NI (NODK) 10-Q 11 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 11, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	NI Holdings, Inc.
Entity Central Index Key	1,681,206
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		22,313,329
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Cash and cash equivalents	$ 18,148	$ 18,318
Fixed income securities, at fair value	238,838	161,470
Equity securities, at fair value	44,587	25,917
Other investments	1,972	1,972
Total cash and investments	303,545	207,677
Premiums and agents' balances receivable	70,882	21,986
Deferred policy acquisition costs	14,126	8,942
Reinsurance premiums receivable	2,448
Reinsurance recoverables on losses	10,392	7,192
Accrued investment income	1,979	1,431
Property and equipment	5,263	4,819
Receivable from Federal Crop Insurance Corporation	12,496	16,761
Goodwill	2,628	2,628
Federal income tax recoverable	2,657	2,933
Other assets	3,250	4,334
Total assets	429,666	278,703
Liabilities:
Unpaid losses and loss adjustment expenses	72,619	59,632
Unearned premiums	92,194	57,445
Reinsurance payable	6,018	39
Deferred income taxes, net	4,024	2,915
Accrued expenses and other liabilities	12,027	5,254
Commitments and Contingencies
Total liabilities	186,882	125,285
Equity:
Common stock, $0.01 par value, authorized 25,000,000 shares, issued: 2017 - 23,000,000 shares, 2016 - none; and outstanding: 2017 - 22,313,329 shares, 2016 - none	230
Preferred stock, without par value, authorized 5,000,000 shares, no shares issued or outstanding
Additional paid-in capital	92,915
Unearned employee stock ownership plan shares	(2,400)
Retained earnings	144,409	139,591
Accumulated other comprehensive income, net of tax	12,070	10,305
Treasury stock, at cost, 2017 - 446,671 shares, 2016 - none	(8,037)
Non-controlling interest	3,597	3,522
Total equity	242,784	153,418
Total liabilities and equity	$ 429,666	$ 278,703

Unaudited Consolidated Balance3

Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	23,000,000	23,000,000
Common stock, shares issued	23,000,000	0
Common stock, shares outstanding	22,313,329	0
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury stock, shares	446,671	0

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Net premiums earned	$ 45,653	$ 37,136	$ 78,462	$ 67,251
Fee and other income	321	508	668	812
Net investment income	1,447	1,182	2,590	2,315
Net realized capital gain on investments	339	130	955	219
Total revenues	47,760	38,956	82,675	70,597
Expenses:
Losses and loss adjustment expenses	36,230	31,096	53,951	42,585
Amortization of deferred policy acquisition costs	6,301	6,193	11,310	10,234
Other underwriting and general expenses	5,268	4,333	10,422	10,742
Total expenses	47,799	41,622	75,683	63,561
Income (loss) before income taxes	(39)	(2,666)	6,992	7,036
Income taxes	(156)	(847)	2,126	2,636
Net income (loss)	117	(1,819)	4,866	4,400
Net income (loss) attributable to non-controlling interest	(12)	(57)	48	(52)
Net income (loss) attributable to NI Holdings, Inc.	$ 129	$ (1,762)	$ 4,818	$ 4,452
Earnings per common share:
Weighted average shares outstanding	22,663,280		22,711,373
Basic and diluted net income per share	$ 0.01		$ 0.21

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income (loss)	$ 117	$ (1,819)	$ 4,866	$ 4,400
Other comprehensive income, before income taxes:
Holding gains on investments	2,995	2,283	3,711	5,621
Reclassification adjustment for net realized capital loss (gain) included in net income	(339)	(130)	(955)	(219)
Other comprehensive income, before income taxes	2,656	2,153	2,756	5,402
Income tax expense related to items of other comprehensive income	(929)	(754)	(964)	(1,891)
Other comprehensive income, net of income taxes	1,727	1,399	1,792	3,511
Comprehensive income	1,844	(420)	6,658	7,911
Attributable to Non-Controlling Interest [Member]
Net income (loss)	(12)	(57)	48	(52)
Other comprehensive income, before income taxes:
Holding gains on investments	40	61	14	139
Reclassification adjustment for net realized capital loss (gain) included in net income	27	(10)	27	10
Other comprehensive income, before income taxes	67	51	41	149
Income tax expense related to items of other comprehensive income	(23)	(18)	(14)	(52)
Other comprehensive income, net of income taxes	44	33	27	97
Comprehensive income	32	(24)	75	45
Attributable to NI Holdings, [Member]
Net income (loss)	129	(1,762)	4,818	4,452
Other comprehensive income, before income taxes:
Holding gains on investments	2,955	2,222	3,697	5,482
Reclassification adjustment for net realized capital loss (gain) included in net income	(366)	(120)	(982)	(229)
Other comprehensive income, before income taxes	2,589	2,102	2,715	5,253
Income tax expense related to items of other comprehensive income	(906)	(736)	(950)	(1,839)
Other comprehensive income, net of income taxes	1,683	1,366	1,765	3,414
Comprehensive income	$ 1,812	$ (396)	$ 6,583	$ 7,866

Unaudited Consolidated Stateme6

Unaudited Consolidated Statement of Changes in Equity - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Unearned Employee Stock Ownership Plan Shares [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]	Non-controlling Interest [Member]	Total
Beginning Balance at Dec. 31, 2016				$ 139,591	$ 10,305		$ 3,522	$ 153,418
Issuance of common stock	230	92,915	(2,400)					90,745
Net income				4,818			48	4,866
Purchase of treasury stock						(8,037)		(8,037)
Other comprehensive income, net of income taxes					1,765		27	1,792
Ending Balance at Jun. 30, 2017	$ 230	$ 92,915	$ (2,400)	$ 144,409	$ 12,070	$ (8,037)	$ 3,597	$ 242,784

Unaudited Consolidated Stateme7

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net income	$ 4,866	$ 4,400
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized capital gains on investments	(955)	(219)
Deferred income taxes, net		292
Depreciation of property and equipment	249	220
Amortization of intangibles	21	31
Amortization of deferred policy acquisition costs	11,310	10,234
Deferral of policy acquisition costs	(16,494)	(12,367)
Net amortization of premiums and discounts on investments	593	405
Changes in assets and liabilities which provided (used) cash:
Premiums and agents balances receivable	(48,894)	(10,407)
Reinsurance premiums receivable	(2,448)
Reinsurance recoverables on losses	(3,200)	(16,077)
Accrued investment income	(547)	(57)
Receivable from Federal Crop Insurance Corporation	4,264	(18,174)
Federal income tax recoverable	276	(1,528)
Other assets	912	(1,949)
Unpaid losses and loss adjustment expenses	12,987	21,779
Unearned premiums	34,749	20,871
Reinsurance payables	5,979	8,530
Accrued expenses and other liabilities	6,781	2,139
Net cash provided by operating activities	10,449	8,123
Cash flows from investing activities:
Proceeds from sales of fixed income securities	11,712	10,968
Proceeds from sales of equity securities	2,904	368
Purchases of fixed income securities	(88,151)	(19,305)
Purchases of equity securities	(19,252)	(1,813)
Purchases of property and equipment, net	(542)	(261)
Other	2	74
Net cash used in investing activities	(93,327)	(9,969)
Cash flows from financing activities:
Proceeds from issuance of common stock	93,145
Purchases of treasury stock	(8,037)
Loan to employee stock ownership plan	(2,400)
Net cash provided by financing activities	82,708
Net decrease in cash and cash equivalents	(170)	(1,846)
Cash and cash equivalents at beginning of period	18,318	14,521
Cash and cash equivalents at end of period	$ 18,148	$ 12,675

Organization

Organization	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization NI Holdings, Inc. (“NI Holdings”) is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly owned stock subsidiary of NI Holdings. Prior to completion of the conversion, NI Holdings conducted no business and had no assets or liabilities. As a result of the conversion, NI Holdings became the holding company for Nodak Insurance Company and its existing subsidiaries. The newly issued shares of NI Holdings were available for public trading on March 16, 2017. The consolidated financial statements of NI Holdings consist primarily of five entities: Nodak Insurance Company (“Nodak Insurance”, formerly Nodak Mutual Insurance Company prior to the conversion), Nodak Agency, Inc. (“Nodak Agency”), American West Insurance Company (“American West”), Primero Insurance Company (“Primero”), and an affiliated company, Battle Creek Mutual Insurance Company (“Battle Creek”). Nodak Insurance is the largest domestic property and casualty insurance company in North Dakota. Nodak Insurance was incorporated on April 15, 1946 under the laws of North Dakota, and has benefitted from a strong marketing affiliation with the North Dakota Farm Bureau. Nodak Insurance is a leading writer of property and casualty insurance in North Dakota, specializing in providing private passenger auto, homeowners, farmowners, commercial, crop hail, and Federal crop insurance coverages. Nodak Agency, a wholly-owned subsidiary of Nodak Insurance, is a non-active shell corporation. American West, a wholly-owned subsidiary of Nodak Insurance, is a property and casualty insurance company licensed in eight states in the Midwest and Western regions of the United States. American West began writing policies in 2002 and currently writes in Minnesota, North Dakota and South Dakota. Primero Insurance Company is a wholly-owned subsidiary of Tri-State, Ltd. Tri-State, Ltd. is an inactive shell corporation 100% owned by Nodak Insurance. Primero is a property and casualty insurance company writing non-standard automobile coverage in the states of Nevada, Arizona, North Dakota and South Dakota. Battle Creek is controlled by Nodak Insurance via a surplus note and 100% quota share agreement. The terms of the surplus note and quota share agreement allow Nodak Insurance to appoint two-thirds of the Board of Directors. Battle Creek is a property and casualty insurance company writing personal auto, homeowners, and farm coverages solely in the state of Nebraska. The same executive management and underwriting personnel administer products, classes of business, pricing practices, and underwriting standards of Nodak Insurance and its insurance subsidiaries. In addition, the insurance companies share a combined business plan to achieve market penetration and underwriting profitability objectives. Distinctions within the products of the insurance companies generally relate to the states in which the risk is located and specific risk profiles targeted within similar classes of business.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation Our consolidated financial statements, which we have prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), include our accounts and those of our wholly owned subsidiaries, as well as Battle Creek, an entity we control via contract. We have eliminated all significant inter-company accounts and transactions in consolidation. The terms “we”, “us”, “our”, or the “Company” as used herein refer to the consolidated entity.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Use of Estimates: In preparing our consolidated financial statements, our management makes estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet and revenues and expenses for the period then ended. Actual results could differ significantly from those estimates. We make estimates and assumptions that can have a significant effect on amounts and disclosures we report in our consolidated financial statements. The most significant estimates relate to our reserves for unpaid losses and loss adjustment expenses, valuation of investments, determination of other-than-temporary impairments, valuation allowances for deferred income tax assets, and deferred policy acquisition costs. While we believe our estimates are appropriate, the ultimate amounts may differ from the estimates provided. We regularly review our methods for making these estimates as well as the continuing appropriateness of the estimated amounts, and we reflect any adjustment we consider necessary in our current results of operations. Variable-Interest Entities: Any company deemed to be a variable interest entity (“VIE”) is required to be consolidated by the primary beneficiary of the VIE. We assess our investments in other entities at inception to determine if any meet the qualifications of a VIE. We consider an investment in another company to be a VIE if either (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) the characteristics of a controlling financial interest are missing (either the ability to make decisions through voting or other rights, the obligation to absorb expected losses of the entity or the right to receive the expected residual returns of the entity), or (c) the voting rights of the equity holders are not proportional to their obligations to absorb the expected losses of the entity and/or the rights to receive the expected residual returns of the entity, and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Upon the occurrence of certain events, we would reassess our initial determination of whether the investment is a VIE. We evaluate whether we are the primary beneficiary of each VIE and we consolidate the VIE if we have both (1) the power to direct the economically significant activities of the entity and (2) the obligation to absorb losses of, or the right to receive benefits from, the entity. We consider the contractual agreements that define the ownership structure, distribution of profits and losses, risks, responsibilities, indebtedness, voting rights, and board representation of the respective parties in determining whether we qualify as the primary beneficiary. Our assessment of whether we are the primary beneficiary of a VIE is performed at least annually. We control Battle Creek via a 100% quota share reinsurance agreement between Nodak Insurance and Battle Creek, as well as the ability to control a majority of the Board of Directors of Battle Creek. Through the effects of the 100% quota share agreement with Battle Creek, we are considered the primary beneficiary of Battle Creek’s operating results excluding investment income, bad debt expense, and income taxes. Therefore, we consolidate Battle Creek, and Battle Creek’s policyholders’ interest in Battle Creek is reflected as a non-controlling interest in equity in our consolidated balance sheet. Cash and Cash Equivalents: Cash and cash equivalents include certain investments in highly liquid debt instruments with original maturities of three months or less. Cost approximates fair value for these short term investments. Investments: We have categorized our investment portfolio as “available-for-sale” and have reported the portfolio at fair value, with unrealized gains and losses, net of income tax, reported in accumulated other comprehensive income. Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Amortization of premium and accretion of discount are computed using an effective interest method. Realized gains and losses are determined using the specific identification method and included in the determination of income. Net investment income includes interest and dividend income together with amortization of purchase premiums and discounts, and is net of investment management and custody fees. We review our investments each quarter to determine whether a decline in fair value below the amortized cost basis is other than temporary. Accordingly, we assess whether we intend to sell or it is more likely than not that we will be required to sell a security before recovery of its amortized cost basis less any current-period credit losses. For debt securities that are considered other-than-temporarily impaired and that we do not intend to sell and will not be required to sell prior to recovery of the amortized cost basis, we separate the amount of the impairment into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit related and, therefore, is not required to be recognized as losses in the consolidated statement of operations, but is recognized in other comprehensive income. We classify each fair value measurement at the appropriate level in the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted market price in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). An asset’s or liability’s classification within the fair value hierarchy is based on the lowest level of significant input to its valuation. Level I – Quoted price in active markets for identical assets and liabilities. Level II – Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. Level II inputs include quoted prices for similar assets or liabilities other than quoted in prices in Level I; quoted prices in markets that are not active; or other inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level III – Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions that market participants would use in pricing the asset or liability. Level III assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Fair Value of Other Financial Instruments: Our other financial instruments aside from investments are cash and cash equivalents, premium and agents’ balances receivable, and accrued expenses and accounts payable. The carrying amounts for cash and cash equivalents, premium and agents’ balances receivable, and accrued expenses and accounts payable approximate their fair value based on their short-term nature. Other invested assets that do not have observable inputs and little or no market activity are carried on a cost basis. The carrying value of these other invested assets was $1,972 at June 30, 2017 and December 31, 2016. Reclassifications: Certain amounts in 2016 have been reclassified to conform to the 2017 presentation. Revenue Recognition: We record premiums written at policy inception and recognize them as revenue on a pro rata basis over the policy term or, in the case of crop insurance, over the period of risk. The portion of premiums that could be earned in the future is deferred and reported as unearned premiums. When policies lapse, the Company reverses the unearned portion of the written premium and removes the applicable unearned premium. Policy-related fee income is recognized when collected. The Company uses the direct write-off method for recognizing bad debts. Accounts are deemed to be delinquent after 60 days except for those accounts associated with amounts due from insureds for premiums in which case policy cancellation procedures are commenced in accordance with state insurance regulations. Any earned but uncollected premiums are written off immediately upon the effective date of policy cancellation. Policy Acquisition Costs: We defer our policy acquisition costs, consisting primarily of commissions, premium taxes and certain other underwriting costs, reduced by ceding commissions, which vary with and relate directly to the production of business. We amortize these deferred policy acquisition costs over the period in which we earn the premiums. The method we follow in computing deferred policy acquisition costs limits the amount of such deferred costs to their estimated realizable value, which gives effect to the premium to be earned, related investment income, losses and loss adjustment expenses, and certain other costs we expect to incur as we earn the premium. Property and Equipment: We report property and equipment at cost less accumulated depreciation. Depreciation is computed using the straight-line method based upon the estimated useful lives of the assets. Loss and Loss Adjustment Expenses: Liabilities for losses and loss adjustment expenses are estimates at a given point in time of the amounts we expect to pay with respect to policyholder claims based on facts and circumstances then known. At the time of establishing our estimates, we recognize that our ultimate liability for losses and loss adjustment expenses will exceed or be less than such estimates. We base our estimates of liabilities for losses and loss adjustment expenses on assumptions as to future loss trends, expected claims severity, judicial theories of liability, and other factors. During the loss adjustment period, we may learn additional facts regarding certain claims, and, consequently, it often becomes necessary for us to refine and adjust our estimates of liability. We reflect any adjustments to our liabilities for losses and loss adjustment expenses in our operating results in the period in which we determine the need for a change in the estimates. We maintain liabilities for the payment of losses and loss adjustment expenses with respect to both reported and unreported claims. We establish these liabilities for the purpose of covering the ultimate costs of settling all losses, including investigation and litigation costs. We base the amount of our liability for reported losses primarily upon a case-by-case evaluation of the type of risk involved, knowledge of the circumstances surrounding each claim, and the insurance policy provisions relating to the type of loss our policyholder incurred. We determine the amount of our liability for unreported claims and loss adjustment expenses on the basis of historical information by line of insurance. We account for inflation in the reserving function through analysis of costs and trends and reviews of historical reserving results. We closely monitor our liabilities and update them periodically using new information on reported claims and a variety of statistical techniques. We do not discount our liabilities for unpaid losses and loss adjustment expense. Reserve estimates can change over time because of unexpected changes in assumptions related to our external environment and, to a lesser extent, assumptions as to our internal operations. Assumptions related to our external environment include the absence of significant changes in tort law and the legal environment which may impact liability exposure, the trends in judicial interpretations of insurance coverage and policy provisions, and the rate of loss cost inflation. Internal assumptions include consistency in the recording of premium and loss statistics, consistency in the recording of claims, payment and case reserving methodologies, accurate measurement of the impact of rate changes and changes in policy provisions, consistency in the quality and characteristics of business written within a given line of business, and consistency in reinsurance coverage and collectability of reinsured losses, among other items. To the extent we determine that underlying factors impacting our assumptions have changed, we attempt to make appropriate adjustments for such changes in our reserves. Accordingly, our ultimate liability for unpaid losses and loss adjustment expenses will likely differ from the amount recorded. Income Taxes: With the exception of Battle Creek, which files a stand-alone federal income tax return, we file a consolidated federal income tax return. The Company reports any tax related interest and penalties as part of income tax expense in the year such amounts are determinable. We account for income taxes using the asset and liability method. The objective of the asset and liability method is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of our assets and liabilities at enacted tax rates expected to be in effect when we realize or settle such amounts. Credit Risk: Our objective is to earn competitive returns by investing in a diversified portfolio of securities. Our portfolio of fixed income securities and, to a lesser extent, short-term investments, is subject to credit risk. We define this risk as the potential loss in fair value resulting from adverse changes in the borrower’s ability to repay the debt. We manage this risk by performing an analysis of prospective investments and through regular reviews of our portfolio by our investment staff and advisors. We also limit the amount of our total investment portfolio that we invest in any one security. Property and liability insurance coverages are marketed through captive agents in North Dakota and through independent insurance agencies located throughout all other operating areas. All business is billed directly to policyholders. We maintain cash balances primarily at one bank, which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250. During the normal course of business, balances are maintained above the FDIC insurance limit. The Company maintains short-term investment balances in investment grade money market accounts that are insured by the Securities Investor Protection Corporation (“SIPC”) up to $500. On occasion, balances for these accounts are maintained in excess of the SIPC insurance limit. Reinsurance: The Company limits the maximum net loss that can arise from large risks or risks in concentrated areas of exposure by reinsuring (ceding) certain levels of risks to other insurers or reinsurers, either on an automatic basis under general reinsurance contracts knows as “treaties” or by negotiation on substantial individual risks. Ceded reinsurance is treated as the risk and liability of the assuming companies. In the event that all or any of the reinsuring companies might be unable to meet their obligations under existing reinsurance agreements, the Company would be liable for such defaulted amounts. Goodwill and Other Intangible Assets: Goodwill represents the excess of the purchase price over the underlying fair value of acquired entities. When completing acquisitions, we seek also to identify separately identifiable intangible assets that we have acquired. We assess goodwill and intangible assets with an indefinite useful life for impairment annually. We also assess goodwill and other intangible assets for impairment upon the occurrence of certain events. In making our assessment, we consider a number of factors including operating results, business plans, economic projections, anticipated future cash flows, and current market data. Inherent uncertainties exist with respect to these factors and to our judgment in applying them when we make our assessment. Impairment of goodwill and other intangible assets could result from changes in economic and operating conditions in future periods. We did not record any impairments of goodwill or other intangible assets during the six months ended June 30, 2017, or the year ended December 31, 2016. Goodwill representing the excess of the purchase price over the fair value of the net assets acquired is reported separately in the consolidated balance sheet. The purchase price in excess of the fair value of net assets acquired was negotiated at arms-length with an unrelated party and was based upon the strategic decision by Company management to expand both the geographic footprint and product lines of the Company. The nature of the business acquired was such that there were limited intangible assets not reflected in the net assets acquired. The purchase price was paid with a combination of cash and cancellation of obligations owed to the acquired company by the sellers. The goodwill which arose from this transaction is included in the basis of the net assets acquired and this is not deductible for tax purposes. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued guidance that establishes the manner in which an entity recognizes the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. While the guidance will replace most existing GAAP revenue recognition guidance, the scope of the guidance excludes insurance contracts. The new standard is effective on January 1, 2018. The standard permits the use of either the retrospective or the cumulative effect transition method. We do not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations, or cash flows. In January 2016, the FASB issued guidance that generally requires entities to measure equity investments at fair value and recognize changes in fair value in their results of operations. The guidance also simplifies the impairment assessment of equity investments, without readily determinable fair values by requiring entities to perform a qualitative assessment to identify impairment. The FASB issued other disclosure and presentation improvements related to financial instruments within the guidance. The guidance is effective for annual and interim reporting periods beginning after December 15, 2017. We do not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations, or cash flows. In February 2016, the FASB issued guidance that requires lessees to recognize leases, including operating leases, on the lessee’s balance sheet, unless a lease is considered a short-term lease. The guidance also requires entities to make new judgments to identify leases. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018 and permits early adoption. We do not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations, or cash flows. In June 2016, the FASB issued a new standard that will require timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The guidance will require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better form their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the guidance requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. Finally, the guidance amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We are evaluating the impact this new guidance will have on our financial position, results of operations, and cash flows.

Investments

Investments	6 Months Ended
	Jun. 30, 2017
Marketable Securities [Abstract]
Investments	4. Investments The following tables show the cost or amortized cost, gross unrealized gains and losses, and fair value of the Company’s fixed income and equity securities: June 30, 2017 Cost or Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 7,796 $ 244 $ (37 ) $ 8,003 Obligations of states and political subdivisions 85,042 1,541 (135 ) 86,448 Corporate securities 90,086 1,415 (230 ) 91,271 Residential mortgage-backed securities 30,616 163 (191 ) 30,588 Commercial mortgage-backed securities 7,498 116 (9 ) 7,605 Asset-backed securities 14,900 36 (13 ) 14,923 Total fixed income securities 235,938 3,515 (615 ) 238,838 Equity securities: Basic materials 1,117 39 (6 ) 1,150 Communications 3,285 1,121 (176 ) 4,230 Consumer, cyclical 4,095 3,914 (137 ) 7,872 Consumer, non-cyclical 6,646 3,401 (145 ) 9,902 Energy 2,008 231 (319 ) 1,920 Financial 1,701 831 — 2,532 Industrial 5,232 3,052 (33 ) 8,251 Technology 4,768 4,116 (154 ) 8,730 Total equity securities 28,852 16,705 (970 ) 44,587 Total investments $ 264,790 $ 20,220 $ (1,585 ) $ 283,425 December 31, 2016 Cost or Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 5,834 $ 260 $ (44 ) $ 6,050 Obligations of states and political subdivisions 68,915 882 (401 ) 69,396 Corporate securities 50,610 1,028 (468 ) 51,170 Residential mortgage-backed securities 22,750 102 (215 ) 22,637 Commercial mortgage-backed securities 8,033 104 (41 ) 8,096 Asset-backed securities 4,118 17 (14 ) 4,121 Total fixed income securities 160,260 2,393 (1,183 ) 161,470 Equity securities: Basic materials 90 13 (1 ) 102 Communications 1,307 1,601 (81 ) 2,827 Consumer, cyclical 1,665 3,646 (50 ) 5,261 Consumer, non-cyclical 2,015 2,411 (208 ) 4,218 Energy 1,053 234 — 1,287 Financial 314 277 — 591 Industrial 2,251 2,766 — 5,017 Technology 2,816 3,855 (57 ) 6,614 Total equity securities 11,511 14,803 (397 ) 25,917 Total investments $ 171,771 $ 17,196 $ (1,580 ) $ 187,387 The amortized cost and estimated fair value of fixed income securities by contractual maturity are shown below. Actual maturities could differ from contractual maturities because issuers of the securities may have the right to call or prepay certain obligations, which may or may not include call or prepayment penalties. June 30, 2017 Amortized Cost Fair Value Due to mature: One year or less $ 15,866 $ 15,970 After one year through five years 83,912 85,418 After five years through ten years 71,623 72,738 After ten years 11,523 11,596 Mortgage / asset backed securities 53,014 53,116 Total fixed income securities $ 235,938 $ 238,838 December 31, 2016 Amortized Cost Fair Value Due to mature: One year or less $ 10,935 $ 11,069 After one year through five years 45,904 46,891 After five years through ten years 55,430 55,619 After ten years 13,090 13,037 Mortgage / asset backed securities 34,901 34,854 Total fixed income securities $ 160,260 $ 161,470 Fixed income securities with a market value of $3,539 at June 30, 2017 and $3,530 at December 31, 2016 were deposited with various state regulatory agencies as required by law. The Company has not pledged any assets to secure any obligations. The investment category and duration of the Company’s gross unrealized losses on fixed income securities and equity securities were as follows: June 30, 2017 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and $ 3,489 $ (37 ) $ — $ — $ 3,489 $ (37 ) Obligations of states and 13,148 (132 ) 248 (3 ) 13,396 (135 ) Corporate securities 24,068 (77 ) 1,179 (153 ) 25,247 (230 ) Residential mortgage- 16,373 (191 ) — — 16,373 (191 ) Commercial mortgage- 1,528 (9 ) — — 1,528 (9 ) Asset-backed securities 6,423 (13 ) — — 6,423 (13 ) Total fixed income 65,029 (459 ) 1,427 (156 ) 66,456 (615 ) Equity securities: Basic materials 381 (6 ) — — 381 (6 ) Communications 1,527 (176 ) — — 1,527 (176 ) Consumer, cyclical 514 (137 ) — — 514 (137 ) Consumer, non-cyclical 1,446 (36 ) 266 (109 ) 1,712 (145 ) Energy 1,764 (319 ) — — 1,764 (319 ) Industrial 374 (33 ) — — 374 (33 ) Technology 1,294 (109 ) 196 (45 ) 1,490 (154 ) Total equity securities 7,300 (816 ) 462 (154 ) 7,762 (970 ) Total investments $ 72,329 $ (1,275 ) $ 1,889 $ (310 ) $ 74,218 $ (1,585 ) December 31, 2016 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 2,750 $ (44 ) $ — $ — $ 2,750 $ (44 ) Obligations of states and political subdivisions 16,559 (396 ) 245 (5 ) 16,804 (401 ) Corporate securities 13,479 (175 ) 2,006 (293 ) 15,485 (468 ) Residential mortgage-backed securities 15,692 (215 ) — — 15,692 (215 ) Commercial mortgage-backed securities 2,513 (41 ) — — 2,513 (41 ) Asset-backed securities 2,291 (14 ) — — 2,291 (14 ) Total fixed income securities 53,284 (885 ) 2,251 (298 ) 55,535 (1,183 ) Equity securities: Basic materials 32 (1 ) — — 32 (1 ) Communications 167 (81 ) — — 167 (81 ) Consumer, cyclical 63 (5 ) 174 (45 ) 237 (50 ) Consumer, non-cyclical 239 (208 ) — — 239 (208 ) Technology 543 (57 ) — — 543 (57 ) Total equity securities 1,044 (352 ) 174 (45 ) 1,218 (397 ) Total investments $ 54,328 $ (1,237 ) $ 2,425 $ (343 ) $ 56,753 $ (1,580 ) We frequently review our investment portfolio for declines in fair value which are other than temporary. Our process for identifying declines in the fair value of investments that are other than temporary involves consideration of several factors. These factors include (i) the time period in which there has been a significant decline in value, (ii) an analysis of the liquidity, business prospects and overall financial condition of the issuer, (iii) the significance of the decline, and (iv) our intent and ability to hold the investment for a sufficient period of time for the value to recover. When our analysis of the above factors results in the conclusion that declines in fair values are other than temporary, the cost of the securities is written down to fair value and the previously unrealized loss is therefore reflected as a realized loss. The Company recorded an impairment of $206 in the three months and six months ended June 30, 2017, and did not record any impairment in the three months or six months ended June 30, 2016. As of June 30, 2017, we held 152 fixed income securities with unrealized losses. As of December 31, 2016, we held 129 fixed income securities with unrealized losses. In conjunction with our outside investment advisors, we analyzed the credit ratings of the securities as well as the historical monthly amortized cost to fair value ratio of securities in an unrealized loss position. This analysis yielded no fixed income securities which had fair values less than 80% of amortized cost values for the preceding 12-month period. Net investment income consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Fixed income securities $ 1,617 $ 1,227 $ 2,961 $ 2,403 Equity securities 93 99 163 207 Real estate 231 105 461 342 Cash and cash equivalents (3 ) — (6 ) — Total gross investment income 1,938 1,431 3,579 2,952 Investment expenses 491 249 989 637 Net investment income $ 1,447 $ 1,182 $ 2,590 $ 2,315 Net realized capital gain on investments consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Gross realized gains $ 552 $ 174 $ 1,180 $ 514 Gross realized losses, excluding other (213 ) (44 ) (225 ) (295 ) Net realized capital gain on investments $ 339 $ 130 $ 955 $ 219

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Investments, All Other Investments [Abstract]
Fair Value Measurements	5. Fair Value Measurements We maximize the use of observable inputs in our valuation techniques and apply unobservable inputs only to the extent that observable inputs are unavailable. The largest class of assets and liabilities carried at fair value by the Company at June 30, 2017 and December 31, 2016 were fixed income securities. Prices provided by independent pricing services and independent broker quotes can vary widely, even for the same security. Our available-for-sale investments are comprised of a variety of different securities, which are classified into levels based on the valuation technique and inputs used in their valuation. The valuation of cash equivalents and equity securities are generally based on Level I inputs, which use the market approach valuation technique. The valuation of fixed income securities generally incorporates significant Level II inputs using the market and income approach techniques. We may assign a lower level to inputs typically considered to be Level II based on our assessment of liquidity and relative level of uncertainty surrounding inputs. There were no assets or liabilities classified as Level III at June 30, 2017 or December 31, 2016. The following tables set forth our assets which are measured on a recurring basis by the level within the fair value hierarchy in which fair value measurements fall: June 30, 2017 Total Level I Level II Level II Fixed income securities: U.S. Government and agencies $ 8,003 $ — $ 8,003 $ — Obligations of states and political subdivisions 86,448 — 86,448 — Corporate securities 91,271 — 91,271 — Residential mortgage-backed securities 30,588 — 30,588 — Commercial mortgage-backed securities 7,605 — 7,605 — Asset-backed securities 14,923 — 14,923 — Total fixed income securities 238,838 — 238,838 — Equity securities: Basic materials 1,150 1,150 — — Communications 4,230 4,230 — — Consumer, cyclical 7,872 7,872 — — Consumer, non-cyclical 9,902 9,902 — — Energy 1,920 1,920 — — Financial 2,532 2,532 — — Industrial 8,251 8,251 — — Technology 8,730 8,730 — — Total equity securities 44,587 44,587 — — Cash and cash equivalents 18,148 18,148 — — Total assets at fair value $ 301,573 $ 62,735 $ 238,838 $ — December 31, 2016 Total Level I Level II Level III Fixed income securities: U.S. Government and agencies $ 6,050 $ — $ 6,050 $ — Obligations of states and political subdivisions 69,396 — 69,396 — Corporate securities 51,170 — 51,170 — Residential mortgage-backed securities 22,637 — 22,637 — Commercial mortgage-backed securities 8,096 — 8,096 — Asset-backed securities 4,121 — 4,121 — Total fixed income securities 161,470 — 161,470 — Equity securities: Basic materials 102 102 — — Communications 2,827 2,827 — — Consumer, cyclical 5,261 5,261 — — Consumer, non-cyclical 4,218 4,218 — — Energy 1,287 1,287 — — Financial 591 591 — — Industrial 5,017 5,017 — — Technology 6,614 6,614 — — Total equity securities 25,917 25,917 — — Cash and cash equivalents 18,318 18,318 — — Total assets at fair value $ 205,705 $ 44,235 $ 161,470 $ — There were no liabilities measured at fair value on a recurring basis at June 30, 2017 or December 31, 2016.

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2017
Reinsurance Disclosures [Abstract]
Reinsurance	6. Reinsurance The Company will assume and cede certain premiums and losses to and from various companies and associations under various reinsurance agreements. The Company seeks to limit the maximum net loss that can arise from large risks or risks in concentrated areas of exposure through use of these agreements, either on an automatic basis under general reinsurance contracts known as treaties or by negotiation on substantial individual risks. Reinsurance contracts do not relieve the Company from its obligation to policyholders. Additionally, failure of reinsurers to honor their obligations could result in significant losses to us. There can be no assurance that reinsurance will continue to be available to us at the same extent, and at the same cost, as it has in the past. The Company may choose in the future to reevaluate the use of reinsurance to increase or decrease the amounts of risk ceded to reinsurers. As a group at December 31, 2016, the Company retained $5,000 of losses from catastrophic events and had reinsurance under various reinsurance agreements up to $74,600 in excess of its $5,000 retained risk. Effective January 1, 2017, the catastrophic retention amount was increased to $10,000, and the Company maintained the coverage up to $74,600. The Company actively monitors and evaluates the financial condition of the reinsurers and develops estimates of the uncollectible amounts due from reinsurers. Such estimates are made based on periodic evaluation of balances due from reinsurers, judgments regarding reinsurers’ solvency, known disputes, reporting characteristics of the underlying reinsured business, historical experience, current economic conditions, and the state of reinsurer relations in general. Collection risk is mitigated from reinsurers by entering into reinsurance arrangements only with reinsurers that have strong credit ratings and statutory surplus above certain levels. The Company’s largest reinsurance recoverables on paid and unpaid losses were due from reinsurance companies with A.M. Best ratings of A or higher. A reconciliation of direct to net premiums on both a written and an earned basis is as follows: Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Premiums Premiums Premiums Premiums Direct premium $ 83,671 $ 48,564 $ 120,051 $ 82,680 Assumed premium 3,396 3,368 4,591 4,539 Ceded premium (8,953 ) (6,279 ) (11,431 ) (8,757 ) Net premiums $ 78,114 $ 45,653 $ 113,211 $ 78,462 Percentage of assumed earned 7.4% 5.8% Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Premiums Premiums Premiums Premiums Direct premium $ 77,753 $ 38,789 $ 111,569 $ 70,970 Assumed premium 5,926 5,933 7,430 7,413 Ceded premium (27,331 ) (7,586 ) (30,877 ) (11,132 ) Net premiums $ 56,348 $ 37,136 $ 88,122 $ 67,251 Percentage of assumed earned 16.0% 11.0% A reconciliation of direct to net losses and loss adjustment expenses is as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Direct losses and LAE $ 36,093 $ 39,490 $ 55,735 $ 51,348 Assumed losses and LAE 2,024 2,979 2,613 3,821 Ceded losses and LAE (1,887 ) (11,373 ) (4,397 ) (12,584 ) Net losses and LAE $ 36,230 $ 31,096 $ 53,951 $ 42,585 If 100% of our ceded reinsurance was cancelled as of June 30, 2017 or December 31, 2016, no ceded commissions would need to be returned to the reinsurers.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	6 Months Ended
	Jun. 30, 2017
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	7. Deferred Policy Acquisition Costs Activity with regards to our deferred policy acquisition costs was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Balance, beginning of period $ 9,681 $ 8,657 $ 8,942 $ 8,444 Deferral of policy acquisition costs 10,746 8,113 16,494 12,367 Amortization of deferred policy acquisition costs (6,301 ) (6,193 ) (11,310 ) (10,234 ) Balance, end of period $ 14,126 $ 10,577 $ 14,126 $ 10,577

Unpaid Losses and Loss Adjustme

Unpaid Losses and Loss Adjustment Expenses	6 Months Ended
	Jun. 30, 2017
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Unpaid Losses and Loss Adjustment Expenses	8. Unpaid Losses and Loss Adjustment Expenses Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Six Months Ended Year Ended Balance at beginning of year: Liability for unpaid losses and loss adjustment expense $ 59,632 $ 45,342 Reinsurance ceded 7,192 5,109 Net balance at beginning of year 52,440 40,233 Incurred related to: Current year 58,917 123,264 Prior years (4,966 ) (4,756 ) Total incurred 53,951 118,508 Paid related to: Current year 23,782 90,772 Prior years 20,382 15,529 Total paid 44,164 106,301 Balance at end of period: Liability for unpaid losses and loss adjustment expense 72,619 59,632 Reinsurance ceded 10,392 7,192 Net balance at end of period $ 62,227 $ 52,440 The prior years’ provision for unpaid losses and loss adjustment expenses decreased by $4,966 during the six months ended June 30, 2017, and decreased $4,756 during the year ended December 31, 2016. The decrease is generally the result of ongoing analysis of loss development trends. As additional information becomes known regarding individual claims, original estimates are increased or decreased accordingly.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	9. Property and Equipment Property and equipment consisted of the following: June 30, December 31, Estimated Cost: Real estate $ 10,090 $ 9,578 10 - 31 years Electronic data processing equipment 1,606 1,637 5-7 years Furniture and fixtures 3,762 3,762 5-7 years Automobiles 1,548 1,488 2-3 years Total cost 17,006 16,465 Accumulated depreciation (11,743 ) (11,646 ) Total property and equipment, net $ 5,263 $ 4,819 Depreciation expense was $125 and $94 for the three months ended June 30, 2017 and 2016, and $249 and $220 for the six months ended June 30, 2017 and 2016.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	10. Earnings Per Share As described in Note 1, the conversion of the mutual company to a stock company resulted in the issuance of NI Holdings common shares on March 13, 2017. Earnings per share are computed by dividing net income available to common shareholders for the period by the weighted average number of common shares outstanding for the same period. The weighted average number of common shares outstanding was 22,663,280 for the three months ended June 30, 2017, and 22,711,373 for the six months ended June 30, 2017. For the period prior to the date of the conversion, we assumed that the net common shares issued in the initial public offering of 22,760,000 shares were outstanding since January 1, 2017. There were no potentially dilutive common shares or other instruments outstanding during this period. Unearned ESOP shares are not considered outstanding until they are released and allocated to plan participants. Our Board of Directors has approved an authorization for the repurchase of up to $8 million of the Company’s outstanding common stock. We purchased 446,671 shares of our common stock for $8,037 during the three months ended June 30, 2017, and reflected the cost of this treasury stock as a reduction of equity within our consolidated balance sheet as of June 30, 2017.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions We were organized by the North Dakota Farm Bureau (“NDFB”) to provide insurance protection for its members. We have a royalty agreement with the NDFB which recognizes the use of their trademark and provides royalties to the NDFB based on the premiums written on Nodak Insurance’s insurance policies. Royalties paid to the NDFB were $357 and $342 during the three months ended June 30, 2017 and 2016, and $651 and $627 during the six months ended June 30, 2017 and 2016. Royalties of $156 and $96 were accrued as liabilities to the NDFB at June 30, 2017 and December 31, 2016. The following table illustrates the impact of including Battle Creek in our consolidated balance sheets prior to intercompany eliminations: June 30, 2017 December 31, 2016 Cash and cash equivalents (overdraft) $ (92 ) $ 124 Investments 4,436 4,290 Premiums and agents’ balances receivable 3,658 2,841 Reinsurance recoverables on losses (eliminated in consolidation) 24,082 19,299 Accrued investment income 31 31 Deferred income tax asset, net 850 915 Property and equipment 376 331 Other assets 120 55 Total assets $ 33,461 $ 27,886 Unpaid losses and loss adjustment expenses $ 11,347 $ 8,917 Unearned premiums 12,735 10,382 Notes payable (eliminated in consolidation) 3,000 3,000 Reinsurance payable 89 992 Accrued expenses and other liabilities 2,693 1,073 Total liabilities 29,864 24,364 Non-controlling interest 3,597 3,522 Total equity 3,597 3,522 Total liabilities and equity $ 33,461 $ 27,886 Total revenues and expenses of Battle Creek after intercompany eliminations, which is limited to net investment income and certain miscellaneous other income and expenses, were $11 and $0 during the three months ended June 30, 2017, and $41 and $0 during the three months ended June 30, 2016. Total revenues and expenses of Battle Creek after intercompany eliminations, which is limited to net investment income and certain miscellaneous other income and expenses, were $69 and $0 during the six months ended June 30, 2017, and $69 and $0 during the six months ended June 30, 2016.

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2017
Compensation Related Costs [Abstract]
Benefit Plans	12. Benefit Plans The Company sponsors a money purchase plan that covers all eligible employees. Plan costs are funded annually as they are earned. The Company’s contribution accrual for the money purchase plan totaled $315 and $393 for the three months ended June 30, 2017 and 2016, and $469 and $590 for the six months ended June 30, 2017 and 2016. The Company also sponsors a 401(k) plan with an automatic contribution to all eligible employees and a matching contribution for eligible employees of 50% up to 3% of eligible compensation. The Company’s contribution accrual to the 401(k) plan totaled $230 and $236 for the three months ended June 30, 2017 and 2016, and $345 and $354 for the six months ended June 30, 2017 and 2016. All fees associated with both plans are deducted from the eligible employee accounts. Effective April 28, 2016, the Board of Directors authorized a non-qualified deferred compensation plan covering key executives of the Company as designated by the Company’s Board of Directors. The Company’s policy is to fund the plan in a given calendar year by amounts that exceed the maximum contribution allowed by the Employee Retirement Income Security Act (“ERISA”), beginning in 2017. Funds deposited were $15 during the three months ended June 30, 2017 and $120 during the six months ended June 30, 2017.

Line of Credit

Line of Credit	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Line of Credit	13. Line of Credit Nodak Mutual has a $3,000 line of credit with Wells Fargo Bank, N.A., of which there were no outstanding amounts as of June 30, 2017 or December 31, 2016. This line of credit is due to expire on October 31, 2017.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes At June 30, 2017 and December 31, 2016, we had no unrecognized tax benefits, no accrued interest and penalties, and no significant uncertain tax positions. No interest and penalties were recognized during the three or six months ended June 30, 2017 or 2016. At June 30, 2017 and December 31, 2016, the Company, other than Battle Creek, had no income tax related carryovers for net operating losses, alternative minimum tax credits, or capital losses. Battle Creek, which files its income tax returns on a stand-alone basis, had $5,171 of net operating loss carryover at December 31, 2016. The net operating loss carry-forward expires beginning in 2021 through 2030. In 2016, a $247 capital loss carryover expired and none of the capital loss carryover was utilized against realized capital gains.

Operating Leases

Operating Leases	6 Months Ended
	Jun. 30, 2017
Leases, Operating [Abstract]
Operating Leases	15. Operating Leases We lease facilities, equipment, and software under non-cancellable operating leases expiring at various times through November 2017. Expenses related to these leases were $10 and $23 for the three months ended June 30, 2017 and 2016, and $20 and $45 for the six months ended June 30, 2017 and 2016. Minimum future commitments under these non-cancellable leases having remaining terms in excess of one year as of June 30, 2017 were less than $100 per year. We also sub-lease portions of our home office building under non-cancellable operating leases.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies	16. Contingencies We have been named as a defendant in various lawsuits relating to our insurance operations. Contingent liabilities arising from litigation, income taxes and other matters are not considered to be material to our financial position. The Company does not have any unrecorded or potential contingent liabilities or material commitments requiring the use of assets as of June 30, 2017 or December 31, 2016.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Information	17. Segment Information We have three primary insurance product lines, which consist of multi-peril crop and hail, non-standard auto and other property and casualty coverages. We do not allocate assets, underwriting expenses or fee and other income to the individual product lines and generally review the products in the aggregate for purposes of managerial decision making. We operate only in the United States, and no single customer or agent provides 10 percent or more of our revenues. The table below outlines revenue by insurance product line. Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenues: Net premiums earned Multi-peril crop and hail $ 12,814 $ 6,930 $ 13,914 $ 7,220 Non-standard auto 2,590 2,707 5,121 5,309 Other property and casualty coverage 30,249 27,499 59,427 54,722 Net premiums earned 45,653 37,136 78,462 67,251 Fee and other income 321 508 668 812 Net investment income 1,447 1,182 2,590 2,315 Net realized capital gain on investments 339 130 955 219 Total revenues $ 47,760 $ 38,956 $ 82,675 $ 70,597

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events We have evaluated subsequent events through August 10, 2017, the date these consolidated financial statements were available for issuance.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates: In preparing our consolidated financial statements, our management makes estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet and revenues and expenses for the period then ended. Actual results could differ significantly from those estimates. We make estimates and assumptions that can have a significant effect on amounts and disclosures we report in our consolidated financial statements. The most significant estimates relate to our reserves for unpaid losses and loss adjustment expenses, valuation of investments, determination of other-than-temporary impairments, valuation allowances for deferred income tax assets, and deferred policy acquisition costs. While we believe our estimates are appropriate, the ultimate amounts may differ from the estimates provided. We regularly review our methods for making these estimates as well as the continuing appropriateness of the estimated amounts, and we reflect any adjustment we consider necessary in our current results of operations.
Variable-Interest Entities	Variable-Interest Entities: Any company deemed to be a variable interest entity (“VIE”) is required to be consolidated by the primary beneficiary of the VIE. We assess our investments in other entities at inception to determine if any meet the qualifications of a VIE. We consider an investment in another company to be a VIE if either (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) the characteristics of a controlling financial interest are missing (either the ability to make decisions through voting or other rights, the obligation to absorb expected losses of the entity or the right to receive the expected residual returns of the entity), or (c) the voting rights of the equity holders are not proportional to their obligations to absorb the expected losses of the entity and/or the rights to receive the expected residual returns of the entity, and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. Upon the occurrence of certain events, we would reassess our initial determination of whether the investment is a VIE. We evaluate whether we are the primary beneficiary of each VIE and we consolidate the VIE if we have both (1) the power to direct the economically significant activities of the entity and (2) the obligation to absorb losses of, or the right to receive benefits from, the entity. We consider the contractual agreements that define the ownership structure, distribution of profits and losses, risks, responsibilities, indebtedness, voting rights, and board representation of the respective parties in determining whether we qualify as the primary beneficiary. Our assessment of whether we are the primary beneficiary of a VIE is performed at least annually. We control Battle Creek via a 100% quota share reinsurance agreement between Nodak Insurance and Battle Creek, as well as the ability to control a majority of the Board of Directors of Battle Creek. Through the effects of the 100% quota share agreement with Battle Creek, we are considered the primary beneficiary of Battle Creek’s operating results excluding investment income, bad debt expense, and income taxes. Therefore, we consolidate Battle Creek, and Battle Creek’s policyholders’ interest in Battle Creek is reflected as a non-controlling interest in equity in our consolidated balance sheet.
Cash and Cash Equivalents	Cash and Cash Equivalents: Cash and cash equivalents include certain investments in highly liquid debt instruments with original maturities of three months or less. Cost approximates fair value for these short term investments.
Investments	Investments: We have categorized our investment portfolio as “available-for-sale” and have reported the portfolio at fair value, with unrealized gains and losses, net of income tax, reported in accumulated other comprehensive income. Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Amortization of premium and accretion of discount are computed using an effective interest method. Realized gains and losses are determined using the specific identification method and included in the determination of income. Net investment income includes interest and dividend income together with amortization of purchase premiums and discounts, and is net of investment management and custody fees. We review our investments each quarter to determine whether a decline in fair value below the amortized cost basis is other than temporary. Accordingly, we assess whether we intend to sell or it is more likely than not that we will be required to sell a security before recovery of its amortized cost basis less any current-period credit losses. For debt securities that are considered other-than-temporarily impaired and that we do not intend to sell and will not be required to sell prior to recovery of the amortized cost basis, we separate the amount of the impairment into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit related and, therefore, is not required to be recognized as losses in the consolidated statement of operations, but is recognized in other comprehensive income. We classify each fair value measurement at the appropriate level in the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted market price in active markets for identical assets or liabilities (Level I measurements) and the lowest priority to unobservable inputs (Level III measurements). An asset’s or liability’s classification within the fair value hierarchy is based on the lowest level of significant input to its valuation. Level I – Quoted price in active markets for identical assets and liabilities. Level II – Quoted prices in markets that are not active or inputs that are observable either directly or indirectly. Level II inputs include quoted prices for similar assets or liabilities other than quoted in prices in Level I; quoted prices in markets that are not active; or other inputs that are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level III – Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. Unobservable inputs reflect the reporting entity’s own assumptions that market participants would use in pricing the asset or liability. Level III assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
Fair Value of Financial Instruments	Fair Value of Other Financial Instruments: Our other financial instruments aside from investments are cash and cash equivalents, premium and agents’ balances receivable, and accrued expenses and accounts payable. The carrying amounts for cash and cash equivalents, premium and agents’ balances receivable, and accrued expenses and accounts payable approximate their fair value based on their short-term nature. Other invested assets that do not have observable inputs and little or no market activity are carried on a cost basis. The carrying value of these other invested assets was $1,972 at June 30, 2017 and December 31, 2016.
Reclassifications	Reclassifications: Certain amounts in 2016 have been reclassified to conform to the 2017 presentation.
Revenue Recognition	Revenue Recognition: We record premiums written at policy inception and recognize them as revenue on a pro rata basis over the policy term or, in the case of crop insurance, over the period of risk. The portion of premiums that could be earned in the future is deferred and reported as unearned premiums. When policies lapse, the Company reverses the unearned portion of the written premium and removes the applicable unearned premium. Policy-related fee income is recognized when collected. The Company uses the direct write-off method for recognizing bad debts. Accounts are deemed to be delinquent after 60 days except for those accounts associated with amounts due from insureds for premiums in which case policy cancellation procedures are commenced in accordance with state insurance regulations. Any earned but uncollected premiums are written off immediately upon the effective date of policy cancellation.
Policy Acquisition Costs	Policy Acquisition Costs: We defer our policy acquisition costs, consisting primarily of commissions, premium taxes and certain other underwriting costs, reduced by ceding commissions, which vary with and relate directly to the production of business. We amortize these deferred policy acquisition costs over the period in which we earn the premiums. The method we follow in computing deferred policy acquisition costs limits the amount of such deferred costs to their estimated realizable value, which gives effect to the premium to be earned, related investment income, losses and loss adjustment expenses, and certain other costs we expect to incur as we earn the premium.
Property and Equipment	Property and Equipment: We report property and equipment at cost less accumulated depreciation. Depreciation is computed using the straight-line method based upon the estimated useful lives of the assets.
Loss and Loss Adjustment Expenses	Loss and Loss Adjustment Expenses: Liabilities for losses and loss adjustment expenses are estimates at a given point in time of the amounts we expect to pay with respect to policyholder claims based on facts and circumstances then known. At the time of establishing our estimates, we recognize that our ultimate liability for losses and loss adjustment expenses will exceed or be less than such estimates. We base our estimates of liabilities for losses and loss adjustment expenses on assumptions as to future loss trends, expected claims severity, judicial theories of liability, and other factors. During the loss adjustment period, we may learn additional facts regarding certain claims, and, consequently, it often becomes necessary for us to refine and adjust our estimates of liability. We reflect any adjustments to our liabilities for losses and loss adjustment expenses in our operating results in the period in which we determine the need for a change in the estimates. We maintain liabilities for the payment of losses and loss adjustment expenses with respect to both reported and unreported claims. We establish these liabilities for the purpose of covering the ultimate costs of settling all losses, including investigation and litigation costs. We base the amount of our liability for reported losses primarily upon a case-by-case evaluation of the type of risk involved, knowledge of the circumstances surrounding each claim, and the insurance policy provisions relating to the type of loss our policyholder incurred. We determine the amount of our liability for unreported claims and loss adjustment expenses on the basis of historical information by line of insurance. We account for inflation in the reserving function through analysis of costs and trends and reviews of historical reserving results. We closely monitor our liabilities and update them periodically using new information on reported claims and a variety of statistical techniques. We do not discount our liabilities for unpaid losses and loss adjustment expense. Reserve estimates can change over time because of unexpected changes in assumptions related to our external environment and, to a lesser extent, assumptions as to our internal operations. Assumptions related to our external environment include the absence of significant changes in tort law and the legal environment which may impact liability exposure, the trends in judicial interpretations of insurance coverage and policy provisions, and the rate of loss cost inflation. Internal assumptions include consistency in the recording of premium and loss statistics, consistency in the recording of claims, payment and case reserving methodologies, accurate measurement of the impact of rate changes and changes in policy provisions, consistency in the quality and characteristics of business written within a given line of business, and consistency in reinsurance coverage and collectability of reinsured losses, among other items. To the extent we determine that underlying factors impacting our assumptions have changed, we attempt to make appropriate adjustments for such changes in our reserves. Accordingly, our ultimate liability for unpaid losses and loss adjustment expenses will likely differ from the amount recorded.
Income Taxes	Income Taxes: With the exception of Battle Creek, which files a stand-alone federal income tax return, we file a consolidated federal income tax return. The Company reports any tax related interest and penalties as part of income tax expense in the year such amounts are determinable. We account for income taxes using the asset and liability method. The objective of the asset and liability method is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of our assets and liabilities at enacted tax rates expected to be in effect when we realize or settle such amounts.
Credit Risk	Credit Risk: Our objective is to earn competitive returns by investing in a diversified portfolio of securities. Our portfolio of fixed income securities and, to a lesser extent, short-term investments, is subject to credit risk. We define this risk as the potential loss in fair value resulting from adverse changes in the borrower’s ability to repay the debt. We manage this risk by performing an analysis of prospective investments and through regular reviews of our portfolio by our investment staff and advisors. We also limit the amount of our total investment portfolio that we invest in any one security. Property and liability insurance coverages are marketed through captive agents in North Dakota and through independent insurance agencies located throughout all other operating areas. All business is billed directly to policyholders. We maintain cash balances primarily at one bank, which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250. During the normal course of business, balances are maintained above the FDIC insurance limit. The Company maintains short-term investment balances in investment grade money market accounts that are insured by the Securities Investor Protection Corporation (“SIPC”) up to $500. On occasion, balances for these accounts are maintained in excess of the SIPC insurance limit.
Reinsurance	Reinsurance: The Company limits the maximum net loss that can arise from large risks or risks in concentrated areas of exposure by reinsuring (ceding) certain levels of risks to other insurers or reinsurers, either on an automatic basis under general reinsurance contracts knows as “treaties” or by negotiation on substantial individual risks. Ceded reinsurance is treated as the risk and liability of the assuming companies. In the event that all or any of the reinsuring companies might be unable to meet their obligations under existing reinsurance agreements, the Company would be liable for such defaulted amounts.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill represents the excess of the purchase price over the underlying fair value of acquired entities. When completing acquisitions, we seek also to identify separately identifiable intangible assets that we have acquired. We assess goodwill and intangible assets with an indefinite useful life for impairment annually. We also assess goodwill and other intangible assets for impairment upon the occurrence of certain events. In making our assessment, we consider a number of factors including operating results, business plans, economic projections, anticipated future cash flows, and current market data. Inherent uncertainties exist with respect to these factors and to our judgment in applying them when we make our assessment. Impairment of goodwill and other intangible assets could result from changes in economic and operating conditions in future periods. We did not record any impairments of goodwill or other intangible assets during the six months ended June 30, 2017, or the year ended December 31, 2016. Goodwill representing the excess of the purchase price over the fair value of the net assets acquired is reported separately in the consolidated balance sheet. The purchase price in excess of the fair value of net assets acquired was negotiated at arms-length with an unrelated party and was based upon the strategic decision by Company management to expand both the geographic footprint and product lines of the Company. The nature of the business acquired was such that there were limited intangible assets not reflected in the net assets acquired. The purchase price was paid with a combination of cash and cancellation of obligations owed to the acquired company by the sellers. The goodwill which arose from this transaction is included in the basis of the net assets acquired and this is not deductible for tax purposes.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued guidance that establishes the manner in which an entity recognizes the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. While the guidance will replace most existing GAAP revenue recognition guidance, the scope of the guidance excludes insurance contracts. The new standard is effective on January 1, 2018. The standard permits the use of either the retrospective or the cumulative effect transition method. We do not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations, or cash flows. In January 2016, the FASB issued guidance that generally requires entities to measure equity investments at fair value and recognize changes in fair value in their results of operations. The guidance also simplifies the impairment assessment of equity investments, without readily determinable fair values by requiring entities to perform a qualitative assessment to identify impairment. The FASB issued other disclosure and presentation improvements related to financial instruments within the guidance. The guidance is effective for annual and interim reporting periods beginning after December 15, 2017. We do not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations, or cash flows. In February 2016, the FASB issued guidance that requires lessees to recognize leases, including operating leases, on the lessee’s balance sheet, unless a lease is considered a short-term lease. The guidance also requires entities to make new judgments to identify leases. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018 and permits early adoption. We do not expect the adoption of this new guidance to have a significant impact on our financial position, results of operations, or cash flows. In June 2016, the FASB issued a new standard that will require timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The guidance will require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better form their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. Additionally, the guidance requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. Finally, the guidance amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We are evaluating the impact this new guidance will have on our financial position, results of operations, and cash flows.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Marketable Securities [Abstract]
Schedule of amortized cost and estimated fair value of securities	The following tables show the cost or amortized cost, gross unrealized gains and losses, and fair value of the Company’s fixed income and equity securities: June 30, 2017 Cost or Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 7,796 $ 244 $ (37 ) $ 8,003 Obligations of states and political subdivisions 85,042 1,541 (135 ) 86,448 Corporate securities 90,086 1,415 (230 ) 91,271 Residential mortgage-backed securities 30,616 163 (191 ) 30,588 Commercial mortgage-backed securities 7,498 116 (9 ) 7,605 Asset-backed securities 14,900 36 (13 ) 14,923 Total fixed income securities 235,938 3,515 (615 ) 238,838 Equity securities: Basic materials 1,117 39 (6 ) 1,150 Communications 3,285 1,121 (176 ) 4,230 Consumer, cyclical 4,095 3,914 (137 ) 7,872 Consumer, non-cyclical 6,646 3,401 (145 ) 9,902 Energy 2,008 231 (319 ) 1,920 Financial 1,701 831 — 2,532 Industrial 5,232 3,052 (33 ) 8,251 Technology 4,768 4,116 (154 ) 8,730 Total equity securities 28,852 16,705 (970 ) 44,587 Total investments $ 264,790 $ 20,220 $ (1,585 ) $ 283,425 December 31, 2016 Cost or Gross Gross Fair Value Fixed income securities: U.S. Government and agencies $ 5,834 $ 260 $ (44 ) $ 6,050 Obligations of states and political subdivisions 68,915 882 (401 ) 69,396 Corporate securities 50,610 1,028 (468 ) 51,170 Residential mortgage-backed securities 22,750 102 (215 ) 22,637 Commercial mortgage-backed securities 8,033 104 (41 ) 8,096 Asset-backed securities 4,118 17 (14 ) 4,121 Total fixed income securities 160,260 2,393 (1,183 ) 161,470 Equity securities: Basic materials 90 13 (1 ) 102 Communications 1,307 1,601 (81 ) 2,827 Consumer, cyclical 1,665 3,646 (50 ) 5,261 Consumer, non-cyclical 2,015 2,411 (208 ) 4,218 Energy 1,053 234 — 1,287 Financial 314 277 — 591 Industrial 2,251 2,766 — 5,017 Technology 2,816 3,855 (57 ) 6,614 Total equity securities 11,511 14,803 (397 ) 25,917 Total investments $ 171,771 $ 17,196 $ (1,580 ) $ 187,387
Schedule of amortized cost and fair value of fixed income securities by contractual maturity	The amortized cost and estimated fair value of fixed income securities by contractual maturity are shown below. Actual maturities could differ from contractual maturities because issuers of the securities may have the right to call or prepay certain obligations, which may or may not include call or prepayment penalties. June 30, 2017 Amortized Cost Fair Value Due to mature: One year or less $ 15,866 $ 15,970 After one year through five years 83,912 85,418 After five years through ten years 71,623 72,738 After ten years 11,523 11,596 Mortgage / asset backed securities 53,014 53,116 Total fixed income securities $ 235,938 $ 238,838 December 31, 2016 Amortized Cost Fair Value Due to mature: One year or less $ 10,935 $ 11,069 After one year through five years 45,904 46,891 After five years through ten years 55,430 55,619 After ten years 13,090 13,037 Mortgage / asset backed securities 34,901 34,854 Total fixed income securities $ 160,260 $ 161,470
Schedule of unrealized loss of securities	The investment category and duration of the Company’s gross unrealized losses on fixed income securities and equity securities were as follows: June 30, 2017 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and $ 3,489 $ (37 ) $ — $ — $ 3,489 $ (37 ) Obligations of states and 13,148 (132 ) 248 (3 ) 13,396 (135 ) Corporate securities 24,068 (77 ) 1,179 (153 ) 25,247 (230 ) Residential mortgage- 16,373 (191 ) — — 16,373 (191 ) Commercial mortgage- 1,528 (9 ) — — 1,528 (9 ) Asset-backed securities 6,423 (13 ) — — 6,423 (13 ) Total fixed income 65,029 (459 ) 1,427 (156 ) 66,456 (615 ) Equity securities: Basic materials 381 (6 ) — — 381 (6 ) Communications 1,527 (176 ) — — 1,527 (176 ) Consumer, cyclical 514 (137 ) — — 514 (137 ) Consumer, non-cyclical 1,446 (36 ) 266 (109 ) 1,712 (145 ) Energy 1,764 (319 ) — — 1,764 (319 ) Industrial 374 (33 ) — — 374 (33 ) Technology 1,294 (109 ) 196 (45 ) 1,490 (154 ) Total equity securities 7,300 (816 ) 462 (154 ) 7,762 (970 ) Total investments $ 72,329 $ (1,275 ) $ 1,889 $ (310 ) $ 74,218 $ (1,585 ) December 31, 2016 Less than 12 Months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: U.S. Government and agencies $ 2,750 $ (44 ) $ — $ — $ 2,750 $ (44 ) Obligations of states and political subdivisions 16,559 (396 ) 245 (5 ) 16,804 (401 ) Corporate securities 13,479 (175 ) 2,006 (293 ) 15,485 (468 ) Residential mortgage-backed securities 15,692 (215 ) — — 15,692 (215 ) Commercial mortgage-backed securities 2,513 (41 ) — — 2,513 (41 ) Asset-backed securities 2,291 (14 ) — — 2,291 (14 ) Total fixed income securities 53,284 (885 ) 2,251 (298 ) 55,535 (1,183 ) Equity securities: Basic materials 32 (1 ) — — 32 (1 ) Communications 167 (81 ) — — 167 (81 ) Consumer, cyclical 63 (5 ) 174 (45 ) 237 (50 ) Consumer, non-cyclical 239 (208 ) — — 239 (208 ) Technology 543 (57 ) — — 543 (57 ) Total equity securities 1,044 (352 ) 174 (45 ) 1,218 (397 ) Total investments $ 54,328 $ (1,237 ) $ 2,425 $ (343 ) $ 56,753 $ (1,580 )
Schedule of net investment income	Net investment income consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Fixed income securities $ 1,617 $ 1,227 $ 2,961 $ 2,403 Equity securities 93 99 163 207 Real estate 231 105 461 342 Cash and cash equivalents (3 ) — (6 ) — Total gross investment income 1,938 1,431 3,579 2,952 Investment expenses 491 249 989 637 Net investment income $ 1,447 $ 1,182 $ 2,590 $ 2,315
Schedule of net realized gain (loss) on investments	Net realized capital gain on investments consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Gross realized gains $ 552 $ 174 $ 1,180 $ 514 Gross realized losses, excluding other (213 ) (44 ) (225 ) (295 ) Net realized capital gain on investments $ 339 $ 130 $ 955 $ 219

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Investments, All Other Investments [Abstract]
Schedule of Financial Instruments at Fair Value Measured on a Recurring Basis	The following tables set forth our assets which are measured on a recurring basis by the level within the fair value hierarchy in which fair value measurements fall: June 30, 2017 Total Level I Level II Level II Fixed income securities: U.S. Government and agencies $ 8,003 $ — $ 8,003 $ — Obligations of states and political subdivisions 86,448 — 86,448 — Corporate securities 91,271 — 91,271 — Residential mortgage-backed securities 30,588 — 30,588 — Commercial mortgage-backed securities 7,605 — 7,605 — Asset-backed securities 14,923 — 14,923 — Total fixed income securities 238,838 — 238,838 — Equity securities: Basic materials 1,150 1,150 — — Communications 4,230 4,230 — — Consumer, cyclical 7,872 7,872 — — Consumer, non-cyclical 9,902 9,902 — — Energy 1,920 1,920 — — Financial 2,532 2,532 — — Industrial 8,251 8,251 — — Technology 8,730 8,730 — — Total equity securities 44,587 44,587 — — Cash and cash equivalents 18,148 18,148 — — Total assets at fair value $ 301,573 $ 62,735 $ 238,838 $ — December 31, 2016 Total Level I Level II Level III Fixed income securities: U.S. Government and agencies $ 6,050 $ — $ 6,050 $ — Obligations of states and political subdivisions 69,396 — 69,396 — Corporate securities 51,170 — 51,170 — Residential mortgage-backed securities 22,637 — 22,637 — Commercial mortgage-backed securities 8,096 — 8,096 — Asset-backed securities 4,121 — 4,121 — Total fixed income securities 161,470 — 161,470 — Equity securities: Basic materials 102 102 — — Communications 2,827 2,827 — — Consumer, cyclical 5,261 5,261 — — Consumer, non-cyclical 4,218 4,218 — — Energy 1,287 1,287 — — Financial 591 591 — — Industrial 5,017 5,017 — — Technology 6,614 6,614 — — Total equity securities 25,917 25,917 — — Cash and cash equivalents 18,318 18,318 — — Total assets at fair value $ 205,705 $ 44,235 $ 161,470 $ —

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2017
Reinsurance Disclosures [Abstract]
Schedule of reconciliation of direct to net premiums on both a written and an earned basis	A reconciliation of direct to net premiums on both a written and an earned basis is as follows: Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Premiums Premiums Premiums Premiums Direct premium $ 83,671 $ 48,564 $ 120,051 $ 82,680 Assumed premium 3,396 3,368 4,591 4,539 Ceded premium (8,953 ) (6,279 ) (11,431 ) (8,757 ) Net premiums $ 78,114 $ 45,653 $ 113,211 $ 78,462 Percentage of assumed earned 7.4% 5.8% Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Premiums Premiums Premiums Premiums Direct premium $ 77,753 $ 38,789 $ 111,569 $ 70,970 Assumed premium 5,926 5,933 7,430 7,413 Ceded premium (27,331 ) (7,586 ) (30,877 ) (11,132 ) Net premiums $ 56,348 $ 37,136 $ 88,122 $ 67,251 Percentage of assumed earned 16.0% 11.0%
Schedule of reconciliation of direct to net losses and loss adjustment expenses	A reconciliation of direct to net losses and loss adjustment expenses is as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Direct losses and LAE $ 36,093 $ 39,490 $ 55,735 $ 51,348 Assumed losses and LAE 2,024 2,979 2,613 3,821 Ceded losses and LAE (1,887 ) (11,373 ) (4,397 ) (12,584 ) Net losses and LAE $ 36,230 $ 31,096 $ 53,951 $ 42,585

Deferred Policy Acquisition C30

Deferred Policy Acquisition Costs (Tables)	6 Months Ended
	Jun. 30, 2017
Reinsurance Disclosures [Abstract]
Schedule of deferred policy acquisition costs	Activity with regards to our deferred policy acquisition costs was as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Balance, beginning of period $ 9,681 $ 8,657 $ 8,942 $ 8,444 Deferral of policy acquisition costs 10,746 8,113 16,494 12,367 Amortization of deferred policy acquisition costs (6,301 ) (6,193 ) (11,310 ) (10,234 ) Balance, end of period $ 14,126 $ 10,577 $ 14,126 $ 10,577

Unpaid Losses and Loss Adjust31

Unpaid Losses and Loss Adjustment Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Schedule of Activity in the liability for unpaid losses and loss adjustment expenses	Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Six Months Ended Year Ended Balance at beginning of year: Liability for unpaid losses and loss adjustment expense $ 59,632 $ 45,342 Reinsurance ceded 7,192 5,109 Net balance at beginning of year 52,440 40,233 Incurred related to: Current year 58,917 123,264 Prior years (4,966 ) (4,756 ) Total incurred 53,951 118,508 Paid related to: Current year 23,782 90,772 Prior years 20,382 15,529 Total paid 44,164 106,301 Balance at end of period: Liability for unpaid losses and loss adjustment expense 72,619 59,632 Reinsurance ceded 10,392 7,192 Net balance at end of period $ 62,227 $ 52,440

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Reinsurance Disclosures [Abstract]
Schedule of Property and equipment	Property and equipment consisted of the following: June 30, December 31, Estimated Cost: Real estate $ 10,090 $ 9,578 10 - 31 years Electronic data processing equipment 1,606 1,637 5-7 years Furniture and fixtures 3,762 3,762 5-7 years Automobiles 1,548 1,488 2-3 years Total cost 17,006 16,465 Accumulated depreciation (11,743 ) (11,646 ) Total property and equipment, net $ 5,263 $ 4,819

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Schedule of illustrates the impact of consolidating Battle Creek into our consolidated balance sheets prior to intercompany eliminations	The following table illustrates the impact of including Battle Creek in our consolidated balance sheets prior to intercompany eliminations: June 30, 2017 December 31, 2016 Cash and cash equivalents (overdraft) $ (92 ) $ 124 Investments 4,436 4,290 Premiums and agents’ balances receivable 3,658 2,841 Reinsurance recoverables on losses (eliminated in consolidation) 24,082 19,299 Accrued investment income 31 31 Deferred income tax asset, net 850 915 Property and equipment 376 331 Other assets 120 55 Total assets $ 33,461 $ 27,886 Unpaid losses and loss adjustment expenses $ 11,347 $ 8,917 Unearned premiums 12,735 10,382 Notes payable (eliminated in consolidation) 3,000 3,000 Reinsurance payable 89 992 Accrued expenses and other liabilities 2,693 1,073 Total liabilities 29,864 24,364 Non-controlling interest 3,597 3,522 Total equity 3,597 3,522 Total liabilities and equity $ 33,461 $ 27,886

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of revenue by insurance product line	We have three primary insurance product lines, which consist of multi-peril crop and hail, non-standard auto and other property and casualty coverages. We do not allocate assets, underwriting expenses or fee and other income to the individual product lines and generally review the products in the aggregate for purposes of managerial decision making. We operate only in the United States, and no single customer or agent provides 10 percent or more of our revenues. The table below outlines revenue by insurance product line. Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenues: Net premiums earned Multi-peril crop and hail $ 12,814 $ 6,930 $ 13,914 $ 7,220 Non-standard auto 2,590 2,707 5,121 5,309 Other property and casualty coverage 30,249 27,499 59,427 54,722 Net premiums earned 45,653 37,136 78,462 67,251 Fee and other income 321 508 668 812 Net investment income 1,447 1,182 2,590 2,315 Net realized capital gain on investments 339 130 955 219 Total revenues $ 47,760 $ 38,956 $ 82,675 $ 70,597

Organization (Details)

Organization (Details) - Nodak Insurance [Member]	6 Months Ended
	Jun. 30, 2017
Percentage of shares exchanged	55.00%
Percentage of quota share agreement	100.00%

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other invested assets	$ 1,972	$ 1,972
Federal Deposit Insurance Corporation amount	250
Short-term investment balances in investment that are insured by SIPC	$ 500
Nodak Insurance [Member]
Ownership percentage	100.00%
Battle Creek [Member]
Ownership percentage	100.00%

Investments (Narrative) (Detail

Investments (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Investments [Abstract]
Fixed income securities with a fair value	$ 3,539		$ 3,539		$ 3,530
Impairment of investments	$ 206		$ 206
Percentage of fixed maturities amortized cost values			80.00%
Fixed income securities [Member]
Investments [Abstract]
Number of securities	152		152		129

Investments (Schedule of amorti

Investments (Schedule of amortized cost and estimated fair value of investment securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Cost or Amortized Cost	$ 264,790	$ 171,771
Gross Unrealized Gains	20,220	17,196
Gross Unrealized Losses	(1,585)	(1,580)
Fair Value	283,425	187,387
Fixed income securities [Member]
Cost or Amortized Cost	235,938	160,260
Gross Unrealized Gains	3,515	2,393
Gross Unrealized Losses	(615)	(1,183)
Fair Value	238,838	161,470
Fixed income securities [Member] | U.S. Government and agencies [Member]
Cost or Amortized Cost	7,796	5,834
Gross Unrealized Gains	244	260
Gross Unrealized Losses	(37)	(44)
Fair Value	8,003	6,050
Fixed income securities [Member] | Obligations of states and political subdivisions [Member]
Cost or Amortized Cost	85,042	68,915
Gross Unrealized Gains	1,541	882
Gross Unrealized Losses	(135)	(401)
Fair Value	86,448	69,396
Fixed income securities [Member] | Corporate securities [Member]
Cost or Amortized Cost	90,086	50,610
Gross Unrealized Gains	1,415	1,028
Gross Unrealized Losses	(230)	(468)
Fair Value	91,271	51,170
Fixed income securities [Member] | Residential mortgage-backed securities [Member]
Cost or Amortized Cost	30,616	22,750
Gross Unrealized Gains	163	102
Gross Unrealized Losses	(191)	(215)
Fair Value	30,588	22,637
Fixed income securities [Member] | Commercial mortgage-backed securities [Member]
Cost or Amortized Cost	7,498	8,033
Gross Unrealized Gains	116	104
Gross Unrealized Losses	(9)	(41)
Fair Value	7,605	8,096
Fixed income securities [Member] | Asset backed securities [Member]
Cost or Amortized Cost	14,900	4,118
Gross Unrealized Gains	36	17
Gross Unrealized Losses	(13)	(14)
Fair Value	14,923	4,121
Equity Securities [Member]
Cost or Amortized Cost	28,852	11,511
Gross Unrealized Gains	16,705	14,803
Gross Unrealized Losses	(970)	(397)
Fair Value	44,587	25,917
Equity Securities [Member] | Basic materials [Member]
Cost or Amortized Cost	1,117	90
Gross Unrealized Gains	39	13
Gross Unrealized Losses	(6)	(1)
Fair Value	1,150	102
Equity Securities [Member] | Communications [Member]
Cost or Amortized Cost	3,285	1,307
Gross Unrealized Gains	1,121	1,601
Gross Unrealized Losses	(176)	(81)
Fair Value	4,230	2,827
Equity Securities [Member] | Consumer, cyclical [Member]
Cost or Amortized Cost	4,095	1,665
Gross Unrealized Gains	3,914	3,646
Gross Unrealized Losses	(137)	(50)
Fair Value	7,872	5,261
Equity Securities [Member] | Consumer, non-cyclical [Member]
Cost or Amortized Cost	6,646	2,015
Gross Unrealized Gains	3,401	2,411
Gross Unrealized Losses	(145)	(208)
Fair Value	9,902	4,218
Equity Securities [Member] | Energy [Member]
Cost or Amortized Cost	2,008	1,053
Gross Unrealized Gains	231	234
Gross Unrealized Losses	(319)
Fair Value	1,920	1,287
Equity Securities [Member] | Financial [Member]
Cost or Amortized Cost	1,701	314
Gross Unrealized Gains	831	277
Gross Unrealized Losses
Fair Value	2,532	591
Equity Securities [Member] | Industrial [Member]
Cost or Amortized Cost	5,232	2,251
Gross Unrealized Gains	3,052	2,766
Gross Unrealized Losses	(33)
Fair Value	8,251	5,017
Equity Securities [Member] | Technology [Member]
Cost or Amortized Cost	4,768	2,816
Gross Unrealized Gains	4,116	3,855
Gross Unrealized Losses	(154)	(57)
Fair Value	$ 8,730	$ 6,614

Investments (Schedule of Fixed

Investments (Schedule of Fixed Maturities) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Marketable Securities [Abstract]
Amortized Cost, Due to mature One year or less	$ 15,866	$ 10,935
Amortized Cost, Due to mature After one year through five years	83,912	45,904
Amortized Cost, Due to mature After five years through ten years	71,623	55,430
Amortized Cost, Due to mature After ten years	11,523	13,090
Amortized Cost, Due to mature Mortgage/asset-backed securities	53,014	34,901
Available-for-sale Securities, Debt Maturities, Amortized Cost	235,938	160,260
Fair Value, Due to mature One year or less	15,970	11,069
Fair Value, Due to mature After one year through five years	85,418	46,891
Fair Value, Due to mature After five years through ten years	72,738	55,619
Fair Value, Due to mature After ten years	11,596	13,037
Fair Value, Due to mature Mortgage/asset-backed securities	53,116	34,854
Available-for-sale Securities, Debt Securities, Estimated Fair Value	$ 238,838	$ 161,470

Investments (Schedule of aggreg

Investments (Schedule of aggregate fair value and unrealized loss) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Less than 12 months Fair Value	$ 72,329	$ 54,328
Less than 12 months Unrealized Losses	(1,275)	(1,237)
Greater than 12 months Fair Value	1,889	2,425
Greater than 12 months Unrealized Losses	(310)	(343)
Fair Value, Total	74,218	56,753
Unrealized Losses, Total	(1,585)	(1,580)
Fixed income securities [Member]
Less than 12 months Fair Value	65,029	53,284
Less than 12 months Unrealized Losses	(459)	(885)
Greater than 12 months Fair Value	1,427	2,251
Greater than 12 months Unrealized Losses	(156)	(298)
Fair Value, Total	66,456	55,535
Unrealized Losses, Total	(615)	(1,183)
Fixed income securities [Member] | U.S. Government and agencies [Member]
Less than 12 months Fair Value	3,489	2,750
Less than 12 months Unrealized Losses	(37)	(44)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	3,489	2,750
Unrealized Losses, Total	(37)	(44)
Fixed income securities [Member] | Obligations of states and political subdivisions [Member]
Less than 12 months Fair Value	13,148	16,559
Less than 12 months Unrealized Losses	(132)	(396)
Greater than 12 months Fair Value	248	245
Greater than 12 months Unrealized Losses	(3)	(5)
Fair Value, Total	13,396	16,804
Unrealized Losses, Total	(135)	(401)
Fixed income securities [Member] | Corporate securities [Member]
Less than 12 months Fair Value	24,068	13,479
Less than 12 months Unrealized Losses	(77)	(175)
Greater than 12 months Fair Value	1,179	2,006
Greater than 12 months Unrealized Losses	(153)	(293)
Fair Value, Total	25,247	15,485
Unrealized Losses, Total	(230)	(468)
Fixed income securities [Member] | Residential mortgage-backed securities [Member]
Less than 12 months Fair Value	16,373	15,692
Less than 12 months Unrealized Losses	(191)	(215)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	16,373	15,692
Unrealized Losses, Total	(191)	(215)
Fixed income securities [Member] | Commercial mortgage-backed securities [Member]
Less than 12 months Fair Value	1,528	2,513
Less than 12 months Unrealized Losses	(9)	(41)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	1,528	2,513
Unrealized Losses, Total	(9)	(41)
Fixed income securities [Member] | Asset backed securities [Member]
Less than 12 months Fair Value	6,423	2,291
Less than 12 months Unrealized Losses	(13)	(14)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	6,423	2,291
Unrealized Losses, Total	(13)	(14)
Equity Securities [Member]
Less than 12 months Fair Value	7,300	1,044
Less than 12 months Unrealized Losses	(816)	(352)
Greater than 12 months Fair Value	462	174
Greater than 12 months Unrealized Losses	(154)	(45)
Fair Value, Total	7,762	1,218
Unrealized Losses, Total	(970)	(397)
Equity Securities [Member] | Basic materials [Member]
Less than 12 months Fair Value	381	32
Less than 12 months Unrealized Losses	(6)	(1)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	381	32
Unrealized Losses, Total	(6)	(1)
Equity Securities [Member] | Communications [Member]
Less than 12 months Fair Value	1,527	167
Less than 12 months Unrealized Losses	(176)	(81)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	1,527	167
Unrealized Losses, Total	(176)	(81)
Equity Securities [Member] | Consumer, cyclical [Member]
Less than 12 months Fair Value	514	63
Less than 12 months Unrealized Losses	(137)	(5)
Greater than 12 months Fair Value		174
Greater than 12 months Unrealized Losses		(45)
Fair Value, Total	514	237
Unrealized Losses, Total	(137)	(50)
Equity Securities [Member] | Consumer, non-cyclical [Member]
Less than 12 months Fair Value	1,446	239
Less than 12 months Unrealized Losses	(36)	(208)
Greater than 12 months Fair Value	266
Greater than 12 months Unrealized Losses	(109)
Fair Value, Total	1,712	239
Unrealized Losses, Total	(145)	(208)
Equity Securities [Member] | Energy [Member]
Less than 12 months Fair Value	1,764
Less than 12 months Unrealized Losses	(319)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	1,764
Unrealized Losses, Total	(319)
Equity Securities [Member] | Industrial [Member]
Less than 12 months Fair Value	374
Less than 12 months Unrealized Losses	(33)
Greater than 12 months Fair Value
Greater than 12 months Unrealized Losses
Fair Value, Total	374
Unrealized Losses, Total	(33)
Equity Securities [Member] | Technology [Member]
Less than 12 months Fair Value	1,294	543
Less than 12 months Unrealized Losses	(109)	(57)
Greater than 12 months Fair Value	196
Greater than 12 months Unrealized Losses	(45)
Fair Value, Total	1,490	543
Unrealized Losses, Total	$ (154)	$ (57)

Investments (Schedule of Net In

Investments (Schedule of Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Total gross investment income	$ 1,938	$ 1,431	$ 3,579	$ 2,952
Investment expenses	491	249	989	637
Net investment income	1,447	1,182	2,590	2,315
Fixed income securities [Member]
Total gross investment income	1,617	1,227	2,961	2,403
Equity Securities [Member]
Total gross investment income	93	99	163	207
Real estate [Member]
Total gross investment income	231	105	461	342
Cash and Cash Equivalents [Member]
Total gross investment income	$ (3)		$ (6)

Investments (Schedule of compon

Investments (Schedule of components of Net realized capital gains on investments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Marketable Securities [Abstract]
Gross realized gains	$ 552	$ 174	$ 1,180	$ 514
Gross realized losses, excluding other than temporary impairment losses	(213)	(44)	(225)	(295)
Net realized capital gains on investments	$ 339	$ 130	$ 955	$ 219

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of assets, which are measured on a recurring basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Total fixed income securities	$ 238,838	$ 161,470
Total equity securities	44,587	25,917
Cash and cash equivalents	18,148	18,318	$ 12,675	$ 14,521
Total assets at fair value	301,573	205,705
Level I [Member]
Total fixed income securities
Total equity securities	44,587	25,917
Cash and cash equivalents	18,148	18,318
Total assets at fair value	62,735	44,235
Level II [Member]
Total fixed income securities	238,838	161,470
Total equity securities
Cash and cash equivalents
Total assets at fair value	238,838	161,470
Level III [Member]
Total fixed income securities
Total equity securities
Cash and cash equivalents
Total assets at fair value
U.S. Government and agencies [Member]
Total fixed income securities	8,003	6,050
U.S. Government and agencies [Member] | Level I [Member]
Total fixed income securities
U.S. Government and agencies [Member] | Level II [Member]
Total fixed income securities	8,003	6,050
U.S. Government and agencies [Member] | Level III [Member]
Total fixed income securities
Obligations of states and political subdivisions [Member]
Total fixed income securities	86,448	69,396
Obligations of states and political subdivisions [Member] | Level I [Member]
Total fixed income securities
Obligations of states and political subdivisions [Member] | Level II [Member]
Total fixed income securities	86,448	69,396
Obligations of states and political subdivisions [Member] | Level III [Member]
Total fixed income securities
Corporate securities [Member]
Total fixed income securities	91,271	51,170
Corporate securities [Member] | Level I [Member]
Total fixed income securities
Corporate securities [Member] | Level II [Member]
Total fixed income securities	91,271	51,170
Corporate securities [Member] | Level III [Member]
Total fixed income securities
Residential mortgage-backed securities [Member]
Total fixed income securities	30,588	22,637
Residential mortgage-backed securities [Member] | Level I [Member]
Total fixed income securities
Residential mortgage-backed securities [Member] | Level II [Member]
Total fixed income securities	30,588	22,637
Residential mortgage-backed securities [Member] | Level III [Member]
Total fixed income securities
Commercial mortgage-backed securities [Member]
Total fixed income securities	7,605	8,096
Commercial mortgage-backed securities [Member] | Level I [Member]
Total fixed income securities
Commercial mortgage-backed securities [Member] | Level II [Member]
Total fixed income securities	7,605	8,096
Commercial mortgage-backed securities [Member] | Level III [Member]
Total fixed income securities
Asset backed securities [Member]
Total fixed income securities	14,923	4,121
Asset backed securities [Member] | Level I [Member]
Total fixed income securities
Asset backed securities [Member] | Level II [Member]
Total fixed income securities	14,923	4,121
Asset backed securities [Member] | Level III [Member]
Total fixed income securities
Basic materials [Member]
Total equity securities	1,150	102
Basic materials [Member] | Level I [Member]
Total equity securities	1,150	102
Basic materials [Member] | Level II [Member]
Total equity securities
Basic materials [Member] | Level III [Member]
Total equity securities
Communications [Member]
Total equity securities	4,230	2,827
Communications [Member] | Level I [Member]
Total equity securities	4,230	2,827
Communications [Member] | Level II [Member]
Total equity securities
Communications [Member] | Level III [Member]
Total equity securities
Consumer, cyclical [Member]
Total equity securities	7,872	5,261
Consumer, cyclical [Member] | Level I [Member]
Total equity securities	7,872	5,261
Consumer, cyclical [Member] | Level II [Member]
Total equity securities
Consumer, cyclical [Member] | Level III [Member]
Total equity securities
Consumer, non-cyclical [Member]
Total equity securities	9,902	4,218
Consumer, non-cyclical [Member] | Level I [Member]
Total equity securities	9,902	4,218
Consumer, non-cyclical [Member] | Level II [Member]
Total equity securities
Consumer, non-cyclical [Member] | Level III [Member]
Total equity securities
Energy [Member]
Total equity securities	1,920	1,287
Energy [Member] | Level I [Member]
Total equity securities	1,920	1,287
Energy [Member] | Level II [Member]
Total equity securities
Energy [Member] | Level III [Member]
Total equity securities
Financial [Member]
Total equity securities	2,532	591
Financial [Member] | Level I [Member]
Total equity securities	2,532	591
Financial [Member] | Level II [Member]
Total equity securities
Financial [Member] | Level III [Member]
Total equity securities
Industrial [Member]
Total equity securities	8,251	5,017
Industrial [Member] | Level I [Member]
Total equity securities	8,251	5,017
Industrial [Member] | Level II [Member]
Total equity securities
Industrial [Member] | Level III [Member]
Total equity securities
Technology [Member]
Total equity securities	8,730	6,614
Technology [Member] | Level I [Member]
Total equity securities	8,730	6,614
Technology [Member] | Level II [Member]
Total equity securities
Technology [Member] | Level III [Member]
Total equity securities

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2017
Reinsurance Disclosures [Abstract]
Reinsurance Retention Policy, Amount Retained	$ 5,000
Reinsurance Retention Policy, Excess Retention, Amount Reinsured	74,600
Retained risk amount	5,000
Catastrophic retention amount increased	$ 10,000
Ceded reinsurance commission percentage	100.00%	100.00%

Reinsurance (Schedule of reconc

Reinsurance (Schedule of reconciliation of direct to net premiums on both a written and an earned basis) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Premiums Written
Direct premium	$ 83,671	$ 77,753	$ 120,051	$ 111,569
Assumed premium	3,396	5,926	4,591	7,430
Ceded premium	(8,953)	(27,331)	(11,431)	(30,877)
Net premiums	78,114	56,348	113,211	88,122
Premiums Earned
Direct premium	48,564	38,789	82,680	70,970
Assumed premium	3,368	5,933	4,539	7,413
Ceded premium	(6,279)	(7,586)	(8,757)	(11,132)
Net premiums	$ 45,653	$ 37,136	$ 78,462	$ 67,251
Percentage of assumed premium to net earned premium	7.40%	16.00%	5.80%	11.00%

Reinsurance (Schedule of reco46

Reinsurance (Schedule of reconciliation of direct to net losses and loss adjustment expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reinsurance Disclosures [Abstract]
Direct losses and LAE	$ 36,093	$ 39,490	$ 55,735	$ 51,348
Assumed losses and LAE	2,024	2,979	2,613	3,821
Ceded losses and LAE	(1,887)	(11,373)	(4,397)	(12,584)
Net losses and LAE	$ 36,230	$ 31,096	$ 53,951	$ 42,585

Deferred Policy Acquisition C47

Deferred Policy Acquisition Costs (Schedule of deferred policy acquisition costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Deferred Policy Acquisition Costs Disclosures [Abstract]
Balance, beginning of period	$ 9,681	$ 8,657	$ 8,942	$ 8,444
Deferral of policy acquisition costs	10,746	8,113	16,494	12,367
Amortization of deferred policy acquisition costs	(6,301)	(6,193)	(11,310)	(10,234)
Balance, end of period	$ 14,126	$ 10,577	$ 14,126	$ 10,577

Unpaid Losses and Loss Adjust48

Unpaid Losses and Loss Adjustment Expenses (Schedule of liability for unpaid losses and loss adjustment expenses) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Liability for unpaid losses and loss adjustment expense	$ 59,632	$ 45,342
Reinsurance ceded	7,192	5,109
Net balance at beginning of year	52,440	40,233
Incurred related to:
Current year	58,917	123,264
Prior years	(4,966)	(4,756)
Total Incurred	53,951	118,508
Paid related to:
Current year	23,782	90,772
Prior years	20,382	15,529
Total paid	44,164	106,301
Liability for unpaid losses and loss adjustment expense	72,619	59,632
Reinsurance ceded	10,392	7,192
Net balance at end of period	$ 62,227	$ 52,440

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Cost:	$ 17,006		$ 17,006		$ 16,465
Accumulated depreciation	(11,743)		(11,743)		(11,646)
Total property and equipment, net	5,263		5,263		4,819
Depreciation expense	125	$ 94	249	$ 220
Real estate [Member]
Cost:	10,090		$ 10,090		9,578
Real estate [Member] | Minimum [Member]
Estimated Useful Life			10 years
Real estate [Member] | Maximum [Member]
Estimated Useful Life			31 years
Electronic data processing equipment [Member]
Cost:	1,606		$ 1,606		1,637
Electronic data processing equipment [Member] | Minimum [Member]
Estimated Useful Life			5 years
Electronic data processing equipment [Member] | Maximum [Member]
Estimated Useful Life			7 years
Furniture and fixtures [Member]
Cost:	3,762		$ 3,762		3,762
Furniture and fixtures [Member] | Minimum [Member]
Estimated Useful Life			5 years
Furniture and fixtures [Member] | Maximum [Member]
Estimated Useful Life			7 years
Automobiles [Member]
Cost:	$ 1,548		$ 1,548		$ 1,488
Automobiles [Member] | Minimum [Member]
Estimated Useful Life			2 years
Automobiles [Member] | Maximum [Member]
Estimated Useful Life			3 years

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Average number of common shares outstanding	22,663,280	22,711,373
Net common shares outstanding	22,313,329	22,313,329	0
Purchased shares of common stock	446,671
Repurchased, value		$ 8,037
Authorized amount	$ 8,000	8,000
Common Stock [Member]
Net common shares outstanding			22,760,000
Repurchased, value

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
NDFB [Member]
Related Party Transaction [Line Items]
Royalties	$ 357	$ 342	$ 651	$ 627
Accrued royalties	156		156		$ 96
Battle Creek [Member]
Related Party Transaction [Line Items]
Related party revenues	11	0	69	0
Related party expenses	$ 41	$ 0	$ 69	$ 0

Related Party Transactions (Sch

Related Party Transactions (Schedule of impact of consolidating Battle Creek into our consolidated balance sheets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Accrued investment income	$ 1,979	$ 1,431
Property and equipment	5,263	4,819
Other assets	3,250	4,334
Total assets	429,666	278,703
Unpaid losses and loss adjustment expenses	72,619	59,632
Unearned premiums	92,194	57,445
Reinsurance payable	6,018	39
Total liabilities	186,882	125,285
Non-controlling interest	3,597	3,522
Total equity	242,784	153,418
Total liabilities and equity	429,666	278,703
Battle Creek [Member]
Related Party Transaction [Line Items]
Cash and cash equivalents (overdraft)	(92)	124
Investments	4,436	4,290
Premiums and agents' balances receivable	3,658	2,841
Reinsurance recoverables on losses (eliminated in consolidation)	24,082	19,299
Accrued investment income	31	31
Deferred income tax asset, net	850	915
Property and equipment	376	331
Other assets	120	55
Total assets	33,461	27,886
Unpaid losses and loss adjustment expenses	11,347	8,917
Unearned premiums	12,735	10,382
Notes payable (eliminated in consolidation)	3,000	3,000
Reinsurance payable	89	992
Accrued expenses and other liabilities	2,693	1,073
Total liabilities	29,864	24,364
Non-controlling interest	3,597	3,522
Total equity	3,597	3,522
Total liabilities and equity	$ 33,461	$ 27,886

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Company's Total contribution to the money purchase plan	$ 315	$ 393	$ 469	$ 590
Company's total contributions to the 401(k) plan	230	$ 236	345	$ 354
Funds deposited in deferred compensation	$ 15		$ 120
Minimum [Member]
Employee contribution in percentage			3.00%
Maximum [Member]
Employee contribution in percentage			50.00%

Line of Credit (Details)

Line of Credit (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Line of credit with Wells Fargo	$ 3,000	$ 3,000
Line of credit expiration date	Oct. 31, 2017

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Unrecognized tax benefits
Interest and penalties
Battle Creek [Member]
Net operating loss carryover	$ 5,171	5,171
Net capital loss carryovers		$ 247
Expiration date	Dec. 31, 2030

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Leases, Operating [Abstract]
Operating lease expenses	$ 10	$ 23	$ 20	$ 45
Minimum future payments under these non-cancellable leases	$ 100		$ 100
Lease expiration date			Dec. 31, 2017

Segment Information (Schedule o

Segment Information (Schedule of revenue by insurance product line) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Net premium earned	$ 45,653	$ 37,136	$ 78,462	$ 67,251
Fee and other income	321	508	668	812
Net investment income	1,447	1,182	2,590	2,315
Net realized capital gains on investments	339	130	955	219
Total revenues	47,760	38,956	82,675	70,597
Multi-Peril Crop and Hail [Member]
Revenues:
Net premium earned	12,814	6,930	13,914	7,220
Non Standard Auto [Member]
Revenues:
Net premium earned	2,590	2,707	5,121	5,309
Other property and casualty coverages [Member]
Revenues:
Net premium earned	$ 30,249	$ 27,499	$ 59,427	$ 54,722