ICC (ICCH) 10-Q 15 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 09, 2018
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, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		3,500,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)		Mar. 31, 2018	Dec. 31, 2017
Available for sale securities, at fair value
Fixed maturity securities (amortized cost - $89,877,704 at 3/31/2018 and $87,773,047 at 12/31/2017)		$ 90,042,265	$ 89,605,073
Available-for-sale		12,533,554	12,401,538
Other invested assets		139,200
Property held for investment, at cost, net of accumulated depreciation of $150,200 at 3/31/2018 and $50,948 at 12/31/2017		3,142,229	3,126,566
Cash and cash equivalents		1,523,380	6,876,519
Total investments and cash		107,380,628	112,009,696
Accrued investment income		703,801	687,453
Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $50,000 at 3/31/2018 and 12/31/2017		19,934,301	19,013,262
Ceded unearned premiums		494,023	274,972
Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2018 and 12/31/2017		9,764,338	10,029,834
Federal income taxes		1,465,640	922,405
Deferred policy acquisition costs, net		4,519,590	4,592,415
Property and equipment, at cost, net of accumulated depreciation of $4,691,231 at 3/31/2018 and $4,896,042 at 12/31/2017		3,516,809	3,503,904
Other assets		1,283,522	1,301,420
Total assets		149,062,652	152,335,361
Liabilities:
Unpaid losses and settlement expenses		51,444,103	51,074,126
Unearned premiums		27,451,191	26,555,582
Reinsurance balances payable		683,077	327,483
Corporate debt		3,491,077	4,339,208
Accrued expenses		2,471,516	4,274,002
Other liabilities		1,214,858	1,663,415
Total liabilities		86,755,822	88,233,816
Equity:
Common stock	[1]	35,000	35,000
Additional paid-in capital		32,371,876	32,333,290
Accumulated other comprehensive earnings, net of tax		(340,008)	2,227,069
Retained earnings		33,463,233	32,787,406
Less: Unearned Employee Stock Ownership Plan shares at cost	[2]	(3,223,271)	(3,281,220)
Total equity		62,306,830	64,101,545
Total liabilities and equity		149,062,652	152,335,361
Common Stock [Member]
Available for sale securities, at fair value
Available-for-sale	[3]	12,467,829	8,534,109
Preferred Stock [Member]
Available for sale securities, at fair value
Available-for-sale		$ 65,725	$ 3,867,429
[1]	Par value $0.01; authorized: 2018 - 10,000,000 shares and 2017 - 10,000,000 shares; issued: 2018 - 3,500,000 shares and 2017 - 3,500,000 shares; outstanding: 2018 - 3,177,672 and 2017 - 3,171,878 shares.
[2]	2018 -322,328 shares and 2017 - 328,122 shares
[3]	At March 31, 2018, common stock securities consist entirely of individual common stocks. At December 31, 2017, common stock consisted 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, 2018	Dec. 31, 2017
Fixed maturity securities, amortized cost	$ 89,877,704	$ 87,773,047
Equity securities, amortized cost	13,128,507	11,414,491
Property held for investment, accumulated depreciation	150,200	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	$ 4,691,231	$ 4,896,042
Common stock, par value	$ 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)	3,177,672	3,171,878
Unearned ESOP shares (in shares)	322,328	328,122
Common Stock [Member]
Equity securities, amortized cost	$ 13,061,832	$ 7,631,180
Preferred Stock [Member]
Equity securities, amortized cost	$ 66,675	$ 3,783,311

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Earnings - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Consolidated Statements of Earnings and Comprehensive Earnings [Abstract]
Net premiums earned	$ 11,296,944	$ 10,838,106
Net investment income	702,884	472,324
Net realized investment gains	1,102,130	444,781
Other income	56,678	84,258
Consolidated revenues	13,158,636	11,839,469
Losses and settlement expenses	7,995,849	6,599,384
Policy acquisition costs and other operating expenses	4,137,351	3,734,652
Interest expense on debt	48,161	52,310
General corporate expenses	136,250	139,215
Total expenses	12,317,611	10,525,561
Earnings before income taxes	841,025	1,313,908
Total income tax expense	165,198	464,864
Net earnings	675,827	849,044
Other comprehensive (loss) earnings, net of tax	(2,567,077)	54,481
Comprehensive (loss) earnings	$ (1,891,250)	$ 903,525
Basic:
Basic net earnings per share	$ 0.21	$ 0.27
Diluted:
Diluted net earnings per share	$ 0.21	$ 0.27
Weighted average number of common shares outstanding:
Basic	3,173,807	3,150,000
Diluted	3,174,234	3,150,000

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities
Net earnings	$ 675,827	$ 849,044
Adjustments to reconcile net earnings to net cash used in operating activities
Net realized investment gains	(1,102,130)	(444,781)
Depreciation	131,273	216,554
Deferred income tax	12,135	333,766
Amortization of bond premium and discount	87,514	59,521
Change in:
Accrued investment income	(16,348)	489
Premiums and reinsurance balances receivable (net)	(921,039)	(16,280)
Ceded unearned premiums	(219,051)	27,676
Reinsurance balances payable	355,594	45,178
Reinsurance balances recoverable	265,496	2,642,373
Deferred policy acquisition costs	72,825	(172,158)
Unpaid losses and settlement expenses	369,977	(2,953,321)
Unearned premiums	895,609	(213,584)
Accrued expenses	(1,802,486)	(2,339,301)
Current federal income tax	127,018	95,379
Other	(430,656)	1,151,454
Net cash used in operating activities	(1,498,442)	(717,991)
Purchases of:
Fixed maturity securities, available-for-sale	(6,227,279)	(3,870,786)
Other invested assets	(39,200)
Property held for investment	(33,703)	(220,148)
Property and equipment	(165,674)	(6,646)
Proceeds from sales, maturities and calls of:
Fixed maturity securities, available-for-sale	4,070,941	3,507,897
Property and equipment	44,536	365
Net cash used in investing activities	(3,098,100)	(1,706,246)
Cash flows from financing activities:
Net proceeds received from issuance of shares of common stock and stock-based compensation expense	96,535	29,136,900
Proceeds from loan		3,499,149
Repayments of borrowed funds	(848,132)	(2,070,957)
Net cash provided by (used in) financing activities	(751,597)	30,565,092
Net (decrease) increase in cash and cash equivalents	(5,348,139)	28,140,855
Cash and cash equivalents at beginning of year	6,876,519	4,376,847
Cash and cash equivalents at end of period	1,528,380	32,517,702
Supplemental information:
Federal income tax paid
Interest paid	80,394	52,186
Non-cash transactions:
Payable for securities purchased		3,842,037
Common Stock [Member]
Purchases of:
Equity securities, available-for-sale	(13,061,846)	(2,947,068)
Proceeds from sales, maturities and calls of:
Equity securities, available-for-sale	8,593,328	1,955,715
Preferred Stock [Member]
Purchases of:
Equity securities, available-for-sale	(140,925)	$ (125,575)
Proceeds from sales, maturities and calls of:
Equity securities, available-for-sale	$ 3,861,722

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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 Illinois Casualty Company ( 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. ; ICC Realty, LLC, a real estate services and holding company; ICC, an operating insurance company; and ICC’s two wholly-owned subsidiaries, Beverage Insurance Agency, Inc ., an inactive insurance agency; and Estrella Innovative Solutions, Inc., an outsourcing 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. On March 28, 2017, the Company’s stock began trading on the NASDAQ Capital Market under the “ICCH” ticker. The Company paid $1.0 million of underwriting fees to Griffin Financial Group, LLC. Proceeds received from the offering , net of offering costs and underwriting fees , was $28. 7 million.  Prior to the conversion on March 24, 2017, ICC Holdings, Inc . did not engage in any operations. Since the conversion, ICC Holdings, Inc’s primary assets are the outstanding equity of ICC and ICC Realty, LLC 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 conversion, ICC became 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.  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 Colorado, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Ohio, and Wisconsin and markets through independent agents. Approximately 33.3% and 35.9% of the premium is written in Illinois for the three months ended March 3 1 , 201 8 and 2017 , respectively. ICC sold all of its real estate holdings held by ICC Realty, LLC to its parent, ICC Holdings, Inc.; via the sale of all of the outstanding equity of ICC Realty, LLC to ICC Holdings, Inc. during the fourth quarter of 2017. 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 Annual Report on Form 10-K for the year ended December 31, 2017 (the “2017 10-K”) . 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 3 1, 2018 , 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 the 2017 10-K. The following are new or revised disclosures.  STOCK-BASED COMPENSATION  We have compensation plans under which stock-based awards may be granted to our employees as described in Note 8 – Employee Benefits . The Company recognizes the fair value of stock-based compensation ratably during each year through a charge to compensation expense and a corresponding entry to equity based on vesting criteria and other pertinent terms of the awards. Stock-based awards are accounted for as equity awards in instances where the awards’ vesting are linked to market, performance, or service condition. The Company granted Restricted Stock Units (RSUs) for the first time in February of 2018. Upon vesting of any outstanding RSUs, t he Company has the option to elect to pay cash or part cash and part Common Stock in lieu of delivering on shares of Common Stock for vested units. The Company’s intention is to settle vested units in Common Stock, and therefore the RSUs are accounted for as equity awards. Equity awards to employees are generally expensed based on the grant date fair value.  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 released. Dilutive earnings per share includes the effect of all potentially dilutive instruments, such as restricted stock units (RSUs), outstanding during the period.  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 2017 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, 2018 and 2017, the Company recognized no impairments. Property and equipment are summarized as follows:      As of  March 31, December 31,  2018 2017  Automobiles $ 550,736 $ 794,959  Furniture and fixtures 426,852 425,825  Computer equipment and software 3,446,480 3,404,975  Home office 3,783,972 3,774,187  Total cost 8,208,040 8,399,946  Accumulated depreciation (4,691,231) (4,896,042)  Net property and equipment $ 3,516,809 $ 3,503,904  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 21 % 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,  2018 2017  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 $ (2,147,336) $ 450,942 $ (1,696,394) $ 527,327 $ (179,291) $ 348,036  Reclassification adjustment for (gains) losses included in net earnings (1,102,130) 231,447 (870,683) (444,781) 151,226 (293,555)  Total other comprehensive (loss) earnings $ (3,249,466) $ 682,389 $ (2,567,077) $ 82,546 $ (28,065) $ 54,481   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 2018 2017 where Net Earnings is Presented  Unrealized gains (losses) on AFS investments:  $ (1,102,130) $ (444,781) Net realized investment gains  231,447 151,226 Income tax expense  Total reclassification adjustment, net of tax $ (870,683) $ (293,555)

Investments

Investments	3 Months Ended
	Mar. 31, 2018
Investments [Abstract]
Investments	2. INVESTMENTS  The Company’s investments are primarily composed of fixed income debt securities and common and preferred stock equity securities. All of the Company’s fixed maturity debt and equity 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 using 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.  Fixed Income Securities - Available-for-Sale  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 3 1, 2018 and 201 7 .      For the Three-Months Ended March 31,  Net realized  Proceeds Gains Losses gain  2018  Fixed maturity securities $ 4,070,941 $ 48,118 $ (13,031) $ 35,087  Common stocks 8,593,328 1,086,389 (24,254) 1,062,135  Preferred stocks 3,861,722 86,862 (81,954) 4,908  2017  Fixed maturity securities $ 3,507,897 $ 29,328 $ (18) $ 29,310  Common stocks 1,955,715 415,471 — 415,471  Preferred stocks — — — —    The amortized cost and estimated fair value of fixed income securities at March 31 , 201 8 , by contractual maturity, are shown as follows:      Amortized Cost Fair Value  Due in one year or less $ 1,061,657 $ 1,061,993  Due after one year through five years 23,542,852 23,690,082  Due after five years through 10 years 11,577,116 11,742,908  Due after 10 years 18,429,974 18,767,338  Asset and mortgage backed securities without a specific due date 35,266,105 34,779,944  Total fixed maturity securities $ 89,877,704 $ 90,042,265  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 3 1 , 201 8 and December 31, 201 7 :       Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2018  Fixed maturity securities:  U.S. treasury $ 1,347,174 $ 1,324,026 $ — $ (23,148)  MBS/ABS/CMBS 35,266,105 34,779,944 76,938 (563,099)  Corporate 31,493,585 31,717,913 518,918 (294,590)  Municipal 21,770,840 22,220,382 523,709 (74,167)  Total fixed maturity securities 89,877,704 90,042,265 1,119,565 (955,004)  Equity securities:  Common stocks 13,061,832 12,467,829 210,297 (804,300)  Preferred stocks 66,675 65,725 — (950)  Total equity securities 13,128,507 12,533,554 210,297 (805,250)  Total AFS securities $ 103,006,211 $ 102,575,819 $ 1,329,862 $ (1,760,254)      Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2017  Fixed maturity securities:  U.S. treasury $ 1,346,712 $ 1,333,725 $ — $ (12,987)  MBS/ABS/CMBS 31,584,141 31,518,662 158,944 (224,423)  Corporate 31,038,526 31,989,174 1,001,906 (51,258)  Municipal 23,803,668 24,763,512 976,872 (17,028)  Total fixed maturity securities 87,773,047 89,605,073 2,137,722 (305,696)  Equity securities:  Common stocks 7,631,180 8,534,109 920,629 (17,700)  Preferred stocks 3,783,311 3,867,429 132,054 (47,936)  Total equity securities 11,414,491 12,401,538 1,052,683 (65,636)  Total AFS securities $ 99,187,538 $ 102,006,611 $ 3,190,405 $ (371,332)  All of the Company’s collaterized securities carry an average credit rating of AA+ by one or more major rating agency and continue to pay according to contractual terms. Included within MBS/ABS/CMBS, as defined in Note 3 – Fair Value Disclosures, are residential mortgage backed securities with fair values of $12,972,672 and $13,517,725 and commercial mortgage backed securities of $9,303,457 and $8,469,852 at March 3 1 , 201 8 and December 31, 2017 , 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 3 1 , 201 8 , and December 31, 201 7 . 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, 2018 December 31, 2017  12 Months 12 Months  < 12 Months & Greater Total < 12 Months & Greater Total  U.S. Treasury  Fair value $ 1,031,187 $ 292,839 $ 1,324,026 $ 1,038,297 $ 295,428 $ 1,333,725  Cost or Amortized cost 1,046,989 300,185 1,347,174 1,046,508 300,204 1,346,712  Unrealized Loss (15,802) (7,346) (23,148) (8,211) (4,776) (12,987)   MBS/ABS/CMBS  Fair value 14,678,987 7,002,941 21,681,928 9,754,119 7,445,071 17,199,190  Cost or Amortized cost 14,899,042 7,345,985 22,245,027 9,778,528 7,645,085 17,423,613  Unrealized Loss (220,055) (343,044) (563,099) (24,409) (200,014) (224,423)   Corporate  Fair value 14,186,545 1,257,693 15,444,238 5,583,942 2,023,856 7,607,798  Cost or Amortized cost 14,439,695 1,299,133 15,738,828 5,610,093 2,048,963 7,659,056  Unrealized Loss (253,150) (41,440) (294,590) (26,151) (25,107) (51,258)   Municipal  Fair value 4,515,983 844,120 5,360,103 478,019 1,171,520 1,649,539  Cost or Amortized cost 4,554,901 879,369 5,434,270 479,904 1,186,663 1,666,567  Unrealized Loss (38,918) (35,249) (74,167) (1,885) (15,143) (17,028)   Subtotal, fixed income  Fair value 34,412,702 9,397,593 43,810,295 16,854,377 10,935,875 27,790,252  Cost or Amortized cost 34,940,627 9,824,672 44,765,299 16,915,033 11,180,915 28,095,948  Unrealized Loss (527,925) (427,079) (955,004) (60,656) (245,040) (305,696)   Common Stock  Fair value 8,992,040 — 8,992,040 637,100 — 637,100  Cost or Amortized cost 9,796,340 — 9,796,340 654,800 — 654,800  Unrealized Loss (804,300) — (804,300) (17,700) — (17,700)   Preferred Stock  Fair value 65,725 — 65,725 842,530 520,710 1,363,240  Cost or Amortized cost 66,675 — 66,675 870,755 540,421 1,411,176  Unrealized Loss (950) — (950) (28,225) (19,711) (47,936)   Total  Fair value 43,470,467 9,397,593 52,868,060 18,334,007 11,456,585 29,790,592  Cost or amortized cost 44,803,642 9,824,672 54,628,314 18,440,588 11,721,336 30,161,924  Unrealized Loss $ (1,333,175) $ (427,079) $ (1,760,254) $ (106,581) $ (264,751) $ (371,332)  As of March 31 , 201 8 , the Company held 204 common stock and preferred stock securities in an unrealized loss position. Of these 204 securiti es, none have been in an unrealized loss position for 12 consecutive months or longer . As of December 31, 2017 , the Company held 13 equity securities that were in unrea lized loss positions. Of these 1 3 securities, five were in an unrealized loss position for 12 consecutive months or longer and represented $19,711 in unrealized losses.  The fixed income portfolio contained 110 securities in an unrealized loss position as of March 3 1 , 2018. Of these 110 securities, 26 have been in an unrealized loss position for 12 consecutive months or longer and represent $427,079 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. The securities in an unrealized loss position were not other-than-temporarily impaired at March 31, 2018 and December 31, 2017.  Other Invested Assets  Other invested assets include privately held investments, including membership in the Federal Home Loan Bank of Chicago (FHLBC), which occurred in February 2018 . Our investment in FHLBC stock is carried at cost. Due to the nature of our membership in the FHLBC, its carrying amount approximates fair value. As of March 31, 2018, there were no investments pledged as collateral with the FHLBC. There may be investments pledged as collateral with the FHLBC to ensure timely access to the secured lending facility that ownership of FHLBC stock provides. As of and during the three month period ending March 31, 2018, there were no outstanding borrowings with the FHLBC.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2018
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) and 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 , the surplus 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.  Assets measured at fair value on a recurring basis as of March 3 1 , 201 8 , 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 $ 1,324,026 $ — $ — $ 1,324,026  MBS/ABS/CMBS — 34,779,944 — 34,779,944  Corporate — 31,717,913 — 31,717,913  Municipal — 22,220,382 — 22,220,382  Total fixed maturity securities 1,324,026 88,718,239 — 90,042,265  Equity securities  Common stocks 12,467,829 — — 12,467,829  Preferred stocks — 65,725 — 65,725  Total equity securities 12,467,829 65,725 — 12,533,554  Total AFS securities $ 13,791,855 $ 88,783,964 $ — $ 102,575,819  Assets measured at fair value on a recurri ng basis as of December 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 $ 1,333,725 $ — $ — $ 1,333,725  MBS/ABS/CMBS — 31,518,662 — 31,518,662  Corporate — 31,989,174 — 31,989,174  Municipal — 24,763,512 — 24,763,512  Total fixed maturity securities 1,333,725 88,271,348 — 89,605,073  Equity securities  Common stocks 8,534,109 — — 8,534,109  Preferred stocks — 3,867,429 — 3,867,429  Total equity securities 8,534,109 3,867,429 — 12,401,538  Total AFS securities $ 9,867,834 $ 92,138,777 $ — $ 102,006,611  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 3 1 , 201 8 , and December 31, 201 7 . Additionally, there were no securities transferred in or out of Levels 1 or 2 during the three -month period s ended March 3 1 , 201 8 and 201 7 .

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt [Abstract]
Debt	4. DEBT  As of March 3 1, 2018 and December 31, 201 7 , outstanding debt balances totaled $3,491,077 and $4,339,208 , respectively. The average rate on remaining debt was 3.7 % as of March 31, 2018 , compared to 3.9% as of December 31, 2017 .  Long-term debt consists of the following as of the periods referenced below:      March 31, December 31,  2018 2017  Capital lease obligation $ — $ 805,013  Debt obligation 3,491,077 3,534,195  Total $ 3,491,077 $ 4,339,208  Leasehold Obligation  The Company entered into a sale leaseback arrangement in 2016 that was 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 ed 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 bonds totaling $923,563 and $923,766 as of March 31, 2018 and December 31, 201 7 . There was no gain or loss recognized as part of this transaction. On March 2, 2018 and March 7, 2018, the Company paid $404,928 and $346,000 , respectively to Bofi. These disbursements were made to pay off the balances of the sale leaseback arrangements. Lease payments totaled $70,051 and $125,494 for the three months ended March 31, 2018 and 2017, respectively. The outstanding lease obligation was $805,013 at December 31, 201 7 .  Debt Obligation  ICC Holdings, Inc. secured a loan with American Bank & Trust in March 2017 in the amount of $3,500,000 and used the proceeds to repay ICC for the money borrowed by the ESOP. 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 were 36 months, but the Company had the option to prepay the $500,000 loan after 12 months. The Company paid off the remaining balance of the $500,000 loan in September 2017. The $75,000 loan was paid off in March of 2018. The total balance of the debt agreements at March 3 1, 2018 and December 31, 2017 was $3,491,077 and $3,534,195 , 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 initially entered into during 2013 and is renewed annually with a current expiration of August 1, 2018 . The line of credit is priced at 30 day LIBOR plus 2% with a floor of 3.5% . In order to secure the lowest rate possible, the Company pledged marketable securities not to exceed $5.0 million in the event the Company draws down on the line of credit. There was no interest paid on the line of credit during the three months ended March 3 1, 2018 and no interest paid on the line of credit during the three months ended March 31, 2017 . There are no financial covenants governing this agreement.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2018
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,  2018 2017  WRITTEN  Direct $ 14,387,670 $ 12,588,591  Reinsurance assumed 52,806 39,836  Reinsurance ceded (2,466,973) (1,976,230)  Net $ 11,973,502 $ 10,652,197  EARNED  Direct $ 13,487,121 $ 12,792,794  Reinsurance assumed 57,745 49,218  Reinsurance ceded (2,247,922) (2,003,906)  Net $ 11,296,944 $ 10,838,106  LOSS AND SETTLEMENT EXPENSES INCURRED  Direct $ 9,545,940 $ 7,869,502  Reinsurance assumed 36,131 42,432  Reinsurance ceded (1,586,222) (1,312,550)  Net $ 7,995,849 $ 6,599,384  

Unpaid Losses and Settlement Ex

Unpaid Losses and Settlement Expenses	3 Months Ended
	Mar. 31, 2018
Unpaid Losses and Settlement Expenses [Abstract]
Unpaid Losses and Settlement Expenses	6. UNPAID LOSSES AND SETTLEMENT EXPENSES  The following table is a reconciliation of the Company’s unpaid losses and settlement expenses:      For the Three-Months Ended  March 31,  (In thousands) 2018 2017  Unpaid losses and settlement expense - beginning of the period:  Gross $ 51,074 $ 52,817  Less: Ceded 10,030 12,115  Net 41,044 40,702  Increase (decrease) in incurred losses and settlement expense:  Current year 6,767 6,893  Prior years 1,229 (294)  Total incurred 7,996 6,599  Deduct: Loss and settlement expense payments for claims incurred:  Current year 1,669 1,974  Prior years 5,691 4,936  Total paid 7,360 6,910  Net unpaid losses and settlement expense - end of the period 41,680 40,391  Plus: Reinsurance recoverable on unpaid losses 9,764 9,473  Gross unpaid losses and settlement expense - end of the period $ 51,444 $ 49,864

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Income Taxes	7. INCOME TAXES  The Company’s effective tax rate for the three month period ended March 3 1, 2018 , was 19.6% , compared to 35.4% for the same period in 201 7 . Effective rates are dependent upon components of pretax earnings and the related tax effects.  The Tax Cuts and Jobs Act of 2017 (the Tax Act) lowered the federal corporate tax rate to 21 percent effective January 1, 2018. I ncome tax expense for the three -month periods ended March 3 1, 2018 and 2017 , differed from the amounts computed by applying the U.S. federal tax rate of 21 % and 34% , respectively, to pretax income from continuing operations as demonstrated in the following tables:      For the Three-Months Ended  March 31,  2018 2017  Provision for income taxes at the statutory federal tax rates $ 176,615 $ 446,729  Increase (reduction) in taxes resulting from:  Dividends received deduction (8,951) (9,104)  Tax-exempt interest income (36,323) (40,338)  15% proration of tax exempt interest and dividends received deduction 11,079 7,416  Officer life insurance, net 3,229 5,003  Nondeductible expenses 14,423 8,811  Prior year true-up and other 5,126 46,347  Total $ 165,198 $ 464,864    The Company had historically recorded its deferred tax assets and liabilities using the statutory federal tax rate of 34%. As a result, the Company revalued deferred tax items as of December 31, 2017 to reflect the lower rate. 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, management believes that when these deferred items reverse in future years, taxable income will be taxed at an effective rate of 21 %.  As of March 3 1 , 201 8 and December 31, 2017 , the Company does not have any capital or operating loss carryforwards. Periods still subject to Internal Revenue Service (IRS) audit include 201 4 through current year. There are currently no open tax exams.

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2018
Employee Benefits [Abstract]
Employee Benefits	8. EMPLOYEE BENEFITS  ESOP  In connection with our conversion and public offering, we establish ed 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 receives to repay the loan. When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorded. No contributions to the ESOP were made during the three months ended March 31, 2018 and 2017, respectively .  A compensation expense charge is booked monthly during each year for the shares committed to be allocated to partic i pants 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 reco gnized. For the three months ended March 3 1 , 201 8 , we recognized compensation expense of $95,241 related to 5,795 shares of our common stock that are committed to be released to parti ci pant s’ accounts at December 31, 2018 . Of the 5,795 shares committed to be released, 1,996 shares were commi t ted on March 31 , 201 8 and had no impact on the weighted average common shares outstanding for the three months ended March 31, 2018 . 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 participants’ accounts at December 31, 2017. The commitment 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.  RESTRICTED STOCK UNITS  RSUs were granted for the first time in February 2018. RSUs have a grant date value equal to the closing price of the Company’s stock on the dates the shares are granted. The RSUs vest 1/3 over three years from the date of grant.  As of March 31, 2018, 11,700 RSUs have been granted at a fair market value of $15.10 . We recognized $6,292 of expense on these units in the first quarter of 2018. Total unrecognized compensation expense relating to outstanding and unvested RSUs was $170,338 , which will be recognized over the remainder of the three -year vesting period. 

Related Party

Related Party	3 Months Ended
	Mar. 31, 2018
Related Party [Abstract]
Related Party	9 . RELATED PARTY  Mr. John R. Klockau, a director of the Company, held two surplus notes 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 $3,180 and $2,470 as of March 3 1 , 201 8 and 201 7 , respectively, related to his services to the Company.  Mr. Kevin Clinton is a director of the Company and owns more than 10% of the Company’s outstanding shares of common stock. Mr. Clinton was paid $0 and $420 as of March 31, 2018 and 2017, respectively for travel reimbursement costs.  Mr. Scott T. Burgess is a director of the Company and a Senior Managing Director of Griffin Financial Group (Griffin). Mr. Burgess was paid $566 , and $841 as of March 3 1 , 201 8 and 201 7 , respectively. Griffin was paid $0 and $893,240 as of March 3 1, 2018 and 201 7 , respectively. Griffin and Stevens & Lee are affiliated. Stevens & Lee is a full-service law firm that was paid $42,796 and $0 as of March 3 1, 2018 and 201 7 , respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	1 0 . SUBSEQUENT EVENTS  Subsequent events have been evaluated through the date the financial statements were issued.  As a result of paying off the leasehold obligations during the first quarter of 2018, the bonds pledged as collateral related to this debt were released in April 2018.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Description of Business	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 Illinois Casualty Company ( 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. ; ICC Realty, LLC, a real estate services and holding company; ICC, an operating insurance company; and ICC’s two wholly-owned subsidiaries, Beverage Insurance Agency, Inc ., an inactive insurance agency; and Estrella Innovative Solutions, Inc., an outsourcing 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. On March 28, 2017, the Company’s stock began trading on the NASDAQ Capital Market under the “ICCH” ticker. The Company paid $1.0 million of underwriting fees to Griffin Financial Group, LLC. Proceeds received from the offering , net of offering costs and underwriting fees , was $28. 7 million.  Prior to the conversion on March 24, 2017, ICC Holdings, Inc . did not engage in any operations. Since the conversion, ICC Holdings, Inc’s primary assets are the outstanding equity of ICC and ICC Realty, LLC 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 conversion, ICC became 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.  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 Colorado, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Ohio, and Wisconsin and markets through independent agents. Approximately 33.3% and 35.9% of the premium is written in Illinois for the three months ended March 3 1 , 201 8 and 2017 , respectively. ICC sold all of its real estate holdings held by ICC Realty, LLC to its parent, ICC Holdings, Inc.; via the sale of all of the outstanding equity of ICC Realty, LLC to ICC Holdings, Inc. during the fourth quarter of 2017. The Company operates as a single segment.
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 Annual Report on Form 10-K for the year ended December 31, 2017 (the “2017 10-K”) . 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 3 1, 2018 , 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.
Significant Accountnig Policies	C. SIGNIFICANT ACCOUNTING POLICIES  The Company reported significant accounting policies in the 2017 10-K. The following are new or revised disclosures.  STOCK-BASED COMPENSATION  We have compensation plans under which stock-based awards may be granted to our employees as described in Note 8 – Employee Benefits . The Company recognizes the fair value of stock-based compensation ratably during each year through a charge to compensation expense and a corresponding entry to equity based on vesting criteria and other pertinent terms of the awards. Stock-based awards are accounted for as equity awards in instances where the awards’ vesting are linked to market, performance, or service condition. The Company granted Restricted Stock Units (RSUs) for the first time in February of 2018. Upon vesting of any outstanding RSUs, t he Company has the option to elect to pay cash or part cash and part Common Stock in lieu of delivering on shares of Common Stock for vested units. The Company’s intention is to settle vested units in Common Stock, and therefore the RSUs are accounted for as equity awards. Equity awards to employees are generally expensed based on the grant date fair value.  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 released. Dilutive earnings per share includes the effect of all potentially dilutive instruments, such as restricted stock units (RSUs), outstanding during the period.
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 2017 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, 2018 and 2017, the Company recognized no impairments. Property and equipment are summarized as follows:      As of  March 31, December 31,  2018 2017  Automobiles $ 550,736 $ 794,959  Furniture and fixtures 426,852 425,825  Computer equipment and software 3,446,480 3,404,975  Home office 3,783,972 3,774,187  Total cost 8,208,040 8,399,946  Accumulated depreciation (4,691,231) (4,896,042)  Net property and equipment $ 3,516,809 $ 3,503,904 
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 21 % 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,  2018 2017  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 $ (2,147,336) $ 450,942 $ (1,696,394) $ 527,327 $ (179,291) $ 348,036  Reclassification adjustment for (gains) losses included in net earnings (1,102,130) 231,447 (870,683) (444,781) 151,226 (293,555)  Total other comprehensive (loss) earnings $ (3,249,466) $ 682,389 $ (2,567,077) $ 82,546 $ (28,065) $ 54,481   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 2018 2017 where Net Earnings is Presented  Unrealized gains (losses) on AFS investments:  $ (1,102,130) $ (444,781) Net realized investment gains  231,447 151,226 Income tax expense  Total reclassification adjustment, net of tax $ (870,683) $ (293,555) 

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Summary of Property, Plant and Equipment	   As of  March 31, December 31,  2018 2017  Automobiles $ 550,736 $ 794,959  Furniture and fixtures 426,852 425,825  Computer equipment and software 3,446,480 3,404,975  Home office 3,783,972 3,774,187  Total cost 8,208,040 8,399,946  Accumulated depreciation (4,691,231) (4,896,042)  Net property and equipment $ 3,516,809 $ 3,503,904 
Summary of Components of Other Comprehensive Earnings	    Three-Month Periods Ended March 31,  2018 2017  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 $ (2,147,336) $ 450,942 $ (1,696,394) $ 527,327 $ (179,291) $ 348,036  Reclassification adjustment for (gains) losses included in net earnings (1,102,130) 231,447 (870,683) (444,781) 151,226 (293,555)  Total other comprehensive (loss) earnings $ (3,249,466) $ 682,389 $ (2,567,077) $ 82,546 $ (28,065) $ 54,481 
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 2018 2017 where Net Earnings is Presented  Unrealized gains (losses) on AFS investments:  $ (1,102,130) $ (444,781) Net realized investment gains  231,447 151,226 Income tax expense  Total reclassification adjustment, net of tax $ (870,683) $ (293,555) 

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Investments [Abstract]
Summary of Recognized Impairments, Proceeds, Maturities and Calls of Available-for-Sale Securities	   For the Three-Months Ended March 31,  Net realized  Proceeds Gains Losses gain  2018  Fixed maturity securities $ 4,070,941 $ 48,118 $ (13,031) $ 35,087  Common stocks 8,593,328 1,086,389 (24,254) 1,062,135  Preferred stocks 3,861,722 86,862 (81,954) 4,908  2017  Fixed maturity securities $ 3,507,897 $ 29,328 $ (18) $ 29,310  Common stocks 1,955,715 415,471 — 415,471  Preferred stocks — — — — 
Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity	   Amortized Cost Fair Value  Due in one year or less $ 1,061,657 $ 1,061,993  Due after one year through five years 23,542,852 23,690,082  Due after five years through 10 years 11,577,116 11,742,908  Due after 10 years 18,429,974 18,767,338  Asset and mortgage backed securities without a specific due date 35,266,105 34,779,944  Total fixed maturity securities $ 89,877,704 $ 90,042,265 
Schedule of Cost or Amortized Cost and Estimated Fair Values of Investments	     Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2018  Fixed maturity securities:  U.S. treasury $ 1,347,174 $ 1,324,026 $ — $ (23,148)  MBS/ABS/CMBS 35,266,105 34,779,944 76,938 (563,099)  Corporate 31,493,585 31,717,913 518,918 (294,590)  Municipal 21,770,840 22,220,382 523,709 (74,167)  Total fixed maturity securities 89,877,704 90,042,265 1,119,565 (955,004)  Equity securities:  Common stocks 13,061,832 12,467,829 210,297 (804,300)  Preferred stocks 66,675 65,725 — (950)  Total equity securities 13,128,507 12,533,554 210,297 (805,250)  Total AFS securities $ 103,006,211 $ 102,575,819 $ 1,329,862 $ (1,760,254)      Cost or Gross Unrealized  Amortized Cost Fair Value Gains Losses  2017  Fixed maturity securities:  U.S. treasury $ 1,346,712 $ 1,333,725 $ — $ (12,987)  MBS/ABS/CMBS 31,584,141 31,518,662 158,944 (224,423)  Corporate 31,038,526 31,989,174 1,001,906 (51,258)  Municipal 23,803,668 24,763,512 976,872 (17,028)  Total fixed maturity securities 87,773,047 89,605,073 2,137,722 (305,696)  Equity securities:  Common stocks 7,631,180 8,534,109 920,629 (17,700)  Preferred stocks 3,783,311 3,867,429 132,054 (47,936)  Total equity securities 11,414,491 12,401,538 1,052,683 (65,636)  Total AFS securities $ 99,187,538 $ 102,006,611 $ 3,190,405 $ (371,332) 
Summary of Impairment Analysis and Value of Securities in an Unrealized Loss Position	   March 31, 2018 December 31, 2017  12 Months 12 Months  < 12 Months & Greater Total < 12 Months & Greater Total  U.S. Treasury  Fair value $ 1,031,187 $ 292,839 $ 1,324,026 $ 1,038,297 $ 295,428 $ 1,333,725  Cost or Amortized cost 1,046,989 300,185 1,347,174 1,046,508 300,204 1,346,712  Unrealized Loss (15,802) (7,346) (23,148) (8,211) (4,776) (12,987)   MBS/ABS/CMBS  Fair value 14,678,987 7,002,941 21,681,928 9,754,119 7,445,071 17,199,190  Cost or Amortized cost 14,899,042 7,345,985 22,245,027 9,778,528 7,645,085 17,423,613  Unrealized Loss (220,055) (343,044) (563,099) (24,409) (200,014) (224,423)   Corporate  Fair value 14,186,545 1,257,693 15,444,238 5,583,942 2,023,856 7,607,798  Cost or Amortized cost 14,439,695 1,299,133 15,738,828 5,610,093 2,048,963 7,659,056  Unrealized Loss (253,150) (41,440) (294,590) (26,151) (25,107) (51,258)   Municipal  Fair value 4,515,983 844,120 5,360,103 478,019 1,171,520 1,649,539  Cost or Amortized cost 4,554,901 879,369 5,434,270 479,904 1,186,663 1,666,567  Unrealized Loss (38,918) (35,249) (74,167) (1,885) (15,143) (17,028)   Subtotal, fixed income  Fair value 34,412,702 9,397,593 43,810,295 16,854,377 10,935,875 27,790,252  Cost or Amortized cost 34,940,627 9,824,672 44,765,299 16,915,033 11,180,915 28,095,948  Unrealized Loss (527,925) (427,079) (955,004) (60,656) (245,040) (305,696)   Common Stock  Fair value 8,992,040 — 8,992,040 637,100 — 637,100  Cost or Amortized cost 9,796,340 — 9,796,340 654,800 — 654,800  Unrealized Loss (804,300) — (804,300) (17,700) — (17,700)   Preferred Stock  Fair value 65,725 — 65,725 842,530 520,710 1,363,240  Cost or Amortized cost 66,675 — 66,675 870,755 540,421 1,411,176  Unrealized Loss (950) — (950) (28,225) (19,711) (47,936)   Total  Fair value 43,470,467 9,397,593 52,868,060 18,334,007 11,456,585 29,790,592  Cost or amortized cost 44,803,642 9,824,672 54,628,314 18,440,588 11,721,336 30,161,924  Unrealized Loss $ (1,333,175) $ (427,079) $ (1,760,254) $ (106,581) $ (264,751) $ (371,332) 

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Summary of Assets Measured at Fai Value on a recurring Basis	Assets measured at fair value on a recurring basis as of March 3 1 , 201 8 , 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 $ 1,324,026 $ — $ — $ 1,324,026  MBS/ABS/CMBS — 34,779,944 — 34,779,944  Corporate — 31,717,913 — 31,717,913  Municipal — 22,220,382 — 22,220,382  Total fixed maturity securities 1,324,026 88,718,239 — 90,042,265  Equity securities  Common stocks 12,467,829 — — 12,467,829  Preferred stocks — 65,725 — 65,725  Total equity securities 12,467,829 65,725 — 12,533,554  Total AFS securities $ 13,791,855 $ 88,783,964 $ — $ 102,575,819  Assets measured at fair value on a recurri ng basis as of December 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 $ 1,333,725 $ — $ — $ 1,333,725  MBS/ABS/CMBS — 31,518,662 — 31,518,662  Corporate — 31,989,174 — 31,989,174  Municipal — 24,763,512 — 24,763,512  Total fixed maturity securities 1,333,725 88,271,348 — 89,605,073  Equity securities  Common stocks 8,534,109 — — 8,534,109  Preferred stocks — 3,867,429 — 3,867,429  Total equity securities 8,534,109 3,867,429 — 12,401,538  Total AFS securities $ 9,867,834 $ 92,138,777 $ — $ 102,006,611 

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt [Abstract]
Schedule of Long-Term Debt	   March 31, December 31,  2018 2017  Capital lease obligation $ — $ 805,013  Debt obligation 3,491,077 3,534,195  Total $ 3,491,077 $ 4,339,208 

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2018
Reinsurance [Abstract]
Summary of the Effects of Reinsurance	    Three-Month Periods Ended March 31,  2018 2017  WRITTEN  Direct $ 14,387,670 $ 12,588,591  Reinsurance assumed 52,806 39,836  Reinsurance ceded (2,466,973) (1,976,230)  Net $ 11,973,502 $ 10,652,197  EARNED  Direct $ 13,487,121 $ 12,792,794  Reinsurance assumed 57,745 49,218  Reinsurance ceded (2,247,922) (2,003,906)  Net $ 11,296,944 $ 10,838,106  LOSS AND SETTLEMENT EXPENSES INCURRED  Direct $ 9,545,940 $ 7,869,502  Reinsurance assumed 36,131 42,432  Reinsurance ceded (1,586,222) (1,312,550)  Net $ 7,995,849 $ 6,599,384  

Unpaid Losses and Settlement 22

Unpaid Losses and Settlement Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Unpaid Losses and Settlement Expenses [Abstract]
Schedule of the Changes in the Reserves for Losses and Loss Adjustment Expense	   For the Three-Months Ended  March 31,  (In thousands) 2018 2017  Unpaid losses and settlement expense - beginning of the period:  Gross $ 51,074 $ 52,817  Less: Ceded 10,030 12,115  Net 41,044 40,702  Increase (decrease) in incurred losses and settlement expense:  Current year 6,767 6,893  Prior years 1,229 (294)  Total incurred 7,996 6,599  Deduct: Loss and settlement expense payments for claims incurred:  Current year 1,669 1,974  Prior years 5,691 4,936  Total paid 7,360 6,910  Net unpaid losses and settlement expense - end of the period 41,680 40,391  Plus: Reinsurance recoverable on unpaid losses 9,764 9,473  Gross unpaid losses and settlement expense - end of the period $ 51,444 $ 49,864 

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	   For the Three-Months Ended  March 31,  2018 2017  Provision for income taxes at the statutory federal tax rates $ 176,615 $ 446,729  Increase (reduction) in taxes resulting from:  Dividends received deduction (8,951) (9,104)  Tax-exempt interest income (36,323) (40,338)  15% proration of tax exempt interest and dividends received deduction 11,079 7,416  Officer life insurance, net 3,229 5,003  Nondeductible expenses 14,423 8,811  Prior year true-up and other 5,126 46,347  Total $ 165,198 $ 464,864 

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Narrative) (Details)	Mar. 28, 2017USD ($)	Mar. 17, 2017USD ($)shares	Mar. 31, 2018USD ($)segmententity	Mar. 31, 2017USD ($)	Mar. 24, 2017shares
Summary Of Significant Accounting Policies [Line Items]
Number of subsidiaries | entity			2
Impairment			$ 0	$ 0
Federal tax rate			21.00%	34.00%
Income tax (benefit) expense			$ 165,198	$ 464,864
Employee stock ownership plan, shares | shares					350,000
Underwriting fees paid	$ 1,000,000
Net proceeds received from issuance of shares of common stock and stock-based compensation expense	$ 28,700,000		$ 96,535	$ 29,136,900
Operating segments | segment			1
Illinois [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk			33.30%	35.90%
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 Accoun25

Summary of Significant Accounting Policies (Summary of Property, Plant and Equipment) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total cost	$ 8,208,040	$ 8,399,946
Accumulated depreciation	(4,691,231)	(4,896,042)
Net property and equipent	3,516,809	3,503,904
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Total cost	550,736	794,959
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total cost	426,852	425,825
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Total cost	3,446,480	3,404,975
Home Office [Member]
Property, Plant and Equipment [Line Items]
Total cost	$ 3,783,972	$ 3,774,187

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Summary of Components of Other Comprehensive Earnings) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Unrealized holding (losses) gains arising during the period, Pre-tax	$ (2,147,336)	$ 527,327
Reclassification adjustment for (gains) losses included in net earnings, Pre-tax	(1,102,130)	(444,781)
Total other comprehensive (loss) earnings, Pre-tax	(3,249,466)	82,546
Unrealized holding (losses) gains arising during the period, Tax	450,942	(179,291)
Reclassification adjustment for (gains) losses included in net earnings, Tax	231,447	151,226
Total other comprehensive (loss) earnings, Tax	682,389	(28,065)
Unrealized holding (losses) gains arising during the period, After-tax	(1,696,394)	348,036
Reclassification adjustment for (gains) losses included in net earnings, After-tax	(870,683)	(293,555)
Total other comprehensive earnings	$ (2,567,077)	$ 54,481

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Schedule of Reclassification Out of Accumulated Other Comprehensive Earnings) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net realized investment gains	$ (1,102,130)	$ (444,781)
Income tax expense	165,198	464,864
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	(870,683)	(293,555)
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	(1,102,130)	(444,781)
Income tax expense	$ 231,447	$ 151,226

Investments (Narrative) (Detail

Investments (Narrative) (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)item	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)item
Schedule of Available-for-sale Securities [Line Items]
Unrealized holding (losses) gains arising during the period, Pre-tax	$ (2,147,336)	$ 527,327
Unrealized losses for 12 consecutive months or longer	427,079		$ 264,751
OTTI losses recognized in other comprehensive earnings	0		0
Securities pledged	0
FHLBC outstanding balance	0
Property held for investment, accumulated depreciation	$ 150,200		$ 50,948
Common Equity And Preferred Stock Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of securities in an unrealized loss position | item	204		13
Number of securities in an unrealized loss position for 12 consecutive months or longer | item	0		5
Unrealized losses for 12 consecutive months or longer			$ 19,711
Common Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses for 12 consecutive months or longer
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of securities in an unrealized loss position | item	110
Number of securities in an unrealized loss position for 12 consecutive months or longer | item	26
Unrealized losses for 12 consecutive months or longer	$ 427,079		245,040
MBS/ABS/CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses for 12 consecutive months or longer	343,044		200,014
MBS/ABS/CMBS [Member] | Residential Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	12,972,672		13,517,725
MBS/ABS/CMBS [Member] | Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value	9,303,457		$ 8,469,852
Significant Unobservable Inputs (Level 3)
Schedule of Available-for-sale Securities [Line Items]
Fair value	$ 0

Investments (Summary of Recogni

Investments (Summary of Recognized Impairments) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fixed Maturity Securities [Member]
Proceeds	$ 4,070,941	$ 3,507,897
Gains	48,118	29,328
Losses	(13,031)	(18)
Net realized gain	35,087	29,310
Common Stock [Member]
Proceeds	8,593,328	1,955,715
Gains	1,086,389	415,471
Losses	(24,254)
Net realized gain	1,062,135	415,471
Preferred Stock [Member]
Proceeds	3,861,722
Gains	86,862
Losses	(81,954)
Net realized gain	$ 4,908

Investments (Summary of Amortiz

Investments (Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Investments [Abstract]
Due in one year or less, amortized cost	$ 1,061,657
Due after one year through five years, amortized cost	23,542,852
Due after five years through 10 years, amortized cost	11,577,116
Due after 10 years, amortized cost	18,429,974
Asset and mortgage backed securities without a specific due date, amortized cost	35,266,105
Fixed maturity securities, amortized cost	89,877,704	$ 87,773,047
Due in one year or less, fair value	1,061,993
Due after one year through five years, fair value	23,690,082
Due after five years through 10 years, fair value	11,742,908
Due after 10 years, fair value	18,767,338
Asset and mortgage backed securities witout a specific due date, fair value	34,779,944
Fixed maturity securities, fair value	$ 90,042,265	$ 89,605,073

Investments (Schedule of Cost o

Investments (Schedule of Cost or Amortized Cost and Estimated Fair Values of Investments) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	$ 89,877,704	$ 87,773,047
Equity securities, amortized cost	13,128,507	11,414,491
AFS securities, amortized cost	103,006,211	99,187,538
Fixed maturity securities	90,042,265	89,605,073
Equity securities	12,533,554	12,401,538
AFS securities, fair value	102,575,819	102,006,611
Fixed maturity securities, gross unrealized gains	1,119,565	2,137,722
Equity securities, gross unrealized gains	210,297	1,052,683
Total AFS securities, gross unrealized gains	1,329,862	3,190,405
Fixed maturity securities, gross unrealized losses	(955,004)	(305,696)
Equity securities, gross unrealized losses	(805,250)	(65,636)
Total AFS securities, gross unrealized losses	(1,760,254)	(371,332)
US Treasury [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	1,347,174	1,346,712
Fixed maturity securities	1,324,026	1,333,725
Fixed maturity securities, gross unrealized losses	(23,148)	(12,987)
MBS/ABS/CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	35,266,105	31,584,141
Fixed maturity securities	34,779,944	31,518,662
Fixed maturity securities, gross unrealized gains	76,938	158,944
Fixed maturity securities, gross unrealized losses	(563,099)	(224,423)
Corporate [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	31,493,585	31,038,526
Fixed maturity securities	31,717,913	31,989,174
Fixed maturity securities, gross unrealized gains	518,918	1,001,906
Fixed maturity securities, gross unrealized losses	(294,590)	(51,258)
Municipal [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed maturity securities, amortized cost	21,770,840	23,803,668
Fixed maturity securities	22,220,382	24,763,512
Fixed maturity securities, gross unrealized gains	523,709	976,872
Fixed maturity securities, gross unrealized losses	(74,167)	(17,028)
Common Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Equity securities, amortized cost	13,061,832	7,631,180
Equity securities	12,467,829	8,534,109
Equity securities, gross unrealized gains	210,297	920,629
Equity securities, gross unrealized losses	(804,300)	(17,700)
Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Equity securities, amortized cost	66,675	3,783,311
Equity securities	65,725	3,867,429
Equity securities, gross unrealized gains		132,054
Equity securities, gross unrealized losses	$ (950)	$ (47,936)

Investments (Summary of Impairm

Investments (Summary of Impairment Analysis and Value of Securities in an Unrealized Loss Position) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	$ 43,470,467	$ 18,334,007
Greater than 12 months, fair value	9,397,593	11,456,585
Fair value	52,868,060	29,790,592
Less than 12 months, Cost or Amortized cost	44,803,642	18,440,588
Greater than 12 months, Cost or Amortized cost	9,824,672	11,721,336
Cost or Amortized cost	54,628,314	30,161,924
Less than 12 months, unrealized losses	(1,333,175)	(106,581)
Greater than 12 months, unrealized losses	(427,079)	(264,751)
Unrealized losses	(1,760,254)	(371,332)
US Treasury [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	1,031,187	1,038,297
Greater than 12 months, fair value	292,839	295,428
Fair value	1,324,026	1,333,725
Less than 12 months, Cost or Amortized cost	1,046,989	1,046,508
Greater than 12 months, Cost or Amortized cost	300,185	300,204
Cost or Amortized cost	1,347,174	1,346,712
Less than 12 months, unrealized losses	(15,802)	(8,211)
Greater than 12 months, unrealized losses	(7,346)	(4,776)
Unrealized losses	(23,148)	(12,987)
MBS/ABS/CMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	14,678,987	9,754,119
Greater than 12 months, fair value	7,002,941	7,445,071
Fair value	21,681,928	17,199,190
Less than 12 months, Cost or Amortized cost	14,899,042	9,778,528
Greater than 12 months, Cost or Amortized cost	7,345,985	7,645,085
Cost or Amortized cost	22,245,027	17,423,613
Less than 12 months, unrealized losses	(220,055)	(24,409)
Greater than 12 months, unrealized losses	(343,044)	(200,014)
Unrealized losses	(563,099)	(224,423)
Corporate [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	14,186,545	5,583,942
Greater than 12 months, fair value	1,257,693	2,023,856
Fair value	15,444,238	7,607,798
Less than 12 months, Cost or Amortized cost	14,439,695	5,610,093
Greater than 12 months, Cost or Amortized cost	1,299,133	2,048,963
Cost or Amortized cost	15,738,828	7,659,056
Less than 12 months, unrealized losses	(253,150)	(26,151)
Greater than 12 months, unrealized losses	(41,440)	(25,107)
Unrealized losses	(294,590)	(51,258)
Municipal [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	4,515,983	478,019
Greater than 12 months, fair value	844,120	1,171,520
Fair value	5,360,103	1,649,539
Less than 12 months, Cost or Amortized cost	4,554,901	479,904
Greater than 12 months, Cost or Amortized cost	879,369	1,186,663
Cost or Amortized cost	5,434,270	1,666,567
Less than 12 months, unrealized losses	(38,918)	(1,885)
Greater than 12 months, unrealized losses	(35,249)	(15,143)
Unrealized losses	(74,167)	(17,028)
Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	34,412,702	16,854,377
Greater than 12 months, fair value	9,397,593	10,935,875
Fair value	43,810,295	27,790,252
Less than 12 months, Cost or Amortized cost	34,940,627	16,915,033
Greater than 12 months, Cost or Amortized cost	9,824,672	11,180,915
Cost or Amortized cost	44,765,299	28,095,948
Less than 12 months, unrealized losses	(527,925)	(60,656)
Greater than 12 months, unrealized losses	(427,079)	(245,040)
Unrealized losses	(955,004)	(305,696)
Common Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	8,992,040	637,100
Greater than 12 months, fair value
Fair value	8,992,040	637,100
Less than 12 months, Cost or Amortized cost	9,796,340	654,800
Greater than 12 months, Cost or Amortized cost
Cost or Amortized cost	9,796,340	654,800
Less than 12 months, unrealized losses	(804,300)	(17,700)
Greater than 12 months, unrealized losses
Unrealized losses	(804,300)	(17,700)
Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	65,725	842,530
Greater than 12 months, fair value		520,710
Fair value	65,725	1,363,240
Less than 12 months, Cost or Amortized cost	66,675	870,755
Greater than 12 months, Cost or Amortized cost		540,421
Cost or Amortized cost	66,675	1,411,176
Less than 12 months, unrealized losses	(950)	(28,225)
Greater than 12 months, unrealized losses		(19,711)
Unrealized losses	$ (950)	$ (47,936)

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Securities transferred from level 1 to level 2	$ 0	$ 0
Securities transferred from level 2 to level 1	$ 0	$ 0

Fair Value Disclosures (Summary

Fair Value Disclosures (Summary of Assets Measured at Fai Value on a recurring Basis) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	$ 0	$ 0
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	102,575,819	102,006,611
Fair Value, Measurements, Recurring [Member] | US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	1,324,026	1,333,725
Fair Value, Measurements, Recurring [Member] | MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	34,779,944	31,518,662
Fair Value, Measurements, Recurring [Member] | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	31,717,913	31,989,174
Fair Value, Measurements, Recurring [Member] | Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	22,220,382	24,763,512
Fair Value, Measurements, Recurring [Member] | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	90,042,265	89,605,073
Fair Value, Measurements, Recurring [Member] | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	12,467,829	8,534,109
Fair Value, Measurements, Recurring [Member] | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	65,725	3,867,429
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	12,533,554	12,401,538
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	13,791,855	9,867,834
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	1,324,026	1,333,725
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	1,324,026	1,333,725
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	12,467,829	8,534,109
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	12,467,829	8,534,109
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	88,783,964	92,138,777
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	34,779,944	31,518,662
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	31,717,913	31,989,174
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	22,220,382	24,763,512
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	88,718,239	88,271,348
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	65,725	3,867,429
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities	65,725	3,867,429
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | US Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | MBS/ABS/CMBS [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | Corporate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | Municipal [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | Fixed Maturity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AFS securities
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | 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. 07, 2018USD ($)	Mar. 02, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)item
Debt Instrument [Line Items]
Corporate debt			$ 3,491,077		$ 4,339,208
Current interest rate			3.70%		3.90%
Revolver
Debt Instrument [Line Items]
Interest expense			$ 0
Interest rate				0.00%
Debt maturity			Aug. 1, 2018
Collateral			$ 5,000,000
Maximum borrowing capacity			$ 1,750,000
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Revolver
Debt Instrument [Line Items]
Variable interest rate			2.00%
London Interbank Offered Rate (LIBOR) [Member] | Maximum | Revolver
Debt Instrument [Line Items]
Variable interest rate			3.50%
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Interest rate					4.70%
Collateral			$ 923,563		$ 923,766
Gain (loss) on capital lease			0	$ 0
Lease payments	$ 346,000	$ 404,928	$ 70,051	125,494
Outstanding lease obligation					805,013
Debt Obligation [Member]
Debt Instrument [Line Items]
Face amount of debt instrument				$ 3,500,000
Interest rate			3.65%
Debt			$ 3,491,077		3,534,195
Collateral			$ 1,500,000
Term of debt instrument			5 years
Debt Obligation [Member] | Bofi Federal Bank B [Member]
Debt Instrument [Line Items]
Face amount of debt instrument					500,000
Debt Obligation [Member] | Bofi Federal Bank C [Member]
Debt Instrument [Line Items]
Face amount of debt instrument					$ 75,000
Debt Obligation [Member] | Bofi Federal Bank B & C [Member]
Debt Instrument [Line Items]
Face amount of debt instrument			$ 500,000
Number of debt agreements | item					2
Optional prepayment term			12 months
Debt			$ 3,491,077		$ 3,534,195
Term of debt instrument			36 months

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total	$ 3,491,077	$ 4,339,208
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Capital lease obligation		805,013
Debt Obligation [Member]
Debt Instrument [Line Items]
Debt	$ 3,491,077	$ 3,534,195

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Reinsurance [Abstract]
Individual risk	$ 500,000

Reinsurance (Summary of the Eff

Reinsurance (Summary of the Effects of Reinsurance) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
WRITTEN
Direct	$ 14,387,670	$ 12,588,591
Reinsurance assumed	52,806	39,836
Reinsurance ceded	(2,466,973)	(1,976,230)
Net	11,973,502	10,652,197
EARNED
Direct	13,487,121	12,792,794
Reinsurance assumed	57,745	49,218
Reinsurance ceded	(2,247,922)	(2,003,906)
Net	11,296,944	10,838,106
LOSSES AND SETTLEMENT EXPENSES INCURRED
Direct	9,545,940	7,869,502
Reinsurance assumed	36,131	42,432
Reinsurance ceded	(1,586,222)	(1,312,550)
Net	$ 7,995,849	$ 6,599,384

Unpaid Losses and Settlement 39

Unpaid Losses and Settlement Expenses (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Unpaid losses and settlement expense - beginning of the period:
Gross	$ 51,074,126	$ 52,817,000
Less: Ceded	10,029,834	12,115,000
Net	41,044,000	40,702,000
Increase (decrease) in incurred losses and settlement expense:
Current year	6,767,000	6,893,000
Prior years	1,229,000	(294,000)
Net	7,995,849	6,599,384
Deduct: Loss and settlement expense payments for claims incurred:
Current year	1,669,000	1,974,000
Prior years	5,691,000	4,936,000
Total paid	7,360,000	6,910,000
Net unpaid losses and settlement expense - end of the period	41,680,000	40,391,000
Plus: Reinsurance recoverable on unpaid losses	9,764,338	9,473,000
Gross unpaid losses and settlement expense - end of the period	$ 51,444,103	$ 49,864,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Taxes [Abstract]
Federal tax rate	21.00%	34.00%
Effective tax rate	19.60%	35.40%
Capital loss carryforward	$ 0		$ 0
Operating loss carryforward	$ 0		$ 0

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Taxes [Abstract]
Provision for income taxes at the statutory federal tax rates	$ 176,615	$ 446,729
Increase (reduction) in taxes resulting from:
Dividends received deduction	(8,951)	(9,104)
Tax-exempt interest income	(36,323)	(40,338)
15% proration of tax exempt interest and dividends received decution	11,079	7,416
Officer life insurance, net	3,229	5,003
Nondeductible expenses	14,423	8,811
Prior year true-up and other	5,126	46,347
Total income tax expense	$ 165,198	$ 464,864

Employee Benefits (Details)

Employee Benefits (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Employee stock ownership plan, shares	350,000
Employee stock ownership plan, share purchase price	$ 10
Contributions to ESOP	$ 0	$ 0
Impact on weighted average shares outstanding		0
Restricted Stock Units (RSUs)
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shaes granted	11,700
Fair value of shares granted	$ 15.10
Share compensation expense	$ 6,292
Unrecognized compensation expense	$ 170,338
Vesting period	3 years
December 31, 2018 [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Compensation expense	$ 95,241
Shares committed to be released	5,795
March 31, 2018 [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares committed to be released	1,996
December 31, 2017 [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Compensation expense		$ 22,111
Shares committed to be released		1,433

Related Party (Details)

Related Party (Details)	Mar. 17, 2017USD ($)loanshares	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
John R. Klockau [Member]
Related Party Transaction [Line Items]
Fees paid to related party		$ 3,180	$ 2,470
Kevin Clinton [Member]
Related Party Transaction [Line Items]
Fees paid to related party		0	420
Scott T. Burgess [Member]
Related Party Transaction [Line Items]
Fees paid to related party		566	841
Griffin Financial Group [Member]
Related Party Transaction [Line Items]
Fees paid to related party		0	893,240
Stevens & Lee [Member]
Related Party Transaction [Line Items]
Fees paid to related party		$ 42,796	0
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]
Number of notes held | loan	2
Notes converted	$ 1,150,000
Debt converted, shares issued | shares	115,000
Debt converted, interest payment			$ 12,975