ICC (ICCH) 10-Q 15 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Document And Entity Information
Entity Registrant Name	ICC Holdings, Inc.
Entity Central Index Key	1,681,903
Trading Symbol	ICCH
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		3,150,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)		Mar. 31, 2017	Dec. 31, 2016
Available for sale securities, at fair value
Fixed maturity securities (amortized cost - $66,483,930 at 3/31/2017 and $62,929,091 at 12/31/2016)		$ 67,684,804	$ 64,134,023
Available for sale securities		12,019,839	9,780,960
Property held for investment, at cost, net of accumulated depreciation of $65,259 at 3/31/2017 and $50,948 at 12/31/2016		2,199,760	2,207,424
Cash and cash equivalents		32,517,702	4,376,847
Total investments and cash		114,422,105	80,499,254
Accrued investment income		523,667	524,156
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $50,000 at 3/31/2017 and 12/31/2016		17,495,767	17,479,487
Ceded unearned premiums		243,075	270,751
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2017 and 12/31/2016		9,472,625	12,114,998
Current federal income taxes		53,873	149,252
Net deferred federal income taxes		526,422	888,254
Deferred policy acquisition costs, net		4,335,085	4,162,927
Property and equipment, at cost, net of accumulated depreciation of $4,414,058 at 3/31/2017 and $4,308,247 at 12/31/2016		3,737,076	3,719,535
Other assets		1,647,346	2,351,347
Total assets		152,457,041	122,159,961
Liabilities:
Unpaid losses and settlement expenses		49,863,933	52,817,254
Unearned premiums		24,564,128	24,777,712
Reinsurance balances payable		154,968	109,790
Corporate debt		5,215,142	3,786,950
Accrued expenses		2,487,741	4,827,042
Other liabilities		6,530,493	2,241,003
Total liabilities		88,816,405	88,559,751
Equity:
Common stock	[1]	35,000
Additional paid-in capital		32,587,566
Accumulated other comprehensive earnings, net of tax		1,208,657	1,154,175
Retained earnings		33,295,079	32,446,035
Less: Unearned Employee Stock Ownership Plan shares at cost	[2]	(3,485,666)
Total equity		63,640,636	33,600,210
Total liabilities and equity		152,457,041	122,159,961
Common Stock [Member]
Available for sale securities, at fair value
Available for sale securities	[3]	8,355,129	6,982,547
Preferred Stock [Member]
Available for sale securities, at fair value
Available for sale securities		$ 3,664,710	$ 2,798,413
[1]	Par value $0.01; authorized: 2017 - 10,000,000 shares and 2016 - 0 shares; issued: 2017 - 3,500,000 and 2016 - 0 shares; outstanding: 2017 - 3,150,000 and 2016 - 0 shares.
[2]	2017 - 350,000 shares and 2016 - 0 shares
[3]	Common stock securities consist of exchange trade funds (ETF) made up primarily of Dividends Select and the S&P 500.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Fixed maturity securities, amortized cost	$ 66,483,930	$ 62,929,091
Equity securities, amortized cost	11,389,416	9,237,142
Property held for investment, accumulated depreciation	65,259	50,948
Premiums and reinsurance balances receivable, allowances for uncollectible amounts	50,000	50,000
Reinsurance balances recoverable on unpaid losses and settlement expenses, allowances for uncollectible amounts	0	0
Property and equipment, at cost, accumulated depreciation	$ 4,414,058	$ 4,308,247
Unearned ESOP shares (in shares)	350,000	0
Common stock, par value	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	0
Common stock, shares issued (in shares)	3,500,000	0
Common stock, shares outstanding (in shares)	3,150,000	0
Common Stock [Member]
Equity securities, amortized cost	$ 7,718,532	$ 6,311,708
Preferred Stock [Member]
Equity securities, amortized cost	$ 3,670,884	$ 2,925,434

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Earnings - USD ($)		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Condensed Consolidated Statements of Earnings and Comprehensive Earnings [Abstract]
Net premiums earned		$ 10,838,106	$ 10,290,762
Net investment income		472,324	347,826
Net realized investment gains		444,781	124,248
Other income		84,258	58,325
Consolidated revenues		11,839,469	10,821,161
Losses and settlenment expenses		6,599,384	6,379,496
Policy acquisition costs		3,734,652	3,531,980
Interest expense on debt		52,310	41,347
General corporate expenses		139,215	92,889
Total expenses		10,525,561	10,045,712
Earnings before income taxes		1,313,908	775,449
Income tax expense:
Current		131,098	39,030
Deferred income tax		333,766	266,423
Total income tax expense		464,864	305,453
Net earnings		849,044	469,996
Other comprehensive earnings, net of tax		54,481	1,009,018
Comprehensive earnings		$ 903,525	$ 1,479,014
Basic:
Basic net earnings per share	[1]	$ 0.27	$ 0.15
Diluted:
Diluted net earnings per share	[1]	$ 0.27	$ 0.15
Weighted average number of common shares outstanding:
Basic	[2]	3,150,000	3,150,000
Diluted	[2]	3,150,000	3,150,000
[1]	The unaudited pro forma earnings per share for the three months ended March 31, 2016 is provided as a basis for comparison of current period earnings.
[2]	Weighted average number of common shares outstanding for the three months ended March 31, 2016 is based off of the resulting shares from the initial public offering that was completed in March 2017 and are used to calculate the pro forma earnings per share for the three months ended March 31, 2016.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows From Operating Activities
Net earnings	$ 849,044	$ 469,996
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Net realized investment gains	(444,781)	(124,248)
Depreciation	216,554	180,431
Deferred income tax	333,766	266,423
Amortization of bond premium and discount	59,521	57,100
Change in:
Accrued investment income	489	109,460
Premiums and reinsurance balances receivable (net)	(16,280)	(3,479,388)
Reinsurance balances payable	45,178
Ceded unearned premiums	27,676	(82,846)
Reinsurance balances recoverable	2,642,373	(252,731)
Deferred policy acquisition costs	(172,158)	(107,628)
Accrued expenses	(2,339,301)	(1,429,665)
Unpaid losses and settlement expenses	(2,953,321)	373,130
Unearned premiums	(213,584)	(41,095)
Current federal income tax	95,379	39,030
Other	1,151,454	(1,080,010)
Net cash provided by (used in) operating activities	(717,991)	(5,102,041)
Purchases of:
Fixed maturity securities, available-for-sale	(3,870,786)	(1,895,534)
Property and equipment	(220,148)	(536,881)
Property held for investment	(6,646)	(1,632,254)
Proceeds from sales, maturities and calls of:
Fixed maturity securities, available-for-sale	3,507,897	6,177,479
Property and equipment	365	8,300
Net cash (used in) provided by investing activities	(1,706,246)	1,732,370
Cash flows from financing activities:
Proceeds received from issuance of shares of common stock, net of offering	29,136,900
Proceeds from loan	3,499,149
Proceeds from sale leaseback		777,643
Proceeds from bank overdraft		1,253,977
Repayments of borrowed funds	(2,070,957)	(105,893)
Net cash provided by financing activities	30,565,092	1,925,727
Net increase (decrease) in cash and cash equivalents	28,140,855	(1,443,944)
Cash and cash equivalents at beginning of year	4,376,847	2,179,511
Cash and cash equivalents at end of year	32,517,702	735,567
Supplemental information:
Interest paid	52,186	42,923
Non-cash transactions:
Payable for securities purchased	3,842,037
Common Stock [Member]
Purchases of:
Equity securities, available-for-sale	(2,947,068)	$ (388,740)
Proceeds from sales, maturities and calls of:
Equity securities, available-for-sale	1,955,715
Preferred Stock [Member]
Purchases of:
Equity securities, available-for-sale	$ (125,575)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Not es to Unaudited Condensed Consolidated Financial Statements  1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  A. DESCRIPTION OF BUSINESS  ICC Holdings, Inc. is a Pennsylvania corporation that was organized in 2016. As used in this Form 10-Q, references to “the Company,” “we,” “us,” and “our” refer to the consolidated group for the period after the completion of the stock conversion and refer to ICC and its subsidiaries for the period prior to the stock conversion. On a stand-alone basis ICC Holdings, Inc is referred to as the “Parent Company.” The consolidated group consists of the holding company, ICC Holdings, Inc., an operating insurance company, Illinois Casulaty Company (ICC), and ICC’s three wholly-owned subsidiaries, Beverage Insurance Agency, Inc., an inactive insurance agency, Estrella Innovative Solutions, Inc., an outsourcing company, and ICC Realty, LLC, a real estate services and holding company. ICC is an Illinois domiciled company.  ICC Holdings, Inc. was formed so that it could acquire all of the capital stock of ICC in a mutual-to-stock conversion. The plan of conversion was approved by ICC policyholders at a special meeting on March 17, 2017. Simultaneously, surplus notes totaling $1.65 million were converted into 165,000 shares of the Company’s common stock. The Company’s offering closed on March 24, 2017, and o ur Employee Stock Ownership Plan (ESOP) purchased 350,000 of the shares in the offering. In order to complete the purchase of common shares, the ESOP borrowed money from ICC. ICC Holdings, Inc. secured a loan with American Bank & Trust in March 2017 and used the proceeds to repay ICC for the money borrowed by the ESOP. On March 28, 2017, the Company’s stocks began trading on the NASDAQ Capital Market under the “ICCH” ticker. The Company paid $978,150 of underwriting fees to Griffin Financial Group, LLC. Proceeds received from the offering net of offering costs and underwriting fees was $29. 1 million.  Prior to the conversion on March 24, 2017, ICC Holdings, Inc did not engage in any operations. After the conversion, ICC Holdings, Inc’s primary assets are the outstanding capital stock of ICC and a portion of the net proceeds from the stock offering completed in connection with the mutual-to-stock conversion. On the effective date of the con version, ICC bec a me a wholly owned subsidiary of ICC Holdings, Inc. The mutual to stock conversion was accounted for as a change in corporate form with the historic basis of ICC’s assets, liabilities, and equity unchanged as a result. The condensed c onsolidated financial statements as of March 31, 2017 and for the three months then ended, include ICC Holdings and subsidiaries. The financial statements as of December 31, 2016, as of March 31, 2016, and for the three months ended March 31, 2016, represent ICC and its subsidiaries only, as the conversion to stock form was completed on March 24, 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 Illinois, Iowa, Indiana, Minnesota, Missouri, Wisconsin, and Ohio and markets through independent agents. Approximately 35.9% and 39.2% of the premium is written in Illinois for the three months ended March 31, 2017 and 2016, respectively. ICC has three wholly owned subsidiaries, Beverage Insurance Agency, Estrella Innovative Solutions, Inc., and ICC Realty, LLC.; however the Company operates as a single segment.  B. PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION  The unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting and with the instructions to Form 10-Q. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statements. As such, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2016 Annual Report on Form 10-K. The condensed consolidated balance sheet at December 31, 2016, was derived from the audited consolidated balance sheet of ICC as of that date. Management believes that the disclosures are adequate to make the information presented not misleading, and all normal and recurring adjustments necessary to present fairly the financial position at March 31, 2017, and the results of operations of the Company and its subsidiaries for all periods presented have been made. The results of operations for any interim period are not necessarily indicative of the operating results for a full year.  The preparation of the unaudited condensed consolidated interim financial statements requires management to make estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the period. These amounts are inherently subject to change and actual results could differ significantly from these estimates.  C . SIGNIFICANT ACCOUNTING POLICIES  The Company reported significant accounting policies in its Annual Report on Form 10-K for the year ended December 31, 2016. The following are new or revised disclosures.  EMPLOYEE STOCK OWNERSHIP PLAN  The Company recognizes compensation expense related to its employee stock ownership plan (ESOP) ratably during each year for the shares committed to be allocated to participants that year, determined with reference to the fair market value of our stock at the time the commitment to allocate the shares is accrued and recognized. For purposes of calculating earnings per share, the Company includes the weighted average of ESOP shares committed to be released for the period. The ESOP c overs executives, managers and associates.  EARNINGS PER SHARE  Basic and diluted earnings per share (EPS) are calculated by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. The denominator for basic and diluted EPS includes ESOP shares committed to be release. The unaudited pro forma earnings per share for the three months ended March 31, 2016 is provided to be used as a basis for comparison of current period earnings. The weighted average number of common shares outstanding for the three months ended March 31, 2016 is based off of the resulting shares from the initial public offering that was completed in March 2017.  D. PROSPECTIVE ACCOUNTING STANDARDS  For information regarding accounting standards that the Company has not yet adopted, see the “Prospective Accounting Standards” in Note 1 – Summary of Significant Accounting Policies in the Company’s 2016 Form 10-K. The Company maintains its status as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). We have taken advantage of the extended transition period provided by Section 107 of the JOBS Act. We decided to comply with the effective dates for financial accounting standards applicable to emerging growth companies at a later date in compliance with the requirements in Sections 107(b)(2) and (3) of the JOBS Act. Such decision is irrevocable.  E. PROPERTY AND EQUIPMENT  Annually, the Company reviews the major asset classes of property and equipment held for impairment. For the periods ended March 31, 2017 and 2016, the Company recognized no impairments. Property and equipment are summarized as follows:      As of  March 31, December 31,  2017 2016  Automobiles $ 744,211 $ 668,794  Furniture and fixtures 432,179 516,318  Computer equipment and software 3,281,787 3,151,676  Home office 3,692,957 3,690,994  Total cost 8,151,134 8,027,782  Accumulated depreciation (4,414,058) (4,308,247)  Net property and equipment $ 3,737,076 $ 3,719,535  F. COMPREHENSIVE EARNINGS  Comprehensive earnings include net earnings plus unrealized gains and losses on available-for-sale investment securities, net of tax. In reporting the components of comprehensive earnings on a net basis in the statement of earnings, the Company used a 34 percent tax rate.  The following table illustrates the components of other comprehensive earnings for each period presented in the condensed consolidated interim financial statements.      Three-Month Periods Ended March 31,  2017 2016  Pre-tax Tax After-tax Pre-tax Tax After-tax  Other comprehensive earnings (loss), net of tax  Unrealized gains and losses on investments:  Unrealized holding (losses) gains arising during the period $ 527,327 $ (179,291) $ 348,036 $ 1,653,064 $ (562,042) $ 1,091,022  Reclassification adjustment for (gains) losses included in net income (444,781) 151,226 (293,555) (124,248) 42,244 (82,004)  Total other comprehensive (loss) earnings $ 82,546 $ (28,065) $ 54,481 $ 1,528,816 $ (519,798) $ 1,009,018    The following table provides the reclassifications out of accumulated other comprehensive earnings for the periods presented:      Amounts Reclassified from  Accumulated Other Comprehensive Earnings  Details about Accumulated Other Three-Month Periods Ended March 31, Affected Line Item in the Statement  Comprehensive Earnings Component 2017 2016 where Net Earnings is Presented  Unrealized gains on AFS investments:  $ (444,781) $ (124,248) Net realized investment gains  151,226 42,244 Income tax expense  Total reclassification adjustment, net of tax $ (293,555) $ (82,004)

Investments

Investments	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments	2. INVESTMENTS  The Company’s investments include fixed income debt securities and common and pref erred stock equity securities. All of the Company’s investments are presented as available-for-sale (AFS) , which are carried at fair value. When available, quoted market prices are obtained to determine fair value for the Company’s investments. If a quoted market price is not available, fair value is estimated using a secondary pricing source or using quoted market prices of similar securities. The Company has no investment securities for which fair value is determined usin g Level 3 inputs as defined in Note 3 – Fair Value Disclosures . Realized gains and losses on disposition of investments are based on specific identification of the investments sold on the settlement date, which does not differ significantly from trade date accounting.  The following is a summary of the proceeds from sales, maturities, and calls of available-for-sale securities and the related gross realized gains and losses for the three-months ended March 31 , 201 7 and 2016 .      For the Three-Months Ended Ended March 31,  Net realized  Proceeds Gains Losses gain / (Loss)  2017  Fixed maturity securities $ 3,507,897 $ 29,328 $ (18) $ 29,310  Common stocks 1,955,715 415,471 — 415,471  2016  Fixed maturity securities $ 6,177,479 $ 124,251 $ (3) $ 124,248    The am ortized cost and estimated fair value of fixed income securities at March 31, 2017 , by contractual maturity, are show n as follows:      Amortized Cost Fair Value  Due in one year or less $ 1,002,040 $ 1,007,504  Due after one year through five years 17,204,823 17,632,613  Due after five years through 10 years 14,332,542 15,014,148  Due after 10 years 11,240,936 11,419,931  Asset and mortgage backed securities without a specific due date 22,703,589 22,610,608  Total fixed maturity securities $ 66,483,930 $ 67,684,804  Expected maturities may differ from contractual maturities due to call provisions on some existing securities.  The following table is a schedule of cost or amortized cost and estimated fair values of investments in fixed income and equity securities as of March 31, 2017 and December 31, 201 6 :       Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2017  Fixed maturity securities:  U.S. treasury $ 1,345,335 $ 1,342,762 $ 2,466 $ (5,039)  MBS/ABS/CMBS 22,703,589 22,610,608 168,126 (261,107)  Corporate 26,227,525 26,984,615 827,528 (70,438)  Municipal 16,207,481 16,746,819 659,592 (120,254)  Total fixed maturity securities 66,483,930 67,684,804 1,657,712 (456,838)  Equity securities:  Common stocks 7,718,532 8,355,129 678,475 (41,878)  Preferred stocks 3,670,884 3,664,710 41,864 (48,038)  Total equity securities 11,389,416 12,019,839 720,339 (89,916)  Total AFS securities $ 77,873,346 $ 79,704,643 $ 2,378,051 $ (546,754)      Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2016  Fixed maturity securities:  U.S. treasury $ 1,244,542 $ 1,241,125 $ 2,527 $ (5,944)  MBS/ABS/CMBS 19,751,138 19,677,200 183,175 (257,113)  Corporate 27,593,568 28,344,907 842,782 (91,443)  Municipal 14,339,843 14,870,791 665,790 (134,842)  Total fixed maturity securities 62,929,091 64,134,023 1,694,274 (489,342)  Equity securities:  Common stocks 6,311,708 6,982,547 704,768 (33,929)  Preferred stocks 2,925,434 2,798,413 5,425 (132,446)  Total equity securities 9,237,142 9,780,960 710,193 (166,375)  Total AFS securities $ 72,166,233 $ 73,914,983 $ 2,404,467 $ (655,717)  Included within MBS/ABS/CMBS, as defined in Note 3 – Fair Value Disclosures, are residential mortgage backed securities with fair values of $13,517,204 and $10,288,405 and commercial mortgage backed securities of $7,560,031 and $7,600,109 at March 31, 2017 and December 31, 2016, respectively. ANALYSIS  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 March 31, 2017, and December 31, 201 6 . The table segregates the securities based on type, noting the fair value, cost (or amortized cost), and unrealized loss on each category of investment as well as in total. The table further classifies the securities based on the length of time they have been in an unrealized loss position.      March 31, 2017 December 31, 2016  12 Mos 12 Mos  < 12 Mos. & Greater Total < 12 Mos. & Greater Total  U.S. Treasury  Fair value $ 994,547 $ — $ 994,547 $ 993,576 $ — $ 993,576  Cost or Amortized cost 999,586 — 999,586 999,520 — 999,520  Unrealized Loss (5,039) — (5,039) (5,944) — (5,944)   MBS/ABS/CMBS  Fair value 10,393,841 235,713 10,629,554 10,712,987 322,641 11,035,628  Cost or Amortized cost 10,654,350 236,311 10,890,661 10,968,840 323,901 11,292,741  Unrealized Loss (260,509) (598) (261,107) (255,853) (1,260) (257,113)   Corporate  Fair value 4,194,343 988,578 5,182,921 5,476,442 984,115 6,460,557  Cost or Amortized cost 4,253,949 999,410 5,253,359 5,552,624 999,376 6,552,000  Unrealized Loss (59,606) (10,832) (70,438) (76,182) (15,261) (91,443)   Municipal  Fair value 5,703,400 — 5,703,400 2,995,362 — 2,995,362  Cost or Amortized cost 5,823,654 — 5,823,654 3,130,204 — 3,130,204  Unrealized Loss (120,254) — (120,254) (134,842) — (134,842)   Subtotal, fixed income  Fair value 21,286,131 1,224,291 22,510,422 20,178,367 1,306,756 21,485,123  Cost or Amortized cost 21,731,539 1,235,721 22,967,260 20,651,188 1,323,277 21,974,465  Unrealized Loss (445,408) (11,430) (456,838) (472,821) (16,521) (489,342)   Common Stock  Fair value — 216,690 216,690 — 445,872 445,872  Cost or Amortized cost — 258,568 258,568 — 479,801 479,801  Unrealized Loss — (41,878) (41,878) — (33,929) (33,929)   Preferred Stock  Fair value 1,917,159 — 1,917,159 2,328,345 — —  Cost or Amortized cost 1,965,197 — 1,965,197 2,460,791 — —  Unrealized Loss (48,038) — (48,038) (132,446) — (132,446)   Total  Fair value 23,203,290 1,440,981 24,644,271 22,506,712 1,752,628 24,259,340  Cost or amortized cost 23,696,736 1,494,289 25,191,025 23,111,979 1,803,078 24,915,057  Unrealized Loss $ (493,446) $ (53,308) $ (546,754) $ (605,267) $ (50,450) $ (655,717)  As of Marc h 31, 2017, the Company held 14 common equity and preferred stock securities in an unrealized loss position. Of these 14 securities, one has been in an unrealized loss position for 12 consecutive months or longer and represents $41,878 in unrealized losses. As of December 31, 2016, the Company held 21 equity securities that were in unrealized loss positions. Of these 21 securities, two were in an unrealized loss position for 12 consecutive months or longer and represented $33,929 in unrealized losses.  The fixed income portfolio contained 57 securities in an unrealized loss position as of March 31, 2017. Of these 57 securities, four have been in an unrealized loss position for 12 consecutive months or longer and represent $11,430 in unrealized losses. All fixed income securities in the investment portfolio continue to pay the expected coupon payments under the contractual terms of the securities. Credit-related impairments on fixed income securities that we do not plan to sell, and for which we are not more likely than not to be required to sell, are recognized in net earnings. Any non-credit related impairment is recognized in comprehensive earnings. Based on management’s analysis, the fixed income portfolio is of a high credit quality and it is believed it will recover the amortized cost basis of the fixed income securities. Management monitors the credit quality of the fixed income investments to assess if it is probable that the Company will receive its contractual or estimated cash flows in the form of principal and interest. There were no other-than-temporary impairment losses recognized in other comprehensive earnings in the periods presented.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures	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. The fair value of certain financial instruments is determined 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 levels of inputs that may be used to measure fair value.  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 is applied to valuations based on readily available, unadjusted quoted prices in active markets for identical assets.  · Level 2 is applied to valuations based upon quoted prices for similar assets in active markets, quoted prices for identical or similar assets in inactive markets; or valuations based on models where the significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severities) or can be corroborated by observable market data.  · Level 3 is applied to valuations that are derived from techniques in which one or more of the significant inputs are unobservable. Financial assets are classified based upon the lowest level of significant input that is used to determine fair value.  As a part of the process to determine fair value, management utilizes widely recognized, third-party pricing sources to determine fair values. Management has obtained an understanding of the third-party pricing sources’ valuation methodologies and inputs. The following is a description of the valuation techniques used for financial assets that are measured at fair value, including the general classification of such assets pursuant to the fair value hierarchy.  Corporate, Agencies, and Municipal Bonds — The pricing vendor employs a multi-dimensional model which uses standard inputs including (listed in order of priority for use) benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, market bids/offers and other reference data. The pricing vendor also monitors market indicators, as well as industry and economic events. All bonds valued using these techniques are classified as Level 2. All Corporate, Agencies, and Municipal securities are deemed Level 2.  Mortgage-backed Securities (MBS)/Collateralized Mortgage Obligations (CMO) an d Asset-backed Securities (ABS)— The pricing vendor evaluation methodology includes principally interest rate movements and new issue data. Evaluation of the tranches (non-volatile, volatile, or credit sensitivity) is based on the pricing vendors’ interpretation of accepted modeling and pricing conventions. This information is then used to determine the cash flows for each tranche, benchmark yields, pre-payment assumptions and to incorporate collateral performance. To evaluate CMO volatility, an option adjusted spread model is used in combination with models that simulate interest rate paths to determine market price information. This process allows the pricing vendor to obtain evaluations of a broad universe of securities in a way that reflects changes in yield curve, index rates, implied volatility, mortgage rates, and recent trade activity. MBS/CMO and ABS with corroborated and observable inputs are classified as Level 2. All MBS/CMO and ABS holdings are deemed Level 2.  U.S. Treasury Bonds , Common Stocks and Exchange Traded Funds — U.S. treasury bonds and exchange traded equities have readily observable price levels and are classified as Level 1 (fair value based on quoted market prices). All common stock holdings are deemed Level 1.  Preferred Stock — Preferred stocks do not have readily observable prices, but do have quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets in markets that are not active; and inputs other than quoted prices and are classified as Level 2. All preferred stock holdings are deemed Level 2.  Due to the relatively short-term nature of cash, cash equivalents, and the mortgage on the home office, their carrying amounts are reasonable estimates of fair value. Reported in Note 4–Debt , t he surp lus notes, capital lease obligations, and other debt obligations are carried at face value and given that there is no readily available market for these to trade in, management believes that face value accurately reflects fair value. Cash and cash equivalents are classified as Level 1 of the hierarchy. The mortgage on the home office and the surplus notes are carried at Level 2 of the hierarchy.  Asset s measured at fair value on a recurring basis as of March 31, 2017 , are as summarized below:      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 $ 1,342,762 $ — $ — $ 1,342,762  MBS/ABS/CMBS — 22,610,608 — 22,610,608  Corporate — 26,984,615 — 26,984,615  Municipal — 16,746,819 — 16,746,819  Total fixed maturity securities 1,342,762 66,342,042 — 67,684,804  Equity securities  Common stocks 8,355,129 — — 8,355,129  Preferred stocks — 3,664,710 — 3,664,710  Total equity securities 8,355,129 3,664,710 — 12,019,839  Total AFS securities $ 9,697,891 $ 70,006,752 $ — $ 79,704,643  Assets measured at fair value on a recurri ng basis as of December 31, 2016 , are as summarized below:     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 $ 1,241,125 $ — $ — $ 1,241,125  MBS/ABS/CMBS — 19,677,200 — 19,677,200  Corporate — 28,344,907 — 28,344,907  Municipal — 14,870,791 — 14,870,791  Total fixed maturity securities 1,241,125 62,892,898 — 64,134,023  Equity securities  Common stocks 6,982,547 — — 6,982,547  Preferred stocks — 2,798,413 — 2,798,413  Total equity securities 6,982,547 2,798,413 — 9,780,960  Total AFS seuciriteis $ 8,223,672 $ 65,691,311 $ — $ 73,914,983  As noted in the previous tables, the Company did not have any assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of March 31, 2017, and December 31, 201 6 . Additionally, there were no secur ities transferred in or out of L evels 1 or 2 during the three -month periods ended March 31, 2017 and 201 6 .

Debt

Debt	3 Months Ended
	Mar. 31, 2017
Debt [Abstract]
Debt	4. DEBT  As of March 31, 2017 and December 31, 2016, outstanding debt balances totaled $5,215,142 and $3,786,950 , respectively. The Company incurred interest expense for the three-month periods ended March 31, 2017, and 2016, of $52,310 and $41,347 , respectively. The average rate on remaining debt was 4 .0% as of March 31, 2017, compared to 5.0% as of December 31, 2016 . Long-term d ebt consists of the following as of the periods referenced below:      March 31, December 31,  2017 2016  Surplus notes $ — $ 1,850,000  Capital lease obligation 1,123,759 1,227,541  Debt obligation 3,986,018 525,619  Home office mortgage 105,365 183,790  Total $ 5,215,142 $ 3,786,950  Surplus Notes  ICC’s Plan of Conversion from a mutual to a stock company was approved by ICC policyholders at a special meeting on March 17, 2017. Simultaneously, surplus notes totaling $1.65 million, representing all outstanding surplus notes as of that date were converted into 165,000 shares of the Company’s common stock. Leasehold Obligation  The Company entered into a sale leaseback arrangement in 2016 that is accounted for as a capital lease. Under the agreement, Bofi Federal Bank purchased electronic data processing software, vehicles, and other assets which are leased to the Company. These assets remain on the Company’s books due to provisions within the agreement that trigger capital lease accounting. To secure the lowest rate possible of 4.7% , the Company pledged additional bonds totaling $860,969 during 2016, bringing the total pledged to $1,808,523 as of March 31, 2017, and December 31, 2016, respectively. There was no gain or loss recognized as part of this transaction. Lease payments totaled $125,494 and $62,111 for the three months ended March 31, 2017 and 2016, respectively. The term of the electronic data processing lease is 48 months and the term of the titled vehicles lease is 36 months. The outstanding lease obligation at March 31, 2017 was $1,123,759 compared to $1,227,541 at Decemeber 31, 2016.  Debt Obligation  The Company entered into a debt agreement in 2017 for $3,500,000 with American Bank & Trust to fund the purchase of the ESOP shares. The term of the loan is five years bearing interest at 3.65% . The Company pledged the ESOP shares and $1.5 million of trust assets as collateral for the loan. Additionally, the Company entered into two debt agreements in 2016 with Bofi Federal Bank; one agreement for $500,000 and another debt agreement for $75,000 . The terms of the loans are 36 months, but the Company has the option to prepay the $500,000 loan after 12 months. The total balance of the debt agreements at March 31, 2017 and December 31, 2016 was $3,986,018 and $525,619 , respectively. The loans bear interest at 4.7% . Interest paid for the three months ended March 31, 2017 was $7,544 . There were no borrowings and there was no interest paid on the line of credit for the three months ended March 31, 2016.  Home Office Mortgage  The Company maintains a mortgage on its home office. Interest is charged at a fixed rate of 2.6% and the loan matures in 2017 . The building is used as collateral to secure the loan. The loan balance at March 31, 2017 and December 31, 2016 was $105,365 and $183,790 , respectively. The interest paid on the loan during the three months ended March 31, 2017 and 2016, was $997 and $3,040 , respectively.  Revolving Line of Credit  We maintain a revolving line of credit with American Bank & Trust, which permits borrowing up to an aggregate principal amount of $1.75 million. This facility was entered into during 2013 and is renewed annually with a current expiration of August 1, 2017 . The line of credit is priced at 30 day LIBOR plus 2% with a floor of 3.5% . There was no interest paid on the line of credit during the three months ended March 31, 2017 and 2016. There are no financial covenants governing this agreement.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2017
Reinsurance [Abstract]
Reinsurance	5. 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 occurrence or event. The arrangements allow the Company to pursue greater diversification of business and serve to limit the maximum net loss to a single event, such as a catastrophe. Through the quantification of exposed policy limits in each region and the extensive use of computer-assisted modeling techniques, management monitors the concentration of risks exposed to catastrophic events.  Through the purchase of reinsurance, the Company also generally limits its net loss on any individual risk to a maximum of $ 500,000 , although certain treaties contain an annual aggregate deductible before reinsurance applies.  Premiums, written and earned, along with losses and settlement expenses incurred for the periods presented is summarized as follows:        Three-Month Periods Ended March 31,  2017 2016  WRITTEN  Direct $ 12,588,591 $ 12,077,065  Reinsurance assumed 39,836 45,720  Reinsurance ceded (1,976,230) (1,955,964)  Net $ 10,652,197 $ 10,166,821  EARNED  Direct $ 12,792,794 $ 12,104,517  Reinsurance assumed 49,218 59,364  Reinsurance ceded (2,003,906) (1,873,119)  Net $ 10,838,106 $ 10,290,762  LOSSES AND SETTLEMENT EXPENSES INCURRED  Direct $ 7,869,502 $ 11,289,354  Reinsurance assumed 42,432 22,599  Reinsurance ceded (1,312,550) (4,932,457)  Net $ 6,599,384 $ 6,379,496

Unpaid Losses and Settlement Ex

Unpaid Losses and Settlement Expenses	3 Months Ended
	Mar. 31, 2017
Unpaid Losses and Loss Adjustment Expenses [Abstract]
Unpaid Losses and Loss Adjustment Expenses	6. UNPAID LOSSES AND SETTLEMENT EXPENSES  The following table is a reconciliation of the Company’s unpaid loss es and settlement expenses :      For the periods ending  March 31, March 31,  (In thousands) 2017 2016  Unpaid losses and settlement expense - beginning of the period:  Gross $ 52,817 $ 61,056  Less: Ceded 12,115 19,158  Net 40,702 41,898  Increase (decrease) in incurred losses and settlement expense:  Current year 6,893 6,504  Prior years (294) (125)  Total incurred 6,599 6,379  Deduct: Loss and settlement expense payments for claims incurred:  Current year 1,974 795  Prior years 4,936 5,501  Total paid 6,910 6,296  Net unpaid losses and settlement expense - end of the period 40,391 41,981  Plus: Reinsurance recoverable on unpaid losses 9,473 19,448  Gross unpaid losses and settlement expense - end of the period $ 49,864 $ 61,429

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Taxes [Abstract]
Income Taxes	7. INCOME TAXES  The Company’s effective tax rate for the three month period ended March 31 , 201 7 , was 35.4% , compared to 39.4% for the same period in 201 6. Effective rates are dependent upon components of pretax earnings and the related tax effects.  Income tax expense for the three-month periods ended March 31 , 201 7 and 201 6 , differed from the amounts computed by applying the U.S. federal tax rate of 34 % to pretax income from continuing operations as demonstrated in the following tables:      For the Three-Months Ended  Ended March 31,  2017 2016  Provision for income taxes at the statutory federal tax rates $ 446,729 $ 263,653  Increase (reduction) in taxes resulting from:  Dividends received deduction (9,104) —  Tax-exempt interest income (40,338) (43,665)  15% proration of tax exempt interest and dividends received decution 7,416 6,550  Officer life insurance, net 5,003 5,794  Nondeductible expenses 8,811 10,220  Prior year true-ups and other 46,347 62,901  Total $ 464,864 $ 305,453   The Company has recorded its deferred tax assets and liabilities using the statutory federal tax rate of 34 % . Management believes it is more likely than not that all deferred tax assets will be recovered as the result of future operations, which will generate sufficient taxable income to realize the deferred tax asset. In addition, it is believed that when these deferred items reverse in future years, taxable income will be taxed at an effective rate of 34 % .  As of March 31, 2017 and December 31, 201 6 , the Company does not have any capital or operating loss carryforwards. Periods still subject to Internal Revenue Service (IRS) audit include 201 3 through current year. There are currently no open tax exams.

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2017
Employee Benefits [Abstract]
Employee Benefits	8. EMPLOYEE BENEFITS  ESOP  In connection with our conversion and public offering, we establish 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 shareholder’s 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 make discretionary contributions to the ESOP and pay dividends on unallocated shares to the ESOP, the ESOP uses funds it receiveds to repay the loan. When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorde d. No contributions to the ESOP were made during the three months ended March 31, 2017.  A compensation expense charge is booked ratably during each year for the shares committed to be allocated to particpants that year, determined with reference to the fair market value of our stock at the time the commitment to allocate the shares is accrued and recognized. For the three months ended March 31, 2017, we recognized compensation expense of $22,111 related to 1,433 shares of our common stock that were committed to be released to partipants’ accounts at December 31, 2017. The committment to release these shares was recognized on March 31, 2017 and had no impact on the weighted average common shares outstanding for the three months ended March 31, 2017. 

Related Party

Related Party	3 Months Ended
	Mar. 31, 2017
Related Party [Abstract]
Related Party	9. RELATED PARTY  Mr. John R. Klocka u, a director of the Company, he ld two surplus note s from the Company totaling $1,150,000 which were converted into 115,000 shares of the Company’s common stock on March 17, 2017. John R. Klockau received a payment for interest on the surplus notes of $12,975 during the three months ended March 31, 2017. Additionally, Mr. Klockau is a claims consultant and was paid $2,470 and $2,585 as of March 31, 2017 and 2016, respectively, related to his services to the Company.  Mr. Scott T. Burgess is a director of the Company and a Senior Managing Director of Griffin Financial Group (Griffin). Mr. Burgess was paid $841 and $0 as of March 31, 2017 and 2016, respectively. Griffin was paid $0 as of March 31, 2017 and 2016, respectively. Griffin and Stevens & Lee are affiliated. Stevens & Lee is a full-service law firm that was paid $893,240 and $17,950 as of March 31, 2017 and 2016, respectively.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	B. PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION  The unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting and with the instructions to Form 10-Q. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statements. As such, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2016 Annual Report on Form 10-K. The condensed consolidated balance sheet at December 31, 2016, was derived from the audited consolidated balance sheet of ICC as of that date. Management believes that the disclosures are adequate to make the information presented not misleading, and all normal and recurring adjustments necessary to present fairly the financial position at March 31, 2017, and the results of operations of the Company and its subsidiaries for all periods presented have been made. The results of operations for any interim period are not necessarily indicative of the operating results for a full year.  The preparation of the unaudited condensed consolidated interim financial statements requires management to make estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the period. These amounts are inherently subject to change and actual results could differ significantly from these estimates.
Employee Stock Ownership Plan	 EMPLOYEE STOCK OWNERSHIP PLAN  The Company recognizes compensation expense related to its employee stock ownership plan (ESOP) ratably during each year for the shares committed to be allocated to participants that year, determined with reference to the fair market value of our stock at the time the commitment to allocate the shares is accrued and recognized. For purposes of calculating earnings per share, the Company includes the weighted average of ESOP shares committed to be released for the period. The ESOP c overs executives, managers and associates.
Earnings Per Share	EARNINGS PER SHARE  Basic and diluted earnings per share (EPS) are calculated by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. The denominator for basic and diluted EPS includes ESOP shares committed to be release. The unaudited pro forma earnings per share for the three months ended March 31, 2016 is provided to be used as a basis for comparison of current period earnings. The weighted average number of common shares outstanding for the three months ended March 31, 2016 is based off of the resulting shares from the initial public offering that was completed in March 2017.
Prospective Accounting Standards	D. PROSPECTIVE ACCOUNTING STANDARDS  For information regarding accounting standards that the Company has not yet adopted, see the “Prospective Accounting Standards” in Note 1 – Summary of Significant Accounting Policies in the Company’s 2016 Form 10-K. The Company maintains its status as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). We have taken advantage of the extended transition period provided by Section 107 of the JOBS Act. We decided to comply with the effective dates for financial accounting standards applicable to emerging growth companies at a later date in compliance with the requirements in Sections 107(b)(2) and (3) of the JOBS Act. Such decision is irrevocable.
Property and Equipment	E. PROPERTY AND EQUIPMENT  Annually, the Company reviews the major asset classes of property and equipment held for impairment. For the periods ended March 31, 2017 and 2016, the Company recognized no impairments. Property and equipment are summarized as follows:      As of  March 31, December 31,  2017 2016  Automobiles $ 744,211 $ 668,794  Furniture and fixtures 432,179 516,318  Computer equipment and software 3,281,787 3,151,676  Home office 3,692,957 3,690,994  Total cost 8,151,134 8,027,782  Accumulated depreciation (4,414,058) (4,308,247)  Net property and equipment $ 3,737,076 $ 3,719,535 
Comprehensive Earnings	F. COMPREHENSIVE EARNINGS  Comprehensive earnings include net earnings plus unrealized gains and losses on available-for-sale investment securities, net of tax. In reporting the components of comprehensive earnings on a net basis in the statement of earnings, the Company used a 34 percent tax rate.  The following table illustrates the components of other comprehensive earnings for each period presented in the condensed consolidated interim financial statements.      Three-Month Periods Ended March 31,  2017 2016  Pre-tax Tax After-tax Pre-tax Tax After-tax  Other comprehensive earnings (loss), net of tax  Unrealized gains and losses on investments:  Unrealized holding (losses) gains arising during the period $ 527,327 $ (179,291) $ 348,036 $ 1,653,064 $ (562,042) $ 1,091,022  Reclassification adjustment for (gains) losses included in net income (444,781) 151,226 (293,555) (124,248) 42,244 (82,004)  Total other comprehensive (loss) earnings $ 82,546 $ (28,065) $ 54,481 $ 1,528,816 $ (519,798) $ 1,009,018    The following table provides the reclassifications out of accumulated other comprehensive earnings for the periods presented:      Amounts Reclassified from  Accumulated Other Comprehensive Earnings  Details about Accumulated Other Three-Month Periods Ended March 31, Affected Line Item in the Statement  Comprehensive Earnings Component 2017 2016 where Net Earnings is Presented  Unrealized gains on AFS investments:  $ (444,781) $ (124,248) Net realized investment gains  151,226 42,244 Income tax expense  Total reclassification adjustment, net of tax $ (293,555) $ (82,004) 

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Summary of Property, Plant and Equipment	   As of  March 31, December 31,  2017 2016  Automobiles $ 744,211 $ 668,794  Furniture and fixtures 432,179 516,318  Computer equipment and software 3,281,787 3,151,676  Home office 3,692,957 3,690,994  Total cost 8,151,134 8,027,782  Accumulated depreciation (4,414,058) (4,308,247)  Net property and equipment $ 3,737,076 $ 3,719,535 
Summary of Components of Other Comprehensive Earnings	   Three-Month Periods Ended March 31,  2017 2016  Pre-tax Tax After-tax Pre-tax Tax After-tax  Other comprehensive earnings (loss), net of tax  Unrealized gains and losses on investments:  Unrealized holding (losses) gains arising during the period $ 527,327 $ (179,291) $ 348,036 $ 1,653,064 $ (562,042) $ 1,091,022  Reclassification adjustment for (gains) losses included in net income (444,781) 151,226 (293,555) (124,248) 42,244 (82,004)  Total other comprehensive (loss) earnings $ 82,546 $ (28,065) $ 54,481 $ 1,528,816 $ (519,798) $ 1,009,018 
Schedule of Reclassifications Out of Accumulated Other Comprehensive Earnins	   Amounts Reclassified from  Accumulated Other Comprehensive Earnings  Details about Accumulated Other Three-Month Periods Ended March 31, Affected Line Item in the Statement  Comprehensive Earnings Component 2017 2016 where Net Earnings is Presented  Unrealized gains on AFS investments:  $ (444,781) $ (124,248) Net realized investment gains  151,226 42,244 Income tax expense  Total reclassification adjustment, net of tax $ (293,555) $ (82,004) 

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Summary of Recognized Impairments	   For the Three-Months Ended Ended March 31,  Net realized  Proceeds Gains Losses gain / (Loss)  2017  Fixed maturity securities $ 3,507,897 $ 29,328 $ (18) $ 29,310  Common stocks 1,955,715 415,471 — 415,471  2016  Fixed maturity securities $ 6,177,479 $ 124,251 $ (3) $ 124,248 
Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity	   Amortized Cost Fair Value  Due in one year or less $ 1,002,040 $ 1,007,504  Due after one year through five years 17,204,823 17,632,613  Due after five years through 10 years 14,332,542 15,014,148  Due after 10 years 11,240,936 11,419,931  Asset and mortgage backed securities without a specific due date 22,703,589 22,610,608  Total fixed maturity securities $ 66,483,930 $ 67,684,804 
Schedule of Cost or Amortized Cost and Estimated Fair Values of Investments	     Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2017  Fixed maturity securities:  U.S. treasury $ 1,345,335 $ 1,342,762 $ 2,466 $ (5,039)  MBS/ABS/CMBS 22,703,589 22,610,608 168,126 (261,107)  Corporate 26,227,525 26,984,615 827,528 (70,438)  Municipal 16,207,481 16,746,819 659,592 (120,254)  Total fixed maturity securities 66,483,930 67,684,804 1,657,712 (456,838)  Equity securities:  Common stocks 7,718,532 8,355,129 678,475 (41,878)  Preferred stocks 3,670,884 3,664,710 41,864 (48,038)  Total equity securities 11,389,416 12,019,839 720,339 (89,916)  Total AFS securities $ 77,873,346 $ 79,704,643 $ 2,378,051 $ (546,754)      Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2016  Fixed maturity securities:  U.S. treasury $ 1,244,542 $ 1,241,125 $ 2,527 $ (5,944)  MBS/ABS/CMBS 19,751,138 19,677,200 183,175 (257,113)  Corporate 27,593,568 28,344,907 842,782 (91,443)  Municipal 14,339,843 14,870,791 665,790 (134,842)  Total fixed maturity securities 62,929,091 64,134,023 1,694,274 (489,342)  Equity securities:  Common stocks 6,311,708 6,982,547 704,768 (33,929)  Preferred stocks 2,925,434 2,798,413 5,425 (132,446)  Total equity securities 9,237,142 9,780,960 710,193 (166,375)  Total AFS securities $ 72,166,233 $ 73,914,983 $ 2,404,467 $ (655,717) 
Summary of Impairment Analysis and Value of Securities in an Unrealized Loss Position	   March 31, 2017 December 31, 2016  12 Mos 12 Mos  < 12 Mos. & Greater Total < 12 Mos. & Greater Total  U.S. Treasury  Fair value $ 994,547 $ — $ 994,547 $ 993,576 $ — $ 993,576  Cost or Amortized cost 999,586 — 999,586 999,520 — 999,520  Unrealized Loss (5,039) — (5,039) (5,944) — (5,944)   MBS/ABS/CMBS  Fair value 10,393,841 235,713 10,629,554 10,712,987 322,641 11,035,628  Cost or Amortized cost 10,654,350 236,311 10,890,661 10,968,840 323,901 11,292,741  Unrealized Loss (260,509) (598) (261,107) (255,853) (1,260) (257,113)   Corporate  Fair value 4,194,343 988,578 5,182,921 5,476,442 984,115 6,460,557  Cost or Amortized cost 4,253,949 999,410 5,253,359 5,552,624 999,376 6,552,000  Unrealized Loss (59,606) (10,832) (70,438) (76,182) (15,261) (91,443)   Municipal  Fair value 5,703,400 — 5,703,400 2,995,362 — 2,995,362  Cost or Amortized cost 5,823,654 — 5,823,654 3,130,204 — 3,130,204  Unrealized Loss (120,254) — (120,254) (134,842) — (134,842)   Subtotal, fixed income  Fair value 21,286,131 1,224,291 22,510,422 20,178,367 1,306,756 21,485,123  Cost or Amortized cost 21,731,539 1,235,721 22,967,260 20,651,188 1,323,277 21,974,465  Unrealized Loss (445,408) (11,430) (456,838) (472,821) (16,521) (489,342)   Common Stock  Fair value — 216,690 216,690 — 445,872 445,872  Cost or Amortized cost — 258,568 258,568 — 479,801 479,801  Unrealized Loss — (41,878) (41,878) — (33,929) (33,929)   Preferred Stock  Fair value 1,917,159 — 1,917,159 2,328,345 — —  Cost or Amortized cost 1,965,197 — 1,965,197 2,460,791 — —  Unrealized Loss (48,038) — (48,038) (132,446) — (132,446)   Total  Fair value 23,203,290 1,440,981 24,644,271 22,506,712 1,752,628 24,259,340  Cost or amortized cost 23,696,736 1,494,289 25,191,025 23,111,979 1,803,078 24,915,057  Unrealized Loss $ (493,446) $ (53,308) $ (546,754) $ (605,267) $ (50,450) $ (655,717) 

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Summary of Assets Measured at Fair Value on a recurring Basis	Asset s measured at fair value on a recurring basis as of March 31, 2017 , are as summarized below:      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 $ 1,342,762 $ — $ — $ 1,342,762  MBS/ABS/CMBS — 22,610,608 — 22,610,608  Corporate — 26,984,615 — 26,984,615  Municipal — 16,746,819 — 16,746,819  Total fixed maturity securities 1,342,762 66,342,042 — 67,684,804  Equity securities  Common stocks 8,355,129 — — 8,355,129  Preferred stocks — 3,664,710 — 3,664,710  Total equity securities 8,355,129 3,664,710 — 12,019,839  Total AFS securities $ 9,697,891 $ 70,006,752 $ — $ 79,704,643  Assets measured at fair value on a recurri ng basis as of December 31, 2016 , are as summarized below:     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 $ 1,241,125 $ — $ — $ 1,241,125  MBS/ABS/CMBS — 19,677,200 — 19,677,200  Corporate — 28,344,907 — 28,344,907  Municipal — 14,870,791 — 14,870,791  Total fixed maturity securities 1,241,125 62,892,898 — 64,134,023  Equity securities  Common stocks 6,982,547 — — 6,982,547  Preferred stocks — 2,798,413 — 2,798,413  Total equity securities 6,982,547 2,798,413 — 9,780,960  Total AFS seuciriteis $ 8,223,672 $ 65,691,311 $ — $ 73,914,983 

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt [Abstract]
Schedule of Long-Term Debt	   March 31, December 31,  2017 2016  Surplus notes $ — $ 1,850,000  Capital lease obligation 1,123,759 1,227,541  Debt obligation 3,986,018 525,619  Home office mortgage 105,365 183,790  Total $ 5,215,142 $ 3,786,950 

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2017
Reinsurance [Abstract]
Summary of the Effects of Reinsurance	   Three-Month Periods Ended March 31,  2017 2016  WRITTEN  Direct $ 12,588,591 $ 12,077,065  Reinsurance assumed 39,836 45,720  Reinsurance ceded (1,976,230) (1,955,964)  Net $ 10,652,197 $ 10,166,821  EARNED  Direct $ 12,792,794 $ 12,104,517  Reinsurance assumed 49,218 59,364  Reinsurance ceded (2,003,906) (1,873,119)  Net $ 10,838,106 $ 10,290,762  LOSSES AND SETTLEMENT EXPENSES INCURRED  Direct $ 7,869,502 $ 11,289,354  Reinsurance assumed 42,432 22,599  Reinsurance ceded (1,312,550) (4,932,457)  Net $ 6,599,384 $ 6,379,496 

Unpaid Losses and Settlement 21

Unpaid Losses and Settlement Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Unpaid Losses and Loss Adjustment Expenses [Abstract]
Schedule of the Changes in the Reserves for Losses and Loss Adjustment Expense	   For the periods ending  March 31, March 31,  (In thousands) 2017 2016  Unpaid losses and settlement expense - beginning of the period:  Gross $ 52,817 $ 61,056  Less: Ceded 12,115 19,158  Net 40,702 41,898  Increase (decrease) in incurred losses and settlement expense:  Current year 6,893 6,504  Prior years (294) (125)  Total incurred 6,599 6,379  Deduct: Loss and settlement expense payments for claims incurred:  Current year 1,974 795  Prior years 4,936 5,501  Total paid 6,910 6,296  Net unpaid losses and settlement expense - end of the period 40,391 41,981  Plus: Reinsurance recoverable on unpaid losses 9,473 19,448  Gross unpaid losses and settlement expense - end of the period $ 49,864 $ 61,429 

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2017
Income Taxes [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	   For the Three-Months Ended  Ended March 31,  2017 2016  Provision for income taxes at the statutory federal tax rates $ 446,729 $ 263,653  Increase (reduction) in taxes resulting from:  Dividends received deduction (9,104) —  Tax-exempt interest income (40,338) (43,665)  15% proration of tax exempt interest and dividends received decution 7,416 6,550  Officer life insurance, net 5,003 5,794  Nondeductible expenses 8,811 10,220  Prior year true-ups and other 46,347 62,901  Total $ 464,864 $ 305,453 

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Narrative) (Details)	Mar. 28, 2017USD ($)	Mar. 17, 2017USD ($)shares	Mar. 31, 2017USD ($)entityshares	Mar. 31, 2016	Mar. 24, 2017shares	Dec. 31, 2016shares
Summary Of Significant Accounting Policies [Line Items]
Employee stock ownership plan, shares | shares			350,000		350,000	0
Underwriting fees paid	$ 978,150
Proceeds received from issuance of shares of common stock, net of offering			$ 29,136,900
Federal tax rate			34.00%	34.00%
Illinois [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk			35.90%	39.20%
Illinois Casualty Company [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of subsidiaries | entity			3
Surplus Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Notes converted		$ 1,650,000
Debt converted, shares issued | shares		165,000

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Summary of Property, Plant and Equipment) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total cost	$ 8,151,134	$ 8,027,782
Accumulated depreciation	(4,414,058)	(4,308,247)
Net property and equipent	3,737,076	3,719,535
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Total cost	744,211	668,794
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total cost	432,179	516,318
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Total cost	3,281,787	3,151,676
Home Office [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 3,692,957	$ 3,690,994

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Summary of Components of Other Comprehensive Earnings) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Unrealized holding (losses) gains arising during the period, Pre-tax	$ 527,327	$ 1,653,064
Reclassification adjustment for (gains) losses included in net income, Pre-tax	(444,781)	(124,248)
Total other comprehensive (loss) earnings, Pre-tax	82,546	1,528,816
Unrealized holding (losses) gains arising during the period, Tax	(179,291)	(562,042)
Reclassification adjustment for (gains) losses included in net income, Tax	151,226	42,244
Total other comprehensive (loss) earnings, Tax	(28,065)	(519,798)
Unrealized holding (losses) gains arising during the period, After-tax	348,036	1,091,022
Reclassification adjustment for (gains) losses included in net income, After-tax	(293,555)	(82,004)
Other comprehensive income (loss)	$ 54,481	$ 1,009,018

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Schedule of Reclassification Out of Accumulated Other Comprehensive Earnings) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized investment gains	$ 444,781	$ 124,248
Income tax expense	464,864	305,453
Total reclassification adjustment, net of tax	(293,555)	(82,004)
Unrealized Gains on AFS Investments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized investment gains	(444,781)	(124,248)
Income tax expense	$ 151,226	$ 42,244

Investments (Narrative) (Detail

Investments (Narrative) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)item	Dec. 31, 2016USD ($)item
Schedule of Available-for-sale Securities [Line Items]
OTTI losses recognized in other comprehensive earnings	$ 0	$ 0
Fair value	$ 79,704,643	$ 73,914,983
Common Equity And Preferred Stock Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of securities in an unrealized loss position | item	14	21
Number of securities in an unrealized loss position for 12 consecutive months or longer | item	1	2
Unrealized losses	$ 41,878	$ 33,929
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of securities in an unrealized loss position | item	57
Number of securities in an unrealized loss position for 12 consecutive months or longer | item	4
Unrealized losses	$ 11,430
MBS/ABS/CMBS [Member] | Residential Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	13,517,204	10,288,405
MBS/ABS/CMBS [Member] | Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 7,560,031	$ 7,600,109

Investments (Summary of Recogni

Investments (Summary of Recognized Impairments) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fixed Maturity Securities [Member]
Proceeds	$ 3,507,897	$ 6,177,479
Gains	29,328	124,251
Losses	(18)	(3)
Net realized gain / (loss)	29,310	$ 124,248
Common Stocks [Member]
Proceeds	1,955,715
Gains	415,471
Net realized gain / (loss)	$ 415,471

Investments (Summary of Amortiz

Investments (Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Investments [Abstract]
Due in one year or less, amortized cost	$ 1,002,040
Due after one year through five years, amortized cost	17,204,823
Due after five years through 10 years, amortized cost	14,332,542
Due after 10 years, amortized cost	11,240,936
Asset and mortgage backed securities without a specific due date, amortized cost	22,703,589
Fixed maturity securities, amortized cost	66,483,930	$ 62,929,091
Due in one year or less, fair value	1,007,504
Due after one year through five years, fair value	17,632,613
Due after five years through 10 years, fair value	15,014,148
Due after 10 years, fair value	11,419,931
Asset and mortgage backed securities witout a specific due date, fair value	22,610,608
Fixed maturity securities, fair value	$ 67,684,804	$ 64,134,023

Investments (Schedule of Cost o

Investments (Schedule of Cost or Amortized Cost and Estimated Fair Values of Investments) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	$ 66,483,930	$ 62,929,091
Equity securities, amortized cost	11,389,416	9,237,142
AFS securities, amortized cost	77,873,346	72,166,233
Fixed maturity securities, fair value	67,684,804	64,134,023
Equity securities, fair value	12,019,839	9,780,960
AFS securities, fair value	79,704,643	73,914,983
Fixed maturity securities, gross unrealized gains	1,657,712	1,694,274
Equity securities, gross unrealized gains	720,339	710,193
Total AFS securities, gross unrealized gains	2,378,051	2,404,467
Fixed maturity securities, gross unrealized losses	(456,838)	(489,342)
Equity securities, gross unrealized losses	(89,916)	(166,375)
Total AFS securities, gross unrealized losses	(546,754)	(655,717)
US Treasury [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	1,345,335	1,244,542
Fixed maturity securities, fair value	1,342,762	1,241,125
Fixed maturity securities, gross unrealized gains	2,466	2,527
Fixed maturity securities, gross unrealized losses	(5,039)	(5,944)
MBS/ABS/CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	22,703,589	19,751,138
Fixed maturity securities, fair value	22,610,608	19,677,200
Fixed maturity securities, gross unrealized gains	168,126	183,175
Fixed maturity securities, gross unrealized losses	(261,107)	(257,113)
Corporate [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	26,227,525	27,593,568
Fixed maturity securities, fair value	26,984,615	28,344,907
Fixed maturity securities, gross unrealized gains	827,528	842,782
Fixed maturity securities, gross unrealized losses	(70,438)	(91,443)
Municipal [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	16,207,481	14,339,843
Fixed maturity securities, fair value	16,746,819	14,870,791
Fixed maturity securities, gross unrealized gains	659,592	665,790
Fixed maturity securities, gross unrealized losses	(120,254)	(134,842)
Common Stocks [Member]
Schedule of Available-for-sale Securities [Line Items]
Equity securities, amortized cost	7,718,532	6,311,708
Equity securities, fair value	8,355,129	6,982,547
Equity securities, gross unrealized gains	678,475	704,768
Equity securities, gross unrealized losses	(41,878)	(33,929)
Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Equity securities, amortized cost	3,670,884	2,925,434
Equity securities, fair value	3,664,710	2,798,413
Equity securities, gross unrealized gains	41,864	5,425
Equity securities, gross unrealized losses	$ (48,038)	$ (132,446)

Investments (Summary of Impairm

Investments (Summary of Impairment Analysis and Value of Securities in an Unrealized Loss Position) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	$ 23,203,290	$ 22,506,712
Greater than 12 months, fair value	1,440,981	1,752,628
Fair value	24,644,271	24,259,340
Less than 12 months, amortized cost	23,696,736	23,111,979
Greater than 12 months, amortized cost	1,494,289	1,803,078
Amortized cost	25,191,025	24,915,057
Less than 12 months, unrealized loss	(493,446)	(605,267)
Greater than 12 months, unrealized loss	(53,308)	(50,450)
Unrealized losses	(546,754)	(655,717)
US Treasury [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	994,547	993,576
Greater than 12 months, fair value
Fair value	994,547	993,576
Less than 12 months, amortized cost	999,586	999,520
Greater than 12 months, amortized cost
Amortized cost	999,586	999,520
Less than 12 months, unrealized loss	(5,039)	(5,944)
Greater than 12 months, unrealized loss
Unrealized losses	(5,039)	(5,944)
MBS/ABS/CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	10,393,841	10,712,987
Greater than 12 months, fair value	235,713	322,641
Fair value	10,629,554	11,035,628
Less than 12 months, amortized cost	10,654,350	10,968,840
Greater than 12 months, amortized cost	236,311	323,901
Amortized cost	10,890,661	11,292,741
Less than 12 months, unrealized loss	(260,509)	(255,853)
Greater than 12 months, unrealized loss	(598)	(1,260)
Unrealized losses	(261,107)	(257,113)
Corporate [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	4,194,343	5,476,442
Greater than 12 months, fair value	988,578	984,115
Fair value	5,182,921	6,460,557
Less than 12 months, amortized cost	4,253,949	5,552,624
Greater than 12 months, amortized cost	999,410	999,376
Amortized cost	5,253,359	6,552,000
Less than 12 months, unrealized loss	(59,606)	(76,182)
Greater than 12 months, unrealized loss	(10,832)	(15,261)
Unrealized losses	(70,438)	(91,443)
Municipal [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	5,703,400	2,995,362
Greater than 12 months, fair value
Fair value	5,703,400	2,995,362
Less than 12 months, amortized cost	5,823,654	3,130,204
Greater than 12 months, amortized cost
Amortized cost	5,823,654	3,130,204
Less than 12 months, unrealized loss	(120,254)	(134,842)
Greater than 12 months, unrealized loss
Unrealized losses	(120,254)	(134,842)
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	21,286,131	20,178,367
Greater than 12 months, fair value	1,224,291	1,306,756
Fair value	22,510,422	21,485,123
Less than 12 months, amortized cost	21,731,539	20,651,188
Greater than 12 months, amortized cost	1,235,721	1,323,277
Amortized cost	22,967,260	21,974,465
Less than 12 months, unrealized loss	(445,408)	(472,821)
Greater than 12 months, unrealized loss	(11,430)	(16,521)
Unrealized losses	(456,838)	(489,342)
Common Stocks [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value
Greater than 12 months, fair value	216,690	445,872
Fair value	216,690	445,872
Less than 12 months, amortized cost
Greater than 12 months, amortized cost	258,568	479,801
Amortized cost	258,568	479,801
Less than 12 months, unrealized loss
Greater than 12 months, unrealized loss	(41,878)	(33,929)
Unrealized losses	(41,878)	(33,929)
Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	1,917,159	2,328,345
Greater than 12 months, fair value
Fair value	1,917,159
Less than 12 months, amortized cost	1,965,197	2,460,791
Greater than 12 months, amortized cost
Amortized cost	1,965,197
Less than 12 months, unrealized loss	(48,038)	(132,446)
Greater than 12 months, unrealized loss
Unrealized losses	$ (48,038)	$ (132,446)

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Securities transferred in or out of levels 1 or 2	$ 0	$ 0

Fair Value Disclosures (Summary

Fair Value Disclosures (Summary of Assets Measured at Fai Value on a recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	$ 79,704,643	$ 73,914,983
US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	1,342,762	1,241,125
MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	22,610,608	19,677,200
Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	26,984,615	28,344,907
Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	16,746,819	14,870,791
Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	67,684,804	64,134,023
Common Stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	8,355,129	6,982,547
Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	3,664,710	2,798,413
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	12,019,839	9,780,960
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	9,697,891	8,223,672
Level 1 [Member] | US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	1,342,762	1,241,125
Level 1 [Member] | MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 1 [Member] | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 1 [Member] | Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 1 [Member] | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	1,342,762	1,241,125
Level 1 [Member] | Common Stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	8,355,129	6,982,547
Level 1 [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 1 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	8,355,129	6,982,547
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	70,006,752	65,691,311
Level 2 [Member] | US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 2 [Member] | MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	22,610,608	19,677,200
Level 2 [Member] | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	26,984,615	28,344,907
Level 2 [Member] | Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	16,746,819	14,870,791
Level 2 [Member] | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	66,342,042	62,892,898
Level 2 [Member] | Common Stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 2 [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	3,664,710	2,798,413
Level 2 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	3,664,710	2,798,413
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | Common Stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Level 3 [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Mar. 17, 2017USD ($)shares	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)item
Debt Instrument [Line Items]
Corporate debt		$ 5,215,142		$ 3,786,950
Interest expense		$ 52,310		$ 41,347
Average interest rate		4.00%		5.00%
Gain (loss) on capital lease		$ 0	$ 0
Surplus Notes [Member]
Debt Instrument [Line Items]
Notes converted	$ 1,650,000
Debt converted, shares issued | shares	165,000
Debt				$ 1,850,000
Leasehold Obligation [Member]
Debt Instrument [Line Items]
Interest rate		4.70%
Capital lease, additional pledged bonds				860,969
Capital lease, pledged bonds		$ 1,808,523
Lease payments		125,494	62,111
Outstanding lease obligation		$ 1,123,759		1,227,541
Leasehold Obligation [Member] | Electronic Data Processing [Member]
Debt Instrument [Line Items]
Capital Lease, Term		48 years
Leasehold Obligation [Member] | Titled Vehicles [Member]
Debt Instrument [Line Items]
Capital Lease, Term		36 years
American Bank & Trust [Member]
Debt Instrument [Line Items]
Face amount of debt instrument		$ 3,500,000
Term of debt instrument		5 years
Interest rate		3.65%
Collateral		$ 1,500,000
Debt		3,986,018		525,619
Bofi Federal Bank B [Member]
Debt Instrument [Line Items]
Face amount of debt instrument				500,000
Bofi Federal Bank C [Member]
Debt Instrument [Line Items]
Face amount of debt instrument				$ 75,000
Bofi Federal Bank B & C [Member]
Debt Instrument [Line Items]
Interest expense		7,544	0
Face amount of debt instrument		$ 500,000
Term of debt instrument		36 months
Interest rate		4.70%
Number of debt agreements | item				2
Optional prepayment term		12 months
Debt		$ 3,986,018	0	$ 525,619
Home Office Mortgage [Member]
Debt Instrument [Line Items]
Interest expense		$ 997	3,040
Interest rate		2.60%
Debt		$ 105,365		$ 183,790
Debt maturity		Dec. 31, 2017
Revolving Line Of Credt [Member]
Debt Instrument [Line Items]
Interest expense		$ 0	$ 0
Debt maturity		Aug. 1, 2017
Maximum borrowing capacity		$ 1,750,000
Revolving Line Of Credt [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable interest rate		2.00%
Revolving Line Of Credt [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable interest rate		3.50%

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Capital lease obligation	$ 1,123,759	$ 1,227,541
Total	5,215,142	3,786,950
Surplus Notes [Member]
Debt Instrument [Line Items]
Debt		1,850,000
American Bank & Trust [Member]
Debt Instrument [Line Items]
Debt	3,986,018	525,619
Home Office Mortgage [Member]
Debt Instrument [Line Items]
Debt	$ 105,365	$ 183,790

Reinsurance (Details)

Reinsurance (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
WRITTEN
Direct	$ 12,588,591	$ 12,077,065
Reinsurance assumed	39,836	45,720
Reinsurance ceded	(1,976,230)	(1,955,964)
Net	10,652,197	10,166,821
EARNED
Direct	12,792,794	12,104,517
Reinsurance assumed	49,218	59,364
Reinsurance ceded	(2,003,906)	(1,873,119)
Net	10,838,106	10,290,762
LOSSES AND SETTLEMENT EXPENSES INCURRED
Direct	7,869,502	11,289,354
Reinsurance assumed	42,432	22,599
Reinsurance ceded	(1,312,550)	(4,932,457)
Net	$ 6,599,384	$ 6,379,496

Unpaid Losses and Settlement 37

Unpaid Losses and Settlement Expenses (Narrative) (Details)	3 Months Ended
	Mar. 31, 2017USD ($)
Unpaid Losses and Loss Adjustment Expenses [Abstract]
Individual risk	$ 500,000

Unpaid Losses and Settlement 38

Unpaid Losses and Settlement Expenses (Schedule of the Changes in the Reserves for Losses and Loss Adjustment Expense) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Unpaid losses and settlement expense - beginning of the period:
Gross	$ 52,817,254	$ 61,056,000
Less: Ceded	12,114,998	19,158,000
Net	40,702,000	41,898,000
Increase (decrease) in incurred losses and settlement expense:
Current year	6,893,000	6,504,000
Prior years	(294,000)	(125,000)
Net	6,599,384	6,379,496
Deduct: Loss and settlement expense payments for claims incurred:
Current year	1,974,000	795,000
Prior years	4,936,000	5,501,000
Total paid	6,910,000	6,296,000
Net unpaid losses and settlement expense - end of the period	40,391,000	41,981,000
Plus: Reinsurance recoverable on unpaid losses	9,472,625	19,448,000
Gross unpaid losses and settlement expense - end of the period	$ 49,863,933	$ 61,429,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Taxes [Abstract]
Effective tax rate	35.40%	39.40%
Federal tax rate	34.00%	34.00%
Capital loss carryforward	$ 0		$ 0
Operating loss carryforward	$ 0		$ 0

Income Taxes (Schedule of of Ef

Income Taxes (Schedule of of Effective Income Tax Rate Reconciliation) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Taxes [Abstract]
Provision for income taxes at the statutory federal tax rates	$ 446,729	$ 263,653
Increase (reduction) in taxes resulting from:
Dividends received deduction	(9,104)
Tax-exempt interest income	(40,338)	(43,665)
15% proration of tax exempt interest and dividends received decution	7,416	6,550
Officer life insurance, net	5,003	5,794
Nondeductible expenses	8,811	10,220
Prior year true-ups and other	46,347	62,901
Total income tax expense	$ 464,864	$ 305,453
Proration percentage	15.00%	15.00%

Employee Benefits (Details)

Employee Benefits (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 24, 2017	Dec. 31, 2016
Employee Benefits [Abstract]
Employee stock ownership plan, shares	350,000	350,000	0
Employee stock ownership plan, share purchase price	$ 10
Contributions to the ESOP, cash	$ 0
Contributions to the ESOP, shares	0
Compensation expense	$ 22,111
Shares committed to be released	1,433

Related Party (Details)

Related Party (Details)	Mar. 17, 2017USD ($)loanshares	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
John R. Klockau [Member]
Related Party Transaction [Line Items]
Number of notes held | loan	2
Fees paid to related party		$ 2,470	$ 2,585
Scott T. Burgess [Member]
Related Party Transaction [Line Items]
Fees paid to related party		841	0
Griffin Financial Group [Member]
Related Party Transaction [Line Items]
Fees paid to related party		0
Stevens & Lee [Member]
Related Party Transaction [Line Items]
Fees paid to related party		893,240	$ 17,950
Surplus Notes [Member]
Related Party Transaction [Line Items]
Notes converted	$ 1,650,000
Debt converted, shares issued | shares	165,000
Surplus Notes [Member] | John R. Klockau [Member]
Related Party Transaction [Line Items]
Notes converted	$ 1,150,000
Debt converted, shares issued | shares	115,000
Debt converted, interest payment		$ 12,975