Hallmark Financial Services (HALL) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 05, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Entity File Number	001-11252
Entity Registrant Name	Hallmark Financial Services, Inc.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-0447375
Entity Address, Address Line One	5420 Lyndon B. Johnson Freeway, Suite 1100
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	817
Local Phone Number	348-1600
Title of 12(b) Security	Common Stock
Trading Symbol	HALL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,142,158
Entity Central Index Key	0000819913
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments:
Debt securities, available-for-sale, at fair value (amortized cost; $414,197 in 2020 and $569,498 in 2019)	$ 417,569	$ 574,279
Equity securities (cost; $25,735 in 2020 and $71,895 in 2019)	23,372	99,215
Other investments (cost; $3,763 in 2020 and $3,763 in 2019)	34	2,169
Total investments	440,975	675,663
Cash and cash equivalents	186,683	53,336
Restricted cash	17,671	1,612
Ceded unearned premiums	144,075	164,221
Premiums receivable	112,367	148,288
Accounts receivable	5,194	4,286
Receivable for securities	1,568	12,581
Reinsurance recoverable	504,472	315,466
Deferred policy acquisition costs	22,365	22,994
Goodwill	0	44,695
Intangible assets, net	1,938	5,087
Federal income tax recoverable	19,748	8,995
Deferred federal income taxes, net	8,012	2,185
Prepaid expenses	3,634	2,603
Other assets	28,805	33,262
Total assets	1,497,507	1,495,274
Liabilities:
Senior unsecured notes due 2029 (less unamortized debt issuance cost of $868 in 2020 and $942 in 2019)	49,132	49,058
Subordinated debt securities (less unamortized debt issuance cost of $808 in 2020 and $846 in 2019)	55,894	55,856
Reserves for unpaid losses and loss adjustment expenses	755,891	620,355
Unearned premiums	351,294	388,926
Reinsurance balances payable	67,346	59,274
Pension liability	1,141	1,388
Payable for securities	507	1,648
Accounts payable and other accrued expenses	40,123	55,487
Total liabilities	1,321,328	1,231,992
Commitments and contingencies (Note 19)
Stockholders' equity:
Common stock, $.18 par value, authorized 33,333,333 shares; issued 20,872,831 shares in 2020 and 2019	3,757	3,757
Additional paid-in capital	122,877	123,468
Retained earnings	74,957	160,570
Accumulated other comprehensive (loss) income	(386)	688
Treasury stock (2,730,673 shares in 2020 and 2,749,738 in 2019), at cost	(25,026)	(25,201)
Total stockholders' equity	176,179	263,282
Total liabilities and stockholders' equity	$ 1,497,507	$ 1,495,274

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt securities, available-for-sale, Amortized cost (in dollars)	$ 414,197	$ 569,498
Equity securities, available for sale, cost (in dollars)	25,735	71,895
Other investments, cost	$ 3,763	$ 3,763
Common stock, par value (in dollars per share)	$ 0.18	$ 0.18
Common stock, authorized shares	33,333,333	33,333,333
Common stock, issued shares	20,872,831	20,872,831
Treasury stock, shares	2,730,673	2,749,738
Senior unsecured notes due 2029 [Member]
Unamortized debt issuance cost (in dollars)	$ 868	$ 942
Subordinated Debt [Member]
Unamortized debt issuance cost (in dollars)	$ 808	$ 846

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Consolidated Statements of Operations [Abstract]
Gross premiums written	$ 196,464	$ 224,178	$ 581,697	$ 629,730
Ceded premiums written	(80,353)	(96,405)	(230,094)	(260,711)
Net premiums written	116,111	127,773	351,603	369,019
Change in unearned premiums	3,449	(15,274)	17,486	(50,991)
Net premiums earned	119,560	112,499	369,089	318,028
Investment income, net of expenses	2,660	5,050	10,314	15,573
Investment (losses) gains, net	(627)	(1,342)	(27,899)	17,412
Finance charges	1,316	1,778	4,488	5,309
Commission and fees	209	287	793	944
Other income	15	13	48	43
Total revenues	123,133	118,285	356,833	357,309
Losses and loss adjustment expenses	124,253	78,548	312,531	221,861
Operating expenses	34,296	31,074	93,703	87,656
Interest expense	1,273	1,386	4,061	3,879
Impairment of goodwill and other intangible assets			45,996
Amortization of intangible assets	617	617	1,851	1,851
Total expenses	160,439	111,625	458,142	315,247
(Loss) income before tax	(37,306)	6,660	(101,309)	42,062
Income tax (benefit) expense	(9,302)	1,373	(15,696)	8,721
Net (loss) income	$ (28,004)	$ 5,287	$ (85,613)	$ 33,341
Net (loss) income per share:
Basic (in dollars per share)	$ (1.54)	$ 0.29	$ (4.72)	$ 1.84
Diluted (in dollars per share)	$ (1.54)	$ 0.29	$ (4.72)	$ 1.82

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Consolidated Statements of Comprehensive Income [Abstract]
Net (loss) income	$ (28,004)	$ 5,287	$ (85,613)	$ 33,341
Other comprehensive income (loss):
Change in net actuarial gain	35	36	104	108
Tax effect on change in net actuarial gain	(8)	(8)	(22)	(23)
Unrealized holding gains arising during the period	2,706	1,777	4,149	13,010
Tax effect on unrealized holding gains arising during the period	(568)	(373)	(872)	(2,732)
Reclassification adjustment for gains included in net (loss) income	(390)	(175)	(5,612)	(4,376)
Tax effect on reclassification adjustment for gains included in net (loss) income	82	36	1,179	919
Other comprehensive income (loss), net of tax	1,857	1,293	(1,074)	6,906
Comprehensive (loss) income	$ (26,147)	$ 6,580	$ (86,687)	$ 40,247

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2018	$ 3,757	$ 123,168	$ 161,195	$ (6,660)	$ (25,928)
Acquisition of treasury stock					(1,380)
Equity based compensation		514
Shares issued under employee benefit plans					2,107
Shares issued under employee benefit plans		(587)
Net (loss) income			33,341			$ 33,341
Additional minimum pension liability, net of tax				85
Unrealized holding gains arising during period, net of tax				10,278
Reclassification adjustment for gains included in net income, net of tax				(3,457)
Ending balance at Sep. 30, 2019	3,757	123,095	194,536	246	(25,201)	296,433
Balance at Jun. 30, 2019	3,757	122,778	189,249	(1,047)	(25,201)
Equity based compensation		317
Net (loss) income			5,287			5,287
Additional minimum pension liability, net of tax				28
Unrealized holding gains arising during period, net of tax				1,404
Reclassification adjustment for gains included in net income, net of tax				(139)
Ending balance at Sep. 30, 2019	3,757	123,095	194,536	246	(25,201)	296,433
Balance at Dec. 31, 2019	3,757	123,468	160,570	688	(25,201)	263,282
Equity based compensation		(416)
Shares issued under employee benefit plans					175
Shares issued under employee benefit plans		(175)
Net (loss) income			(85,613)			(85,613)
Additional minimum pension liability, net of tax				82
Unrealized holding gains arising during period, net of tax				3,277
Reclassification adjustment for gains included in net income, net of tax				(4,433)
Ending balance at Sep. 30, 2020	3,757	122,877	74,957	(386)	(25,026)	176,179
Balance at Jun. 30, 2020	3,757	122,729	102,961	(2,243)	(25,032)
Equity based compensation		154
Shares issued under employee benefit plans					6
Shares issued under employee benefit plans		(6)
Net (loss) income			(28,004)			(28,004)
Additional minimum pension liability, net of tax				27
Unrealized holding gains arising during period, net of tax				2,138
Reclassification adjustment for gains included in net income, net of tax				(308)
Ending balance at Sep. 30, 2020	$ 3,757	$ 122,877	$ 74,957	$ (386)	$ (25,026)	$ 176,179

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss) income	$ (85,613)	$ 33,341
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:
Depreciation and amortization expense	4,257	4,001
Deferred federal income taxes (benefit) expense	(5,597)	2,596
Investment losses (gains), net	27,899	(17,412)
Share-based payments (benefit) expense	(416)	514
Impairment of goodwill and other intangibles	45,996
Change in ceded unearned premiums	20,146	(31,015)
Change in premiums receivable	35,921	(20,802)
Change in accounts receivable	(908)	(27)
Change in deferred policy acquisition costs	629	(7,613)
Change in reserves for unpaid losses and loss adjustment expenses	135,536	38,049
Change in unearned premiums	(37,632)	82,005
Change in reinsurance recoverable	(189,006)	(61,523)
Change in reinsurance balances payable	8,072	(5,529)
Change in federal income tax (recoverable) payable	(10,753)	676
Change in all other liabilities	(15,499)	677
Change in all other assets	4,073	4,962
Net cash (used in) provided by operating activities	(62,895)	22,900
Cash flows from investing activities:
Purchases of property and equipment	(1,277)	(3,688)
Purchases of investment securities	(160,410)	(184,689)
Maturities, sales and redemptions of investment securities	373,988	171,587
Net cash provided by (used in) investing activities	212,301	(16,790)
Cash flows from financing activities:
Proceeds from exercise of employee stock options		1,520
Payment of revolving credit facility		(30,000)
Payment of debt issuance costs		(979)
Proceeds from senior unsecured note offering		50,000
Purchase of treasury shares		(1,380)
Net cash provided by financing activities		19,161
Increase in cash and cash equivalents and restricted cash	149,406	25,271
Cash and cash equivalents and restricted cash at beginning of period	54,948	40,471
Cash and cash equivalents and restricted cash at end of period	$ 204,354	$ 65,742

General

General	9 Months Ended
	Sep. 30, 2020
General [Abstract]
General	1. General Hallmark Financial Services, Inc. (“Hallmark” and, together with subsidiaries, the “Company”, “we,” “us” or “our”) is an insurance holding company that, through its subsidiaries, engages in the sale of property/casualty insurance products to businesses and individuals. Our business involves marketing, distributing, underwriting and servicing our insurance products, as well as providing other insurance related services. We market, distribute, underwrite and service our property/casualty insurance products primarily through business units organized by products and distribution channel. Our business units are supported by our insurance company subsidiaries. Our Commercial Auto business unit offers primary and excess commercial vehicle insurance products and services; our E&S Casualty business unit offers primary and excess liability, excess public entity liability, E&S package and garage liability insurance products and services; our E&S Property business unit offers primary and excess commercial property insurance for both catastrophe and non-catastrophe exposures; our Professional Liability business unit offers healthcare and financial lines professional liability insurance products and services primarily for businesses, medical professionals, medical facilities and senior care facilities; and our Aerospace & Programs business unit offers general aviation and satellite launch property/casualty insurance products and services, as well as certain specialty programs. Our Commercial Accounts business unit offers package and monoline property/casualty and occupational accident insurance products. Effective June 1, 2016 we ceased marketing new or renewal occupational accident policies. Our former Workers Compensation operating unit specialized in small and middle market workers compensation business. Effective July 1, 2015, we no longer market or retain any risk on new or renewal workers compensation policies. Our Specialty Personal Lines business unit offers non-standard personal automobile and renters insurance products and services. Our insurance company subsidiaries supporting these business units are American Hallmark Insurance Company of Texas (“AHIC”), Hallmark Insurance Company (“HIC”), Hallmark Specialty Insurance Company (“HSIC”), Hallmark County Mutual Insurance Company (“HCM”), Hallmark National Insurance Company (“HNIC”) and Texas Builders Insurance Company (“TBIC”). These business units are segregated into three reportable industry segments for financial accounting purposes. The Specialty Commercial Segment includes our Commercial Auto business unit, E&S Casualty business unit, E&S Property business unit, Professional Liability business unit and Aerospace & Programs business unit. The Standard Commercial Segment consists of the Commercial Accounts business unit and the runoff from our former Workers Compensation operating unit. The Personal Segment consists solely of our Specialty Personal Lines business unit.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Basis of Presentation [Abstract]
Basis of Presentation	2. Basis of Presentation Our unaudited consolidated financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include our accounts and the accounts of our subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2019 included in our Annual Report on Form 10-K filed with the SEC. The interim financial data as of September 30, 2020 and 2019 is unaudited. However, in the opinion of management, the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The results of operations for the periods ended September 30, 2020 are not necessarily indicative of the operating results to be expected for the full year. Use of Estimates in the Preparation of the Financial Statements Our preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect our reported amounts of assets and liabilities and our disclosure of contingent assets and liabilities at the date of our consolidated financial statements, as well as our reported amounts of revenues and expenses during the reporting period. Refer to “Critical Accounting Estimates and Judgments” under Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2019 for information on accounting policies that we consider critical in preparing our consolidated financial statements. Actual results could differ materially from those estimates. Fair Value of Financial Instruments Fair value estimates are made at a point in time based on relevant market data as well as the best information available about the financial instruments. Fair value estimates for financial instruments for which no or limited observable market data is available are based on judgments regarding current economic conditions, credit and interest rate risk. These estimates involve significant uncertainties and judgments and cannot be determined with precision. As a result, such calculated fair value estimates may not be realizable in a current sale or immediate settlement of the instrument. In addition, changes in the underlying assumptions used in the fair value measurement technique, including discount rate and estimates of future cash flows, could significantly affect these fair value estimates. Cash and Cash Equivalents Restricted Cash Senior Unsecured Notes Due 2029 Subordinated Debt Securities For reinsurance balances, premiums receivable, federal income tax recoverable, other assets and other liabilities, the carrying amounts approximate fair value because of the short maturity of such financial instruments. Variable Interest Entities On June 21, 2005, we formed Hallmark Statutory Trust I (“Trust I”), an unconsolidated trust subsidiary, for the sole purpose of issuing $30.0 million in trust preferred securities. Trust I used the proceeds from the sale of these securities and our initial capital contribution to purchase $30.9 million of subordinated debt securities from Hallmark. The debt securities are the sole assets of Trust I, and the payments under the debt securities are the sole revenues of Trust I. On August 23, 2007, we formed Hallmark Statutory Trust II (“Trust II”), an unconsolidated trust subsidiary, for the sole purpose of issuing $25.0 million in trust preferred securities. Trust II used the proceeds from the sale of these securities and our initial capital contribution to purchase $25.8 million of subordinated debt securities from Hallmark. The debt securities are the sole assets of Trust II, and the payments under the debt securities are the sole revenues of Trust II. We evaluate on an ongoing basis our investments in Trust I and Trust II (collectively the “Trusts”) and have determined that we do not have a variable interest in the Trusts. Therefore, the Trusts are not included in our consolidated financial statements. We are also involved in the normal course of business with variable interest entities primarily as a passive investor in mortgage-backed securities and certain collateralized corporate bank loans issued by third-party variable interest entities. The maximum exposure to loss with respect to these investments is limited to the investment carrying values included in the consolidated balance sheets. Income Taxes We file a consolidated federal income tax return. Deferred federal income taxes reflect the future tax consequences of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end. Deferred taxes are recognized using the liability method, whereby tax rates are applied to cumulative temporary differences based on when and how they are expected to affect the tax return. Deferred tax assets and liabilities are adjusted for tax rate changes in effect for the year in which these temporary differences are expected to be recovered or settled. Adoption of New Accounting Pronouncements On August 28, 2018, the FASB issued ASU 2018-13, “Fair Value Measurement: Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement” (Topic 820), which amends ASC 820 to add, remove, and modify fair value measurement disclosure requirements. The requirements to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements have all been removed. However, the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period must be disclosed along with the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements (or other quantitative information if it is more reasonable). Finally, for investments measured at net asset value, the requirements have been modified so that the timing of liquidation and the date when restrictions from redemption might lapse are only disclosed if the investee has communicated the timing to the entity or announced the timing publicly. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. As the amendments are only disclosure related, our financial statements were not materially impacted by this update. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment” (Topic 350). ASU 2017-04 requires only a one-step quantitative impairment test, whereby a goodwill impairment loss will be measured as the excess of a reporting unit’s carrying amount over its fair value (not to exceed the total goodwill allocated to that reporting unit). It eliminates Step 2 of the current two-step goodwill impairment test, under which a goodwill impairment loss is measured by comparing the implied fair value of a reporting unit’s goodwill. The ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The adoption of this guidance did not have a material effect on the Company’s results of operations, financials position or liquidity. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. ASU 2016-02 requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Additionally, ASU 2016-02 modifies current guidance for lessors' accounting. ASU 2016-02 is effective for interim and annual reporting periods beginning on or after January 1, 2019, with early adoption permitted. During 2018, the FASB issued several amendments and targeted improvements to ease the application of the standard, including the addition of a transition approach that gives the Company the option of applying the standard at either the beginning of the earliest comparative period presented or the beginning of the period of adoption. We adopted the standard on its effective date of January 1, 2019. We also elected certain practical expedients that allow us not to reassess existing leases under the new guidance. As of September 30, 2020, $14.5 million of right-of-use assets and $16.3 million of lease liabilities for operating leases were included in the other assets and other liabilities line items of the balance sheet, respectively, as a result of the adoption of this update. Recently Issued Accounting Pronouncements In December 2019, the FASB issued updated guidance for the accounting for income taxes. The updated guidance is intended to simplify the accounting for income taxes by removing several exceptions contained in the existing guidance and amending other existing guidance to simplify several other income tax accounting matters. The updated guidance is effective for the quarter ending March 31, 2021. Early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company’s results of operations, financials position or liquidity. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments” (Topic 326). ASU 2016-13 requires organizations to estimate credit losses on certain types of financial instruments, including receivables and available-for-sale debt securities, by introducing an approach based on expected losses. The expected loss approach will require entities to incorporate considerations of historical information, current information and reasonable and supportable forecasts. As a smaller reporting company, ASU 2016-13 is effective for fiscal years of the Company beginning after December 15, 2022, including interim periods within those fiscal years. ASU 2016-13 requires a modified retrospective transition method and early adoption is permitted. We are currently evaluating the impact that the adoption of this standard will have on our financial results and disclosures, but do not anticipate that any potential impact would be material.

Acquisitions, Goodwill and Inta

Acquisitions, Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2020
Acquisitions, Goodwill and Intangible Assets [Abstract]
Acquisitions, Goodwill and Intangible Assets	3. Acquisitions, Goodwill and Intangible Assets In connection with its normal process for evaluating impairment triggering events, the Company determined that a significant decline in its market capitalization below its stockholders’ equity during the first quarter of 2020 indicated the impairment of the goodwill and indefinite-lived intangible assets included in its balance sheet. As a result, the Company took a $44.7 million charge to goodwill and a $1.3 million charge to indefinite-lived intangible assets during the first quarter of 2020. As of September 30, 2020 there is no goodwill reported on our consolidated balance sheet. ​

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2020
Fair Value [Abstract]
Fair Value	4. Fair Value ASC 820 defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value measurements. ASC 820, among other things, requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In addition, ASC 820 precludes the use of block discounts when measuring the fair value of instruments traded in an active market, which were previously applied to large holdings of publicly traded equity securities. We determine the fair value of our financial instruments based on the fair value hierarchy established in ASC 820. In accordance with ASC 820, we utilize the following fair value hierarchy: ● Level 1: quoted prices in active markets for identical assets; ● Level 2: inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, inputs of identical assets for less active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument; and ● Level 3: inputs to the valuation methodology that are unobservable for the asset or liability. This hierarchy requires the use of observable market data when available. Under ASC 820, we determine fair value based on the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. It is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy described above. Fair value measurements for assets and liabilities where there exists limited or no observable market data are calculated based upon our pricing policy, the economic and competitive environment, the characteristics of the asset or liability and other factors as appropriate. These estimated fair values may not be realized upon actual sale or immediate settlement of the asset or liability. Where quoted prices are available on active exchanges for identical instruments, investment securities are classified within Level 1 of the valuation hierarchy. Level 1 investment securities include common and preferred stock and an equity warrant classified as Other Investments. Level 2 investment securities include corporate bonds, collateralized corporate bank loans, municipal bonds, U.S. Treasury securities, other obligations of the U.S. Government and mortgage-backed securities for which quoted prices are not available on active exchanges for identical instruments. We use third-party pricing services to determine fair values for each Level 2 investment security in all asset classes. Since quoted prices in active markets for identical assets are not available, these prices are determined using observable market information such as quotes from less active markets and/or quoted prices of securities with similar characteristics, among other things. We have reviewed the processes used by the pricing services and have determined that they result in fair values consistent with the requirements of ASC 820 for Level 2 investment securities. We have not adjusted any prices received from third-party pricing sources. There were no transfers between Level 1 Level 2 In cases where there is limited activity or less transparency around inputs to the valuation, investment securities are classified within Level 3 of the valuation hierarchy. Level 3 investments are valued based on the best available data in order to approximate fair value. This data may be internally developed and consider risk premiums that a market participant would require. Investment securities classified within Level 3 include other less liquid investment securities. The following table presents, for each of the fair value hierarchy levels, assets that are measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2020 ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets ​ Other Observable ​ Unobservable ​ ​ ​ ​ (Level 1) Inputs (Level 2) Inputs (Level 3) Total U.S. Treasury securities and obligations of U.S. Government ​ $ — ​ $ 61,001 ​ $ - ​ $ 61,001 Corporate bonds ​ — ​ 239,154 ​ 325 ​ 239,479 Collateralized corporate bank loans ​ — ​ 55,334 ​ - ​ 55,334 Municipal bonds ​ — ​ 55,638 ​ - ​ 55,638 Mortgage-backed ​ — ​ 6,117 ​ - ​ 6,117 Total debt securities ​ — ​ 417,244 ​ 325 ​ 417,569 Total equity securities ​ 23,372 ​ — ​ — ​ 23,372 Total other investments ​ 34 ​ — ​ — ​ 34 Total investments ​ $ 23,406 ​ $ 417,244 ​ $ 325 ​ $ 440,975 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets ​ Other Observable ​ Unobservable ​ ​ ​ ​ (Level 1) Inputs (Level 2) Inputs (Level 3) Total U.S. Treasury securities and obligations of U.S. Government ​ $ — ​ $ 66,600 ​ $ — ​ $ 66,600 Corporate bonds ​ — ​ 300,486 ​ 339 ​ 300,825 Collateralized corporate bank loans ​ — ​ 115,757 ​ — ​ 115,757 Municipal bonds ​ — ​ 83,270 ​ — ​ 83,270 Mortgage-backed ​ — ​ 7,827 ​ — ​ 7,827 Total debt securities ​ — ​ 573,940 ​ 339 ​ 574,279 Total equity securities ​ 99,215 ​ — ​ — ​ 99,215 Total other investments ​ 2,169 ​ — ​ — ​ 2,169 Total investments ​ $ 101,384 ​ $ 573,940 ​ $ 339 ​ $ 675,663 ​ Due to significant unobservable inputs into the valuation model for one corporate bond as of September 30, 2020 and December 31, 2019, we classified this investment as Level 3 in the fair value hierarchy. The corporate bond is a convertible senior note and its fair value was estimated by the sum of the bond value using an income approach discounting the scheduled interest and principal payments and the conversion feature utilizing a binomial lattice model. We also estimated the fair value of the corporate bond utilizing an as-if converted basis into the underlying securities. Significant changes in the unobservable inputs in the fair value measurement of this corporate bond could result in a significant change in the fair value measurement. The following table summarizes the changes in fair value for all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the nine months ended September 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ Beginning balance as of January 1, 2020 $ 339 Sales ​ — Settlements ​ — Purchases ​ — Issuances ​ — Total realized/unrealized losses included in net income ​ — Net gain included in other comprehensive income ​ (14) Transfers into Level 3 ​ — Transfers out of Level 3 ​ — Ending balance as of September 30, 2020 ​ $ 325 ​ ​ ​ ​ ​ Beginning balance as of January 1, 2019 $ 291 Sales ​ — Settlements ​ — Purchases ​ — Issuances ​ — Total realized/unrealized gains included in net income ​ — Net gains included in other comprehensive income ​ 153 Transfers into Level 3 ​ — Transfers out of Level 3 ​ — Ending balance as of September 30, 2019 ​ $ 444 ​

Investments

Investments	9 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Investments	5. Investments The amortized cost and estimated fair value of investments in debt and equity securities by category is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ ​ Cost / ​ Unrealized ​ Unrealized ​ ​ ​ ​ Amortized Cost Gains Losses Fair Value As of September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities and obligations of U.S. Government ​ $ 60,332 ​ $ 671 ​ $ (2) ​ $ 61,001 Corporate bonds ​ 235,469 ​ 5,291 ​ (1,281) ​ 239,479 Collateralized corporate bank loans ​ 57,559 ​ - ​ (2,225) ​ 55,334 Municipal bonds ​ 54,837 ​ 852 ​ (51) ​ 55,638 Mortgage-backed ​ 6,000 ​ 122 ​ (5) ​ 6,117 Total debt securities ​ 414,197 ​ 6,936 ​ (3,564) ​ 417,569 Total equity securities ​ 25,735 ​ 2,989 ​ (5,352) ​ 23,372 Total other investments ​ 3,763 ​ — ​ (3,729) ​ 34 Total investments ​ $ 443,695 ​ $ 9,925 ​ $ (12,645) ​ $ 440,975 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ ​ ​ ​ ​ U.S. Treasury securities and obligations of U.S. Government ​ $ 66,441 ​ $ 162 ​ $ (3) ​ $ 66,600 Corporate bonds ​ 297,601 ​ 3,387 ​ (163) ​ 300,825 Collateralized corporate bank loans ​ 115,669 ​ 556 ​ (468) ​ 115,757 Municipal bonds ​ 81,787 ​ 1,531 ​ (48) ​ 83,270 Mortgage-backed ​ 8,000 ​ 46 ​ (219) ​ 7,827 Total debt securities ​ 569,498 ​ 5,682 ​ (901) ​ 574,279 Total equity securities ​ 71,895 ​ 35,028 ​ (7,708) ​ 99,215 Total other investments ​ 3,763 ​ — ​ (1,594) ​ 2,169 Total investments ​ $ 645,156 ​ $ 40,710 ​ $ (10,203) ​ $ 675,663 ​ Major categories of net investment gains (losses) on investments are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2020 2019 2020 2019 U.S. Treasury securities and obligations of U.S. Government ​ $ (3) ​ $ — ​ $ (3) ​ $ — ​ Corporate bonds ​ 352 ​ 154 ​ 766 ​ 171 ​ Collateralized corporate bank loans ​ 66 ​ (103) ​ (19) ​ (65) ​ Municipal bonds ​ (25) ​ 124 ​ 1,397 ​ 4,271 ​ Mortgage-backed ​ — ​ — ​ — ​ (1) ​ Equity securities ​ — ​ — ​ 3,471 ​ — ​ Gain on investments ​ 390 ​ 175 ​ 5,612 ​ 4,376 ​ Unrealized gains (losses) on equity securities ​ 937 ​ (1,941) ​ (29,683) ​ 11,175 ​ Other-than-temporary impairments ​ ​ (1,692) ​ ​ — ​ ​ (1,692) ​ ​ — ​ Unrealized (losses) gains on other investments ​ ​ (262) ​ ​ 424 ​ ​ (2,136) ​ ​ 1,861 ​ Investment (losses) gains, net ​ $ (627) ​ $ (1,342) ​ $ (27,899) ​ $ 17,412 ​ ​ We realized gross gains on investments of $0.5 million and $0.5 million during the three months ended September 30, 2020 and 2019, respectively and $22.4 million and $4.9 million for the nine months ended September 30, 2020 and 2019, respectively. We realized gross losses on investments of $0.1 million and $0.3 million for the three months ended September 30, 2020 and 2019, respectively and $16.8 million and $0.5 million for the nine months ended September 30, 2020 and 2019, respectively. We recorded proceeds from the sale of investment securities of $47.4 million and $6.0 million during the three months ended September 30, 2020 and 2019 respectively, and $155.0 million and $13.0 million for the nine months ended September 30, 2020 or 2019, respectively. Realized investment gains and losses are recognized in operations on the first in-first out method. The following schedules summarize the gross unrealized losses showing the length of time that investments have been continuously in an unrealized loss position as of September 30, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2020 ​ ​ 12 months or less ​ Longer than 12 months ​ Total ​ ​ ​ Unrealized ​ ​ Unrealized ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities and obligations of U.S. Government ​ $ 18,091 ​ $ (2) ​ $ — ​ $ — ​ $ 18,091 ​ $ (2) Corporate bonds ​ 8,982 ​ (1,035) ​ 4,071 ​ (246) ​ 13,053 ​ (1,281) Collateralized corporate bank loans ​ 49,558 ​ (1,571) ​ 5,638 ​ (654) ​ 55,196 ​ (2,225) Municipal bonds ​ 2,550 ​ (33) ​ 1,379 ​ (18) ​ 3,929 ​ (51) Mortgage-backed ​ — ​ — ​ 14 ​ (5) ​ 14 ​ (5) Total debt securities ​ 79,181 ​ (2,641) ​ 11,102 ​ (923) ​ 90,283 ​ (3,564) Total equity securities ​ 10,265 ​ (4,187) ​ ​ 1,935 ​ ​ (1,165) ​ ​ 12,200 ​ (5,352) Total other investments ​ — ​ — ​ ​ 34 ​ ​ (3,729) ​ ​ 34 ​ (3,729) Total investments ​ $ 89,446 ​ $ (6,828) ​ $ 13,071 ​ $ (5,817) ​ $ 102,517 ​ $ (12,645) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ 12 months or less ​ Longer than 12 months ​ Total ​ ​ ​ Unrealized ​ ​ Unrealized ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities and obligations of U.S. Government ​ $ — ​ $ — ​ $ 5,513 ​ $ (3) ​ $ 5,513 ​ $ (3) Corporate bonds ​ 27,268 ​ (144) ​ 1,150 ​ (19) ​ 28,418 ​ (163) Collateralized corporate bank loans ​ 9,000 ​ (41) ​ 10,228 ​ (427) ​ 19,228 ​ (468) Municipal bonds ​ 4,808 ​ (29) ​ 1,618 ​ (19) ​ 6,426 ​ (48) Mortgage-backed ​ 1,712 ​ (101) ​ 562 ​ (118) ​ 2,274 ​ (219) Total debt securities ​ 42,788 ​ (315) ​ 19,071 ​ (586) ​ 61,859 ​ (901) Total equity securities ​ 10,905 ​ (2,363) ​ 6,093 ​ (5,345) ​ 16,998 ​ (7,708) Total other investments ​ — ​ — ​ 2,169 ​ (1,594) ​ 2,169 ​ (1,594) Total investments ​ $ 53,693 ​ $ (2,678) ​ $ 27,333 ​ $ (7,525) ​ $ 81,026 ​ $ (10,203) ​ We had a total of 84 debt securities with an unrealized loss, of which 68 were in an unrealized loss position for less than one year and 16 were in an unrealized loss position for a period of one year or greater, as of September 30, 2020. We held a total of 61 debt securities with an unrealized loss, of which 41 were in an unrealized loss position for less than one year and 20 were in an unrealized loss position for a period of one year or greater, as of December 31, 2019. We consider these losses as a temporary decline in value as they are predominately on securities that we do not intend to sell and do not believe we will be required to sell prior to recovery of our amortized cost basis. The gross unrealized losses on the debt security positions at September 30, 2020 were due predominately to market and interest rate fluctuations and we see no other indications that the decline in values of these securities is other-than-temporary. Based on evidence gathered through our normal credit evaluation process, we presently expect that all debt securities held in our investment portfolio will be paid in accordance with their contractual terms. Nonetheless, it is at least reasonably possible that the performance of certain issuers of these debt securities will be worse than currently expected resulting in future write-downs within our portfolio of debt securities. Also, as a result of the challenging market conditions, we expect the volatility in the valuation of our equity securities to continue in the foreseeable future. This volatility may lead to changes regarding retention strategies for certain equity securities. We complete a detailed analysis each quarter to assess whether any decline in the fair value of any debt security below cost is deemed other-than-temporary. All debt securities with an unrealized loss are reviewed. We recognize an impairment loss when a debt security’s value declines below cost, adjusted for accretion, amortization and previous other-than-temporary impairments and it is determined that the decline is other-than-temporary. We recognized $1.7 million of other-than-temporary impairment on debt securities during the nine months ended September 30, 2020. We did not Debt Investments: We assess whether we intend to sell, or it is more likely than not that we will be required to sell, a fixed maturity investment before recovery of its amortized cost basis less any current period credit losses. For fixed maturity investments that are considered other-than-temporarily impaired and that we do not intend to sell and will not be required to sell, we separate the amount of the impairment into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the investment’s amortized cost basis and the present value of its expected future cash flows. The remaining difference between the investment’s fair value and the present value of future expected cash flows is recognized in other comprehensive income. During the nine months ended September 30, 2020 we did not dispose of any previously impaired securities. During the nine months ended September 30, 2019 we disposed of six previously impaired securities and recognized a realized gain of $4.1 million. Equity Investments: On January 1, 2018, we adopted ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825).” ASU 2016-01 requires equity investments that are not consolidated or accounted for under the equity method of accounting to be measured at fair value with changes in fair value recognized in net income each reporting period. As a result of this standard, equity securities with readily determinable fair values are not required to be evaluated for other-than-temporary-impairment. Details regarding the carrying value of the other investments portfolio as of September 30, 2020 and December 31, 2019 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Investment Type ​ ​ Equity warrant ​ $ 34 ​ $ 2,169 Total other investments ​ $ 34 ​ $ 2,169 ​ We acquired this warrant in an active market. The warrant entitles us to buy the underlying common stock of a publicly traded company at a fixed price until the expiration date of January 19, 2021. The amortized cost and estimated fair value of debt securities at September 30, 2020 by contractual maturity are as follows. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without penalties. ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Fair Value ​ ​ (in thousands) Due in one year or less ​ $ 113,961 ​ $ 115,144 Due after one year through five years ​ 248,003 ​ 250,693 Due after five years through ten years ​ 32,766 ​ 31,560 Due after ten years ​ 13,467 ​ 14,055 Mortgage-backed ​ 6,000 ​ 6,117 ​ ​ $ 414,197 ​ $ 417,569 ​

Pledged Investments

Pledged Investments	9 Months Ended
	Sep. 30, 2020
Pledged Investments [Abstract]
Pledged Investments	6. Pledged Investments We have pledged certain of our securities for the benefit of various state insurance departments and reinsurers. These securities are included with our available-for-sale debt securities because we have the ability to trade these securities. We retain the interest earned on these securities. These securities had a carrying value of $26.8 million and $28.9 million at September 30, 2020 and December 31, 2019, respectively.

Reserves for Unpaid Losses and

Reserves for Unpaid Losses and Loss Adjustment Expenses	9 Months Ended
	Sep. 30, 2020
Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]
Reserves for Unpaid Losses and Loss Adjustment Expenses	7. Reserves for Unpaid Losses and Loss Adjustment Expenses Year to-date activity in the consolidated reserves for unpaid losses and LAE is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ ​ ​ 2020 ​ 2019 ​ Balance at January 1 ​ $ 620,355 ​ $ 527,247 ​ Less reinsurance recoverable ​ 272,604 ​ 221,716 ​ Net balance at January 1 ​ 347,751 ​ 305,531 ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred related to: ​ ​ ​ Current year ​ 257,572 ​ 214,080 ​ Loss portfolio transfer ​ ​ 21,700 ​ ​ — ​ Prior years ​ 33,259 ​ 7,781 ​ Total incurred ​ 312,531 ​ 221,861 ​ ​ ​ ​ ​ ​ ​ ​ ​ Paid related to: ​ ​ ​ Current year ​ 67,146 ​ 75,834 ​ Loss portfolio transfer ​ ​ 21,700 ​ ​ — ​ Prior years ​ 177,325 ​ 146,929 ​ Total paid ​ 266,171 ​ 222,763 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net balance at September 30 ​ 394,111 ​ 304,629 ​ Plus reinsurance recoverable ​ 361,780 ​ 260,667 ​ Balance at September 30 ​ $ 755,891 ​ $ 565,296 ​ ​ The year to date impact from the unfavorable (favorable) net prior years’ loss development on each reporting segment is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ 2020 2019 Specialty Commercial Segment ​ $ 23,961 ​ $ 11,232 Standard Commercial Segment ​ 2,350 ​ (3,508) Personal Segment ​ 6,948 ​ 57 Corporate ​ — ​ — Total unfavorable net prior year development ​ $ 33,259 ​ $ 7,781 ​ The following describes the primary factors behind each segment’s prior accident year reserve development for the nine months ended September 30, 2020 and 2019: Nine months ended September 30, 2020: ● Specialty Commercial Segment. Our Commercial Auto business unit experienced net unfavorable development in the 2018 and prior accident years both in the primary and excess commercial automobile liability lines of business, partially offset by net favorable development in the excess commercial automobile lines of business in the 2019 accident year. Our E&S Casualty business unit experienced net unfavorable development primarily in our primary liability line of business and our E&S package insurance products in the 2017, 2016, 2015 and 2013 and prior accident years, partially offset by net favorable development in the 2019, 2018 and 2014 accident years. We experienced net favorable development in our E&S Property business unit, partially offset by net unfavorable development in our Aerospace & Programs and Professional Liability business units. ● Standard Commercial Segment. Our Commercial Accounts business unit experienced net unfavorable development primarily in the general liability line of business in the 2018, 2017, 2016, 2015 and 2013 and prior accident years, partially offset by net favorable development in the 2019 and 2014 accident years primarily in the general liability line of business. Our Commercial Accounts business unit experienced net favorable development in the 2016 and 2015 accident years, partially offset by net unfavorable development in the 2017 and 2014 accident years, in the occupational accident line of business. The run-off from our former Workers Compensation operating unit experienced net favorable development in the 2014 and prior accident years, partially offset by net unfavorable development in the 2015 accident year. ● Personal Segment. Net unfavorable development in our Specialty Personal Lines business unit was mostly attributable to the 2019, 2018, 2017 and 2016 accident years, partially offset by favorable development in the 2015 and prior accident years. The net development during the nine months ended September 30, 2020 was driven predominately by unfavorable development attributable to more recent treaty years where we retain a greater portion of the claims. Nine months ended September 30, 2019: ● Specialty Commercial Segment. Our Commercial Auto business unit experienced net unfavorable development in the 2017 and prior accident years primarily in the primary commercial automobile liability line of business, partially offset by net favorable development in the primary commercial automobile line of business in the 2018 accident year. Our E&S Casualty business unit experienced net unfavorable development primarily in our E&S package insurance products in the 2017 and prior accident years, partially offset by net favorable development in the 2018 accident year. We experienced net favorable development in our E&S Property and Professional Liability business units, partially offset by net unfavorable development in our Aerospace & Programs business unit. ● Standard Commercial Segment. Our Commercial Accounts business unit experienced net favorable development in the 2018, 2017, 2014 and 2012 and prior accident years primarily in the general liability line of business, partially offset by net unfavorable development primarily in the general liability line of business in the 2016 and 2015 accident years. Our Commercial Accounts business unit experienced net favorable development in the 2017 and 2015 accident years in the occupational accident line of business. The run-off from our former Workers Compensation operating unit experienced net favorable development in the 2015 and 2012 and prior accident years, partially offset by net unfavorable development in the 2014 and 2013 accident years. ● Personal Segment. Net unfavorable development in our Specialty Personal Lines business unit was mostly attributable to the 2018, 2016, 2014, 2012 and prior accident years, partially offset by favorable development in the 2017, 2015 and 2013 accident years .

Share-based Payment Arrangement

Share-based Payment Arrangements	9 Months Ended
	Sep. 30, 2020
Share-Based Payment Arrangements [Abstract]
Share-Based Payment Arrangements	8. Share-Based Payment Arrangements Our 2005 Long Term Incentive Plan (“2005 LTIP”) is a stock compensation plan for key employees and non-employee directors that was initially approved by the shareholders on May 26, 2005 and expired by its terms on May 27, 2015. As of September 30, 2020, there were no outstanding incentive stock options and outstanding non-qualified stock options to purchase 14,157 shares of our common stock. The exercise price of all such outstanding stock options is equal to the fair market value of our common stock on the date of grant. Our 2015 Long Term Incentive Plan (“2015 LTIP”) was approved by shareholders on May 29, 2015. There are 2,000,000 shares authorized for issuance under the 2015 LTIP. As of September 30, 2020, restricted stock units representing the right to receive up to 362,794 shares of our common stock were outstanding under the 2015 LTIP. There were no stock option awards granted under the 2015 LTIP as of September 30, 2020. ​ Stock Options: Non-qualified stock options granted under the 2005 LTIP generally vest 100% six months after the date of grant and terminate ten years from the date of grant. The grant of 200,000 non-qualified stock options in 2009 vested in equal annual increments on each of the first seven anniversary dates and was fully exercised prior to termination in 2019. A summary of the status of our stock options as of September 30, 2020 and changes during the nine months then ended is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ Aggregate ​ ​ Number of ​ Weighted Average ​ Contractual ​ Intrinsic Value ​ Shares Exercise Price Term (Years) ($000) Outstanding at January 1, 2020 14,157 ​ $ 6.99 ​ Granted — ​ — ​ Exercised — ​ $ — ​ Forfeited or expired — ​ $ — ​ Outstanding at September 30, 2020 14,157 ​ $ 6.99 1.3 ​ $ — Exercisable at September 30, 2020 14,157 ​ $ 6.99 1.3 ​ $ — ​ The following table details the intrinsic value of options exercised, total cost of share-based payments charged against income before income tax benefit and the amount of related income tax benefit recognized in income for the periods indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ Intrinsic value of options exercised ​ $ — ​ $ — ​ $ — ​ $ 845 ​ Cost of share-based payments (non-cash) ​ $ — ​ $ — ​ $ — ​ $ — ​ Income tax benefit of share-based payments recognized in income ​ $ — ​ $ — ​ $ — ​ $ — ​ ​ As of September 30, 2020, there was no unrecognized compensation cost related to non-vested stock options granted under our plans which is expected to be recognized in the future. The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option pricing model. Expected volatilities are based on the historical volatility of Hallmark’s and similar companies’ common stock for a period equal to the expected term. The risk-free interest rates for periods within the contractual term of the options are based on rates for U.S. Treasury Notes with maturity dates corresponding to the options expected lives on the dates of grant. Expected term is determined based on the simplified method as we do not have sufficient historical exercise data to provide a basis for estimating the expected term. There were no stock options granted during the first nine months of 2020 or 2019. Restricted Stock Units: Restricted stock units awarded under the 2015 LTIP represent the right to receive shares of common stock upon the satisfaction of vesting requirements, performance criteria and other terms and conditions. Restricted stock units vest and shares of common stock become issuable on March 31 of the third calendar year following the year of grant if performance criteria have been satisfied. The performance criteria for all restricted stock units require that we achieve certain compound average annual growth rates in book value per share as well as certain average combined ratio percentages over the vesting period in order to receive shares of common stock in amounts ranging from 50% to 150% of the number of restricted stock units granted. Grantees of restricted stock units do not have any rights of a stockholder, and do not participate in any distributions to our common stockholders, until the award fully vests upon satisfaction of the vesting schedule, performance criteria and other conditions set forth in their award agreement. Therefore, unvested restricted stock units are not considered participating securities under ASC 260, “Earnings Per Share” (Topic 260), and are not included in the calculation of basic or diluted earnings per share. Compensation cost is measured as an amount equal to the fair value of the restricted stock units on the date of grant and is expensed over the vesting period if achievement of the performance criteria is deemed probable, with the amount of the expense recognized based on our best estimate of the ultimate achievement level. The grant date fair value of restricted stock units granted in 2016, 2017, 2018 and 2019 was $11.41, $10.20, $10.87 and $18.10 per unit, respectively. We incurred compensation expense (benefit) of $154 thousand and ($416) thousand related to restricted stock units during the three months and nine months ended September 30, 2020, respectively. We incurred compensation expense of $317 thousand and $514 thousand related to restricted stock units during the three months and nine months ended September 30, 2019, respectively. We recorded income tax benefit (expense) of $32 thousand and ($88) thousand related to restricted stock units during the three months and nine months ended September 30, 2020, respectively. We recorded income tax benefit of $67 thousand and $108 thousand related to restricted stock units during the three months and nine months ended September 30, 2019, respectively. ​ The following table details the status of our restricted stock units as of and for the nine months ended September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of Restricted Stock Units ​ ​ 2020 2019 Nonvested at January 1 ​ 353,491 338,897 Granted ​ — 97,804 Vested ​ (19,065) — Forfeited ​ (92,563) (83,210) Nonvested at September 30 ​ 241,863 353,491 ​ As of September 30, 2020, there was $1.4 million of unrecognized grant date compensation cost related to unvested restricted stock units assuming compensation cost accrual at target achievement level. Based on the current performance estimate, we expect to recognize $0.4 million of compensation cost related to unvested restricted stock units, of which $0.1 million is expected to be recognized during the remainder of 2020, $0.2 million is expected to be recognized in 2021 and $0.1 million is expected to be recognized in 2022. ​ ​ ​

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Information [Abstract]
Segment Information	9. Segment Information The following is business segment information for the three and nine months ended September 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ 2020 2019 2020 2019 ​ Revenues ​ ​ ​ ​ ​ ​ Specialty Commercial Segment ​ $ 86,589 ​ $ 81,341 ​ $ 269,833 ​ $ 222,900 ​ Standard Commercial Segment ​ 17,398 ​ 16,344 ​ 52,130 ​ 52,027 ​ Personal Segment ​ 20,513 ​ 22,943 ​ 65,300 ​ 65,542 ​ Corporate ​ (1,367) ​ (2,343) ​ (30,430) ​ 16,840 ​ Consolidated ​ $ 123,133 ​ $ 118,285 ​ $ 356,833 ​ $ 357,309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pre-tax (loss) income ​ ​ ​ ​ ​ Specialty Commercial Segment ​ $ (26,751) ​ $ 14,766 ​ $ (4,577) ​ $ 33,161 ​ Standard Commercial Segment ​ (1,672) ​ 62 ​ (154) ​ 3,626 ​ Personal Segment ​ (2,065) ​ (740) ​ (5,836) ​ 3,274 ​ Corporate ​ (6,818) ​ (7,428) ​ (90,742) ​ 2,001 ​ Consolidated ​ $ (37,306) ​ $ 6,660 ​ $ (101,309) ​ $ 42,062 ​ ​ The following is additional business segment information as of the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Assets: ​ 2020 ​ 2019 Specialty Commercial Segment ​ $ 1,117,057 ​ $ 1,082,804 Standard Commercial Segment ​ 182,977 ​ 193,710 Personal Segment ​ 137,108 ​ 164,685 Corporate ​ 60,365 ​ 54,075 Consolidated ​ $ 1,497,507 ​ $ 1,495,274 ​

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2020
Reinsurance [Abstract]
Reinsurance	10. Reinsurance We reinsure a portion of the risk we underwrite in order to control the exposure to losses and to protect capital resources. We cede to reinsurers a portion of these risks and pay premiums based upon the risk and exposure of the policies subject to such reinsurance. Ceded reinsurance involves credit risk and is generally subject to aggregate loss limits. Although the reinsurer is liable to us to the extent of the reinsurance ceded, we are ultimately liable as the direct insurer on all risks reinsured. Reinsurance recoverables are reported after allowances for uncollectible amounts. We monitor the financial condition of reinsurers on an ongoing basis and review our reinsurance arrangements periodically. Reinsurers are selected based on their financial condition, business practices and the price of their product offerings. In order to mitigate credit risk to reinsurance companies, most of our reinsurance recoverable balance as of September 30, 2020 was with reinsurers that had an A.M. Best rating of “A–” or better. The following table shows earned premiums ceded and reinsurance loss recoveries by period (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ceded earned premiums $ 80,447 $ 83,242 $ 250,240 $ 229,697 Reinsurance recoveries $ 64,697 $ 50,564 $ 217,814 $ 158,128 ​ Loss Portfolio Transfer ​ On July 16, 2020, AHIC, HIC, HSIC, HCM and HNIC (collectively, the “Hallmark Insurers”), entered into a Loss Portfolio Transfer Reinsurance Contract to be effective as of January 1, 2020 (the “LPT Contract”) with DARAG Bermuda Ltd. (“DARAG Bermuda”) and DARAG Insurance (Guernsey) Limited (“DARAG Guernsey” and, collectively, the “Reinsurers”). ​ ​ Pursuant to the LPT Contract, (a) the Hallmark Insurers ceded to the Reinsurers all existing and future claims for losses occurring on or prior to December 31, 2019 on the binding primary commercial automobile liability insurance policies and the brokerage primary commercial automobile liability insurance policies issued by the Hallmark Insurers (the “Subject Business”) up to an aggregate limit of $240.0 million, with (i) the first layer of $151.2 million in reinsurance provided by DARAG Bermuda, (ii) the Hallmark Insurers retaining a loss corridor of the next $24.9 million in losses on the Subject Business, (iii) DARAG Bermuda reinsuring a second layer of $27.8 million above the first layer and the Hallmark Insurers’ loss corridor, and (iv) DARAG Guernsey reinsuring the top layer of $36.1 million in losses on the Subject Business, in each case net of third-party reinsurance and other recoveries; (b) the Hallmark Insurers will continue to manage and retain the benefit of other third-party reinsurance on the Subject Business; and (c) the Hallmark Insurers paid the Reinsurers a net reinsurance premium of $92.6 million. In connection with the closing, the parties also entered into a Services Agreement and a Trust Agreement. Pursuant to the Services Agreement, DARAG Bermuda assumed responsibility for certain administrative services, including claims handling, for the Subject Business. Pursuant to the Trust Agreement, the Reinsurers made initial cash deposits in the aggregate amount of $96.7 million into collateral trust accounts with The Bank of New York Mellon, as trustee, to be held as security for the Reinsurers’ obligations to the Hallmark Insurers under the LPT Contract. ​ As of September 30, 2020, the ultimate incurred losses are $157.9 million or $6.7 million in excess of the first layer and currently in the loss corridor in which Hallmark retains $24.9 million. Our reinsurance recoverables of $504.5 million include $72.8 million related to the LPT as of September 30, 2020.

Revolving Credit Facility

Revolving Credit Facility	9 Months Ended
	Sep. 30, 2020
Revolving Credit Facility [Abstract]
Revolving Credit Facility	11. Revolving Credit Facility Our Second Restated Credit Agreement with Frost Bank (“Frost”) dated June 30, 2015, as amended, provided a $15.0 million revolving credit facility (“Facility A”), with a $5.0 million letter of credit sub-facility. The outstanding balance of the Facility A bore interest at a rate equal to the prime rate or LIBOR plus 2.5%, at our election. We paid an annual fee of 0.25% of the average daily unused balance of Facility A and letter of credit fees at the rate of 1.00% per annum. On August 19, 2019, we terminated Facility A. The Second Restated Credit Agreement with Frost also provided a $30.0 million revolving credit facility (“Facility B”), in addition to Facility A. We used Facility B loan proceeds solely for the purpose of making capital contributions to AHIC and HIC. We paid a quarterly fee of 0.25% per annum of the average daily unused balance of Facility B. Facility B bore interest at a rate equal to the prime rate or LIBOR plus 3.00%, at our election. On August 19, 2019, we repaid the $30.0 million principal balance and accrued interest on Facility B. Upon such repayment, we terminated Facility B. ​

Subordinated Debt Securities

Subordinated Debt Securities	9 Months Ended
	Sep. 30, 2020
Subordinated Debt Securities [Abstract]
Subordinated Debt Securities	12. Subordinated Debt Securities We issued trust preferred securities through Trust I and Trust II. These Delaware statutory trusts are sponsored and wholly-owned by Hallmark and each was created solely for the purpose of issuing the trust preferred securities. Each trust pays dividends on its preferred securities at the same rate each quarter as interest is paid on the junior subordinated debt securities. Under the terms of the junior subordinated debt securities, we pay interest only each quarter and the principal of each note at maturity. The subordinated debt securities of each trust are uncollateralized and do not require maintenance of minimum financial covenants. The following table summarizes the nature and terms of the junior subordinated debt and trust preferred securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust I ​ ​ Trust II ​ ​ ​ ​ ​ ​ ​ Issue date ​ ​ June 21, 2005 ​ ​ August 23, 2007 Principal amount of trust preferred securities ​ $ 30,000 ​ $ 25,000 Principal amount of junior subordinated debt securities ​ $ 30,928 ​ $ 25,774 Maturity date of junior subordinated debt securities ​ ​ June 15, 2035 ​ ​ September 15, 2037 Trust common stock ​ $ 928 ​ $ 774 Interest rate, per annum ​ ​ Three Month LIBOR + 3.25% ​ ​ Three Month LIBOR + 2.90% Current interest rate at September 30, 2020 ​ ​ 3.50% ​ ​ 3.15% ​

Senior Unsecured Notes

Senior Unsecured Notes	9 Months Ended
	Sep. 30, 2020
Senior Unsecured Notes
Senior Unsecured Notes	13. Senior Unsecured Notes On August 19, 2019, Hallmark issued $50.0 million of senior unsecured notes (“Notes”) due August 15, 2029. Interest on the Notes accrues at the rate of 6.25% per annum and is payable semi-annually in arrears commencing February 15, 2020. The Notes are not obligations of or guaranteed by any of Hallmark’s subsidiaries and are not subject to any sinking fund requirements. At Hallmark’s option, the Notes are redeemable, in whole or in part, prior to the stated maturity subject to certain provisions intended to make the holders of the Notes whole on scheduled interest and principal payments. The indenture governing the Notes contains covenants which restrict Hallmark’s ability to incur additional indebtedness, ​

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	9 Months Ended
	Sep. 30, 2020
Deferred Policy Acquisition Costs [Abstract]
Deferred Policy Acquisition Costs	14. Deferred Policy Acquisition Costs The following table shows total deferred and amortized policy acquisition cost activity by period (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred $ (20,939) $ 8,247 $ (45,342) $ (39,300) Amortized ​ ​ 21,684 ​ ​ (9,843) ​ ​ 45,971 ​ ​ 31,687 Net $ 745 $ (1,596) $ 629 $ (7,613) ​

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings per Share [Abstract]
Earnings per Share	15. Earnings per Share The following table sets forth basic and diluted weighted average shares outstanding for the periods indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares - basic ​ 18,142 ​ ​ 18,123 ​ 18,136 ​ ​ 18,101 Effect of dilutive securities ​ — ​ ​ 172 ​ — ​ ​ 182 Weighted average shares - assuming dilution ​ 18,142 ​ ​ 18,295 ​ 18,136 ​ ​ 18,283 ​

Net Periodic Pension Cost

Net Periodic Pension Cost	9 Months Ended
	Sep. 30, 2020
Retirement Plans
Net Periodic Pension Cost	16. Net Periodic Pension Cost The following table details the net periodic pension cost incurred by period (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 Interest cost $ 89 $ 113 $ 266 $ 340 Amortization of net loss ​ ​ 34 ​ ​ 36 ​ ​ 104 ​ ​ 108 Expected return on plan assets ​ ​ (171) ​ ​ (149) ​ ​ (513) ​ ​ (448) Net periodic pension cost $ (48) $ — $ (143) $ — Contributed amount $ — $ 500 $ — $ 500 ​ Refer to Note 15 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2019 for more discussion of our retirement plans.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Taxes [Abstract]
Income Taxes	17. Income Taxes Our effective income tax rate for the nine months ended September 30, 2020 and 2019 was 15.5% and 20.7%, respectively. The effective rate for the nine months ended September 30, 2020 varied from the statutory tax rates primarily due to the non-deductible impairment of goodwill. The effective tax rate for the nine months ended September 30, 2019 varied from the statutory tax rates primarily due to tax exempt interest income.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	18. Supplemental Cash Flow Information The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet to the total of the same such amounts shown in the statement of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents $ 186,683 $ 64,045 Restricted cash ​ ​ 17,671 ​ ​ 1,697 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 204,354 $ 65,742 ​ Restricted cash represents amounts required to be set aside by a contractual agreement with a third-party insurer and amounts pledged for the benefit of various state insurance departments. The following table provides supplemental cash flow information for the nine months ended September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest paid $ 4,845 $ 3,911 ​ ​ ​ ​ ​ ​ ​ Income taxes paid $ 654 $ 5,449 ​ ​ ​ ​ ​ ​ ​ Supplemental schedule of non-cash investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable for securities related to investment disposals $ 1,568 $ 6,351 ​ ​ ​ ​ ​ ​ ​ Payable for securities related to investment purchases $ 507 $ 1,952 ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies [Abstract]
Commitments and Contingencies	19. Commitments and Contingencies ​ On May 5, 2020, a lawsuit styled Schulze v. Hallmark Financial Services, Inc., et. al (Case No. 3:20-cv-01130) was filed in the U.S. District Court for the Northern District of Texas, Dallas Division. The Company, its Chief Executive Officer and its former Chief Financial Officer are named defendants in the lawsuit brought on behalf of a putative class of shareholders who acquired Hallmark securities between March 5, 2019 and March 17, 2020. In general, the complaint alleges that the defendants violated the Securities Exchange Act of 1934 by failing to disclose that (a) the Company lacked effective internal controls over financial reporting related to its reserves for unpaid losses, (b) the Company improperly accounted for reserves for unpaid losses, (c) the Company would be forced to report $63.8 million of prior year net adverse loss development, (d) the Company would exit the contract binding line of its commercial automobile primary insurance business, and (e) the defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis. An amended complaint was filed on September 30, 2020. Defendants’ responsive pleading is not yet due and has not been filed. The litigation is in its initial stages and we are unable to reasonably predict its potential outcome. The Company, however, believes that the lawsuit is without merit and intends to vigorously defend the claims. The Company’s current policy is to expense legal costs as incurred. Historically, the Company has not carried director and officer liability insurance and does not currently hold such a policy. ​ ​ As of September 30, 2020, we were engaged in various other legal proceedings in the ordinary course of business, none of which, either individually or in the aggregate, are believed likely to have a material adverse effect on our consolidated financial position or results of operations, in the opinion of management. The various other legal proceedings to which we were a party are routine in nature and incidental to our business.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income Balances	9 Months Ended
	Sep. 30, 2020
Changes in Accumulated Other Comprehensive Income Balances [Abstract]
Changes in Accumulated Other Comprehensive Income Balances	20. Changes in Accumulated Other Comprehensive Income Balances The changes in accumulated other comprehensive income balances as of September 30, 2020 and 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Other ​ ​ Pension ​ Unrealized ​ Comprehensive ​ Liability Gains (Loss) Income (Loss) Balance at December 31, 2018 ​ $ (3,334) ​ $ (3,326) ​ $ (6,660) Other comprehensive income: ​ ​ ​ ​ Change in net actuarial gain ​ 108 ​ — ​ 108 Tax effect on change in net actuarial gain ​ (23) ​ — ​ (23) Unrealized holding gains arising during the period ​ — ​ 13,010 ​ 13,010 Tax effect on unrealized gains arising during the period ​ — ​ (2,732) ​ (2,732) Reclassification adjustment for gains included in net income ​ — ​ (4,376) ​ (4,376) Tax effect on reclassification adjustment for gains included in net income ​ — ​ 919 ​ 919 Other comprehensive income, net of tax ​ 85 ​ 6,821 ​ 6,906 Balance at September 30, 2019 ​ $ (3,249) ​ $ 3,495 ​ $ 246 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2019 ​ $ (3,239) ​ $ 3,927 ​ $ 688 Other comprehensive income (loss): ​ ​ ​ Change in net actuarial gain ​ 104 ​ — ​ 104 Tax effect on change in net actuarial gain ​ (22) ​ — ​ (22) Unrealized holding gains arising during the period ​ — ​ 4,149 ​ 4,149 Tax effect on unrealized holding gains arising during the period ​ — ​ (872) ​ (872) Reclassification adjustment for gains included in net loss ​ — ​ (5,612) ​ (5,612) Tax effect on reclassification adjustment for gains included in net loss ​ — ​ 1,179 ​ 1,179 Other comprehensive income (loss), net of tax ​ 82 ​ (1,156) ​ (1,074) Balance at September 30, 2020 ​ $ (3,157) ​ $ 2,771 ​ $ (386) ​

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	​ 21. Leases We adopted ASU 2016-02, “Leases, (Topic 842)” on January 1, 2019, which resulted in the recognition of operating leases on the balance sheet in 2019 and going forward. See Note 2 for more information on the adoption of ASU 2016-02. Right-of-use assets are included in the other assets line item and lease liabilities are included in the other liabilities line item of the consolidated balance sheet. We also elected certain practical expedients that allow us not to reassess existing leases under the new guidance. We determine if a contract contains a lease at inception and recognize operating lease right-of-use assets and operating lease liabilities based on the present value of the future minimum lease payments at the commencement date. Since our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Lease agreements have lease and non-lease components, which are accounted for as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. The Company’s operating lease obligations predominately pertain to office leases utilized in the operation of our business. Our leases have remaining terms of 1 to 13 years, some of which include options to extend the leases. The components of lease expense and other lease information as of and during the three and nine-month periods ended September 30, 2020 and 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ ​ September 30, ​ 2020 ​ 2019 ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 750 ​ ​ $ 790 ​ ​ $ 2,291 ​ $ 2,146 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 758 ​ ​ $ 392 ​ ​ $ 1,749 ​ $ 1,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ — ​ ​ $ — ​ ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ $ 14,467 ​ $ 16,044 ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ $ 16,348 ​ $ 17,347 ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term - operating leases ​ ​ 10.3 ​ ​ 10.6 ​ ​ ​ ​ ​ ​ ​ Weighted-average discount rate - operating leases ​ ​ 5.87% ​ ​ 5.88% ​ ​ ​ ​ ​ We incurred $12 thousand in short-term lease payments not included in our lease liability during the nine months ended September 30, 2020. ​ Future minimum lease payments under non-cancellable leases as of September 30, 2020 and December 31, 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ 2020 ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ 2020 ​ $ 724 ​ $ 2,473 2021 ​ ​ 2,172 ​ ​ 2,172 2022 ​ ​ 2,171 ​ ​ 2,171 2023 ​ ​ 1,885 ​ ​ 1,885 2024 ​ ​ 1,941 ​ ​ 1,941 Thereafter ​ ​ 13,325 ​ ​ 13,325 Total future minimum lease payments (a) ​ $ 22,218 ​ $ 23,967 ​ ​ ​ ​ ​ ​ ​ Less imputed interest ​ $ (5,870) ​ $ (6,620) Total operating lease liability ​ $ 16,348 ​ $ 17,347 ​ ​ ​ ​ ​ (a) Minimum lease payments have not been reduced by minimum sublease rentals of $433 thousand due in the future under non-cancelable subleases. ​ During the third quarter of 2020 we entered into a sublease on an office space located at 13727 Noel Road, Dallas, Texas. Certain employees of our Commercial Auto and E&S Casualty business units, were previously located at this office space. During the third quarter we recorded sublease income of $45 thousand as a reduction to rent expense. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2020
Basis of Presentation [Abstract]
Use of Estimates in the Preparation of the Financial Statements	Use of Estimates in the Preparation of the Financial Statements Our preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect our reported amounts of assets and liabilities and our disclosure of contingent assets and liabilities at the date of our consolidated financial statements, as well as our reported amounts of revenues and expenses during the reporting period. Refer to “Critical Accounting Estimates and Judgments” under Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2019 for information on accounting policies that we consider critical in preparing our consolidated financial statements. Actual results could differ materially from those estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value estimates are made at a point in time based on relevant market data as well as the best information available about the financial instruments. Fair value estimates for financial instruments for which no or limited observable market data is available are based on judgments regarding current economic conditions, credit and interest rate risk. These estimates involve significant uncertainties and judgments and cannot be determined with precision. As a result, such calculated fair value estimates may not be realizable in a current sale or immediate settlement of the instrument. In addition, changes in the underlying assumptions used in the fair value measurement technique, including discount rate and estimates of future cash flows, could significantly affect these fair value estimates. Cash and Cash Equivalents Restricted Cash Senior Unsecured Notes Due 2029 Subordinated Debt Securities For reinsurance balances, premiums receivable, federal income tax recoverable, other assets and other liabilities, the carrying amounts approximate fair value because of the short maturity of such financial instruments.
Variable Interest Entities	Variable Interest Entities On June 21, 2005, we formed Hallmark Statutory Trust I (“Trust I”), an unconsolidated trust subsidiary, for the sole purpose of issuing $30.0 million in trust preferred securities. Trust I used the proceeds from the sale of these securities and our initial capital contribution to purchase $30.9 million of subordinated debt securities from Hallmark. The debt securities are the sole assets of Trust I, and the payments under the debt securities are the sole revenues of Trust I. On August 23, 2007, we formed Hallmark Statutory Trust II (“Trust II”), an unconsolidated trust subsidiary, for the sole purpose of issuing $25.0 million in trust preferred securities. Trust II used the proceeds from the sale of these securities and our initial capital contribution to purchase $25.8 million of subordinated debt securities from Hallmark. The debt securities are the sole assets of Trust II, and the payments under the debt securities are the sole revenues of Trust II. We evaluate on an ongoing basis our investments in Trust I and Trust II (collectively the “Trusts”) and have determined that we do not have a variable interest in the Trusts. Therefore, the Trusts are not included in our consolidated financial statements. We are also involved in the normal course of business with variable interest entities primarily as a passive investor in mortgage-backed securities and certain collateralized corporate bank loans issued by third-party variable interest entities. The maximum exposure to loss with respect to these investments is limited to the investment carrying values included in the consolidated balance sheets.
Income Taxes	Income Taxes We file a consolidated federal income tax return. Deferred federal income taxes reflect the future tax consequences of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year end. Deferred taxes are recognized using the liability method, whereby tax rates are applied to cumulative temporary differences based on when and how they are expected to affect the tax return. Deferred tax assets and liabilities are adjusted for tax rate changes in effect for the year in which these temporary differences are expected to be recovered or settled.
Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements On August 28, 2018, the FASB issued ASU 2018-13, “Fair Value Measurement: Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement” (Topic 820), which amends ASC 820 to add, remove, and modify fair value measurement disclosure requirements. The requirements to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements have all been removed. However, the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period must be disclosed along with the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements (or other quantitative information if it is more reasonable). Finally, for investments measured at net asset value, the requirements have been modified so that the timing of liquidation and the date when restrictions from redemption might lapse are only disclosed if the investee has communicated the timing to the entity or announced the timing publicly. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. As the amendments are only disclosure related, our financial statements were not materially impacted by this update. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment” (Topic 350). ASU 2017-04 requires only a one-step quantitative impairment test, whereby a goodwill impairment loss will be measured as the excess of a reporting unit’s carrying amount over its fair value (not to exceed the total goodwill allocated to that reporting unit). It eliminates Step 2 of the current two-step goodwill impairment test, under which a goodwill impairment loss is measured by comparing the implied fair value of a reporting unit’s goodwill. The ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The adoption of this guidance did not have a material effect on the Company’s results of operations, financials position or liquidity. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. ASU 2016-02 requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Additionally, ASU 2016-02 modifies current guidance for lessors' accounting. ASU 2016-02 is effective for interim and annual reporting periods beginning on or after January 1, 2019, with early adoption permitted. During 2018, the FASB issued several amendments and targeted improvements to ease the application of the standard, including the addition of a transition approach that gives the Company the option of applying the standard at either the beginning of the earliest comparative period presented or the beginning of the period of adoption. We adopted the standard on its effective date of January 1, 2019. We also elected certain practical expedients that allow us not to reassess existing leases under the new guidance. As of September 30, 2020, $14.5 million of right-of-use assets and $16.3 million of lease liabilities for operating leases were included in the other assets and other liabilities line items of the balance sheet, respectively, as a result of the adoption of this update. Recently Issued Accounting Pronouncements In December 2019, the FASB issued updated guidance for the accounting for income taxes. The updated guidance is intended to simplify the accounting for income taxes by removing several exceptions contained in the existing guidance and amending other existing guidance to simplify several other income tax accounting matters. The updated guidance is effective for the quarter ending March 31, 2021. Early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company’s results of operations, financials position or liquidity. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments” (Topic 326). ASU 2016-13 requires organizations to estimate credit losses on certain types of financial instruments, including receivables and available-for-sale debt securities, by introducing an approach based on expected losses. The expected loss approach will require entities to incorporate considerations of historical information, current information and reasonable and supportable forecasts. As a smaller reporting company, ASU 2016-13 is effective for fiscal years of the Company beginning after December 15, 2022, including interim periods within those fiscal years. ASU 2016-13 requires a modified retrospective transition method and early adoption is permitted. We are currently evaluating the impact that the adoption of this standard will have on our financial results and disclosures, but do not anticipate that any potential impact would be material.

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table presents, for each of the fair value hierarchy levels, assets that are measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2020 ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets ​ Other Observable ​ Unobservable ​ ​ ​ ​ (Level 1) Inputs (Level 2) Inputs (Level 3) Total U.S. Treasury securities and obligations of U.S. Government ​ $ — ​ $ 61,001 ​ $ - ​ $ 61,001 Corporate bonds ​ — ​ 239,154 ​ 325 ​ 239,479 Collateralized corporate bank loans ​ — ​ 55,334 ​ - ​ 55,334 Municipal bonds ​ — ​ 55,638 ​ - ​ 55,638 Mortgage-backed ​ — ​ 6,117 ​ - ​ 6,117 Total debt securities ​ — ​ 417,244 ​ 325 ​ 417,569 Total equity securities ​ 23,372 ​ — ​ — ​ 23,372 Total other investments ​ 34 ​ — ​ — ​ 34 Total investments ​ $ 23,406 ​ $ 417,244 ​ $ 325 ​ $ 440,975 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets ​ Other Observable ​ Unobservable ​ ​ ​ ​ (Level 1) Inputs (Level 2) Inputs (Level 3) Total U.S. Treasury securities and obligations of U.S. Government ​ $ — ​ $ 66,600 ​ $ — ​ $ 66,600 Corporate bonds ​ — ​ 300,486 ​ 339 ​ 300,825 Collateralized corporate bank loans ​ — ​ 115,757 ​ — ​ 115,757 Municipal bonds ​ — ​ 83,270 ​ — ​ 83,270 Mortgage-backed ​ — ​ 7,827 ​ — ​ 7,827 Total debt securities ​ — ​ 573,940 ​ 339 ​ 574,279 Total equity securities ​ 99,215 ​ — ​ — ​ 99,215 Total other investments ​ 2,169 ​ — ​ — ​ 2,169 Total investments ​ $ 101,384 ​ $ 573,940 ​ $ 339 ​ $ 675,663
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table summarizes the changes in fair value for all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the nine months ended September 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ Beginning balance as of January 1, 2020 $ 339 Sales ​ — Settlements ​ — Purchases ​ — Issuances ​ — Total realized/unrealized losses included in net income ​ — Net gain included in other comprehensive income ​ (14) Transfers into Level 3 ​ — Transfers out of Level 3 ​ — Ending balance as of September 30, 2020 ​ $ 325 ​ ​ ​ ​ ​ Beginning balance as of January 1, 2019 $ 291 Sales ​ — Settlements ​ — Purchases ​ — Issuances ​ — Total realized/unrealized gains included in net income ​ — Net gains included in other comprehensive income ​ 153 Transfers into Level 3 ​ — Transfers out of Level 3 ​ — Ending balance as of September 30, 2019 ​ $ 444

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Amortized Cost and Estimated Fair Value of Investments in Debt and Equity Securities by Category	The amortized cost and estimated fair value of investments in debt and equity securities by category is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ ​ Cost / ​ Unrealized ​ Unrealized ​ ​ ​ ​ Amortized Cost Gains Losses Fair Value As of September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury securities and obligations of U.S. Government ​ $ 60,332 ​ $ 671 ​ $ (2) ​ $ 61,001 Corporate bonds ​ 235,469 ​ 5,291 ​ (1,281) ​ 239,479 Collateralized corporate bank loans ​ 57,559 ​ - ​ (2,225) ​ 55,334 Municipal bonds ​ 54,837 ​ 852 ​ (51) ​ 55,638 Mortgage-backed ​ 6,000 ​ 122 ​ (5) ​ 6,117 Total debt securities ​ 414,197 ​ 6,936 ​ (3,564) ​ 417,569 Total equity securities ​ 25,735 ​ 2,989 ​ (5,352) ​ 23,372 Total other investments ​ 3,763 ​ — ​ (3,729) ​ 34 Total investments ​ $ 443,695 ​ $ 9,925 ​ $ (12,645) ​ $ 440,975 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ ​ ​ ​ ​ U.S. Treasury securities and obligations of U.S. Government ​ $ 66,441 ​ $ 162 ​ $ (3) ​ $ 66,600 Corporate bonds ​ 297,601 ​ 3,387 ​ (163) ​ 300,825 Collateralized corporate bank loans ​ 115,669 ​ 556 ​ (468) ​ 115,757 Municipal bonds ​ 81,787 ​ 1,531 ​ (48) ​ 83,270 Mortgage-backed ​ 8,000 ​ 46 ​ (219) ​ 7,827 Total debt securities ​ 569,498 ​ 5,682 ​ (901) ​ 574,279 Total equity securities ​ 71,895 ​ 35,028 ​ (7,708) ​ 99,215 Total other investments ​ 3,763 ​ — ​ (1,594) ​ 2,169 Total investments ​ $ 645,156 ​ $ 40,710 ​ $ (10,203) ​ $ 675,663
Major Categories of Net Investment (Losses) Gains on Investments	Major categories of net investment gains (losses) on investments are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2020 2019 2020 2019 U.S. Treasury securities and obligations of U.S. Government ​ $ (3) ​ $ — ​ $ (3) ​ $ — ​ Corporate bonds ​ 352 ​ 154 ​ 766 ​ 171 ​ Collateralized corporate bank loans ​ 66 ​ (103) ​ (19) ​ (65) ​ Municipal bonds ​ (25) ​ 124 ​ 1,397 ​ 4,271 ​ Mortgage-backed ​ — ​ — ​ — ​ (1) ​ Equity securities ​ — ​ — ​ 3,471 ​ — ​ Gain on investments ​ 390 ​ 175 ​ 5,612 ​ 4,376 ​ Unrealized gains (losses) on equity securities ​ 937 ​ (1,941) ​ (29,683) ​ 11,175 ​ Other-than-temporary impairments ​ ​ (1,692) ​ ​ — ​ ​ (1,692) ​ ​ — ​ Unrealized (losses) gains on other investments ​ ​ (262) ​ ​ 424 ​ ​ (2,136) ​ ​ 1,861 ​ Investment (losses) gains, net ​ $ (627) ​ $ (1,342) ​ $ (27,899) ​ $ 17,412 ​
Summary of Gross Unrealized Loss Position	The following schedules summarize the gross unrealized losses showing the length of time that investments have been continuously in an unrealized loss position as of September 30, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2020 ​ ​ 12 months or less ​ Longer than 12 months ​ Total ​ ​ ​ Unrealized ​ ​ Unrealized ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities and obligations of U.S. Government ​ $ 18,091 ​ $ (2) ​ $ — ​ $ — ​ $ 18,091 ​ $ (2) Corporate bonds ​ 8,982 ​ (1,035) ​ 4,071 ​ (246) ​ 13,053 ​ (1,281) Collateralized corporate bank loans ​ 49,558 ​ (1,571) ​ 5,638 ​ (654) ​ 55,196 ​ (2,225) Municipal bonds ​ 2,550 ​ (33) ​ 1,379 ​ (18) ​ 3,929 ​ (51) Mortgage-backed ​ — ​ — ​ 14 ​ (5) ​ 14 ​ (5) Total debt securities ​ 79,181 ​ (2,641) ​ 11,102 ​ (923) ​ 90,283 ​ (3,564) Total equity securities ​ 10,265 ​ (4,187) ​ ​ 1,935 ​ ​ (1,165) ​ ​ 12,200 ​ (5,352) Total other investments ​ — ​ — ​ ​ 34 ​ ​ (3,729) ​ ​ 34 ​ (3,729) Total investments ​ $ 89,446 ​ $ (6,828) ​ $ 13,071 ​ $ (5,817) ​ $ 102,517 ​ $ (12,645) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ 12 months or less ​ Longer than 12 months ​ Total ​ ​ ​ Unrealized ​ ​ Unrealized ​ ​ Unrealized ​ Fair Value Losses Fair Value Losses Fair Value Losses U.S. Treasury securities and obligations of U.S. Government ​ $ — ​ $ — ​ $ 5,513 ​ $ (3) ​ $ 5,513 ​ $ (3) Corporate bonds ​ 27,268 ​ (144) ​ 1,150 ​ (19) ​ 28,418 ​ (163) Collateralized corporate bank loans ​ 9,000 ​ (41) ​ 10,228 ​ (427) ​ 19,228 ​ (468) Municipal bonds ​ 4,808 ​ (29) ​ 1,618 ​ (19) ​ 6,426 ​ (48) Mortgage-backed ​ 1,712 ​ (101) ​ 562 ​ (118) ​ 2,274 ​ (219) Total debt securities ​ 42,788 ​ (315) ​ 19,071 ​ (586) ​ 61,859 ​ (901) Total equity securities ​ 10,905 ​ (2,363) ​ 6,093 ​ (5,345) ​ 16,998 ​ (7,708) Total other investments ​ — ​ — ​ 2,169 ​ (1,594) ​ 2,169 ​ (1,594) Total investments ​ $ 53,693 ​ $ (2,678) ​ $ 27,333 ​ $ (7,525) ​ $ 81,026 ​ $ (10,203)
Carrying Value of Other Invested Assets Portfolio	Details regarding the carrying value of the other investments portfolio as of September 30, 2020 and December 31, 2019 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Investment Type ​ ​ Equity warrant ​ $ 34 ​ $ 2,169 Total other investments ​ $ 34 ​ $ 2,169
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturities	The amortized cost and estimated fair value of debt securities at September 30, 2020 by contractual maturity are as follows. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without penalties. ​ ​ ​ ​ ​ ​ ​ ​ Amortized Cost Fair Value ​ ​ (in thousands) Due in one year or less ​ $ 113,961 ​ $ 115,144 Due after one year through five years ​ 248,003 ​ 250,693 Due after five years through ten years ​ 32,766 ​ 31,560 Due after ten years ​ 13,467 ​ 14,055 Mortgage-backed ​ 6,000 ​ 6,117 ​ ​ $ 414,197 ​ $ 417,569

Reserves for Unpaid Losses an_2

Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)	9 Months Ended
	Sep. 30, 2020
Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]
Summary of Activity in the Reserves for Unpaid Losses and Loss Adjustment Expense	Year to-date activity in the consolidated reserves for unpaid losses and LAE is summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ September 30, ​ ​ ​ 2020 ​ 2019 ​ Balance at January 1 ​ $ 620,355 ​ $ 527,247 ​ Less reinsurance recoverable ​ 272,604 ​ 221,716 ​ Net balance at January 1 ​ 347,751 ​ 305,531 ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred related to: ​ ​ ​ Current year ​ 257,572 ​ 214,080 ​ Loss portfolio transfer ​ ​ 21,700 ​ ​ — ​ Prior years ​ 33,259 ​ 7,781 ​ Total incurred ​ 312,531 ​ 221,861 ​ ​ ​ ​ ​ ​ ​ ​ ​ Paid related to: ​ ​ ​ Current year ​ 67,146 ​ 75,834 ​ Loss portfolio transfer ​ ​ 21,700 ​ ​ — ​ Prior years ​ 177,325 ​ 146,929 ​ Total paid ​ 266,171 ​ 222,763 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net balance at September 30 ​ 394,111 ​ 304,629 ​ Plus reinsurance recoverable ​ 361,780 ​ 260,667 ​ Balance at September 30 ​ $ 755,891 ​ $ 565,296 ​
Impact of Net Prior Years Loss Development On Each Reporting Segment	The year to date impact from the unfavorable (favorable) net prior years’ loss development on each reporting segment is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ 2020 2019 Specialty Commercial Segment ​ $ 23,961 ​ $ 11,232 Standard Commercial Segment ​ 2,350 ​ (3,508) Personal Segment ​ 6,948 ​ 57 Corporate ​ — ​ — Total unfavorable net prior year development ​ $ 33,259 ​ $ 7,781

Share-Based Payment Arrangeme_2

Share-Based Payment Arrangements (Tables)	9 Months Ended
	Sep. 30, 2020
Share-Based Payment Arrangements [Abstract]
Summary of the Status of Stock Options	A summary of the status of our stock options as of September 30, 2020 and changes during the nine months then ended is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ Aggregate ​ ​ Number of ​ Weighted Average ​ Contractual ​ Intrinsic Value ​ Shares Exercise Price Term (Years) ($000) Outstanding at January 1, 2020 14,157 ​ $ 6.99 ​ Granted — ​ — ​ Exercised — ​ $ — ​ Forfeited or expired — ​ $ — ​ Outstanding at September 30, 2020 14,157 ​ $ 6.99 1.3 ​ $ — Exercisable at September 30, 2020 14,157 ​ $ 6.99 1.3 ​ $ —
Schedule of Options, Grants in Period and Grant Date Intrinsic Value	The following table details the intrinsic value of options exercised, total cost of share-based payments charged against income before income tax benefit and the amount of related income tax benefit recognized in income for the periods indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2020 2019 2020 2019 ​ Intrinsic value of options exercised ​ $ — ​ $ — ​ $ — ​ $ 845 ​ Cost of share-based payments (non-cash) ​ $ — ​ $ — ​ $ — ​ $ — ​ Income tax benefit of share-based payments recognized in income ​ $ — ​ $ — ​ $ — ​ $ — ​
Summary of the Status of Restricted Stock Units	The following table details the status of our restricted stock units as of and for the nine months ended September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of Restricted Stock Units ​ ​ 2020 2019 Nonvested at January 1 ​ 353,491 338,897 Granted ​ — 97,804 Vested ​ (19,065) — Forfeited ​ (92,563) (83,210) Nonvested at September 30 ​ 241,863 353,491

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Information [Abstract]
Schedule of Business Segment Information	The following is business segment information for the three and nine months ended September 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ 2020 2019 2020 2019 ​ Revenues ​ ​ ​ ​ ​ ​ Specialty Commercial Segment ​ $ 86,589 ​ $ 81,341 ​ $ 269,833 ​ $ 222,900 ​ Standard Commercial Segment ​ 17,398 ​ 16,344 ​ 52,130 ​ 52,027 ​ Personal Segment ​ 20,513 ​ 22,943 ​ 65,300 ​ 65,542 ​ Corporate ​ (1,367) ​ (2,343) ​ (30,430) ​ 16,840 ​ Consolidated ​ $ 123,133 ​ $ 118,285 ​ $ 356,833 ​ $ 357,309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pre-tax (loss) income ​ ​ ​ ​ ​ Specialty Commercial Segment ​ $ (26,751) ​ $ 14,766 ​ $ (4,577) ​ $ 33,161 ​ Standard Commercial Segment ​ (1,672) ​ 62 ​ (154) ​ 3,626 ​ Personal Segment ​ (2,065) ​ (740) ​ (5,836) ​ 3,274 ​ Corporate ​ (6,818) ​ (7,428) ​ (90,742) ​ 2,001 ​ Consolidated ​ $ (37,306) ​ $ 6,660 ​ $ (101,309) ​ $ 42,062 ​
Schedule of Additional Business Segment Information	The following is additional business segment information as of the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Assets: ​ 2020 ​ 2019 Specialty Commercial Segment ​ $ 1,117,057 ​ $ 1,082,804 Standard Commercial Segment ​ 182,977 ​ 193,710 Personal Segment ​ 137,108 ​ 164,685 Corporate ​ 60,365 ​ 54,075 Consolidated ​ $ 1,497,507 ​ $ 1,495,274

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2020
Reinsurance [Abstract]
Schedule of Reinsurance Ceded and Recoveries	The following table shows earned premiums ceded and reinsurance loss recoveries by period (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ceded earned premiums $ 80,447 $ 83,242 $ 250,240 $ 229,697 Reinsurance recoveries $ 64,697 $ 50,564 $ 217,814 $ 158,128

Subordinated Debt Securities (T

Subordinated Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Subordinated Debt Securities [Abstract]
Summary of the nature and terms of the junior subordinated debt and trust preferred securities	The following table summarizes the nature and terms of the junior subordinated debt and trust preferred securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trust I ​ ​ Trust II ​ ​ ​ ​ ​ ​ ​ Issue date ​ ​ June 21, 2005 ​ ​ August 23, 2007 Principal amount of trust preferred securities ​ $ 30,000 ​ $ 25,000 Principal amount of junior subordinated debt securities ​ $ 30,928 ​ $ 25,774 Maturity date of junior subordinated debt securities ​ ​ June 15, 2035 ​ ​ September 15, 2037 Trust common stock ​ $ 928 ​ $ 774 Interest rate, per annum ​ ​ Three Month LIBOR + 3.25% ​ ​ Three Month LIBOR + 2.90% Current interest rate at September 30, 2020 ​ ​ 3.50% ​ ​ 3.15%

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Policy Acquisition Costs [Abstract]
Deferred Amortized Policy Acquisition Costs	The following table shows total deferred and amortized policy acquisition cost activity by period (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred $ (20,939) $ 8,247 $ (45,342) $ (39,300) Amortized ​ ​ 21,684 ​ ​ (9,843) ​ ​ 45,971 ​ ​ 31,687 Net $ 745 $ (1,596) $ 629 $ (7,613)

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings per Share [Abstract]
Schedule of Weighted Average Number of Shares Outstanding	The following table sets forth basic and diluted weighted average shares outstanding for the periods indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares - basic ​ 18,142 ​ ​ 18,123 ​ 18,136 ​ ​ 18,101 Effect of dilutive securities ​ — ​ ​ 172 ​ — ​ ​ 182 Weighted average shares - assuming dilution ​ 18,142 ​ ​ 18,295 ​ 18,136 ​ ​ 18,283

Net Periodic Pension Cost (Tabl

Net Periodic Pension Cost (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Plans
Schedule of Net Benefit Costs	The following table details the net periodic pension cost incurred by period (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ September 30, September 30, ​ 2020 2019 2020 2019 Interest cost $ 89 $ 113 $ 266 $ 340 Amortization of net loss ​ ​ 34 ​ ​ 36 ​ ​ 104 ​ ​ 108 Expected return on plan assets ​ ​ (171) ​ ​ (149) ​ ​ (513) ​ ​ (448) Net periodic pension cost $ (48) $ — $ (143) $ — Contributed amount $ — $ 500 $ — $ 500

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information [Abstract]
Reconciliation of Cash, Cash Equivalents and Restricted Cash in Balance Sheet to Cash Flows	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet to the total of the same such amounts shown in the statement of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents $ 186,683 $ 64,045 Restricted cash ​ ​ 17,671 ​ ​ 1,697 Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 204,354 $ 65,742
Supplemental cash flow information	The following table provides supplemental cash flow information for the nine months ended September 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest paid $ 4,845 $ 3,911 ​ ​ ​ ​ ​ ​ ​ Income taxes paid $ 654 $ 5,449 ​ ​ ​ ​ ​ ​ ​ Supplemental schedule of non-cash investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivable for securities related to investment disposals $ 1,568 $ 6,351 ​ ​ ​ ​ ​ ​ ​ Payable for securities related to investment purchases $ 507 $ 1,952

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income Balances (Tables)	9 Months Ended
	Sep. 30, 2020
Changes in Accumulated Other Comprehensive Income Balances [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income	The changes in accumulated other comprehensive income balances as of September 30, 2020 and 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Other ​ ​ Pension ​ Unrealized ​ Comprehensive ​ Liability Gains (Loss) Income (Loss) Balance at December 31, 2018 ​ $ (3,334) ​ $ (3,326) ​ $ (6,660) Other comprehensive income: ​ ​ ​ ​ Change in net actuarial gain ​ 108 ​ — ​ 108 Tax effect on change in net actuarial gain ​ (23) ​ — ​ (23) Unrealized holding gains arising during the period ​ — ​ 13,010 ​ 13,010 Tax effect on unrealized gains arising during the period ​ — ​ (2,732) ​ (2,732) Reclassification adjustment for gains included in net income ​ — ​ (4,376) ​ (4,376) Tax effect on reclassification adjustment for gains included in net income ​ — ​ 919 ​ 919 Other comprehensive income, net of tax ​ 85 ​ 6,821 ​ 6,906 Balance at September 30, 2019 ​ $ (3,249) ​ $ 3,495 ​ $ 246 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2019 ​ $ (3,239) ​ $ 3,927 ​ $ 688 Other comprehensive income (loss): ​ ​ ​ Change in net actuarial gain ​ 104 ​ — ​ 104 Tax effect on change in net actuarial gain ​ (22) ​ — ​ (22) Unrealized holding gains arising during the period ​ — ​ 4,149 ​ 4,149 Tax effect on unrealized holding gains arising during the period ​ — ​ (872) ​ (872) Reclassification adjustment for gains included in net loss ​ — ​ (5,612) ​ (5,612) Tax effect on reclassification adjustment for gains included in net loss ​ — ​ 1,179 ​ 1,179 Other comprehensive income (loss), net of tax ​ 82 ​ (1,156) ​ (1,074) Balance at September 30, 2020 ​ $ (3,157) ​ $ 2,771 ​ $ (386)

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Summary of components of lease expense and other lease information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ ​ September 30, ​ 2020 ​ 2019 ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 750 ​ ​ $ 790 ​ ​ $ 2,291 ​ $ 2,146 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 758 ​ ​ $ 392 ​ ​ $ 1,749 ​ $ 1,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ — ​ ​ $ — ​ ​ $ — ​ $ — ​
Summary of balance sheet components	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2020 2019 ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets ​ $ 14,467 ​ $ 16,044 ​ ​ ​ ​ ​ ​ ​ Operating lease liabilities ​ $ 16,348 ​ $ 17,347 ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term - operating leases ​ ​ 10.3 ​ ​ 10.6 ​ ​ ​ ​ ​ ​ ​ Weighted-average discount rate - operating leases ​ ​ 5.87% ​ ​ 5.88%
Summary of future minimum lease payments under non-cancellable leases	Future minimum lease payments under non-cancellable leases as of September 30, 2020 and December 31, 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ December 31, ​ 2020 ​ ​ 2019 ​ ​ ​ ​ ​ ​ ​ 2020 ​ $ 724 ​ $ 2,473 2021 ​ ​ 2,172 ​ ​ 2,172 2022 ​ ​ 2,171 ​ ​ 2,171 2023 ​ ​ 1,885 ​ ​ 1,885 2024 ​ ​ 1,941 ​ ​ 1,941 Thereafter ​ ​ 13,325 ​ ​ 13,325 Total future minimum lease payments (a) ​ $ 22,218 ​ $ 23,967 ​ ​ ​ ​ ​ ​ ​ Less imputed interest ​ $ (5,870) ​ $ (6,620) Total operating lease liability ​ $ 16,348 ​ $ 17,347 ​ ​ ​ ​ ​ (a) Minimum lease payments have not been reduced by minimum sublease rentals of $433 thousand due in the future under non-cancelable subleases.

General (Narrative) (Details)

General (Narrative) (Details)	9 Months Ended
	Sep. 30, 2020segment
General [Abstract]
Number of reportable segments	3

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	Aug. 23, 2007	Jun. 21, 2005	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Senior unsecured notes due 2029			$ 49,132	$ 49,058
Right of use asset			14,467	16,044
Operating lease liabilities			16,348	$ 17,347
Hallmark Statutory Trust I [Member]
Variable Interest Entity [Line Items]
Proceeds from issuance of trust preferred securities	$ 25,000	$ 30,000
Senior unsecured notes due 2029 [Member]
Variable Interest Entity [Line Items]
Senior unsecured notes due 2029			49,100
Notes Payable, Fair Value Disclosure			52,600
Subordinated Debt [Member]
Variable Interest Entity [Line Items]
Trust preferred securities, carrying value			55,900
Trust preferred securities, fair value			$ 30,300
Subordinated Debt [Member] | Hallmark Statutory Trust I [Member]
Variable Interest Entity [Line Items]
Payments to acquire trust preferred investments	$ 25,800	$ 30,900

Acquisitions, Goodwill and In_2

Acquisitions, Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Acquisitions, Goodwill and Intangible Assets [Abstract]
Impairment of goodwill	$ 44,700
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ 1,300
Goodwill		$ 0	$ 44,695

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)security	Dec. 31, 2019security
Fair Value [Abstract]
Available-For-Sale Securities, Number Of Debt Securities With Unobservable Inputs | security	1	1
Transfer of assets from level 1 to level 2	$ 0
Transfer of assets from level 2 to level 1	0
Transfer of liabilities from level 1 to level 2	0
Transfer of liabilities from level 2 to level 1	$ 0

Fair Value (Fair Value of Asset

Fair Value (Fair Value of Assets Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 417,569	$ 574,279
Total equity securities	23,372	99,215
Total investments	440,975	675,663
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	23,372	99,215
Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	34	2,169
Mortgage Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,117
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	417,569	574,279
Total investments	440,975	675,663
Fair Value, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	23,372	99,215
Fair Value, Recurring [Member] | Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	34	2,169
Fair Value, Recurring [Member] | U.S. Treasury Securities and Obligations of U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	61,001	66,600
Fair Value, Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	239,479	300,825
Fair Value, Recurring [Member] | Collateralized Corporate Bank Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	55,334	115,757
Fair Value, Recurring [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	55,638	83,270
Fair Value, Recurring [Member] | Mortgage Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,117	7,827
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Total investments	23,406	101,384
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	23,372	99,215
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities	34	2,169
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | U.S. Treasury Securities and Obligations of U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Collateralized Corporate Bank Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Mortgage Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	417,244	573,940
Total investments	417,244	573,940
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | U.S. Treasury Securities and Obligations of U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	61,001	66,600
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	239,154	300,486
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Collateralized Corporate Bank Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	55,334	115,757
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	55,638	83,270
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Mortgage Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,117	7,827
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	325	339
Total investments	325	339
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities		0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total equity securities		0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | U.S. Treasury Securities and Obligations of U.S. Government [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 325	339
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Collateralized Corporate Bank Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Mortgage Backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value		$ 0

Fair Value (Fair Value, Assets

Fair Value (Fair Value, Assets Measured on Recurring Basis Using Significant Unobservable Inputs (Level 3)) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 339	$ 291
Sales	0	0
Settlements	0	0
Purchases	0	0
Issuances	0	0
Total realized/unrealized gains included in net income	0	0
Net gains included in other comprehensive income	(14)	153
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending balance	$ 325	$ 444

Investments (Amortized Cost and

Investments (Amortized Cost and Estimated Fair Value of Investments in Debt and Equity Securities by Category) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 414,197	$ 569,498
Fair Value	417,569	574,279
Equity Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Equity securities, Amortized Cost	25,735	71,895
Total equity securities	23,372	99,215
Investments, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Investments, Amortized cost	443,695	645,156
Investments, Gross Unrealized Gains	9,925	40,710
Investments, Gross Unrealized Losses	(12,645)	(10,203)
Investments, Fair value	440,975	675,663
Mortgage Backed [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	6,000
Fair Value	6,117
Debt Securities [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	414,197	569,498
Gross Unrealized Gain	6,936	5,682
Gross Unrealized Loss	(3,564)	(901)
Fair Value	417,569	574,279
Debt Securities [Member] | U.S. Treasury Securities and Obligations of U.S. Government [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	60,332	66,441
Gross Unrealized Gain	671	162
Gross Unrealized Loss	(2)	(3)
Fair Value	61,001	66,600
Debt Securities [Member] | Corporate Bonds [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	235,469	297,601
Gross Unrealized Gain	5,291	3,387
Gross Unrealized Loss	(1,281)	(163)
Fair Value	239,479	300,825
Debt Securities [Member] | Collateralized Corporate Bank Loans [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	57,559	115,669
Gross Unrealized Gain		556
Gross Unrealized Loss	(2,225)	(468)
Fair Value	55,334	115,757
Debt Securities [Member] | Municipal Bonds [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	54,837	81,787
Gross Unrealized Gain	852	1,531
Gross Unrealized Loss	(51)	(48)
Fair Value	55,638	83,270
Debt Securities [Member] | Mortgage Backed [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	6,000	8,000
Gross Unrealized Gain	122	46
Gross Unrealized Loss	(5)	(219)
Fair Value	6,117	7,827
Equity Securities [Member]
Equity Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Equity securities, Amortized Cost	25,735	71,895
Equity Securities, Gross Unrealized Gains	2,989	35,028
Equity Securities, Gross Unrealized Losses	(5,352)	(7,708)
Total equity securities	23,372	99,215
Other Investments [Member]
Equity Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Equity securities, Amortized Cost	3,763	3,763
Equity Securities, Gross Unrealized Gains	0	0
Equity Securities, Gross Unrealized Losses	(3,729)	(1,594)
Total equity securities	$ 34	$ 2,169

Investments (Major Categories o

Investments (Major Categories of Net Investment Gains (Losses) on Investments) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Gain (Loss) on Securities [Line Items]
(Loss) gain on investments	$ 390,000	$ 175,000	$ 5,612,000	$ 4,376,000
Other-than-temporary impairment	(1,692,000)		(1,692,000)	0
Investment (losses) gains, net	(627,000)	(1,342,000)	(27,899,000)	17,412,000
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Gain (loss) on equity securities			3,471,000
Unrealized gains (losses)	937,000	(1,941,000)	(29,683,000)	11,175,000
Other Investments [Member]
Gain (Loss) on Securities [Line Items]
Unrealized gains (losses)	(262,000)	424,000	(2,136,000)	1,861,000
U.S. Treasury Securities and Obligations of U.S. Government [Member] | Debt Securities [Member]
Gain (Loss) on Securities [Line Items]
Gain (loss) on debt securities	(3,000)		(3,000)
Corporate Bonds [Member] | Debt Securities [Member]
Gain (Loss) on Securities [Line Items]
Gain (loss) on debt securities	352,000	154,000	766,000	171,000
Collateralized Corporate Bank Loans [Member] | Debt Securities [Member]
Gain (Loss) on Securities [Line Items]
Gain (loss) on debt securities	66,000	(103,000)	(19,000)	(65,000)
Municipal Bonds [Member] | Debt Securities [Member]
Gain (Loss) on Securities [Line Items]
Gain (loss) on debt securities	$ (25,000)	$ 124,000	$ 1,397,000	4,271,000
Mortgage Backed [Member] | Debt Securities [Member]
Gain (Loss) on Securities [Line Items]
Gain (loss) on debt securities				$ (1,000)

Investments (Summary of Gross U

Investments (Summary of Gross Unrealized Gain (Loss) on Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments, Unrealized Loss Position, Fair Value
Investments, Fair Value 12 months or less	$ 89,446	$ 53,693
Investments, Fair Value Longer than 12 months	13,071	27,333
Investments, Total Fair Value	102,517	81,026
Investments, Unrealized Losses
Investments, Unrealized Losses 12 months or less	(6,828)	(2,678)
Investments, Unrealized Losses Longer than 12 months	(5,817)	(7,525)
Investments, Total Unrealized Losses	(12,645)	(10,203)
Debt Securities [Member]
Debt Securities, Unrealized Loss Position, Fair Value
Debt securities, Fair Value 12 months or less	79,181	42,788
Debt securities, Fair Value Longer than 12 months	11,102	19,071
Debt securities, Total Fair Value	90,283	61,859
Debt securities, Unrealized Losses
Debt securities, Unrealized Losses 12 months or less	(2,641)	(315)
Debt securities, Unrealized Losses Longer than 12 months	(923)	(586)
Debt securities, Total Unrealized Losses	3,564	901
Debt Securities [Member] | U.S. Treasury Securities and Obligations of U.S. Government [Member]
Debt Securities, Unrealized Loss Position, Fair Value
Debt securities, Fair Value 12 months or less	18,091	0
Debt securities, Fair Value Longer than 12 months	0	5,513
Debt securities, Total Fair Value	18,091	5,513
Debt securities, Unrealized Losses
Debt securities, Unrealized Losses 12 months or less	(2)	0
Debt securities, Unrealized Losses Longer than 12 months	0	(3)
Debt securities, Total Unrealized Losses	2	3
Debt Securities [Member] | Corporate Bonds [Member]
Debt Securities, Unrealized Loss Position, Fair Value
Debt securities, Fair Value 12 months or less	8,982	27,268
Debt securities, Fair Value Longer than 12 months	4,071	1,150
Debt securities, Total Fair Value	13,053	28,418
Debt securities, Unrealized Losses
Debt securities, Unrealized Losses 12 months or less	(1,035)	(144)
Debt securities, Unrealized Losses Longer than 12 months	(246)	(19)
Debt securities, Total Unrealized Losses	1,281	163
Debt Securities [Member] | Collateralized Corporate Bank Loans [Member]
Debt Securities, Unrealized Loss Position, Fair Value
Debt securities, Fair Value 12 months or less	49,558	9,000
Debt securities, Fair Value Longer than 12 months	5,638	10,228
Debt securities, Total Fair Value	55,196	19,228
Debt securities, Unrealized Losses
Debt securities, Unrealized Losses 12 months or less	(1,571)	(41)
Debt securities, Unrealized Losses Longer than 12 months	(654)	(427)
Debt securities, Total Unrealized Losses	2,225	468
Debt Securities [Member] | Municipal Bonds [Member]
Debt Securities, Unrealized Loss Position, Fair Value
Debt securities, Fair Value 12 months or less	2,550	4,808
Debt securities, Fair Value Longer than 12 months	1,379	1,618
Debt securities, Total Fair Value	3,929	6,426
Debt securities, Unrealized Losses
Debt securities, Unrealized Losses 12 months or less	(33)	(29)
Debt securities, Unrealized Losses Longer than 12 months	(18)	(19)
Debt securities, Total Unrealized Losses	51	48
Debt Securities [Member] | Mortgage Backed [Member]
Debt Securities, Unrealized Loss Position, Fair Value
Debt securities, Fair Value 12 months or less	0	1,712
Debt securities, Fair Value Longer than 12 months	14	562
Debt securities, Total Fair Value	14	2,274
Debt securities, Unrealized Losses
Debt securities, Unrealized Losses 12 months or less	0	(101)
Debt securities, Unrealized Losses Longer than 12 months	(5)	(118)
Debt securities, Total Unrealized Losses	5	219
Equity Securities [Member]
Equity Securities, Unrealized Loss Position, Fair Value
Equity securities, Fair Value 12 months or less	10,265	10,905
Equity securities, Fair Value Longer than 12 months	1,935	6,093
Equity securities, Total Fair Value	12,200	16,998
Equity Securities, Unrealized Loss
Equity securities, Unrealized Losses 12 months or less	(4,187)	(2,363)
Equity securities, Unrealized Losses Longer than 12 months	(1,165)	(5,345)
Equity securities, Total Unrealized Losses	(5,352)	(7,708)
Other Investments [Member]
Equity Securities, Unrealized Loss Position, Fair Value
Equity securities, Fair Value 12 months or less	0	0
Equity securities, Fair Value Longer than 12 months	34	2,169
Equity securities, Total Fair Value	34	2,169
Equity Securities, Unrealized Loss
Equity securities, Unrealized Losses 12 months or less	0	0
Equity securities, Unrealized Losses Longer than 12 months	(3,729)	(1,594)
Equity securities, Total Unrealized Losses	$ (3,729)	$ (1,594)

Investments (Carrying Value of

Investments (Carrying Value of Other Invested Assets Portfolio) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments [Abstract]
Equity warrant	$ 34	$ 2,169
Total other investments	$ 34	$ 2,169

Investments (Schedule of Amorti

Investments (Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, Due in one year or less	$ 113,961
Amortized Cost, Due after one year through five years	248,003
Amortized Cost, Due after five years through ten years	32,766
Amortized Cost, Amortized Cost Due after ten years	13,467
Debt Maturities, Amortized Cost	414,197	$ 569,498
Fair Value, Due in one year or less	115,144
Fair Value, Due after one year through five years	250,693
Fair Value, Due after five years through ten years	31,560
Fair Value, Due after ten years	14,055
Fair Value	417,569	$ 574,279
Mortgage Backed [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Maturities, Amortized Cost	6,000
Fair Value	$ 6,117

Investments (Narrative) (Detail

Investments (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)security	Sep. 30, 2019USD ($)security	Sep. 30, 2020USD ($)security	Sep. 30, 2019USD ($)security	Dec. 31, 2019security
Schedule of Available-for-sale Securities [Line Items]
Gross gains on investments	$ 500,000	$ 500,000	$ 22,400,000	$ 4,900,000
Gross losses on investments	100,000	300,000	16,800,000	500,000
Proceeds from sale of investment securities	47,400,000	$ 6,000,000	155,000,000	13,000,000
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Other-than-temporary impairment	$ 1,692,000		$ 1,692,000	0
Realized gains on sale of securities				$ 4,100,000
Number of securities sold | security		6		6
Debt Securities [Member]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Number of debt securities with unrealized loss | security	84		84		61
Number of debt securities with unrealized loss, less than 12 months | security	68		68		41
Number of debt securities with unrealized loss, greater than 12 months | security	16		16		20

Pledged Investments (Narrative)

Pledged Investments (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Pledged Investments [Abstract]
Securities available-for-sale pledged, carrying value	$ 26.8	$ 28.9

Reserves for Unpaid Losses an_3

Reserves for Unpaid Losses and Loss Adjustment Expenses (Activity in the Reserves for Unpaid Losses and Loss Adjustment Expense) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]
Balance at January 1	$ 620,355	$ 527,247
Less reinsurance recoverable	272,604	221,716
Net balance at January 1	347,751	305,531
Incurred related to:
Current year	257,572	214,080
Loss portfolio transfer	21,700	0
Prior years	33,259	7,781
Total incurred	312,531	221,861
Paid related to:
Current year	67,146	75,834
Loss portfolio transfer	21,700	0
Prior years	177,325	146,929
Total paid	266,171	222,763
Net balance at September 30	394,111	304,629
Plus reinsurance recoverable	361,780	260,667
Balance at September 30	$ 755,891	$ 565,296

Reserves for Unpaid Losses an_4

Reserves for Unpaid Losses and Loss Adjustment Expenses (Causes for Prior Accident Year Reserve Development by Segment) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Total unfavorable (favorable) net prior year development	$ 33,259	$ 7,781
Specialty Commercial Segment [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Total unfavorable (favorable) net prior year development	23,961	11,232
Standard Commercial Segment [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Total unfavorable (favorable) net prior year development	2,350	(3,508)
Personal Segment [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Total unfavorable (favorable) net prior year development	6,948	57
Corporate [Member]
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Total unfavorable (favorable) net prior year development	$ 0	$ 0

Share-Based Payment Arrangeme_3

Share-Based Payment Arrangements (Narrative) (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)shares	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)itemshares	Sep. 30, 2019USD ($)shares	Dec. 31, 2019$ / shares	Dec. 31, 2018$ / shares	Dec. 31, 2017$ / shares	Dec. 31, 2016$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, Granted | shares			0	0
Long Term Incentive Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of incentive stock options outstanding | shares			0
Share-based compensation arrangement by share-based payment award, non-qualified stock options to purchase number of shares | shares			14,157
Long-Term Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized | shares	2,000,000		2,000,000
Share-based compensation arrangement by share-based payment award, restricted stock options to purchase number of shares | shares			362,794
Stock options, Granted | shares			0
Long Term Incentive Plan 2005 and 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 0		$ 0
Non Qualified Stock Options [Member] | Long Term Incentive Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage			100.00%
Stock-based compensation incentive stock options grant under incentive plan termination period			10 years
Share-based payment, award vesting period			6 months
Number of options vested or expected to vest | shares	200,000		200,000
Non Qualified Stock Options [Member] | Long Term Incentive Plan 2005 [Member] | First Seven Anniversary Dates [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of anniversary dates | item			7
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 1,400		$ 1,400
Allocated share-based compensation expense	154	$ 317	(416)	$ 514
Income tax benefit of share-based payments recognized in income	32	$ 67	(88)	$ 108
Employee Service Share-based Compensation Nonvested Awards, Total Compensation Cost Expected to Recognized			400
Remainder of 2020	100		100
2021	200		200
2022	$ 100		$ 100
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of restricted stock units granted as result of meeting growth rates	50.00%		50.00%
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of restricted stock units granted as result of meeting growth rates	150.00%		150.00%
Restricted Stock Units (RSUs) [Member] | Long Term Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options, grant date fair value | $ / shares					$ 18.10	$ 10.87	$ 10.20	$ 11.41

Share-Based Payment Arrangeme_4

Share-Based Payment Arrangements (Summary of the Status of Stock Options) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-Based Payment Arrangements [Abstract]
Stock Options, Outstanding at January 1, 2020	14,157
Stock options, Granted	0	0
Stock Options, Exercised	0
Stock Options, Forfeited or Expired	0
Stock Options, Outstanding at September 30, 2020	14,157
Stock Options, Exercisable at September 30, 2020	14,157
Weighted Average Exercise Price, Outstanding at January 1, 2020	$ 6.99
Weighted Average Exercise Price, Granted	0
Weighted Average Exercise Price, Exercised	0
Weighted Average Exercise Price, Forfeited or Expired	0
Weighted Average Exercise Price, Outstanding at September 30, 2020	6.99
Weighted Average Exercise Price, Exercisable at September 30, 2020	$ 6.99
Average Remaining Contractual Term, Outstanding at September 30, 2020	1 year 3 months 18 days
Average Remaining Contractual Term, Exercisable at September 30, 2020	1 year 3 months 18 days
Aggregate Intrinsic Value, Outstanding at September 30, 2020
Aggregate Intrinsic Value, Exercisable at September 30, 2020

Share-Based Payment Arrangeme_5

Share-Based Payment Arrangements (Schedule of Options, Grants in Period and Grant Date Intrinsic Value) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of share-based payments (non-cash)			$ (416)	$ 514
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	$ 0	$ 0	0	845
Cost of share-based payments (non-cash)	0	0	0	0
Income tax benefit of share-based payments recognized in income	$ 0	$ 0	$ 0	$ 0

Share-Based Payment Arrangeme_6

Share-Based Payment Arrangements (Summary of the Status of Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member] - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested at January 1	353,491	338,897
Granted	0	97,804
Vested	(19,065)	0
Forfeited	(92,563)	(83,210)
Nonvested at September 30	241,863	353,491

Segment Information (Schedule o

Segment Information (Schedule of Business Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues [Abstract]
Revenues	$ 123,133	$ 118,285	$ 356,833	$ 357,309
Pre-Tax Income (Loss) [Abstract]
Pre-tax (loss) income	(37,306)	6,660	(101,309)	42,062
Specialty Commercial Segment [Member]
Revenues [Abstract]
Revenues	86,589	81,341	269,833	222,900
Pre-Tax Income (Loss) [Abstract]
Pre-tax (loss) income	(26,751)	14,766	(4,577)	33,161
Standard Commercial Segment [Member]
Revenues [Abstract]
Revenues	17,398	16,344	52,130	52,027
Pre-Tax Income (Loss) [Abstract]
Pre-tax (loss) income	(1,672)	62	(154)	3,626
Personal Segment [Member]
Revenues [Abstract]
Revenues	20,513	22,943	65,300	65,542
Pre-Tax Income (Loss) [Abstract]
Pre-tax (loss) income	(2,065)	(740)	(5,836)	3,274
Corporate [Member]
Revenues [Abstract]
Revenues	(1,367)	(2,343)	(30,430)	16,840
Pre-Tax Income (Loss) [Abstract]
Pre-tax (loss) income	$ (6,818)	$ (7,428)	$ (90,742)	$ 2,001

Segment Information (Schedule_2

Segment Information (Schedule of Additional Business Segment Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Assets	$ 1,497,507	$ 1,495,274
Specialty Commercial Segment [Member]
Segment Reporting Information [Line Items]
Assets	1,117,057	1,082,804
Standard Commercial Segment [Member]
Segment Reporting Information [Line Items]
Assets	182,977	193,710
Personal Segment [Member]
Segment Reporting Information [Line Items]
Assets	137,108	164,685
Corporate [Member]
Segment Reporting Information [Line Items]
Assets	$ 60,365	$ 54,075

Reinsurance (Schedule of Reinsu

Reinsurance (Schedule of Reinsurance Ceded and Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reinsurance [Abstract]
Ceded earned premiums	$ 80,447	$ 83,242	$ 250,240	$ 229,697
Reinsurance recoveries	$ 64,697	$ 50,564	$ 217,814	$ 158,128

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	Jul. 16, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Effects of Reinsurance [Line Items]
Ceded premiums written		$ 80,353	$ 96,405	$ 230,094	$ 260,711
Reinsurance Recoverables		504,500		504,500
LPT
Effects of Reinsurance [Line Items]
Pre-tax loss		21,700
Policyholder benefits and claims incurred, ceded	$ 240,000
Ceded premiums written	92,600
Payments for Deposits with Other Institutions	96,700
Reinsurance contract, ultimate incurred losses				157,900
Reinsurance contract in excess of the first layer				6,700
Reinsurance contract, retained losses				24,900
Reinsurance Recoverables		$ 72,800		$ 72,800
First Layer Of Reinsurance By DARAG Bermuda [Member] | LPT
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Excess Retention, Amount Reinsured	151,200
Reinsurance Retention Policy, Amount Retained	24,900
Second Layer Of Reinsurance By DARAG Bermuda [Member] | LPT
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Amount Retained	27,800
Top Layer Of Reinsurance By DARAG Guernsey [Member] | LPT
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Amount Retained	$ 36,100

Revolving Credit Facility (Narr

Revolving Credit Facility (Narrative) (Details) - USD ($) $ in Thousands	Aug. 19, 2019	Sep. 30, 2020	Sep. 30, 2019
Line of Credit Facility [Line Items]
Payment of revolving credit facility			$ 30,000
Facility A Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility		$ 15,000
Unused capacity, commitment fee percentage		0.25%
Facility A Revolving Credit Sub-Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility		$ 5,000
Unused capacity, commitment fee percentage		1.00%
Facility B Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility		$ 30,000
Unused capacity, commitment fee percentage		0.25%
Payment of revolving credit facility	$ 30,000
London Interbank Offered Rate (LIBOR) [Member] | Facility A Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Interest rate		2.50%
London Interbank Offered Rate (LIBOR) [Member] | Facility B Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage		3.00%

Subordinated Debt Securities (S

Subordinated Debt Securities (Summary of the Nature and Terms of the Junior Subordinated Debt and Trust) (Details) - USD ($) shares in Thousands, $ in Thousands	Aug. 23, 2007	Jun. 21, 2005	Sep. 30, 2020
Hallmark Statutory Trust I [Member]
Subordinated Borrowing [Line Items]
Principal amount of trust preferred securities	$ 25,000	$ 30,000
Hallmark Statutory Trust I [Member] | Junior subordinated debt
Subordinated Borrowing [Line Items]
Issue date		Jun. 21, 2005
Principal amount of trust preferred securities		$ 30,000
Principal amount of junior subordinated debt securities		$ 30,928
Maturity date of junior subordinated debt securities		Jun. 15, 2035
Trust common stock		928
Debt instrument, basis spread on variable rate		3.25%
Interest rate, per annum		Three Month LIBOR + 3.25%
Current interest rate			3.50%
Hallmark Statutory Trust II [Member] | Junior subordinated debt
Subordinated Borrowing [Line Items]
Issue date	Aug. 23, 2007
Principal amount of trust preferred securities	$ 25,000
Principal amount of junior subordinated debt securities	$ 25,774
Maturity date of junior subordinated debt securities	Sep. 15, 2037
Trust common stock	774
Debt instrument, basis spread on variable rate	2.90%
Interest rate, per annum	Three Month LIBOR + 2.90%
Current interest rate			3.15%

Senior Unsecured Notes (Details

Senior Unsecured Notes (Details) - Senior unsecured notes ("Notes") due August 15, 2029 $ in Millions	Aug. 19, 2019USD ($)
Debt Instrument [Line Items]
Principal amount	$ 50
Interest rate	6.25%
Debt to capital ratio	35.00%
Minimum [Member]
Debt Instrument [Line Items]
Statutory surplus	$ 50

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Deferred Amortized Policy Acquisition Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Document and Entity Information [Abstract]
Deferred, additions		$ 8,247
Deferred, dispositions	$ (20,939)		$ (45,342)	$ (39,300)
Amortized	21,684	(9,843)	45,971	31,687
Net	$ 745	$ (1,596)	$ 629	$ (7,613)

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Earnings per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	14,157	14,157

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings per Share [Abstract]
Weighted average shares - basic	18,142	18,123	18,136	18,101
Effect of dilutive securities	0	172	0	182
Weighted average shares - assuming dilution	18,142	18,295	18,136	18,283

Net Periodic Pension Cost (Sche

Net Periodic Pension Cost (Schedule of Net Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Plans
Interest cost	$ 89	$ 113	$ 266	$ 340
Amortization of net loss	34	36	104	108
Expected return on plan assets	(171)	(149)	(513)	(448)
Net periodic pension cost	(48)	0	(143)	0
Contributed amount	$ 0	$ 500	$ 0	$ 500

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Taxes [Abstract]
Effective income tax rate, continuing operations	15.50%	20.70%

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Reconciliation of Cash, Cash Equivalents and Restricted Cash to Statement of Cash Flows) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
Cash and cash equivalents	$ 186,683	$ 53,336	$ 64,045
Restricted cash	17,671	1,612	1,697
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 204,354	$ 54,948	$ 65,742	$ 40,471

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]
Interest paid	$ 4,845	$ 3,911
Income taxes paid	654	5,449
Receivable for securities related to investment disposals	1,568	6,351
Payable for securities related to investment purchases	$ 507	$ 1,952

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	May 05, 2020USD ($)
Commitments and Contingencies [Abstract]
Net adverse loss development	$ 63,800,000

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income Balances (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			$ 688
Other comprehensive income (loss):
Change in net actuarial gain	$ 35	$ 36	104	$ 108
Tax effect on change in net actuarial gain	(8)	(8)	(22)	(23)
Unrealized holding gains arising during the period	2,706	1,777	4,149	13,010
Tax effect on unrealized gains arising during the period	(568)	(373)	(872)	(2,732)
Reclassification adjustment for gains included in net income (loss)	(390)	(175)	(5,612)	(4,376)
Tax effect on reclassification adjustment for gains included in income (loss)	82	36	1,179	919
Other comprehensive income (loss), net of tax	1,857	1,293	(1,074)	6,906
Ending Balance	(386)		(386)
Pension Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(3,239)	(3,334)
Other comprehensive income (loss):
Change in net actuarial gain			104	108
Tax effect on change in net actuarial gain			(22)	(23)
Other comprehensive income (loss), net of tax			82	85
Ending Balance	(3,157)	(3,249)	(3,157)	(3,249)
Unrealized Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			3,927	(3,326)
Other comprehensive income (loss):
Unrealized holding gains arising during the period			4,149	13,010
Tax effect on unrealized gains arising during the period			(872)	(2,732)
Reclassification adjustment for gains included in net income (loss)			(5,612)	(4,376)
Tax effect on reclassification adjustment for gains included in income (loss)			1,179	919
Other comprehensive income (loss), net of tax			(1,156)	6,821
Ending Balance	2,771	3,495	2,771	3,495
Accumulated Other Comprehensive (Loss) Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			688	(6,660)
Other comprehensive income (loss):
Change in net actuarial gain			104	108
Tax effect on change in net actuarial gain			(22)	(23)
Unrealized holding gains arising during the period			4,149	13,010
Tax effect on unrealized gains arising during the period			(872)	(2,732)
Reclassification adjustment for gains included in net income (loss)			(5,612)	(4,376)
Tax effect on reclassification adjustment for gains included in income (loss)			1,179	919
Other comprehensive income (loss), net of tax			(1,074)	6,906
Ending Balance	$ (386)	$ 246	$ (386)	$ 246

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020
Lessee, Lease, Description [Line Items]
Lease, Practical Expedients		true
Options to extend		true
Sublease income	$ 45
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term	13 years	13 years

Leases (Components of Lease Exp

Leases (Components of Lease Expense and Other Lease Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 750	$ 790	$ 2,291	$ 2,146
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases	758	392	1,749	1,495
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0	$ 0	$ 0	$ 0

Leases (Component of Lease and

Leases (Component of Lease and Other Information) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 14,467	$ 16,044
Operating lease liabilities	$ 16,348	$ 17,347
Weighted-average remaining lease term - operating leases	10 years 3 months 18 days	10 years 7 months 6 days
Weighted-average discount rate - operating leases	5.87%	5.88%
Short-term lease payments	$ 12

Leases (Maturities) (Details)

Leases (Maturities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Future minimum lease payments under non-cancellable leases:
2020	$ 724	$ 2,473
2021	2,172	2,172
2022	2,171	2,171
2023	1,885	1,885
2024	1,941	1,941
Thereafter	13,325	13,325
Total future minimum lease payments	22,218	23,967
Less imputed interest	(5,870)	(6,620)
Total operating lease liability	16,348	$ 17,347
Future minimum sublease rentals	$ 433