ICC (ICCH) 10-K 28 Mar 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 11, 2024	Jun. 30, 2023
Document Information [Line Items]
Entity Central Index Key	0001681903
Entity Registrant Name	ICC Holdings, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-38046
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	81-3359409
Entity Address, Address Line One	225 20th Street
Entity Address, City or Town	Rock Island
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61201
City Area Code	309
Local Phone Number	793-1700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ICCH
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 31,649,025
Entity Common Stock, Shares Outstanding		3,138,976
Auditor Name	Johnson Lambert LLP
Auditor Location	Vienna, VA
Auditor Firm ID	262

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Dec. 31, 2023	Dec. 31, 2022
Investments and cash:
Fixed maturity securities (amortized cost of $119,336,041 at 12/31/2023 and $104,580,681 at 12/31/2022)		$ 110,955,697	$ 93,388,971
Other invested assets, net of allowances for credit losses of $39,000 at 12/31/2023 and $0 at 12/31/2022		8,898,409	4,722,137
Property held for investment, at cost, net of accumulated depreciation of $682,402 at 12/31/2023 and $609,282 at 12/31/2022		5,910,864	6,002,233
Cash and cash equivalents		1,478,135	3,139,986
Total investments and cash		142,331,022	130,464,839
Accrued investment income		915,156	791,812
Premiums and reinsurance balances receivable, net of allowances for credit losses of $143,000 at 12/31/2023 and $50,000 at 12/31/2022		37,220,433	31,270,460
Ceded unearned premiums		755,099	947,851
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for credit losses of $82,000 at 12/31/2023 and $0 at 12/31/2022		12,736,579	13,610,295
Income taxes - current		127,730	22,042
Income taxes - deferred		2,647,636	3,296,688
Deferred policy acquisition costs, net		8,552,459	7,167,036
Property and equipment, at cost, net of accumulated depreciation of $6,990,076 at 12/31/2023 and $6,590,602 at 12/31/2022		3,325,322	3,313,719
Other Assets, net of allowances for credit losses of $5,000 at 12/31/2023 and $0 at 12/31/2022		2,405,577	1,277,469
Total assets		211,017,013	192,162,211
Liabilities:
Total gross unpaid losses and LAE		71,919,585	67,614,063
Unearned premiums		47,259,637	40,527,182
Reinsurance balances payable		1,132,301	1,405,337
Corporate debt		15,000,000	15,000,000
Accrued expenses		7,442,617	6,072,020
Other liabilities		1,259,324	1,102,678
Total liabilities		144,013,464	131,721,280
Equity:
Common stock	[1]	35,000	35,000
Treasury stock, at cost	[2]	(5,710,324)	(5,463,535)
Additional paid-in capital		33,330,846	33,119,125
Accumulated other comprehensive (loss), net of tax		(6,621,336)	(8,841,517)
Retained earnings		47,844,368	43,701,233
Less: Unearned Employee Stock Ownership Plan shares at cost	[3]	(1,875,005)	(2,109,375)
Total equity		67,003,549	60,440,931
Total liabilities and equity		211,017,013	192,162,211
Common Stock [Member]
Investments and cash:
Stocks at fair value		12,191,621	20,438,907
Preferred Stock [Member]
Investments and cash:
Stocks at fair value		$ 2,896,296	$ 2,772,605
[1]Par value $0.01; authorized: 2023 - 10,000,000 shares and 2022 – 10,000,000 shares; issued: 2023 – 3,500,000 shares and 2022 – 3,500,000 shares; outstanding: 2023 – 3,137,228 and 2022 – 3,153,741 shares[2]2023 – 362,772 shares and 2022 – 346,259 shares[3]2023 – 199,313 shares and 2022 – 210,935 shares

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fixed maturity securities, amortized cost	$ 119,336,041	$ 104,580,681
Other invested assets, allowances for credit losses	39,000	0
Property held for investment, accumulated depreciation	682,402	609,282
Premiums and reinsurance balances receivable, allowances for uncollectible amounts	143,000	50,000
Reinsurance balances recoverable on unpaid losses and settlement expenses, allowances for uncollectible amounts	82,000	0
Property and equipment, at cost, accumulated depreciation	6,990,076	6,590,602
Allowance for Credit Loss, Receivable, Other, Current	$ 5,000	$ 0
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	3,500,000	3,500,000
Common stock, shares outstanding (in shares)	3,138,976	3,153,741
Treasury stock, shares (in shares)	361,024	346,259
Unearned Employee Stock Ownership Plan (in shares)	187,498	210,935

Consolidated Statements of Earn

Consolidated Statements of Earnings and Comprehensive Earnings - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net premiums earned	$ 75,717,108	$ 69,057,343
Net investment income	5,179,343	4,034,228
Net realized investment gains	672,857	874,470
Net unrealized gains (losses) on investments	1,135,905	(4,706,405)
Other income	236,914	420,202
Total revenue	82,942,127	69,679,838
Losses and settlement expenses	47,929,630	44,532,729
Policy acquisition costs and other operating expenses	28,521,973	24,896,120
Interest expense on debt	184,122	196,070
General corporate expenses	784,308	776,747
Total expenses	77,420,033	70,401,666
Loss before equity earnings of subsidiaries and income taxes	5,522,094	(721,828)
Income tax expense:
Current	1,176,081	984,897
Deferred income tax	89,118	(1,125,063)
Total	1,265,199	(140,166)
Net loss before equity earnings of subsidiaries	$ 4,256,895	$ (581,662)
Basic:
Basic net earnings (loss) per share (in dollars per share)	$ 1.44	$ (0.19)
Diluted:
Diluted net earnings (loss) per share (in dollars per share)	$ 1.43	$ (0.19)
Weighted average number of common shares outstanding:
Basic (in shares)	2,946,892	3,032,155
Diluted (in shares)	2,966,679	3,032,155
Net earnings (loss)	$ (4,256,895)	$ 581,662
Other comprehensive earnings (loss), net of tax
Unrealized holdings gains (losses) arising during the period, net of income tax expense (benefit) of $577,835 in 2023 and $(3,128,757) in 2022	2,173,761	(11,770,084)
Excluding losses included in net income, net of income tax (benefit) of $(12,340) in 2023 and $(2,270) in 2022	46,420	8,540
Total other comprehensive earnings (loss)	2,220,181	(11,761,544)
Comprehensive earnings (loss)	$ 6,477,076	$ (12,343,206)

Consolidated Statements of Ea_2

Consolidated Statements of Earnings and Comprehensive Earnings (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
OCI, Debt Securities, Available-for-Sale, Gain (Loss), before Adjustment, Tax	$ 577,835	$ (3,128,757)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	$ (12,340)	$ (2,270)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Treasury Stock, Common [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Unearned ESOP [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Treasury Stock, Common [Member]		Unearned ESOP [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Cumulative adjustment for adoption of ASU 2016-13, net of tax								$ (35,000)	$ 3,155,399		$ 2,343,745	$ (32,965,136)	$ (44,282,895)	$ (2,920,027)	$ (74,703,914)
Balance at Dec. 31, 2021								35,000	(3,155,399)		(2,343,745)	32,965,136	44,282,895	2,920,027	74,703,914
Purchase of treasury stock								0	(2,509,582)		0	0	0	0	(2,509,582)
Net earnings								0	0		0	0	(581,662)	0	(581,662)
Other comprehensive earnings, net of tax								0	0		0	0	0	(11,761,544)	(11,761,544)
Restricted stock unit expense								0	201,446	[1]	0	3,957	0	0	205,403
ESOP compensation expense								0	0		234,370	150,032	0	0	384,402
Balance at Dec. 31, 2022								35,000	(5,463,535)		(2,109,375)	33,119,125	43,701,233	(8,841,517)	60,440,931
Cumulative adjustment for adoption of ASU 2016-13, net of tax								(35,000)	5,463,535		2,109,375	(33,119,125)	(43,701,233)	8,841,517	(60,440,931)
Purchase of treasury stock								0	(405,463)		0	0	0	0	(405,463)
Net earnings								0	0		0	0	4,256,895	0	4,256,895
Other comprehensive earnings, net of tax								0	0		0	0	0	2,220,181	2,220,181
Restricted stock unit expense								0	158,674	[1]	0	73,612	0	0	232,286
ESOP compensation expense								0	0		234,370	138,109	0	0	372,479
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2023	$ 0	$ 0	$ 0	$ 0	$ 113,760	$ 0	$ 113,760
Balance at Dec. 31, 2023								35,000	(5,710,324)		(1,875,005)	33,330,846	47,844,368	(6,621,336)	67,003,549
Cumulative adjustment for adoption of ASU 2016-13, net of tax | Accounting Standards Update 2016-13 [Member]	$ 0	$ 0	$ 0	$ 0	$ (113,760)	$ 0	$ (113,760)
Cumulative adjustment for adoption of ASU 2016-13, net of tax								$ (35,000)	$ 5,710,324		$ 1,875,005	$ (33,330,846)	$ (47,844,368)	$ 6,621,336	$ (67,003,549)
[1]Amount represents restricted stock units that have fully vested in the period.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net earnings (loss)	$ 4,256,895	$ (581,662)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities
Net realized investment gains	(672,857)	(874,470)
Net unrealized (gains) losses on investments	(1,135,905)	4,706,405
Depreciation	763,815	693,067
Deferred income tax	89,118	(1,125,063)
Amortization of bond premium and discount	53,322	175,085
Stock-based compensation expense	604,765	589,805
Change in:
Accrued investment income	(123,344)	(132,399)
Premiums and reinsurance balances receivable	(5,949,973)	(4,070,656)
Ceded unearned premiums	192,752	19,171
Reinsurance balances recoverable	775,716	910,924
Deferred policy acquisition costs	(1,385,423)	(628,192)
Unpaid losses and settlement expenses	4,305,522	5,779,254
Unearned premiums	6,732,455	4,314,916
Reinsurance balances payable	(273,036)	37,043
Accrued expenses	1,370,597	630,409
Current federal income tax	(105,688)	173,652
Other	(978,466)	137,845
Net cash provided by operating activities	8,520,265	10,755,134
Cash flows from investing activities:
Fixed maturity securities	(26,444,434)	(20,443,812)
Other invested assets	(4,805,110)	(1,874,993)
Property held for investment	(1,633,885)	(940,997)
Property and equipment	(617,324)	(711,133)
Proceeds from sales, maturities and calls of:
Fixed maturity securities	11,578,761	17,820,507
Other invested assets	373,307	238,723
Property held for investment	1,545,977	278,679
Property and equipment	21,182	17,763
Net cash used in investing activities	(9,776,653)	(6,256,602)
Cash flows from financing activities:
Proceeds from loans	0	5,000,000
Repayments of borrowed funds	0	(8,455,342)
Purchase of treasury stock	(405,463)	(2,509,582)
Net cash used in financing activities	(405,463)	(5,964,924)
Net decrease in cash and cash equivalents	(1,661,851)	(1,466,392)
Cash and cash equivalents at beginning of year	3,139,986	4,606,378
Cash and cash equivalents at end of period	1,478,135	3,139,986
Supplemental information:
Federal income tax paid	500,000	370,000
Interest paid	184,100	190,200
Common Stock [Member]
Cash flows from investing activities:
Equity securities	(4,016,392)	(4,481,474)
Proceeds from sales, maturities and calls of:
Equity securities	14,169,474	4,402,327
Preferred Stock [Member]
Cash flows from investing activities:
Equity securities	(285,649)	(1,208,744)
Proceeds from sales, maturities and calls of:
Equity securities	$ 337,440	$ 646,552

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. DESCRIPTION OF BUSINESS ICC Holdings, Inc. is a Pennsylvania corporation that was organized in 2016. March 2017,  We are a specialty insurance carrier primarily underwriting commercial multi-peril, liquor liability, workers’ compensation, and umbrella liability coverages for the food and beverage industry through our subsidiary insurance company, ICC. ICC writes business in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Ohio, Pennsylvania, Utah, and Wisconsin and markets through independent agents. Approximately 23.1% and 22.6% of the premium was written in Illinois for the years ended December 31, 2023 December 31, 2022 B. PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION The accompanying consolidated financial statements were prepared in conformity with U.S. generally accepted accounting principles (GAAP), which differ in some respects from those followed in reports to insurance regulatory authorities. The consolidated financial statements include the accounts of our subsidiaries. All significant intercompany balances and transactions have been eliminated. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet, revenues and expenses for the periods then ended, and the accompanying notes to the consolidated financial statements. Such estimates and assumptions could change in the future as more information becomes known which could impact the amounts reported and disclosed herein. The most significant of these amounts is the liability for unpaid losses and settlement expenses. Other estimates include investment valuation and current expected credit loss (CECL) allowances, reinsurance recoverables and the collectability of reinsurance balances, recoverability of deferred tax assets, and deferred policy acquisition costs. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. Although recorded estimates are supported by actuarial computations and other supportive data, the estimates are ultimately based on expectations of future events. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in future periods. C. INVESTMENTS AVAILABLE-FOR-SALE SECURITIES Debt securities are classified as available-for-sale (AFS) and reported at fair value. Unrealized gains and losses on these securities are excluded from net earnings but are recorded as a separate component of comprehensive earnings and shareholders’ equity, net of deferred income taxes. EQUITY SECURITIES Equity securities include common stock, mutual funds, and non-redeemable preferred stock. Equity securities are carried at fair value with subsequent changes in fair value recorded in net earnings. CURRENT EXPECTED CREDIT LOSSES Effective with the adoption of ASU 2016 13, January 1, 2023, not • the extent to which the fair value is less than cost; • adverse conditions related to the security, an industry, geographic area such as changes in the financial condition of the issuer of the security, changes in the technology, or discontinuation of a segment of the business that may • the payment structure of the debt security and the likelihood of the issuer being able to make future payments; • failure of the issuer of the security to make scheduled interest or principal payments; and • any changes to the rating of the security by a rating agency. In addition, we no January 1, 2023, December 31, 2023 no Quantitative and qualitative criteria are considered to varying degrees depending on the sector in which the analysis is being performed. The sectors are as follows: Corporates The Company performs a qualitative evaluation of holdings that fall below a price threshold and above a spread threshold. The analysis begins with an opinion of industry and competitive position. This includes an assessment of factors that enable the profit structure of the business (e.g., reserve profile for exploration and production companies), competitive advantage (e.g., distribution system), management strategy, and an analysis of trends in return on invested capital. Analysts may Municipals The Company performs a qualitative evaluation of holdings that fall below a price threshold and above a spread threshold. This analysis includes an assessment of the factors that may Structured Securities The "stated assumptions" analytic approach relies on actual 6 third no INVESTMENT INCOME Interest on fixed maturities and short-term investments is credited to earnings on an accrual basis. Premiums and discounts are amortized or accreted over the lives of the related fixed maturities. Dividends on equity securities are credited to earnings on the ex-dividend date. Realized gains and losses on disposition of investments are based on specific identification of the investments sold on the settlement date, which does not D. OTHER INVESTED ASSETS Other invested assets include notes receivable, stock, a limited partnership, a SAFE investment, Funds at Lloyd's, and membership in the FHLBC. Notes receivable are carried at outstanding balance plus accrued interest, which management believes reflects fair value. Stock is at fair value when available. The limited partnership is accounted for under the equity method, which is considered a related party. The SAFE investment and the membership in FHLBC are carried at cost. E. PROPERTY HELD FOR INVESTMENT Property held for investment purposes is initially recorded at the purchase price, which is generally fair value, and is subsequently reported at cost less accumulated depreciation. Buildings are depreciated on a straight-line basis over the estimated useful life of the building, which we estimate to be 39 years. Income from property held for investment is reported as net investment income. F. CASH AND CASH EQUIVALENTS Cash consists of uninvested balances in bank accounts. Cash equivalents consist of investments with original maturities of 90 not G. REINSURANCE Ceded unearned premiums and reinsurance balances recoverable on paid and unpaid losses and settlement expenses are reported separately as assets instead of being netted with the related liabilities, since reinsurance does not Annually, the Company monitors the financial condition of its reinsurers. The Company’s monitoring efforts include, but are not may H. POLICY ACQUISITION COSTS The Company defers commissions, premium taxes, and certain other costs that are incrementally or directly related to the successful acquisition of new or renewal insurance contracts. Acquisition-related costs may I. PROPERTY AND EQUIPMENT Property and equipment are presented at cost, less accumulated depreciation, and are depreciated using accelerated methods for financial statement purposes for a period based on their economic life. Computer equipment is depreciated over 3 years and equipment over a range of 5 to 7 years. Buildings are depreciated over 39 years and related improvements over 15 years. Annually, the Company reviews the major asset classes held for impairment. For the years ended December 31, 2023, 2022 As of December 31, December 31, 2023 2022 Automobiles $ 645,458 $ 637,306 Furniture and fixtures 525,843 520,835 Computer equipment and software 5,037,301 4,720,932 Home office 4,106,796 4,025,248 Total cost 10,315,398 9,904,321 Accumulated depreciation (6,990,076 ) (6,590,602 ) Net property and equipment $ 3,325,322 $ 3,313,719 J. UNPAID LOSSES AND SETTLEMENT EXPENSES The liability for unpaid losses and settlement expenses represents estimates of both reported and unreported claims and related expenses. The estimates are based on various actuarial reserving methodologies and other assumptions related to the ultimate cost to settle such claims. The reserving methodologies used are Loss Development for paid and incurred loss and settlement expense, Expected Loss Ratio for ultimate loss and settlement expense, Bornhuetter-Ferguson (B-F) for paid and incurred loss, and A&OE (also known as the "Wendy Johnson Method") for unpaid adjusting and other expense. The assumptions used are subject to occasional changes due to evolving economic, social, and political conditions. There were no December 31, 2023 All estimates are periodically reviewed and, as experience develops and new information becomes known, the reserves are adjusted, as necessary. Such adjustments are reflected in the results of operations in the period in which they are determined. Due to the inherent uncertainty in estimating reserves for losses and settlement expenses, there can be no not December 31, 2023 Note 7 Unpaid Losses and Settlement Expenses K. PREMIUMS Premiums are recognized ratably over the term of the contracts, net of ceded reinsurance. Unearned premiums represent the portion of premiums written relative to the unexpired terms of coverage. Unearned premiums are calculated on a daily pro rata basis. A premium deficiency reserve should be recognized if the sum of expected claim costs and claim adjustment expenses, expected dividends to policyholders, unamortized acquisition costs, and maintenance costs exceed related unearned premiums. The Company concluded that no December 31, 2023, 2022 L. GENERAL CORPORATE EXPENSES General corporate expenses consist primarily of real estate and occupancy costs, such as utilities and maintenance, and CECL expenses. These costs do not M. INCOME TAXES The Company files a consolidated federal income tax return. Federal income taxes are accounted for using the asset and liability method under which deferred income taxes are recognized for the tax consequences of "temporary differences" by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities, operating losses, and tax credit carry forwards. The effect on deferred taxes for a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance if it is more likely than not not The Company considers uncertainties in income taxes and recognizes those in its consolidated financial statements as required. As it relates to uncertainties in income taxes, unrecognized tax benefits, including interest and penalty accruals, are not no 12 ICC is subject to minimal state income tax liabilities. On a state basis, since the majority of income is from insurance operations, the Company pays premium taxes in lieu of state income tax. Premium taxes are a component of policy acquisition costs and calculated as a percentage of gross premiums written. N. EMPLOYEE STOCK OWNERSHIP PLAN  The Company recognizes employee stock ownership plan (ESOP) compensation expense ratably during each year for the shares committed to be allocated to participants that year. This expense is determined by the fair market value of our stock at the time the commitment to allocate the shares is accrued and recognized. For purposes of balance sheet disclosures of shares outstanding, the Company includes only the number of ESOP shares that have been committed to be released for the period. For purposes of calculating earnings per share, the Company includes the weighted average ESOP shares committed to be released for the period. The ESOP covers all employees who have worked a minimum of 500  O. EARNINGS PER SHARE  Basic earnings per share (EPS) is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the dilution that could occur if securities or other contracts to issue common stock or common stock equivalents were exercised or converted into common stock. When inclusion of these items increases the earnings per share or reduces the loss per share, the effect on earnings is anti-dilutive. Under these circumstances, the diluted net earnings or net loss per share is computed excluding these items. P. COMPREHENSIVE EARNINGS Comprehensive earnings include net earnings plus unrealized gains (losses) on AFS investment securities, net of tax. In reporting the components of comprehensive earnings on a net basis in the consolidated statement of earnings, the Company used a 21% tax rate for the years ended December 31, 2023 2022 2023 2022 The following table presents changes in accumulated other comprehensive earnings for unrealized gains and losses on available-for-sale fixed maturity securities: Year Ended December 31, 2023 2022 Beginning balance $ (8,841,517 ) $ 2,920,027 Other comprehensive earnings (loss) before reclassification 2,173,761 (11,770,084 ) Amount reclassified from accumulated other comprehensive earnings 46,420 8,540 Net current period other comprehensive earnings (loss) 2,220,181 (11,761,544 ) Ending balance $ (6,621,336 ) $ (8,841,517 ) Amounts Reclassified from Accumulated Other Comprehensive Loss Twelve-Month Periods Ended Details about Accumulated Other December 31, Affected Line Item in the Statement Comprehensive Earnings Component 2023 2022 where Net Earnings is Presented Unrealized losses on AFS investments: $ 58,760 $ 10,810 Net realized investment losses (12,340 ) (2,270 ) Income tax (benefit) Total exclusion, net of tax $ 46,420 $ 8,540 Q. ADOPTED ACCOUNTING PRONOUNCEMENTS Financial Instruments Credit Losses (ASU 2018 19 2016 13 January 1, 2023, 2016 13, 326 2016 13 2016 13 R. PROSPECITIVE ACCOUNTING STANDARDS The dates presented below represent the implementation dates for the Company. Improvements to Income Tax Disclosures (ASU 2023 09 January 1, 2025, 2023 09, 740 2023 09 December 15, 2024. S. RISKS AND UNCERTAINTIES Certain risks and uncertainties are inherent to day-to-day operations and to the process of preparing the Company’s consolidated financial statements. The more significant risks and uncertainties, as well as the Company’s attempt to mitigate, quantify, and minimize such risks, are presented below and throughout the notes to the consolidated financial statements. Catastrophe Exposures The Company’s insurance coverages include exposure to catastrophic events. All catastrophe exposures are monitored by quantifying exposed policy limits in each region and by using computer-assisted modeling techniques. Additionally, the Company limits its risk to such catastrophes through restraining the total policy limits written in each region and by purchasing reinsurance. The Company’s major catastrophe exposure is to losses caused by tornado/hail and freeze to commercial properties throughout the Midwest. The Company had protection of $14.0 million in excess of $1.0 million for both the years ended December 31, 2023, 2022 January 1, 2024. Reinsurance Reinsurance does not $0 December 31, 2023, 2022 Note 6 Reinsurance Investment Risk The investment portfolio is subject to market, credit, and interest rate risks. The equity portfolio will fluctuate with movements in the overall stock market. While the equity portfolio has been constructed to have lower downside risk than the market, the portfolio is sensitive to movements in the market. The bond portfolio is affected by interest rate changes and movement in credit spreads. The Company attempts to mitigate its interest rate and credit risks by constructing a well-diversified portfolio with high-quality securities with varied maturities. Downturns in the financial markets could have a negative effect on the portfolio. However, the Company attempts to manage this risk through asset allocation, duration, and security selection. Liquidity Risk Liquidity is essential to the Company’s business and a key component of the concept of asset-liability matching. The Company’s liquidity may may may third The Company’s A.M. Best rating is important to its liquidity. A reduction in credit ratings could adversely affect the Company’s liquidity and competitive position by increasing borrowing costs or limiting access to the capital markets. External Factors The Company is highly regulated by the state of Illinois and by the states in which it underwrites business. Such regulations, among other things, limit the amount of dividends, impose restrictions on the amount and types of investments, and regulate rates insurers may T. INTANGIBLES Intangible assets are reported within Other Assets on the Consolidated Balance Sheets. Finite-lived intangible assets are amortized over their estimated useful lives. Intangible assets are presented in the following table. 2023 2022 Inception date Economic Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets: Guild customer/broker relationships and name recognition 10/2/2023 15 years $ 1,005,783 $ 16,763 $ — $ — Katkin customer/supplier relationships, certifications, and system 10/1/2021 3 years 47,500 35,625 47,500 19,792 Total intangible assets $ 1,053,283 $ 52,388 $ 47,500 $ 19,792 The National Association of Insurance Commissioners (NAIC) has developed Property/Casualty Risk-Based Capital (RBC) standards that relate an insurer’s reported statutory surplus to the risks inherent in its overall operations. The RBC formula uses the statutory annual statement to calculate the minimum indicated capital level to support asset (investment and credit) risk and underwriting (loss reserves, premiums written, and unearned premium) risk. The NAIC model law calls for various levels of regulatory action based on the magnitude of an indicated RBC capital deficiency, if any. As of December 31, 2023 Note 10 Statutory Information and Dividend Restrictions In addition, ratings are a critical factor in establishing the competitive position of insurance companies. The Company is rated by A.M. Best. This rating reflects their opinion of the insurance company’s financial strength, operating performance, strategic position, and ability to meet its obligations to policyholders.

Note 2 - Investments

Note 2 - Investments	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	2. INVESTMENTS NET INVESTMENT INCOME A summary of net investment income for the years ended December 31, 2023, 2022 2023 2022 AFS, fixed maturity securities $ 4,099,739 $ 3,122,028 Investment property 953,532 904,533 Equity securities 838,959 778,707 Other Invested Assets 136,709 154,332 Cash and short-term investments 100,404 24,628 Investment revenue 6,129,343 4,984,228 Less investment expenses (950,000 ) (950,000 ) Net investment income $ 5,179,343 $ 4,034,228 INVESTMENT RELATED GAINS (LOSSES) The following is a summary of the proceeds from sales, maturities, and calls of fixed maturity and equity securities and the related gross realized gains and losses for the years ended December 31, 2023, 2022 Net Realized Proceeds Gains Losses Gains (Losses) 2023 Fixed maturity securities $ 11,578,761 $ — $ (58,760 ) $ (58,760 ) Common stocks 14,169,474 2,336,113 (1,627,268 ) 708,845 Preferred stocks 337,440 29,371 (6,599 ) 22,772 2022 Fixed maturity securities $ 17,820,507 $ 107,368 $ (118,178 ) $ (10,810 ) Common stocks 4,402,327 1,213,519 (316,079 ) 897,440 Preferred stocks 646,552 8,748 (20,908 ) (12,160 ) The amortized cost and estimated fair value of fixed income securities at December 31, 2023 Amortized Cost Fair Value Due in one year or less $ 4,747,381 $ 4,693,100 Due after one year through five years 14,750,461 14,212,036 Due after five years through 10 years 23,879,765 22,518,014 Due after 10 years 26,372,013 22,341,659 Asset and mortgage-backed securities without a specific due date 49,400,028 47,020,328 Redeemable preferred stocks 186,393 170,560 Total fixed maturity securities $ 119,336,041 $ 110,955,697 Expected maturities may The following table is a schedule of amortized cost and estimated fair values of investments in securities classified as available for sale at December 31, 2023, 2022 Gross Unrealized Amortized Cost Fair Value Gains Losses 2023 Fixed maturity securities: U.S. Treasury $ 1,351,768 $ 1,289,774 $ — $ (61,994 ) MBS/ABS/CMBS 49,400,028 47,020,328 283,957 (2,663,657 ) Corporate 45,764,492 42,981,718 287,412 (3,070,186 ) Municipal 22,633,360 19,493,317 153,103 (3,293,146 ) Redeemable preferred stock 186,393 170,560 — (15,833 ) Total fixed maturity securities $ 119,336,041 $ 110,955,697 $ 724,472 $ (9,104,816 ) Gross Unrealized Amortized Cost Fair Value Gains Losses 2022 Fixed maturity securities: U.S. Treasury $ 1,352,752 $ 1,252,960 $ — $ (99,792 ) MBS/ABS/CMBS 41,858,596 38,803,341 51,477 (3,106,732 ) Corporate 39,716,139 35,602,055 38,867 (4,152,951 ) Municipal 21,437,389 17,541,694 78,117 (3,973,812 ) Redeemable preferred stock 215,805 188,921 — (26,884 ) Total fixed maturity securities $ 104,580,681 $ 93,388,971 $ 168,461 $ (11,360,171 ) MORTGAGE-BACKED, COMMERCIAL MORTGAGE-BACKED AND ASSET-BACKED SECURITIES All the Company’s collateralized securities carry an average credit rating of AA by one December 31, 2023, 2022 no December 31, 2023 December 31, 2022 UNREALIZED LOSSES ON AFS SECURITIES The following table is also used as part of the impairment analysis and displays the total value of securities that were in an unrealized loss position as of December 31, 2023, 2022 December 31, 2023 December 31, 2022 12 Months 12 Months < 12 Months & Greater Total < 12 Months & Greater Total Fixed Maturity Securities: U.S. Treasury Fair value $ — $ 1,289,774 $ 1,289,774 $ 615,367 $ 637,594 $ 1,252,961 Amortized cost — 1,351,768 1,351,768 652,424 700,329 1,352,753 Unrealized loss — (61,994 ) (61,994 ) (37,057 ) (62,735 ) (99,792 ) MBS/ABS/CMBS Fair value 8,345,340 24,323,865 32,669,205 21,199,819 12,833,310 34,033,129 Amortized cost 8,462,010 26,870,852 35,332,862 22,564,779 14,575,082 37,139,861 Unrealized loss (116,670 ) (2,546,987 ) (2,663,657 ) (1,364,960 ) (1,741,772 ) (3,106,732 ) Corporate Fair value 477,051 33,352,754 33,829,805 27,688,403 5,829,396 33,517,799 Amortized cost 478,370 36,421,621 36,899,991 30,584,890 7,085,860 37,670,750 Unrealized loss (1,319 ) (3,068,867 ) (3,070,186 ) (2,896,487 ) (1,256,464 ) (4,152,951 ) Municipal Fair value — 12,149,238 12,149,238 11,502,050 2,079,831 13,581,881 Amortized cost — 15,442,384 15,442,384 14,590,996 2,964,697 17,555,693 Unrealized loss — (3,293,146 ) (3,293,146 ) (3,088,946 ) (884,866 ) (3,973,812 ) Redeemable preferred stock Fair value 149,240 21,320 170,560 188,921 — 188,921 Amortized cost 161,549 24,844 186,393 215,805 — 215,805 Unrealized loss (12,309 ) (3,524 ) (15,833 ) (26,884 ) — (26,884 ) Total Fair value 8,971,631 71,136,951 80,108,582 61,194,560 21,380,131 82,574,691 Amortized cost 9,101,929 80,111,469 89,213,398 68,608,894 25,325,968 93,934,862 Unrealized loss $ (130,298 ) $ (8,974,518 ) $ (9,104,816 ) $ (7,414,334 ) $ (3,945,837 ) $ (11,360,171 ) The fixed income portfolio contained 221 securities in an unrealized loss position as of December 31, 2023 12 not not not There were no twelve December 31, 2023 no December 31, 2022 not may As required by law, certain fixed maturity investments amounting to $3,351,574 and $3,290,386 at December 31, 2023, 2022 UNREALIZED GAINS AND LOSSES ON INVESTMENTS Net unrealized gains and losses for the twelve December 31, 2023, 2022 December 31, 2023 December 31, 2022 OTHER INVESTED ASSETS  Other invested assets as of December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 As of December 31, 2023 three November 2021, may May December 2023, December 31, 2023 December 31, 2022 no December 31, 2022 As of December 31, 2023 twelve December 31, 2023 December 31, 2023 December 31, 2022 The Funds at Lloyd's and membership in the FHLBC are carried at cost. PROPERTY HELD FOR INVESTMENT As of December 31, 2023 seven December 31, 2023 2022 December 31, 2023 2022

Note 3 - Fair Value Disclosures

Note 3 - Fair Value Disclosures	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3. FAIR VALUE DISCLOSURES Fair value is defined as the price in the principal market that would be received for an asset to facilitate an orderly transaction between market participants on the measurement date. We determined the fair value of certain financial instruments based on their underlying characteristics and relevant transactions in the marketplace. GAAP guidance requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance also describes three may The following are the levels of the fair value hierarchy and a brief description of the type of valuation inputs that are used to establish each level: ● Level 1 ● Level 2 ● Level 3 one As a part of the process to determine fair value, management utilizes widely recognized, third third Corporate, Agencies, and Municipal Bonds two 2. 2. Mortgage-backed Securities (MBS), Collateralized Mortgage Obligations (CMO), Commercial Mortgage-backed Securities (CMBS) and Asset-backed Securities (ABS) 2. 2. U.S. Treasury Bonds, Common Stocks, and Exchange Traded Funds 1 1. Preferred Stock not not 2. 2. Due to the relatively short-term nature of cash and cash equivalents, their carrying amounts are reasonable estimates of fair value. Other invested assets include notes receivable, stock, a limited partnership, a SAFE investment, Funds at Lloyd's, and membership in the FHLBC. Notes receivable are carried at outstanding balance plus accrued interest. Stock is at fair value when available. The limited partnership is accounted for under the equity method, which is considered a related party. The SAFE investment and the membership in FHLBC are carried at cost. Assets measured at fair value on a recurring basis as of December 31, 2023 Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,289,774 $ — $ — $ 1,289,774 MBS/ABS/CMBS — 47,020,328 — 47,020,328 Corporate — 42,981,718 — 42,981,718 Municipal — 19,493,317 — 19,493,317 Redeemable preferred stocks — 170,560 — 170,560 Total fixed maturity securities 1,289,774 109,665,923 — 110,955,697 Equity securities Common stocks 12,191,621 — — 12,191,621 Perpetual preferred stocks — 2,896,296 — 2,896,296 Total equity securities 12,191,621 2,896,296 — 15,087,917 Total marketable investments measured at fair value $ 13,481,395 $ 112,562,219 $ — $ 126,043,614 Assets measured at fair value on a recurring basis as of December 31, 2022 Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,252,960 $ — $ — $ 1,252,960 MBS/ABS/CMBS — 38,803,341 — 38,803,341 Corporate — 35,602,055 — 35,602,055 Municipal — 17,541,694 — 17,541,694 Redeemable preferred stocks — 188,921 — 188,921 Total fixed maturity securities 1,252,960 92,136,011 — 93,388,971 Equity securities Common stocks 20,438,907 — — 20,438,907 Perpetual preferred stocks — 2,772,605 — 2,772,605 Total equity securities 20,438,907 2,772,605 — 23,211,512 Total marketable investments measured at fair value $ 21,691,867 $ 94,908,616 $ — $ 116,600,483

Note 4 - Policy Acquisitions Co

Note 4 - Policy Acquisitions Costs	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Deferred Policy Acquisition Costs [Text Block]	4. POLICY ACQUISITION COSTS Policy acquisition costs deferred and amortized to income for the years ended December 31 2023 2022 Deferred policy acquisition costs (DAC), beginning of year $ 7,167,036 $ 6,538,844 Deferred: Direct commission 13,849,194 12,330,776 Premium taxes 1,702,222 1,271,971 Ceding commissions (485,089 ) (693,178 ) Underwriting 1,423,178 1,186,150 Net deferred 16,489,505 14,095,719 Amortized 15,104,082 13,467,527 DAC, end of year $ 8,552,459 $ 7,167,036 Policy acquisition costs: Amortized to expense $ 15,104,082 $ 13,467,527 Period costs: Contingent commission 2,290,826 1,796,256 Other underwriting expenses 11,127,065 9,632,337 Total policy acquisition costs $ 28,521,973 $ 24,896,120

Note 5 - Debt

Note 5 - Debt	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	5. DEBT Debt Obligation As of December 31, 2023, 2022 The Company has borrowing capacity of $48.2 million with the Federal Home Loan Bank of Chicago (FHLBC), which is 25% of net admitted statutory assets of ICC as of year-end. As of December 31, 2023 As a part of the Company's response to COVID- 19, March 2020 five In May 2021, five In May 2022, five The Company has $19.7 million in bonds pledged as collateral for all FHLBC loans. Revolving Line of Credit We increased our revolving line of credit with a commercial bank from $2.0 million to $4.0 million in July 2022. December 31, 2023 July 5, 2024 December 31, 2023 no December 31, 2023, 2022

Note 6 - Reinsurance

Note 6 - Reinsurance	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Reinsurance [Text Block]	6. REINSURANCE In the ordinary course of business, the Company assumes and cedes premiums and selected insured risks with other insurance companies, known as reinsurance. A large portion of the reinsurance is put into effect under contracts known as treaties and, in some instances, by negotiation on each individual risk (known as facultative reinsurance). In addition, there are several types of treaties including quota share, excess of loss, and catastrophe reinsurance contracts that protect against losses over stipulated amounts arising from any one Through the purchase of reinsurance, the Company also generally limits its net loss on any individual risk to a maximum of $1,000,000 for casualty and workers’ compensation business and $1,000,000 for property, although certain treaties contain an annual aggregate deductible before reinsurance applies. Premiums, written and earned, along with losses and settlement expenses incurred for the years ended December 31 2023 2022 WRITTEN Direct $ 92,990,535 $ 82,726,634 Reinsurance assumed 162,368 157,268 Reinsurance ceded (10,510,588 ) (9,492,472 ) Net $ 82,642,315 $ 73,391,430 EARNED Direct $ 86,260,082 $ 78,411,890 Reinsurance assumed 160,365 157,097 Reinsurance ceded (10,703,339 ) (9,511,644 ) Net $ 75,717,108 $ 69,057,343 LOSS AND SETTLEMENT EXPENSES INCURRED Direct $ 52,727,899 $ 50,290,695 Reinsurance assumed 102,365 94,482 Reinsurance ceded (4,900,634 ) (5,852,448 ) Net $ 47,929,630 $ 44,532,729 The reinsurance assumed business consists of assigned risk pools, which require the Company to participate in certain workers’ compensation and other liability pools, as a result of their licensure and premium writings in the various states in which it does business. At December 31, 2023, 2022 The following table displays net reinsurance balances recoverable, after consideration of collateral, on paid losses and settlement expenses, known case and IBNR loss and settlement expense reserves, unearned premiums, and contingent commissions from the Company’s top 10 December 31, 2023 2023 Net Reinsurer Percent Ceded Percent A.M. Best Exposure as of of Premiums of (In thousands) Rating December 31, 2023 Total Written Total General Reinsurance Corporation A++ $ 11,509 74.8 % $ 7,295 69.4 % Renaissance Reinsurance U.S. Incorporated A+ 750 4.9 % 711 6.8 % Hannover Rueck SE A+ 467 3.0 % 427 4.1 % Partner Reinsurance Co. of the U.S. A+ 447 2.9 % — 0.0 % Aspen Insurance UK Ltd. A 336 2.2 % — 0.0 % Swiss Reinsurance A+ 288 1.9 % 78 0.7 % Houston Casualty Company A++ 250 1.6 % 310 2.9 % Axis Reinsurance Company A 210 1.4 % — 0.0 % Everest Reinsurance Company A+ 179 1.2 % — 0.1 % Lloyd's Syndicate Number 2791 A 135 0.9 % 455 4.3 % All other reinsurers including anticipated subrogation 812 5.3 % 1,235 11.7 % $ 15,383 100.0 % $ 10,511 100.0 % Ceded unearned premiums and reinsurance balances recoverable on paid losses and settlement expenses are reported separately as an asset, rather than being netted with the related liability, since reinsurance does not one Once regulatory action (such as receivership, finding of insolvency, order of conservation, or order of liquidation) is taken against a reinsurer, the paid and unpaid recoverable for the reinsurer are specifically identified and written off through the use of the allowance for estimated unrecoverable amounts from reinsurers. When such a balance is written off, it is done in full. The Company then re-evaluates the remaining allowance and determines whether the balance is sufficient as detailed above, and if needed, an additional allowance is recognized, and income charged. The Company had $82.0 thousand and $0 allowances recorded related to CECL on paid and unpaid recoverables at December 31, 2023, 2022 no 90 not

Note 7 - Unpaid Losses and Sett

Note 7 - Unpaid Losses and Settlement Expenses	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]	7. UNPAID LOSSES AND SETTLEMENT EXPENSES Loss Development Tables The following tables represent cumulative incurred losses and settlement expenses, net of reinsurance, by accident year and cumulative paid loss and settlement expenses, net of reinsurance, by accident year, for the years ended December 31, 2014 2023 December 31, 2023 December 31, 2014 2022, PROPERTY LINES Incurred loss and settlement expenses, net of reinsurance ($'s in thousands) As of December 31, 2023 Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 Total IBNR plus expected development on reported claims Cumulative number of reported claims 2014 $ 8,865 $ 7,586 $ 7,798 $ 7,883 $ 7,817 $ 7,785 $ 7,784 $ 7,792 $ 7,794 $ 7,794 $ — 740 2015 7,693 7,494 7,717 7,634 7,654 7,636 7,635 7,642 7,643 — 554 2016 8,941 7,981 8,372 8,381 8,404 8,327 8,387 8,392 (5 ) 576 2017 13,993 13,568 13,741 13,825 13,622 13,593 13,457 (16 ) 715 2018 11,454 11,114 10,966 11,030 11,073 11,108 (36 ) 725 2019 13,933 14,758 14,976 15,078 15,145 (14 ) 833 2020 13,997 15,056 15,195 16,005 (52 ) 937 2021 12,968 14,799 15,392 (287 ) 747 2022 16,568 16,523 (298 ) 746 2023 16,433 593 641 Total $ 127,891 Cumulative paid loss and settlement expenses, net of reinsurance (in thousands) Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 2014 $ 6,243 $ 7,631 $ 7,746 $ 7,796 $ 7,795 $ 7,795 $ 7,801 $ 7,803 $ 7,805 $ 7,805 2015 5,057 7,040 7,474 7,645 7,660 7,657 7,645 7,642 7,643 2016 6,157 7,624 8,236 8,356 8,437 8,465 8,384 8,397 2017 10,055 13,482 13,610 13,595 13,363 13,451 13,469 2018 8,487 11,009 11,025 11,062 11,117 11,144 2019 11,621 14,161 14,855 14,902 14,974 2020 10,620 14,485 15,540 15,786 2021 11,220 14,712 15,603 2022 12,898 16,534 2023 13,934 Total $ 125,291 Unpaid losses and settlement expense - years 2014 through 2023 2,600 Unpaid losses and settlement expense - prior to 2014 11 Unpaid loss and settlement expense, net of reinsurance $ 2,611 *Presented as unaudited required supplementary information. WORKERS' COMPENSATION AND LIABILITY LINES Incurred loss and settlement expenses, net of reinsurance ($'s in thousands) As of December 31, 2023 Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 Total IBNR plus expected development on reported claims Cumulative number of reported claims 2014 $ 13,385 $ 14,744 $ 15,341 $ 16,719 $ 16,881 $ 16,996 $ 16,954 $ 16,930 $ 16,995 $ 17,064 $ 78 1,213 2015 16,597 13,876 13,441 13,862 14,486 14,714 15,182 15,209 15,501 40 1,095 2016 16,678 14,843 16,240 16,855 17,546 18,412 18,608 18,807 61 1,042 2017 15,808 15,803 15,842 15,976 17,068 18,049 17,879 60 1,042 2018 18,308 17,122 17,082 16,925 16,581 16,455 214 1,132 2019 19,630 19,200 19,575 19,364 19,282 433 1,096 2020 17,359 14,107 15,262 15,661 889 640 2021 21,000 21,988 23,877 2,392 865 2022 22,866 21,583 4,830 809 2023 28,948 20,445 578 Total $ 195,058 Cumulative paid loss and settlement expenses, net of reinsurance (in thousands) Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 2014 $ 1,540 $ 4,088 $ 9,515 $ 13,603 $ 15,232 $ 15,912 $ 16,374 $ 16,401 $ 16,750 $ 16,762 2015 1,408 4,319 7,404 10,528 12,487 13,262 13,932 14,478 15,174 2016 1,497 5,488 8,189 12,205 14,206 16,649 17,618 18,461 2017 1,523 5,419 8,753 11,878 14,770 17,141 17,378 2018 1,964 5,656 9,312 12,419 14,687 15,734 2019 3,664 7,453 12,132 14,781 16,268 2020 2,435 4,882 8,026 12,422 2021 3,520 7,825 14,913 2022 3,614 9,236 2023 2,525 Total 138,874 Unpaid losses and settlement expense - years 2014 through 2023 56,184 Unpaid losses and settlement expense - prior to 2014 306 Unpaid loss and settlement expense, net of reinsurance $ 56,490 *Presented as unaudited required supplementary information. TOTAL LINES Incurred loss and settlement expenses, net of reinsurance ($'s in thousands) As of December 31, 2023 Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 Total IBNR plus expected development on reported claims Cumulative number of reported claims 2014 $ 22,250 $ 22,330 $ 23,139 $ 24,601 $ 24,698 $ 24,781 $ 24,737 $ 24,721 $ 24,789 $ 24,858 $ 78 1,953 2015 24,289 21,370 21,157 21,496 22,140 22,350 22,817 22,852 23,144 40 1,649 2016 25,618 22,824 24,612 25,236 25,951 26,740 26,995 27,199 56 1,618 2017 29,801 29,371 29,583 29,802 30,689 31,642 31,336 44 1,757 2018 29,762 28,236 28,048 27,955 27,654 27,563 178 1,857 2019 33,563 33,958 34,551 34,442 34,427 419 1,929 2020 31,356 29,162 30,457 31,666 837 1,577 2021 33,968 36,787 39,269 2,105 1,612 2022 39,434 38,106 4,532 1,555 2023 45,381 21,038 1,219 Total $ 322,949 Cumulative paid loss and settlement expenses, net of reinsurance (in thousands) Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 2014 $ 7,782 $ 11,718 $ 17,261 $ 21,398 $ 23,027 $ 23,707 $ 24,175 $ 24,204 $ 24,554 $ 24,567 2015 6,465 11,359 14,878 18,173 20,147 20,919 21,577 22,121 22,817 2016 7,654 13,112 16,425 20,561 22,643 25,114 26,002 26,859 2017 11,578 18,901 22,363 25,473 28,134 30,592 30,847 2018 10,451 16,665 20,337 23,481 25,805 26,878 2019 15,285 21,614 26,987 29,683 31,243 2020 13,055 19,367 23,566 28,209 2021 14,740 22,537 30,516 2022 16,512 25,770 2023 16,459 Total 264,165 Unpaid losses and settlement expense - years 2014 through 2023 58,784 Unpaid losses and settlement expense - prior to 2014 317 Unpaid loss and settlement expense, net of reinsurance $ 59,101 *Presented as unaudited required supplementary information. The following table reconciles the loss development information to the consolidated balance sheet for the year ended December 31, 2023 (In thousands) December 31, 2023 Net unpaid losses and settlement expense Property Lines $ 2,611 Workers' Compensation and Liability Lines 56,490 Total unpaid losses and settlement expense, net of reinsurance 59,101 Reinsurance recoverable on losses and settlement expense Property Lines 1,755 Workers' Compensation and Liability Lines 11,064 Total reinsurance recoverable on unpaid losses and settlement expense 12,819 Total gross unpaid losses and LAE $ 71,920 Loss Duration Disclosure The following table represents the average annual percentage payout of incurred losses by age, net of reinsurance and is presented as unaudited required supplementary information. Average annual percentage payout of incurred losses by age, net of reinsurance Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9+ Property Lines 75.9 % 21.9 % 1.8 % (0.4) % 0.3 % 0.7 % (0.2) % 0.0 % (0.1) % Liability Lines 12.3 % 22.7 % 21.8 % 19.4 % 10.0 % 6.8 % 2.1 % 1.7 % 3.3 % Total Lines 37.4 % 23.2 % 13.5 % 11.3 % 5.8 % 4.3 % 1.3 % 1.1 % 2.2 % The following table is a reconciliation of the Company’s unpaid losses and settlement expenses for the years 2023 2022 For the Twelve-Months Ended December 31, (In thousands) 2023 2022 Unpaid losses and settlement expense - beginning of the period: Gross $ 67,614 $ 61,835 Less: Ceded 13,610 14,521 Net 54,004 47,314 Increase in incurred losses and settlement expense: Current year 45,381 39,434 Prior years 2,549 5,099 Total incurred 47,930 44,533 Deduct: Loss and settlement expense payments for claims incurred: Current year 16,459 16,512 Prior years 26,374 21,331 Total paid 42,833 37,843 Net unpaid losses and settlement expense - end of the period 59,101 54,004 Plus: Reinsurance recoverable on unpaid losses net of CECL 12,737 13,610 Plus: CECL allowance for reinsurance recoverable on unpaid losses 82 — Gross unpaid losses and settlement expense - end of the period $ 71,920 $ 67,614 Differences from the initial reserve estimates emerged as changes in the ultimate loss estimates were updated through the reserve analysis process. The recognition of the changes in initial reserve estimates occurred over time as claims were reported, initial case reserves were established, initial reserves were reviewed in light of additional information, and ultimate payments were made on the collective set of claims incurred as of that evaluation date. The new information on the ultimate settlement value of claims is updated until all claims in a defined set are settled. As a small specialty insurer with a niche product portfolio, the Company’s experience will ordinarily exhibit fluctuations from period to period. While management attempts to identify and react to systematic changes in the loss environment, it must also consider the volume of experience directly available to the Company and interpret any particular period’s indications with a realistic technical understanding of the reliability of those observations. A discussion of significant components of reserve development for the two 2023 For calendar year 2023 $3.1M, 2021 $1.7M, 2020 $2.2M 2022 2022 For calendar year 2022, $3.5M, 2021 $3.3M, 2020 2021 $1.8M 2021

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. INCOME TAXES The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are summarized as follows: December 31, 2023 2022 Deferred tax assets: Tax discounting of claim reserves $ 1,018,934 $ 931,054 Unearned premium reserve 1,981,064 1,686,905 Net unrealized depreciation of securities 1,283,391 2,105,391 Deferred compensation 315,575 316,051 Provision for uncollectible accounts 27,300 10,500 Other 191,577 89,347 Deferred tax assets before allowance 4,817,841 5,139,248 Less valuation allowance — — Total deferred tax assets $ 4,817,841 $ 5,139,248 Deferred tax liabilities: Transition Adjustment for Loss Reserve Discounting $ 75,392 $ 113,088 Deferred policy acquisition costs 1,796,016 1,505,078 Property and equipment 175,571 143,047 Other 123,226 81,347 Total deferred tax liabilities 2,170,205 1,842,560 Net deferred tax asset $ 2,647,636 $ 3,296,688 In July 2019, 2019 31, January 1, 2018 eight 2018. Management believes it is more likely than not Income tax expense for the years ended December 31, 2023, 2022 For the Year Ended December 31, 2023 2022 Provision for income taxes at the statutory federal tax rates $ 1,159,640 $ (151,584 ) Increase (reduction) in taxes resulting from: GAAP Adjustments for Investments, DAC, and eliminations (512,357 ) 818,894 Permanent tax differences (11,327 ) (20,114 ) Temporary tax differences 393,686 350,153 PY Federal true-up (35,328 ) 245,049 PY State true-up 69,742 (16,275 ) State tax expense 112,026 107,519 Change in DTA 89,117 (1,125,063 ) Prior year payments applied not already accounted for in PY provision — (350,000 ) Other — 1,255 Total $ 1,265,199 $ (140,166 ) The Company’s effective tax rate was 22.9% and 19.4% for 2023 2022 As of December 31, 2023 not 2020 no

Note 9 - Employee Benefits

Note 9 - Employee Benefits	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	9. EMPLOYEE BENEFITS 401 The Company maintains a 401 401 may The 401 401 2023 2022 may Deferred Compensation In November 2012, 62 62, November 2017, November 2022, November 2027, January 1, 2032. January 1, 2032. December 31, 2023, 2022 2023 2022 ESOP  In connection with our conversion and public offering, we established an ESOP. The ESOP borrowed from the Company to purchase 350,000 shares in the offering. The issuance of the shares to the ESOP resulted in a contra account established in the equity section of the balance sheet for the unallocated shares at an amount equal to their $10.00 per share purchase price.  The Company may December 31, 2023 December 31, 2023 December 31, 2022 December 31, 2022 Restricted Stock Units RSUs were granted for the first February 2018 April one third three first December 31, 2023, 2022 RSUs Weighted Average Grant Date Fair Value Nonvested on December 31, 2022 $ 273,591 $ 15.72 Granted 272,802 15.50 Vested (232,285 ) 15.26 Nonvested on December 31, 2023 $ 314,108 $ 15.87

Note 10 - Statutory Information

Note 10 - Statutory Information and Dividend Restrictions	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Insurance Disclosure [Text Block]	10. STATUTORY INFORMATION AND DIVIDEND RESTRICTIONS The statutory financial statements of ICC are presented on the basis of accounting practices prescribed or permitted by the Illinois Department of Insurance, which has adopted the National Association of Insurance Commissioners (NAIC) statutory accounting practices as the basis of its statutory accounting practices. ICC did not The NAIC has Risk-Based Capital (RBC) standards that require insurance companies to calculate and report information under a risk-based formula, which measures statutory capital and surplus needs based upon a regulatory definition of risk relative to the Company’s balance sheet and mix of products. As of December 31, 2023, 2022 December 31, 2023, 2022 The following table includes selected information for our insurance subsidiary: As of and Periods Ended December 31, 2023 2022 Net income, statutory basis $ 3,267,217 $ 3,583,308 Surplus, statutory basis $ 62,874,928 $ 59,735,422 No may 30 not 30 12 10% 31st December 12 31st December not December 31, 2023 2024 December 31, 2023, 2022 The Company did not 2023 2022 2023 2022

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. COMMITMENTS AND CONTINGENT LIABILITIES The Company is party to numerous claims, losses, and litigation matters that arise in the normal course of business. Many of such claims, losses, or litigation matters involve claims under policies that the Company underwrites as an insurer. Management believes that the resolution of these claims and losses will not During the fourth 2021, Other Invested Assets Note 2 Investments The Company has operating obligations related to managing the business. Minimum future payments under cancellable agreements total $0 and $47,000 in 2023 2022

Note 12 - Subsequent Events

Note 12 - Subsequent Events	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	12. SUBSEQUENT EVENTS Subsequent events have been evaluated through the date the financial statements were issued.

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	ICC HOLDINGS, INC. Schedule II — Condensed Financial Information of Registrant Balance Sheet – Parent Company Only As of As of December 31, 2023 December 31, 2022 Assets Investment in subsidiaries $ 66,340,628 $ 58,973,935 Fixed maturity securities 2,742,384 3,108,898 Common Stocks 1,431,097 1,303,224 Other invested assets 173,220 213,230 Cash and cash equivalents 668,052 348,692 Due from subsidiaries 1,041,131 1,111,804 Accrued investment income 11,912 9,375 Income taxes - current 664,148 766,927 Goodwill and other intangibles 52,500 86,042 Fixed assets 1,694 15,161 Other assets 142,489 159,426 Total assets $ 73,269,255 $ 66,096,714 Liabilities and Shareholders' Equity Liabilities: Debt $ 5,366,494 $ 5,463,608 Accrued expenses 662,969 112,722 Income taxes - deferred 22,853 24,372 Other liabilities 213,390 55,081 Total liabilities 6,265,706 5,655,783 Equity: Common stock 1 35,000 35,000 Treasury stock, at cost 2 (5,710,324 ) (5,463,535 ) Additional paid-in capital 33,330,846 33,119,125 Accumulated other comprehensive earnings, net of tax (6,621,336 ) (8,841,517 ) Retained earnings 47,844,368 43,701,233 Less: Unearned Employee Stock Ownership Plan shares at cost 3 (1,875,005 ) (2,109,375 ) Total equity 67,003,549 60,440,931 Total liabilities and equity $ 73,269,255 $ 66,096,714 1 Par value $0.01; 2023 10,000,000 shares and 2022 10,000,000 shares; issued: 2023 3,500,000 shares and 2022 3,500,000 shares; outstanding: 2023 shares and 2022 shares. 2 2023 2022 3 2023 2022 ICC HOLDINGS, INC. Schedule II — Condensed Financial Information of Registrant Statement of Earnings and Comprehensive Earnings – Parent Company Only Year Ended Year Ended December 31, 2023 December 31, 2022 Net investment income (loss) $ (28,683 ) $ 19,504 Net realized investment gains 20,186 52,564 Net unrealized gains (losses) on investments 63,457 (189,059 ) Other income 2,779 197 Total revenue 57,739 (116,794 ) Policy acquisition costs and other operating expenses 1,781,402 1,732,482 Interest expense on debt — 40,281 General corporate expenses (5,000 ) - Total expenses 1,776,402 1,772,763 Loss before equity earnings of subsidiaries and income taxes (1,718,663 ) (1,889,557 ) Total income tax benefit (316,569 ) (299,543 ) Net loss before equity earnings of subsidiaries (1,402,094 ) (1,590,014 ) Equity earnings in subsidiaries 5,658,989 1,008,352 Net earnings (loss) $ 4,256,895 $ (581,662 ) Other comprehensive earnings (loss), net of tax 52,458 (209,209 ) Equity in other comprehensive earnings (loss) of subsidiaries 2,167,723 (11,552,335 ) Comprehensive earnings (loss) $ 6,477,076 $ (12,343,206 ) ICC HOLDINGS, INC. Schedule II — Condensed Financial Information of Registrant Statement of Cash Flows – Parent Company Only Year Ended Year Ended December 31, 2023 December 31, 2022 Cash flows from operating activities: Net earnings (loss) $ 4,256,895 $ (581,662 ) Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities Net realized and unrealized (gains) losses on investments (83,643 ) 136,495 Depreciation (12,829 ) 24,065 Deferred income tax 14,776 23,969 Equity in undistributed income of subsidiaries (5,658,989 ) (1,008,352 ) Amortization of bond premium and discount 2,226 761 Stock-based compensation expense 446,091 388,359 Change in: Intercompany notes receivable — 4,473 Due to (from) subsidiaries 70,673 (1,046,958 ) Accrued investment income (2,537 ) 4,371 Accrued expenses 550,247 (4,173 ) Current federal income tax 102,779 (312,389 ) Other 214,246 (29,924 ) Net cash used in operating activities (100,065 ) (2,400,965 ) Cash flows from investing activities: Contributions from subsidiaries 364,529 4,691,823 Purchases of: Fixed maturity securities (174,482 ) (724,994 ) Common stocks (320,098 ) (202,897 ) Proceeds from sales, maturities and calls of: Fixed maturity securities 596,618 573,820 Common stocks 284,423 173,523 Property and equipment 12,338 24,293 Net cash provided by investing activities 763,328 4,535,568 Cash flows from financing activities: Repayments of borrowed funds (97,114 ) (51,490 ) Purchase of treasury stock (246,789 ) (2,308,136 ) Net cash used in financing activities (343,903 ) (2,359,626 ) Net increase (decrease) in cash and cash equivalents 319,360 (225,023 ) Cash and cash equivalents at beginning of year 348,692 573,715 Cash and cash equivalents at end of period $ 668,052 $ 348,692 Supplemental information: Interest paid — 38,531

Schedule III - Supplemental Ins

Schedule III - Supplemental Insurance and Information	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Disclosure [Text Block]	Schedule III — Supplemental Insurance Information Years ended December 31, 2023, 2022 (In thousands) Deferred policy acquisition costs Future policy benefits, losses, claims, and loss expenses Unearned premiums Other policy and benefits payable Net premiums earned December 31, 2023 Commercial Business $ 8,552 $ 71,920 $ 47,260 $ 1,132 $ 75,717 Total $ 8,552 $ 71,920 $ 47,260 $ 1,132 $ 75,717 December 31, 2022 Commercial Business $ 7,167 $ 67,614 $ 40,527 $ 1,405 $ 69,057 Total $ 7,167 $ 67,614 $ 40,527 $ 1,405 $ 69,057 (In thousands) Net investment income Benefits, claims, losses, and settlement expenses Amortization of DAC Other operating expenses Net premiums written December 31, 2023 Commercial Business $ 5,179 $ 47,930 $ 15,104 $ 14,386 $ 82,642 Total $ 5,179 $ 47,930 $ 15,104 $ 14,386 $ 82,642 December 31, 2022 Commercial Business $ 4,034 $ 44,533 $ 13,468 $ 12,401 $ 73,391 Total $ 4,034 $ 44,533 $ 13,468 $ 12,401 $ 73,391 See accompanying notes to consolidated financial statements and report of independent registered public accounting firm.

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Text Block]	ICC HOLDINGS, INC. AND SUBSIDIARIES Schedule IV — Reinsurance Years ended December 31, 2023, 2022 (In thousands) Ceded to Assumed from Percentage of Premiums Gross other other Net amount earned amount companies companies amount assumed to net 2023 $ 86,260 $ 10,703 $ 160 $ 75,717 0.2 % 2022 $ 78,412 $ 9,512 $ 157 $ 69,057 0.2 % See accompanying notes to consolidated financial statements and report of independent registered public accounting firm.

Schedule V - Valuation and Qual

Schedule V - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	ICC HOLDINGS, INC. AND SUBSIDIARIES Schedule V — Valuation and Qualifying Accounts Years ended December 31, 2023, 2022 (In thousands) 2023 2022 Beginning balance, allowance for uncollectible amounts $ 50 $ 100 Write-offs, net of (recoveries) 347 141 Change in valuation allowance (254 ) (191 ) Ending balance, allowance for uncollectible amounts $ 143 $ 50 See accompanying notes to consolidated financial statements and report of independent registered public accounting firm

Schedule VI - Supplemental Info

Schedule VI - Supplemental Information	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Text Block]	ICC HOLDINGS, INC. AND SUBSIDIARIES Schedule VI — Supplemental Information Years ended December 31, 2023, 2022 Deferred Reserve for policy losses and Discount if Net acquisition settlement any deducted Unearned Net earned investment (In thousands) costs expenses from reserves premium premiums income 2023 $ 8,552 $ 71,920 $ — $ 47,260 $ 75,717 $ 5,179 2022 $ 7,167 $ 67,614 $ — $ 40,527 $ 69,057 $ 4,034 Paid losses Losses and settlement and expenses incurred related to Amortization settlement Net written (In thousands) Current year Prior year of DAC expenses premiums 2023 $ 45,381 $ 2,549 $ 15,104 $ (42,833 ) $ 82,642 2022 $ 39,434 $ 5,099 $ 13,468 $ (37,843 ) $ 73,391 See accompanying notes to consolidated financial statements and report of independent registered public accounting firm.

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	9B. During the quarter ended December 31, 2023 none 16 1934, 105b5 1 10b5 1 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	B. PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION The accompanying consolidated financial statements were prepared in conformity with U.S. generally accepted accounting principles (GAAP), which differ in some respects from those followed in reports to insurance regulatory authorities. The consolidated financial statements include the accounts of our subsidiaries. All significant intercompany balances and transactions have been eliminated. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet, revenues and expenses for the periods then ended, and the accompanying notes to the consolidated financial statements. Such estimates and assumptions could change in the future as more information becomes known which could impact the amounts reported and disclosed herein. The most significant of these amounts is the liability for unpaid losses and settlement expenses. Other estimates include investment valuation and current expected credit loss (CECL) allowances, reinsurance recoverables and the collectability of reinsurance balances, recoverability of deferred tax assets, and deferred policy acquisition costs. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. Although recorded estimates are supported by actuarial computations and other supportive data, the estimates are ultimately based on expectations of future events. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in future periods.
Investment, Policy [Policy Text Block]	C. INVESTMENTS AVAILABLE-FOR-SALE SECURITIES Debt securities are classified as available-for-sale (AFS) and reported at fair value. Unrealized gains and losses on these securities are excluded from net earnings but are recorded as a separate component of comprehensive earnings and shareholders’ equity, net of deferred income taxes. EQUITY SECURITIES Equity securities include common stock, mutual funds, and non-redeemable preferred stock. Equity securities are carried at fair value with subsequent changes in fair value recorded in net earnings. CURRENT EXPECTED CREDIT LOSSES Effective with the adoption of ASU 2016 13, January 1, 2023, not • the extent to which the fair value is less than cost; • adverse conditions related to the security, an industry, geographic area such as changes in the financial condition of the issuer of the security, changes in the technology, or discontinuation of a segment of the business that may • the payment structure of the debt security and the likelihood of the issuer being able to make future payments; • failure of the issuer of the security to make scheduled interest or principal payments; and • any changes to the rating of the security by a rating agency. In addition, we no January 1, 2023, December 31, 2023 no Quantitative and qualitative criteria are considered to varying degrees depending on the sector in which the analysis is being performed. The sectors are as follows: Corporates The Company performs a qualitative evaluation of holdings that fall below a price threshold and above a spread threshold. The analysis begins with an opinion of industry and competitive position. This includes an assessment of factors that enable the profit structure of the business (e.g., reserve profile for exploration and production companies), competitive advantage (e.g., distribution system), management strategy, and an analysis of trends in return on invested capital. Analysts may Municipals The Company performs a qualitative evaluation of holdings that fall below a price threshold and above a spread threshold. This analysis includes an assessment of the factors that may Structured Securities The "stated assumptions" analytic approach relies on actual 6 third no INVESTMENT INCOME Interest on fixed maturities and short-term investments is credited to earnings on an accrual basis. Premiums and discounts are amortized or accreted over the lives of the related fixed maturities. Dividends on equity securities are credited to earnings on the ex-dividend date. Realized gains and losses on disposition of investments are based on specific identification of the investments sold on the settlement date, which does not
Other Invested Assets [Policy Text Block]	D. OTHER INVESTED ASSETS Other invested assets include notes receivable, stock, a limited partnership, a SAFE investment, Funds at Lloyd's, and membership in the FHLBC. Notes receivable are carried at outstanding balance plus accrued interest, which management believes reflects fair value. Stock is at fair value when available. The limited partnership is accounted for under the equity method, which is considered a related party. The SAFE investment and the membership in FHLBC are carried at cost.
Investment, Property Held For Investment, Policy [Policy Text Block]	E. PROPERTY HELD FOR INVESTMENT Property held for investment purposes is initially recorded at the purchase price, which is generally fair value, and is subsequently reported at cost less accumulated depreciation. Buildings are depreciated on a straight-line basis over the estimated useful life of the building, which we estimate to be 39 years. Income from property held for investment is reported as net investment income.
Cash and Cash Equivalents, Policy [Policy Text Block]	F. CASH AND CASH EQUIVALENTS Cash consists of uninvested balances in bank accounts. Cash equivalents consist of investments with original maturities of 90 not
Reinsurance Accounting Policy [Policy Text Block]	G. REINSURANCE Ceded unearned premiums and reinsurance balances recoverable on paid and unpaid losses and settlement expenses are reported separately as assets instead of being netted with the related liabilities, since reinsurance does not Annually, the Company monitors the financial condition of its reinsurers. The Company’s monitoring efforts include, but are not may
Deferred Policy Acquisition Costs, Policy [Policy Text Block]	H. POLICY ACQUISITION COSTS The Company defers commissions, premium taxes, and certain other costs that are incrementally or directly related to the successful acquisition of new or renewal insurance contracts. Acquisition-related costs may
Property, Plant and Equipment, Policy [Policy Text Block]	I. PROPERTY AND EQUIPMENT Property and equipment are presented at cost, less accumulated depreciation, and are depreciated using accelerated methods for financial statement purposes for a period based on their economic life. Computer equipment is depreciated over 3 years and equipment over a range of 5 to 7 years. Buildings are depreciated over 39 years and related improvements over 15 years. Annually, the Company reviews the major asset classes held for impairment. For the years ended December 31, 2023, 2022 As of December 31, December 31, 2023 2022 Automobiles $ 645,458 $ 637,306 Furniture and fixtures 525,843 520,835 Computer equipment and software 5,037,301 4,720,932 Home office 4,106,796 4,025,248 Total cost 10,315,398 9,904,321 Accumulated depreciation (6,990,076 ) (6,590,602 ) Net property and equipment $ 3,325,322 $ 3,313,719
Unpaid Policy Claims and Claims Adjustment Expense, Policy [Policy Text Block]	J. UNPAID LOSSES AND SETTLEMENT EXPENSES The liability for unpaid losses and settlement expenses represents estimates of both reported and unreported claims and related expenses. The estimates are based on various actuarial reserving methodologies and other assumptions related to the ultimate cost to settle such claims. The reserving methodologies used are Loss Development for paid and incurred loss and settlement expense, Expected Loss Ratio for ultimate loss and settlement expense, Bornhuetter-Ferguson (B-F) for paid and incurred loss, and A&OE (also known as the "Wendy Johnson Method") for unpaid adjusting and other expense. The assumptions used are subject to occasional changes due to evolving economic, social, and political conditions. There were no December 31, 2023 All estimates are periodically reviewed and, as experience develops and new information becomes known, the reserves are adjusted, as necessary. Such adjustments are reflected in the results of operations in the period in which they are determined. Due to the inherent uncertainty in estimating reserves for losses and settlement expenses, there can be no not December 31, 2023 Note 7 Unpaid Losses and Settlement Expenses
Insurance Premiums Revenue Recognition, Policy [Policy Text Block]	K. PREMIUMS Premiums are recognized ratably over the term of the contracts, net of ceded reinsurance. Unearned premiums represent the portion of premiums written relative to the unexpired terms of coverage. Unearned premiums are calculated on a daily pro rata basis. A premium deficiency reserve should be recognized if the sum of expected claim costs and claim adjustment expenses, expected dividends to policyholders, unamortized acquisition costs, and maintenance costs exceed related unearned premiums. The Company concluded that no December 31, 2023, 2022
Selling, General and Administrative Expenses, Policy [Policy Text Block]	L. GENERAL CORPORATE EXPENSES General corporate expenses consist primarily of real estate and occupancy costs, such as utilities and maintenance, and CECL expenses. These costs do not
Income Tax, Policy [Policy Text Block]	M. INCOME TAXES The Company files a consolidated federal income tax return. Federal income taxes are accounted for using the asset and liability method under which deferred income taxes are recognized for the tax consequences of "temporary differences" by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities, operating losses, and tax credit carry forwards. The effect on deferred taxes for a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance if it is more likely than not not The Company considers uncertainties in income taxes and recognizes those in its consolidated financial statements as required. As it relates to uncertainties in income taxes, unrecognized tax benefits, including interest and penalty accruals, are not no 12 ICC is subject to minimal state income tax liabilities. On a state basis, since the majority of income is from insurance operations, the Company pays premium taxes in lieu of state income tax. Premium taxes are a component of policy acquisition costs and calculated as a percentage of gross premiums written.
Employee Stock Ownership Plan (ESOP), Policy [Policy Text Block]	N. EMPLOYEE STOCK OWNERSHIP PLAN  The Company recognizes employee stock ownership plan (ESOP) compensation expense ratably during each year for the shares committed to be allocated to participants that year. This expense is determined by the fair market value of our stock at the time the commitment to allocate the shares is accrued and recognized. For purposes of balance sheet disclosures of shares outstanding, the Company includes only the number of ESOP shares that have been committed to be released for the period. For purposes of calculating earnings per share, the Company includes the weighted average ESOP shares committed to be released for the period. The ESOP covers all employees who have worked a minimum of 500 
Earnings Per Share, Policy [Policy Text Block]	O. EARNINGS PER SHARE  Basic earnings per share (EPS) is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the dilution that could occur if securities or other contracts to issue common stock or common stock equivalents were exercised or converted into common stock. When inclusion of these items increases the earnings per share or reduces the loss per share, the effect on earnings is anti-dilutive. Under these circumstances, the diluted net earnings or net loss per share is computed excluding these items.
Comprehensive Income, Policy [Policy Text Block]	P. COMPREHENSIVE EARNINGS Comprehensive earnings include net earnings plus unrealized gains (losses) on AFS investment securities, net of tax. In reporting the components of comprehensive earnings on a net basis in the consolidated statement of earnings, the Company used a 21% tax rate for the years ended December 31, 2023 2022 2023 2022 The following table presents changes in accumulated other comprehensive earnings for unrealized gains and losses on available-for-sale fixed maturity securities: Year Ended December 31, 2023 2022 Beginning balance $ (8,841,517 ) $ 2,920,027 Other comprehensive earnings (loss) before reclassification 2,173,761 (11,770,084 ) Amount reclassified from accumulated other comprehensive earnings 46,420 8,540 Net current period other comprehensive earnings (loss) 2,220,181 (11,761,544 ) Ending balance $ (6,621,336 ) $ (8,841,517 ) Amounts Reclassified from Accumulated Other Comprehensive Loss Twelve-Month Periods Ended Details about Accumulated Other December 31, Affected Line Item in the Statement Comprehensive Earnings Component 2023 2022 where Net Earnings is Presented Unrealized losses on AFS investments: $ 58,760 $ 10,810 Net realized investment losses (12,340 ) (2,270 ) Income tax (benefit) Total exclusion, net of tax $ 46,420 $ 8,540
New Accounting Pronouncements, Policy [Policy Text Block]	Q. ADOPTED ACCOUNTING PRONOUNCEMENTS Financial Instruments Credit Losses (ASU 2018 19 2016 13 January 1, 2023, 2016 13, 326 2016 13 2016 13 R. PROSPECITIVE ACCOUNTING STANDARDS The dates presented below represent the implementation dates for the Company. Improvements to Income Tax Disclosures (ASU 2023 09 January 1, 2025, 2023 09, 740 2023 09 December 15, 2024.
Risk And Uncertainties [Policy Text Block]	S. RISKS AND UNCERTAINTIES Certain risks and uncertainties are inherent to day-to-day operations and to the process of preparing the Company’s consolidated financial statements. The more significant risks and uncertainties, as well as the Company’s attempt to mitigate, quantify, and minimize such risks, are presented below and throughout the notes to the consolidated financial statements. Catastrophe Exposures The Company’s insurance coverages include exposure to catastrophic events. All catastrophe exposures are monitored by quantifying exposed policy limits in each region and by using computer-assisted modeling techniques. Additionally, the Company limits its risk to such catastrophes through restraining the total policy limits written in each region and by purchasing reinsurance. The Company’s major catastrophe exposure is to losses caused by tornado/hail and freeze to commercial properties throughout the Midwest. The Company had protection of $14.0 million in excess of $1.0 million for both the years ended December 31, 2023, 2022 January 1, 2024. Reinsurance Reinsurance does not $0 December 31, 2023, 2022 Note 6 Reinsurance Investment Risk The investment portfolio is subject to market, credit, and interest rate risks. The equity portfolio will fluctuate with movements in the overall stock market. While the equity portfolio has been constructed to have lower downside risk than the market, the portfolio is sensitive to movements in the market. The bond portfolio is affected by interest rate changes and movement in credit spreads. The Company attempts to mitigate its interest rate and credit risks by constructing a well-diversified portfolio with high-quality securities with varied maturities. Downturns in the financial markets could have a negative effect on the portfolio. However, the Company attempts to manage this risk through asset allocation, duration, and security selection. Liquidity Risk Liquidity is essential to the Company’s business and a key component of the concept of asset-liability matching. The Company’s liquidity may may may third The Company’s A.M. Best rating is important to its liquidity. A reduction in credit ratings could adversely affect the Company’s liquidity and competitive position by increasing borrowing costs or limiting access to the capital markets. External Factors The Company is highly regulated by the state of Illinois and by the states in which it underwrites business. Such regulations, among other things, limit the amount of dividends, impose restrictions on the amount and types of investments, and regulate rates insurers may
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	T. INTANGIBLES Intangible assets are reported within Other Assets on the Consolidated Balance Sheets. Finite-lived intangible assets are amortized over their estimated useful lives. Intangible assets are presented in the following table. 2023 2022 Inception date Economic Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets: Guild customer/broker relationships and name recognition 10/2/2023 15 years $ 1,005,783 $ 16,763 $ — $ — Katkin customer/supplier relationships, certifications, and system 10/1/2021 3 years 47,500 35,625 47,500 19,792 Total intangible assets $ 1,053,283 $ 52,388 $ 47,500 $ 19,792 The National Association of Insurance Commissioners (NAIC) has developed Property/Casualty Risk-Based Capital (RBC) standards that relate an insurer’s reported statutory surplus to the risks inherent in its overall operations. The RBC formula uses the statutory annual statement to calculate the minimum indicated capital level to support asset (investment and credit) risk and underwriting (loss reserves, premiums written, and unearned premium) risk. The NAIC model law calls for various levels of regulatory action based on the magnitude of an indicated RBC capital deficiency, if any. As of December 31, 2023 Note 10 Statutory Information and Dividend Restrictions In addition, ratings are a critical factor in establishing the competitive position of insurance companies. The Company is rated by A.M. Best. This rating reflects their opinion of the insurance company’s financial strength, operating performance, strategic position, and ability to meet its obligations to policyholders.

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of December 31, December 31, 2023 2022 Automobiles $ 645,458 $ 637,306 Furniture and fixtures 525,843 520,835 Computer equipment and software 5,037,301 4,720,932 Home office 4,106,796 4,025,248 Total cost 10,315,398 9,904,321 Accumulated depreciation (6,990,076 ) (6,590,602 ) Net property and equipment $ 3,325,322 $ 3,313,719
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Year Ended December 31, 2023 2022 Beginning balance $ (8,841,517 ) $ 2,920,027 Other comprehensive earnings (loss) before reclassification 2,173,761 (11,770,084 ) Amount reclassified from accumulated other comprehensive earnings 46,420 8,540 Net current period other comprehensive earnings (loss) 2,220,181 (11,761,544 ) Ending balance $ (6,621,336 ) $ (8,841,517 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amounts Reclassified from Accumulated Other Comprehensive Loss Twelve-Month Periods Ended Details about Accumulated Other December 31, Affected Line Item in the Statement Comprehensive Earnings Component 2023 2022 where Net Earnings is Presented Unrealized losses on AFS investments: $ 58,760 $ 10,810 Net realized investment losses (12,340 ) (2,270 ) Income tax (benefit) Total exclusion, net of tax $ 46,420 $ 8,540
Schedule of Finite-Lived Intangible Assets [Table Text Block]	2023 2022 Inception date Economic Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets: Guild customer/broker relationships and name recognition 10/2/2023 15 years $ 1,005,783 $ 16,763 $ — $ — Katkin customer/supplier relationships, certifications, and system 10/1/2021 3 years 47,500 35,625 47,500 19,792 Total intangible assets $ 1,053,283 $ 52,388 $ 47,500 $ 19,792

Note 2 - Investments (Tables)

Note 2 - Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Investment Income [Table Text Block]	2023 2022 AFS, fixed maturity securities $ 4,099,739 $ 3,122,028 Investment property 953,532 904,533 Equity securities 838,959 778,707 Other Invested Assets 136,709 154,332 Cash and short-term investments 100,404 24,628 Investment revenue 6,129,343 4,984,228 Less investment expenses (950,000 ) (950,000 ) Net investment income $ 5,179,343 $ 4,034,228
Schedule of Realized Gain (Loss) [Table Text Block]	Net Realized Proceeds Gains Losses Gains (Losses) 2023 Fixed maturity securities $ 11,578,761 $ — $ (58,760 ) $ (58,760 ) Common stocks 14,169,474 2,336,113 (1,627,268 ) 708,845 Preferred stocks 337,440 29,371 (6,599 ) 22,772 2022 Fixed maturity securities $ 17,820,507 $ 107,368 $ (118,178 ) $ (10,810 ) Common stocks 4,402,327 1,213,519 (316,079 ) 897,440 Preferred stocks 646,552 8,748 (20,908 ) (12,160 )
Investments Classified by Contractual Maturity Date [Table Text Block]	Amortized Cost Fair Value Due in one year or less $ 4,747,381 $ 4,693,100 Due after one year through five years 14,750,461 14,212,036 Due after five years through 10 years 23,879,765 22,518,014 Due after 10 years 26,372,013 22,341,659 Asset and mortgage-backed securities without a specific due date 49,400,028 47,020,328 Redeemable preferred stocks 186,393 170,560 Total fixed maturity securities $ 119,336,041 $ 110,955,697
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	Gross Unrealized Amortized Cost Fair Value Gains Losses 2023 Fixed maturity securities: U.S. Treasury $ 1,351,768 $ 1,289,774 $ — $ (61,994 ) MBS/ABS/CMBS 49,400,028 47,020,328 283,957 (2,663,657 ) Corporate 45,764,492 42,981,718 287,412 (3,070,186 ) Municipal 22,633,360 19,493,317 153,103 (3,293,146 ) Redeemable preferred stock 186,393 170,560 — (15,833 ) Total fixed maturity securities $ 119,336,041 $ 110,955,697 $ 724,472 $ (9,104,816 ) Gross Unrealized Amortized Cost Fair Value Gains Losses 2022 Fixed maturity securities: U.S. Treasury $ 1,352,752 $ 1,252,960 $ — $ (99,792 ) MBS/ABS/CMBS 41,858,596 38,803,341 51,477 (3,106,732 ) Corporate 39,716,139 35,602,055 38,867 (4,152,951 ) Municipal 21,437,389 17,541,694 78,117 (3,973,812 ) Redeemable preferred stock 215,805 188,921 — (26,884 ) Total fixed maturity securities $ 104,580,681 $ 93,388,971 $ 168,461 $ (11,360,171 )
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]	December 31, 2023 December 31, 2022 12 Months 12 Months < 12 Months & Greater Total < 12 Months & Greater Total Fixed Maturity Securities: U.S. Treasury Fair value $ — $ 1,289,774 $ 1,289,774 $ 615,367 $ 637,594 $ 1,252,961 Amortized cost — 1,351,768 1,351,768 652,424 700,329 1,352,753 Unrealized loss — (61,994 ) (61,994 ) (37,057 ) (62,735 ) (99,792 ) MBS/ABS/CMBS Fair value 8,345,340 24,323,865 32,669,205 21,199,819 12,833,310 34,033,129 Amortized cost 8,462,010 26,870,852 35,332,862 22,564,779 14,575,082 37,139,861 Unrealized loss (116,670 ) (2,546,987 ) (2,663,657 ) (1,364,960 ) (1,741,772 ) (3,106,732 ) Corporate Fair value 477,051 33,352,754 33,829,805 27,688,403 5,829,396 33,517,799 Amortized cost 478,370 36,421,621 36,899,991 30,584,890 7,085,860 37,670,750 Unrealized loss (1,319 ) (3,068,867 ) (3,070,186 ) (2,896,487 ) (1,256,464 ) (4,152,951 ) Municipal Fair value — 12,149,238 12,149,238 11,502,050 2,079,831 13,581,881 Amortized cost — 15,442,384 15,442,384 14,590,996 2,964,697 17,555,693 Unrealized loss — (3,293,146 ) (3,293,146 ) (3,088,946 ) (884,866 ) (3,973,812 ) Redeemable preferred stock Fair value 149,240 21,320 170,560 188,921 — 188,921 Amortized cost 161,549 24,844 186,393 215,805 — 215,805 Unrealized loss (12,309 ) (3,524 ) (15,833 ) (26,884 ) — (26,884 ) Total Fair value 8,971,631 71,136,951 80,108,582 61,194,560 21,380,131 82,574,691 Amortized cost 9,101,929 80,111,469 89,213,398 68,608,894 25,325,968 93,934,862 Unrealized loss $ (130,298 ) $ (8,974,518 ) $ (9,104,816 ) $ (7,414,334 ) $ (3,945,837 ) $ (11,360,171 )

Note 3 - Fair Value Disclosur_2

Note 3 - Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,289,774 $ — $ — $ 1,289,774 MBS/ABS/CMBS — 47,020,328 — 47,020,328 Corporate — 42,981,718 — 42,981,718 Municipal — 19,493,317 — 19,493,317 Redeemable preferred stocks — 170,560 — 170,560 Total fixed maturity securities 1,289,774 109,665,923 — 110,955,697 Equity securities Common stocks 12,191,621 — — 12,191,621 Perpetual preferred stocks — 2,896,296 — 2,896,296 Total equity securities 12,191,621 2,896,296 — 15,087,917 Total marketable investments measured at fair value $ 13,481,395 $ 112,562,219 $ — $ 126,043,614 Significant Quoted in Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Total AFS securities Fixed maturity securities U.S. treasury $ 1,252,960 $ — $ — $ 1,252,960 MBS/ABS/CMBS — 38,803,341 — 38,803,341 Corporate — 35,602,055 — 35,602,055 Municipal — 17,541,694 — 17,541,694 Redeemable preferred stocks — 188,921 — 188,921 Total fixed maturity securities 1,252,960 92,136,011 — 93,388,971 Equity securities Common stocks 20,438,907 — — 20,438,907 Perpetual preferred stocks — 2,772,605 — 2,772,605 Total equity securities 20,438,907 2,772,605 — 23,211,512 Total marketable investments measured at fair value $ 21,691,867 $ 94,908,616 $ — $ 116,600,483

Note 4 - Policy Acquisitions _2

Note 4 - Policy Acquisitions Costs (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Deferred Policy Acquisition Costs [Table Text Block]	2023 2022 Deferred policy acquisition costs (DAC), beginning of year $ 7,167,036 $ 6,538,844 Deferred: Direct commission 13,849,194 12,330,776 Premium taxes 1,702,222 1,271,971 Ceding commissions (485,089 ) (693,178 ) Underwriting 1,423,178 1,186,150 Net deferred 16,489,505 14,095,719 Amortized 15,104,082 13,467,527 DAC, end of year $ 8,552,459 $ 7,167,036 Policy acquisition costs: Amortized to expense $ 15,104,082 $ 13,467,527 Period costs: Contingent commission 2,290,826 1,796,256 Other underwriting expenses 11,127,065 9,632,337 Total policy acquisition costs $ 28,521,973 $ 24,896,120

Note 6 - Reinsurance (Tables)

Note 6 - Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Effects of Reinsurance [Table Text Block]	2023 2022 WRITTEN Direct $ 92,990,535 $ 82,726,634 Reinsurance assumed 162,368 157,268 Reinsurance ceded (10,510,588 ) (9,492,472 ) Net $ 82,642,315 $ 73,391,430 EARNED Direct $ 86,260,082 $ 78,411,890 Reinsurance assumed 160,365 157,097 Reinsurance ceded (10,703,339 ) (9,511,644 ) Net $ 75,717,108 $ 69,057,343 LOSS AND SETTLEMENT EXPENSES INCURRED Direct $ 52,727,899 $ 50,290,695 Reinsurance assumed 102,365 94,482 Reinsurance ceded (4,900,634 ) (5,852,448 ) Net $ 47,929,630 $ 44,532,729
Ceded Credit Risk [Table Text Block]	Net Reinsurer Percent Ceded Percent A.M. Best Exposure as of of Premiums of (In thousands) Rating December 31, 2023 Total Written Total General Reinsurance Corporation A++ $ 11,509 74.8 % $ 7,295 69.4 % Renaissance Reinsurance U.S. Incorporated A+ 750 4.9 % 711 6.8 % Hannover Rueck SE A+ 467 3.0 % 427 4.1 % Partner Reinsurance Co. of the U.S. A+ 447 2.9 % — 0.0 % Aspen Insurance UK Ltd. A 336 2.2 % — 0.0 % Swiss Reinsurance A+ 288 1.9 % 78 0.7 % Houston Casualty Company A++ 250 1.6 % 310 2.9 % Axis Reinsurance Company A 210 1.4 % — 0.0 % Everest Reinsurance Company A+ 179 1.2 % — 0.1 % Lloyd's Syndicate Number 2791 A 135 0.9 % 455 4.3 % All other reinsurers including anticipated subrogation 812 5.3 % 1,235 11.7 % $ 15,383 100.0 % $ 10,511 100.0 %

Note 7 - Unpaid Losses and Se_2

Note 7 - Unpaid Losses and Settlement Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Short-Duration Insurance Contracts, Claims Development [Table Text Block]	PROPERTY LINES Incurred loss and settlement expenses, net of reinsurance ($'s in thousands) As of December 31, 2023 Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 Total IBNR plus expected development on reported claims Cumulative number of reported claims 2014 $ 8,865 $ 7,586 $ 7,798 $ 7,883 $ 7,817 $ 7,785 $ 7,784 $ 7,792 $ 7,794 $ 7,794 $ — 740 2015 7,693 7,494 7,717 7,634 7,654 7,636 7,635 7,642 7,643 — 554 2016 8,941 7,981 8,372 8,381 8,404 8,327 8,387 8,392 (5 ) 576 2017 13,993 13,568 13,741 13,825 13,622 13,593 13,457 (16 ) 715 2018 11,454 11,114 10,966 11,030 11,073 11,108 (36 ) 725 2019 13,933 14,758 14,976 15,078 15,145 (14 ) 833 2020 13,997 15,056 15,195 16,005 (52 ) 937 2021 12,968 14,799 15,392 (287 ) 747 2022 16,568 16,523 (298 ) 746 2023 16,433 593 641 Total $ 127,891 Cumulative paid loss and settlement expenses, net of reinsurance (in thousands) Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 2014 $ 6,243 $ 7,631 $ 7,746 $ 7,796 $ 7,795 $ 7,795 $ 7,801 $ 7,803 $ 7,805 $ 7,805 2015 5,057 7,040 7,474 7,645 7,660 7,657 7,645 7,642 7,643 2016 6,157 7,624 8,236 8,356 8,437 8,465 8,384 8,397 2017 10,055 13,482 13,610 13,595 13,363 13,451 13,469 2018 8,487 11,009 11,025 11,062 11,117 11,144 2019 11,621 14,161 14,855 14,902 14,974 2020 10,620 14,485 15,540 15,786 2021 11,220 14,712 15,603 2022 12,898 16,534 2023 13,934 Total $ 125,291 Unpaid losses and settlement expense - years 2014 through 2023 2,600 Unpaid losses and settlement expense - prior to 2014 11 Unpaid loss and settlement expense, net of reinsurance $ 2,611 WORKERS' COMPENSATION AND LIABILITY LINES Incurred loss and settlement expenses, net of reinsurance ($'s in thousands) As of December 31, 2023 Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 Total IBNR plus expected development on reported claims Cumulative number of reported claims 2014 $ 13,385 $ 14,744 $ 15,341 $ 16,719 $ 16,881 $ 16,996 $ 16,954 $ 16,930 $ 16,995 $ 17,064 $ 78 1,213 2015 16,597 13,876 13,441 13,862 14,486 14,714 15,182 15,209 15,501 40 1,095 2016 16,678 14,843 16,240 16,855 17,546 18,412 18,608 18,807 61 1,042 2017 15,808 15,803 15,842 15,976 17,068 18,049 17,879 60 1,042 2018 18,308 17,122 17,082 16,925 16,581 16,455 214 1,132 2019 19,630 19,200 19,575 19,364 19,282 433 1,096 2020 17,359 14,107 15,262 15,661 889 640 2021 21,000 21,988 23,877 2,392 865 2022 22,866 21,583 4,830 809 2023 28,948 20,445 578 Total $ 195,058 Cumulative paid loss and settlement expenses, net of reinsurance (in thousands) Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 2014 $ 1,540 $ 4,088 $ 9,515 $ 13,603 $ 15,232 $ 15,912 $ 16,374 $ 16,401 $ 16,750 $ 16,762 2015 1,408 4,319 7,404 10,528 12,487 13,262 13,932 14,478 15,174 2016 1,497 5,488 8,189 12,205 14,206 16,649 17,618 18,461 2017 1,523 5,419 8,753 11,878 14,770 17,141 17,378 2018 1,964 5,656 9,312 12,419 14,687 15,734 2019 3,664 7,453 12,132 14,781 16,268 2020 2,435 4,882 8,026 12,422 2021 3,520 7,825 14,913 2022 3,614 9,236 2023 2,525 Total 138,874 Unpaid losses and settlement expense - years 2014 through 2023 56,184 Unpaid losses and settlement expense - prior to 2014 306 Unpaid loss and settlement expense, net of reinsurance $ 56,490 TOTAL LINES Incurred loss and settlement expenses, net of reinsurance ($'s in thousands) As of December 31, 2023 Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 Total IBNR plus expected development on reported claims Cumulative number of reported claims 2014 $ 22,250 $ 22,330 $ 23,139 $ 24,601 $ 24,698 $ 24,781 $ 24,737 $ 24,721 $ 24,789 $ 24,858 $ 78 1,953 2015 24,289 21,370 21,157 21,496 22,140 22,350 22,817 22,852 23,144 40 1,649 2016 25,618 22,824 24,612 25,236 25,951 26,740 26,995 27,199 56 1,618 2017 29,801 29,371 29,583 29,802 30,689 31,642 31,336 44 1,757 2018 29,762 28,236 28,048 27,955 27,654 27,563 178 1,857 2019 33,563 33,958 34,551 34,442 34,427 419 1,929 2020 31,356 29,162 30,457 31,666 837 1,577 2021 33,968 36,787 39,269 2,105 1,612 2022 39,434 38,106 4,532 1,555 2023 45,381 21,038 1,219 Total $ 322,949 Cumulative paid loss and settlement expenses, net of reinsurance (in thousands) Year Ended December 31, Accident Year 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021* 2022* 2023 2014 $ 7,782 $ 11,718 $ 17,261 $ 21,398 $ 23,027 $ 23,707 $ 24,175 $ 24,204 $ 24,554 $ 24,567 2015 6,465 11,359 14,878 18,173 20,147 20,919 21,577 22,121 22,817 2016 7,654 13,112 16,425 20,561 22,643 25,114 26,002 26,859 2017 11,578 18,901 22,363 25,473 28,134 30,592 30,847 2018 10,451 16,665 20,337 23,481 25,805 26,878 2019 15,285 21,614 26,987 29,683 31,243 2020 13,055 19,367 23,566 28,209 2021 14,740 22,537 30,516 2022 16,512 25,770 2023 16,459 Total 264,165 Unpaid losses and settlement expense - years 2014 through 2023 58,784 Unpaid losses and settlement expense - prior to 2014 317 Unpaid loss and settlement expense, net of reinsurance $ 59,101
Short-Duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block]	(In thousands) December 31, 2023 Net unpaid losses and settlement expense Property Lines $ 2,611 Workers' Compensation and Liability Lines 56,490 Total unpaid losses and settlement expense, net of reinsurance 59,101 Reinsurance recoverable on losses and settlement expense Property Lines 1,755 Workers' Compensation and Liability Lines 11,064 Total reinsurance recoverable on unpaid losses and settlement expense 12,819 Total gross unpaid losses and LAE $ 71,920
Short-Duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]	Average annual percentage payout of incurred losses by age, net of reinsurance Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9+ Property Lines 75.9 % 21.9 % 1.8 % (0.4) % 0.3 % 0.7 % (0.2) % 0.0 % (0.1) % Liability Lines 12.3 % 22.7 % 21.8 % 19.4 % 10.0 % 6.8 % 2.1 % 1.7 % 3.3 % Total Lines 37.4 % 23.2 % 13.5 % 11.3 % 5.8 % 4.3 % 1.3 % 1.1 % 2.2 %
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	For the Twelve-Months Ended December 31, (In thousands) 2023 2022 Unpaid losses and settlement expense - beginning of the period: Gross $ 67,614 $ 61,835 Less: Ceded 13,610 14,521 Net 54,004 47,314 Increase in incurred losses and settlement expense: Current year 45,381 39,434 Prior years 2,549 5,099 Total incurred 47,930 44,533 Deduct: Loss and settlement expense payments for claims incurred: Current year 16,459 16,512 Prior years 26,374 21,331 Total paid 42,833 37,843 Net unpaid losses and settlement expense - end of the period 59,101 54,004 Plus: Reinsurance recoverable on unpaid losses net of CECL 12,737 13,610 Plus: CECL allowance for reinsurance recoverable on unpaid losses 82 — Gross unpaid losses and settlement expense - end of the period $ 71,920 $ 67,614

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2023 2022 Deferred tax assets: Tax discounting of claim reserves $ 1,018,934 $ 931,054 Unearned premium reserve 1,981,064 1,686,905 Net unrealized depreciation of securities 1,283,391 2,105,391 Deferred compensation 315,575 316,051 Provision for uncollectible accounts 27,300 10,500 Other 191,577 89,347 Deferred tax assets before allowance 4,817,841 5,139,248 Less valuation allowance — — Total deferred tax assets $ 4,817,841 $ 5,139,248 Deferred tax liabilities: Transition Adjustment for Loss Reserve Discounting $ 75,392 $ 113,088 Deferred policy acquisition costs 1,796,016 1,505,078 Property and equipment 175,571 143,047 Other 123,226 81,347 Total deferred tax liabilities 2,170,205 1,842,560 Net deferred tax asset $ 2,647,636 $ 3,296,688
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	For the Year Ended December 31, 2023 2022 Provision for income taxes at the statutory federal tax rates $ 1,159,640 $ (151,584 ) Increase (reduction) in taxes resulting from: GAAP Adjustments for Investments, DAC, and eliminations (512,357 ) 818,894 Permanent tax differences (11,327 ) (20,114 ) Temporary tax differences 393,686 350,153 PY Federal true-up (35,328 ) 245,049 PY State true-up 69,742 (16,275 ) State tax expense 112,026 107,519 Change in DTA 89,117 (1,125,063 ) Prior year payments applied not already accounted for in PY provision — (350,000 ) Other — 1,255 Total $ 1,265,199 $ (140,166 )

Note 9 - Employee Benefits (Tab

Note 9 - Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Restricted Stock Units (RSUs) [Member]
Notes Tables
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	RSUs Weighted Average Grant Date Fair Value Nonvested on December 31, 2022 $ 273,591 $ 15.72 Granted 272,802 15.50 Vested (232,285 ) 15.26 Nonvested on December 31, 2023 $ 314,108 $ 15.87

Note 10 - Statutory Informati_2

Note 10 - Statutory Information and Dividend Restrictions (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Subsidiary of Limited Liability Company or Limited Partnership, Description [Table Text Block]	As of and Periods Ended December 31, 2023 2022 Net income, statutory basis $ 3,267,217 $ 3,583,308 Surplus, statutory basis $ 62,874,928 $ 59,735,422

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Condensed Balance Sheet [Table Text Block]	As of As of December 31, 2023 December 31, 2022 Assets Investment in subsidiaries $ 66,340,628 $ 58,973,935 Fixed maturity securities 2,742,384 3,108,898 Common Stocks 1,431,097 1,303,224 Other invested assets 173,220 213,230 Cash and cash equivalents 668,052 348,692 Due from subsidiaries 1,041,131 1,111,804 Accrued investment income 11,912 9,375 Income taxes - current 664,148 766,927 Goodwill and other intangibles 52,500 86,042 Fixed assets 1,694 15,161 Other assets 142,489 159,426 Total assets $ 73,269,255 $ 66,096,714 Liabilities and Shareholders' Equity Liabilities: Debt $ 5,366,494 $ 5,463,608 Accrued expenses 662,969 112,722 Income taxes - deferred 22,853 24,372 Other liabilities 213,390 55,081 Total liabilities 6,265,706 5,655,783 Equity: Common stock 1 35,000 35,000 Treasury stock, at cost 2 (5,710,324 ) (5,463,535 ) Additional paid-in capital 33,330,846 33,119,125 Accumulated other comprehensive earnings, net of tax (6,621,336 ) (8,841,517 ) Retained earnings 47,844,368 43,701,233 Less: Unearned Employee Stock Ownership Plan shares at cost 3 (1,875,005 ) (2,109,375 ) Total equity 67,003,549 60,440,931 Total liabilities and equity $ 73,269,255 $ 66,096,714
Condensed Income Statement [Table Text Block]	Year Ended Year Ended December 31, 2023 December 31, 2022 Net investment income (loss) $ (28,683 ) $ 19,504 Net realized investment gains 20,186 52,564 Net unrealized gains (losses) on investments 63,457 (189,059 ) Other income 2,779 197 Total revenue 57,739 (116,794 ) Policy acquisition costs and other operating expenses 1,781,402 1,732,482 Interest expense on debt — 40,281 General corporate expenses (5,000 ) - Total expenses 1,776,402 1,772,763 Loss before equity earnings of subsidiaries and income taxes (1,718,663 ) (1,889,557 ) Total income tax benefit (316,569 ) (299,543 ) Net loss before equity earnings of subsidiaries (1,402,094 ) (1,590,014 ) Equity earnings in subsidiaries 5,658,989 1,008,352 Net earnings (loss) $ 4,256,895 $ (581,662 ) Other comprehensive earnings (loss), net of tax 52,458 (209,209 ) Equity in other comprehensive earnings (loss) of subsidiaries 2,167,723 (11,552,335 ) Comprehensive earnings (loss) $ 6,477,076 $ (12,343,206 )
Condensed Cash Flow Statement [Table Text Block]	Year Ended Year Ended December 31, 2023 December 31, 2022 Cash flows from operating activities: Net earnings (loss) $ 4,256,895 $ (581,662 ) Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities Net realized and unrealized (gains) losses on investments (83,643 ) 136,495 Depreciation (12,829 ) 24,065 Deferred income tax 14,776 23,969 Equity in undistributed income of subsidiaries (5,658,989 ) (1,008,352 ) Amortization of bond premium and discount 2,226 761 Stock-based compensation expense 446,091 388,359 Change in: Intercompany notes receivable — 4,473 Due to (from) subsidiaries 70,673 (1,046,958 ) Accrued investment income (2,537 ) 4,371 Accrued expenses 550,247 (4,173 ) Current federal income tax 102,779 (312,389 ) Other 214,246 (29,924 ) Net cash used in operating activities (100,065 ) (2,400,965 ) Cash flows from investing activities: Contributions from subsidiaries 364,529 4,691,823 Purchases of: Fixed maturity securities (174,482 ) (724,994 ) Common stocks (320,098 ) (202,897 ) Proceeds from sales, maturities and calls of: Fixed maturity securities 596,618 573,820 Common stocks 284,423 173,523 Property and equipment 12,338 24,293 Net cash provided by investing activities 763,328 4,535,568 Cash flows from financing activities: Repayments of borrowed funds (97,114 ) (51,490 ) Purchase of treasury stock (246,789 ) (2,308,136 ) Net cash used in financing activities (343,903 ) (2,359,626 ) Net increase (decrease) in cash and cash equivalents 319,360 (225,023 ) Cash and cash equivalents at beginning of year 348,692 573,715 Cash and cash equivalents at end of period $ 668,052 $ 348,692 Supplemental information: Interest paid — 38,531

Schedule III - Supplemental I_2

Schedule III - Supplemental Insurance and Information (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Supplementary Insurance Information [Table Text Block]	(In thousands) Deferred policy acquisition costs Future policy benefits, losses, claims, and loss expenses Unearned premiums Other policy and benefits payable Net premiums earned December 31, 2023 Commercial Business $ 8,552 $ 71,920 $ 47,260 $ 1,132 $ 75,717 Total $ 8,552 $ 71,920 $ 47,260 $ 1,132 $ 75,717 December 31, 2022 Commercial Business $ 7,167 $ 67,614 $ 40,527 $ 1,405 $ 69,057 Total $ 7,167 $ 67,614 $ 40,527 $ 1,405 $ 69,057 (In thousands) Net investment income Benefits, claims, losses, and settlement expenses Amortization of DAC Other operating expenses Net premiums written December 31, 2023 Commercial Business $ 5,179 $ 47,930 $ 15,104 $ 14,386 $ 82,642 Total $ 5,179 $ 47,930 $ 15,104 $ 14,386 $ 82,642 December 31, 2022 Commercial Business $ 4,034 $ 44,533 $ 13,468 $ 12,401 $ 73,391 Total $ 4,034 $ 44,533 $ 13,468 $ 12,401 $ 73,391

Schedule IV - Reinsurance (Tabl

Schedule IV - Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Reinsurance Premiums For Insurance Companies By Product Segment [Table Text Block]	(In thousands) Ceded to Assumed from Percentage of Premiums Gross other other Net amount earned amount companies companies amount assumed to net 2023 $ 86,260 $ 10,703 $ 160 $ 75,717 0.2 % 2022 $ 78,412 $ 9,512 $ 157 $ 69,057 0.2 %

Schedule V - Valuation and Qu_2

Schedule V - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Valuation and Qualifying Accounts [Table Text Block]	(In thousands) 2023 2022 Beginning balance, allowance for uncollectible amounts $ 50 $ 100 Write-offs, net of (recoveries) 347 141 Change in valuation allowance (254 ) (191 ) Ending balance, allowance for uncollectible amounts $ 143 $ 50

Schedule VI - Supplemental In_2

Schedule VI - Supplemental Information (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Supplemental Information, Property-Casualty Insurance Underwriters [Table Text Block]	Deferred Reserve for policy losses and Discount if Net acquisition settlement any deducted Unearned Net earned investment (In thousands) costs expenses from reserves premium premiums income 2023 $ 8,552 $ 71,920 $ — $ 47,260 $ 75,717 $ 5,179 2022 $ 7,167 $ 67,614 $ — $ 40,527 $ 69,057 $ 4,034 Paid losses Losses and settlement and expenses incurred related to Amortization settlement Net written (In thousands) Current year Prior year of DAC expenses premiums 2023 $ 45,381 $ 2,549 $ 15,104 $ (42,833 ) $ 82,642 2022 $ 39,434 $ 5,099 $ 13,468 $ (37,843 ) $ 73,391

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2023
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Period Increase (Decrease)	$ 0
Tangible Asset Impairment Charges	$ 0	$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%
Other Comprehensive Income (Loss), Tax	$ 590,175	3,126,487
Retained Earnings (Accumulated Deficit)	47,844,368	43,701,233
Catastrophe Reinsurance Treaty [Member]
Reinsurance Protection, Amount	14,000,000	14,000,000
Reinsurance Protection, Excess Retention	1,000,000	1,000,000
Paid and Unpaid Recoverables, Allowance Recorded from CECL	$ 82,000,000	$ 0
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Retained Earnings (Accumulated Deficit)			$ (113,760)
Building [Member]
Property, Plant and Equipment, Useful Life (Year)	39 years
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Premiums [Member] | Geographic Concentration Risk [Member] | ILLINOIS
Concentration Risk, Percentage	23.10%	22.60%

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cost	$ 10,315,398	$ 9,904,321
Accumulated depreciation	(6,990,076)	(6,590,602)
Net property and equipment	3,325,322	3,313,719
Automobiles [Member]
Cost	645,458	637,306
Furniture and Fixtures [Member]
Cost	525,843	520,835
Computer Equipment [Member]
Cost	5,037,301	4,720,932
Home Office [Member]
Cost	$ 4,106,796	$ 4,025,248

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Accumulated Other Comprehensive Earnings (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance	$ 60,440,931	$ 74,703,914
Net current period other comprehensive earnings (loss)	2,220,181	(11,761,544)
Balance	67,003,549	60,440,931
AOCI Attributable to Parent [Member]
Balance	(8,841,517)	2,920,027
Other comprehensive earnings (loss) before reclassification	2,173,761	(11,770,084)
Amount reclassified from accumulated other comprehensive earnings	46,420	8,540
Net current period other comprehensive earnings (loss)	2,220,181	(11,761,544)
Balance	$ (6,621,336)	$ (8,841,517)

Note 1 - Summary of Significa_6

Note 1 - Summary of Significant Accounting Policies - Reclassifications from Accumulated Other Comprehensive Earnings (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net realized investment gains	$ (672,857)	$ (874,470)
Total income tax benefit	1,265,199	(140,166)
Net earnings	4,256,895	(581,662)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Net earnings	46,420	8,540
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Net realized investment gains	58,760	10,810
Total income tax benefit	$ (12,340)	$ (2,270)

Note 1 - Summary of Significa_7

Note 1 - Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Gross	$ 1,053,283	$ 47,500
Finite-Lived Intangible Assets, Accumulated Amortization	$ 52,388	19,792
Guild Customer, Broker Relationships, and Name Recognition [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years
Finite-Lived Intangible Assets, Gross	$ 1,005,783	0
Finite-Lived Intangible Assets, Accumulated Amortization	$ 16,763	0
Katkin Customer, Supplier Relationships, Certifications, and System [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	3 years
Finite-Lived Intangible Assets, Gross	$ 47,500	47,500
Finite-Lived Intangible Assets, Accumulated Amortization	$ 35,625	$ 19,792

Note 2 - Investments (Details T

Note 2 - Investments (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)	May 31, 2023 USD ($)	Jan. 01, 2023 USD ($)	Nov. 30, 2021 USD ($)
Debt Securities, Available-for-Sale	$ 110,955,697	$ 93,388,971	$ 110,955,697
Debt Securities, Available-for-Sale, Allowance for Credit Loss	0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	8,974,518	3,945,837
Other-than-Temporary Impairment Losses on Available-for-Sale Securities		0
Other Investments	8,898,409	4,722,137
Investment, Funding Available for Future Investment	$ 8,050,000
Number of Apartment Rental Units	70
Real Estate Investment Property, Accumulated Depreciation	$ 682,402	609,282
Depreciation, Nonproduction	179,277	169,199
Federal Home Loan Bank of Chicago [Member]
Other Investments	425,000	425,000
Notes Receivable [Member]
Other Investments	5,495,979	4,082,507
Privately Held Investments [Member]
Other Investments	2,197,232	214,630
Investment Request Amount	1,950,000			$ 1,950,000
Funds at Lloyds [Member]
Other Investments	819,198
Limited Partnership [Member]
Other Investments	1,734,622
SAFE Investment [Member]
Other Investments	250,000
Stocks [Member]
Other Investments	$ 212,610
Private Investment Fund [Member]
Other Investments						$ 10,000,000
Notes Issued on July 30, 2019 [Member]
Investment, Funding Available for Future Investment					$ 373,307
Financing Receivable, after Allowance for Credit Loss					0
Financing Receivable, Allowance for Credit Loss		0			$ 39,000
Notes Issued on July 30, 2019 [Member] | Prime Rate [Member]
Loans Receivable, Basis Spread on Variable Rate	0.25%
Notes Issued on July 30, 2019 [Member] | Minimum [Member]
Financing Receivable, Interest Rate	3.90%
Notes Issued on July 30, 2019 [Member] | Minimum [Member] | Prime Rate [Member]
Loans Receivable, Basis Spread on Variable Rate	4%
Notes Issued on July 30, 2019 [Member] | Maximum [Member]
Financing Receivable, Interest Rate	8.25%
Residential Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale	$ 32,928,128	19,288,540
Commercial Mortgage-Backed Securities [Member]
Debt Securities, Available-for-Sale	5,629,659	8,946,897
Fixed Income Securities [Member]
Debt Securities, Available-for-Sale, Allowance for Credit Loss	$ 0	0
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	221
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions	203
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 8,974,518
Held-To-Maturity Securities, Amount On Deposit With Regulatory Authorities Or Banks	3,351,574	3,290,386
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Gain	$ 1,135,905
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss		$ 4,706,405

Note 2 - Investments - Investme

Note 2 - Investments - Investment Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investment revenue	$ 6,129,343	$ 4,984,228
Less investment expenses	(950,000)	(950,000)
Net investment income	5,179,343	4,034,228
Fixed Income Securities [Member]
Investment revenue	4,099,739	3,122,028
Real Estate Investment [Member]
Investment revenue	953,532	904,533
Equity Securities [Member]
Investment revenue	838,959	778,707
Other than Securities Investment [Member]
Investment revenue	136,709	154,332
Cash and Cash Equivalents [Member]
Investment revenue	$ 100,404	$ 24,628

Note 2 - Investments - Summary

Note 2 - Investments - Summary of Proceeds from Investments and Related Gross Realized Gains and Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fixed Income Securities [Member]
Fixed maturity securities, proceeds	$ 11,578,761	$ 17,820,507
Fixed maturity securities, realized gains	0	107,368
Fixed maturity securities, realized losses	(58,760)	(118,178)
Fixed maturity securities, net realized gains (losses)	58,760	(10,810)
Common Stock [Member]
Equity securities, proceeds	14,169,474	4,402,327
Equity securities, realized gains	2,336,113	1,213,519
Equity securities, realized losses	(1,627,268)	(316,079)
Equity securities, net realized gains (losses)	708,845	897,440
Preferred Stock [Member]
Equity securities, proceeds	337,440	646,552
Equity securities, realized gains	29,371	8,748
Equity securities, realized losses	(6,599)	(20,908)
Equity securities, net realized gains (losses)	$ (22,772)	$ (12,160)

Note 2 - Investments - Contract

Note 2 - Investments - Contractual Maturity of Fixed Income Securities (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Due in one year or less, amortized cost	$ 4,747,381
Due in one year or less, fair value	4,693,100
Due after one year through five years, amortized cost	14,750,461
Due after one year through five years, fair value	14,212,036
Due after five years through 10 years, amortized cost	23,879,765
Due after five years through 10 years, fair value	22,518,014
Due after 10 years, amortized cost	26,372,013
Due after 10 years, fair value	22,341,659
Total fixed maturity securities, amortized cost	119,336,041	$ 119,336,041	$ 104,580,681
Total fixed maturity securities, fair value	110,955,697	110,955,697	93,388,971
Collateralized Mortgage-Backed Securities [Member]
Securities without a specific due date, amortized cost	49,400,028
Securities without a specific due date, fair value	47,020,328
Securities without a specific due date, amortized cost	49,400,028
Redeemable Preferred Stock [Member]
Securities without a specific due date, amortized cost	186,393
Securities without a specific due date, fair value	170,560
Securities without a specific due date, amortized cost	186,393
Total fixed maturity securities, amortized cost		186,393	215,805
Total fixed maturity securities, fair value	$ 170,560	$ 170,560	$ 188,921

Note 2 - Investments - Schedule

Note 2 - Investments - Schedule of Cost or Amortized cost and Estimated Fair Values of Investments (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Amortized Cost	$ 119,336,041	$ 119,336,041	$ 104,580,681
Debt Securities, Available-for-Sale	110,955,697	110,955,697	93,388,971
Gross Unrealized Gains		724,472	168,461
Gross Unrealized Losses		(9,104,816)	(11,360,171)
Fixed maturity securities, amortized cost	119,336,041	119,336,041	104,580,681
US Treasury Securities [Member]
Amortized Cost		1,351,768	1,352,752
Debt Securities, Available-for-Sale	1,289,774	1,289,774	1,252,960
Gross Unrealized Gains		0	0
Gross Unrealized Losses		(61,994)	(99,792)
Fixed maturity securities, amortized cost		1,351,768	1,352,752
MBS,ABS,CMBS [Member]
Amortized Cost		49,400,028	41,858,596
Debt Securities, Available-for-Sale	47,020,328	47,020,328	38,803,341
Gross Unrealized Gains		283,957	51,477
Gross Unrealized Losses		(2,663,657)	(3,106,732)
Fixed maturity securities, amortized cost		49,400,028	41,858,596
Corporate Debt Securities [Member]
Amortized Cost		45,764,492	39,716,139
Debt Securities, Available-for-Sale	42,981,718	42,981,718	35,602,055
Gross Unrealized Gains		287,412	38,867
Gross Unrealized Losses		(3,070,186)	(4,152,951)
Fixed maturity securities, amortized cost		45,764,492	39,716,139
US States and Political Subdivisions Debt Securities [Member]
Amortized Cost		22,633,360	21,437,389
Debt Securities, Available-for-Sale	19,493,317	19,493,317	17,541,694
Gross Unrealized Gains		153,103	78,117
Gross Unrealized Losses		(3,293,146)	(3,973,812)
Fixed maturity securities, amortized cost		22,633,360	21,437,389
Redeemable Preferred Stock [Member]
Amortized Cost		186,393	215,805
Debt Securities, Available-for-Sale	$ 170,560	170,560	188,921
Gross Unrealized Gains		0	0
Gross Unrealized Losses		(15,833)	(26,884)
Fixed maturity securities, amortized cost		$ 186,393	$ 215,805

Note 2 - Investments - Fair Val

Note 2 - Investments - Fair Value of Securities in Unrealized Loss Position (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair value, less than 12 Months	$ 8,971,631	$ 61,194,560
Fair value, 12 months or longer	71,136,951	21,380,131
Fair value	80,108,582	82,574,691
Amortized cost, less than 12 Months	9,101,929	68,608,894
Amortized cost, 12 months or longer	80,111,469	25,325,968
Amortized cost	89,213,398	93,934,862
Unrealized loss, less than 12 Months	(130,298)	(7,414,334)
Unrealized loss, 12 months or longer	(8,974,518)	(3,945,837)
Unrealized loss	(9,104,816)	(11,360,171)
US Treasury Securities [Member]
Fair value, less than 12 Months	0	615,367
Fair value, 12 months or longer	1,289,774	637,594
Fair value	1,289,774	1,252,961
Amortized cost, less than 12 Months	0	652,424
Amortized cost, 12 months or longer	1,351,768	700,329
Amortized cost	1,351,768	1,352,753
Unrealized loss, less than 12 Months	0	(37,057)
Unrealized loss, 12 months or longer	(61,994)	(62,735)
Unrealized loss	(61,994)	(99,792)
MBS,ABS,CMBS [Member]
Fair value, less than 12 Months	8,345,340	21,199,819
Fair value, 12 months or longer	24,323,865	12,833,310
Fair value	32,669,205	34,033,129
Amortized cost, less than 12 Months	8,462,010	22,564,779
Amortized cost, 12 months or longer	26,870,852	14,575,082
Amortized cost	35,332,862	37,139,861
Unrealized loss, less than 12 Months	(116,670)	(1,364,960)
Unrealized loss, 12 months or longer	(2,546,987)	(1,741,772)
Unrealized loss	(2,663,657)	(3,106,732)
Corporate Debt Securities [Member]
Fair value, less than 12 Months	477,051	27,688,403
Fair value, 12 months or longer	33,352,754	5,829,396
Fair value	33,829,805	33,517,799
Amortized cost, less than 12 Months	478,370	30,584,890
Amortized cost, 12 months or longer	36,421,621	7,085,860
Amortized cost	36,899,991	37,670,750
Unrealized loss, less than 12 Months	(1,319)	(2,896,487)
Unrealized loss, 12 months or longer	(3,068,867)	(1,256,464)
Unrealized loss	(3,070,186)	(4,152,951)
US States and Political Subdivisions Debt Securities [Member]
Fair value, less than 12 Months	0	11,502,050
Fair value, 12 months or longer	12,149,238	2,079,831
Fair value	12,149,238	13,581,881
Amortized cost, less than 12 Months	0	14,590,996
Amortized cost, 12 months or longer	15,442,384	2,964,697
Amortized cost	15,442,384	17,555,693
Unrealized loss, less than 12 Months	0	(3,088,946)
Unrealized loss, 12 months or longer	(3,293,146)	(884,866)
Unrealized loss	(3,293,146)	(3,973,812)
Redeemable Preferred Stock [Member]
Fair value, less than 12 Months	149,240	188,921
Fair value, 12 months or longer	21,320	0
Fair value	170,560	188,921
Amortized cost, less than 12 Months	161,549	215,805
Amortized cost, 12 months or longer	24,844	0
Amortized cost	186,393	215,805
Unrealized loss, less than 12 Months	(12,309)	(26,884)
Unrealized loss, 12 months or longer	(3,524)	0
Unrealized loss	$ (15,833)	$ (26,884)

Note 3 - Fair Value Disclosur_3

Note 3 - Fair Value Disclosures - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale	$ 110,955,697	$ 110,955,697	$ 93,388,971
Equity securities	15,087,917		23,211,512
Total marketable investments measured at fair value	126,043,614		116,600,483
Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-Sale	1,289,774		1,252,960
Equity securities	12,191,621		20,438,907
Total marketable investments measured at fair value	13,481,395		21,691,867
Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	109,665,923		92,136,011
Equity securities	2,896,296		2,772,605
Total marketable investments measured at fair value	112,562,219		94,908,616
US Treasury Securities [Member]
Debt Securities, Available-for-Sale	1,289,774	1,289,774	1,252,960
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-Sale	1,289,774		1,252,960
MBS,ABS,CMBS [Member]
Debt Securities, Available-for-Sale	47,020,328	47,020,328	38,803,341
MBS,ABS,CMBS [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	47,020,328		38,803,341
Corporate Debt Securities [Member]
Debt Securities, Available-for-Sale	42,981,718	42,981,718	35,602,055
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	42,981,718		35,602,055
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-Sale	19,493,317	19,493,317	17,541,694
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	19,493,317		17,541,694
Redeemable Preferred Stock [Member]
Debt Securities, Available-for-Sale	170,560	$ 170,560	188,921
Redeemable Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-Sale	170,560		188,921
Common Stock [Member]
Equity securities	12,191,621		20,438,907
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Equity securities	12,191,621		20,438,907
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	0
Preferred Stock [Member]
Equity securities	2,896,296		2,772,605
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Equity securities	$ 2,896,296		$ 2,772,605

Note 4 - Policy Acquisition Cos

Note 4 - Policy Acquisition Costs - Deferred Policy Acquisition Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred policy acquisition costs	$ 7,167,036	$ 6,538,844
Direct commission	13,849,194	12,330,776
Premium taxes	1,702,222	1,271,971
Ceding commissions	(485,089)	(693,178)
Underwriting	1,423,178	1,186,150
Net deferred	16,489,505	14,095,719
Amortized	15,104,082	13,467,527
Deferred policy acquisition costs	8,552,459	7,167,036
Contingent commission	2,290,826	1,796,256
Other underwriting expenses	11,127,065	9,632,337
Total policy acquisition costs	$ 28,521,973	$ 24,896,120

Note 5 - Debt (Details Textual)

Note 5 - Debt (Details Textual) - USD ($)		1 Months Ended			12 Months Ended
	Jul. 05, 2023	May 31, 2022	May 31, 2021	Mar. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2022
Long-Term Debt					$ 15,000,000
Adjusted Capital					62,900,000
Revolving Credit Facility [Member] | Quad City Bank & Trust [Member]
Debt Instrument, Collateral Amount					4,000,000
Long-Term Line of Credit, Total					0
Debt Covenant Adjusted Capital					$ 21,000,000
Revolving Credit Facility [Member] | Quad City Bank & Trust [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | Quad City Bank & Trust [Member] | Minimum [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 2,000,000
Revolving Credit Facility [Member] | Quad City Bank & Trust [Member] | Minimum [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate					6%
Revolving Credit Facility [Member] | Quad City Bank & Trust [Member] | Maximum [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 4,000,000
Revolving Credit Facility [Member] | American Bank & Trust [Member]
Interest Expense					$ 0	$ 0
Federal Home Loan Bank of Chicago [Member]
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available					$ 48,200,000
Line of Credit Facility Maximum Borrowing Capacity Percent					25%
Advance from Federal Home Loan Bank					$ 15,000,000
Debt Instrument, Collateral Amount					$ 19,700,000
Federal Home Loan Bank of Chicago [Member] | Federal Home Loan Bank Advances, One [Member]
Proceeds from FHLBank Borrowings, Financing Activities				$ 6,000,000
Debt Instrument, Term (Year)				5 years
Debt Instrument, Interest Rate, Stated Percentage				1.40%
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged				$ 6,800,000
Federal Home Loan Bank of Chicago [Member] | Federal Home Loan Bank Advances, Two [Member]
Proceeds from FHLBank Borrowings, Financing Activities			$ 4,000,000
Debt Instrument, Term (Year)			5 years
Debt Instrument, Interest Rate, Stated Percentage			0.74%
Federal Home Loan Bank of Chicago [Member] | FHLBC May 2021 [Member]
Debt Instrument, Collateral Amount		$ 5,000,000
Federal Home Loan Bank of Chicago [Member] | FHLBC May 2021 Loan [Member]
Debt Instrument, Term (Year)		5 years
Debt Instrument, Interest Rate, Stated Percentage		1.36%

Note 6 - Reinsurance (Details T

Note 6 - Reinsurance (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reinsurance Recoverables, Including Reinsurance Premium Paid	$ 12,736,579	$ 13,610,295
Reinsurance Recoverable, Allowance for Credit Loss	82,000	$ 0
Casualty Business [Member] | Maximum [Member]
Reinsurance, Amount Retained, Per Life	1,000,000
Property [Member]
Reinsurance Maximum Individual Risk	$ 1,000,000

Note 6 - Reinsurance - Summary

Note 6 - Reinsurance - Summary of Effects of Reinsurance (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Direct	$ 92,990,535	$ 82,726,634
Reinsurance assumed	162,368	157,268
Reinsurance ceded	(10,510,588)	(9,492,472)
Net	82,642,315	73,391,430
Direct	86,260,082	78,411,890
Reinsurance assumed	160,365	157,097
Reinsurance ceded	(10,703,339)	(9,511,644)
Net	75,717,108	69,057,343
Direct	52,727,899	50,290,695
Reinsurance assumed	102,365	94,482
Reinsurance ceded	(4,900,634)	(5,852,448)
Net	$ 47,929,630	$ 44,532,729

Note 6 - Reinsurance - Schedule

Note 6 - Reinsurance - Schedule of Ceded Credit Risk (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Ceded premiums written	$ 10,510,588	$ 9,492,472
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member]
Reinsurance recoverable on paid and unpaid losses	$ 15,383,000
Reinsurance, percent	100%
Reinsurance, percent	100%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | All Other Reinsurers Including Anticipated Subrogation [Member]
Reinsurance recoverable on paid and unpaid losses	$ 812,000
Reinsurance, percent	5.30%
Reinsurance, percent	5.30%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A++ Rating [Member] | General Reinsurance Corporation [Member]
Reinsurance recoverable on paid and unpaid losses	$ 11,509,000
Reinsurance, percent	74.80%
Reinsurance, percent	74.80%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A+ Rating [Member] | Renaissance Reinsurance US Incorporate [Member]
Reinsurance recoverable on paid and unpaid losses	$ 750,000
Reinsurance, percent	4.90%
Ceded premiums written	$ 711,000
Reinsurance, percent	4.90%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A+ Rating [Member] | Hannover Rueck SE [Member]
Reinsurance recoverable on paid and unpaid losses	$ 467,000
Reinsurance, percent	3%
Reinsurance, percent	3%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A+ Rating [Member] | Partner Reinsurance Company [Member]
Reinsurance recoverable on paid and unpaid losses	$ 447,000
Reinsurance, percent	2.90%
Reinsurance, percent	2.90%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A+ Rating [Member] | Swiss Reinsurance [Member]
Reinsurance recoverable on paid and unpaid losses	$ 288,000
Reinsurance, percent	1.90%
Reinsurance, percent	1.90%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A+ Rating [Member] | Houston Casualty Company [Member]
Reinsurance recoverable on paid and unpaid losses	$ 250,000
Reinsurance, percent	1.60%
Reinsurance, percent	1.60%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A+ Rating [Member] | Axis Reins Company [Member]
Reinsurance recoverable on paid and unpaid losses	$ 210,000
Reinsurance, percent	1.40%
Reinsurance, percent	1.40%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A+ Rating [Member] | Everest Reinsurance Company [Member]
Reinsurance recoverable on paid and unpaid losses	$ 179,000
Reinsurance, percent	1.20%
Reinsurance, percent	1.20%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A Rating [Member] | Aspen Insurance UK Ltd [Member]
Reinsurance recoverable on paid and unpaid losses	$ 336,000
Reinsurance, percent	2.20%
Reinsurance, percent	2.20%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [Member] | AM Best, A Rating [Member] | Lloyd's Syndicate Number 2791 [Member]
Reinsurance recoverable on paid and unpaid losses	$ 135,000
Reinsurance, percent	0.90%
Ceded premiums written	$ 455,000
Reinsurance, percent	0.90%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member]
Reinsurance, percent	100%
Ceded premiums written	$ 10,511,000
Reinsurance, percent	100%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | All Other Reinsurers Including Anticipated Subrogation [Member]
Reinsurance, percent	11.70%
Ceded premiums written	$ 1,235,000
Reinsurance, percent	11.70%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A++ Rating [Member] | General Reinsurance Corporation [Member]
Reinsurance, percent	69.40%
Ceded premiums written	$ 7,295,000
Reinsurance, percent	69.40%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A+ Rating [Member] | Renaissance Reinsurance US Incorporate [Member]
Reinsurance, percent	6.80%
Reinsurance, percent	6.80%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A+ Rating [Member] | Hannover Rueck SE [Member]
Reinsurance, percent	4.10%
Ceded premiums written	$ 427,000
Reinsurance, percent	4.10%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A+ Rating [Member] | Partner Reinsurance Company [Member]
Reinsurance, percent	0%
Reinsurance, percent	0%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A+ Rating [Member] | Swiss Reinsurance [Member]
Reinsurance, percent	0.70%
Ceded premiums written	$ 78,000
Reinsurance, percent	0.70%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A+ Rating [Member] | Houston Casualty Company [Member]
Reinsurance, percent	2.90%
Ceded premiums written	$ 310,000
Reinsurance, percent	2.90%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A+ Rating [Member] | Axis Reins Company [Member]
Reinsurance, percent	0%
Reinsurance, percent	0%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A+ Rating [Member] | Everest Reinsurance Company [Member]
Reinsurance, percent	0.10%
Reinsurance, percent	0.10%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A Rating [Member] | Aspen Insurance UK Ltd [Member]
Reinsurance, percent	0%
Reinsurance, percent	0%
Reinsurer Concentration Risk [Member] | Reinsurance Recoverable Including Reinsurance Premium Paid [Member] | AM Best, A Rating [Member] | Lloyd's Syndicate Number 2791 [Member]
Reinsurance, percent	4.30%
Reinsurance, percent	4.30%

Note 7 - Unpaid Losses and Se_3

Note 7 - Unpaid Losses and Settlement Expenses (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Change in Liquor Liability	$ 3.1	$ 3.3
Change in Businessowner Property and Liability	1.7	3.5
Favorable Change in Workers Compensation	$ 2.2	$ 1.8

Note 7 - Unpaid Losses and Se_4

Note 7 - Unpaid Losses and Settlement Expenses - Short Duration Insurance Contracts, Claims Development (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Incurred claims and allocated claim adjustment expense	$ 322,949
Cumulative paid claims and allocated adjustment expense	264,165
Unpaid losses and settlement expense, net of reinsurance	59,101
Short-Duration Insurance Contracts, Accident Year 2014 [Member]
Incurred claims and allocated claim adjustment expense	$ 24,858	$ 24,789	$ 24,721	$ 24,737	$ 24,781	$ 24,698	$ 24,601	$ 23,139	$ 22,330	$ 22,250
Number of reported claims	1,953
Incurred but not reported	$ 78
Cumulative paid claims and allocated adjustment expense	24,567	24,554	24,204	24,175	23,707	23,027	21,398	17,261	11,718	7,782
Short-Duration Insurance Contracts, Accident Year 2015 [Member]
Incurred claims and allocated claim adjustment expense	$ 23,144	22,852	22,817	22,350	22,140	21,496	21,157	21,370	24,289
Number of reported claims	1,649
Incurred but not reported	$ 40
Cumulative paid claims and allocated adjustment expense	22,817	22,121	21,577	20,919	20,147	18,173	14,878	11,359	6,465
Short-Duration Insurance Contracts, Accident Year 2016 [Member]
Incurred claims and allocated claim adjustment expense	$ 27,199	26,995	26,740	25,951	25,236	24,612	22,824	25,618
Number of reported claims	1,618
Incurred but not reported	$ 56
Cumulative paid claims and allocated adjustment expense	26,859	26,002	25,114	22,643	20,561	16,425	13,112	7,654
Short-Duration Insurance Contracts, Accident Year 2017 [Member]
Incurred claims and allocated claim adjustment expense	$ 31,336	31,642	30,689	29,802	29,583	29,371	29,801
Number of reported claims	1,757
Incurred but not reported	$ 44
Cumulative paid claims and allocated adjustment expense	30,847	30,592	28,134	25,473	22,363	18,901	11,578
Short-Duration Insurance Contracts, Accident Year 2018 [Member]
Incurred claims and allocated claim adjustment expense	$ 27,563	27,654	27,955	28,048	28,236	29,762
Number of reported claims	1,857
Incurred but not reported	$ 178
Cumulative paid claims and allocated adjustment expense	26,878	25,805	23,481	20,337	16,665	10,451
Short-Duration Insurance Contract, Accident Year 2019 [Member]
Incurred claims and allocated claim adjustment expense	$ 34,427	34,442	34,551	33,958	33,563
Number of reported claims	1,929
Incurred but not reported	$ 419
Cumulative paid claims and allocated adjustment expense	31,243	29,683	26,987	21,614	15,285
Short-Duration Insurance Contract, Accident Year 2020 [Member]
Incurred claims and allocated claim adjustment expense	$ 31,666	30,457	29,162	31,356
Number of reported claims	1,577
Incurred but not reported	$ 837
Cumulative paid claims and allocated adjustment expense	28,209	23,566	19,367	13,055
Short-Duration Insurance Contract, Accident Year 2021 [Member]
Incurred claims and allocated claim adjustment expense	$ 39,269	36,787	33,968
Number of reported claims	1,612
Incurred but not reported	$ 2,105
Cumulative paid claims and allocated adjustment expense	30,516	22,537	14,740
Short-Duration Insurance Contract, Accident Year 2022 [Member]
Incurred claims and allocated claim adjustment expense	$ 38,106	39,434
Number of reported claims	1,555
Incurred but not reported	$ 4,532
Cumulative paid claims and allocated adjustment expense	25,770	16,512
Short-Duration Insurance Contract, Accident Year 2023 [Member]
Incurred claims and allocated claim adjustment expense	$ 45,381
Number of reported claims	1,219
Incurred but not reported	$ 21,038
Cumulative paid claims and allocated adjustment expense	16,459
Short -duration Insurance Contracts, Last Ten Years [Member]
Unpaid losses and settlement expense - years 2014 through 2023	58,784
Short-duration Insurance Contracts, Prior Accident Years [Member]
Unpaid losses and settlement expense - years 2014 through 2023	317
Property Insurance [Member]
Incurred claims and allocated claim adjustment expense	127,891
Cumulative paid claims and allocated adjustment expense	125,291
Unpaid losses and settlement expense, net of reinsurance	2,611
Property Insurance [Member] | Short-Duration Insurance Contracts, Accident Year 2014 [Member]
Incurred claims and allocated claim adjustment expense	$ 7,794	7,794	7,792	7,784	7,785	7,817	7,883	7,798	7,586	8,865
Number of reported claims	740
Cumulative paid claims and allocated adjustment expense	$ 7,805	7,805	7,803	7,801	7,795	7,795	7,796	7,746	7,631	6,243
Property Insurance [Member] | Short-Duration Insurance Contracts, Accident Year 2015 [Member]
Incurred claims and allocated claim adjustment expense	$ 7,643	7,642	7,635	7,636	7,654	7,634	7,717	7,494	7,693
Number of reported claims	554
Incurred but not reported	$ 0
Cumulative paid claims and allocated adjustment expense	7,643	7,642	7,645	7,657	7,660	7,645	7,474	7,040	5,057
Property Insurance [Member] | Short-Duration Insurance Contracts, Accident Year 2016 [Member]
Incurred claims and allocated claim adjustment expense	$ 8,392	8,387	8,327	8,404	8,381	8,372	7,981	8,941
Number of reported claims	576
Incurred but not reported	$ (5)
Cumulative paid claims and allocated adjustment expense	8,397	8,384	8,465	8,437	8,356	8,236	7,624	6,157
Property Insurance [Member] | Short-Duration Insurance Contracts, Accident Year 2017 [Member]
Incurred claims and allocated claim adjustment expense	$ 13,457	13,593	13,622	13,825	13,741	13,568	13,993
Number of reported claims	715
Incurred but not reported	$ (16)
Cumulative paid claims and allocated adjustment expense	13,469	13,451	13,363	13,595	13,610	13,482	10,055
Property Insurance [Member] | Short-Duration Insurance Contracts, Accident Year 2018 [Member]
Incurred claims and allocated claim adjustment expense	$ 11,108	11,073	11,030	10,966	11,114	11,454
Number of reported claims	725
Incurred but not reported	$ (36)
Cumulative paid claims and allocated adjustment expense	11,144	11,117	11,062	11,025	11,009	8,487
Property Insurance [Member] | Short-Duration Insurance Contract, Accident Year 2019 [Member]
Incurred claims and allocated claim adjustment expense	$ 15,145	15,078	14,976	14,758	13,933
Number of reported claims	833
Incurred but not reported	$ (14)
Cumulative paid claims and allocated adjustment expense	14,974	14,902	14,855	14,161	11,621
Property Insurance [Member] | Short-Duration Insurance Contract, Accident Year 2020 [Member]
Incurred claims and allocated claim adjustment expense	$ 16,005	15,195	15,056	13,997
Number of reported claims	937
Incurred but not reported	$ (52)
Cumulative paid claims and allocated adjustment expense	15,786	15,540	14,485	10,620
Property Insurance [Member] | Short-Duration Insurance Contract, Accident Year 2021 [Member]
Incurred claims and allocated claim adjustment expense	$ 15,392	14,799	12,968
Number of reported claims	747
Incurred but not reported	$ (287)
Cumulative paid claims and allocated adjustment expense	15,603	14,712	11,220
Property Insurance [Member] | Short-Duration Insurance Contract, Accident Year 2022 [Member]
Incurred claims and allocated claim adjustment expense	$ 16,523	16,568
Number of reported claims	746
Incurred but not reported	$ (298)
Cumulative paid claims and allocated adjustment expense	16,534	12,898
Property Insurance [Member] | Short-Duration Insurance Contract, Accident Year 2023 [Member]
Incurred claims and allocated claim adjustment expense	$ 16,433
Number of reported claims	641
Incurred but not reported	$ 593
Cumulative paid claims and allocated adjustment expense	13,934
Property Insurance [Member] | Short -duration Insurance Contracts, Last Ten Years [Member]
Unpaid losses and settlement expense - years 2014 through 2023	2,600
Property Insurance [Member] | Short-duration Insurance Contracts, Prior Accident Years [Member]
Unpaid losses and settlement expense - years 2014 through 2023	11
Accident and Health Insurance Product Line [Member]
Incurred claims and allocated claim adjustment expense	195,058
Cumulative paid claims and allocated adjustment expense	138,874
Unpaid losses and settlement expense, net of reinsurance	56,490
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contracts, Accident Year 2014 [Member]
Incurred claims and allocated claim adjustment expense	$ 17,064	16,995	16,930	16,954	16,996	16,881	16,719	15,341	14,744	13,385
Number of reported claims	1,213
Incurred but not reported	$ 78
Cumulative paid claims and allocated adjustment expense	16,762	16,750	16,401	16,374	15,912	15,232	13,603	9,515	4,088	$ 1,540
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contracts, Accident Year 2015 [Member]
Incurred claims and allocated claim adjustment expense	$ 15,501	15,209	15,182	14,714	14,486	13,862	13,441	13,876	16,597
Number of reported claims	1,095
Incurred but not reported	$ 40
Cumulative paid claims and allocated adjustment expense	15,174	14,478	13,932	13,262	12,487	10,528	7,404	4,319	$ 1,408
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contracts, Accident Year 2016 [Member]
Incurred claims and allocated claim adjustment expense	$ 18,807	18,608	18,412	17,546	16,855	16,240	14,843	16,678
Number of reported claims	1,042
Incurred but not reported	$ 61
Cumulative paid claims and allocated adjustment expense	18,461	17,618	16,649	14,206	12,205	8,189	5,488	$ 1,497
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contracts, Accident Year 2017 [Member]
Incurred claims and allocated claim adjustment expense	$ 17,879	18,049	17,068	15,976	15,842	15,803	15,808
Number of reported claims	1,042
Incurred but not reported	$ 60
Cumulative paid claims and allocated adjustment expense	17,378	17,141	14,770	11,878	8,753	5,419	$ 1,523
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contracts, Accident Year 2018 [Member]
Incurred claims and allocated claim adjustment expense	$ 16,455	16,581	16,925	17,082	17,122	18,308
Number of reported claims	1,132
Incurred but not reported	$ 214
Cumulative paid claims and allocated adjustment expense	15,734	14,687	12,419	9,312	5,656	$ 1,964
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contract, Accident Year 2019 [Member]
Incurred claims and allocated claim adjustment expense	$ 19,282	19,364	19,575	19,200	19,630
Number of reported claims	1,096
Incurred but not reported	$ 433
Cumulative paid claims and allocated adjustment expense	16,268	14,781	12,132	7,453	$ 3,664
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contract, Accident Year 2020 [Member]
Incurred claims and allocated claim adjustment expense	$ 15,661	15,262	14,107	17,359
Number of reported claims	640
Incurred but not reported	$ 889
Cumulative paid claims and allocated adjustment expense	12,422	8,026	4,882	$ 2,435
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contract, Accident Year 2021 [Member]
Incurred claims and allocated claim adjustment expense	$ 23,877	21,988	21,000
Number of reported claims	865
Incurred but not reported	$ 2,392
Cumulative paid claims and allocated adjustment expense	14,913	7,825	$ 3,520
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contract, Accident Year 2022 [Member]
Incurred claims and allocated claim adjustment expense	$ 21,583	22,866
Number of reported claims	809
Incurred but not reported	$ 4,830
Cumulative paid claims and allocated adjustment expense	9,236	$ 3,614
Accident and Health Insurance Product Line [Member] | Short-Duration Insurance Contract, Accident Year 2023 [Member]
Incurred claims and allocated claim adjustment expense	$ 28,948
Number of reported claims	578
Incurred but not reported	$ 20,445
Cumulative paid claims and allocated adjustment expense	2,525
Accident and Health Insurance Product Line [Member] | Short -duration Insurance Contracts, Last Ten Years [Member]
Unpaid losses and settlement expense - years 2014 through 2023	56,184
Accident and Health Insurance Product Line [Member] | Short-duration Insurance Contracts, Prior Accident Years [Member]
Unpaid losses and settlement expense - years 2014 through 2023	$ 306

Note 7 - Unpaid Losses and Se_5

Note 7 - Unpaid Losses and Settlement Expenses - Short-Duration Contract Reconciliation of Claims Development to Liability (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unpaid losses and settlement expense, net of reinsurance	$ 59,101,000
Reinsurance recoverable on unpaid losses and settlement expense	12,819,000
Total gross unpaid losses and LAE	71,919,585	$ 67,614,063	$ 61,835,000
Property Insurance [Member]
Unpaid losses and settlement expense, net of reinsurance	2,611,000
Reinsurance recoverable on unpaid losses and settlement expense	1,755,000
Accident and Health Insurance Product Line [Member]
Unpaid losses and settlement expense, net of reinsurance	56,490,000
Reinsurance recoverable on unpaid losses and settlement expense	$ 11,064,000

Note 7 - Unpaid Losses and Se_6

Note 7 - Unpaid Losses and Settlement Expenses - Schedule of Historical Claims Duration (Details)	Dec. 31, 2023
Historical claims duration, year one	37.40%
Historical claims duration, year two	23.20%
Historical claims duration, year three	13.50%
Historical claims duration, year five	5.80%
Historical claims duration, year six	4.30%
Historical claims duration, year eight	1.10%
Historical claims duration, year nine	(2.20%)
Historical claims duration, year four	11.30%
Historical claims duration, year seven	1.30%
Historical claims duration, year nine	2.20%
Property Insurance [Member]
Historical claims duration, year one	75.90%
Historical claims duration, year two	21.90%
Historical claims duration, year three	1.80%
Historical claims duration, year four	(0.40%)
Historical claims duration, year five	0.30%
Historical claims duration, year six	0.70%
Historical claims duration, year seven	(0.20%)
Historical claims duration, year eight	0%
Historical claims duration, year nine	(0.10%)
Historical claims duration, year nine	0.10%
Accident and Health Insurance Product Line [Member]
Historical claims duration, year one	12.30%
Historical claims duration, year two	22.70%
Historical claims duration, year three	21.80%
Historical claims duration, year five	10%
Historical claims duration, year six	6.80%
Historical claims duration, year eight	1.70%
Historical claims duration, year nine	(3.30%)
Historical claims duration, year four	19.40%
Historical claims duration, year seven	2.10%
Historical claims duration, year nine	3.30%

Note 7 - Unpaid Losses and Se_7

Note 7 - Unpaid Losses and Settlement Expenses - Schedule of Liability for Unpaid Claims and Claim Adjustment Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Gross	$ 67,614,063	$ 61,835,000
Less: Ceded	13,610,295	14,521,000
Net	54,004,000	47,314,000
Losses and settlements expenses related to current year	45,381,000	39,434,000
Losses and settlements expenses related to prior year	2,549,000	5,099,000
Total incurred	47,930,000	44,533,000
Current year, paid	16,459,000	16,512,000
Prior years, paid	26,374,000	21,331,000
Total paid	42,833,000	37,843,000
Net unpaid losses and settlement expense - end of the period	59,101,000	54,004,000
Plus: Reinsurance recoverable on unpaid losses net of CECL	12,736,579	13,610,295
Plus: CECL allowance for reinsurance recoverable on unpaid losses	82,000	0
Total gross unpaid losses and LAE	$ 71,919,585	$ 67,614,063

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%
Effective Income Tax Rate Reconciliation, Percent	22.90%	19.40%
Tax Credit Carryforward, Amount	$ 0
Open Tax Year	2020 2021 2022 2023
Operating Loss Carryforwards	$ 0

Note 8 - Income Taxes - Schedul

Note 8 - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Tax discounting of claim reserves	$ 1,018,934	$ 931,054
Unearned premium reserve	1,981,064	1,686,905
Net unrealized depreciation of securities	1,283,391	2,105,391
Deferred compensation	315,575	316,051
Provision for uncollectible accounts	27,300	10,500
Other deferred tax assets	191,577	89,347
Deferred tax assets before allowance	4,817,841	5,139,248
Less valuation allowance	0	0
Total deferred tax assets	4,817,841	5,139,248
Transition Adjustment for Loss Reserve Discounting	75,392	113,088
Deferred policy acquisition costs	1,796,016	1,505,078
Property and equipment deferred tax liabilities	175,571	143,047
Other deferred tax liabilities	123,226	81,347
Total deferred tax liabilities	2,170,205	1,842,560
Net deferred tax asset	$ 2,647,636	$ 3,296,688

Note 8 - Income Taxes - Sched_2

Note 8 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Provision for income taxes at the statutory federal tax rates	$ 1,159,640	$ (151,584)
GAAP Adjustments for Investments, DAC, and eliminations	(512,357)	818,894
Permanent tax differences	(11,327)	(20,114)
Temporary tax differences	393,686	350,153
PY Federal true-up	(35,328)	245,049
PY State true-up	69,742	(16,275)
State tax expense	112,026	107,519
Change in DTA	89,117	(1,125,063)
Prior year payments applied not already accounted for in PY provision	0	(350,000)
Other Adjustments	0	1,255
Total	$ 1,265,199	$ (140,166)

Note 9 - Employee Benefits (Det

Note 9 - Employee Benefits (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4%
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares (in shares)	350,000
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased (in dollars per share)	$ 10
Employee Stock Ownership Plan (ESOP), Compensation Expense	$ 432,267	$ 476,482
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares (in shares)	23,437	23,437
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Payment Arrangement, Expense	$ 232,286	$ 205,403
Share-Based Payment Arrangement, Tranche One [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	0.33%
Defined Contribution Plan 401k Eligible Compensation [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100%
Defined Contribution Plan 401k Profit Sharing [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	25%
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 330,095	273,851
Deferred Compensation Agreement [Member]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.80%
Defined Benefit Plan, Accumulated Benefit Obligation	$ 545,072	486,387
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 131,927	$ (42,731)
Deferred Compensation Agreement [Member] | Vesting Date A [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	25%
Deferred Compensation Agreement [Member] | Vesting Date B [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	50%
Deferred Compensation Agreement [Member] | Vesting Date C [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	75%
Deferred Compensation Agreement [Member] | Vesting Date D [Member]
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100%
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	$ 1,600,618

Note 9 - Employee Benefits - Re

Note 9 - Employee Benefits - Restricted Stock Unit Activity (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Nonvested Balance (in shares) | shares	273,591
Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 15.72
Granted, Restricted Stock Units (in shares) | shares	272,802
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 15.5
Vested, Restricted Stock Units (in shares) | shares	(232,285)
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 15.26
Nonvested Balance (in shares) | shares	314,108
Nonvested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 15.87

Note 10 - Statutory Informati_3

Note 10 - Statutory Information and Dividend Restrictions (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statutory Capital and Surplus Applying National Association of Insurance Commissioners (NAIC) Practices	$ 62,874,928	$ 59,735,422
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	6,300,000
Dividends To Security Holders [Member]
Dividends	0	0
Wisconsin Policyholders [Member]
Dividends, Cash	19,661	18,446
ICC [Member] | Dividends Received [Member]
Related Party Transaction, Amounts of Transaction	$ 1,250,000	$ 3,000,000

Note 10 - Statutory Informati_4

Note 10 - Statutory Information and Dividend Restrictions - Schedule of Subsidiary (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net income, statutory basis	$ 3,267,217	$ 3,583,308
Surplus, statutory basis	$ 62,874,928	$ 59,735,422

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingent Liabilities (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Investments	$ 8,898,409	$ 4,722,137
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 0	$ 47,000
Private Investment Fund [Member]
Other Investments			$ 10,000,000

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant (Details Textual) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01
Common Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Common Stock, Shares, Issued (in shares)	3,500,000	3,500,000
Common Stock, Shares, Outstanding (in shares)	3,138,976	3,153,741
Treasury Stock, Common, Shares (in shares)	361,024	346,259
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares (in shares)	187,498	210,935

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant - Balance Sheet - Parent Company Only (Details) - USD ($)		Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-Sale		$ 110,955,697	$ 110,955,697	$ 93,388,971
Other invested assets		8,898,409		4,722,137
Cash and cash equivalents		1,478,135		3,139,986
Accrued investment income		915,156		791,812
Income taxes - current		127,730		22,042
Fixed assets		3,325,322		3,313,719
Other assets		2,405,577		1,277,469
Total assets		211,017,013		192,162,211
Debt		15,000,000		15,000,000
Accrued expenses		7,442,617		6,072,020
Other liabilities		1,259,324		1,102,678
Total liabilities		144,013,464		131,721,280
Common stock	[1]	35,000		35,000
Additional paid-in capital		33,330,846		33,119,125
Accumulated other comprehensive earnings, net of tax		(6,621,336)		(8,841,517)
Retained Earnings (Accumulated Deficit)		47,844,368		43,701,233
Less: Unearned Employee Stock Ownership Plan shares at cost	[2]	(1,875,005)		(2,109,375)
Total equity		67,003,549		60,440,931	$ 74,703,914
Total liabilities and equity		211,017,013		192,162,211
Parent Company [Member]
Investment in subsidiaries		66,340,628		58,973,935
Debt Securities, Available-for-Sale		2,742,384		3,108,898
Common Stocks		1,431,097		1,303,224
Other invested assets		173,220		213,230
Cash and cash equivalents		668,052		348,692	$ 573,715
Due from subsidiaries		1,041,131		1,111,804
Accrued investment income		11,912		9,375
Income taxes - current		664,148		766,927
Goodwill and other intangibles		52,500		86,042
Fixed assets		1,694		15,161
Other assets		142,489		159,426
Total assets		73,269,255		66,096,714
Debt		5,366,494		5,463,608
Accrued expenses		662,969		112,722
Income taxes - deferred		22,853		24,372
Other liabilities		213,390		55,081
Total liabilities		6,265,706		5,655,783
Common stock	[3]	35,000		35,000
Treasury stock, at cost	[4]	(5,710,324)		(5,463,535)
Additional paid-in capital		33,330,846		33,119,125
Accumulated other comprehensive earnings, net of tax		(6,621,336)		(8,841,517)
Retained Earnings (Accumulated Deficit)		47,844,368		43,701,233
Less: Unearned Employee Stock Ownership Plan shares at cost	[5]	(1,875,005)		(2,109,375)
Total equity		67,003,549		60,440,931
Total liabilities and equity		$ 73,269,255		$ 66,096,714
[1]Par value $0.01; authorized: 2023 - 10,000,000 shares and 2022 – 10,000,000 shares; issued: 2023 – 3,500,000 shares and 2022 – 3,500,000 shares; outstanding: 2023 – 3,137,228 and 2022 – 3,153,741 shares[2]2023 – 199,313 shares and 2022 – 210,935 shares[3]Par value $0.01; authorized: 2023 –10,000,000 shares and 2022 – 10,000,000 shares; issued: 2023 – 3,500,000 shares and 2022 – 3,500,000 shares; outstanding: 2023 – 3,138,976 shares and 2022 – 3,153,741 shares.[4]2023 – 361,024 shares and 2022 – 346,259 shares[5]2023 – 187,498 shares and 2022 – 210,935 shares

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Registrant - Balance Sheet - Parent Company Only (Details) (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01
Common Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Common Stock, Shares, Issued (in shares)	3,500,000	3,500,000
Common Stock, Shares, Outstanding (in shares)	3,138,976	3,153,741
Treasury Stock, Common, Shares (in shares)	361,024	346,259
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares (in shares)	187,498	210,935
Parent Company [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Common Stock, Shares, Issued (in shares)	3,500,000	3,500,000
Common Stock, Shares, Outstanding (in shares)	3,153,741	3,291,852
Treasury Stock, Common, Shares (in shares)	346,259	208,148
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares (in shares)	210,935	234,374

Schedule II - Condensed Finan_6

Schedule II - Condensed Financial Information of Registrant - Statement of Earnings and Comprehensive Earnings - Parent Company Only (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net investment income (loss)	$ 5,179,343	$ 4,034,228
Net realized investment gains	672,857	874,470
Net unrealized gains (losses) on investments	1,135,905	(4,706,405)
Other income	236,914	420,202
Total revenue	82,942,127	69,679,838
Policy acquisition costs and other operating expenses	28,521,973	24,896,120
Interest expense on debt	184,122	196,070
General corporate expenses	784,308	776,747
Total expenses	77,420,033	70,401,666
Loss before equity earnings of subsidiaries and income taxes	5,522,094	(721,828)
Total income tax benefit	1,265,199	(140,166)
Net loss before equity earnings of subsidiaries	4,256,895	(581,662)
Other comprehensive earnings, net of tax	2,220,181	(11,761,544)
Parent Company [Member]
Net investment income (loss)	(28,683)	19,504
Net realized investment gains	20,186	52,564
Net unrealized gains (losses) on investments	63,457	(189,059)
Other income	2,779	197
Total revenue	57,739	(116,794)
Policy acquisition costs and other operating expenses	1,781,402	1,732,482
Interest expense on debt	0	40,281
General corporate expenses	(5,000)	0
Total expenses	1,776,402	1,772,763
Loss before equity earnings of subsidiaries and income taxes	(1,718,663)	(1,889,557)
Total income tax benefit	(316,569)	(299,543)
Net loss before equity earnings of subsidiaries	(1,402,094)	(1,590,014)
Equity earnings in subsidiaries	5,658,989	1,008,352
Net earnings (loss)	4,256,895	(581,662)
Other comprehensive earnings, net of tax	52,458	(209,209)
Equity in other comprehensive earnings (loss) of subsidiaries	2,167,723	(11,552,335)
Comprehensive earnings (loss)	$ 6,477,076	$ (12,343,206)

Schedule II - Condensed Finan_7

Schedule II - Condensed Financial Information of Registrant - Statement of Cash Flows - Parent Company Only (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Depreciation	$ 763,815	$ 693,067
Deferred income tax	89,118	(1,125,063)
Amortization of bond premium and discount	53,322	175,085
Stock-based compensation expense	604,765	589,805
Accrued investment income	(123,344)	(132,399)
Accrued expenses	1,370,597	630,409
Current federal income tax	(105,688)	173,652
Other	(978,466)	137,845
Net cash provided by operating activities	8,520,265	10,755,134
Fixed maturity securities	(26,444,434)	(20,443,812)
Fixed maturity securities	11,578,761	17,820,507
Property and equipment	(617,324)	(711,133)
Net cash used in investing activities	(9,776,653)	(6,256,602)
Repayments of borrowed funds	0	(8,455,342)
Purchase of treasury stock	(405,463)	(2,509,582)
Net cash used in financing activities	(405,463)	(5,964,924)
Net decrease in cash and cash equivalents	(1,661,851)	(1,466,392)
Cash and cash equivalents at beginning of year	3,139,986
Cash and cash equivalents at end of period	1,478,135	3,139,986
Interest paid	184,100	190,200
Parent Company [Member]
Net earnings (loss)	4,256,895	(581,662)
Net realized and unrealized (gains) losses on investments	(83,643)	136,495
Depreciation	(12,829)	24,065
Deferred income tax	14,776	23,969
Equity in undistributed income of subsidiaries	(5,658,989)	(1,008,352)
Amortization of bond premium and discount	2,226	761
Stock-based compensation expense	446,091	388,359
Intercompany notes receivable	0	4,473
Due to (from) subsidiaries	70,673	(1,046,958)
Accrued investment income	(2,537)	4,371
Accrued expenses	550,247	(4,173)
Current federal income tax	102,779	(312,389)
Other	214,246	(29,924)
Net cash provided by operating activities	(100,065)	(2,400,965)
Contributions from subsidiaries	364,529	4,691,823
Fixed maturity securities	(174,482)	(724,994)
Common stocks	(320,098)	(202,897)
Fixed maturity securities	596,618	573,820
Common stocks	284,423	173,523
Property and equipment	12,338	24,293
Net cash used in investing activities	763,328	4,535,568
Repayments of borrowed funds	(97,114)	(51,490)
Purchase of treasury stock	(246,789)	(2,308,136)
Net cash used in financing activities	(343,903)	(2,359,626)
Net decrease in cash and cash equivalents	319,360	(225,023)
Cash and cash equivalents at beginning of year	348,692	573,715
Cash and cash equivalents at end of period	668,052	348,692
Interest paid	$ 0	$ 38,531

Schedule III - Supplemental I_3

Schedule III - Supplemental Insurance Information - Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred policy acquisition costs	$ 8,552	$ 7,167
Future policy benefits, losses, claims and loss expenses	71,920	67,614
Unearned premiums	47,260	40,527
Other policy and benefits payable	1,132	1,405
Net premiums earned	75,717	69,057
Net investment income	5,179	4,034
Benefits, claims, losses and settlement expenses	47,930	44,533
Amortization of DAC	15,104	13,468
Other operating expenses	14,386	12,401
Net premiums written	82,642	73,391
Commercial Business Segment [Member]
Deferred policy acquisition costs	8,552	7,167
Future policy benefits, losses, claims and loss expenses	71,920	67,614
Unearned premiums	47,260	40,527
Other policy and benefits payable	1,132	1,405
Net premiums earned	75,717	69,057
Net investment income	5,179	4,034
Benefits, claims, losses and settlement expenses	47,930	44,533
Amortization of DAC	15,104	13,468
Other operating expenses	14,386	12,401
Net premiums written	$ 82,642	$ 73,391

Schedule IV - Reinsurance - Rei

Schedule IV - Reinsurance - Reinsurance Premiums for Insurance Companies by Product Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Gross amount	$ 86,260,082	$ 78,411,890
Ceded to other companies	10,703,339	9,511,644
Assumed from other companies	160,365	157,097
Net amount	$ 75,717,108	$ 69,057,343
Percentage of amount assumed to net	0.20%	0.20%

Schedule V - Valuation and Qu_3

Schedule V - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Allowance, Uncollectible Premium Receivable [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Beginning balance, allowance for uncollectible amounts	$ 50	$ 100
Write-offs, net of (recoveries)	347	141
Change in valuation allowance	(254)	(191)
Ending balance, allowance for uncollectible amounts	$ 143	$ 50

Schedule VI - Supplemental In_3

Schedule VI - Supplemental Information - Supplemental Information, Property-Casualty Insurance Underwriters (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred policy acquisition cost	$ 8,552	$ 7,167
Reserve for losses and settlement expenses	71,920	67,614
Discount if any deducted from reserves	0	0
Unearned premium	47,260	40,527
Net earned premiums	75,717	69,057
Investment Income, net	5,179	4,034
Deferred policy acquisition cost	8,552	7,167
Unearned premium	47,260	40,527
Investment Income, net	5,179	4,034
Losses and settlements expenses related to current year	45,381	39,434
Losses and settlements expenses related to prior year	2,549	5,099
Amortization of DAC's	15,104	13,468
Paid losses and settlement expenses	(42,833)	(37,843)
Net written premiums	82,642	73,391
Amortization of DAC's	$ 15,104	$ 13,468