — Asset-backed securities 21,723 — 21,723 — Mortgage-backed securities 24,330 — 24,330 — Commercial mortgage-backed securities 3,237 — 3,237 — Collateralized mortgage obligations 3,803 — 3,803 — Total debt securities 111,847 — 111,847 — Equity Securities 947 190 757 — Short-term investments 30,562 30,562 — — Total marketable investments measured at fair value $ 143,356 $ 30,752 $ 112,604 $ — Investments measured at NAV: Investment in limited partnership 365 Total assets measured at fair value $ 143,721 Liabilities: Senior Unsecured Notes * $ 23,113 $ — $ 23,113 $ — Subordinated Notes * 11,186 — — 11,186 FHLB of Indianapolis 14,500 — 14,500 — Total Liabilities measured at fair value $ 48,799 $ — $ 37,613 $ 11,186 * Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets December 31, 2021 Fair Value Measurements Total Level 1 Level 2 Level 3 Assets: Debt Securities: U.S. Government $ 20,720 $ — $ 20,720 $ — State and local government 30,429 — 30,429 — Corporate debt 30,346 — 30,346 — Asset-backed securities 28,438 — 28,438 — Mortgage-backed securities 32,521 — 32,521 — Commercial mortgage-backed securities 1,690 — 1,690 — Collateralized mortgage obligations 5,639 — 5,639 — Total debt securities 149,783 — 149,783 — Equity securities 9,437 9,154 283 — Short-term investments 23,013 23,013 — — Total marketable investments measured at fair value $ 182,233 $ 32,167 $ 150,066 $ — Investments measured at NAV: Investment in limited partnership 494 Total assets measured at fair value $ 182,727 Liabilities: Senior Unsecured Notes * $ 24,118 $ — $ 24,118 $ — Subordinated Notes * 11,704 — — 11,704 Total Liabilities measured at fair value $ 35,822 $ — $ 24,118 $ 11,704 * 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, 2022
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, 2022 2021 2022 2021 Balance at beginning of period $ 10,747 $ 13,121 $ 12,267 $ 12,243 Deferred policy acquisition costs 5,966 7,663 15,635 22,187 Amortization of policy acquisition costs (6,230 ) (7,173 ) (17,419 ) (20,819 ) Net change (264 ) 490 (1,784 ) 1,368 Balance at end of period $ 10,483 $ 13,611 $ 10,483 $ 13,611

Unpaid Losses and Loss Adjust_2

Unpaid Losses and Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 2021 2022 2021 Gross reserves - beginning of period $ 140,996 $ 117,852 $ 139,085 $ 111,270 Less: reinsurance recoverables on unpaid losses (37,769 ) (22,824 ) (40,344 ) (24,218 ) Net reserves - beginning of period 103,227 95,028 98,741 87,052 Add: incurred losses and LAE, net of reinsurance: Current period 13,541 12,513 38,765 37,813 Prior period 3,130 3,646 18,175 15,634 Total net incurred losses and LAE 16,671 16,159 56,940 53,447 Deduct: loss and LAE payments, net of reinsurance: Current period 5,634 5,802 13,313 14,102 Prior period 11,456 8,587 39,560 29,599 Total net loss and LAE payments 17,090 14,389 52,873 43,701 Net reserves - end of period 102,808 96,798 102,808 96,798 Plus: reinsurance recoverables on unpaid losses 41,749 23,056 41,749 23,056 Gross reserves - end of period $ 144,557 $ 119,854 $ 144,557 $ 119,854

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 2021 2022 2021 Written premiums: Direct $ 22,682 $ 24,239 $ 73,789 $ 73,825 Assumed 10,406 9,465 29,681 25,233 Ceded (9,395 ) (7,635 ) (34,490 ) (19,974 ) Net written premiums $ 23,693 $ 26,069 $ 68,980 $ 79,084 Earned premiums: Direct $ 24,679 $ 23,858 $ 73,667 $ 67,455 Assumed 9,722 7,912 27,280 22,790 Ceded (9,443 ) (6,829 ) (27,458 ) (17,631 ) Net earned premiums $ 24,958 $ 24,941 $ 73,489 $ 72,614 Losses and LAE: Direct $ 15,837 $ 14,511 $ 46,375 $ 50,628 Assumed 7,225 4,422 26,136 11,251 Ceded (6,391 ) (2,774 ) (15,571 ) (8,432 ) Net Losses and LAE $ 16,671 $ 16,159 $ 56,940 $ 53,447 Some of the excess of loss treaties that renewed on December 31, 2021 and January 1, 2022, included ceding commissions equal to 40% of the ceded premiums. The ceding commission is reflected as a reduction in acquisition costs and amounted to $2.1 million and $6.4 million for the three and nine months ended September 30, 2022. There were no ceding commissions reflected in the Consolidated Statements of Operations in 2021, relating to the excess of loss reinsurance treaties during 2021.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Outstanding Senior Debt	A summary of the Company's outstanding debt is as follows (dollars in thousands): September 30, 2022 December 31, 2021 Senior unsecured notes * $ 24,121 $ 23,926 Subordinated notes * 9,677 9,638 FHLB of Indianapolis 14,500 — Total $ 48,298 $ 33,564 *Net of unamortized debt issuance costs

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 2021 2022 2021 Balance at beginning of period $ (14,474 ) $ (659 ) $ (2,110 ) $ 912 Other comprehensive income (loss) before reclassifications, net of tax (4,347 ) (570 ) (16,641 ) (2,100 ) Less: amounts reclassified from accumulated other comprehensive income (loss), net of tax — 44 70 85 Net other comprehensive income (loss) (4,347 ) (614 ) (16,711 ) (2,185 ) Balance at end of period $ (18,821 ) $ (1,273 ) $ (18,821 ) $ (1,273 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 2021 2022 2021 Net income (loss) $ (1,523 ) $ (1,209 ) $ (12,792 ) $ (293 ) Weighted average common shares, basic and diluted * 11,101,194 9,692,150 10,178,975 9,686,874 Earnings (loss) per common share, basic and diluted $ (0.14 ) $ (0.12 ) $ (1.26 ) $ (0.03 ) * The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2022 and 2021. Therefore, the basic and diluted weighted average common shares are equal for the three months and nine months ended September 30, 2022 and 2021.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 27,635 $ 5,453 $ 33,088 $ — $ — $ — $ 33,088 Net written premiums $ 18,730 $ 4,963 $ 23,693 $ — $ — $ — $ 23,693 Net earned premiums $ 20,789 $ 4,169 $ 24,958 $ — $ — $ — $ 24,958 Other income 57 26 83 793 113 (386 ) 603 Segment revenue 20,846 4,195 25,041 793 113 (386 ) 25,561 Losses and LAE, net 13,348 3,323 16,671 — — — 16,671 Policy acquisition costs 4,950 1,214 6,164 498 — (432 ) 6,230 Operating expenses 3,297 519 3,816 245 319 — 4,380 Segment expenses 21,595 5,056 26,651 743 319 (432 ) 27,281 Segment gain (loss) $ (749 ) $ (861 ) $ (1,610 ) $ 50 $ (206 ) $ 46 $ (1,720 ) Investment income 860 860 Net realized investment gains (losses) — — Change in fair value of equity securities (151 ) (151 ) Other gains (losses) 66 66 Interest expense (778 ) (778 ) Income (loss) before equity earnings in Affiliate and income taxes $ (749 ) $ (861 ) $ (1,610 ) $ 50 $ (209 ) $ 46 $ (1,723 ) 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 79 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 ) Nine months ended September 30, 2022 Commercial Lines Personal Lines Total Underwriting Wholesale Agency Corporate Eliminations Total Gross written premiums $ 88,297 $ 15,173 $ 103,470 $ — $ — $ — $ 103,470 Net written premiums $ 55,456 $ 13,524 $ 68,980 $ — $ — $ — $ 68,980 Net earned premiums $ 62,097 $ 11,392 $ 73,489 $ — $ — $ — $ 73,489 Other income 195 58 253 2,969 407 (1,665 ) 1,964 Segment revenue 62,292 11,450 73,742 2,969 407 (1,665 ) 75,453 Losses and LAE, net 49,864 7,076 56,940 — — — 56,940 Policy acquisition costs 13,717 3,530 17,247 2,026 — (1,854 ) 17,419 Operating expenses 9,966 1,405 11,371 811 828 — 13,010 Segment expenses 73,547 12,011 85,558 2,837 828 (1,854 ) 87,369 Segment gain (loss) $ (11,255 ) $ (561 ) $ (11,816 ) $ 132 $ (421 ) $ 189 $ (11,916 ) Investment income 1,931 1,931 Net realized investment gains (losses) (1,505 ) (1,505 ) Change in fair value of equity securities 446 446 Other gains 60 60 Interest expense (2,216 ) (2,216 ) Income (loss) before equity earnings in Affiliate and income taxes $ (11,255 ) $ (561 ) $ (11,816 ) $ 132 $ (1,705 ) $ 189 $ (13,200 ) 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 (losses) 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 )

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 class_business state
Accounting Policies [Abstract]
Non Controlling Interest	50%
Number of types of business | class_business	3
Number of states in which entity operates | state	50

Investments - Available-for-sal

Investments - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	$ 129,372	$ 150,732
Debt securities, Gross Unrealized Gain	0	898
Debt securities, Gross Unrealized Losses	(17,525)	(1,847)
Debt securities, Estimated Fair Value	111,847	149,783
U.S. Government
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	7,830	20,723
Debt securities, Gross Unrealized Gain	0	74
Debt securities, Gross Unrealized Losses	(367)	(77)
Debt securities, Estimated Fair Value	7,463	20,720
State and local government
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	25,661	30,063
Debt securities, Gross Unrealized Gain	0	555
Debt securities, Gross Unrealized Losses	(4,516)	(189)
Debt securities, Estimated Fair Value	21,145	30,429
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	35,544	30,808
Debt securities, Gross Unrealized Gain	0	88
Debt securities, Gross Unrealized Losses	(5,398)	(550)
Debt securities, Estimated Fair Value	30,146	30,346
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	22,896	28,652
Debt securities, Gross Unrealized Gain	0	10
Debt securities, Gross Unrealized Losses	(1,173)	(224)
Debt securities, Estimated Fair Value	21,723	28,438
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	29,772	33,178
Debt securities, Gross Unrealized Gain	0	105
Debt securities, Gross Unrealized Losses	(5,442)	(762)
Debt securities, Estimated Fair Value	24,330	32,521
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	3,418	1,659
Debt securities, Gross Unrealized Gain	0	31
Debt securities, Gross Unrealized Losses	(181)	0
Debt securities, Estimated Fair Value	3,237	1,690
Collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Debt securities, Cost or Amortized Cost	4,251	5,649
Debt securities, Gross Unrealized Gain	0	35
Debt securities, Gross Unrealized Losses	(448)	(45)
Debt securities, Estimated Fair Value	$ 3,803	$ 5,639

Investments - Available-for-s_2

Investments - Available-for-sale Securities in Unrealized Loss Positions (Details) $ in Thousands	Sep. 30, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt securities, less than 12 months, number of issues | security	250	134
Debt securities, greater than 12 months, number of issues | security	92	10
Debt securities, number of issues | security	342	144
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 54,927	$ 95,923
Debt securities, greater than 12 months, fair value	56,519	7,801
Debt securities, fair value	111,446	103,724
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(7,256)	(1,750)
Debt securities, greater than 12 months, unrealized losses	(10,269)	(97)
Debt securities, total unrealized losses	$ (17,525)	$ (1,847)
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	9	6
Debt securities, greater than 12 months, number of issues | security	4	1
Debt securities, number of issues | security	13	7
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 3,746	$ 10,323
Debt securities, greater than 12 months, fair value	3,717	4,728
Debt securities, fair value	7,463	15,051
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(161)	(47)
Debt securities, greater than 12 months, unrealized losses	(206)	(30)
Debt securities, total unrealized losses	$ (367)	$ (77)
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	93	41
Debt securities, greater than 12 months, number of issues | security	32	4
Debt securities, number of issues | security	125	45
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 16,323	$ 8,875
Debt securities, greater than 12 months, fair value	4,518	446
Debt securities, fair value	20,841	9,321
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(3,165)	(172)
Debt securities, greater than 12 months, unrealized losses	(1,351)	(17)
Debt securities, total unrealized losses	$ (4,516)	$ (189)
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	42	41
Debt securities, greater than 12 months, number of issues | security	28	1
Debt securities, number of issues | security	70	42
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 16,035	$ 22,748
Debt securities, greater than 12 months, fair value	14,111	705
Debt securities, fair value	30,146	23,453
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(2,568)	(505)
Debt securities, greater than 12 months, unrealized losses	(2,830)	(45)
Debt securities, total unrealized losses	$ (5,398)	$ (550)
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	16	24
Debt securities, greater than 12 months, number of issues | security	12	2
Debt securities, number of issues | security	28	26
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 8,267	$ 24,305
Debt securities, greater than 12 months, fair value	13,456	1,893
Debt securities, fair value	21,723	26,198
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(162)	(219)
Debt securities, greater than 12 months, unrealized losses	(1,011)	(5)
Debt securities, total unrealized losses	$ (1,173)	$ (224)
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	60	12
Debt securities, greater than 12 months, number of issues | security	9	0
Debt securities, number of issues | security	69	12
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 4,947	$ 27,034
Debt securities, greater than 12 months, fair value	19,347	0
Debt securities, fair value	24,294	27,034
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(780)	(762)
Debt securities, greater than 12 months, unrealized losses	(4,662)	0
Debt securities, total unrealized losses	$ (5,442)	$ (762)
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	4	0
Debt securities, greater than 12 months, number of issues | security	0	0
Debt securities, number of issues | security	4	0
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 3,212	$ 0
Debt securities, greater than 12 months, fair value	0	0
Debt securities, fair value	3,212	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(181)	0
Debt securities, greater than 12 months, unrealized losses	0	0
Debt securities, total unrealized losses	$ (181)	$ 0
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	26	10
Debt securities, greater than 12 months, number of issues | security	7	2
Debt securities, number of issues | security	33	12
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract]
Debt securities, less than 12 months, fair value	$ 2,397	$ 2,638
Debt securities, greater than 12 months, fair value	1,370	29
Debt securities, fair value	3,767	2,667
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Debt securities, less than 12 months, unrealized losses	(239)	(45)
Debt securities, greater than 12 months, unrealized losses	(209)	0
Debt securities, total unrealized losses	$ (448)	$ (45)

Investments - Net Investment In

Investments - Net Investment Income and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net Investment Income [Line Items]
Investment income	$ 918	$ 626	$ 2,171	$ 1,884
Investment expenses	(58)	(112)	(240)	(335)
Net investment income	860	514	1,931	1,549
Debt securities
Net Investment Income [Line Items]
Investment income	636	562	1,814	1,716
Equity securities
Net Investment Income [Line Items]
Investment income	3	63	41	166
Cash, cash equivalents and short-term investments
Net Investment Income [Line Items]
Investment income	$ 279	$ 1	$ 316	$ 2

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, 2022	Sep. 30, 2021
Debt securities:
Gross realized gains	$ 2	$ 6	$ 29
Gross realized losses		(155)	(6)
Total debt securities	2	(149)	23
Equity securities:
Gross realized gains	55	375	4,063
Gross realized losses	(158)	(1,731)	(203)
Total equity securities	(103)	(1,356)	3,860
Total net realized investment gains (losses)	$ (101)	$ (1,505)	$ 3,883

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Investments Debt And Equity Securities [Abstract]
Proceeds from available-for-sale debt securities			$ 29,300,000	$ 25,600,000
Gross realized gains from sales of available-for-sale debt securities	$ 0	$ 0	5,000	27,000
Gross realized losses from sales of available-for-sale debt securities	0	0	155,000	6,000
Amount payable for securities purchased	0	43,000	0	43,000
Amount receivable for securities sold	0	$ 3,000	0	$ 3,000
Gross unrealized losses to equity investments			595,000		$ 1,000,000
Other than temporary impairments losses, investments			0
Investments	1,700,000		1,700,000		1,200,000
Deposits held in trust accounts	7,900,000		7,900,000		8,500,000
Deposits, held in trust for collateral requirements	$ 99,900,000		$ 99,900,000		$ 76,100,000

Investments - Available-for-s_3

Investments - Available-for-sale Fixed Maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Amortized Cost
Due in one year or less	$ 3,955
Due after one year through five years	28,544
Due after five years through ten years	23,584
Due after ten years	12,952
Securities with contractual maturities	69,035
Total debt securities	129,372	$ 150,732
Estimated Fair Value
Due in one year or less	3,886
Due after one year through five years	25,944
Due after five years through ten years	19,261
Due after ten years	9,663
Securities with contractual maturities	58,754
Total debt securities	111,847	149,783
Asset-backed securities
Amortized Cost
Total debt securities	22,896	28,652
Estimated Fair Value
Total debt securities	21,723	28,438
Mortgage-backed securities
Amortized Cost
Total debt securities	29,772	33,178
Estimated Fair Value
Total debt securities	24,330	32,521
Commercial mortgage-backed securities
Amortized Cost
Total debt securities	3,418	1,659
Estimated Fair Value
Total debt securities	3,237	1,690
Collateralized mortgage obligations
Amortized Cost
Total debt securities	4,251	5,649
Estimated Fair Value
Total debt securities	$ 3,803	$ 5,639

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Total debt securities	$ 111,847	$ 149,783
Equity Securities	947	9,437
Short-term investments	30,562	23,013
Total marketable investments measured at fair value	143,356	182,233
Total assets measured at fair value	143,721	182,727
Liabilities:
Total Liabilities measured at fair value	48,799	35,822
U.S. Government
Assets:
Total debt securities	7,463	20,720
State and local government
Assets:
Total debt securities	21,145	30,429
Corporate debt
Assets:
Total debt securities	30,146	30,346
Asset-backed securities
Assets:
Total debt securities	21,723	28,438
Mortgage-backed securities
Assets:
Total debt securities	24,330	32,521
Commercial mortgage-backed securities
Assets:
Total debt securities	3,237	1,690
Collateralized mortgage obligations
Assets:
Total debt securities	3,803	5,639
Senior Unsecured Notes
Liabilities:
Debt	23,113	24,118
Subordinated notes
Liabilities:
Debt	11,186	11,704
Partnership interest
Assets:
Investments measured at NAV	365	494
FHLB of Indianapolis
Liabilities:
Debt	14,500
Level 1
Assets:
Total debt securities	0	0
Equity Securities	190	9,154
Short-term investments	30,562	23,013
Total marketable investments measured at fair value	30,752	32,167
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 1 | FHLB of Indianapolis
Liabilities:
Debt	0
Level 2
Assets:
Total debt securities	111,847	149,783
Equity Securities	757	283
Short-term investments	0	0
Total marketable investments measured at fair value	112,604	150,066
Liabilities:
Total Liabilities measured at fair value	37,613	24,118
Level 2 | U.S. Government
Assets:
Total debt securities	7,463	20,720
Level 2 | State and local government
Assets:
Total debt securities	21,145	30,429
Level 2 | Corporate debt
Assets:
Total debt securities	30,146	30,346
Level 2 | Asset-backed securities
Assets:
Total debt securities	21,723	28,438
Level 2 | Mortgage-backed securities
Assets:
Total debt securities	24,330	32,521
Level 2 | Commercial mortgage-backed securities
Assets:
Total debt securities	3,237	1,690
Level 2 | Collateralized mortgage obligations
Assets:
Total debt securities	3,803	5,639
Level 2 | Senior Unsecured Notes
Liabilities:
Debt	23,113	24,118
Level 2 | Subordinated notes
Liabilities:
Debt	0	0
Level 2 | FHLB of Indianapolis
Liabilities:
Debt	14,500
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	11,186	11,704
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	11,186	$ 11,704
Level 3 | FHLB of Indianapolis
Liabilities:
Debt	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Assets measured at fair value	$ 143,721,000	$ 182,727,000
Liabilities measured at fair value	48,799,000	35,822,000
Fair Value, Nonrecurring
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Assets measured at fair value	0	0
Liabilities measured at fair value	$ 0	$ 0
Level 1
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Investment portfolio percentage	21.40%	17.60%
Liabilities measured at fair value	$ 0	$ 0
Level 2
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Investment portfolio percentage	78.40%	82.10%
Liabilities measured at fair value	$ 37,613,000	$ 24,118,000

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance at beginning of period	$ 10,747	$ 13,121	$ 12,267	$ 12,243
Deferred policy acquisition costs	5,966	7,663	15,635	22,187
Amortization of policy acquisition costs	(6,230)	(7,173)	(17,419)	(20,819)
Net change	(264)	490	(1,784)	1,368
Balance at end of period	$ 10,483	$ 13,611	$ 10,483	$ 13,611

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross reserves - beginning of period	$ 140,996	$ 117,852	$ 139,085	$ 111,270
Less: reinsurance recoverables on unpaid losses	(37,769)	(22,824)	(40,344)	(24,218)
Net reserves - beginning of period	103,227	95,028	98,741	87,052
Add: incurred losses and LAE, net of reinsurance:
Current period	13,541	12,513	38,765	37,813
Prior period	3,130	3,646	18,175	15,634
Total net incurred losses and LAE	16,671	16,159	56,940	53,447
Deduct: loss and LAE payments, net of reinsurance:
Current period	5,634	5,802	13,313	14,102
Prior period	11,456	8,587	39,560	29,599
Total net loss and LAE payments	17,090	14,389	52,873	43,701
Net reserves - end of period	102,808	96,798	102,808	96,798
Plus: reinsurance recoverables on unpaid losses	41,749	23,056	41,749	23,056
Gross reserves - end of period	$ 144,557	$ 119,854	$ 144,557	$ 119,854

Unpaid Losses and Loss Adjust_4

Unpaid Losses and Loss Adjustment Expenses - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Liability For Claims And Claims Adjustment Expense [Line Items]
Losses and loss adjustment expenses, net	$ 16,671,000	$ 16,159,000	$ 56,940,000	$ 53,447,000
Prior year adjustments	3,130,000	3,646,000	18,175,000	15,634,000
Winter Storm Uri
Liability For Claims And Claims Adjustment Expense [Line Items]
Losses and loss adjustment expenses, net		2,000,000
Commercial Lines1
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	2,700,000	3,400,000	17,700,000	14,700,000
Personal Lines
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	381,000	290,000	430,000	926,000
2019 Accident Year
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	2,300,000	1,000,000	14,300,000	3,400,000
2021 Accident Year
Liability For Claims And Claims Adjustment Expense [Line Items]
Prior year adjustments	1,800,000		1,700,000
2020 Accident Year
Liability For Claims And Claims Adjustment Expense [Line Items]
Losses and loss adjustment expenses, net	$ 958,000
Prior year adjustments			$ 2,200,000	2,400,000
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

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Effects Of Reinsurance [Line Items]
Ceded premium written		$ 9,395,000	$ 7,635,000	$ 34,490,000	$ 19,974,000
Ceded premiums earned		9,443,000	$ 6,829,000	27,458,000	$ 17,631,000
100% Cede of Commercial Liability Risks In Excess of $400,000
Effects Of Reinsurance [Line Items]
Amount retained (excess of)				340,000		$ 400,000
Ceded Commercial Property Risks In Excess of $300,000
Effects Of Reinsurance [Line Items]
Amount retained (excess of)				300,000
Ceded Commercial Property Risks In Excess of $200,000
Effects Of Reinsurance [Line Items]
Amount retained (excess of)						200,000
Ceded Homeowners Specific Risks In Excess of $300,000
Effects Of Reinsurance [Line Items]
Amount retained (excess of)				300,000		$ 300,000
Ceding Commission
Effects Of Reinsurance [Line Items]
Reinsurance retention policy, reinsured percentage	40%
Ceding Commission | Acquisition-related Costs
Effects Of Reinsurance [Line Items]
Ceded premium written	$ 0	$ 2,100,000		$ 6,400,000

Reinsurance - Effects of Reinsu

Reinsurance - Effects of Reinsurance and Assumption Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Written premiums:
Direct	$ 22,682	$ 24,239	$ 73,789	$ 73,825
Assumed	10,406	9,465	29,681	25,233
Ceded	(9,395)	(7,635)	(34,490)	(19,974)
Net written premiums	23,693	26,069	68,980	79,084
Earned premiums:
Direct	24,679	23,858	73,667	67,455
Assumed	9,722	7,912	27,280	22,790
Ceded	(9,443)	(6,829)	(27,458)	(17,631)
Net earned premiums	24,958	24,941	73,489	72,614
Losses and LAE:
Direct	15,837	14,511	46,375	50,628
Assumed	7,225	4,422	26,136	11,251
Ceded	(6,391)	(2,774)	(15,571)	(8,432)
Total net incurred losses and LAE	$ 16,671	$ 16,159	$ 56,940	$ 53,447

Debt - Narrative (Details)

Debt - Narrative (Details)						3 Months Ended		9 Months Ended
	Dec. 01, 2022 USD ($)	Aug. 10, 2022 USD ($)	Jul. 07, 2022 USD ($)	Apr. 24, 2020 USD ($)	Sep. 24, 2018 USD ($)	Sep. 30, 2022 USD ($) debt_instrument shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 USD ($) debt_instrument shares	Sep. 30, 2021 shares	Oct. 31, 2018 USD ($)
Debt Instrument [Line Items]
Number of debt instruments | debt_instrument						4		4
FHLB of Indianapolis
Debt Instrument [Line Items]
Federal home loan bank borrowings			$ 14,500,000
Federal home loan bank borrowings floating interest rate			3.45%
Federal Home Loan Bank, Borrowings maturity date			Jan. 09, 2023
Debt						$ 14,500,000		$ 14,500,000
Common stocks
Debt Instrument [Line Items]
Equity contribution received		$ 5,000,000
Federal Home Loan Bank Debt
Debt Instrument [Line Items]
Face amount of debt						14,500,000		14,500,000
Paycheck Protection Program
Debt Instrument [Line Items]
Debt				$ 2,700,000
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 was included in Other Gains on the Consolidated Statement of Operations in the third quarter of 2021.
Loan forgiven date				Jul. 08, 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	0
Debt issuance costs						$ 260,000		$ 260,000
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						823,000		$ 823,000
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						$ 0		$ 0
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, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt	$ 48,298	$ 33,564
Senior Unsecured Notes
Debt Instrument [Line Items]
Debt	24,121	23,926
Subordinated notes
Debt Instrument [Line Items]
Debt	9,677	$ 9,638
FHLB of Indianapolis
Debt Instrument [Line Items]
Debt	$ 14,500

Shareholder's Equity - Narrativ

Shareholder's Equity - Narrative (Details)		3 Months Ended		9 Months Ended
	Aug. 10, 2022 USD ($) $ / shares shares	Sep. 30, 2022 shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 USD ($) vote shares	Sep. 30, 2021 USD ($) shares	Dec. 31, 2021 shares
Equity Class Of Treasury Stock [Line Items]
Common stock, shares issued (in shares)		12,215,324		12,215,324		9,707,817
Common stock, shares outstanding (in shares)		12,215,324		12,215,324		9,707,817
Common stock voting rights, number of votes per share | vote				1
Restricted Stock Units (RSUs)
Equity Class Of Treasury Stock [Line Items]
Shares repurchased (in shares)		0	1,240	1,493	3,547
Shares repurchased | $			$ 4,000	$ 3,000	$ 11,000
Restricted stock units vested		0
Common stocks
Equity Class Of Treasury Stock [Line Items]
Common equity issued | $	$ 5,000,000
Common stock, shares issued (in shares)		12,215,324		12,215,324		9,707,817
Common stock, shares outstanding (in shares)		12,215,324		12,215,324		9,707,817
Private placement | Common stocks
Equity Class Of Treasury Stock [Line Items]
Common equity issued | $	$ 5,000,000
Common equity issued (in shares)	2,500,000
Offering price per share (in dollars per share) | $ / shares	$ 2

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 16,977	$ 43,884	$ 40,503	$ 44,413
Other comprehensive income (loss)	(4,347)	(614)	(16,711)	(2,185)
Balance at end of period	16,165	42,108	16,165	42,108
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(14,474)	(659)	(2,110)	912
Other comprehensive income (loss) before reclassifications, net of tax	(4,347)	(570)	(16,641)	(2,100)
Less: amounts reclassified from accumulated other comprehensive income (loss), net of tax		44	70	85
Other comprehensive income (loss)	(4,347)	(614)	(16,711)	(2,185)
Balance at end of period	$ (18,821)	$ (1,273)	$ (18,821)	$ (1,273)

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income (loss)		$ (1,523)	$ (1,209)	$ (12,792)	$ (293)
Weighted average common shares outstanding, basic	[1]	11,101,194	9,692,150	10,178,975	9,686,874
Weighted average common shares outstanding, diluted	[1]	11,101,194	9,692,150	10,178,975	9,686,874
Earnings (loss) per common share, basic		$ (0.14)	$ (0.12)	$ (1.26)	$ (0.03)
Earnings (loss) per common share, diluted		$ (0.14)	$ (0.12)	$ (1.26)	$ (0.03)
[1]The non-vested shares of the restricted stock units and stock options were anti-dilutive as of September 30, 2022 and 2021.  Therefore, the basic and diluted weighted average common shares are equal for the three months and nine months ended September 30, 2022 and 2021

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($)		6 Months Ended	9 Months Ended		12 Months Ended
	Mar. 08, 2022	Jun. 30, 2020	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2018	Dec. 31, 2016
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued to purchase shares of common stock	630,000	280,000
Vesting period	5 years	5 years
Strike price	$ 4.53	$ 3.81
Expiration date	Mar. 08, 2032	Jun. 30, 2030
Estimated value of options issued to purchase shares of common stock	$ 612,000	$ 290,000
Share-based compensation expense			$ 111,000	$ 39,000
Share-based compensation expense not yet recognized			$ 685,000
Share-based compensation nonvested shares			783,000
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
Shares granted in period					$ 404,000	$ 909,000
Share-based compensation expense			$ 43,000	$ 145,000
Share-based compensation expense not yet recognized			$ 30,000
Share-based compensation nonvested shares			10,000

Segment Information - Narrative

Segment Information - Narrative (Details) - business	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
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	56.20%	51.40%

Segment Information - Informati

Segment Information - Information by Reportable Operating Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Gross written premiums	$ 33,088	$ 33,704	$ 103,470	$ 99,058
Net written premiums	23,693	26,069	68,980	79,084
Net earned premiums	24,958	24,941	73,489	72,614
Other income	603	752	1,964	1,974
Segment revenue	25,561	25,693	75,453	74,588
Losses and loss adjustment expenses, net	16,671	16,159	56,940	53,447
Policy acquisition costs	6,230	7,173	17,419	20,819
Operating expenses	4,380	4,077	13,010	12,768
Segment expenses	27,281	27,409	87,369	87,034
Segment gain (loss)	(1,720)	(1,716)	(11,916)	(12,446)
Net investment income	860	514	1,931	1,549
Net realized investment gains (losses)		(101)	(1,505)	3,883
Change in fair value of equity securities	(151)	(2,169)	446	(3,234)
Other gains (losses)	66	2,778	60	11,688
Interest expense	(778)	(701)	(2,216)	(2,154)
Income (loss) before equity earnings in Affiliate and income taxes	(1,723)	(1,395)	(13,200)	(714)
Operating Segments | Commercial Lines1
Segment Reporting Information [Line Items]
Gross written premiums	27,635	29,849	88,297	88,017
Net written premiums	18,730	22,456	55,456	68,685
Net earned premiums	20,789	21,975	62,097	64,869
Other income	57	50	195	158
Segment revenue	20,846	22,025	62,292	65,027
Losses and loss adjustment expenses, net	13,348	14,697	49,864	48,592
Policy acquisition costs	4,950	6,458	13,717	19,102
Operating expenses	3,297	2,954	9,966	8,761
Segment expenses	21,595	24,109	73,547	76,455
Segment gain (loss)	(749)	(2,084)	(11,255)	(11,428)
Income (loss) before equity earnings in Affiliate and income taxes	(749)	(2,084)	(11,255)	(11,428)
Operating Segments | Personal Lines
Segment Reporting Information [Line Items]
Gross written premiums	5,453	3,855	15,173	11,041
Net written premiums	4,963	3,613	13,524	10,399
Net earned premiums	4,169	2,966	11,392	7,745
Other income	26	29	58	113
Segment revenue	4,195	2,995	11,450	7,858
Losses and loss adjustment expenses, net	3,323	1,462	7,076	4,855
Policy acquisition costs	1,214	838	3,530	2,178
Operating expenses	519	336	1,405	1,076
Segment expenses	5,056	2,636	12,011	8,109
Segment gain (loss)	(861)	359	(561)	(251)
Income (loss) before equity earnings in Affiliate and income taxes	(861)	359	(561)	(251)
Operating Segments | Total Underwriting
Segment Reporting Information [Line Items]
Gross written premiums	33,088	33,704	103,470	99,058
Net written premiums	23,693	26,069	68,980	79,084
Net earned premiums	24,958	24,941	73,489	72,614
Other income	83	79	253	271
Segment revenue	25,041	25,020	73,742	72,885
Losses and loss adjustment expenses, net	16,671	16,159	56,940	53,447
Policy acquisition costs	6,164	7,296	17,247	21,280
Operating expenses	3,816	3,290	11,371	9,837
Segment expenses	26,651	26,745	85,558	84,564
Segment gain (loss)	(1,610)	(1,725)	(11,816)	(11,679)
Income (loss) before equity earnings in Affiliate and income taxes	(1,610)	(1,725)	(11,816)	(11,679)
Operating Segments | Wholesale Agency
Segment Reporting Information [Line Items]
Other income	793	1,235	2,969	4,932
Segment revenue	793	1,235	2,969	4,932
Policy acquisition costs	498	778	2,026	3,147
Operating expenses	245	500	811	2,060
Segment expenses	743	1,278	2,837	5,207
Segment gain (loss)	50	(43)	132	(275)
Income (loss) before equity earnings in Affiliate and income taxes	50	(43)	132	(275)
Corporate
Segment Reporting Information [Line Items]
Other income	113	148	407	219
Segment revenue	113	148	407	219
Operating expenses	319	287	828	871
Segment expenses	319	287	828	871
Segment gain (loss)	(206)	(139)	(421)	(652)
Net investment income	860	514	1,931	1,549
Net realized investment gains (losses)		(101)	(1,505)	3,883
Change in fair value of equity securities	(151)	(2,169)	446	(3,234)
Other gains (losses)	66	2,778	60	11,688
Interest expense	(778)	(701)	(2,216)	(2,154)
Income (loss) before equity earnings in Affiliate and income taxes	(209)	182	(1,705)	11,080
Eliminations
Segment Reporting Information [Line Items]
Other income	(386)	(710)	(1,665)	(3,448)
Segment revenue	(386)	(710)	(1,665)	(3,448)
Policy acquisition costs	(432)	(901)	(1,854)	(3,608)
Segment expenses	(432)	(901)	(1,854)	(3,608)
Segment gain (loss)	46	191	189	160
Income (loss) before equity earnings in Affiliate and income taxes	$ 46	$ 191	$ 189	$ 160

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands				3 Months Ended			9 Months Ended
	Nov. 01, 2022	Oct. 14, 2022	Oct. 13, 2022	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Aggregate limit of paid losses					$ 2,489		$ 2,489			$ 1,347
Stated net reserves					102,808	$ 96,798	102,808	$ 96,798	$ 103,227	98,741	$ 95,028	$ 87,052
Loss corridor					16,671	16,159	56,940	53,447
Reinsurance recoverables on paid losses					2,489		2,489			1,347
Prior period					3,130	3,646	18,175	15,634
Stated net reserves retained					102,808	96,798	102,808	96,798	103,227	$ 98,741	$ 95,028	$ 87,052
2019 Accident Year
Subsequent Event [Line Items]
Prior period					$ 2,300	$ 1,000	$ 14,300	$ 3,400
Subsequent Event | Venture
Subsequent Event [Line Items]
Percentage of ownership interest purchased			50%
Payments to acquire interest in venture			$ 9,700
Ownership percentage			100%
Asset Purchase Agreement | Forecast | Whitetail Insurance Services L L C
Subsequent Event [Line Items]
Non-operating gains, net of taxes generated				$ 8,000
Asset Purchase Agreement | Subsequent Event | Whitetail Insurance Services L L C
Subsequent Event [Line Items]
Asset purchase agreement purchase price		$ 38,200
Effective date of acquisition		Oct. 01, 2022
Loss Portfolio Transfer (“LPT”) Reinsurance Agreement | Fleming Reinsurance Ltd
Subsequent Event [Line Items]
Stated net reserves									40,800
Stated net reserves retained									40,800
One-time risk fee retained									5,400
Loss Portfolio Transfer (“LPT”) Reinsurance Agreement | Fleming Reinsurance Ltd | 2019 Accident Year
Subsequent Event [Line Items]
Aggregate limit of paid losses									66,300
Stated net reserves									40,800
Reinsurance recoverables on paid losses									66,300
Stated net reserves retained									$ 40,800
Loss Portfolio Transfer (“LPT”) Reinsurance Agreement | Subsequent Event | Fleming Reinsurance Ltd
Subsequent Event [Line Items]
Loss corridor	$ 5,500
Reinsurance losses in excess retained	40,800
Loss Portfolio Transfer (“LPT”) Reinsurance Agreement | Subsequent Event | Fleming Reinsurance Ltd | 2019 Accident Year
Subsequent Event [Line Items]
Prior period	20,000
Loss Portfolio Transfer (“LPT”) Reinsurance Agreement | Subsequent Event | Fleming Reinsurance Ltd | Minimum
Subsequent Event [Line Items]
Aggregate limit of paid losses	46,300
Reinsurance recoverables on paid losses	46,300
Loss Portfolio Transfer (“LPT”) Reinsurance Agreement | Subsequent Event | Fleming Reinsurance Ltd | Maximum
Subsequent Event [Line Items]
Aggregate limit of paid losses	66,300
Reinsurance recoverables on paid losses	$ 66,300