Heritage Insurance (HRTG) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	Heritage Insurance Holdings, Inc.
Entity Central Index Key	0001598665
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,058,873
Entity File Number	001-36462
Entity Tax Identification Number	45-5338504
Entity Address, Address Line One	2600 McCormick Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Clearwater
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33759
City Area Code	727
Local Phone Number	362-7200
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of each class	Common Stock, par value $0.0001 per share
Trading Symbol(s)	HRTG
Name of each exchange on which registered	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost of $437,036 and $577,789)	$ 445,481	$ 587,256
Equity securities, at fair value, (cost $1,599 and $1,618)	1,599	1,618
Other investments	26,774	6,375
Total investments	473,854	595,249
Cash and cash equivalents	509,596	268,351
Restricted cash	5,437	14,657
Accrued investment income	2,637	4,377
Premiums receivable, net	70,038	63,685
Reinsurance recoverable on paid and unpaid claims, net of allowance for estimated uncollectible reinsurance of $54	424,157	428,903
Prepaid reinsurance premiums	307,997	224,102
Income taxes receivable	16,250	3,171
Deferred policy acquisition costs, net	86,140	77,211
Property and equipment, net	19,134	20,753
Intangibles, net	63,864	68,642
Goodwill	152,459	152,459
Other assets	16,827	18,110
Total Assets	2,148,390	1,939,670
LIABILITIES AND STOCKHOLDERS' EQUITY
Unpaid losses and loss adjustment expenses	662,997	613,533
Unearned premiums	552,627	486,220
Reinsurance payable	240,857	156,351
Long-term debt, net	122,589	129,248
Deferred income tax, net	12,448	12,623
Advance premiums	31,618	16,504
Accrued compensation	11,617	5,347
Accounts payable and other liabilities	70,497	71,045
Total Liabilities	1,705,250	1,490,871
Commitments and contingencies (Note 18)
Stockholders’ Equity:
Common stock, $0.0001 par value, 50,000,000 shares authorized, 28,058,873 shares issued and 27,748,606 shares outstanding at September 30, 2020; 28,996,452 shares issued and 28,650,918 shares outstanding at December 31, 2019	3	3
Additional paid-in capital	333,332	329,568
Accumulated other comprehensive income	6,525	7,330
Treasury stock, at cost, 9,279,839 and 8,349,483 shares, respectively	(115,365)	(105,368)
Retained earnings	218,645	217,266
Total Stockholders' Equity	443,140	448,799
Total Liabilities and Stockholders' Equity	$ 2,148,390	$ 1,939,670

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Fixed maturities, at amortized cost	$ 437,036,000	$ 577,789,000
Equity securities, cost	1,599,000	1,618,000
Reinsurance recoverable net of allowance for estimated uncollectible reinsurance	$ 54,100	$ 54,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	28,058,873	28,996,452
Common stock, shares outstanding	27,748,606	28,650,918
Treasury stock, shares	9,279,839	8,349,483

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
REVENUES:
Gross premiums written		$ 278,242	$ 237,303	$ 797,776	$ 702,491
Change in gross unearned premiums		(23,260)	(5,686)	(66,287)	(12,326)
Gross premiums earned		254,982	231,617	731,489	690,165
Ceded premiums		(116,752)	(107,755)	(338,197)	(342,529)
Net premiums earned		138,230	123,862	393,292	347,636
Net investment income		2,817	3,655	9,783	11,157
Net realized and unrealized gains		20,355	805	20,377	3,132
Other revenue		3,717	3,377	10,385	10,878
Total revenues		165,119	131,699	433,837	372,803
EXPENSES:
Losses and loss adjustment expenses		119,718	70,052	266,769	206,490
Policy acquisition costs, net of ceding commission income of $10.6 and $32.3	[1]	31,960	26,686	92,243	79,793
General and administrative expenses, net of ceding commission income of $3.5 and $10.6	[1]	17,923	21,477	59,583	58,465
Total expenses		169,601	118,215	418,595	344,748
Operating (loss) income		(4,482)	13,484	15,242	28,055
Interest expense, net		2,251	2,401	5,939	6,502
Other non-operating loss, net					48
(Loss) Income before income taxes		(6,733)	11,083	9,303	21,505
(Benefit) provision for income taxes		(1,500)	2,950	2,784	5,687
Net (loss) income		(5,233)	8,133	6,519	15,818
OTHER COMPREHENSIVE (LOSS) INCOME
Change in net unrealized gains on investments		2,480	4,429	19,330	19,533
Reclassification adjustment for net realized investment (gains) losses		(20,355)	(103)	(20,377)	291
Income tax (expense) benefit related to items of other comprehensive income		4,137	(1,035)	242	(4,747)
Total comprehensive (loss) income		$ (18,971)	$ 11,424	$ 5,714	$ 30,895
Weighted average shares outstanding
Basic		27,739,839	29,109,962	28,053,959	29,329,742
Diluted		27,739,839	29,168,392	28,073,570	29,352,756
(Loss) Earnings per share
Basic		$ (0.19)	$ 0.28	$ 0.23	$ 0.54
Diluted		$ (0.19)	$ 0.28	$ 0.23	$ 0.54
[1]	Parenthetical values are presented in millions for the three and nine months ended September 30, 2020

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Other Comprehensive Income (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Ceding commission income	$ 14,129	$ 42,950
Policy Acquisition Costs [Member]
Ceding commission income	10,600	32,300
General and Administrative Expenses [Member]
Ceding commission income	$ 3,500	$ 10,600

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Treasury Stock [Member]	Treasury Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Treasury Stock [Member]	Treasury Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Other Comprehensive Income [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Beginning Balance at Dec. 31, 2018	$ 425,333			$ 3		$ 325,292		$ 195,750			$ (89,185)		$ (6,527)
Beginning Balance, Shares at Dec. 31, 2018				29,477,756
Net unrealized change in investments, net of tax	5,963												5,963
Shares tendered for income taxes withholding	(118)					(118)
Shares tendered for income taxes withholding, Shares				(8,000)
Restricted stock vested and released, Shares				25,000
Stock-based compensation on restricted stock	1,345					1,345
Convertible Option debt extinguishment, net of tax	(1,840)					(1,840)
Stock issued on convertible note conversion	4,210					4,210
Stock issued on convertible note conversion, Shares				285,201
Stock buy-back	(5,011)										(5,011)
Stock buy-back, Shares				(347,740)
Tax rate change	48					48
Cash dividends declared	(1,807)							(1,807)
Net income	6,964							6,964
Ending balance at Mar. 31, 2019	435,087			$ 3		328,937		200,907			(94,196)		(564)
Beginning Balance, Shares at Mar. 31, 2019				29,432,217
Beginning Balance at Dec. 31, 2018	425,333			$ 3		325,292		195,750			(89,185)		(6,527)
Beginning Balance, Shares at Dec. 31, 2018				29,477,756
Net income	15,818
Ending balance at Sep. 30, 2019	445,230			$ 3		331,558		206,197			(101,078)		8,550
Beginning Balance, Shares at Sep. 30, 2019				28,963,841
Beginning Balance at Mar. 31, 2019	435,087			$ 3		328,937		200,907			(94,196)		(564)
Beginning Balance, Shares at Mar. 31, 2019				29,432,217
Net unrealized change in investments, net of tax	5,823												5,823
Stock-based compensation on restricted stock	1,344					1,344
Stock buy-back	(2,333)										(2,333)
Stock buy-back, Shares				(157,640)
Cash dividends declared	(1,792)							(1,792)
Net income	721							721
Ending balance at Jun. 30, 2019	438,850			$ 3		330,281		199,836			(96,529)		5,259
Beginning Balance, Shares at Jun. 30, 2019				29,274,577
Net unrealized change in investments, net of tax	3,291												3,291
Shares tendered for income taxes withholding	(68)					(68)
Shares tendered for income taxes withholding, Shares				(4,620)
Restricted stock vested and released, Shares				10,267
Stock-based compensation on restricted stock	1,345					1,345
Stock buy-back	(4,549)										(4,549)
Stock buy-back, Shares				(316,383)
Cash dividends declared	(1,772)							(1,772)
Net income	8,133							8,133
Ending balance at Sep. 30, 2019	445,230			$ 3		331,558		206,197			(101,078)		8,550
Beginning Balance, Shares at Sep. 30, 2019				28,963,841
Beginning Balance at Dec. 31, 2019	448,799	$ (34)	$ 448,765	$ 3	$ 3	329,568	$ 329,568	217,266	$ (34)	$ 217,232	(105,368)	$ (105,368)	7,330	$ 7,330
Beginning Balance, Shares at Dec. 31, 2019				28,650,918	28,650,918
Net unrealized change in investments, net of tax	1,512												1,512
Shares tendered for income taxes withholding	(233)					(233)
Shares tendered for income taxes withholding, Shares				(17,500)
Restricted stock vested and released, Shares				25,000
Stock-based compensation on restricted stock	1,345					1,345
Stock buy-back	(7,986)										(7,986)
Stock buy-back, Shares				(766,900)
Cash dividends declared	(1,726)							(1,726)
Net income	7,620							7,620
Ending balance at Mar. 31, 2020	449,297			$ 3		330,680		223,126			(113,354)		8,842
Beginning Balance, Shares at Mar. 31, 2020				27,891,518
Beginning Balance at Dec. 31, 2019	448,799	$ (34)	$ 448,765	$ 3	$ 3	329,568	$ 329,568	217,266	$ (34)	$ 217,232	(105,368)	$ (105,368)	7,330	$ 7,330
Beginning Balance, Shares at Dec. 31, 2019				28,650,918	28,650,918
Stock buy-back	$ (10,000)
Stock buy-back, Shares	(930,356)
Net income	$ 6,519
Ending balance at Sep. 30, 2020	443,140			$ 3		333,332		218,645			(115,365)		6,525
Beginning Balance, Shares at Sep. 30, 2020				27,748,606
Beginning Balance at Mar. 31, 2020	$ 449,297			$ 3		330,680		223,126			(113,354)		8,842
Beginning Balance, Shares at Mar. 31, 2020				27,891,518
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Net unrealized change in investments, net of tax	$ 11,421												11,421
Deferred tax adjustment for credit expected losses	(4)							(4)
Restricted stock vested and released, Shares				10,000
Stock-based compensation on restricted stock	1,357					1,357
Stock buy-back	(2,011)										(2,011)
Stock buy-back, Shares				(163,456)
Cash dividends declared	(1,693)							(1,693)
Net income	4,132							4,132
Ending balance at Jun. 30, 2020	462,499			$ 3		332,037		225,561			(115,365)		20,263
Beginning Balance, Shares at Jun. 30, 2020				27,738,062
Net unrealized change in investments, net of tax	(13,738)												(13,738)
Shares tendered for income taxes withholding	(64)					(64)
Shares tendered for income taxes withholding, Shares				(4,723)
Restricted stock vested and released, Shares				10,267
Issued restricted stock				5,000
Stock-based compensation on restricted stock	$ 1,359					1,359
Stock buy-back, Shares	0
Cash dividends declared	$ (1,683)							(1,683)
Net income	(5,233)							(5,233)
Ending balance at Sep. 30, 2020	$ 443,140			$ 3		$ 333,332		$ 218,645			$ (115,365)		$ 6,525
Beginning Balance, Shares at Sep. 30, 2020				27,748,606

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) (Unaudited) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Statement Of Stockholders Equity [Abstract]
Common stock, dividends, per share, declared	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
OPERATING ACTIVITIES
Net income	$ 6,519	$ 15,818
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation	4,061	4,034
Bond amortization and accretion	4,247	3,896
Operating lease asset amortization	71
Amortization of original issuance discount on debt	1,056	1,073
Depreciation and amortization	6,078	8,274
Net unrealized investment gains		(3,423)
Net loss from sale of asset	155
Net realized (gains)/losses	(20,377)	291
Net (gain)/loss from repurchase of debt		48
Deferred income taxes	67	185
Changes in operating assets and liabilities:
Accrued investment income	1,740	(197)
Premiums receivable, net	(6,353)	(1,115)
Prepaid reinsurance premiums	(83,895)	(37,574)
Reinsurance recoverable on paid and unpaid claims	4,703	43,814
Income taxes receivable	(13,079)	24,975
Deferred policy acquisition costs, net	(8,929)	(2,558)
Right of use leased asset	761
Other assets	451	(7,021)
Unpaid losses and loss adjustment expenses	49,464	(14,773)
Unearned premiums	66,407	12,492
Reinsurance payable	84,506	87,177
Accrued interest	787	176
Accrued compensation	6,270	(963)
Advance premiums	15,114	1,244
Income taxes payable		(8,196)
Other liabilities	(1,263)	(11,524)
Net cash provided by operating activities	118,561	116,153
INVESTING ACTIVITIES
Fixed maturity securities sales, maturities and paydowns	411,004	106,830
Fixed maturity securities purchases	(254,145)	(200,540)
Equity securities sales	25	26,521
Equity securities purchases	(6)	(4,583)
Limited partnership interest purchases	(20,400)	(24,006)
Proceeds from sale of assets	792	65
Cost of property and equipment acquired	(628)	(4,933)
Net cash provided by (used in) investing activities	136,642	(100,646)
FINANCING ACTIVITIES
Repayment of term note	(7,500)	(13,750)
Mortgage loan payments	(215)	(206)
Repurchase of convertible notes		(2,869)
Purchase of treasury stock	(9,997)	(11,893)
Tax withholdings on share-based compensation awards	(297)	(186)
Dividends paid	(5,169)	(5,188)
Net cash used in financing activities	(23,178)	(34,092)
Increase (decrease) in cash, cash equivalents, and restricted cash	232,025	(18,585)
Cash, cash equivalents and restricted cash, beginning of period	283,008	262,370
Cash, cash equivalents and restricted cash, end of period	515,033	243,785
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	16,252	13,849
Interest paid	$ 4,794	5,206
Issuance of shares on conversion of convertible notes		$ 4,210

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Statement Of Cash Flows [Abstract]
Cash and cash equivalents	$ 509,596	$ 268,351
Restricted cash	5,437	14,657
Total	$ 515,033	$ 283,008	$ 243,785	$ 262,370

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	NOTE 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The condensed consolidated financial statements include the accounts of Heritage Insurance Holdings, Inc. (together with its subsidiaries, the “Company” “we”, “us” or “our”). These statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain financial information that is normally included in annual consolidated financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. In the opinion of the Company’s management, all material intercompany transactions and balances have been eliminated and all adjustments consisting of normal recurring accruals which are necessary for a fair statement of the financial condition and results of operations for the interim periods have been reflected. The accompanying interim condensed consolidated financial statements and related footnotes should be read in conjunction with the Company’s audited consolidated financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”). Significant accounting policies The accounting policies of the Company are set forth in Note 1 to condensed consolidated financial statements contained in the Company’s 2019 Form 10-K. The following policies are new or revised disclosures or disclosures required on a quarterly basis. Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation. Recently Adopted Accounting Pronouncements Measurement of Credit Losses on Financial Instruments In 2016, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Update (“ASU”) Financial Instruments – Credit Losses ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments We adopted the standard on January 1, 2020, and based on the composition of our reinsurance recoverables, investment portfolio and other financial assets, current economic conditions and historical credit loss activity, the adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures. Fair Value Measurements In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement Internal Use Software In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU 2020-06 related to the measurement and disclosure requirements for convertible instruments and contracts in an entity’s own equity. The pronouncement simplifies and adds disclosure requirements for the accounting and measurement of convertible instruments and the settlement assessment for contracts in an entity’s in own equity. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021. The Company is currently evaluating the potential impact of this ASU on the condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting For information regarding other accounting standards that the Company has not yet adopted, refer to our 2019 Form 10-K, filed on March 10, 2020, the section of Note 1 of the notes to the consolidated financial statements entitled “Accounting Pronouncement Not Yet Adopted”.

Investments

Investments	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Investments	NOTE 2. INVESTMENTS Securities Available-for-Sale The following table summarizes the amortized cost and fair value of securities available-for-sale at September 30, 2020 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: September 30, 2020 Cost or Adjusted / Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 35,198 $ 744 $ 1 $ 35,941 States, municipalities and political subdivisions 54,084 876 13 54,947 Special revenue 188,933 3,093 43 191,983 Hybrid securities 99 — 1 98 Industrial and miscellaneous 158,722 3,846 56 162,512 Total $ 437,036 $ 8,559 $ 114 $ 445,481 (1) Includes securities at September 30, 2020 with a carrying amount of $23.5 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. The Company’s unrealized losses on corporate bonds have not been recognized because the bonds are of high credit quality with investment grade ratings of A- or higher, the Company does not intend to sell and it is unlikely the Company will be required to sell the securities prior to their anticipated recovery, and the decline in fair value is deemed due to changes in interest rates and other market conditions. The bond issuers continue to make timely principal and interest payments on the bonds. After taking into account these and other factors previously described, we believe these unrealized losses generally were caused by a decrease in market interest rates since the time the securities were purchased. The following table summarizes the amortized cost and fair value of securities available-for-sale at December 31, 2019 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: December 31, 2019 Cost or Adjusted / Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 53,836 $ 383 $ 28 $ 54,191 States, municipalities and political subdivisions 74,755 1,641 41 76,355 Special revenue 246,791 3,689 254 250,226 Hybrid securities 100 1 — 101 Industrial and miscellaneous 202,307 4,097 21 206,383 Total $ 577,789 $ 9,811 $ 344 $ 587,256 (1) Includes securities at December 31, 2019 with a carrying amount of $20.2 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. Proceeds received, and the gross realized gains and losses from sales of available-for-sale securities, for the three and nine months ended, September 30, 2020 and 2019 are as follows: Proceeds Gross Realized Gains Gross Realized Losses (In thousands) Three months ended September 30, 2020 $ 290,643 $ 20,360 $ 5 Three months ended September 30, 2019 $ 9,703 $ 108 $ — Proceeds Gross Realized Gains Gross Realized Losses (In thousands) Nine months ended September 30, 2020 $ 308,507 $ 20,492 $ 115 Nine months ended September 30, 2019 $ 49,395 $ 958 $ 76 The Company reviews credit losses and the valuation allowance for expected credit losses each quarter. When all or a portion of a debt security is identified as uncollectible and written off, the valuation allowance for expected credit losses is reduced by the same amount. In general, a security is considered uncollectible no later than when all efforts to collect contractual cash flows have been exhausted. The Company considers the following considerations when deeming a security uncollectible: • sufficient information was available to determine the issuer of the security is insolvent; • receipt of notice of filed bankruptcy, and the collectability is expected to be adversely impacted; • issuer has violated multiple debt covenants; • the extent to which the market value of the security has been below its cost or amortized costs; and • receipt of notice indicating that the issuer does not intend to pay the contractual principal and interest. For the nine months ended September 30, 2020, the Company sold no marketable equity securities nor did it hold any marketable equity securities as of that date. For the nine months ended months ended September 30, 2019, the Company received proceeds from the sale of its holdings in marketable equity securities of approximately $26.5 million. The sale resulted in a gross gain of $2.4 million and a gross loss of $1.2 million, related primarily to unrealized holding gains or losses in certain marketable equity securities. At September 30, 2019, the Company had unrealized net holding gains of $993,600 recognized on nonmarketable other investments still held. The table below summarizes the Company’s fixed maturity securities at September 30, 2020 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of those obligations. At September 30, 2020 Cost or Amortized Cost Percent of Total Fair Value Percent of Total Maturity dates: (In thousands) (In thousands) Due in one year or less $ 79,488 18 % $ 80,166 18 % Due after one year through five years 144,994 34 % 148,502 34 % Due after five years through ten years 92,611 21 % 94,701 21 % Due after ten years 119,943 27 % 122,112 27 % Total $ 437,036 100 % $ 445,481 100 % The following table summarizes the Company’s net investment income by major investment category for the three and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) (In thousands) Debt securities $ 2,170 $ 3,492 $ 8,567 $ 10,625 Equity securities — 22 — 944 Cash and cash equivalents 651 558 1,610 1,288 Other investments 221 324 486 258 Net investment income 3,042 4,396 10,663 13,115 Less: Investment expenses 225 741 880 1,958 Net investment income, less investment expenses $ 2,817 $ 3,655 $ 9,783 $ 11,157 The following tables summarizes debt securities available-for-sale in an unrealized loss position at September 30, 2020, aggregated by major security category and length of time in a continued unrealized loss position (in thousands): Less Than Twelve Months Twelve Months or More September 30, 2020 Number of Securities Gross Unrealized Losses Fair Value Number of Securities Gross Unrealized Losses Fair Value Debt Securities Available-for-sale U.S. government and agency securities 4 $ 1 $ 78 2 $ 0 $ 12 States, municipalities and political subdivisions 7 13 6,254 — — — Special revenue 19 40 9,185 11 3 99 Hybrid securities 1 1 99 — — — Industrial and miscellaneous 26 56 13,275 — — — Total fixed maturity securities 57 $ 111 $ 28,891 13 $ 3 $ 111 The Company evaluates expected credit losses for available-for-sale securities (“AFS”) when fair value is below amortized cost. AFS securities are evaluated for potential credit loss on an individual security level but the evaluation may use assumptions consistent with expectations of credit losses for a group of similar securities. If the Company has the intent to sell or will be required to sell the security before recovery, the entire impairment loss will be recorded through income to net realized gains and losses. If the Company does not have the intent to sell or will not be required to sell the security before recovery, an allowance for credit losses is established and the portion of loss that relates to credit losses is recorded in income to net realized and unrealized gains (losses) and the portion of the loss that relates to the non-credit loss is recorded in Other comprehensive income. At September 30, 2020, the Company did not intend to sell securities with an unrealized loss position in accumulated other comprehensive income, and it is not likely that it will be required to sell these securities before recovery of their amortized cost basis. Further, the Company did not believe it had a credit event and therefore did not record any credit allowance for securities that were in an unrealized loss position at September 30, 2020. The following tables summarizes debt securities available-for-sale in an unrealized loss position at December 31, 2019, aggregated by major security category and length of time in a continued unrealized loss position (in thousands): Less Than Twelve Months Twelve Months or More December 31, 2019 Number of Securities Gross Unrealized Losses Fair Number of Securities Gross Unrealized Losses Fair Value Debt Securities Available-for-sale U.S. government and agency securities 9 $ 10 $ 1,476 23 $ 18 $ 4,288 States, municipalities and political subdivisions 6 38 7,613 3 3 1,440 Special revenue 62 145 24,862 95 109 13,159 Industrial and miscellaneous 25 13 12,601 16 8 3,202 Total fixed maturity securities 102 $ 206 $ 46,552 137 $ 138 $ 22,089 Other Investments Non-consolidated Variable Interest Entities (“VIEs”) The Company makes passive investments in limited partnerships (“LPs”), Partnership Real Estate Investment Trusts (“REITs”) and Limited Liability Companies (“LLCs”), which are deemed to be VIEs. These investments are generally of a passive nature and the Company has determined it is not the primary beneficiary as it has no ability to direct activities that could significantly affect the economic performance of the investments. The Company has not provided financial or other support with respect to these investments other than its original investment. The Company’s maximum exposure to loss as of September 30, 2020 was limited to the amortized cost of $17.4 million for the Class A Preferred Units and the net asset value of $9.4 million for the REIT and LLCs investments, as described below, which are included in other invested assets in the Company’s condensed consolidated balance sheets. Classified in other investments, the Company has interest in LPs, REITs and LLCs totaling $9.4 million and $6.4 million at September 30, 2020 and December 31, 2019. The Company is not the primary beneficiary and does not consolidate these investments. These investments are carried at net asset value, which approximates fair value with changes in fair value recorded in net realized and unrealized gains (losses) on the Company’s consolidated statement of operations and other comprehensive income. Realized gains (losses) on sales of these investments are reported within net realized and unrealized gains (losses) on the Company’s condensed consolidated statement of operations and other comprehensive income . During the third quarter of 2020, the Company invested $9.9 million in Class A Preferred Units of a private limited liability company. The Company is entitled to a preferred return on its investments of 8% per annum, payable monthly and commencing on November 1, 2020, and return of capital in equal installments of $367,000 commencing on February 1, 2022 through April 1, 2024. In September 2020, the Company converted its secured promissory notes issued by the same private limited liability company originally issued in January 2020 in the aggregate amount of $7.5 million, into Class A Preferred Units. The Company is entitled to a preferred return on its investment of 8% per annum, payable monthly, and a return of capital in equal monthly installments of $150,000 commencing on June 1, 2021 and $225,000 commencing on June 1, 2022 through February 1, 2023. As of September 30, 2020, the Company has received in aggregate approximately $353,000 in interest income from the secured promissory notes prior to their conversion. The total of $17.4 million redeemable Class A Preferred Units, which is in the same private limited liability company, classified as held-to-maturity and recorded at amortized cost.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 3. FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is determined based on the exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We are required to use an established hierarchy for fair value measurements based upon the inputs to the valuation and degree to which they are observable or not observable in the market. The three levels in the hierarchy are as follows: • Level 1 – Inputs to the valuation based on quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date. • Level 2 – Inputs to the valuation include quoted prices in either markets that are not active, or in active markets for similar assets or liabilities, inputs other than quoted prices that are observable, and inputs that are derived principally from or corroborated by observable market data. • Level 3 – Inputs to the valuation that are unobservable inputs for the asset or liability. The highest priority is assigned Level 1 inputs and the lowest priority to Level 3 inputs. We did not hold any Level 3 assets or liabilities as of September 30, 2020 or December 31, 2019. The carrying value of premium receivables and accounts payable, accrued expense, revolving loans and borrowings under our senior secured credit facility approximate their fair value. The rate at which revolving loans and borrowings under our senior secured credit facility bear interest resets periodically at market interest rates. All of these items are considered Level 1 assets and liabilities. Investments excluded from the fair value hierarchy The Company has interests in LPs, REITs and LLCs. This investment categorization has the potential for higher returns but also the potential for higher degrees of risk, including less than stable rates of returns and may provide less liquidity. The Company maintains various interests in other markets of which are without a readily determinable fair value and are measured at amortized cost with adjustments for observable changes in price or impairments or at net asset value. The Company reviews these investments each reporting period to determine whether an impairment or observable price change for the investment has occurred. When such events or changes occur, the Company evaluates the fair value compared to its cost basis in the investment. Gains or losses from a change in fair value are included with other income (expense) in the Company’s condensed consolidated statement of income for the period. The table below presents the balances of our invested assets measured at fair value on a recurring basis: September 30, 2020 Total Level 1 Level 2 Level 3 Invested Assets: (in thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 35,941 $ 373 $ 35,568 $ — States, municipalities and political subdivisions 54,947 — 54,947 — Special revenue 191,983 — 191,983 — Hybrid securities 98 — 98 — Industrial and miscellaneous 162,512 — 162,512 — Total debt securities 445,481 373 445,108 — Investments reported at NAV (1) 10,973 — — — Other invested assets (2) 17,400 — — — Total investments $ 473,854 $ 373 $ 445,108 $ — (1) September 30, 2020 includes $1.6 million of Federal Home Loan Banks membership shares held by the Company. (2) Other invested assets consist of the redeemable Class A Preferred Units are classified as held-to-maturity and are recorded at amortized cost at September 30, 2020. December 31, 2019 Total Level 1 Level 2 Level 3 Invested Assets: (in thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 54,191 $ 366 $ 53,825 $ — States, municipalities and political subdivisions 76,355 — 76,355 — Special revenue 250,226 — 250,226 — Hybrid securities 101 — 101 — Industrial and miscellaneous 206,383 — 206,383 — Total debt securities 587,256 366 586,890 — Investments reported at NAV (1) 7,993 — — — Total investments $ 595,249 $ 366 $ 586,890 $ — (1) December 31, 2019 includes $1.6 million of Federal Home Loan Banks membership shares held by the Company. Non-recurring fair value measurements Assets and liabilities that are measured at fair value on a non-recurring basis include intangible assets and goodwill which are recognized at fair value during the period in which an acquisition is completed, from updated estimates and assumptions during the measurement period, or when they are considered to be impaired. These non-recurring fair value measurements, primarily for intangible assets acquired, were based on Level 3 unobservable inputs. For the quarters ended September 30, 2020 and 2019, these non-recurring fair value inputs consisted of brand, agent relationships, renewal rights, customer relations, trade names, non-compete and goodwill. To evaluate such assets for a potential impairment, we determine the fair value of the goodwill and intangible assets using a combination of a discounted cash flow approach and market approaches, which contain significant unobservable inputs and therefore are considered a Level 3 fair value measurement. The unobservable inputs in the analysis generally include future cash flow projections and a discount rate. There were no non-recurring fair value adjustments to intangible assets and goodwill during the first three quarters of 2020 and 2019. We record any measurement period adjustments to the fair value of assets acquired and liabilities assumed, with the corresponding offset to goodwill.

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Sep. 30, 2020
Comprehensive Income Net Of Tax [Abstract]
Other Comprehensive Income	NOTE 4. OTHER COMPREHENSIVE INCOME The following table is a summary of other comprehensive income (loss) and discloses the tax impact of each component of other comprehensive income for the three and nine months ended September 30, 2020 and 2019, respectively: For the Three Months Ended September 30, 2020 2019 Pre-tax Tax After-tax Pre-tax Tax After-tax (in thousands) Other comprehensive income Change in unrealized losses on investments, net $ 2,480 $ (574 ) $ 1,906 $ 4,429 $ (1,060 ) $ 3,369 Reclassification adjustment of realized losses (gains) included in net income (20,355 ) 4,711 (15,644 ) (103 ) 25 (78 ) Effect on other comprehensive income $ (17,875 ) $ 4,137 $ (13,738 ) $ 4,326 $ (1,035 ) $ 3,291 For the Nine Months Ended September 30, 2020 2019 Pre-tax Tax After-tax Pre-tax Tax After-tax (in thousands) Other comprehensive income Change in unrealized losses on investments, net $ 19,330 $ (4,471 ) $ 14,859 $ 19,533 $ (4,677 ) $ 14,856 Reclassification adjustment of realized losses (gains) included in net income (20,377 ) 4,713 (15,664 ) 291 (70 ) 221 Effect on other comprehensive income $ (1,047 ) $ 242 $ (805 ) $ 19,824 $ (4,747 ) $ 15,077

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	NOTE 5. LEASES The Company has entered into operating and financing leases primarily for real estate and vehicles. The Company will determine whether an arrangement is a lease at inception of the agreement. The operating leases have terms of one to ten years, and often include one or more options to renew. These renewal terms can extend the lease term from two to ten years, and are included in the lease term when it is reasonably certain that the Company will exercise the option. The Company considers these options in determining the lease term used in establishing our right-of-use assets and lease obligations. The Company lease agreements do not contain any material residual value guarantees or material restrictive covenants. Because the rate implicit in each operating lease is not readily determinable, the Company uses its incremental borrowing rate to determine present value of the lease payments. The Company used the implicit rates within the finance leases. Components of the Company’s lease costs for the three and nine months ended September 30, 2020 and 2019 are as follows (in thousands): For the Three Months Ended September 30, 2020 2019 Amortization of ROU assets - Finance leases $ 21 $ 19 Interest on lease liabilities - Finance leases 5 6 Variable lease cost (cost excluded from lease payments) 128 113 Operating lease cost (cost resulting from lease payments) 340 331 Total lease cost $ 494 $ 469 For the Nine Months Ended September 30, 2020 2019 Amortization of ROU assets - Finance leases $ 64 $ 58 Interest on lease liabilities - Finance leases 16 17 Variable lease cost (cost excluded from lease payments) 391 337 Operating lease cost (cost resulting from lease payments) 1,023 918 Total lease cost $ 1,494 $ 1,330 Supplemental cash flow information and non-cash activity related to our operating and financing leases as of September 30, 2020 and 2019 are as follows (in thousands): September 30, 2020 September 30, 2019 Finance lease - Operating cash flows $ 16 $ 20 Finance lease - Financing cash flows $ 55 $ 66 Operating lease - Operating cash flows (fixed payments) $ 1,080 $ 613 Operating lease - Operating cash flows (liability reduction) $ 761 $ 465 Supplemental balance sheet information related to our operating and financing leases as of September 30, 2020 are as follows (in thousands): Balance Sheet Classification September 30, 2020 Right-of-use assets - operating Other assets $ 6,192 Right-of-use assets - finance Other assets $ 237 Lease Liability (1) Accounts payable and other liabilities $ (7,880 ) Lease Liability - finance Accounts payable and other liabilities $ (270 ) (1) Includes $1.3 million in lease incentives received in the first quarter of 2019. Weighted-average remaining lease term and discount rate for our operating and financing leases as of September 30, 2020 are as follows: September 30, 2020 Weighted average lease term - Finance leases 2.93 yrs. Weighted average lease term - Operating leases 7.18 yrs. Weighted average discount rate - Finance leases 7.1 % Weighted average discount rate - Operating leases 5.3 % Maturities of lease liabilities by fiscal year for our operating and financing leases as of September 30, 2020 are as follows (in thousands): September 30, 2020 2020 remaining $ 396 2021 1,574 2022 1,580 2023 1,487 2024 1,112 Thereafter 3,694 Total lease payments 9,843 Less: imputed interest (1,693 ) Present value of lease liabilities $ 8,150

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Property and Equipment, Net	NOTE 6. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following at September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (In thousands) Land $ 2,582 $ 2,582 Building 10,301 11,390 Computer hardware and software 6,231 5,712 Office furniture and equipment 2,027 2,007 Tenant and leasehold improvements 8,132 8,105 Vehicle fleet 850 789 Total, at cost 30,123 30,585 Less: accumulated depreciation and amortization (10,989 ) (9,832 ) Property and equipment, net $ 19,134 $ 20,753 Depreciation and amortization expense for property and equipment was $442,000 and $649,000 for the three months ended September 30, 2020 and 2019, respectively and $1.3 million and $1.9 million for the nine months ended September 30, 2020 and 2019, respectively. The Company’s real estate consists of 15 acres of land and four buildings with a gross area of 191,200 square feet and a parking garage. During the third quarter of 2020, the Company sold a northeast property that had a net book value of approximately $950,000.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and Intangible Assets At September 30, 2020 and December 31, 2019 goodwill was $152.5 million and intangible assets were $63.9 million and $68.6 million, respectively. The Company has determined the useful life of the other intangible assets to range between 2.5-15 years. The Company has recorded $1.3 million relating to insurance licenses and has classified the licenses as an indefinite lived intangible asset which is subject to annual impairment testing concurrent with goodwill. Goodwill (in thousands) Balance as of December 31, 2019 $ 152,459 Goodwill acquired — Impairment — Balance as of September 30, 2020 $ 152,459 Our annual goodwill impairment analysis was performed as of October 1, 2019. Management had determined that an impairment review was appropriate for the first quarter of 2020 given the potential impact of the COVID-19 pandemic. We qualitatively assessed whether it was more likely than not that the goodwill and indefinite-lived assets were impaired as of March 31, 2020 and management concluded there was no impairment. For the third quarter of 2020 there has been no change in the Company’s qualitative assessment results for its goodwill assessment, and based on that assessment management determined that our goodwill and indefinite-lived assets are not impaired for the period ended September 30, 2020. Other Intangible Assets Our intangible assets consist of brand, agent relationships, renewal rights, customer relations, trade names, non-competes and insurance licenses. Finite-lived intangibles assets are amortized over their useful lives from 2.5 to fifteen years. Amortization expense of our intangible assets was $1.6 million and $2.1 million for the three months ended September 30, 2020 and 2019, respectively, and $4.8 million and $6.3 million for the nine months ended September 30, 2020 and 2019, respectively. No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the three months ended September 30, 2020 or 2019. Estimated annual pretax amortization of intangible assets for each of the next five years and thereafter is as follows (in thousands): Year Amount (1) 2020 - remaining $ 1,586 2021 $ 6,351 2022 $ 6,351 2023 $ 6,351 2024 $ 6,351 Thereafter $ 35,559 Total $ 62,549 (1) Excludes insurance licenses valued at $1.3 million and classified as an indefinite lived intangible which is subject to annual impairment testing and not amortized.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2020
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets	NOTE 8. OTHER ASSETS The following table summarizes the Company’s other assets for the periods indicated: Description September 30, 2020 December 31, 2019 (In thousands) Other amounts receivable 1,543 1,185 State underwriting pooling & assoc. 4,618 3,165 Prepaid expense 3,729 3,999 Right to use assets 6,429 6,645 Other assets 308 1,328 Premium tax 200 1,788 Total other assets $ 16,827 $ 18,110

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 9. EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Basic earnings (loss) per share: Net income (loss) attributable to common stockholders (000's) $ (5,233 ) $ 8,133 $ 6,519 $ 15,818 Weighted average shares outstanding 27,739,839 29,109,962 28,053,959 29,329,742 Basic earnings (loss) per share: $ (0.19 ) $ 0.28 $ 0.23 $ 0.54 Diluted earnings (loss) per share: Net income (loss) attributable to common stockholders (000's) $ (5,233 ) $ 8,133 $ 6,519 $ 15,818 Weighted average shares outstanding 27,739,839 29,109,962 28,053,959 29,329,742 Weighted average dilutive shares — 58,430 19,611 23,014 Total weighted average dilutive shares 27,739,839 29,168,392 28,073,570 29,352,756 Diluted earnings (loss) per share: $ (0.19 ) $ 0.28 $ 0.23 $ 0.54 Due to the net loss for the three months ended September 30, 2020, the number of dilutive shares is the same as the number of basic shares due to the antidilutive impact of the convertible debt and restricted stock under the if-converted method. The Company had 1,819,503 and 2,139,770 antidilutive shares as of September 30, 2020 and 2019, respectively.

Deferred Reinsurance Ceding Com

Deferred Reinsurance Ceding Commission	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Deferred Reinsurance Ceding Commission	NOTE 10. DEFERRED REINSURANCE CEDING COMMISSION The Company defers reinsurance ceding commission income, which is amortized over the effective period of the related insurance policies. For the quarter ended September 30, 2020 and 2019, the Company allocated ceding commission income of $10.6 million and $11.3 million to policy acquisition costs and $3.5 million and $3.7 million to general and administrative expense, respectively. For the nine months ended September 30, 2020 and 2019, the Company allocated ceding commission income of $32.3 million and $36.8 million to policy acquisition costs and $10.6 million and $12.0 million to general and administrative expense, respectively. The table below depicts the activity with regard to deferred reinsurance ceding commission during the three and nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Beginning balance of deferred ceding commission income $ 34,562 $ 34,705 $ 37,464 $ 44,996 Ceding commission deferred 17,294 15,542 43,213 39,017 Less: ceding commission earned (14,129 ) (15,062 ) (42,950 ) (48,828 ) Ending balance of deferred ceding commission income $ 37,727 $ 35,185 $ 37,727 $ 35,185

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Deferred Policy Acquisition Costs	NOTE 11. DEFERRED POLICY ACQUISITION COSTS The Company incurs incremental policy acquisition costs that vary with, and are directly related to, the production of new business. Policy acquisition costs consist of the following four items: (i) commissions paid to outside agents at the time of policy issuance; (ii) policy administration fees paid to a third-party administrator at the time of policy issuance; (iii) premium taxes; and (iv) inspection fees. The Company capitalizes incremental policy acquisition costs that are directly related to the successful efforts of acquiring new or renewed insurance contracts to the extent recoverable, then the Company amortizes those costs over the contract period of the related policy. The Company defers the incurred incremental policy acquisition costs, commonly referred to as deferred policy acquisition costs (“DPAC”), which are amortized over the effective period of the related insurance policies. The Company anticipates that its DPAC costs will be fully recoverable in the near term. The table below depicts the activity with regard to DPAC during the three and nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Beginning Balance $ 81,590 $ 74,064 $ 77,211 $ 73,055 Policy acquisition costs deferred 42,096 26,856 128,400 100,757 Amortization (37,546 ) (25,307 ) (119,471 ) (98,199 ) Ending Balance $ 86,140 $ 75,613 $ 86,140 $ 75,613

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12. INCOME TAXES For the three months ended September 30, 2020 and 2019, the Company recorded an income tax benefit of $1.5 million and income tax expense of $3.0 million, respectively, which corresponds to effective tax rates of 22.3% and 26.6%, respectively. For the nine months ended September 30, 2020 and 2019, the Company recorded $2.8 million and $5.7 million, respectively, of income tax expense which corresponds to effective tax rates of 29.9% and 26.4%, respectively. Effective tax rates are dependent upon components of pre-tax earnings and the related tax effects. The effective tax rates for calendar years 2020 and 2019 were affected by various permanent tax differences, predominately disallowed executive compensation deductions which were further limited in 2018 and future years upon the enactment of H.R.1, commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”). Additionally, the state effective income tax rate fluctuated as a result of changes in the geographic dispersion of our business and a state income tax refund received in the second quarter, which impacted the effective tax rate on a year-to-date basis. The effective tax rate can fluctuate throughout the year as estimates used in the tax provision for each quarter are updated as more information becomes available throughout the year. The table below summarizes the significant components of our net deferred tax liability for the periods indicated: September 30, 2020 December 31, 2019 Deferred tax assets: (In thousands) Unearned premiums $ 12,018 $ 12,585 Unearned commission 8,732 8,671 Tax-related discount on loss reserve 3,028 2,716 Stock-based compensation 861 297 Accrued expenses 1,725 757 Leases 330 331 Other 1,923 1,890 Total deferred tax asset 28,617 27,247 Deferred tax liabilities: Deferred acquisition costs 19,938 17,871 Prepaid expenses 279 153 Unrealized gains 1,953 2,195 Property and equipment 1,062 1,029 Note discount 365 478 Basis in purchased investments 60 100 Basis in purchased intangibles 15,939 16,977 Other 1,469 1,067 Total deferred tax liabilities 41,065 39,870 Net deferred tax liability $ (12,448 ) $ (12,623 ) In April 2019, the Company was notified by the tax authority that the federal income tax returns for the years 2015, 2016 and 2017 would be examined. In August 2020, the Company received a notice from the tax authority for the examined tax years , reporting that t he returns have been accepted as filed. No further action will be required and no other tax years are under examination. At September 30, 2020 and December 31, 2019, we had no significant uncertain tax positions or unrecognized tax benefits that, if recognized, would impact the effective income tax rate. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted on March 27, 2020 in the United States. The CARES Act and related notices include several significant provisions, including delaying certain payroll tax payments, mandatory transition tax payments under the TCJ Act, and estimated income tax payments that we are deferring to future periods. We do not currently expect the CARES Act to have a material impact on our financial results, including on our annual estimated effective tax rate or on our liquidity. We will continue to monitor and assess the impact the CARES Act and similar legislation may have on our business and financial results.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Reinsurance	NOTE 13. REINSURANCE Overview The Company’s reinsurance program is designed, utilizing the Company’s risk management methodology, to address its exposure to catastrophes or large non-catastrophic losses. The Company’s program provides reinsurance protection for catastrophes including hurricanes, tropical storms, tornadoes and winter storms. The Company’s reinsurance agreements are part of its catastrophe management strategy, which is intended to provide its stockholders an acceptable return on the risks assumed in its property business, and to reduce variability of earnings, while providing protection to the Company’s policyholders. In order to limit our potential exposure to catastrophic events, we purchase significant reinsurance from third party reinsurers. The catastrophe reinsurance may be on an excess of loss or quota share basis. We also purchase reinsurance for non-catastrophe losses on a quota share, per risk or facultative basis. Purchasing a sufficient amount of reinsurance to cover catastrophic losses from single or multiple events or significant non-catastrophe losses is an important part of our risk strategy, and premiums ceded to reinsurers is one of our largest costs. Reinsurance involves transferring, or “ceding”, a portion of the risk exposure on policies we write to another insurer, known as a reinsurer. To the extent that our reinsurers are unable to meet the obligations they assume under our reinsurance agreements, we remain liable for the entire insured loss. Our reinsurance agreements are prospective contracts. We record an asset, prepaid reinsurance premiums, and a liability, reinsurance payable, for the entire contract amount upon commencement of our new reinsurance agreements. We amortize our catastrophe reinsurance premiums over the 12-month contract period, which generally begins on June 1, on a straight-line basis. Our quota share reinsurance is amortized over the 12-month contract period and is currently on a calendar basis. In the event that we incur losses and loss adjustment expenses recoverable under our reinsurance program, we record amounts recoverable from our reinsurers on paid losses plus an estimate of amounts recoverable on unpaid losses. The estimate of amounts recoverable on unpaid losses is a function of our liability for unpaid losses associated with the reinsured policies; therefore, the amount changes in conjunction with any changes to our estimate of unpaid losses. As a result, a reasonable possibility exists that an estimated recovery may change significantly in the near term from the amounts included in our consolidated financial statements. Our insurance regulators and rating agency require all insurance companies, like us, to have a certain amount of capital and reinsurance coverage in order to cover losses and loss adjustment expenses upon the occurrence of a catastrophic event. Our 2020-2021 reinsurance program provides reinsurance in excess of our state regulator and rating agency requirements. The nature, severity and location of the event giving rise to such a probable maximum loss differs for each insurer depending on the insurer’s portfolio of insured risks, including, among other things, the geographic concentration of insured value within such portfolio. As a result, a particular catastrophic event could be a one-in-100-year loss event for one insurance company while having a greater or lesser probability of occurrence for another insurance company. We also purchase reinsurance coverage to protect against the potential for multiple catastrophic events occurring in the same year. We share portions of our reinsurance program coverage among our insurance company affiliates. Catastrophe Excess of Loss Reinsurance Effective June 1, 2020, we entered into catastrophe excess of loss reinsurance agreements covering Heritage Property & Casualty Insurance Company (“Heritage P&C”), Zephyr Insurance Company (“Zephyr”) and Narragansett Bay Insurance Company (“NBIC”). The catastrophe reinsurance programs are allocated amongst traditional reinsurers, the Florida Hurricane Catastrophe Fund (“FHCF”) and Osprey Re Ltd (“Osprey”), our captive reinsurer. The FHCF covers Florida risks only and we elected to participate at 90%. Our third-party reinsurers are either rated “A-” or higher by A.M. Best or S&P or are fully collateralized, to reduce credit risk. The reinsurance program, which is segmented into layers of coverage, protects the Company for excess property catastrophe losses and loss adjustment expenses. The 2020-2021 reinsurance program provides first event coverage up to $1.35 billion for Heritage P&C, first event coverage up to $965.0 million for NBIC, and first event coverage up to $690.0 million for Zephyr. Our first event retention in a 1 in 100 year event would include retention for the respective insurance company as well as any retention by Osprey. The first event maximum retention up to a 1 in 100 year event for each insurance company subsidiary is as follows: Heritage P&C – $ 20.0 million; Zephyr – $ 20.0 million; NBIC – $ million. In a 1 to 100 year event and including Osprey’s retention , the range of loss depending upon the geographic region affected would be between an additional $ 22.1 million to $ 41.8 million above the amounts noted for the insurance company retentions. The majority of our program was placed on a cascading basis which provides greater horizontal protection in a multiple small events scenario and features additional coverage enhancements. We are responsible for all losses and loss adjustment expenses in excess of our reinsurance program. For second or subsequent catastrophic events, our total available coverage depends on the magnitude of the first event, as we may have coverage remaining from layers that were not previously fully exhausted. An aggregate of $2.6 billion of limit purchased in 2020 includes reinstatement through the purchase of reinstatement premium protection. In total, we have purchased $2.6 billion of potential reinsurance coverage, including our retention, for multiple catastrophic events. The amount of coverage, however, will be subject to the severity and frequency of such events. The Company's estimated net cost for the 2020-2021 catastrophe reinsurance programs is approximately $272.1 million. Gross Quota Share Reinsurance NBIC did not enter into a gross quota share reinsurance program for the contract term beginning June 1, 2019, nor was a gross quota share reinsurance program entered into in 2020. For the 2018 contract term, NBIC purchased an 8% gross quota share reinsurance treaty effective June 1, 2018 through May 31, 2019 which provided ground up loss recoveries of up to $1.0 billion. Net Quota Share Reinsurance Our Net Quota Share coverage is proportional reinsurance, which applies to business underwritten by NBIC, for which certain of our other reinsurance (property catastrophe excess of loss and the second layer of the general excess of loss) inures to the quota share program. An occurrence limit of $20.0 million for catastrophe losses is in effect on the quota share program, subject to certain aggregate loss limits that vary by reinsurer. The amount and rate of ceding commissions slide, within a prescribed minimum and maximum, depending on loss performance. The Net Quota Share program was renewed on December 31, 2019 ceding 56% of the net premiums and losses and 5% of the prior year quota share is in run off. Aggregate Coverage $976.0 million of limit is structured on an aggregate basis (Top and Aggregate, Layer 1, Layer 2, Layer 3, Layer 4, Multi-Zonal and northeast only). To the extent that this coverage is not fully exhausted in the first catastrophic event, it provides coverage commencing at its reduced retention for second and subsequent events where underlying coverage has been previously exhausted. The Company purchased reinstatement premium protection for $621.0 million of this coverage, which can be reinstated one time. Layers (with exception to FHCF) are “net” of a $40.0 million attachment point. Layers inure to the subsequent layers if the aggregate limit of the preceding layer(s) is exhausted, and a portion of the subsequent layer cascades down in its place. Additionally, for business underwritten by NBIC, we placed 42.5% of an aggregate contract to cover, all catastrophe losses excluding named storms from December 1, 2019 to March 31, 2020. The limit on the contract was $20.0 million, with a retention of $20.0 million and franchise deductible of $1.0 million. This program was not replaced. We placed 100% of an occurrence contract for our business underwritten by NBIC which covers all catastrophe losses excluding named storms, on December 31, 2019, expiring December 31, 2020. The limit on the contract is $20.0 million with a retention of $20.0 million and has one reinstatement available. Per Risk Coverage For losses arising from business underwritten by Heritage P&C and losses arising from commercial residential business underwritten by NBIC, excluding losses from named storms, the Company purchased property per risk coverage for losses and loss adjustment expenses in excess of $1.0 million per claim. The limit recovered for an individual loss is $9.0 million and total limit for all losses is $27.0 million. There are two reinstatements available with additional premium due based on the amount of the layer exhausted. For losses arising from commercial residential business underwritten by NBIC, the Company purchased property per risk coverage for losses and loss adjustments expenses in excess of $750,000 per claim. The limit recovered for an individual loss is $250,000 and total limit for all losses is $750,000. There are two reinstatements available with additional premium due based on the amount of the layer exhausted. In addition, the Company purchased facultative reinsurance for losses in excess of $10.0 million for any properties it insured where the total insured value exceeded $10.0 million. This coverage applies to losses arising from business underwritten by Heritage P&C and losses arising commercial residential business underwritten by NBIC, excluding losses from named storms. General Excess of Loss Our general excess of loss reinsurance protects business underwritten by NBIC and Zephyr multi-peril policies from single risk losses. For the contract period of July 1, 2020 through June 30, 2021, the coverage is in two layers in excess of our retention of the first $500,000 of loss. The first layer is $250,000 excess $500,000 for property and casualty losses and the second layer for property losses is $2.75 million excess $750,000. The second layer for casualty losses is $1.25 million excess $750,000. For the contract period of July 1, 2019 through June 30, 2020, the coverage is in two layers in excess of our retention of the first $400,000 of loss. The first layer is $350,000 excess $400,000 for property and casualty losses and the second layer for property losses is $2.75 million excess $750,000. The second layer for casualty losses is $1.25 million excess $750,000. In addition, we purchased facultative reinsurance for losses underwritten by NBIC in excess of $3.5 million. Effect of Reinsurance The Company’s reinsurance arrangements had the following effect on certain items in the condensed consolidated statement of income for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) (In thousands) Premium written: Direct $ 278,242 $ 237,303 $ 797,776 $ 702,491 Ceded (63,493 ) (46,858 ) (422,092 ) (406,300 ) Net $ 214,749 $ 190,445 $ 375,684 $ 296,191 Premiums earned: Direct $ 254,982 $ 231,617 $ 731,489 $ 690,165 Ceded (116,752 ) (107,755 ) (338,197 ) (342,529 ) Net $ 138,230 $ 123,862 $ 393,292 $ 347,636 Loss and Loss Adjustment Expenses Direct $ 205,337 $ 108,788 $ 452,014 $ 383,354 Ceded (85,619 ) (38,736 ) (185,245 ) (176,864 ) Net $ 119,718 $ 70,052 $ 266,769 $ 206,490 The Company adopted the ASU 2016-13, Topic 326-20 on January 1, 2020, and based on the composition of its reinsurance recoverables, current economic conditions and historical credit loss activity, the adoption of this standard did not have a material impact on its condensed consolidated financial statements and related disclosures. While the adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements, it required changes to the Company’s process to establish an estimated expected credit losses on reinsurance recoverables and premium receivables. The allowance for the estimated uncollectible reinsurance, at September 30, 2020 and January 1, 2020 was $54,100 and $49,300, respectively.

Reserve For Unpaid Losses And A

Reserve For Unpaid Losses And Adjustment Expenses	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Reserve for Unpaid Losses And Loss Adjustment Expenses	NOTE 14. RESERVE FOR UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES The Company determines the reserve for unpaid losses and loss adjustment expenses (“LAE”) on an individual-case basis for all incidents reported. The liability also includes amounts which are commonly referred to as incurred but not reported, or “IBNR”, claims as of the balance sheet date. The table below summarizes the activity related to the Company’s reserve for unpaid losses and LAE: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Balance, beginning of period $ 620,718 $ 430,413 $ 613,533 $ 432,359 Less: reinsurance recoverable on unpaid losses 404,370 223,023 393,630 250,506 Net balance, beginning of period 216,348 207,390 219,903 181,853 Incurred related to: Current year 125,544 70,448 281,698 208,796 Prior years (5,826 ) (396 ) (14,929 ) (2,306 ) Total incurred 119,718 70,052 266,769 206,490 Paid related to: Current year 71,955 50,920 148,563 94,075 Prior years 18,371 17,820 92,369 85,566 Total paid 90,326 68,740 240,932 179,641 Net balance, end of period 245,740 208,702 245,740 208,702 Plus: reinsurance recoverable on unpaid losses 417,257 208,884 417,257 208,884 Balance, end of period $ 662,997 $ 417,586 $ 662,997 $ 417,586 As of September 30, 2020, the Company reported $245.7 million in unpaid losses and loss adjustment expenses, net of reinsurance which included $185.5 million attributable to IBNR net of reinsurance recoverable, or 75.5% of net reserves for unpaid losses and loss adjustment expenses.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 15. LONG-TERM DEBT Convertible Senior Notes In August 2017 and September 2017, the Company issued in aggregate $136.8 million of 5.875% Convertible Senior Notes (“Convertible Notes”) maturing on August 1, 2037, unless earlier repurchased, redeemed or converted. Interest is payable semi-annually in arrears, on February 1, and August 1 of each year, commencing in 2018. As of September 30, 2020, the Company had $21.9 million of the Convertible Notes outstanding, net of issuance and debt discount costs in aggregate of approximately, $1.5 million. For the nine months ended September 30, 2020 and 2019, the Company made in aggregate interest payments of approximately $1.4 million and $1.5 million respectively on the Convertible Notes. Debt Extinguishment On February 19, 2019, the Company reacquired $5.8 million of its outstanding Convertible Notes for approximately $2.9 million, which was paid in cash and the issuance of 285,201 shares of the Company’s common stock valued at $4.2 million. The repurchase resulted in a $48,000 non-operating loss. Senior Secured Credit Facility In December 2018, the Company entered into a five-year Term Loan Facility: The principal amount of the Term Loan Facility amortizes in quarterly installments, beginning with the close of the fiscal quarter ending March 31, 2019, in an amount equal to $1.9 million per quarter, with the remaining balance payable at maturity. As of December 31, 2019, there was $69.4 million in aggregate principal outstanding on the Term Loan Facility. The December 31, 2019 quarterly principal payment in the amount of $1.9 million was processed by the lender on January 2, 2020. As of September 30, 2020, the balance of the term loan was $61.9 million. For the nine months ended September 30, 2020 and 2019, the Company made interest payments of approximately $2.1 million and $2.3 million on the term loan, respectively. Revolving Credit Facility : The Revolving Credit Facility allows for borrowings of up to $50.0 million inclusive of a $5.0 million sublimit for the issuance of letters of credit and a $10.0 million sublimit for swingline loans. As of September 30, 2020, and December 31, 2019, the Company had $10.0 million of borrowings and a letter of credit outstanding under the Revolving Credit Facility as described below. For the nine months ended September 30, 2020 and 2019, the Company made interest payments of $451,528 and $350,729 under the revolving credit facility, respectively. On July 1, 2020, Regions issued an irrevocable standby letter of credit in the amount of $36.0 million under the Credit Agreement in favor of our affiliated insurance companies, Heritage P&C, NBIC and Zephyr. The letter of credit was established to provide collateral for reinsurance agreements entered into between Osprey Re and our affiliated insurance companies. The amount of the letter of credit was subsequently reduced to $31.5 million at the Company’s request once collateral needs for Osprey Re were finalized. Draws on the letter of credit are limited to covered reinsurance losses pursuant to the aforementioned reinsurance agreements. As of September 30, 2020, the Company has not drawn any funds from the letter of credit. On April 27, 2020, the Company amended its Credit Agreement by entering into the Second Amendment to Credit Agreement (the “Second Amendment”) with the lenders from time to time party to the Credit Agreement, and Regions Bank, as administrative agent and collateral agent. The Second Amendment modified the negative covenants in the Credit Agreement to permit the Company to make acquisitions and investments if, after giving effect to the acquisition or investment, either (1) the Company has an aggregate of $25.0 million in cash and availability under the revolving credit facility or (2) the consolidated leverage ratio under the Credit Agreement is at least a quarter turn less than the required ratio for the trailing four quarters. The amendment gives the Company more flexibility to make acquisitions and investments in the future. All other material terms of the Credit Agreement remain unchanged. On June 1, 2020, the Company amended the Credit Agreement by entering into the Third Amendment to Credit Agreement (the “Third Amendment”) with the lenders from time to time party to the Credit Agreement, and Regions Bank, as administrative agent and collateral agent. The Third Amendment modified the Credit Agreement to increase the letter of credit sublimit from $5 million to $40 million and to make related modifications to certain of the negative covenants in the Credit Agreement. At September 30, 2020, the Company’s effective interest rate was 3.44% for both the Term Loan Facility and the Revolving Credit Facility. The Company monitors the rates prior to the reset date which allows it to establish if the payment is monthly or quarterly based on the most beneficial rate used to calculate the interest payment. Mortgage Loan In October 2017, the Company and its subsidiary, Skye Lane Properties LLC, jointly obtained a commercial real estate mortgage loan in the amount of $12.7 million, bearing interest of 4.95% per annum and maturing on October 30, 2027. On October 30, 2022, the interest rate shall adjust to an interest rate equal to the annualized interest rate of the United States 5-year Treasury Notes as reported by Federal Reserve on a weekly average basis plus 3.10%. The Company makes monthly principal and interest payments towards the loan. For each of the respective nine month periods ended September 30, 2020 and 2019, the Company made principal and interest payments of approximately $670,000 on the mortgage loan. FHLB Loan Agreements In December 2018, a subsidiary of the Company received a 3.094% fixed interest rate cash loan of $19.2 million from the Federal Home Loan Bank (“FHLB”) Atlanta. In connection with the loan agreement, the subsidiary became a member of FHLB. Membership in the FHLB required an investment in FHLB’s common stock which was purchased in December 2018 and valued at $1.4 million. Additionally, the transaction required the acquired FHLB common stock and certain other investments to be pledged as collateral. For the nine months ended September 30, 2020, the fair value of the collateralized securities was $19.4 million and the equity investment in FHLB common stock was $1.4 million. For the nine months ended September 30, 2020 and 2019, the Company made quarterly interest payments as per the terms of the loan agreement of $457,100 and $452,000, respectively. As of September 30, 2020, and December 31, 2019, the Company also holds common stock from FHLB Des Moines, and FHLB Boston valued at $457,100 and $421,000 The following table summarizes the Company’s debt and credit facilities as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in thousands) Convertible debt $ 23,413 $ 23,413 Mortgage loan 11,902 12,117 Term loan facility 61,875 69,375 Revolving credit facility 10,000 10,000 FHLB loan agreement 19,200 19,200 Total principal amount $ 126,390 $ 134,105 Less: unamortized discount and issuance costs $ 3,801 $ 4,857 Total long-term debt $ 122,589 $ 129,248 As of the date of this report, we were in compliance with the applicable terms of all our covenants and other requirements under the Credit Agreement, Convertible Notes indenture, cash borrowings and other loans. Our ability to secure future debt financing depends, in part, on our ability to remain in such compliance. Provided there is no default or an event of default, we are permitted to payout dividends in an aggregate amount not to exceed $10.0 million in any fiscal year. The schedule of principal payments on long-term debt as of September 30, 2020 is as follows: Year Amount (In thousands) 2020 remaining $ 1,950 2021 7,806 2022 7,822 2023 74,539 2024 354 Thereafter 33,919 Total $ 126,390

Accounts Payable and Other Liab

Accounts Payable and Other Liabilities	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Accounts Payable and Other Liabilities	NOTE 16. ACCOUNTS PAYABLE AND OTHER LIABILITIES Accounts payable and other liabilities consist of the following as of September 30, 2020 and December 31, 2019: Description September 30, 2020 December 31, 2019 (In thousands) Deferred ceding commission $ 37,727 $ 37,464 Accounts payable and other payables 7,794 7,225 Lease obligations 8,150 8,369 Accrued interest and issuance costs 270 1,052 Accrued dividends 1,683 1,750 Other liabilities 228 387 Commission payables 14,645 14,798 Total other liabilities $ 70,497 $ 71,045

Statutory Accounting and Regula

Statutory Accounting and Regulations	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Statutory Accounting and Regulations	NOTE 17. STATUTORY ACCOUNTING AND REGULATIONS State laws and regulations, as well as national regulatory agency requirements, govern the operations of all insurers such as our insurance subsidiaries. The various laws and regulations require that insurers maintain minimum amounts of statutory surplus and risk-based capital, restrict insurers’ ability to pay dividends, restrict the allowable investment types and investment mixes, and subject the Company’s insurers to assessments. The Company’s insurance subsidiaries Heritage P&C, NBIC, Zephyr, and PIC must maintain capital and surplus ratios or balances as determined by the regulatory authority of the states in which they are domiciled. Heritage P&C is required to maintain capital and surplus equal to the greater of $15 million or 10% of their respective liabilities. Zephyr is required to maintain a deposit of $750,000 in a federally insured financial institution. NBIC is required to maintain capital and surplus of $3.0 million. The combined statutory surplus for Heritage P&C, Zephyr, NBIC and PIC was $302.6 million at September 30, 2020 and $351.8 million at December 31, 2019. State law also requires the Company’s insurance subsidiaries to adhere to prescribed premium-to-capital surplus ratios, and risk-based capital requirements with which the Company is in compliance. At September 30, 2020, our insurance subsidiaries met the financial and regulatory requirements of each of the states in which they conduct business.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 18. COMMITMENTS AND CONTINGENCIES The Company is involved in claims-related legal actions arising in the ordinary course of business. The Company accrues amounts resulting from claims-related legal actions in unpaid losses and loss adjustment expenses during the period that it determines an unfavorable outcome becomes probable and it can estimate the amounts. Management makes revisions to its estimates based on its analysis of subsequent information that the Company receives regarding various factors, including: (i) per claim information; (ii) company and industry historical loss experience; (iii) judicial decisions and legal developments in the awarding of damages; and (iv) trends in general economic conditions, including the effects of inflation. In July 2020, the Company entered into a ten year, non-cancellable operating lease agreement for approximately 88,600 square feet of office space located in Tampa, Florida. The Company anticipates relocating from the Clearwater Corporate office on or about April 1, 2021, to the new location. The following summarizes our principal contractual commitments, as of September 30, 2020: Total Less Than 1 Year 1-3 Years (1) 3-5 Years More than 5 Years (In thousands) Lease obligations 28,238 — 3,546 5,816 18,876 Total Contractual Obligations $ 28,238 $ — $ 3,546 $ 5,816 $ 18,876 (1) Subject to conditional basic rent abatement for the first six months, commencing on April 1, 2021 and includes the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements prior to the lease commencement date .

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 19. RELATED PARTY TRANSACTIONS The Company has been party to various related party transactions involving certain of its officers, directors and significant stockholders as set forth below. The Company has entered into each of these arrangements without obligation to continue its effect in the future and the associated expense was immaterial to its results of operations or financial position as of September 30, 2020 and 2019. • In January 2017, the Company entered into a consulting agreement with Mrs. Shannon Lucas, the wife of the Chairman and CEO, in which she agreed to provide consulting services related to the Company’s catastrophe reinsurance and risk management program at a rate of $400 per hour. The consulting agreement has no specific term and either party may terminate the agreement upon providing written notice. Additionally, she serves as a director of our subsidiaries Heritage Property & Casualty Insurance Company (“HPCI”) and NBIC. Ms. Lucas’ annual compensation for her role as a director is $150,000. For the three and nine months ended September 30, 2020 and 2019, the Company paid consulting fees to Ms. Lucas of approximately $10,400 and $83,200, respectively and $127,200 and $256,000, respectively. • In July 2019, the Board of Directors appointed Mark Berset to the Board of Directors of the Company. Berset is also the Chief Executive Officer of Comegys Insurance Agency, Inc. (“Comegys”), an independent insurance agency that writes policies for our insurance company affiliates. The Company pays commission to Comegys based upon standard industry rates consistent with those provided to the Company’s other insurance agencies. There are no arrangements or understandings between Mr. Berset and any other persons with respect to his appointment as a director. For the three and nine months ended September 30, 2020 and 2019, the Company paid agency commission to Comegys of approximately $46,300 and $232,500 and $592,400 and $557,500, respectively.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	NOTE 20. EMPLOYEE BENEFIT PLANS The Company provides a 401(k) plan for substantially all employees. The Company provides a matching contribution of 100% on the first 3% of employees’ contribution and 50% on the next 2% of the employees’ contribution to the plan. The maximum match is 4%. For the three and nine months ended September 30, 2020 and 2019, the contributions made to the plan on behalf of the participating employees were approximately $265,000 and $213,000 and $897,500 and $756,000, respectively. The Company provides its employees with a partially self-insured healthcare plan and benefits. For the three months ended September 30, 2020 and 2019, incurred medical premium costs amounted to an aggregate of $941,000 and $611,000, respectively. For the nine months ended September 30, 2020 and 2019, incurred medical premium costs amounted to an aggregate of $3.0 million and $2.4 million, respectively. An additional liability of approximately $1.6 million is recorded for unpaid claims as of September 30, 2020. A stop loss reinsurance policy caps the maximum loss that could be incurred by the Company under the self-insured plan. The Company’s stop loss coverage per employee is $150,000 for which any excess cost would be covered by the reinsurer subject to an aggregate limit for losses in excess of $1.5 million which would provide up to $1.0 million of coverage. Any excess of the coverage limits would be borne by the Company. The aggregate stop loss commences once our expenses exceed 125% of the annual aggregate expected claims.

Equity

Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Equity	NOTE 21. EQUITY The total amount of authorized capital stock consists of 50,000,000 shares of common stock and 5,000,000 shares of preferred stock. As of September 30, 2020, the Company had 27,748,606 shares of common stock outstanding, 9,279,839 treasury shares of common stock and 325,267 unvested shares of restricted common stock issued reflecting total paid-in capital of $333.3 million as of such date. As more fully disclosed in our audited consolidated financial statements for the year ended December 31, 2019, there were 28,650,918 shares of common stock outstanding, 8,349,483 treasury shares of common stock and 345,534 unvested shares of restricted common stock, representing $329.6 million of additional paid-in capital. Common Stock Holders of common stock are entitled to one vote for each share held on all matters subject to a vote of stockholders, subject to the rights of holders of any outstanding preferred stock. Accordingly, holders of a majority of the shares of common stock entitled to vote in any election of directors may elect all of the directors standing for election, subject to the rights of holders of any outstanding preferred stock. Holders of common stock will be entitled to receive ratably any dividends that the board of directors may declare out of funds legally available therefor, subject to any preferential dividend rights of outstanding preferred stock. Upon the Company’s liquidation, dissolution or winding up, the holders of common stock will be entitled to receive ratably its net assets available after the payment of all debts and other liabilities and subject to the prior rights of holders of any outstanding preferred stock. Holders of common stock have no preemptive, subscription, redemption or conversion rights. There are no redemption or sinking fund provisions applicable to the common stock. All outstanding shares of the Company’s capital stock are fully paid and non-assessable. Stock Repurchase Program On August 1, 2018, the Company announced that its Board of Directors authorized a stock repurchase program authorizing the Company to repurchase up to $50.0 million of its common stock through December 31, 2020. For the three months ended September 30, 2020, the Company did not purchase any shares of its common stock. For the nine months ended September 30, 2020, the Company purchased 930,356 shares of its common stock for $10.0 million. At September 30, 2020, the Company has the capacity to repurchase $23.8 million of its common shares until December 2020 In addition, the Company acquired 22,223 shares for approximately $297,000 for the nine months ended September 30, 2020, respectively, that were not part of the publicly announced share repurchase authorization. These shares consisted of shares retained to cover payroll withholding taxes in connection with the vesting of restricted stock awards Dividends On February 27, 2020, the Company’s Board of Directors declared a $0.06 per share quarterly dividend payable on April 3, 2020, to stockholders of record as of March 16, 2020. On May 4, 2020, the Board of Directors declared a $0.06 per share quarterly dividend payable on July 6, 2020 to stockholders of record as of June 15, 2020. On August 3, 2020, the Board of Directors declared a $0.06 per share quarterly dividend payable on October 2, 2020 to stockholders of record as of September 15, 2020. The declaration and payment of any future dividends will be subject to the discretion of the Board of Directors and will depend on a variety of factors including the Company’s financial condition and results of operations.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	NOTE 22. STOCK-BASED COMPENSATION Common and Restricted Stock The Company has adopted the Heritage Insurance Holdings, Inc., Omnibus Incentive Plan (the “Plan”) effective on May 22, 2014. The Plan authorized 2,981,737 shares of common stock for issuance under the Plan for future grants. At September 30, 2020 there were 1,063,013 shares available for grant under the Plan. The Company recognizes compensation expense under ASC 718 for its stock-based payments based on the fair value of the awards. In September 2020, the Company granted 5,000 shares of restricted stock to an employee of the Company. The stock awards vests on September 21, 2021 subject to the terms and conditions of the Plan and the Agreement. The fair market value on the date of the grant of the shares was $10.83 and the associated expense will be amortized ratably over the term of the vesting period commencing on the date of the grant. In April 2020, the Company granted 10,000 shares of restricted stock to an employee of the Company. The stock award vests in two equal installments of 5,000 shares on April 6, 2021 and 2022 subject to continued employment. The fair market value on the date of grant of the shares was $10.60 and the associated compensation expense will be amortized ratably over the term of the vesting period commencing on date of the grant. The Plan authorizes the Company to grant stock options at exercise prices equal to the fair market value of the Company’s stock on the dates the options are granted. Any options granted would typically have a maximum term of ten years from the date of grant and vest primarily in equal annual installments over a range of one to five-year The Company has also granted shares of its common stock subject to certain restrictions under the Plan. Restricted stock awards granted to employee’s vest in equal installments generally over a five-year Restricted stock activity for the nine months ended September 30, 2020 is as follows: Weighted-Average Grant-Date Fair Number of shares Value per Share Non-vested, at December 31, 2019 345,534 $ 19.56 Granted 15,000 10.68 Vested, net of shares surrendered for taxes (13,044 ) 13.17 Canceled and surrendered (22,223 ) 13.18 Non-vested, at September 30, 2020 325,267 $ 19.84 Awards are being amortized to expense over a one to five-year

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 23. SUBSEQUENT EVENTS The Company performed an evaluation of subsequent events through the date the condensed consolidated financial statements were issued and determined there were no recognized or unrecognized subsequent events that would require an adjustment or additional disclosure in the condensed consolidated financial statements as of September 30, 2020. On November 2, 2020, the Company announced that its Board of Directors declared a $0.06 per share quarterly dividend payable on December 15, 2020 to stockholders of record as of January 5, 2021. In addition, the Company announced its Board of Directors extended our existing share repurchase program from December 31, 2020 to December 31, 2021 and increased the authorization under the program from the $23.8 million remaining to $50.0 million.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Heritage Insurance Holdings, Inc. (together with its subsidiaries, the “Company” “we”, “us” or “our”). These statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain financial information that is normally included in annual consolidated financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. In the opinion of the Company’s management, all material intercompany transactions and balances have been eliminated and all adjustments consisting of normal recurring accruals which are necessary for a fair statement of the financial condition and results of operations for the interim periods have been reflected. The accompanying interim condensed consolidated financial statements and related footnotes should be read in conjunction with the Company’s audited consolidated financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”).
Reclassification	Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements Measurement of Credit Losses on Financial Instruments In 2016, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Update (“ASU”) Financial Instruments – Credit Losses ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments We adopted the standard on January 1, 2020, and based on the composition of our reinsurance recoverables, investment portfolio and other financial assets, current economic conditions and historical credit loss activity, the adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures. Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU 2020-06 related to the measurement and disclosure requirements for convertible instruments and contracts in an entity’s own equity. The pronouncement simplifies and adds disclosure requirements for the accounting and measurement of convertible instruments and the settlement assessment for contracts in an entity’s in own equity. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021. The Company is currently evaluating the potential impact of this ASU on the condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting For information regarding other accounting standards that the Company has not yet adopted, refer to our 2019 Form 10-K, filed on March 10, 2020, the section of Note 1 of the notes to the consolidated financial statements entitled “Accounting Pronouncement Not Yet Adopted”.
Fair Value Measurements	Fair Value Measurements In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement
Internal Use Software	Internal Use Software In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Summary of Amortized Cost and Fair Value of Securities Available-For-Sale	Securities Available-for-Sale The following table summarizes the amortized cost and fair value of securities available-for-sale at September 30, 2020 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: September 30, 2020 Cost or Adjusted / Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 35,198 $ 744 $ 1 $ 35,941 States, municipalities and political subdivisions 54,084 876 13 54,947 Special revenue 188,933 3,093 43 191,983 Hybrid securities 99 — 1 98 Industrial and miscellaneous 158,722 3,846 56 162,512 Total $ 437,036 $ 8,559 $ 114 $ 445,481 (1) Includes securities at September 30, 2020 with a carrying amount of $23.5 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. The following table summarizes the amortized cost and fair value of securities available-for-sale at December 31, 2019 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: December 31, 2019 Cost or Adjusted / Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 53,836 $ 383 $ 28 $ 54,191 States, municipalities and political subdivisions 74,755 1,641 41 76,355 Special revenue 246,791 3,689 254 250,226 Hybrid securities 100 1 — 101 Industrial and miscellaneous 202,307 4,097 21 206,383 Total $ 577,789 $ 9,811 $ 344 $ 587,256 (1) Includes securities at December 31, 2019 with a carrying amount of $20.2 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time.
Schedule of Proceeds Received, Gross Realized Gains and Losses from Sales of Available-for-Sale Securities	Proceeds received, and the gross realized gains and losses from sales of available-for-sale securities, for the three and nine months ended, September 30, 2020 and 2019 are as follows: Proceeds Gross Realized Gains Gross Realized Losses (In thousands) Three months ended September 30, 2020 $ 290,643 $ 20,360 $ 5 Three months ended September 30, 2019 $ 9,703 $ 108 $ — Proceeds Gross Realized Gains Gross Realized Losses (In thousands) Nine months ended September 30, 2020 $ 308,507 $ 20,492 $ 115 Nine months ended September 30, 2019 $ 49,395 $ 958 $ 76
Summary of Fixed Maturity Securities by Contractual Maturity Periods	The table below summarizes the Company’s fixed maturity securities at September 30, 2020 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of those obligations. At September 30, 2020 Cost or Amortized Cost Percent of Total Fair Value Percent of Total Maturity dates: (In thousands) (In thousands) Due in one year or less $ 79,488 18 % $ 80,166 18 % Due after one year through five years 144,994 34 % 148,502 34 % Due after five years through ten years 92,611 21 % 94,701 21 % Due after ten years 119,943 27 % 122,112 27 % Total $ 437,036 100 % $ 445,481 100 %
Summary of Net Investment Income	The following table summarizes the Company’s net investment income by major investment category for the three and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) (In thousands) Debt securities $ 2,170 $ 3,492 $ 8,567 $ 10,625 Equity securities — 22 — 944 Cash and cash equivalents 651 558 1,610 1,288 Other investments 221 324 486 258 Net investment income 3,042 4,396 10,663 13,115 Less: Investment expenses 225 741 880 1,958 Net investment income, less investment expenses $ 2,817 $ 3,655 $ 9,783 $ 11,157
Schedule of Debt Securities Available-for-Sale in an Unrealized Loss Position	The following tables summarizes debt securities available-for-sale in an unrealized loss position at September 30, 2020, aggregated by major security category and length of time in a continued unrealized loss position (in thousands): Less Than Twelve Months Twelve Months or More September 30, 2020 Number of Securities Gross Unrealized Losses Fair Value Number of Securities Gross Unrealized Losses Fair Value Debt Securities Available-for-sale U.S. government and agency securities 4 $ 1 $ 78 2 $ 0 $ 12 States, municipalities and political subdivisions 7 13 6,254 — — — Special revenue 19 40 9,185 11 3 99 Hybrid securities 1 1 99 — — — Industrial and miscellaneous 26 56 13,275 — — — Total fixed maturity securities 57 $ 111 $ 28,891 13 $ 3 $ 111 The following tables summarizes debt securities available-for-sale in an unrealized loss position at December 31, 2019, aggregated by major security category and length of time in a continued unrealized loss position (in thousands): Less Than Twelve Months Twelve Months or More December 31, 2019 Number of Securities Gross Unrealized Losses Fair Number of Securities Gross Unrealized Losses Fair Value Debt Securities Available-for-sale U.S. government and agency securities 9 $ 10 $ 1,476 23 $ 18 $ 4,288 States, municipalities and political subdivisions 6 38 7,613 3 3 1,440 Special revenue 62 145 24,862 95 109 13,159 Industrial and miscellaneous 25 13 12,601 16 8 3,202 Total fixed maturity securities 102 $ 206 $ 46,552 137 $ 138 $ 22,089

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments	The table below presents the balances of our invested assets measured at fair value on a recurring basis: September 30, 2020 Total Level 1 Level 2 Level 3 Invested Assets: (in thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 35,941 $ 373 $ 35,568 $ — States, municipalities and political subdivisions 54,947 — 54,947 — Special revenue 191,983 — 191,983 — Hybrid securities 98 — 98 — Industrial and miscellaneous 162,512 — 162,512 — Total debt securities 445,481 373 445,108 — Investments reported at NAV (1) 10,973 — — — Other invested assets (2) 17,400 — — — Total investments $ 473,854 $ 373 $ 445,108 $ — (1) September 30, 2020 includes $1.6 million of Federal Home Loan Banks membership shares held by the Company. (2) Other invested assets consist of the redeemable Class A Preferred Units are classified as held-to-maturity and are recorded at amortized cost at September 30, 2020. December 31, 2019 Total Level 1 Level 2 Level 3 Invested Assets: (in thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 54,191 $ 366 $ 53,825 $ — States, municipalities and political subdivisions 76,355 — 76,355 — Special revenue 250,226 — 250,226 — Hybrid securities 101 — 101 — Industrial and miscellaneous 206,383 — 206,383 — Total debt securities 587,256 366 586,890 — Investments reported at NAV (1) 7,993 — — — Total investments $ 595,249 $ 366 $ 586,890 $ — (1) December 31, 2019 includes $1.6 million of Federal Home Loan Banks membership shares held by the Company.

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2020
Comprehensive Income Net Of Tax [Abstract]
Summary of Other Comprehensive Income (Loss) and Tax Impact of Each Component of Other Comprehensive Income	The following table is a summary of other comprehensive income (loss) and discloses the tax impact of each component of other comprehensive income for the three and nine months ended September 30, 2020 and 2019, respectively: For the Three Months Ended September 30, 2020 2019 Pre-tax Tax After-tax Pre-tax Tax After-tax (in thousands) Other comprehensive income Change in unrealized losses on investments, net $ 2,480 $ (574 ) $ 1,906 $ 4,429 $ (1,060 ) $ 3,369 Reclassification adjustment of realized losses (gains) included in net income (20,355 ) 4,711 (15,644 ) (103 ) 25 (78 ) Effect on other comprehensive income $ (17,875 ) $ 4,137 $ (13,738 ) $ 4,326 $ (1,035 ) $ 3,291 For the Nine Months Ended September 30, 2020 2019 Pre-tax Tax After-tax Pre-tax Tax After-tax (in thousands) Other comprehensive income Change in unrealized losses on investments, net $ 19,330 $ (4,471 ) $ 14,859 $ 19,533 $ (4,677 ) $ 14,856 Reclassification adjustment of realized losses (gains) included in net income (20,377 ) 4,713 (15,664 ) 291 (70 ) 221 Effect on other comprehensive income $ (1,047 ) $ 242 $ (805 ) $ 19,824 $ (4,747 ) $ 15,077

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Company's Lease Costs	Components of the Company’s lease costs for the three and nine months ended September 30, 2020 and 2019 are as follows (in thousands): For the Three Months Ended September 30, 2020 2019 Amortization of ROU assets - Finance leases $ 21 $ 19 Interest on lease liabilities - Finance leases 5 6 Variable lease cost (cost excluded from lease payments) 128 113 Operating lease cost (cost resulting from lease payments) 340 331 Total lease cost $ 494 $ 469 For the Nine Months Ended September 30, 2020 2019 Amortization of ROU assets - Finance leases $ 64 $ 58 Interest on lease liabilities - Finance leases 16 17 Variable lease cost (cost excluded from lease payments) 391 337 Operating lease cost (cost resulting from lease payments) 1,023 918 Total lease cost $ 1,494 $ 1,330
Supplemental Cash Flow Information and Non-Cash Activity Related to Operating and Financing Leases	Supplemental cash flow information and non-cash activity related to our operating and financing leases as of September 30, 2020 and 2019 are as follows (in thousands): September 30, 2020 September 30, 2019 Finance lease - Operating cash flows $ 16 $ 20 Finance lease - Financing cash flows $ 55 $ 66 Operating lease - Operating cash flows (fixed payments) $ 1,080 $ 613 Operating lease - Operating cash flows (liability reduction) $ 761 $ 465
Supplemental Balance Sheet Information Related to Operating and Financing Leases	Supplemental balance sheet information related to our operating and financing leases as of September 30, 2020 are as follows (in thousands): Balance Sheet Classification September 30, 2020 Right-of-use assets - operating Other assets $ 6,192 Right-of-use assets - finance Other assets $ 237 Lease Liability (1) Accounts payable and other liabilities $ (7,880 ) Lease Liability - finance Accounts payable and other liabilities $ (270 ) (1) Includes $1.3 million in lease incentives received in the first quarter of 2019.
Weighted-Average Remaining Lease Term and Discount Rate for Operating and Financing Leases	Weighted-average remaining lease term and discount rate for our operating and financing leases as of September 30, 2020 are as follows: September 30, 2020 Weighted average lease term - Finance leases 2.93 yrs. Weighted average lease term - Operating leases 7.18 yrs. Weighted average discount rate - Finance leases 7.1 % Weighted average discount rate - Operating leases 5.3 %
Maturities of Lease Liabilities by Fiscal Year for Operating and Financing Leases	Maturities of lease liabilities by fiscal year for our operating and financing leases as of September 30, 2020 are as follows (in thousands): September 30, 2020 2020 remaining $ 396 2021 1,574 2022 1,580 2023 1,487 2024 1,112 Thereafter 3,694 Total lease payments 9,843 Less: imputed interest (1,693 ) Present value of lease liabilities $ 8,150

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following at September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (In thousands) Land $ 2,582 $ 2,582 Building 10,301 11,390 Computer hardware and software 6,231 5,712 Office furniture and equipment 2,027 2,007 Tenant and leasehold improvements 8,132 8,105 Vehicle fleet 850 789 Total, at cost 30,123 30,585 Less: accumulated depreciation and amortization (10,989 ) (9,832 ) Property and equipment, net $ 19,134 $ 20,753

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill (in thousands) Balance as of December 31, 2019 $ 152,459 Goodwill acquired — Impairment — Balance as of September 30, 2020 $ 152,459
Schedule of Estimated Amortization of Intangible Assets	Estimated annual pretax amortization of intangible assets for each of the next five years and thereafter is as follows (in thousands): Year Amount (1) 2020 - remaining $ 1,586 2021 $ 6,351 2022 $ 6,351 2023 $ 6,351 2024 $ 6,351 Thereafter $ 35,559 Total $ 62,549 (1) Excludes insurance licenses valued at $1.3 million and classified as an indefinite lived intangible which is subject to annual impairment testing and not amortized.

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Schedule of Other Assets	The following table summarizes the Company’s other assets for the periods indicated: Description September 30, 2020 December 31, 2019 (In thousands) Other amounts receivable 1,543 1,185 State underwriting pooling & assoc. 4,618 3,165 Prepaid expense 3,729 3,999 Right to use assets 6,429 6,645 Other assets 308 1,328 Premium tax 200 1,788 Total other assets $ 16,827 $ 18,110

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share (EPS)	The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Basic earnings (loss) per share: Net income (loss) attributable to common stockholders (000's) $ (5,233 ) $ 8,133 $ 6,519 $ 15,818 Weighted average shares outstanding 27,739,839 29,109,962 28,053,959 29,329,742 Basic earnings (loss) per share: $ (0.19 ) $ 0.28 $ 0.23 $ 0.54 Diluted earnings (loss) per share: Net income (loss) attributable to common stockholders (000's) $ (5,233 ) $ 8,133 $ 6,519 $ 15,818 Weighted average shares outstanding 27,739,839 29,109,962 28,053,959 29,329,742 Weighted average dilutive shares — 58,430 19,611 23,014 Total weighted average dilutive shares 27,739,839 29,168,392 28,073,570 29,352,756 Diluted earnings (loss) per share: $ (0.19 ) $ 0.28 $ 0.23 $ 0.54

Deferred Reinsurance Ceding C_2

Deferred Reinsurance Ceding Commission (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Schedule of Activity with Regard to Deferred Reinsurance Ceding Commission	The table below depicts the activity with regard to deferred reinsurance ceding commission during the three and nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Beginning balance of deferred ceding commission income $ 34,562 $ 34,705 $ 37,464 $ 44,996 Ceding commission deferred 17,294 15,542 43,213 39,017 Less: ceding commission earned (14,129 ) (15,062 ) (42,950 ) (48,828 ) Ending balance of deferred ceding commission income $ 37,727 $ 35,185 $ 37,727 $ 35,185

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Summary of Activity in Deferred Policy Acquisition Costs (DPAC)	The Company anticipates that its DPAC costs will be fully recoverable in the near term. The table below depicts the activity with regard to DPAC during the three and nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Beginning Balance $ 81,590 $ 74,064 $ 77,211 $ 73,055 Policy acquisition costs deferred 42,096 26,856 128,400 100,757 Amortization (37,546 ) (25,307 ) (119,471 ) (98,199 ) Ending Balance $ 86,140 $ 75,613 $ 86,140 $ 75,613

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Components of Deferred Tax Liability	The table below summarizes the significant components of our net deferred tax liability for the periods indicated: September 30, 2020 December 31, 2019 Deferred tax assets: (In thousands) Unearned premiums $ 12,018 $ 12,585 Unearned commission 8,732 8,671 Tax-related discount on loss reserve 3,028 2,716 Stock-based compensation 861 297 Accrued expenses 1,725 757 Leases 330 331 Other 1,923 1,890 Total deferred tax asset 28,617 27,247 Deferred tax liabilities: Deferred acquisition costs 19,938 17,871 Prepaid expenses 279 153 Unrealized gains 1,953 2,195 Property and equipment 1,062 1,029 Note discount 365 478 Basis in purchased investments 60 100 Basis in purchased intangibles 15,939 16,977 Other 1,469 1,067 Total deferred tax liabilities 41,065 39,870 Net deferred tax liability $ (12,448 ) $ (12,623 )

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Schedule of Effect of Reinsurance Arrangements in Consolidated Statement of Income	Effect of Reinsurance The Company’s reinsurance arrangements had the following effect on certain items in the condensed consolidated statement of income for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) (In thousands) Premium written: Direct $ 278,242 $ 237,303 $ 797,776 $ 702,491 Ceded (63,493 ) (46,858 ) (422,092 ) (406,300 ) Net $ 214,749 $ 190,445 $ 375,684 $ 296,191 Premiums earned: Direct $ 254,982 $ 231,617 $ 731,489 $ 690,165 Ceded (116,752 ) (107,755 ) (338,197 ) (342,529 ) Net $ 138,230 $ 123,862 $ 393,292 $ 347,636 Loss and Loss Adjustment Expenses Direct $ 205,337 $ 108,788 $ 452,014 $ 383,354 Ceded (85,619 ) (38,736 ) (185,245 ) (176,864 ) Net $ 119,718 $ 70,052 $ 266,769 $ 206,490

Reserve for Unpaid Losses And L

Reserve for Unpaid Losses And Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Summary of Reserve for Unpaid Losses And LAE	The table below summarizes the activity related to the Company’s reserve for unpaid losses and LAE: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In thousands) Balance, beginning of period $ 620,718 $ 430,413 $ 613,533 $ 432,359 Less: reinsurance recoverable on unpaid losses 404,370 223,023 393,630 250,506 Net balance, beginning of period 216,348 207,390 219,903 181,853 Incurred related to: Current year 125,544 70,448 281,698 208,796 Prior years (5,826 ) (396 ) (14,929 ) (2,306 ) Total incurred 119,718 70,052 266,769 206,490 Paid related to: Current year 71,955 50,920 148,563 94,075 Prior years 18,371 17,820 92,369 85,566 Total paid 90,326 68,740 240,932 179,641 Net balance, end of period 245,740 208,702 245,740 208,702 Plus: reinsurance recoverable on unpaid losses 417,257 208,884 417,257 208,884 Balance, end of period $ 662,997 $ 417,586 $ 662,997 $ 417,586

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Company's Debt and Credit Facilities	The following table summarizes the Company’s debt and credit facilities as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in thousands) Convertible debt $ 23,413 $ 23,413 Mortgage loan 11,902 12,117 Term loan facility 61,875 69,375 Revolving credit facility 10,000 10,000 FHLB loan agreement 19,200 19,200 Total principal amount $ 126,390 $ 134,105 Less: unamortized discount and issuance costs $ 3,801 $ 4,857 Total long-term debt $ 122,589 $ 129,248
Schedule of Principal Payments on Long-Term Debt	The schedule of principal payments on long-term debt as of September 30, 2020 is as follows: Year Amount (In thousands) 2020 remaining $ 1,950 2021 7,806 2022 7,822 2023 74,539 2024 354 Thereafter 33,919 Total $ 126,390

Accounts Payable and Other Li_2

Accounts Payable and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Accounts Payable and Other Liabilities	Accounts payable and other liabilities consist of the following as of September 30, 2020 and December 31, 2019: Description September 30, 2020 December 31, 2019 (In thousands) Deferred ceding commission $ 37,727 $ 37,464 Accounts payable and other payables 7,794 7,225 Lease obligations 8,150 8,369 Accrued interest and issuance costs 270 1,052 Accrued dividends 1,683 1,750 Other liabilities 228 387 Commission payables 14,645 14,798 Total other liabilities $ 70,497 $ 71,045

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Principal Contractual Commitments	The following summarizes our principal contractual commitments, as of September 30, 2020: Total Less Than 1 Year 1-3 Years (1) 3-5 Years More than 5 Years (In thousands) Lease obligations 28,238 — 3,546 5,816 18,876 Total Contractual Obligations $ 28,238 $ — $ 3,546 $ 5,816 $ 18,876 (1) Subject to conditional basic rent abatement for the first six months, commencing on April 1, 2021 and includes the estimated timing and amounts of payments for rent and tenant improvements associated with build-to-suit lease arrangements prior to the lease commencement date .

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Restricted Stock Activity	Weighted-Average Grant-Date Fair Number of shares Value per Share Non-vested, at December 31, 2019 345,534 $ 19.56 Granted 15,000 10.68 Vested, net of shares surrendered for taxes (13,044 ) 13.17 Canceled and surrendered (22,223 ) 13.18 Non-vested, at September 30, 2020 325,267 $ 19.84

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) - Accounting Standards Update 2016-13 [Member]	Sep. 30, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020

Investments - Summary of Amorti

Investments - Summary of Amortized Cost and Fair Value of Securities Available-For-Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	$ 437,036	$ 577,789
Debt Securities Available-for-sale, Gross Unrealized Gains	8,559	9,811
Debt Securities Available-for-sale, Gross Unrealized Losses	114	344
Debt Securities Available-for-sale, Fair Value	445,481	587,256
U.S. government and agency securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	35,198	53,836
Debt Securities Available-for-sale, Gross Unrealized Gains	744	383
Debt Securities Available-for-sale, Gross Unrealized Losses	1	28
Debt Securities Available-for-sale, Fair Value	35,941	54,191
States, Municipalities and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	54,084	74,755
Debt Securities Available-for-sale, Gross Unrealized Gains	876	1,641
Debt Securities Available-for-sale, Gross Unrealized Losses	13	41
Debt Securities Available-for-sale, Fair Value	54,947	76,355
Special Revenue [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	188,933	246,791
Debt Securities Available-for-sale, Gross Unrealized Gains	3,093	3,689
Debt Securities Available-for-sale, Gross Unrealized Losses	43	254
Debt Securities Available-for-sale, Fair Value	191,983	250,226
Hybrid Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	99	100
Debt Securities Available-for-sale, Gross Unrealized Gains		1
Debt Securities Available-for-sale, Gross Unrealized Losses	1
Debt Securities Available-for-sale, Fair Value	98	101
Industrial and Miscellaneous [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	158,722	202,307
Debt Securities Available-for-sale, Gross Unrealized Gains	3,846	4,097
Debt Securities Available-for-sale, Gross Unrealized Losses	56	21
Debt Securities Available-for-sale, Fair Value	$ 162,512	$ 206,383

Investments - Summary of Amor_2

Investments - Summary of Amortized Cost and Fair Value of Securities Available-For-Sale (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
U.S. government and agency securities [Member] | Pledged securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Carrying Amount	$ 23.5	$ 20.2

Investments - Schedule of Proce

Investments - Schedule of Proceeds Received, Gross Realized Gains and Losses from Sales of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Investments Debt And Equity Securities [Abstract]
Proceeds	$ 290,643	$ 9,703	$ 308,507	$ 49,395
Gross Realized Gains	20,360	$ 108	20,492	958
Gross Realized Losses	$ 5		$ 115	$ 76

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Investments [Line Items]
Realized gains from sale of equities				$ 2,400,000
Realized loss from sale of equities				1,200,000
Unrealized net gain on investment securities				993,600
Credit allowance for securities	$ 0	$ 0	$ 0
Other Investments, estimated fair value	26,774,000	26,774,000	26,774,000		$ 6,375,000
Redeemable Class A Preferred Units [Member] | Private Limited Liability Company [Member]
Investments [Line Items]
Amortized cost	$ 17,400,000	17,400,000	17,400,000
Investment in preferred units		$ 9,900,000
Preferred units interest rate		8.00%
Preferred units monthly instalment amount		$ 367,000
Preferred units instalments commencement date		Feb. 1, 2022
Preferred units maturity date		Apr. 1, 2024
Preferred units interest payments commencement date		Nov. 1, 2020
Conversion of Secured Promissory Notes into Redeemable Class A Preferred Units [Member] | Private Limited Liability Company [Member]
Investments [Line Items]
Preferred units interest rate	8.00%
Preferred units instalments commencement date	Jun. 1, 2021
Preferred units maturity date	Feb. 1, 2023
Secured promissory notes	$ 7,500,000	$ 7,500,000	7,500,000
Promissory note issuance month and year	2020-01
Preferred units installment amount	$ 150,000
Preferred units remaining principle amount	$ 225,000	225,000	225,000
Preferred units remaining instalments commencement date	Jun. 1, 2022
Aggregate interest income received	$ 353,000
REIT and LLCs [Member]
Investments [Line Items]
Other Investments, estimated fair value	9,400,000	9,400,000	9,400,000
REIT and LLCs [Member] | Redeemable Class A Preferred Units [Member]
Investments [Line Items]
Amortized cost	17,400,000	17,400,000	17,400,000
LPs, REIT's and LLCs [Member]
Investments [Line Items]
Other Investments, estimated fair value	$ 9,400,000	$ 9,400,000	9,400,000		$ 6,400,000
Equity Securities [Member]
Investments [Line Items]
Proceeds from sale of marketable equity securities			$ 0	$ 26,500,000

Investments - Summary of Fixed

Investments - Summary of Fixed Maturity Securities by Contractual Maturity Periods (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Maturity date Due in one year or less, Cost or Amortized Cost	$ 79,488
Maturity date Due after one year through five years, Cost or Amortized Cost	144,994
Maturity date Due after five years through ten years, Cost or Amortized Cost	92,611
Maturity date Due after ten years, Cost or Amortized Cost	119,943
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	$ 437,036	$ 577,789
Maturity date Due in one year or less, Percentage of Total	18.00%
Maturity date Due after one year through five years, Percentage of Total	34.00%
Maturity date Due after five years through ten years, Percentage of Total	21.00%
Maturity date Due after ten years, Percentage of Total	27.00%
Maturity date Total, Percentage	100.00%
Maturity date Due in one year or less, Fair Value	$ 80,166
Maturity date Due after one year through five years, Fair Value	148,502
Maturity date Due after five years through ten years, Fair Value	94,701
Maturity date Due after ten years, Fair Value	122,112
Maturity date Total, Fair Value	$ 445,481	$ 587,256
Maturity date Due in one year or less, Percentage of Total	18.00%
Maturity date Due after one year through five years, Percentage of Total	34.00%
Maturity date Due after five years through ten years, Percentage of Total	21.00%
Maturity date Due after ten years, Percentage of Total	27.00%
Maturity date Total, Percentage	100.00%

Investments - Summary of Net In

Investments - Summary of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Available-for-sale Securities [Line Items]
Gross investment income (loss)	$ 3,042	$ 4,396	$ 10,663	$ 13,115
Less: Investment expenses	225	741	880	1,958
Net investment income, less investment expenses	2,817	3,655	9,783	11,157
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income (loss)	2,170	3,492	8,567	10,625
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income (loss)		22		944
Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income (loss)	651	558	1,610	1,288
Other Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross investment income (loss)	$ 221	$ 324	$ 486	$ 258

Investments - Schedule of Debt

Investments - Schedule of Debt Securities Available-for-Sale in an Unrealized Loss Position (Detail) $ in Thousands	Sep. 30, 2020USD ($)Security	Dec. 31, 2019USD ($)Security
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities | Security	57	102
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 111	$ 206
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 28,891	$ 46,552
Debt Securities Available-for-sale Twelve Months or More, Number of Securities | Security	13,000	137,000
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 3	$ 138
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 111	$ 22,089
U.S. government and agency securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities | Security	4	9
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 1	$ 10
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 78	$ 1,476
Debt Securities Available-for-sale Twelve Months or More, Number of Securities | Security	2,000	23,000
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 0	$ 18
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 12	$ 4,288
States, Municipalities and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities | Security	7	6
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 13	$ 38
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 6,254	$ 7,613
Debt Securities Available-for-sale Twelve Months or More, Number of Securities | Security		3,000
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses		$ 3
Debt Securities Available-for-sale Twelve Months or More, Fair Value		$ 1,440
Special Revenue [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities | Security	19	62
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 40	$ 145
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 9,185	$ 24,862
Debt Securities Available-for-sale Twelve Months or More, Number of Securities | Security	11,000	95,000
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 3	$ 109
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 99	$ 13,159
Hybrid Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities | Security	1
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 1
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 99
Industrial and Miscellaneous [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities | Security	26	25
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 56	$ 13
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 13,275	$ 12,601
Debt Securities Available-for-sale Twelve Months or More, Number of Securities | Security		16,000
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses		$ 8
Debt Securities Available-for-sale Twelve Months or More, Fair Value		$ 3,202

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	$ 445,481	$ 587,256
Investments reported at NAV	10,973	7,993
Other invested assets	17,400
Total investments	473,854	595,249
Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	373	366
Total investments	373	366
Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	445,108	586,890
Total investments	445,108	586,890
U.S. government and agency securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	35,941	54,191
U.S. government and agency securities [Member] | Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	373	366
U.S. government and agency securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	35,568	53,825
States, Municipalities and Political Subdivisions [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	54,947	76,355
States, Municipalities and Political Subdivisions [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	54,947	76,355
Special Revenue [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	191,983	250,226
Special Revenue [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	191,983	250,226
Hybrid Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	98	101
Hybrid Securities [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	98	101
Industrial and Miscellaneous [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	162,512	206,383
Industrial and Miscellaneous [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	$ 162,512	$ 206,383

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Federal home loan banks membership shares	$ 1.6	$ 1.6

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Nonrecurring [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Non-recurring fair value adjustments	$ 0	$ 0	$ 0	$ 0

Other Comprehensive Income - Su

Other Comprehensive Income - Summary of Other Comprehensive Income (Loss) and Tax Impact of Each Component of Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other comprehensive income
Change in unrealized losses on investments, net, Pre-tax	$ 2,480	$ 4,429	$ 19,330	$ 19,533
Reclassification adjustment of realized losses (gains) included in net income, Pre-tax	(20,355)	(103)	(20,377)	291
Effect on other comprehensive income, Pre-tax	(17,875)	4,326	(1,047)	19,824
Change in unrealized losses on investments, net, Tax	(574)	(1,060)	(4,471)	(4,677)
Reclassification adjustment of realized losses (gains) included in net income, Tax	4,711	25	4,713	(70)
Effect on other comprehensive income, Tax	4,137	(1,035)	242	(4,747)
Change in unrealized losses on investments, net, After-tax	1,906	3,369	14,859	14,856
Reclassification adjustment of realized losses (gains) included in net income, After-tax	(15,644)	(78)	(15,664)	221
Effect on other comprehensive income, After-tax	$ (13,738)	$ 3,291	$ (805)	$ 15,077

Leases - Additional Information

Leases - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020
Lessee Lease Description [Line Items]
Lease renewal, Description	one or more options to renew.
Minimum [Member]
Lessee Lease Description [Line Items]
Lease terms	1 year
Renewal terms of lease	2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Lease terms	10 years
Renewal terms of lease	10 years

Leases - Components of Company'

Leases - Components of Company's Lease Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Amortization of ROU assets - Finance leases	$ 21	$ 19	$ 64	$ 58
Interest on lease liabilities - Finance leases	5	6	16	17
Variable lease cost (cost excluded from lease payments)	128	113	391	337
Operating lease cost (cost resulting from lease payments)	340	331	1,023	918
Total lease cost	$ 494	$ 469	$ 1,494	$ 1,330

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information and Non-Cash Activity Related to Operating and Financing Leases (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Finance lease - Operating cash flows	$ 16	$ 20
Finance lease - Financing cash flows	55	66
Operating lease - Operating cash flows (fixed payments)	1,080	613
Operating lease - Operating cash flows (liability reduction)	$ 761	$ 465

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Operating and Financing Leases (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Leases [Abstract]
Right-of-use assets - operating	$ 6,192
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets
Right-of-use assets - finance	$ 237
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets
Lease Liability - operating	$ (7,880)
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities
Lease Liability - finance	$ (270)
Finance Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities

Leases - Supplemental Balance_2

Leases - Supplemental Balance Sheet Information Related to Operating and Financing Leases (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Lease incentives received	$ 1.3

Leases - Weighted-Average Remai

Leases - Weighted-Average Remaining Lease Term and Discount Rate for Operating and Financing Leases (Detail)	Sep. 30, 2020
Leases [Abstract]
Weighted average lease term - Finance leases	2 years 11 months 4 days
Weighted average lease term - Operating leases	7 years 2 months 4 days
Weighted average discount rate - Finance leases	7.10%
Weighted average discount rate - Operating leases	5.30%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities by Fiscal Year for Operating and Financing Leases (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Leases [Abstract]
2020 remaining	$ 396
2021	1,574
2022	1,580
2023	1,487
2024	1,112
Thereafter	3,694
Total lease payments	9,843
Less: imputed interest	(1,693)
Present value of lease liabilities	$ 8,150

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total, at cost	$ 30,123	$ 30,585
Less: accumulated depreciation and amortization	(10,989)	(9,832)
Property and equipment, net	19,134	20,753
Land [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	2,582	2,582
Building [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	10,301	11,390
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	6,231	5,712
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	2,027	2,007
Tenant and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	8,132	8,105
Vehicle Fleet [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	$ 850	$ 789

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)Building	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)aft²Building	Sep. 30, 2019USD ($)
Property Plant And Equipment Useful Life And Values [Abstract]
Depreciation and amortization expense	$ 442,000	$ 649,000	$ 1,300,000	$ 1,900,000
Number of acres of land purchased | a			15
Number of buildings | Building	4		4
Gross area of acquired property | ft²			191,200
Sold property			$ 950,000

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Mar. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Goodwill	$ 152,459,000			$ 152,459,000		$ 152,459,000
Intangibles, net	63,864,000			63,864,000		$ 68,642,000
Indefinite lived intangible, insurance licenses	1,300,000			1,300,000
Impairment			$ 0
Amortization of intangible assets	1,600,000	$ 2,100,000		$ 4,800,000	$ 6,300,000
Impairment of intangible assets	$ 0	$ 0
Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful life of intangible asset				2 years 6 months
Finite-lived intangible assets useful lives				2 years 6 months
Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Useful life of intangible asset				15 years
Finite-lived intangible assets useful lives				15 years

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 30, 2019	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance		$ 152,459,000
Goodwill acquired
Impairment	$ 0
Ending balance		$ 152,459,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Estimated Amortization of Intangible Assets (Details) $ in Thousands	Sep. 30, 2020USD ($)	[1]
Goodwill And Intangible Assets Disclosure [Abstract]
2020 - remaining	$ 1,586
2021	6,351
2022	6,351
2023	6,351
2024	6,351
Thereafter	35,559
Total	$ 62,549
[1]	Excludes insurance licenses valued at $1.3 million and classified as an indefinite lived intangible which is subject to annual impairment testing and not amortized

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Estimated Amortization of Intangible Assets (Parenthetical) (Details) $ in Millions	Sep. 30, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Indefinite lived intangible, insurance licenses	$ 1.3

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other amounts receivable	$ 1,543	$ 1,185
State underwriting pooling & assoc.	4,618	3,165
Prepaid expense	3,729	3,999
Right to use assets	6,429	6,645
Other assets	308	1,328
Premium tax	200	1,788
Total other assets	$ 16,827	$ 18,110

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (EPS) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic earnings (loss) per share:
Net income (loss) attributable to common stockholders (000's)	$ (5,233)	$ 8,133	$ 6,519	$ 15,818
Weighted average shares outstanding	27,739,839	29,109,962	28,053,959	29,329,742
Basic earnings (loss) per share:	$ (0.19)	$ 0.28	$ 0.23	$ 0.54
Diluted earnings (loss) per share:
Net income (loss) attributable to common stockholders (000's)	$ (5,233)	$ 8,133	$ 6,519	$ 15,818
Weighted average shares outstanding	27,739,839	29,109,962	28,053,959	29,329,742
Weighted average dilutive shares		58,430	19,611	23,014
Total weighted average dilutive shares	27,739,839	29,168,392	28,073,570	29,352,756
Diluted earnings (loss) per share:	$ (0.19)	$ 0.28	$ 0.23	$ 0.54

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Number of antidilutive shares	1,819,503	2,139,770

Deferred Reinsurance Ceding C_3

Deferred Reinsurance Ceding Commission - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Policy Acquisition Costs [Member]
Deferred Reinsurance Ceding Commission [Line Items]
Ceding commission income	$ 10.6	$ 11.3	$ 32.3	$ 36.8
General and Administrative Expenses [Member]
Deferred Reinsurance Ceding Commission [Line Items]
Ceding commission income	$ 3.5	$ 3.7	$ 10.6	$ 12

Deferred Reinsurance Ceding C_4

Deferred Reinsurance Ceding Commission - Schedule of Activity with Regard to Deferred Reinsurance Ceding Commission (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Insurance [Abstract]
Beginning balance of deferred ceding commission income	$ 34,562	$ 34,705	$ 37,464	$ 44,996
Ceding commission deferred	17,294	15,542	43,213	39,017
Less: ceding commission earned	(14,129)	(15,062)	(42,950)	(48,828)
Ending balance of deferred ceding commission income	$ 37,727	$ 35,185	$ 37,727	$ 35,185

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Summary of Activity in Deferred Policy Acquisition Costs (DPAC) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Insurance [Abstract]
Beginning Balance	$ 81,590	$ 74,064	$ 77,211	$ 73,055
Policy acquisition costs deferred	42,096	26,856	128,400	100,757
Amortization	(37,546)	(25,307)	(119,471)	(98,199)
Ending Balance	$ 86,140	$ 75,613	$ 86,140	$ 75,613

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes expense (benefit)	$ (1,500,000)	$ 2,950,000	$ 2,784,000	$ 5,687,000
Annual effective tax rate	22.30%	26.60%	29.90%	26.40%
Uncertain tax positions	$ 0		$ 0		$ 0

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Liability (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deferred tax assets:
Unearned premiums	$ 12,018	$ 12,585
Unearned commission	8,732	8,671
Tax-related discount on loss reserve	3,028	2,716
Stock-based compensation	861	297
Accrued expenses	1,725	757
Leases	330	331
Other	1,923	1,890
Total deferred tax asset	28,617	27,247
Deferred tax liabilities:
Deferred acquisition costs	19,938	17,871
Prepaid expenses	279	153
Unrealized gains	1,953	2,195
Property and equipment	1,062	1,029
Note discount	365	478
Basis in purchased investments	60	100
Basis in purchased intangibles	15,939	16,977
Other	1,469	1,067
Total deferred tax liabilities	41,065	39,870
Net deferred tax liability	$ (12,448)	$ (12,623)

Reinsurance - Additional inform

Reinsurance - Additional information (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)Reinsurer	Jun. 30, 2021USD ($)Layer	Jun. 30, 2020USD ($)Layer	Jan. 01, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Unpaid losses and loss adjustment expenses	$ 662,997,000		$ 620,718,000		$ 613,533,000	$ 417,586,000	$ 430,413,000	$ 432,359,000
Reinsurance payable	$ 240,857,000				156,351,000
Number of reinstatements available | Reinsurer	2
Reinsurance recoverable net of allowance for estimated uncollectible reinsurance	$ 54,100			$ 49,300	$ 54,000
Accounting Standards Update 2016-13 [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
Facultative Reinsurance [Member] | Maximum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance payable	$ 10,000,000
Facultative Reinsurance [Member] | Minimum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Facultative reinsurance purchase amount	10,000,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Number of layers in excess of retention loss | Layer			2
Retention under program to provide reinsurance coverage			$ 400,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member] | First Layer Coverage [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			350,000
Primary retention			400,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member] | Second Layer Coverage for Property Losses [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			2,750,000
Primary retention			750,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member] | Casualty Losses for Second Layer [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			1,250,000
Primary retention			$ 750,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member] | Forecast [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Number of layers in excess of retention loss | Layer		2
Retention under program to provide reinsurance coverage		$ 500,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member] | Forecast [Member] | First Layer Coverage [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage		250,000
Primary retention		500,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member] | Forecast [Member] | Second Layer Coverage for Property Losses [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage		2,750,000
Primary retention		750,000
NBIC [Member] | General Excess of Loss 2020-2021 Reinsurance Program [Member] | Forecast [Member] | Casualty Losses for Second Layer [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage		1,250,000
Primary retention		$ 750,000
NBIC [Member] | Facultative 2020 - 2021 Excess of Loss Reinsurance Program [Member] | Minimum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance payable	$ 3,500,000
Commercial Residential Losses [Member] | NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Number of reinstatements available | Reinsurer	2
Insurance Claims [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Unpaid losses and loss adjustment expenses	$ 1,000,000
Insurance Claims [Member] | Commercial Residential Losses [Member] | NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Unpaid losses and loss adjustment expenses	750,000
Property Per Risk Coverage [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Coverage limit	9,000,000
Reinsurance payable	27,000,000
Property Per Risk Coverage [Member] | Commercial Residential Losses [Member] | NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Coverage limit	250,000
Reinsurance payable	$ 750,000
Catastrophe [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance premium, amortization period	12 months
Quota Share [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance premium, amortization period	12 months

Reinsurance - Catastrophe Exces

Reinsurance - Catastrophe Excess of Loss Reinsurance - Additional information - (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Purchase of reinsurance from third party	$ 116,752,000	$ 107,755,000	$ 338,197,000	$ 342,529,000
Reinsurance payable	240,857,000		$ 240,857,000		$ 156,351,000
FHCF [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Percentage comprising aggregate participation			90.00%
2020-2021 Excess of Loss Reinsurance Programs [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance purchase limit	2,600,000,000		$ 2,600,000,000
Purchase of reinsurance from third party			2,600,000,000
Reinsurance payable	272,100,000		272,100,000
2020-2021 Excess of Loss Reinsurance Programs [Member] | NBIC [Member] | First Catastrophic Event [Member] | Maximum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			965,000,000
First event retention for insurance company subsidiary	13,300,000		13,300,000
2020-2021 Excess of Loss Reinsurance Programs [Member] | Heritage P&C [Member] | First Catastrophic Event [Member] | Maximum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			1,350,000,000
First event retention for insurance company subsidiary	20,000,000		20,000,000
2020-2021 Excess of Loss Reinsurance Programs [Member] | Zephyr [Member] | First Catastrophic Event [Member] | Maximum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			690,000,000
First event retention for insurance company subsidiary	$ 20,000,000		20,000,000
Osprey [Member] | First Catastrophic Event [Member] | Maximum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			41,800,000
Osprey [Member] | First Catastrophic Event [Member] | Minimum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			$ 22,100,000

Reinsurance - Gross Quota and N

Reinsurance - Gross Quota and Net Quota Share Reinsurance - Additional information - (Detail) - NBIC [Member] - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	May 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Gross Quota Share [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Percentage of gross quota share		8.00%
Reinsurance recoveries on paid losses		$ 1,000
2020-2021 Net Quota Share Reinsurance [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Net lines quota share occurrence limit	$ 20
Percentage of renewed ceded net premium and losses			56.00%	5.00%

Reinsurance - Aggregate Coverag

Reinsurance - Aggregate Coverage - Additional information - (Detail) $ in Thousands	Dec. 31, 2019USD ($)Reinsurer	Dec. 01, 2019USD ($)	Sep. 30, 2020USD ($)Reinsurer
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Prepaid reinsurance premiums	$ 224,102		$ 307,997
Number of reinstatements available | Reinsurer			2
Aggregate Coverage [Member] | Catastrophe [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Purchased aggregate reinstatement premium			$ 976,000
Prepaid reinsurance premiums			621,000
Net of prepaid reinsurance premium as attachment point			$ 40,000
42.5% Aggregate Coverage [Member] | NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Aggregate contract coverage limit		$ 20,000
Primary retention		20,000
Franchise deductible amount		$ 1,000
Aggregate contract expiration date		Mar. 31, 2020
Percentage of aggregate contract		42.50%
100.00% Aggregate Coverage [Member] | NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Aggregate contract coverage limit	20,000
Primary retention	$ 20,000
Aggregate contract expiration date	Dec. 31, 2020
Percentage of aggregate contract	100.00%
Number of reinstatements available | Reinsurer	1

Reinsurance - Schedule of Effec

Reinsurance - Schedule of Effect of Reinsurance Arrangements in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Premiums Written
Premiums Written, Direct	$ 278,242	$ 237,303	$ 797,776	$ 702,491
Premiums Written, Ceded	(63,493)	(46,858)	(422,092)	(406,300)
Premiums Written, Net	214,749	190,445	375,684	296,191
Premiums Earned
Premiums Earned, Direct	254,982	231,617	731,489	690,165
Premiums Earned, Ceded	(116,752)	(107,755)	(338,197)	(342,529)
Net premiums earned	138,230	123,862	393,292	347,636
Losses and Loss Adjustment Expenses
Losses and Loss Adjustment Expenses, Direct	205,337	108,788	452,014	383,354
Losses and Loss Adjustment Expenses, Ceded	(85,619)	(38,736)	(185,245)	(176,864)
Losses and Loss Adjustment Expenses, Net	$ 119,718	$ 70,052	$ 266,769	$ 206,490

Reserve for Unpaid Losses And_2

Reserve for Unpaid Losses And Loss Adjustment Expenses - Summary of Reserve for Unpaid Losses And LAE (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Insurance [Abstract]
Balance, beginning of period	$ 620,718	$ 430,413	$ 613,533	$ 432,359
Less: reinsurance recoverable on unpaid losses	404,370	223,023	393,630	250,506
Net balance, beginning of period	216,348	207,390	219,903	181,853
Incurred related to:
Current year	125,544	70,448	281,698	208,796
Prior years	(5,826)	(396)	(14,929)	(2,306)
Total incurred	119,718	70,052	266,769	206,490
Paid related to:
Current year	71,955	50,920	148,563	94,075
Prior years	18,371	17,820	92,369	85,566
Total paid	90,326	68,740	240,932	179,641
Net balance, end of period	245,740	208,702	245,740	208,702
Plus: reinsurance recoverable on unpaid losses	417,257	208,884	417,257	208,884
Balance, end of period	$ 662,997	$ 417,586	$ 662,997	$ 417,586

Reserve for Unpaid Losses And_3

Reserve for Unpaid Losses And Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Insurance [Abstract]
Unpaid losses and loss adjustment expenses	$ 245,740	$ 216,348	$ 219,903	$ 208,702	$ 207,390	$ 181,853
Unpaid losses and loss adjustment expenses attributable to IBNR net of reinsurance recoverable	$ 185,500
Net reserves for unpaid losses and loss adjustment expenses, percentage	75.50%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)

Jan. 02, 2020

Feb. 19, 2019

Dec. 31, 2018

Oct. 31, 2017

Mar. 31, 2019

Sep. 30, 2020

Sep. 30, 2019

Jul. 01, 2020

Jun. 01, 2020

Apr. 27, 2020

Dec. 31, 2019

Sep. 30, 2017

Aug. 31, 2017

Debt Instrument [Line Items]

Long-term debt, net

$ 122,589,000

$ 129,248,000

Issuance and debt discount costs

3,801,000

4,857,000

Convertible notes converted into common stock

$ 4,210,000

Maximum [Member]

Debt Instrument [Line Items]

Payout dividends, aggregate amount

10,000,000

Federal Home Loan Bank Of Atlanta [Member]

Debt Instrument [Line Items]

Interest paid

457,100

$ 452,000

FHLB advance Interest rate

3.094%

Cash loan received under advance from FHLB

$ 19,200,000

Required fair value of reinvestment in FHLB common stock.

$ 1,400,000

1,400,000

Estimated fair value of collateral with FHLB

19,400,000

Federal Home Loan Bank Des Moines [Member]

Debt Instrument [Line Items]

Required fair value of reinvestment in FHLB common stock.

457,100

457,100

Federal Home Loan Bank Boston [Member]

Debt Instrument [Line Items]

Required fair value of reinvestment in FHLB common stock.

421,000

421,000

Regions Bank [Member] | Standby Letters of Credit [Member]

Debt Instrument [Line Items]

Outstanding borrowing capacity amount

31,500,000

$ 36,000,000

Amount drawn funds from the facility

$ 0

Convertible Note [Member] | Heritage Insurance Holdings, Inc. [Member]

Debt Instrument [Line Items]

Repurchase of convertible notes

$ 5,800,000

Cash consideration paid for repurchase of debt

$ 2,900,000

Shares issued for consideration of repurchase debt

285,201

Convertible notes converted into common stock

$ 4,200,000

Non-operating loss extinguishment of debt

$ 48,000

Convertible Senior Notes [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 136,800,000

Interest rate

5.875%

5.875%

Investment maturity date

Aug. 1, 2037

Interest payments term

Interest is payable semi-annually in arrears, on February 1, and August 1 of each year, commencing in 2018.

Long-term debt, net

$ 21,900,000

Issuance and debt discount costs

1,500,000

Interest paid

$ 1,400,000

1,500,000

Senior Secured Credit Facility [Member]

Debt Instrument [Line Items]

Notes maturity period

5 years

Maximum borrowing capacity

$ 125,000,000

Senior Secured Credit Facility [Member] | Second Amendment [Member]

Debt Instrument [Line Items]

Covenant description

The Second Amendment modified the negative covenants in the Credit Agreement to permit the Company to make acquisitions and investments if, after giving effect to the acquisition or investment, either (1) the Company has an aggregate of $25.0 million in cash and availability under the revolving credit facility or (2) the consolidated leverage ratio under the Credit Agreement is at least a quarter turn less than the required ratio for the trailing four quarters.

Senior Secured Credit Facility [Member] | Term Loan Facility [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,900,000

69,400,000

Interest paid

$ 2,100,000

2,300,000

Maximum borrowing capacity

75,000,000

Principal payments in equal installments

$ 1,900,000

Aggregate remaining principal amount

$ 61,900,000

Effective interest rate

3.44%

Senior Secured Credit Facility [Member] | Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Interest paid

$ 451,528

350,729

Maximum borrowing capacity

$ 50,000,000

50,000,000

Outstanding borrowing capacity amount

10,000,000

10,000,000

Letters of credit outstanding amount

$ 10,000,000

$ 10,000,000

Effective interest rate

3.44%

Senior Secured Credit Facility [Member] | Revolving Credit Facility [Member] | Second Amendment [Member]

Debt Instrument [Line Items]

Aggregate availability amount

$ 25,000,000

Senior Secured Credit Facility [Member] | Standby Letters of Credit [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 5,000,000

Senior Secured Credit Facility [Member] | Standby Letters of Credit [Member] | Third Amendment [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 40,000,000

Senior Secured Credit Facility [Member] | Swingline Loan [Member]

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 10,000,000

Collateral Financial Arrangement [Member] | Skye Lane Properties LLC [Member] | Mortgage Loan [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 12,700,000

Interest rate

4.95%

Investment maturity date

Oct. 30, 2027

Frequency of periodic principal and interest payments

monthly

Payment of principal and interest

$ 670,000

$ 670,000

Collateral Financial Arrangement [Member] | Skye Lane Properties LLC [Member] | Mortgage Loan [Member] | 5-year Treasury Security [Member]

Debt Instrument [Line Items]

Debt instrument, basis spread on variable rate

3.10%

Long-Term Debt - Schedule of Co

Long-Term Debt - Schedule of Company's Debt and Credit Facilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount	$ 126,390	$ 134,105
Less: unamortized discount and issuance costs	3,801	4,857
Total long-term debt	122,589	129,248
Term Loan Facility [Member]
Debt Instrument [Line Items]
Principal amount	61,875	69,375
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal amount	10,000	10,000
Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount	23,413	23,413
FHLB Loan Agreement [Member]
Debt Instrument [Line Items]
Principal amount	19,200	19,200
Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal amount	$ 11,902	$ 12,117

Long-Term Debt - Schedule of Pr

Long-Term Debt - Schedule of Principal Payments on Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2020 remaining	$ 1,950
2021	7,806
2022	7,822
2023	74,539
2024	354
Thereafter	33,919
Total	$ 126,390	$ 134,105

Accounts Payable and Other Li_3

Accounts Payable and Other Liabilities - Schedule of Accounts Payable and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Deferred ceding commission	$ 37,727	$ 37,464
Accounts payable and other payables	7,794	7,225
Lease obligations	8,150	8,369
Accrued interest and issuance costs	270	1,052
Accrued dividends	1,683	1,750
Other liabilities	228	387
Commission payables	14,645	14,798
Total other liabilities	$ 70,497	$ 71,045

Statutory Accounting and Regu_2

Statutory Accounting and Regulations - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Heritage P&C [Member]
Statutory Accounting Practices [Line Items]
Statutory accounting practices, capital and surplus requirements of insurance subsidiary	greater of $15 million or 10% of their respective liabilities.
Minimum required amount of capital and surplus maintained by the insurance subsidiary	$ 15,000,000
Statutory capital and surplus requirements, percentage	10.00%
Zephyr [Member]
Statutory Accounting Practices [Line Items]
Deposits held	$ 750,000
NBIC [Member]
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	3,000,000
Heritage P&C, Zephyr, NBIC and PIC [Member]
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 302,600,000	$ 351,800,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended
	Jul. 31, 2020ft²
Commitments And Contingencies Disclosure [Abstract]
Non-cancellable operating lease term	10 years
Non-cancellable operating lease term, leased area	88,600

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Principal Contractual Commitments (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Commitments And Contingencies [Line Items]
Total	$ 28,238
1-3 Years	3,546
3-5 Years	5,816
More than 5 Years	18,876
Lease Obligations [Member]
Commitments And Contingencies [Line Items]
Total	28,238
1-3 Years	3,546
3-5 Years	5,816
More than 5 Years	$ 18,876

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Mrs. Shannon Lucas [Member]
Related Party Transaction [Line Items]
Consulting fees hourly rate	$ 400
Immediate Family Member of Management or Principal Owner [Member]
Related Party Transaction [Line Items]
Consulting fees		$ 10,400	$ 83,200	$ 127,200	$ 256,000
Heritage Property & Casualty Insurance Company and NBIC [Member] | Director [Member]
Related Party Transaction [Line Items]
Director annual compensation	$ 150,000
Comegys Insurance Agency, Inc. [Member]
Related Party Transaction [Line Items]
Agency commission		$ 46,300	$ 232,500	$ 592,400	$ 557,500

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Contribution Plan Disclosure [Line Items]
Contribution for participating employees	$ 265,000	$ 213,000	$ 897,500	$ 756,000
Defined Contribution Plan, Plan Name			401(k)
Medical premium cost	941,000	$ 611,000	$ 3,000,000	$ 2,400,000
Additional liability for unpaid claims	$ 1,600,000		1,600,000
Stop loss coverage per employee			150,000
Defined contribution plan, aggregate limit for losses			$ 1,500,000
Defined contribution plan, aggregate stop loss commences threshold percentage			125.00%
Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of contribution on employee salary			4.00%
Defined contribution plan, aggregate limit for losses in provided amount			$ 1,000,000
First 3% of Employees [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of contribution on employee salary			100.00%
Next 2% of the Employees [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of contribution on employee salary			50.00%

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($)	Aug. 03, 2020	May 04, 2020	Feb. 27, 2020	Aug. 01, 2018	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Dec. 31, 2019
Class Of Stock [Line Items]
Common stock, shares authorized					50,000,000						50,000,000	50,000,000
Preferred stock, shares authorized					5,000,000						5,000,000
Common stock, shares outstanding					27,748,606						27,748,606	28,650,918
Treasury stock, shares					9,279,839						9,279,839	8,349,483
Additional paid-in capital					$ 333,332,000						$ 333,332,000	$ 329,568,000
Common stock voting rights											one vote
Stock repurchase program, authorized amount				$ 50,000,000	$ 23,800,000						$ 23,800,000
Stock repurchase program, expiration date				Dec. 31, 2020							Dec. 31, 2020
Treasury shares repurchased, shares					0						930,356
Treasury shares repurchased, value						$ 2,011,000	$ 7,986,000	$ 4,549,000	$ 2,333,000	$ 5,011,000	$ 10,000,000
Stock repurchased in connection with vesting of restricted stock unit											22,223
Stock repurchased in connection with vesting of restricted stock unit, value											$ 297,000
Cash dividend per common share	$ 0.06	$ 0.06	$ 0.06
Cash dividend, payable date	Oct. 2, 2020	Jul. 6, 2020	Apr. 3, 2020
Dividend payable, record date	Sep. 15, 2020	Jun. 15, 2020	Mar. 16, 2020
Restricted Stock [Member]
Class Of Stock [Line Items]
Unvested restricted common stock issued					325,267						325,267	345,534

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail)	1 Months Ended		3 Months Ended			9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares	Apr. 30, 2020Installment$ / sharesshares	Dec. 31, 2020	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)shares	Dec. 31, 2019$ / shares	May 22, 2014shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum tenure of stock option from the date of grant						10 years
Exercisable period of vested awards						30 days
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period						1 year
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period						5 years
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted						15,000
Number of shares vested						13,044
Weighted-average grant-date fair value per share | $ / shares	$ 19.84			$ 19.84		$ 19.84		$ 19.56
Stock-based compensation expense | $				$ 1,400,000	$ 1,300,000	$ 4,100,000	$ 4,000,000
Unrecognized stock compensation expense | $	$ 1,600,000			$ 1,600,000		$ 1,600,000
Restricted stock vested and released						35,267	35,267
Shares withheld to cover withholding taxes						22,223	12,620
Shares withheld to cover withholding taxes, value | $						$ 297,000	$ 186,000
Restricted Stock [Member] | Forecast [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected to recognize stock compensation expense percentage			31.00%
Restricted Stock [Member] | Employee [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period						5 years
Restricted Stock [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period						1 year
Restricted Stock [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period						5 years
Restricted Stock [Member] | Employee [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted	5,000	10,000
Number of vesting installments | Installment		2
Vesting date of stock awards	Sep. 21, 2021
Weighted-average grant-date fair value per share | $ / shares	$ 10.83	$ 10.60		$ 10.83		$ 10.83
Restricted Stock [Member] | Employee [Member] | Vesting on April 6, 2021 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares vested		5,000
Restricted Stock [Member] | Employee [Member] | Vesting on April 6, 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares vested		5,000
Omnibus Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance									2,981,737
Shares available for grant	1,063,013			1,063,013		1,063,013

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Restricted Stock Activity (Detail) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Number of shares | shares	345,534
Granted, Number of shares | shares	15,000
Vested, net of shares surrendered for taxes, Number of shares | shares	(13,044)
Canceled and surrendered, Number of shares | shares	(22,223)
Ending balance, Number of shares | shares	325,267
Beginning balance, Weighted-Average Grant-Date Fair Value per Share | $ / shares	$ 19.56
Granted, Weighted-Average Grant-Date Fair Value per Share | $ / shares	10.68
Vested, net of shares surrendered for taxes, Weighted Average Grant-Date Fair Value per Share | $ / shares	13.17
Canceled and surrendered, Weighted-Average Grant-Date Fair Value per Share | $ / shares	13.18
Ending balance, Weighted-Average Grant-Date Fair Value per Share | $ / shares	$ 19.84

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Nov. 02, 2020	Aug. 03, 2020	May 04, 2020	Feb. 27, 2020	Aug. 01, 2018	Sep. 30, 2020
Subsequent Event [Line Items]
Cash dividend per common share		$ 0.06	$ 0.06	$ 0.06
Cash dividend, payable date		Oct. 2, 2020	Jul. 6, 2020	Apr. 3, 2020
Dividend payable, record date		Sep. 15, 2020	Jun. 15, 2020	Mar. 16, 2020
Stock repurchase program, authorized amount					$ 50,000,000	$ 23,800,000
Stock repurchase program, expiration date					Dec. 31, 2020	Dec. 31, 2020
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash dividend, declared date	Nov. 2, 2020
Cash dividend per common share	$ 0.06
Cash dividend, payable date	Dec. 15, 2020
Dividend payable, record date	Jan. 5, 2021
Stock repurchase program, authorized amount	$ 50,000,000
Stock repurchase program, expiration date	Dec. 31, 2021