National Security (NSEC) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	0-18649
Entity Registrant Name	National Security Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	63-1020300
Entity Address, Address Line One	661 East Davis Street
Entity Address, City or Town	Elba,
Entity Address, State or Province	AL
Entity Address, Postal Zip Code	36323
City Area Code	334
Local Phone Number	897-2273
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	NSEC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,532,632
Entity Central Index Key	0000865058
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments
Fixed maturities held-to-maturity, at amortized cost (estimated fair value: 2021 - $682; 2020 - $946)	$ 632	$ 873
Fixed maturities available-for-sale, at estimated fair value (cost: 2021 - $92,593; 2020 - $76,241)	95,920	81,399
Equity securities, at estimated fair value (cost: 2021 - $1,761; 2020 - $1,918)	4,837	4,750
Trading securities	183	169
Receivable for securities sold	0	3
Mortgage loans on real estate, at cost	143	145
Investment real estate, at book value	2,934	2,934
Policy loans	1,782	1,846
Company owned life insurance	5,024	4,998
Other invested assets	1,740	2,033
Total Investments	113,195	99,150
Cash and cash equivalents	9,285	19,887
Accrued investment income	762	575
Policy receivables and agents' balances, net	15,101	12,345
Reinsurance recoverable	11,931	6,874
Deferred policy acquisition costs	7,621	7,408
Property and equipment, net	1,516	1,572
Income tax recoverable	1,637	1,311
Deferred income tax asset, net	1,250	706
Other assets	961	712
Total Assets	163,259	150,540
LIABILITIES AND SHAREHOLDERS' EQUITY
Property and casualty benefit and loss reserves	18,981	10,177
Accident and health benefit and loss reserves	4,316	4,144
Life and annuity benefit and loss reserves	34,922	34,731
Unearned premiums	36,314	31,166
Policy and contract claims	1,290	1,309
Other policyholder funds	1,365	1,342
Short-term notes payable and current portion of long-term debt	500	500
Long-term debt	13,186	13,177
Other liabilities	9,367	8,628
Total Liabilities	120,241	105,174
Contingencies
Shareholders' equity
Common stock	2,535	2,533
Additional paid-in capital	5,650	5,626
Accumulated other comprehensive income	2,628	3,585
Retained earnings	32,248	33,665
Treasury stock, at cost	(43)	(43)
Total Shareholders' Equity	43,018	45,366
Total Liabilities and Shareholders' Equity	$ 163,259	$ 150,540

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments
Fixed maturities held-to-maturity, at estimated fair value	$ 682	$ 946
Fixed maturities available-for-sale, at cost	92,593	76,241
Equity securities, cost	$ 1,761	$ 1,918

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
REVENUES
Net premiums earned	$ 15,681	$ 15,289	$ 45,557	$ 45,416
Net investment income	852	884	2,523	2,809
Investment gains	11	1,430	752	988
Other income	127	162	394	450
Total Revenues	16,671	17,765	49,226	49,663
BENEFITS, LOSSES AND EXPENSES
Policyholder benefits and settlement expenses	11,773	13,303	32,785	40,622
Amortization of deferred policy acquisition costs	855	836	2,656	2,749
Commissions	2,066	1,493	5,901	5,615
General and administrative expenses	1,983	2,312	6,853	6,199
Taxes, licenses and fees	632	604	1,796	1,919
Interest expense	171	200	462	660
Total Benefits, Losses and Expenses	17,480	18,748	50,453	57,764
Loss Before Income Taxes	(809)	(983)	(1,227)	(8,101)
INCOME TAX BENEFIT
Current	65	21	24	(1,312)
Deferred	(230)	(226)	(290)	(425)
Total income tax expense	(165)	(205)	(266)	(1,737)
Net Loss	$ (644)	$ (778)	$ (961)	$ (6,364)
INCOME (LOSS) PER COMMON SHARE BASIC (in dollars per share)	$ (0.25)	$ (0.30)	$ (0.38)	$ (2.51)
INCOME (LOSS) PER COMMON SHARE DILUTED (in dollars per share)			(0.38)	(2.51)
DIVIDENDS DECLARED PER SHARE (in dollars per share)	$ 0.06	$ 0.06	$ 0.18	$ 0.18

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (644)	$ (778)	$ (961)	$ (6,364)
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on securities, net of reclassification adjustment of $84 and $1,063 for 2021 and 2020, respectively	(415)	(486)	(1,446)	1,009
Unrealized gain (loss) on interest rate swap	0	39	489	(580)
Other comprehensive income (loss), net of tax	(415)	(447)	(957)	429
Comprehensive loss	$ (1,059)	$ (1,225)	$ (1,918)	$ (5,935)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Reclassification adjustment	$ 84	$ 1,063

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock	Additional Paid-in Capital	Treasury Stock
Balance at Dec. 31, 2019	$ 53,461	$ 42,891	$ 2,443	$ 2,532	$ 5,602	$ (7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock reacquired	(34)					(34)
Comprehensive income (loss):
Net loss	(6,364)	(6,364)
Other comprehensive loss (net of tax)	429		429
Common stock issued	25			1	24
Cash dividends	(455)	(455)
Balance at Sep. 30, 2020	47,062	36,072	2,872	2,533	5,626	(41)
Balance at Dec. 31, 2019	53,461	42,891	2,443	2,532	5,602	(7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock reacquired	(36)
Comprehensive income (loss):
Net loss	(8,619)
Other comprehensive loss (net of tax)	1,142
Common stock issued	25
Cash dividends	(607)
Balance at Dec. 31, 2020	45,366	33,665	3,585	2,533	5,626	(43)
Balance at Jun. 30, 2020	48,451	37,001	3,319	2,533	5,626	(28)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock reacquired	(13)					(13)
Comprehensive income (loss):
Net loss	(778)	(778)
Other comprehensive loss (net of tax)	(447)		(447)
Cash dividends	(151)	(151)
Balance at Sep. 30, 2020	47,062	36,072	2,872	2,533	5,626	(41)
Balance at Dec. 31, 2020	45,366	33,665	3,585	2,533	5,626	(43)
Comprehensive income (loss):
Net loss	(961)	(961)
Other comprehensive loss (net of tax)	(957)		(957)
Common stock issued	26			2	24
Cash dividends	(456)	(456)
Balance at Sep. 30, 2021	43,018	32,248	2,628	2,535	5,650	(43)
Balance at Jun. 30, 2021	44,229	33,044	3,043	2,535	5,650	(43)
Comprehensive income (loss):
Net loss	(644)	(644)
Other comprehensive loss (net of tax)	(415)		(415)
Cash dividends	(152)	(152)
Balance at Sep. 30, 2021	$ 43,018	$ 32,248	$ 2,628	$ 2,535	$ 5,650	$ (43)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities
Net loss	$ (961)	$ (6,364)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense and amortization/accretion, net	176	221
Net gains on investments	(752)	(988)
Deferred income taxes	(290)	(425)
Amortization of deferred policy acquisition costs	2,656	2,749
Changes in assets and liabilities:
Change in receivable for securities sold	3	53
Change in accrued investment income	(187)	5
Change in reinsurance recoverable	(5,057)	(9,087)
Policy acquisition costs deferred	(2,869)	(2,794)
Change in accrued income taxes	(326)	(1,543)
Change in net policy liabilities and claims	11,527	5,762
Change in other assets/liabilities, net	1,367	220
Other, net	14	(29)
Net cash provided by (used in) operating activities	5,301	(12,220)
Cash Flows from Investing Activities
Available-for-sale securities	(32,162)	(16,068)
Trading securities and short-term investments	(1)	(2)
Property and equipment	(17)	(32)
Held-to-maturity securities	295	295
Available-for-sale securities	16,342	31,697
Real estate held for investment	0	3
Property and equipment	7	0
Other invested assets, net	66	39
Net cash provided by (used in) investing activities	(15,470)	15,932
Cash Flows from Financing Activities
Change in other policyholder funds	23	(9)
Dividends paid	(456)	(455)
Net cash used in financing activities	(433)	(464)
Net change in cash and cash equivalents	(10,602)	3,248
Cash and cash equivalents, beginning of period	19,887	11,809
Cash and cash equivalents, end of period	$ 9,285	$ 15,057

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of The National Security Group, Inc. (the Company) and its wholly-owned subsidiaries: National Security Insurance Company (NSIC), National Security Fire and Casualty Company (NSFC) and NATSCO, Inc. (NATSCO). NSFC includes a wholly-owned subsidiary, Omega One Insurance Company (Omega). The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the condensed consolidated financial statements have been included. All significant intercompany transactions and accounts have been eliminated in the condensed consolidated financial statements. The financial information presented herein should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which includes information and disclosures not presented herein. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Among the more significant estimates included in these condensed consolidated financial statements are reserves for future life insurance policy benefits, liabilities for losses and loss adjustment expenses, reinsurance recoverable associated with loss and loss adjustment expense liabilities, deferred policy acquisition costs, deferred income tax assets and liabilities, assessments of other-than-temporary impairments on investments and accruals for contingencies. Actual results could differ from the estimates used in preparing these condensed consolidated financial statements. Earnings Per Share Earnings per share of common stock is based on the weighted average number of shares outstanding during each year. The adjusted weighted average shares outstanding were 2,531,472 at September 30, 2021 and 2,530,736 at September 30, 2020. The Company did not have any dilutive securities as of September 30, 2021 and 2020. Concentration of Credit Risk The Company maintains cash balances which are generally held in non-interest bearing demand deposit accounts subject to FDIC insured limits of $250,000 per entity. At September 30, 2021, the net amount exceeding FDIC insured limits was $10,042,000 at three financial institutions. The Company has not experienced any losses in such accounts. Management of the Company reviews financial information of financial institutions on a quarterly basis and believes the Company is not exposed to any significant credit risk on cash and cash equivalents. Policy receivables are reported at unpaid balances. Policy receivables are generally offset by associated unearned premium liabilities and are not subject to significant credit risk. Receivables from agents, less provision for credit losses, are composed of balances due from independent agents. At September 30, 2021, the single largest balance due from one agent totaled $45,000. Reinsurance contracts do not relieve the Company of its obligations to policyholders. A failure of a reinsurer to meet its obligation could result in losses to the insurance subsidiaries. Allowances for losses on reinsurance recoverables are established if amounts are believed to be uncollectible. At September 30, 2021 and December 31, 2020, no amounts were deemed uncollectible. The Company, at least annually, evaluates the financial condition of all reinsurers and evaluates any potential concentrations of credit risk. At September 30, 2021, management does not believe the Company is exposed to any significant credit risk related to its reinsurance program. Accounting Changes Not Yet Adopted Reference Rate Reform In March 2020, the Financial Accounting Standards Board (FASB) issued guidance that provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The Company has exposure to LIBOR based financial instruments through its subordinated debentures. The contracts with respect to these borrowings contain alternative reference rates that would automatically take effect upon the phasing out of LIBOR and would not materially change the liability exposure. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is evaluating the optional expedients and exceptions in the guidance but does not expect the adoption of this guidance to have a material impact on its financial position or results of operations. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. The guidance improves timeliness of recognizing changes in the liability for future policy benefits and modifies the rate used to discount future cash flows. The guidance will simplify and improve accounting for certain market-based options or guarantees associated with deposit type contracts and simplify the amortization of deferred policy acquisition costs. The guidance also introduces certain financial statement presentation requirements, as well as significant additional quantitative and qualitative disclosures. The guidance is effective for fiscal years beginning after December 15, 2024 and interim periods within those fiscal years beginning after December 15, 2025. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. Due to the nature and extent of the changes required to the Company’s life insurance operations, the adoption of this standard is expected to have a material impact on the consolidated financial statements. Financial Instruments - Credit Losses In June 2016, the FASB issued guidance that replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB released additional guidance in November 2018 that provides scope clarification. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Recently Adopted Accounting Standards Simplifying the Accounting for Income Taxes In December 2019, the FASB issued guidance to simplify the accounting for income taxes. The guidance removes certain exceptions to general principles in the income tax guidance and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020. The Company adopted this guidance on January 1, 2021. The adoption of this guidance did not have a material impact on its financial position or results of operations.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2021
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company holds passive interests in limited partnerships that are considered to be Variable Interest Entities (VIE) under the provisions of ASC 810 Consolidation . The Company is not the primary beneficiary of the entities and is not required to consolidate under ASC 810. The entities are private placement investment funds formed for the purpose of investing in private equity investments. The Company owns less than 1% of the limited partnerships. The carrying value of the investments totals $556,000 at September 30, 2021 ($460,000 at December 31, 2020) and is included as a component of Other Invested Assets in the accompanying condensed consolidated balance sheets. In December 2005, the Company formed National Security Capital Trust I, a statutory trust created under the Delaware Statutory Trust Act, for the sole purpose of issuing, in private placement transactions, $9,000,000 of trust preferred securities (TPS) and using the proceeds thereof, together with the equity proceeds received from the Company in the initial formation of the Trust, to purchase $9,279,000 of variable rate subordinated debentures issued by the Company. The Company owns all voting securities of the Trust and the subordinated debentures are the sole assets of the Trust. The Trust will meet the obligations of the TPS with the interest and principal paid on the subordinated debentures. The Company received net proceeds from the TPS transactions, after commissions and other costs of issuance, of $9,005,000. The Company also holds all the voting securities issued by the Trust and such trusts are considered to be VIE's. The Trust is not consolidated because the Company is not the primary beneficiary of the trust. The Subordinated Debentures, disclosed in Note 7, are reported in the accompanying condensed consolidated balance sheets as a component of long-term debt. The Company's equity investments in the Trust total $279,000 and are included in Other Assets in the accompanying condensed consolidated balance sheets. In June 2007, the Company formed National Security Capital Trust II for the sole purpose of issuing, in private placement transactions, $3,000,000 of trust preferred securities and using the proceeds thereof, together with the equity proceeds received from the Company in the initial formation of the Trust, to purchase $3,093,000 of unsecured junior subordinated deferrable interest debentures. The Company owns all voting securities of the Trust and the subordinated debentures are the sole assets of the Trust. The Trust will meet the obligations of the TPS with the interest and principal paid on the subordinated debentures. The Company received net proceeds from the TPS transactions, after commissions and other costs of issuance, of $2,995,000. The Company also holds all the voting securities issued by the Trust and such trusts are considered to be VIE's. The Trust is not consolidated because the Company is not the primary beneficiary of the Trust. The Subordinated Debentures, disclosed in Note 7, are reported in the accompanying condensed consolidated balance sheets as a component of long-term debt. The Company's equity investments in the Trust total $93,000 and are included in Other Assets in the accompanying condensed consolidated balance sheets.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2021
Investments [Abstract]
INVESTMENTS	INVESTMENTS Our investment in available-for-sale securities, which are reported at fair value, includes fixed maturity securities and equity securities. Net unrealized gains or losses on fixed maturities are reported after-tax as a component of other comprehensive income. Changes in fair value of equity securities are reported in investment gains/losses as a component of net income. The amortized cost and aggregate fair values of investments in available-for-sale securities as of September 30, 2021 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 5,170 $ 219 $ 8 $ 5,381 Agency mortgage backed securities 19,587 432 164 19,855 Asset backed securities 5,933 99 4 6,028 Private label mortgage backed securities 2,954 19 19 2,954 Corporate bonds 50,327 3,017 369 52,975 States, municipalities and political subdivisions 8,622 154 49 8,727 Total Fixed Maturities 92,593 3,940 613 95,920 Equity securities 1,761 3,076 — 4,837 Total $ 94,354 $ 7,016 $ 613 $ 100,757 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of September 30, 2021 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 632 $ 50 $ — $ 682 Total $ 632 $ 50 $ — $ 682 The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2020 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 4,300 $ 323 $ 9 $ 4,614 Agency mortgage backed securities 19,773 919 63 20,629 Asset backed securities 8,233 137 27 8,343 Private label mortgage backed securities 1,418 50 55 1,413 Corporate bonds 35,930 3,771 50 39,651 States, municipalities and political subdivisions 6,587 189 27 6,749 Total Fixed Maturities 76,241 5,389 231 81,399 Equity securities 1,918 2,832 — 4,750 Total $ 78,159 $ 8,221 $ 231 $ 86,149 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2020 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 873 $ 73 $ — $ 946 Total $ 873 $ 73 $ — $ 946 The amortized cost and aggregate fair value of debt securities at September 30, 2021, by contractual maturity, are presented in the following table. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ($ in thousands) Amortized Fair Available-for-sale securities: Due in one year or less $ 1,702 $ 1,725 Due after one year through five years 22,218 23,293 Due after five years through ten years 22,800 23,741 Due after ten years 45,873 47,161 Total $ 92,593 $ 95,920 Held-to-maturity securities: Due after one year through five years $ 10 $ 10 Due after five years through ten years 3 3 Due after ten years 619 669 Total $ 632 $ 682 A summary of securities available-for-sale with unrealized losses as of September 30, 2021, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total September 30, 2021 Fair Gross Fair Gross Fair Gross Total U.S. Government corporations and agencies $ 1,821 $ 8 $ — $ — $ 1,821 $ 8 2 Agency mortgage backed securities 8,272 164 — — 8,272 164 16 Asset backed securities 2,156 4 — — 2,156 4 3 Private label mortgage backed securities 2,019 19 — — 2,019 19 2 Corporate bonds 8,690 369 — — 8,690 369 14 States, municipalities and political subdivisions 2,225 32 789 17 3,014 49 4 $ 25,183 $ 596 $ 789 $ 17 $ 25,972 $ 613 41 There were no securities held-to-maturity with unrealized losses as of September 30, 2021. A summary of securities available-for-sale with unrealized losses as of December 31, 2020, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total December 31, 2020 Fair Gross Fair Gross Fair Gross Total U.S. Government corporations and agencies $ 666 $ 9 $ — $ — $ 666 $ 9 1 Agency mortgage backed securities 2,264 56 2 7 2,266 63 8 Asset backed securities 1,737 27 — — 1,737 27 2 Private label mortgage backed securities 891 55 — — 891 55 1 Corporate bonds 2,467 45 495 5 2,962 50 5 States, municipalities and political subdivisions 1,713 27 — — 1,713 27 3 $ 9,738 $ 219 $ 497 $ 12 $ 10,235 $ 231 20 There were no securities held-to-maturity with unrealized losses as of December 31, 2020. The Company conducts periodic reviews to identify and evaluate securities in an unrealized loss position in order to identify other-than-temporary impairments. For securities in an unrealized loss position, the Company assesses whether the Company has the intent to sell the security or more-likely-than-not will be required to sell the security before the anticipated recovery. If either of these conditions is met, the Company is required to recognize an other-than-temporary impairment with the entire unrealized loss reported in earnings. For securities in an unrealized loss position that do not meet these conditions, the Company assesses whether the impairment of a security is other-than-temporary. If the impairment is determined to be other-than-temporary, the Company is required to separate the other-than-temporary impairments into two components: the amount representing the credit loss and the amount related to all other factors. The credit loss is the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. The credit loss component of other-than-temporary impairments is reported in earnings, whereas the amount relating to factors other than credit losses are recorded in other comprehensive income, net of taxes. Management has evaluated each security in a significant unrealized loss position in the fixed maturity investment portfolio. The Company has no material exposure to sub-prime mortgage loans and approximately 7% of the fixed income investment portfolio is rated below investment grade. Based on a review of the available financial information, the prospect for future earnings of each company and consideration of the Company’s intent and ability to hold the securities until market values recovered, it was determined that the securities in an accumulated loss position in the portfolio were temporary impairments. For the nine months ended September 30, 2021, the Company realized no other-than-temporary impairments. For the year ended December 31, 2020, the Company realized $180,000 other-than-temporary impairments. At September 30, 2021, the three largest losses not realized as an impairment in the fixed maturity portfolio totaled $105,000, $44,000 and $42,000. After evaluation by management, it was determined that each of these losses were driven by changes in market interest rates. Management currently has the intent and ability to hold these investments until recovery so no other-than-temporary impairments were recognized. At December 31, 2020, the three largest losses not realized as an impairment in the fixed maturity portfolio totaled $55,000, $37,000 and $27,000. Major categories of investment income are summarized as follows: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Fixed maturities $ 824 $ 824 $ 2,414 $ 2,696 Equity securities 21 30 91 102 Mortgage loans on real estate 1 1 5 5 Investment real estate — — — 1 Policy loans 34 36 103 108 Other 8 28 23 6 888 919 2,636 2,918 Less: Investment expenses 36 35 113 109 Net investment income $ 852 $ 884 $ 2,523 $ 2,809 Major categories of investment gains (losses) are summarized as follows: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Realized gains on fixed maturities $ — $ 1,091 $ 106 $ 1,107 Realized gains on equity securities — — 357 — Gains (losses) on trading securities — 5 13 (1) Change in fair value of equity securities 46 223 244 (272) Change in surrender value of company owned life insurance (35) 125 26 165 Other gains (losses) principally real estate — (14) 6 (11) Net investment gains $ 11 $ 1,430 $ 752 $ 988 An analysis of the net change in unrealized gains (losses) on available-for-sale securities follows for the nine month periods: ($ in thousands) September 30, September 30, Fixed maturities $ (1,830) $ 1,277 Deferred income tax 384 (268) Change in net unrealized gains (losses) on available-for-sale securities $ (1,446) $ 1,009

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES	FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES Our available-for-sale securities consists of fixed maturity and equity securities which are recorded at fair value in the accompanying condensed consolidated balance sheets. We are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Accounting standards define fair value as the price that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework to make the measurement of fair value more consistent and comparable. In determining fair value, we primarily use prices and other relevant information generated by market transactions involving identical or comparable assets. The Company categorizes assets and liabilities carried at their fair value based upon a fair value hierarchy: Level 1 - Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities consist of money market fund deposits and certain of our marketable debt and equity instruments, including equity instruments offsetting deferred compensation, that are traded in an active market with sufficient volume and frequency of transactions. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets include certain of our marketable debt and equity instruments with quoted market prices that are traded in less active markets or priced using a quoted market price for similar instruments. Level 2 assets also include marketable equity instruments with security-specific restrictions that would transfer to the buyer, marketable debt instruments priced using indicator prices which represent non-binding market consensus prices that can be corroborated by observable market quotes, as well as derivative contracts and debt instruments priced using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Marketable debt instruments in this category generally include commercial paper, bank time deposits, repurchase agreements for fixed-income instruments, and a majority of floating-rate notes, corporate bonds, and municipal bonds. Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Level 3 assets and liabilities include marketable debt instruments, non-marketable equity investments, derivative contracts, and company issued debt with values determined using inputs that are both unobservable and significant to the values of the instruments being measured. Level 3 assets also include marketable debt instruments that are priced using indicator prices that we were unable to corroborate with observable market quotes. Marketable debt instruments in this category generally include asset-backed securities and certain floating-rate notes, corporate bonds, and municipal bonds. Assets/Liabilities Measured at Fair Value on a Recurring Basis Financial assets measured at fair value on a recurring basis as of September 30, 2021 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 5,381 $ 5,381 $ — $ — Agency mortgage backed securities 19,855 12,407 7,448 — Asset backed securities 6,028 2,917 3,111 — Corporate bonds 52,975 — 52,975 — Private label asset backed securities 2,954 — 2,954 — States, municipalities and political subdivisions 8,727 — 8,727 — Trading securities 183 183 — — Equity securities 4,837 3,215 — 1,622 Total Financial Assets $ 100,940 $ 24,103 $ 75,215 $ 1,622 The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below. Fixed maturities available-for-sale — The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Consistent with the fair value hierarchy described above, securities with quoted market prices in active markets for identical assets are reflected within Level 1 while securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Trading securities — Trading securities consist primarily of mutual funds whose fair values are determined consistent with similar instruments described above under “Fixed Maturities” and below under “Equity Securities.” Equity securities — Equity securities consist principally of investments in common and preferred stock of publicly traded companies and privately traded securities. The fair values of our publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for our privately traded equity securities require a substantial level of judgment. Privately traded equity securities are classified within Level 3. Interest rate swaps — Interest rate swaps are recorded at fair value either as assets, within other assets or as liabilities, within other liabilities. The fair values of our interest rate swaps are provided by a third-party broker and are classified within Level 3. As of September 30, 2021, Level 3 fair value measurements of assets include $1,622,000 of equity securities in a local community bank whose value is based on an evaluation of the financial statements of the entity. The Company does not develop the unobservable inputs used in measuring fair value. As of September 30, 2021, there were no liabilities with Level 3 fair value measurements. In 2020, liabilities with Level 3 fair value measurements included various interest rate swap agreements whose value was based on analysis provided by a third party that utilizes financial modeling tools and assumptions on interest and other factors. The Company does not develop the unobservable inputs used in measuring fair value. Additional information regarding the interest rate swap agreements is provided in Note 7. The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2021: ($ in thousands) For the nine months ended September 30, 2021 Equity Securities Interest Rate Swap Beginning balance $ 1,502 $ (619) Total gains or losses (realized and unrealized): Included in earnings 120 — Included in other comprehensive income — 619 Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,622 $ — The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of September 30, 2021: $ 120 $ — For the nine months ended September 30, 2021, there were no assets or liabilities measured at fair values on a nonrecurring basis. Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 4,614 $ 4,614 $ — $ — Agency mortgage backed securities 20,629 12,044 8,585 — Asset backed securities 8,343 2,343 6,000 — Corporate bonds 39,651 — 39,651 — Private label asset backed securities 1,413 891 522 — States, municipalities and political subdivisions 6,749 — 6,749 — Trading securities 169 169 — — Equity securities available-for-sale 4,750 3,248 — 1,502 Total Financial Assets $ 86,318 $ 23,309 $ 61,507 $ 1,502 Financial Liabilities Interest rate swap $ (619) $ — $ — $ (619) Total Financial Liabilities $ (619) $ — $ — $ (619) The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2020: ($ in thousands) For the year ended December 31, 2020 Equity Securities Available-for-Sale Interest Rate Swap Beginning balance $ 1,315 $ (65) Total gains or losses (realized and unrealized): Included in earnings 187 — Included in other comprehensive income — (554) Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,502 $ (619) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of December 31, 2020: $ 187 $ — For the year ended December 31, 2020, there were no assets or liabilities measured at fair values on a nonrecurring basis. The Company is exposed to certain risks in the normal course of its business operations. The primary risk that is managed through the use of derivatives is interest rate risk on floating rate borrowings. This risk is managed through the use of interest rate swap agreements which are designated as cash flow hedges. For cash flow hedges, the effective portion of the gain or loss on the interest rate swap is included as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction is recognized in earnings. The Company does not hold or issue derivatives that are not designated as hedging instruments. See Note 7 for additional information about the interest rate swap agreements. The following methods and assumptions were used to estimate fair value of each class of financial instrument for which it is practical to estimate that value: Cash and cash equivalents — the carrying amount is a reasonable estimate of fair value. Fixed maturities held-to-maturity — the carrying amount is amortized cost; the fair values of the Company’s public fixed maturity securities that are classified as held-to-maturity are generally based on prices obtained from independent pricing services. Mortgage loans — the carrying amount is a reasonable estimate of fair value due to the restrictive nature and limited marketability of the mortgage notes. Policy loans — the carrying amount is a reasonable estimate of fair value. Company owned life insurance — the carrying amount is a reasonable estimate of fair value. Other invested assets — the carrying amount is a reasonable estimate of fair value. Other policyholder funds — the carrying amount is a reasonable estimate of fair value. Debt — the carrying amount is a reasonable estimate of fair value. The carrying amount and estimated fair value of the Company’s financial instruments as of September 30, 2021 and December 31, 2020 are as follows: ($ in thousands) September 30, 2021 December 31, 2020 Assets and related instruments Carrying Estimated Carrying Estimated Held-to-maturity securities $ 632 $ 682 $ 873 $ 946 Mortgage loans 143 143 145 145 Policy loans 1,782 1,782 1,846 1,846 Company owned life insurance 5,024 5,024 4,998 4,998 Other invested assets 1,740 1,740 2,033 2,033 Liabilities and related instruments Other policyholder funds 1,365 1,365 1,342 1,342 Short-term notes payable and current portion of long-term debt 500 500 500 500 Long-term debt 13,186 13,186 13,177 13,177

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Major categories of property and equipment are summarized as follows: ($ in thousands) September 30, 2021 December 31, 2020 Building and improvements $ 3,504 $ 3,491 Electronic data processing equipment 1,502 1,498 Furniture and fixtures 478 483 5,484 5,472 Less accumulated depreciation 3,968 3,900 Property and equipment, net $ 1,516 $ 1,572 Depreciation expense for the nine months ended September 30, 2021 was $71,000 ($109,000 for the year ended December 31, 2020).

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recognizes tax-related interest and penalties as a component of tax expense. The Company files income tax returns in the U.S. federal jurisdiction and various states. The Company is not subject to examinations by authorities related to its U.S. federal or state income tax filings for years prior to 2015. Tax returns have been filed through the year 2019. Net deferred tax liabilities are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of the enacted tax laws. Management believes that, based on its historical pattern of taxable income, the Company will produce sufficient income in the future to realize its deferred tax assets. The Company recognized net deferred tax asset positions of $1,250,000 at September 30, 2021 and $706,000 at December 31, 2020. The tax effect of significant differences representing deferred tax assets and liabilities are as follows: ($ in thousands) As of September 30, As of December 31, General expenses $ 1,553 $ 1,448 Unearned premiums 1,531 1,313 Claims liabilities 706 698 NOL carryforward 632 632 Impairment on real estate owned 147 147 Unrealized loss on interest rate swaps — 130 Deferred tax assets 4,569 4,368 Unrealized gains on trading securities (3) (3) Depreciation (90) (95) Deferred policy acquisition costs (1,600) (1,555) Pre-1984 policyholder surplus account (281) (331) Unrealized gains on securities available-for-sale (699) (1,083) Unrealized gains on equity securities (646) (595) Deferred tax liabilities (3,319) (3,662) Net deferred tax asset $ 1,250 $ 706 The appropriate income tax effects of changes in temporary differences are as follows: ($ in thousands) Nine months ended 2021 2020 Deferred policy acquisition costs $ 45 $ 9 Other-than-temporary impairments — 10 Trading securities — (1) Unearned premiums (218) (135) General expenses (105) (51) Depreciation (5) (2) Claims liabilities (8) (17) Impact of repeal of special provision on pre-1984 policyholder surplus (50) (50) NOL carryforward — (131) Unrealized gains (losses) on equity securities 51 (57) Deferred income tax benefit $ (290) $ (425) Total income tax expense (benefit) varies from amounts computed by applying current federal income tax rates to income or loss before income taxes. The reasons for these differences and the approximate tax effects are as follows: Nine months ended 2021 2020 Federal income tax rate applied to pre-tax income (loss) 21.0 % 21.0 % Dividends received deduction and tax-exempt interest 0.5 % 0.1 % Company owned life insurance 0.4 % 0.4 % Other, net (0.2) % (0.1) % Effective federal income tax rate 21.7 % 21.4 %

NOTES PAYABLE AND LONG-TERM DEB

NOTES PAYABLE AND LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
NOTES PAYABLE AND LONG-TERM DEBT	NOTES PAYABLE AND LONG-TERM DEBT Short-term debt and current portion of long-term debt consisted of the following as of September 30, 2021 and December 31, 2020: ($ in thousands) September 30, December 31, 2021 2020 Current portion of installment note payable due in November with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor. Unsecured. $ 500 $ 500 $ 500 $ 500 Long-term debt consisted of the following as of September 30, 2021 and December 31, 2020: ($ in thousands) September 30, December 31, 2021 2020 Promissory note with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor; maturity November 2023. Annual installment payments beginning November 2020. Unsecured. $ 1,000 $ 1,000 Subordinated debentures issued on December 15, 2005 with floating rate interest equal to 3-Month LIBOR plus 375 basis points; net of $134,000 in debt issuance cost ($140,000 in 2020); maturity December 15, 2035. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 9,145 9,139 Subordinated debentures issued on June 21, 2007 with floating rate interest equal to 3-Month LIBOR plus 340 basis points; net of $52,000 in debt issuance cost ($55,000 in 2020); maturity June 15, 2037. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 3,041 3,038 $ 13,186 $ 13,177 On February 26, 2020, the Company entered into a forward swap effective March 16, 2020, with a notional amount of $3,000,000 and designated the swap as a hedge against changes in cash flows attributable to changes in the benchmark interest rate (LIBOR) associated with the subordinated debentures issued June 21, 2007. Quarterly, commencing June 15, 2020, under the terms of the forward swap, the Company pays interest at a fixed rate of 4.93% until March 15, 2030. On February 26, 2020, the Company entered into a forward swap with a notional amount of $9,000,000 effective March 16, 2020, which hedges against changes in cash flows following the termination of the fixed rate period. Quarterly, commencing June 15, 2020 under the terms of the forward swap, the Company pays interest at a fixed rate of 5.28% until March 15, 2030. These swaps were terminated on March 22, 2021. At December 31, 2020, the swaps had fair values of $155,000 (liability) and $464,000 (liability), respectively,

POLICY AND CLAIM RESERVES

POLICY AND CLAIM RESERVES	9 Months Ended
	Sep. 30, 2021
Insurance [Abstract]
POLICY AND CLAIM RESERVES	POLICY AND CLAIM RESERVES The Company regularly updates its reserve estimates as new information becomes available and events occur that may impact the resolution of unsettled claims. Reserve estimation can be an inherently uncertain process and reserve estimates can be revised up or down depending on changes in circumstances. Changes in prior years' reserve estimates are reflected in the results of operations in the year such changes are determined. The following table is a reconciliation of beginning and ending property and casualty reserve balances for claims and claim adjustment expense: ($ in thousands) Nine months ended 2021 2020 Summary of claims and claim adjustment expense reserves Balance, beginning of year $ 10,177 $ 7,199 Less reinsurance recoverable on unpaid losses 3,321 249 Net balances at beginning of year 6,856 6,950 Net losses: Provision for claims and claim adjustment expenses for claims arising in current year 30,393 38,477 Estimated claims and claim adjustment expenses for claims arising in prior years (1,292) (1,214) Total increases 29,101 37,263 Claims and claim adjustment expense payments for claims arising in: Current year 25,586 31,637 Prior years 3,768 4,531 Total payments 29,354 36,168 Net balance at end of period 6,603 8,045 Plus reinsurance recoverable on unpaid losses 12,378 2,778 Claims and claim adjustment expense reserves at end of period $ 18,981 $ 10,823 Claims and claim adjustment expense reserves before reinsurance recoverable at September 30, 2021 were up significantly compared to beginning of year due to claims arising from Hurricane Ida in the third quarter of 2021. The estimate for claims arising in prior years was reduced $1,292,000 in 2021 (reduced $1,214,000 in 2020) due to favorable loss development during the year on claims arising in prior years. Accident and Health Claim Reserves

REINSURANCE

REINSURANCE	9 Months Ended
	Sep. 30, 2021
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company's insurance operations utilize reinsurance in the risk management process in order to limit losses, minimize exposure to large risks, provide additional capacity for future growth and effect business-sharing arrangements. Life reinsurance is placed through yearly renewable term coverage. Property and casualty reinsurance is placed on an excess of loss basis to cover losses from catastrophe events. Reinsurance contracts do not relieve the insurance subsidiaries of the obligation indemnify policyholders with respect to the underlying insurance contracts. Failure of re-insurers to honor their obligations could result in credit related losses to the insurance subsidiaries. The insurance subsidiaries evaluate the financial conditions of their reinsurance companies and monitor concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the companies to minimize their exposure to significant losses from reinsurance insolvencies. In the normal course of business, NSFC seeks to reduce the loss that may arise from catastrophes or other individually significant large loss events that cause unfavorable underwriting results or have adverse impacts on regulatory capital levels by re-insuring certain levels of risk in various areas of exposure with reinsurance companies. NSFC maintains a catastrophe reinsurance agreement to cover losses from catastrophic events, primarily hurricanes and tropical storms. Under the catastrophe reinsurance program, the Company retains the first $4,000,000 in losses from the first catastrophe event and $2,000,000 from a second catastrophe event. Catastrophe reinsurance coverage is maintained in three layers as follows: Layer Reinsurers' Limits of Liability First Layer 100% of $13,500,000 in excess of $4,000,000 retention Second Layer 100% of $25,000,000 in excess of $17,500,000 Third Layer 100% of $30,000,000 in excess of $42,500,000 Catastrophe Aggregate 100% of $2,000,000 in excess of $2,000,000 after $2,000,000 aggregate deductible Each reinsurance layer covers events occurring from January 1 through December 31 of the contract year. All significant reinsurance companies under the program carry A.M. Best ratings of A- (Excellent) or higher, or equivalent ratings. The Company's catastrophe reinsurance contract allows for one reinstatement. The Company maintains reinstatement premium protection (RPP) to cover reinstatement premiums incurred. The RPP further reduces risk from a major catastrophe and serves to protect the Company's capital position by reducing the modeled 100 year event net cost. Amounts recoverable from re-insurers are estimated in a manner consistent with the claim liability associated with the underlying insurance policies. Amounts paid for prospective reinsurance contracts are reported as prepaid reinsurance premiums and amortized over the remaining contract period. In the normal course of business, NSIC seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding reinsurance to reinsurance companies under excess coverage contracts. NSIC retains a maximum of $50,000 of coverage per individual life. Cost is amortized over the reinsurance contract period. At September 30, 2021, the largest reinsurance recoverable of a single reinsurer was $92,000 ($1,263,000 at December 31, 2020). Amounts reported as ceded incurred losses were related to development of losses from prior year catastrophes.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Company and its subsidiaries have an established retirement savings plan (401K Plan). All full-time employees are eligible to participate, and all employer contributions are fully vested for employees who have completed 1,000 hours of service in the year of contribution. Company matching contributions for the nine months ended September 30, 2021 amounted to $137,000 ($140,000 in 2020). The Company contributes dollar-for-dollar matching contributions up to 5% of compensation subject to government limits. The Company established a non-qualified deferred compensation plan under which Company directors are allowed to defer all or a portion of directors' fees into various investment options. A supplemental executive retirement plan (SERP) covers named executive officers, with the Company contributing 15% of executive compensation to the plan. Contributions to the plan are fully vested upon the earlier of death, disability, change in control, or ten years of participation in the plan. Costs for amounts related to the non-qualified deferred compensation plans for the nine months ended September 30, 2021 and 2020 amounted to an approximate increase of $230,000 and an increase of $124,000 in employee benefit related expenses, respectively.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY During the nine months ended September 30, 2021 and year ended December 31, 2020, changes in shareholders' equity consisted of net loss of $961,000 and a net loss of $8,619,000, respectively; dividends paid of $456,000 in 2021 and $607,000 in 2020; an other comprehensive loss of $957,000 in 2021 and other comprehensive income of $1,142,000 in 2020; common stock issued of $26,000 in 2021 and $25,000 in 2020; and the purchase of treasury shares of $36,000 in 2020. Other comprehensive income consisted of changes in accumulated unrealized gains/losses on securities available-for-sale and changes in accumulated unrealized losses on interest rate swaps. Preferred Stock Preferred Stock may be issued in one or more series as shall from time to time be determined and authorized by the Board of Directors. The directors may make specific provisions regarding (a) the voting rights, if any (b) whether such dividends are to be cumulative or noncumulative (c) the redemption provisions, if any (d) participating rights, if any (e) any sinking fund or other retirement provisions (f) dividend rates (g) the number of shares of such series and (h) liquidation preference. There is currently no Preferred Stock issued or outstanding. Common Stock The holders of the Class A Common Stock will have one-twentieth of one vote per share, and the holders of the common stock will have one vote per share. There is currently no Class A Common Stock issued or outstanding. In the event of any liquidation, dissolution or distribution of the assets of the Company remaining after the payments to the holders of the Preferred Stock of the full preferential amounts to which they may be entitled as provided in the resolution or resolutions creating any series thereof, the remaining assets of the Company shall be divided and distributed among the holders of both classes of common stock, except as may otherwise be provided in any such resolution or resolutions. The table below provides information regarding the Company's preferred and common stock as of September 30, 2021 and December 31, 2020: September 30, 2021 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,535,577 2,945 2,532,632 December 31, 2020 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,533,315 2,945 2,530,370 On May 21, 2021, 2,262 shares of common stock were issued to directors as compensation under the 2019 Equity Incentive Plan previously approved by shareholders. Treasury Stock Treasury stock may be purchased pursuant to the share repurchase plan authorized by the Board of Directors in May 2020. Effective June 1, 2020, the Board authorized the repurchase of up to $500,000 of the Company's outstanding common stock. The plan expired May 31, 2021. During the nine months ended September 30, 2021, the Company repurchased no shares of common stock. During the year ended December 31, 2020, the Company purchased 2,509 shares of common stock which were placed in treasury stock.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income ("AOCI") includes certain items that are reported directly within a separate component of shareholders' equity. The following table presents changes in AOCI balances: ($ in thousands) Nine months ended 2021 2020 Unrealized Gains (Losses) on Cash Flow Hedges Balance at beginning of period $ (489) $ (51) Other comprehensive income (loss) for period: Other comprehensive gain (loss) before reclassifications 489 (580) Net current period other comprehensive income (loss) 489 (580) Balance at end of period $ — $ (631) Unrealized Gains (Losses) on Available-for-Sale Securities Balance at beginning of period $ 4,074 $ 2,494 Other comprehensive income (loss) for period: Other comprehensive income (loss) before reclassifications (1,362) 2,072 Amounts reclassified from accumulated other comprehensive loss (84) (1,063) Net current period other comprehensive income (loss) (1,446) 1,009 Balance at end of period $ 2,628 $ 3,503 Total Accumulated Other Comprehensive Income at end of period $ 2,628 $ 2,872 The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2021: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains on $ 106 Net investment gains 106 Total before tax (22) Tax expense $ 84 Net of Tax The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2020: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains on $ 1,345 Net investment gains 1,345 Total before tax (282) Tax expense $ 1,063 Net of Tax

SEGMENTS

SEGMENTS	9 Months Ended
	Sep. 30, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
SEGMENTS	SEGMENTS The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. Management organizes the business utilizing a niche strategy focusing on lower valued dwellings and older homes that can be difficult to insure in the standard insurance market. Our chief decision makers (Chief Executive Officer, Chief Financial Officer and subsidiary President) review results and operating plans making decisions on resource allocations on a company-wide basis. The Company’s products are primarily produced through independent agents within the states in which we operate. The Company’s life and accident and health operations comprise the second business segment. The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance. Total assets by industry segment at September 30, 2021 and December 31, 2020 are summarized below: ($ in thousands) Assets by industry segment Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations September 30, 2021 $ 163,259 $ 98,115 $ 59,512 $ 5,632 December 31, 2020 $ 150,540 $ 85,375 $ 59,394 $ 5,771 Net income (loss) by business segment for the three and nine months ended September 30, 2021 and 2020 is summarized below: ($ in thousands) Three months ended September 30, 2021 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUES Net premiums earned $ 14,238 $ 1,443 $ — $ — $ 15,681 Net investment income 392 590 5 (135) 852 Investment gains (losses) (55) 67 (1) — 11 Other income 126 221 293 (513) 127 14,701 2,321 297 (648) 16,671 BENEFITS AND EXPENSES Policyholder benefits paid 10,437 1,450 — (114) 11,773 Amortization of deferred policy acquisition costs 687 168 — — 855 Commissions 1,992 74 — — 2,066 General and administrative expenses 1,917 499 101 (534) 1,983 Taxes, licenses and fees 601 31 — — 632 Interest expense — 30 141 — 171 15,634 2,252 242 (648) 17,480 Income (Loss) Before Income Taxes (933) 69 55 — (809) INCOME TAX EXPENSE (BENEFIT) (189) 270 (246) — (165) Net Income (Loss) $ (744) $ (201) $ 301 $ — $ (644) ($ in thousands) Three months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUES Net premiums earned $ 13,786 $ 1,503 $ — $ — $ 15,289 Net investment income 389 614 16 (135) 884 Investment gains 678 747 5 — 1,430 Other income 162 334 274 (608) 162 15,015 3,198 295 (743) 17,765 BENEFITS AND EXPENSES Policyholder benefits paid 11,851 1,646 — (194) 13,303 Amortization of deferred policy acquisition costs 681 155 — — 836 Commissions 1,431 62 — — 1,493 General and administrative expenses 2,027 554 280 (549) 2,312 Taxes, licenses and fees 564 40 — — 604 Interest expense — 10 190 — 200 16,554 2,467 470 (743) 18,748 Income (Loss) Before Income Taxes (1,539) 731 (175) — (983) INCOME TAX EXPENSE (BENEFIT) (347) 179 (37) — (205) Net Income (Loss) $ (1,192) $ 552 $ (138) $ — $ (778) ($ in thousands) Nine months ended September 30, 2021 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUES Net premiums earned $ 41,229 $ 4,328 $ — $ — $ 45,557 Net investment income 1,115 1,787 26 (405) 2,523 Investment gains (losses) 183 576 (7) — 752 Other income 393 640 844 (1,483) 394 42,920 7,331 863 (1,888) 49,226 BENEFITS AND EXPENSES Policyholder benefits paid 29,101 4,013 — (329) 32,785 Amortization of deferred policy acquisition costs 2,061 595 — — 2,656 Commissions 5,670 231 — — 5,901 General and administrative expenses 6,205 1,406 801 (1,559) 6,853 Taxes, licenses and fees 1,639 157 — — 1,796 Interest expense — 50 412 — 462 44,676 6,452 1,213 (1,888) 50,453 Income (Loss) Before Income Taxes (1,756) 879 (350) — (1,227) INCOME TAX EXPENSE (BENEFIT) (372) 182 (76) — (266) Net Income (Loss) $ (1,384) $ 697 $ (274) $ — $ (961) ($ in thousands) Nine months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Total REVENUES Net premiums earned $ 40,996 $ 4,420 $ — $ — $ 45,416 Net investment income 1,169 2,003 42 (405) 2,809 Investment gains (losses) 693 296 (1) — 988 Other income 449 921 796 (1,716) 450 43,307 7,640 837 (2,121) 49,663 BENEFITS AND EXPENSES Policyholder benefits paid 37,264 3,908 — (550) 40,622 Amortization of deferred policy acquisition costs 2,043 706 — — 2,749 Commissions 5,411 204 — — 5,615 General and administrative expenses 5,913 1,396 461 (1,571) 6,199 Taxes, licenses and fees 1,740 179 — — 1,919 Interest expense — 29 631 — 660 52,371 6,422 1,092 (2,121) 57,764 Income (Loss) Before Income Taxes (9,064) 1,218 (255) — (8,101) INCOME TAX EXPENSE (BENEFIT) (1,937) 254 (54) — (1,737) Net Income (Loss) $ (7,127) $ 964 $ (201) $ — $ (6,364) The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2021 and 2020, respectively: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Life, accident and health operations premiums written: Traditional life insurance $ 989 $ 1,003 $ 3,020 $ 3,086 Accident and health insurance 538 538 1,324 1,330 Gross life, accident and health 1,527 1,541 4,344 4,416 Reinsurance premium ceded (16) (14) (75) (71) Net life, accident and health premiums written $ 1,511 $ 1,527 $ 4,269 $ 4,345 Property and Casualty operations premiums written: Dwelling fire & extended coverage $ 11,721 $ 10,316 $ 36,344 $ 31,710 Homeowners (Including mobile homeowners) 4,774 5,205 15,484 15,933 Other liability 482 556 1,560 1,747 Gross property and casualty 16,977 16,077 53,388 49,390 Reinsurance premium ceded (2,539) (1,999) (7,466) (5,547) Net property and casualty written $ 14,438 $ 14,078 $ 45,922 $ 43,843 Consolidated gross premiums written $ 18,504 $ 17,618 $ 57,732 $ 53,806 Reinsurance premium ceded (2,555) (2,013) (7,541) (5,618) Consolidated net premiums written $ 15,949 $ 15,605 $ 50,191 $ 48,188 The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2021 and 2020, respectively: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Life, accident and health operations premiums earned: Traditional life insurance $ 920 $ 978 $ 3,081 $ 3,165 Accident and health insurance 539 539 1,322 1,326 Gross life, accident and health 1,459 1,517 4,403 4,491 Reinsurance premium ceded (16) (14) (75) (71) Net life, accident and health premiums earned $ 1,443 $ 1,503 $ 4,328 $ 4,420 Property and Casualty operations premiums earned: Dwelling fire & extended coverage $ 11,203 $ 10,103 $ 32,072 $ 29,591 Homeowners (Including mobile homeowners) 5,055 5,120 15,034 15,281 Other liability 519 562 1,589 1,671 Gross property and casualty 16,777 15,785 48,695 46,543 Reinsurance premium ceded (2,539) (1,999) (7,466) (5,547) Net property and casualty earned $ 14,238 $ 13,786 $ 41,229 $ 40,996 Consolidated gross premiums earned $ 18,236 $ 17,302 $ 53,098 $ 51,034 Reinsurance premium ceded (2,555) (2,013) (7,541) (5,618) Consolidated net premiums earned $ 15,681 $ 15,289 $ 45,557 $ 45,416

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In the ordinary course of business, the Company and its subsidiaries are routinely a defendant in or party to pending or threatened legal actions and proceedings related to the conduct of their insurance operations. These suits can involve alleged breaches of contracts, torts, including bad faith and fraud claims based on alleged wrongful or fraudulent acts of the Company's subsidiaries, and other miscellaneous causes of action. It is inherently difficult to predict the outcome of such matters, particularly when the claimant seeks very large or indeterminate damages or when the matters present novel legal theories or involve multiple parties. An accrued liability is established when loss contingencies are both probable and estimable. However, there is potential loss exposure in excess of any accrued amounts. The Company monitors pending matters for further development that could affect the amount of the accrued liability. The Company's property & casualty subsidiaries had one longstanding action remaining in Texas filed in the aftermath of Hurricane Ike which was favorably resolved in the second quarter of 2020 with no material impact on these consolidated financial statements.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Cash paid for interest during the nine months ended September 30, 2021 was $451,000 ($593,000 in 2020). Cash paid for income taxes during the nine months ended September 30, 2021 was $350,000. Cash paid for income taxes during the nine months ended September 30, 2020 was $230,000.During the nine months ended September 30, 2021, non-cash changes in equity included $2,000 in common stock issued to Directors in lieu of cash compensation along with a corresponding $24,000 increase in additional paid-in capital. During the nine months ended September 30, 2020, non-cash changes in equity included $1,000 in common stock issued to Directors in lieu of cash compensation along with a corresponding $24,000 increase in additional paid-in capital.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Management has evaluated subsequent events and their potential effects on these condensed consolidated financial statements through the filing date of this Form 10-Q.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Principles of Consolidation	The accompanying condensed consolidated financial statements include the accounts of The National Security Group, Inc. (the Company) and its wholly-owned subsidiaries:  National Security Insurance Company (NSIC), National Security Fire and Casualty Company (NSFC) and NATSCO, Inc. (NATSCO).  NSFC includes a wholly-owned subsidiary, Omega One Insurance Company (Omega).  The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP).  In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the condensed consolidated financial statements have been included. All significant intercompany transactions and accounts have been eliminated in the condensed consolidated financial statements.
Basis of Presentation	The financial information presented herein should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which includes information and disclosures not presented herein.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Among the more significant estimates included in these condensed consolidated financial statements are reserves for future life insurance policy benefits, liabilities for losses and loss adjustment expenses, reinsurance recoverable associated with loss and loss adjustment expense liabilities, deferred policy acquisition costs, deferred income tax assets and liabilities, assessments of other-than-temporary impairments on investments and accruals for contingencies.  Actual results could differ from the estimates used in preparing these condensed consolidated financial statements.
Earnings Per Share	Earnings per share of common stock is based on the weighted average number of shares outstanding during each year. The adjusted weighted average shares outstanding were 2,531,472 at September 30, 2021 and 2,530,736 at September 30, 2020. The Company did not have any dilutive securities as of September 30, 2021 and 2020.
Concentration of Credit Risk	The Company maintains cash balances which are generally held in non-interest bearing demand deposit accounts subject to FDIC insured limits of $250,000 per entity. At September 30, 2021, the net amount exceeding FDIC insured limits was $10,042,000 at three financial institutions. The Company has not experienced any losses in such accounts. Management of the Company reviews financial information of financial institutions on a quarterly basis and believes the Company is not exposed to any significant credit risk on cash and cash equivalents. Policy receivables are reported at unpaid balances. Policy receivables are generally offset by associated unearned premium liabilities and are not subject to significant credit risk. Receivables from agents, less provision for credit losses, are composed of balances due from independent agents. At September 30, 2021, the single largest balance due from one agent totaled $45,000. Reinsurance contracts do not relieve the Company of its obligations to policyholders. A failure of a reinsurer to meet its obligation could result in losses to the insurance subsidiaries. Allowances for losses on reinsurance recoverables are established if amounts are believed to be uncollectible. At September 30, 2021 and December 31, 2020, no amounts were deemed uncollectible. The Company, at least annually, evaluates the financial condition of all reinsurers and evaluates any potential concentrations of credit risk. At September 30, 2021, management does not believe the Company is exposed to any significant credit risk related to its reinsurance program.
Accounting Changes Not Yet Adopted and Recently Adopted Accounting Standards	Accounting Changes Not Yet Adopted Reference Rate Reform In March 2020, the Financial Accounting Standards Board (FASB) issued guidance that provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The Company has exposure to LIBOR based financial instruments through its subordinated debentures. The contracts with respect to these borrowings contain alternative reference rates that would automatically take effect upon the phasing out of LIBOR and would not materially change the liability exposure. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Company is evaluating the optional expedients and exceptions in the guidance but does not expect the adoption of this guidance to have a material impact on its financial position or results of operations. Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. The guidance improves timeliness of recognizing changes in the liability for future policy benefits and modifies the rate used to discount future cash flows. The guidance will simplify and improve accounting for certain market-based options or guarantees associated with deposit type contracts and simplify the amortization of deferred policy acquisition costs. The guidance also introduces certain financial statement presentation requirements, as well as significant additional quantitative and qualitative disclosures. The guidance is effective for fiscal years beginning after December 15, 2024 and interim periods within those fiscal years beginning after December 15, 2025. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. Due to the nature and extent of the changes required to the Company’s life insurance operations, the adoption of this standard is expected to have a material impact on the consolidated financial statements. Financial Instruments - Credit Losses In June 2016, the FASB issued guidance that replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB released additional guidance in November 2018 that provides scope clarification. This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those years. The Company does not expect the adoption to have a material impact on its financial position or results of operations. Recently Adopted Accounting Standards Simplifying the Accounting for Income Taxes In December 2019, the FASB issued guidance to simplify the accounting for income taxes. The guidance removes certain exceptions to general principles in the income tax guidance and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020. The Company adopted this guidance on January 1, 2021. The adoption of this guidance did not have a material impact on its financial position or results of operations.
Variable Interest Entities	The Company holds passive interests in limited partnerships that are considered to be Variable Interest Entities (VIE) under the provisions of ASC 810 Consolidation . The Company is not the primary beneficiary of the entities and is not required to consolidate under ASC 810. The entities are private placement investment funds formed for the purpose of investing in private equity investments. The Company owns less than 1% of the limited partnerships. The carrying value of the investments totals $556,000 at September 30, 2021 ($460,000 at December 31, 2020) and is included as a component of Other Invested Assets in the accompanying condensed consolidated balance sheets.
Marketable Securities	For securities in an unrealized loss position, the Company assesses whether the Company has the intent to sell the security or more-likely-than-not will be required to sell the security before the anticipated recovery.  If either of these conditions is met, the Company is required to recognize an other-than-temporary impairment with the entire unrealized loss reported in earnings.  For securities in an unrealized loss position that do not meet these conditions, the Company assesses whether the impairment of a security is other-than-temporary.  If the impairment is determined to be other-than-temporary, the Company is required to separate the other-than-temporary impairments into two components:  the amount representing the credit loss and the amount related to all other factors.  The credit loss is the portion of the amortized book value in excess of the net present value of the projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment.  The credit loss component of other-than-temporary impairments is reported in earnings, whereas the amount relating to factors other than credit losses are recorded in other comprehensive income, net of taxes.
Derivatives	The Company is exposed to certain risks in the normal course of its business operations.  The primary risk that is managed through the use of derivatives is interest rate risk on floating rate borrowings.  This risk is managed through the use of interest rate swap agreements which are designated as cash flow hedges.  For cash flow hedges, the effective portion of the gain or loss on the interest rate swap is included as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction is recognized in earnings.  The Company does not hold or issue derivatives that are not designated as hedging instruments.  The December 31, 2020 swap liability is reported as a component of other liabilities on the condensed consolidated balance sheets.
Fair Values of Financial Instruments	Our available-for-sale securities consists of fixed maturity and equity securities which are recorded at fair value in the accompanying condensed consolidated balance sheets. We are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Accounting standards define fair value as the price that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework to make the measurement of fair value more consistent and comparable. In determining fair value, we primarily use prices and other relevant information generated by market transactions involving identical or comparable assets. The Company categorizes assets and liabilities carried at their fair value based upon a fair value hierarchy: Level 1 - Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 1 assets and liabilities consist of money market fund deposits and certain of our marketable debt and equity instruments, including equity instruments offsetting deferred compensation, that are traded in an active market with sufficient volume and frequency of transactions. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets include certain of our marketable debt and equity instruments with quoted market prices that are traded in less active markets or priced using a quoted market price for similar instruments. Level 2 assets also include marketable equity instruments with security-specific restrictions that would transfer to the buyer, marketable debt instruments priced using indicator prices which represent non-binding market consensus prices that can be corroborated by observable market quotes, as well as derivative contracts and debt instruments priced using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. Marketable debt instruments in this category generally include commercial paper, bank time deposits, repurchase agreements for fixed-income instruments, and a majority of floating-rate notes, corporate bonds, and municipal bonds. Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Level 3 assets and liabilities include marketable debt instruments, non-marketable equity investments, derivative contracts, and company issued debt with values determined using inputs that are both unobservable and significant to the values of the instruments being measured. Level 3 assets also include marketable debt instruments that are priced using indicator prices that we were unable to corroborate with observable market quotes. Marketable debt instruments in this category generally include asset-backed securities and certain floating-rate notes, corporate bonds, and municipal bonds. Fixed maturities available-for-sale — The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Consistent with the fair value hierarchy described above, securities with quoted market prices in active markets for identical assets are reflected within Level 1 while securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Trading securities — Trading securities consist primarily of mutual funds whose fair values are determined consistent with similar instruments described above under “Fixed Maturities” and below under “Equity Securities.” Equity securities — Equity securities consist principally of investments in common and preferred stock of publicly traded companies and privately traded securities. The fair values of our publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for our privately traded equity securities require a substantial level of judgment. Privately traded equity securities are classified within Level 3. Interest rate swaps — Interest rate swaps are recorded at fair value either as assets, within other assets or as liabilities, within other liabilities. The fair values of our interest rate swaps are provided by a third-party broker and are classified within Level 3. The following methods and assumptions were used to estimate fair value of each class of financial instrument for which it is practical to estimate that value: Cash and cash equivalents — the carrying amount is a reasonable estimate of fair value. Fixed maturities held-to-maturity — the carrying amount is amortized cost; the fair values of the Company’s public fixed maturity securities that are classified as held-to-maturity are generally based on prices obtained from independent pricing services. Mortgage loans — the carrying amount is a reasonable estimate of fair value due to the restrictive nature and limited marketability of the mortgage notes. Policy loans — the carrying amount is a reasonable estimate of fair value. Company owned life insurance — the carrying amount is a reasonable estimate of fair value. Other invested assets — the carrying amount is a reasonable estimate of fair value. Other policyholder funds — the carrying amount is a reasonable estimate of fair value. Debt — the carrying amount is a reasonable estimate of fair value.
Reinsurance	The Company's insurance operations utilize reinsurance in the risk management process in order to limit losses, minimize exposure to large risks, provide additional capacity for future growth and effect business-sharing arrangements. Life reinsurance is placed through yearly renewable term coverage. Property and casualty reinsurance is placed on an excess of loss basis to cover losses from catastrophe events. Reinsurance contracts do not relieve the insurance subsidiaries of the obligation indemnify policyholders with respect to the underlying insurance contracts. Failure of re-insurers to honor their obligations could result in credit related losses to the insurance subsidiaries. The insurance subsidiaries evaluate the financial conditions of their reinsurance companies and monitor concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the companies to minimize their exposure to significant losses from reinsurance insolvencies. In the normal course of business, NSFC seeks to reduce the loss that may arise from catastrophes or other individually significant large loss events that cause unfavorable underwriting results or have adverse impacts on regulatory capital levels by re-insuring certain levels of risk in various areas of exposure with reinsurance companies.  NSFC maintains a catastrophe reinsurance agreement to cover losses from catastrophic events, primarily hurricanes and tropical stormsAmounts recoverable from re-insurers are estimated in a manner consistent with the claim liability associated with the underlying insurance policies.  Amounts paid for prospective reinsurance contracts are reported as prepaid reinsurance premiums and amortized over the remaining contract period.In the normal course of business, NSIC seeks to limit its exposure to loss on any single insured and to recover a portion of benefits paid by ceding reinsurance to reinsurance companies under excess coverage contracts.  NSIC retains a maximum of $50,000 of coverage per individual life.  Cost is amortized over the reinsurance contract period.
Business Segment	The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. The Company’s life and accident and health operations comprise the second business segment.  The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Investments [Abstract]
Schedule of Amortized Cost and Aggregate Fair Values of Investments in Available-for-Sale Securities	The amortized cost and aggregate fair values of investments in available-for-sale securities as of September 30, 2021 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 5,170 $ 219 $ 8 $ 5,381 Agency mortgage backed securities 19,587 432 164 19,855 Asset backed securities 5,933 99 4 6,028 Private label mortgage backed securities 2,954 19 19 2,954 Corporate bonds 50,327 3,017 369 52,975 States, municipalities and political subdivisions 8,622 154 49 8,727 Total Fixed Maturities 92,593 3,940 613 95,920 Equity securities 1,761 3,076 — 4,837 Total $ 94,354 $ 7,016 $ 613 $ 100,757 The amortized cost and aggregate fair values of investments in available-for-sale securities as of December 31, 2020 are as follows: ($ in thousands) Available-for-sale securities: Amortized Gross Gross Fair U.S. Government corporations and agencies $ 4,300 $ 323 $ 9 $ 4,614 Agency mortgage backed securities 19,773 919 63 20,629 Asset backed securities 8,233 137 27 8,343 Private label mortgage backed securities 1,418 50 55 1,413 Corporate bonds 35,930 3,771 50 39,651 States, municipalities and political subdivisions 6,587 189 27 6,749 Total Fixed Maturities 76,241 5,389 231 81,399 Equity securities 1,918 2,832 — 4,750 Total $ 78,159 $ 8,221 $ 231 $ 86,149
Schedule of Held-to-Maturity Securities	The amortized cost and aggregate fair values of investments in held-to-maturity securities as of September 30, 2021 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 632 $ 50 $ — $ 682 Total $ 632 $ 50 $ — $ 682 The amortized cost and aggregate fair values of investments in held-to-maturity securities as of December 31, 2020 are as follows: ($ in thousands) Held-to-maturity securities: Amortized Gross Gross Fair Agency mortgage backed securities $ 873 $ 73 $ — $ 946 Total $ 873 $ 73 $ — $ 946
Schedule of Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity	The amortized cost and aggregate fair value of debt securities at September 30, 2021, by contractual maturity, are presented in the following table. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ($ in thousands) Amortized Fair Available-for-sale securities: Due in one year or less $ 1,702 $ 1,725 Due after one year through five years 22,218 23,293 Due after five years through ten years 22,800 23,741 Due after ten years 45,873 47,161 Total $ 92,593 $ 95,920 Held-to-maturity securities: Due after one year through five years $ 10 $ 10 Due after five years through ten years 3 3 Due after ten years 619 669 Total $ 632 $ 682
Schedule of Securities with Unrealized Losses	A summary of securities available-for-sale with unrealized losses as of September 30, 2021, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total September 30, 2021 Fair Gross Fair Gross Fair Gross Total U.S. Government corporations and agencies $ 1,821 $ 8 $ — $ — $ 1,821 $ 8 2 Agency mortgage backed securities 8,272 164 — — 8,272 164 16 Asset backed securities 2,156 4 — — 2,156 4 3 Private label mortgage backed securities 2,019 19 — — 2,019 19 2 Corporate bonds 8,690 369 — — 8,690 369 14 States, municipalities and political subdivisions 2,225 32 789 17 3,014 49 4 $ 25,183 $ 596 $ 789 $ 17 $ 25,972 $ 613 41 There were no securities held-to-maturity with unrealized losses as of September 30, 2021. A summary of securities available-for-sale with unrealized losses as of December 31, 2020, along with the related fair value, aggregated by the length of time that investments have been in a continuous unrealized loss position, is as follows: ($ in thousands) Less than 12 months 12 months or longer Total December 31, 2020 Fair Gross Fair Gross Fair Gross Total U.S. Government corporations and agencies $ 666 $ 9 $ — $ — $ 666 $ 9 1 Agency mortgage backed securities 2,264 56 2 7 2,266 63 8 Asset backed securities 1,737 27 — — 1,737 27 2 Private label mortgage backed securities 891 55 — — 891 55 1 Corporate bonds 2,467 45 495 5 2,962 50 5 States, municipalities and political subdivisions 1,713 27 — — 1,713 27 3 $ 9,738 $ 219 $ 497 $ 12 $ 10,235 $ 231 20 There were no securities held-to-maturity with unrealized losses as of December 31, 2020.
Summary of Major Categories of Investment Income	Major categories of investment income are summarized as follows: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Fixed maturities $ 824 $ 824 $ 2,414 $ 2,696 Equity securities 21 30 91 102 Mortgage loans on real estate 1 1 5 5 Investment real estate — — — 1 Policy loans 34 36 103 108 Other 8 28 23 6 888 919 2,636 2,918 Less: Investment expenses 36 35 113 109 Net investment income $ 852 $ 884 $ 2,523 $ 2,809
Schedule of Realized Investments Gains (Losses)	Major categories of investment gains (losses) are summarized as follows: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Realized gains on fixed maturities $ — $ 1,091 $ 106 $ 1,107 Realized gains on equity securities — — 357 — Gains (losses) on trading securities — 5 13 (1) Change in fair value of equity securities 46 223 244 (272) Change in surrender value of company owned life insurance (35) 125 26 165 Other gains (losses) principally real estate — (14) 6 (11) Net investment gains $ 11 $ 1,430 $ 752 $ 988
Schedule of Net Change in Unrealized Appreciation	An analysis of the net change in unrealized gains (losses) on available-for-sale securities follows for the nine month periods: ($ in thousands) September 30, September 30, Fixed maturities $ (1,830) $ 1,277 Deferred income tax 384 (268) Change in net unrealized gains (losses) on available-for-sale securities $ (1,446) $ 1,009

FAIR VALUE OF FINANCIAL ASSET_2

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Financial assets measured at fair value on a recurring basis as of September 30, 2021 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 5,381 $ 5,381 $ — $ — Agency mortgage backed securities 19,855 12,407 7,448 — Asset backed securities 6,028 2,917 3,111 — Corporate bonds 52,975 — 52,975 — Private label asset backed securities 2,954 — 2,954 — States, municipalities and political subdivisions 8,727 — 8,727 — Trading securities 183 183 — — Equity securities 4,837 3,215 — 1,622 Total Financial Assets $ 100,940 $ 24,103 $ 75,215 $ 1,622 Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 are summarized in the following table by the type of inputs applicable to the fair value measurements: ($ in thousands) Fair Value Measurements at Reporting Date Using Description Total Level 1 Level 2 Level 3 Financial Assets Fixed maturities available-for-sale U.S. Government corporations and agencies $ 4,614 $ 4,614 $ — $ — Agency mortgage backed securities 20,629 12,044 8,585 — Asset backed securities 8,343 2,343 6,000 — Corporate bonds 39,651 — 39,651 — Private label asset backed securities 1,413 891 522 — States, municipalities and political subdivisions 6,749 — 6,749 — Trading securities 169 169 — — Equity securities available-for-sale 4,750 3,248 — 1,502 Total Financial Assets $ 86,318 $ 23,309 $ 61,507 $ 1,502 Financial Liabilities Interest rate swap $ (619) $ — $ — $ (619) Total Financial Liabilities $ (619) $ — $ — $ (619)
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2021: ($ in thousands) For the nine months ended September 30, 2021 Equity Securities Interest Rate Swap Beginning balance $ 1,502 $ (619) Total gains or losses (realized and unrealized): Included in earnings 120 — Included in other comprehensive income — 619 Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,622 $ — The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of September 30, 2021: $ 120 $ — The table below presents a reconciliation for all assets and for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2020: ($ in thousands) For the year ended December 31, 2020 Equity Securities Available-for-Sale Interest Rate Swap Beginning balance $ 1,315 $ (65) Total gains or losses (realized and unrealized): Included in earnings 187 — Included in other comprehensive income — (554) Purchases: — — Sales: — — Issuances: — — Settlements: — — Transfers in/(out) of Level 3 — — Ending balance $ 1,502 $ (619) The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held as of December 31, 2020: $ 187 $ —
Schedule of Fair Value, by Balance Sheet Grouping	The carrying amount and estimated fair value of the Company’s financial instruments as of September 30, 2021 and December 31, 2020 are as follows: ($ in thousands) September 30, 2021 December 31, 2020 Assets and related instruments Carrying Estimated Carrying Estimated Held-to-maturity securities $ 632 $ 682 $ 873 $ 946 Mortgage loans 143 143 145 145 Policy loans 1,782 1,782 1,846 1,846 Company owned life insurance 5,024 5,024 4,998 4,998 Other invested assets 1,740 1,740 2,033 2,033 Liabilities and related instruments Other policyholder funds 1,365 1,365 1,342 1,342 Short-term notes payable and current portion of long-term debt 500 500 500 500 Long-term debt 13,186 13,186 13,177 13,177

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Major categories of property and equipment are summarized as follows: ($ in thousands) September 30, 2021 December 31, 2020 Building and improvements $ 3,504 $ 3,491 Electronic data processing equipment 1,502 1,498 Furniture and fixtures 478 483 5,484 5,472 Less accumulated depreciation 3,968 3,900 Property and equipment, net $ 1,516 $ 1,572

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	The tax effect of significant differences representing deferred tax assets and liabilities are as follows: ($ in thousands) As of September 30, As of December 31, General expenses $ 1,553 $ 1,448 Unearned premiums 1,531 1,313 Claims liabilities 706 698 NOL carryforward 632 632 Impairment on real estate owned 147 147 Unrealized loss on interest rate swaps — 130 Deferred tax assets 4,569 4,368 Unrealized gains on trading securities (3) (3) Depreciation (90) (95) Deferred policy acquisition costs (1,600) (1,555) Pre-1984 policyholder surplus account (281) (331) Unrealized gains on securities available-for-sale (699) (1,083) Unrealized gains on equity securities (646) (595) Deferred tax liabilities (3,319) (3,662) Net deferred tax asset $ 1,250 $ 706
Changes in Temporary Differences in Federal Income Tax	The appropriate income tax effects of changes in temporary differences are as follows: ($ in thousands) Nine months ended 2021 2020 Deferred policy acquisition costs $ 45 $ 9 Other-than-temporary impairments — 10 Trading securities — (1) Unearned premiums (218) (135) General expenses (105) (51) Depreciation (5) (2) Claims liabilities (8) (17) Impact of repeal of special provision on pre-1984 policyholder surplus (50) (50) NOL carryforward — (131) Unrealized gains (losses) on equity securities 51 (57) Deferred income tax benefit $ (290) $ (425)
Schedule of Effective Income Tax Rate Reconciliation	Total income tax expense (benefit) varies from amounts computed by applying current federal income tax rates to income or loss before income taxes. The reasons for these differences and the approximate tax effects are as follows: Nine months ended 2021 2020 Federal income tax rate applied to pre-tax income (loss) 21.0 % 21.0 % Dividends received deduction and tax-exempt interest 0.5 % 0.1 % Company owned life insurance 0.4 % 0.4 % Other, net (0.2) % (0.1) % Effective federal income tax rate 21.7 % 21.4 %

NOTES PAYABLE AND LONG-TERM D_2

NOTES PAYABLE AND LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Short-term debt and current portion of long-term debt consisted of the following as of September 30, 2021 and December 31, 2020: ($ in thousands) September 30, December 31, 2021 2020 Current portion of installment note payable due in November with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor. Unsecured. $ 500 $ 500 $ 500 $ 500
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following as of September 30, 2021 and December 31, 2020: ($ in thousands) September 30, December 31, 2021 2020 Promissory note with variable interest rate equal to the WSJ prime rate plus 0.5%, with a 4.75% floor; maturity November 2023. Annual installment payments beginning November 2020. Unsecured. $ 1,000 $ 1,000 Subordinated debentures issued on December 15, 2005 with floating rate interest equal to 3-Month LIBOR plus 375 basis points; net of $134,000 in debt issuance cost ($140,000 in 2020); maturity December 15, 2035. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 9,145 9,139 Subordinated debentures issued on June 21, 2007 with floating rate interest equal to 3-Month LIBOR plus 340 basis points; net of $52,000 in debt issuance cost ($55,000 in 2020); maturity June 15, 2037. Interest payable quarterly. Redeemable prior to maturity. Unsecured. 3,041 3,038 $ 13,186 $ 13,177

POLICY AND CLAIM RESERVES (Tabl

POLICY AND CLAIM RESERVES (Tables)	9 Months Ended
	Sep. 30, 2021
Insurance [Abstract]
Reconciliation of Policy and Claim Reserves	The following table is a reconciliation of beginning and ending property and casualty reserve balances for claims and claim adjustment expense: ($ in thousands) Nine months ended 2021 2020 Summary of claims and claim adjustment expense reserves Balance, beginning of year $ 10,177 $ 7,199 Less reinsurance recoverable on unpaid losses 3,321 249 Net balances at beginning of year 6,856 6,950 Net losses: Provision for claims and claim adjustment expenses for claims arising in current year 30,393 38,477 Estimated claims and claim adjustment expenses for claims arising in prior years (1,292) (1,214) Total increases 29,101 37,263 Claims and claim adjustment expense payments for claims arising in: Current year 25,586 31,637 Prior years 3,768 4,531 Total payments 29,354 36,168 Net balance at end of period 6,603 8,045 Plus reinsurance recoverable on unpaid losses 12,378 2,778 Claims and claim adjustment expense reserves at end of period $ 18,981 $ 10,823

REINSURANCE (Tables)

REINSURANCE (Tables)	9 Months Ended
	Sep. 30, 2021
Reinsurance Disclosures [Abstract]
Schedule of Reinsurance	Catastrophe reinsurance coverage is maintained in three layers as follows: Layer Reinsurers' Limits of Liability First Layer 100% of $13,500,000 in excess of $4,000,000 retention Second Layer 100% of $25,000,000 in excess of $17,500,000 Third Layer 100% of $30,000,000 in excess of $42,500,000 Catastrophe Aggregate 100% of $2,000,000 in excess of $2,000,000 after $2,000,000 aggregate deductible

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of Stock by Class	The table below provides information regarding the Company's preferred and common stock as of September 30, 2021 and December 31, 2020: September 30, 2021 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,535,577 2,945 2,532,632 December 31, 2020 Authorized Issued Treasury Outstanding Preferred Stock, $1 par value 500,000 — — — Class A Common Stock, $1 par value 2,000,000 — — — Common Stock, $1 par value 3,000,000 2,533,315 2,945 2,530,370

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in AOCI balances: ($ in thousands) Nine months ended 2021 2020 Unrealized Gains (Losses) on Cash Flow Hedges Balance at beginning of period $ (489) $ (51) Other comprehensive income (loss) for period: Other comprehensive gain (loss) before reclassifications 489 (580) Net current period other comprehensive income (loss) 489 (580) Balance at end of period $ — $ (631) Unrealized Gains (Losses) on Available-for-Sale Securities Balance at beginning of period $ 4,074 $ 2,494 Other comprehensive income (loss) for period: Other comprehensive income (loss) before reclassifications (1,362) 2,072 Amounts reclassified from accumulated other comprehensive loss (84) (1,063) Net current period other comprehensive income (loss) (1,446) 1,009 Balance at end of period $ 2,628 $ 3,503 Total Accumulated Other Comprehensive Income at end of period $ 2,628 $ 2,872
Reclassification out of Accumulated Other Comprehensive Income	The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2021: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains on $ 106 Net investment gains 106 Total before tax (22) Tax expense $ 84 Net of Tax The following table presents the amounts reclassified out of AOCI for the nine months ended September 30, 2020: ($ in thousands) Details about Accumulated Other Comprehensive Income Components Amounts Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Unrealized Gains on $ 1,345 Net investment gains 1,345 Total before tax (282) Tax expense $ 1,063 Net of Tax

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Schedule of Segment Reporting Information, by Segment	Total assets by industry segment at September 30, 2021 and December 31, 2020 are summarized below: ($ in thousands) Assets by industry segment Total P&C Insurance Operations Life Insurance Operations Non-Insurance Operations September 30, 2021 $ 163,259 $ 98,115 $ 59,512 $ 5,632 December 31, 2020 $ 150,540 $ 85,375 $ 59,394 $ 5,771 Net income (loss) by business segment for the three and nine months ended September 30, 2021 and 2020 is summarized below: ($ in thousands) Three months ended September 30, 2021 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUES Net premiums earned $ 14,238 $ 1,443 $ — $ — $ 15,681 Net investment income 392 590 5 (135) 852 Investment gains (losses) (55) 67 (1) — 11 Other income 126 221 293 (513) 127 14,701 2,321 297 (648) 16,671 BENEFITS AND EXPENSES Policyholder benefits paid 10,437 1,450 — (114) 11,773 Amortization of deferred policy acquisition costs 687 168 — — 855 Commissions 1,992 74 — — 2,066 General and administrative expenses 1,917 499 101 (534) 1,983 Taxes, licenses and fees 601 31 — — 632 Interest expense — 30 141 — 171 15,634 2,252 242 (648) 17,480 Income (Loss) Before Income Taxes (933) 69 55 — (809) INCOME TAX EXPENSE (BENEFIT) (189) 270 (246) — (165) Net Income (Loss) $ (744) $ (201) $ 301 $ — $ (644) ($ in thousands) Three months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUES Net premiums earned $ 13,786 $ 1,503 $ — $ — $ 15,289 Net investment income 389 614 16 (135) 884 Investment gains 678 747 5 — 1,430 Other income 162 334 274 (608) 162 15,015 3,198 295 (743) 17,765 BENEFITS AND EXPENSES Policyholder benefits paid 11,851 1,646 — (194) 13,303 Amortization of deferred policy acquisition costs 681 155 — — 836 Commissions 1,431 62 — — 1,493 General and administrative expenses 2,027 554 280 (549) 2,312 Taxes, licenses and fees 564 40 — — 604 Interest expense — 10 190 — 200 16,554 2,467 470 (743) 18,748 Income (Loss) Before Income Taxes (1,539) 731 (175) — (983) INCOME TAX EXPENSE (BENEFIT) (347) 179 (37) — (205) Net Income (Loss) $ (1,192) $ 552 $ (138) $ — $ (778) ($ in thousands) Nine months ended September 30, 2021 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter- company Eliminations Total REVENUES Net premiums earned $ 41,229 $ 4,328 $ — $ — $ 45,557 Net investment income 1,115 1,787 26 (405) 2,523 Investment gains (losses) 183 576 (7) — 752 Other income 393 640 844 (1,483) 394 42,920 7,331 863 (1,888) 49,226 BENEFITS AND EXPENSES Policyholder benefits paid 29,101 4,013 — (329) 32,785 Amortization of deferred policy acquisition costs 2,061 595 — — 2,656 Commissions 5,670 231 — — 5,901 General and administrative expenses 6,205 1,406 801 (1,559) 6,853 Taxes, licenses and fees 1,639 157 — — 1,796 Interest expense — 50 412 — 462 44,676 6,452 1,213 (1,888) 50,453 Income (Loss) Before Income Taxes (1,756) 879 (350) — (1,227) INCOME TAX EXPENSE (BENEFIT) (372) 182 (76) — (266) Net Income (Loss) $ (1,384) $ 697 $ (274) $ — $ (961) ($ in thousands) Nine months ended September 30, 2020 P&C Insurance Operations Life Insurance Operations Non-Insurance Operations Inter-company Total REVENUES Net premiums earned $ 40,996 $ 4,420 $ — $ — $ 45,416 Net investment income 1,169 2,003 42 (405) 2,809 Investment gains (losses) 693 296 (1) — 988 Other income 449 921 796 (1,716) 450 43,307 7,640 837 (2,121) 49,663 BENEFITS AND EXPENSES Policyholder benefits paid 37,264 3,908 — (550) 40,622 Amortization of deferred policy acquisition costs 2,043 706 — — 2,749 Commissions 5,411 204 — — 5,615 General and administrative expenses 5,913 1,396 461 (1,571) 6,199 Taxes, licenses and fees 1,740 179 — — 1,919 Interest expense — 29 631 — 660 52,371 6,422 1,092 (2,121) 57,764 Income (Loss) Before Income Taxes (9,064) 1,218 (255) — (8,101) INCOME TAX EXPENSE (BENEFIT) (1,937) 254 (54) — (1,737) Net Income (Loss) $ (7,127) $ 964 $ (201) $ — $ (6,364)
Schedule of Gross and Net Premiums Written	The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2021 and 2020, respectively: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Life, accident and health operations premiums written: Traditional life insurance $ 989 $ 1,003 $ 3,020 $ 3,086 Accident and health insurance 538 538 1,324 1,330 Gross life, accident and health 1,527 1,541 4,344 4,416 Reinsurance premium ceded (16) (14) (75) (71) Net life, accident and health premiums written $ 1,511 $ 1,527 $ 4,269 $ 4,345 Property and Casualty operations premiums written: Dwelling fire & extended coverage $ 11,721 $ 10,316 $ 36,344 $ 31,710 Homeowners (Including mobile homeowners) 4,774 5,205 15,484 15,933 Other liability 482 556 1,560 1,747 Gross property and casualty 16,977 16,077 53,388 49,390 Reinsurance premium ceded (2,539) (1,999) (7,466) (5,547) Net property and casualty written $ 14,438 $ 14,078 $ 45,922 $ 43,843 Consolidated gross premiums written $ 18,504 $ 17,618 $ 57,732 $ 53,806 Reinsurance premium ceded (2,555) (2,013) (7,541) (5,618) Consolidated net premiums written $ 15,949 $ 15,605 $ 50,191 $ 48,188
Schedule of Gross and Net Premiums Earned	The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2021 and 2020, respectively: ($ in thousands) Three months ended Nine months ended 2021 2020 2021 2020 Life, accident and health operations premiums earned: Traditional life insurance $ 920 $ 978 $ 3,081 $ 3,165 Accident and health insurance 539 539 1,322 1,326 Gross life, accident and health 1,459 1,517 4,403 4,491 Reinsurance premium ceded (16) (14) (75) (71) Net life, accident and health premiums earned $ 1,443 $ 1,503 $ 4,328 $ 4,420 Property and Casualty operations premiums earned: Dwelling fire & extended coverage $ 11,203 $ 10,103 $ 32,072 $ 29,591 Homeowners (Including mobile homeowners) 5,055 5,120 15,034 15,281 Other liability 519 562 1,589 1,671 Gross property and casualty 16,777 15,785 48,695 46,543 Reinsurance premium ceded (2,539) (1,999) (7,466) (5,547) Net property and casualty earned $ 14,238 $ 13,786 $ 41,229 $ 40,996 Consolidated gross premiums earned $ 18,236 $ 17,302 $ 53,098 $ 51,034 Reinsurance premium ceded (2,555) (2,013) (7,541) (5,618) Consolidated net premiums earned $ 15,681 $ 15,289 $ 45,557 $ 45,416

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Earnings Per Share, Concentration of Credit Risk) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Weighted average number of shares outstanding	2,531,472	2,530,736
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0
Cash, uninsured amount	$ 10,042,000
Allowance for credit loss on reinsurance recoverable	0		$ 0
Concentration Risk [Line Items]
Policy receivables and agents' balances, net	15,101,000		$ 12,345,000
Single Largest Agent Balance Due
Concentration Risk [Line Items]
Policy receivables and agents' balances, net	$ 45,000

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended
	Jun. 30, 2007	Dec. 31, 2005	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investments			$ 113,195	$ 99,150
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments			$ 556	$ 460
Variable Interest Entity, Not Primary Beneficiary | Maximum
Variable Interest Entity [Line Items]
Limited partnership, percent owned			1.00%
Trust Preferred Security Offering, 2005
Variable Interest Entity [Line Items]
Payments to acquire trust preferred securities		$ 9,000
Subordinated debt		9,279
Proceeds from issuance of trust preferred securities		9,005
Equity investment		$ 279
Trust Preferred Security Offering, 2007
Variable Interest Entity [Line Items]
Payments to acquire trust preferred securities	$ 3,000
Proceeds from issuance of trust preferred securities	2,995
Equity investment	93
Trust Preferred Security Offering, 2007 | Unsecured Debt
Variable Interest Entity [Line Items]
Subordinated debt	$ 3,093

INVESTMENTS (Narrative) (Detail

INVESTMENTS (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Gain (Loss) on Securities [Line Items]
Held-to-maturity securities, unrealized losses	$ 0	$ 0
Other-than-temporary impairments, available-for-sale securities	0	180,000
Single largest loss position	105,000	55,000
Second largest loss position	44,000	37,000
Third largest loss position	$ 42,000	$ 27,000
Maximum
Gain (Loss) on Securities [Line Items]
Percent of investment portfolio below investment grade	7.00%

INVESTMENTS (Available-for-Sale

INVESTMENTS (Available-for-Sale Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	$ 92,593	$ 76,241
Fixed maturities, Gross Unrealized Gains	3,940	5,389
Fixed maturities, Gross Unrealized Losses	613	231
Fixed maturities, Fair Value	95,920	81,399
Equity securities, Amortized Cost	1,761	1,918
Equity securities, Gross Unrealized Gains	3,076	2,832
Equity securities, Gross Unrealized Losses	0	0
Equity securities, Fair Value	4,837	4,750
Amortized Cost	94,354	78,159
Gross Unrealized Gains	7,016	8,221
Gross Unrealized Losses	613	231
Fair Value	100,757	86,149
U.S. Government corporations and agencies
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	5,170	4,300
Fixed maturities, Gross Unrealized Gains	219	323
Fixed maturities, Gross Unrealized Losses	8	9
Fixed maturities, Fair Value	5,381	4,614
Agency mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	19,587	19,773
Fixed maturities, Gross Unrealized Gains	432	919
Fixed maturities, Gross Unrealized Losses	164	63
Fixed maturities, Fair Value	19,855	20,629
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	5,933	8,233
Fixed maturities, Gross Unrealized Gains	99	137
Fixed maturities, Gross Unrealized Losses	4	27
Fixed maturities, Fair Value	6,028	8,343
Private label mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	2,954	1,418
Fixed maturities, Gross Unrealized Gains	19	50
Fixed maturities, Gross Unrealized Losses	19	55
Fixed maturities, Fair Value	2,954	1,413
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	50,327	35,930
Fixed maturities, Gross Unrealized Gains	3,017	3,771
Fixed maturities, Gross Unrealized Losses	369	50
Fixed maturities, Fair Value	52,975	39,651
States, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fixed maturities, Amortized Cost	8,622	6,587
Fixed maturities, Gross Unrealized Gains	154	189
Fixed maturities, Gross Unrealized Losses	49	27
Fixed maturities, Fair Value	$ 8,727	$ 6,749

INVESTMENTS (Held-to-Maturity S

INVESTMENTS (Held-to-Maturity Securities) (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 632,000	$ 873,000
Held-to-maturity securities, unrealized gains	50,000	73,000
Held-to-maturity securities, unrealized losses	0	0
Fair Value	682,000	946,000
Agency mortgage backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	632,000	873,000
Held-to-maturity securities, unrealized gains	50,000	73,000
Held-to-maturity securities, unrealized losses	0	0
Fair Value	$ 682,000	$ 946,000

INVESTMENTS (Amortized Cost and

INVESTMENTS (Amortized Cost and Aggregate Fair Value of Debt Securities, by Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments [Abstract]
Available-for-sale Securities, Due in one year or less, Amortized Cost	$ 1,702
Available-for-sale Securities, Due in one year or less, Fair Value	1,725
Available-for-sale Securities, Due after one year through five years, Amortized Cost	22,218
Available-for-sale Securities, Due after one year through five years, Fair Value	23,293
Available-for-sale Securities, Due after five years through ten years, Amortized Cost	22,800
Available-for-sale Securities, Due after five years through ten years, Fair Value	23,741
Available-for-sale Securities, Due after ten years, Amortized Cost	45,873
Available-for-sale Securities, Due after ten years, Fair Value	47,161
Fixed maturities, Amortized Cost	92,593	$ 76,241
Available-for-sale Securities, Fair Value	95,920
Held-to-maturity Securities, Due after one year through five years, Amortized Cost	10
Held-to-maturity Securities, Due after one year through five years, Fair Value	10
Held-to-maturity Securities, Due after five years through ten years, Amortized Cost	3
Held-to-maturity Securities, Due after five years through ten years, Fair Value	3
Held-to-maturity Securities, Due after ten years, Amortized Cost	619
Held-to-maturity Securities, Due after ten years, Fair Value	669
Held-to-maturity Securities, Amortized Cost	632	873
Debt Securities, Held-to-maturity, Fair Value	$ 682	$ 946

INVESTMENTS (Schedule of Contin

INVESTMENTS (Schedule of Continuous Losses) (Details) $ in Thousands	Sep. 30, 2021USD ($)investment	Dec. 31, 2020USD ($)investment
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 25,183	$ 9,738
Less than 12 Months, Gross Unrealized Losses	596	219
12 Months or Longer, Fair Value	789	497
12 Months or Longer, Gross Unrealized Losses	17	12
Total Fair Value	25,972	10,235
Total Gross Unrealized Losses	$ 613	$ 231
Total Securities in a Loss Position | investment	41	20
U.S. Government corporations and agencies
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 1,821	$ 666
Less than 12 Months, Gross Unrealized Losses	8	9
12 Months or Longer, Fair Value	0	0
12 Months or Longer, Gross Unrealized Losses	0	0
Total Fair Value	1,821	666
Total Gross Unrealized Losses	$ 8	$ 9
Total Securities in a Loss Position | investment	2	1
Agency mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 8,272	$ 2,264
Less than 12 Months, Gross Unrealized Losses	164	56
12 Months or Longer, Fair Value	0	2
12 Months or Longer, Gross Unrealized Losses	0	7
Total Fair Value	8,272	2,266
Total Gross Unrealized Losses	$ 164	$ 63
Total Securities in a Loss Position | investment	16	8
Asset backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 2,156	$ 1,737
Less than 12 Months, Gross Unrealized Losses	4	27
12 Months or Longer, Fair Value	0	0
12 Months or Longer, Gross Unrealized Losses	0	0
Total Fair Value	2,156	1,737
Total Gross Unrealized Losses	$ 4	$ 27
Total Securities in a Loss Position | investment	3	2
Private label mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 2,019	$ 891
Less than 12 Months, Gross Unrealized Losses	19	55
12 Months or Longer, Fair Value	0	0
12 Months or Longer, Gross Unrealized Losses	0	0
Total Fair Value	2,019	891
Total Gross Unrealized Losses	$ 19	$ 55
Total Securities in a Loss Position | investment	2	1
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 8,690	$ 2,467
Less than 12 Months, Gross Unrealized Losses	369	45
12 Months or Longer, Fair Value	0	495
12 Months or Longer, Gross Unrealized Losses	0	5
Total Fair Value	8,690	2,962
Total Gross Unrealized Losses	$ 369	$ 50
Total Securities in a Loss Position | investment	14	5
States, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 2,225	$ 1,713
Less than 12 Months, Gross Unrealized Losses	32	27
12 Months or Longer, Fair Value	789	0
12 Months or Longer, Gross Unrealized Losses	17	0
Total Fair Value	3,014	1,713
Total Gross Unrealized Losses	$ 49	$ 27
Total Securities in a Loss Position | investment	4	3

INVESTMENTS (Major Categories o

INVESTMENTS (Major Categories of Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	$ 888	$ 919	$ 2,636	$ 2,918
Less: Investment expenses	36	35	113	109
Net investment income	852	884	2,523	2,809
Fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	824	824	2,414	2,696
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	21	30	91	102
Mortgage loans on real estate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	1	1	5	5
Investment real estate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	0	0	0	1
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	34	36	103	108
Other
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Gross investment income	$ 8	$ 28	$ 23	$ 6

INVESTMENTS (Major Categories_2

INVESTMENTS (Major Categories of Investment Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Gain (Loss) on Securities [Line Items]
Investment gains	$ 11	$ 1,430	$ 752	$ 988
Gains (losses) on trading securities	0	5	13	(1)
Realized gains on fixed maturities
Gain (Loss) on Securities [Line Items]
Investment gains	0	1,091	106	1,107
Realized gains on equity securities
Gain (Loss) on Securities [Line Items]
Investment gains	0	0	357	0
Change in fair value of equity securities
Gain (Loss) on Securities [Line Items]
Investment gains	46	223	244	(272)
Change in surrender value of company owned life insurance
Gain (Loss) on Securities [Line Items]
Investment gains	(35)	125	26	165
Other gains (losses) principally real estate
Gain (Loss) on Securities [Line Items]
Investment gains	$ 0	$ (14)	$ 6	$ (11)

INVESTMENTS (Schedule of Unreal

INVESTMENTS (Schedule of Unrealized Appreciation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments [Abstract]
Fixed maturities			$ (1,830)	$ 1,277
Deferred income tax			384	(268)
Change in net unrealized gains (losses) on available-for-sale securities	$ (415)	$ (486)	$ (1,446)	$ 1,009

FAIR VALUE OF FINANCIAL ASSET_3

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Narrative) (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair value measurements of assets	$ 1,622,000
Fair value measurements of liabilities	0
Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	0	$ 0
Liabilities, fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_4

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Assets/Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	$ 95,920	$ 81,399
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	183	169
Equity securities	4,837	4,750
Total Financial Assets	100,940	86,318
Total Financial Liabilities		(619)
Recurring Basis | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities		(619)
Recurring Basis | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	5,381	4,614
Recurring Basis | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	19,855	20,629
Recurring Basis | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	6,028	8,343
Recurring Basis | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	52,975	39,651
Recurring Basis | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,954	1,413
Recurring Basis | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	8,727	6,749
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	183	169
Equity securities	3,215	3,248
Total Financial Assets	24,103	23,309
Total Financial Liabilities		0
Recurring Basis | Level 1 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities		0
Recurring Basis | Level 1 | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	5,381	4,614
Recurring Basis | Level 1 | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	12,407	12,044
Recurring Basis | Level 1 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,917	2,343
Recurring Basis | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 1 | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	891
Recurring Basis | Level 1 | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Equity securities	0	0
Total Financial Assets	75,215	61,507
Total Financial Liabilities		0
Recurring Basis | Level 2 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities		0
Recurring Basis | Level 2 | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 2 | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	7,448	8,585
Recurring Basis | Level 2 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,111	6,000
Recurring Basis | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	52,975	39,651
Recurring Basis | Level 2 | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,954	522
Recurring Basis | Level 2 | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	8,727	6,749
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Equity securities	1,622	1,502
Total Financial Assets	1,622	1,502
Total Financial Liabilities		(619)
Recurring Basis | Level 3 | Financial Liabilities | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities		(619)
Recurring Basis | Level 3 | U.S. Government corporations and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Agency mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | Private label mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Recurring Basis | Level 3 | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET_5

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Level 3 Reconciliation) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Equity Securities
Ending balance	$ 1,622
Interest Rate Swap
Ending balance	0
Recurring Basis | Interest rate swap
Interest Rate Swap
Beginning balance	(619)	$ (65)
Included in earnings	0	0
Included in other comprehensive income	619	(554)
Purchases:	0	0
Sales:	0	0
Issuances:	0	0
Settlements:	0	0
Transfers in/(out) of Level 3	0	0
Ending balance	0	(619)
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held	0	0
Recurring Basis | Total Fixed Maturities
Equity Securities
Beginning balance:	1,502	1,315
Included in earnings	120	187
Included in other comprehensive income	0	0
Purchases:	0	0
Sales:	0	0
Issuances:	0	0
Settlements:	0	0
Transfers in/(out) of Level 3	0	0
Ending balance	1,622	1,502
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held	$ 120	$ 187

FAIR VALUE OF FINANCIAL ASSET_6

FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Fair Value of Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other policyholder funds
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	$ 1,365	$ 1,342
Estimated Fair Value, Liabilities	1,365	1,342
Short-term notes payable and current portion of long-term debt
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	500	500
Estimated Fair Value, Liabilities	500	500
Long-term debt
Liabilities and Related Instruments [Abstract]
Carrying Value, Liabilities	13,186	13,177
Estimated Fair Value, Liabilities	13,186	13,177
Held-to-maturity securities
Assets and Related Instruments [Abstract]
Carrying Value, Assets	632	873
Estimated Fair Value, Assets	682	946
Mortgage loans on real estate
Assets and Related Instruments [Abstract]
Carrying Value, Assets	143	145
Estimated Fair Value, Assets	143	145
Policy loans
Assets and Related Instruments [Abstract]
Carrying Value, Assets	1,782	1,846
Estimated Fair Value, Assets	1,782	1,846
Company owned life insurance
Assets and Related Instruments [Abstract]
Carrying Value, Assets	5,024	4,998
Estimated Fair Value, Assets	5,024	4,998
Other invested assets
Assets and Related Instruments [Abstract]
Carrying Value, Assets	1,740	2,033
Estimated Fair Value, Assets	$ 1,740	$ 2,033

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,484	$ 5,472
Less accumulated depreciation	3,968	3,900
Property and equipment, net	1,516	1,572
Depreciation expense	71	109
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,504	3,491
Electronic data processing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,502	1,498
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 478	$ 483

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred income tax asset	$ 1,250	$ 706

INCOME TAXES (Deferred Tax Asse

INCOME TAXES (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
General expenses	$ 1,553	$ 1,448
Unearned premiums	1,531	1,313
Claims liabilities	706	698
NOL carryforward	632	632
Impairment on real estate owned	147	147
Unrealized loss on interest rate swaps	0	130
Deferred tax assets	4,569	4,368
Unrealized losses on trading securities	(3)	(3)
Depreciation	(90)	(95)
Deferred policy acquisition costs	(1,600)	(1,555)
Pre-1984 policyholder surplus account	(281)	(331)
Unrealized gains on securities available-for-sale	(699)	(1,083)
Unrealized gains on equity securities	(646)	(595)
Deferred tax liabilities	(3,319)	(3,662)
Net deferred tax asset	$ 1,250	$ 706

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax Effects of Changes in Temporary Differences) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Deferred policy acquisition costs			$ 45	$ 9
Other-than-temporary impairments			0	10
Trading securities			0	(1)
Unearned premiums			(218)	(135)
General expenses			(105)	(51)
Depreciation			(5)	(2)
Claims liabilities			(8)	(17)
Impact of repeal of special provision on pre-1984 policyholder surplus			(50)	(50)
NOL carryforward			0	(131)
Unrealized gains (losses) on equity securities			51	(57)
Deferred income tax benefit	$ (230)	$ (226)	$ (290)	$ (425)

INCOME TAXES (Schedule of Effec

INCOME TAXES (Schedule of Effective Income Tax Rate Reconciliation) (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Federal income tax rate applied to pre-tax income (loss)	21.00%	21.00%
Dividends received deduction and tax-exempt interest	0.50%	0.10%
Company owned life insurance	0.40%	0.40%
Other, net	(0.20%)	(0.10%)
Effective federal income tax rate	21.70%	21.40%

NOTES PAYABLE AND LONG-TERM D_3

NOTES PAYABLE AND LONG-TERM DEBT (Short-Term Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Short-term notes payable and current portion of long-term debt	$ 500	$ 500
Notes Payable to Banks | Unsecured Debt
Short-term Debt [Line Items]
Interest rate description	WSJ
Basis spread on variable rate	0.50%
Floor	4.75%
Short-term notes payable and current portion of long-term debt	$ 500	$ 500

NOTES PAYABLE AND LONG-TERM D_4

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 21, 2007	Dec. 15, 2005	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt			$ 13,186	$ 13,177
Unsecured Debt | Promissory Note
Debt Instrument [Line Items]
Interest rate description			WSJ
Basis spread on variable rate			0.50%
Floor			4.75%
Long-term debt			$ 1,000	1,000
Unsecured Debt | Trust Preferred Security Offering, 2005
Debt Instrument [Line Items]
Debt issuance costs, net			134	140
Long-term debt			9,145	9,139
Unsecured Debt | Trust Preferred Security Offering, 2005 | Three-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		3.75%
Unsecured Debt | Trust Preferred Security Offering, 2007
Debt Instrument [Line Items]
Debt issuance costs, net			52	55
Long-term debt			$ 3,041	$ 3,038
Unsecured Debt | Trust Preferred Security Offering, 2007 | Three-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.40%

NOTES PAYABLE AND LONG-TERM D_5

NOTES PAYABLE AND LONG-TERM DEBT (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Feb. 26, 2020
Debt Instrument [Line Items]
Cash flow hedge, derivative instrument liabilities at fair value					$ 619,000
Unrealized gain (loss) on interest rate swap	$ 0	$ 39,000	$ 489,000	$ (580,000)	438,000
Securities on deposit					957,000
Collateral Pledged [Member]
Debt Instrument [Line Items]
Available-for-sale securities pledged as collateral					957,000
Interest rate swap
Debt Instrument [Line Items]
Derivative, notional amount						$ 3,000,000
Derivative, fixed interest rate						4.93%
Cash flow hedge, liability at fair value					155,000
Interest rate swap
Debt Instrument [Line Items]
Derivative, notional amount						$ 9,000,000
Derivative, fixed interest rate						5.28%
Cash flow hedge, liability at fair value					$ 464,000

POLICY AND CLAIM RESERVES (Prop

POLICY AND CLAIM RESERVES (Property and Casualty Reserve) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Less reinsurance recoverable on unpaid losses	$ 6,874
Net losses:
Estimated claims and claim adjustment expenses for claims arising in prior years	(1,292)	$ (1,214)
Claims and claim adjustment expense payments for claims arising in:
Plus reinsurance recoverable on unpaid losses	11,931
Consolidated Property and Casualty Insurance Entity
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance, beginning of year	10,177	7,199
Less reinsurance recoverable on unpaid losses	3,321	249
Net balances at beginning of year	6,856	6,950
Net losses:
Provision for claims and claim adjustment expenses for claims arising in current year	30,393	38,477
Estimated claims and claim adjustment expenses for claims arising in prior years	(1,292)	(1,214)
Total increases	29,101	37,263
Claims and claim adjustment expense payments for claims arising in:
Current year	25,586	31,637
Prior years	3,768	4,531
Total payments	29,354	36,168
Net balances at end of period	6,603	8,045
Plus reinsurance recoverable on unpaid losses	12,378	2,778
Claims and claim adjustment expense reserves at end of period	$ 18,981	$ 10,823

POLICY AND CLAIM RESERVES (Narr

POLICY AND CLAIM RESERVES (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Insurance [Abstract]
Estimated claims and claim adjustment expenses for claims arising in prior years	$ 1,292	$ 1,214
Reserve for unpaid claims	342		$ 426
Policy and contract claims	$ 1,290		$ 1,309

REINSURANCE (Details)

REINSURANCE (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Reinsurance Maintained by Layers [Line Items]
Life insurance policy reinsurance limit	$ 50,000
Reinsurance recoverable	11,931,000	$ 6,874,000
Single Reinsurer
Reinsurance Maintained by Layers [Line Items]
Reinsurance recoverable	92,000	$ 1,263,000
First Layer
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	$ 4,000,000
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 13,500,000
Second Layer
Reinsurance Maintained by Layers [Line Items]
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 25,000,000
Reinsurer's limit of liability	$ 17,500,000
Third Layer
Reinsurance Maintained by Layers [Line Items]
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 30,000,000
Reinsurer's limit of liability	42,500,000
Catastrophe Aggregate
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	$ 2,000,000
Percent of reinsured losses covered by layer	100.00%
Covered losses	$ 2,000,000
First Catastrophe Event
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	4,000,000
Second Catastrophe Event
Reinsurance Maintained by Layers [Line Items]
Catastrophe reinsurance retention	$ 2,000,000

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details)	9 Months Ended
	Sep. 30, 2021USD ($)hours	Sep. 30, 2020USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Minimum hours of service completed in year of contribution | hours	1,000
Matching contribution	$ 137,000	$ 140,000
Employer matching contribution, percent	5.00%
Cash contributions to ESOP	$ 0	100,000
ESOP debt structure	0
Non-Qualified Deferred Compensation Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Increase (decrease) in deferred compensation arrangement	$ 230,000	$ 124,000
Executive Officers
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution, percent	15.00%

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)	May 21, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jun. 01, 2020
Stockholders' Equity Note [Abstract]
Net loss		$ (644,000)	$ (778,000)	$ (961,000)	$ (6,364,000)	$ (8,619,000)
Dividends paid		(152,000)	(151,000)	(456,000)	(455,000)	(607,000)
Other comprehensive income, net of tax		$ (415,000)	(447,000)	(957,000)	429,000	1,142,000
Common stock issued				$ 26,000	25,000	25,000
Treasury stock acquired			$ 13,000		$ 34,000	$ 36,000
Shares of common stock repurchased and placed in treasury (in shares)				0		2,509
Maximum
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock repurchase program, authorized amount							$ 500,000
Directors
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock issued for compensation (in shares)	2,262

SHAREHOLDERS' EQUITY (Preferred

SHAREHOLDERS' EQUITY (Preferred and Common Stock) (Details) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized (in shares)	3,000,000	3,000,000
Common stock, shares issued (in shares)	2,535,577	2,533,315
Treasury (in shares)	2,945	2,945
Common stock, shares outstanding (in shares)	2,532,632	2,530,370
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized (in shares)	2,000,000	2,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 3,585
Other comprehensive income (loss), net of tax	$ (415)	$ (447)	(957)	$ 429	$ 1,142
Ending balance	2,628	2,872	2,628	2,872	3,585
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(489)	(51)	(51)
Other comprehensive gain (loss) before reclassifications			489	(580)
Other comprehensive income (loss), net of tax			489	(580)
Ending balance	0	(631)	0	(631)	(489)
Unrealized Gains (Losses) on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			4,074	2,494	2,494
Other comprehensive gain (loss) before reclassifications			(1,362)	2,072
Amounts reclassified from accumulated other comprehensive loss			(84)	(1,063)
Other comprehensive income (loss), net of tax			(1,446)	1,009
Ending balance	$ 2,628	$ 3,503	$ 2,628	$ 3,503	$ 4,074

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Amounts reclassified out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains	$ 11	$ 1,430	$ 752	$ 988
Tax expense	165	205	266	1,737
Net Loss	$ (644)	$ (778)	(961)	(6,364)	$ (8,619)
Amounts Reclassified from Accumulated Other Comprehensive Income | Unrealized Gains (Losses) on Available-for-Sale Securities
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains			106	1,345
Total before tax			106	1,345
Tax expense			(22)	(282)
Net Loss			$ 84	$ 1,063

SEGMENTS (Narrative) (Details)

SEGMENTS (Narrative) (Details)	9 Months Ended
	Sep. 30, 2021Segments
Segment Reporting [Abstract]
Number of operating segments	1

SEGMENTS (Schedule of Segment R

SEGMENTS (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Assets	$ 163,259		$ 163,259		$ 150,540
Net premiums earned	15,681	$ 15,289	45,557	$ 45,416
Net investment income	852	884	2,523	2,809
Investment gains	11	1,430	752	988
Other income	127	162	394	450
Total Revenues	16,671	17,765	49,226	49,663
Policyholder benefits paid	11,773	13,303	32,785	40,622
Amortization of deferred policy acquisition costs	855	836	2,656	2,749
Commissions	2,066	1,493	5,901	5,615
General and administrative expenses	1,983	2,312	6,853	6,199
Taxes, licenses and fees	632	604	1,796	1,919
Interest expense	171	200	462	660
Total Benefits, Losses and Expenses	17,480	18,748	50,453	57,764
Loss Before Income Taxes	(809)	(983)	(1,227)	(8,101)
Total income tax expense	(165)	(205)	(266)	(1,737)
Net Loss	(644)	(778)	(961)	(6,364)	(8,619)
Inter- company Eliminations
Segment Reporting Information [Line Items]
Net premiums earned	0	0	0	0
Net investment income	(135)	(135)	(405)	(405)
Investment gains	0	0	0	0
Other income	(513)	(608)	(1,483)	(1,716)
Total Revenues	(648)	(743)	(1,888)	(2,121)
Policyholder benefits paid	(114)	(194)	(329)	(550)
Amortization of deferred policy acquisition costs	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	(534)	(549)	(1,559)	(1,571)
Taxes, licenses and fees	0	0	0	0
Interest expense	0	0	0	0
Total Benefits, Losses and Expenses	(648)	(743)	(1,888)	(2,121)
Loss Before Income Taxes	0	0	0	0
Total income tax expense	0	0	0	0
Net Loss	0	0	0	0
P&C Insurance Operations
Segment Reporting Information [Line Items]
Assets	98,115		98,115		85,375
Net premiums earned	14,238	13,786	41,229	40,996
Net investment income	392	389	1,115	1,169
Investment gains	(55)	678	183	693
Other income	126	162	393	449
Total Revenues	14,701	15,015	42,920	43,307
Policyholder benefits paid	10,437	11,851	29,101	37,264
Amortization of deferred policy acquisition costs	687	681	2,061	2,043
Commissions	1,992	1,431	5,670	5,411
General and administrative expenses	1,917	2,027	6,205	5,913
Taxes, licenses and fees	601	564	1,639	1,740
Interest expense	0	0	0	0
Total Benefits, Losses and Expenses	15,634	16,554	44,676	52,371
Loss Before Income Taxes	(933)	(1,539)	(1,756)	(9,064)
Total income tax expense	(189)	(347)	(372)	(1,937)
Net Loss	(744)	(1,192)	(1,384)	(7,127)
Life Insurance Operations
Segment Reporting Information [Line Items]
Assets	59,512		59,512		59,394
Net premiums earned	1,443	1,503	4,328	4,420
Net investment income	590	614	1,787	2,003
Investment gains	67	747	576	296
Other income	221	334	640	921
Total Revenues	2,321	3,198	7,331	7,640
Policyholder benefits paid	1,450	1,646	4,013	3,908
Amortization of deferred policy acquisition costs	168	155	595	706
Commissions	74	62	231	204
General and administrative expenses	499	554	1,406	1,396
Taxes, licenses and fees	31	40	157	179
Interest expense	30	10	50	29
Total Benefits, Losses and Expenses	2,252	2,467	6,452	6,422
Loss Before Income Taxes	69	731	879	1,218
Total income tax expense	270	179	182	254
Net Loss	(201)	552	697	964
Non-Insurance Operations
Segment Reporting Information [Line Items]
Assets	5,632		5,632		$ 5,771
Net premiums earned	0	0	0	0
Net investment income	5	16	26	42
Investment gains	(1)	5	(7)	(1)
Other income	293	274	844	796
Total Revenues	297	295	863	837
Policyholder benefits paid	0	0	0	0
Amortization of deferred policy acquisition costs	0	0	0	0
Commissions	0	0	0	0
General and administrative expenses	101	280	801	461
Taxes, licenses and fees	0	0	0	0
Interest expense	141	190	412	631
Total Benefits, Losses and Expenses	242	470	1,213	1,092
Loss Before Income Taxes	55	(175)	(350)	(255)
Total income tax expense	(246)	(37)	(76)	(54)
Net Loss	$ 301	$ (138)	$ (274)	$ (201)

SEGMENTS (Schedule of Gross and

SEGMENTS (Schedule of Gross and Net Premiums Written) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Gross premiums written	$ 18,504	$ 17,618	$ 57,732	$ 53,806
Reinsurance premium ceded	(2,555)	(2,013)	(7,541)	(5,618)
Net premiums written	15,949	15,605	50,191	48,188
Life Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums written	1,527	1,541	4,344	4,416
Reinsurance premium ceded	(16)	(14)	(75)	(71)
Net premiums written	1,511	1,527	4,269	4,345
Life Insurance Operations | Traditional life insurance
Segment Reporting Information [Line Items]
Gross premiums written	989	1,003	3,020	3,086
Life Insurance Operations | Accident and health insurance
Segment Reporting Information [Line Items]
Gross premiums written	538	538	1,324	1,330
P&C Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums written	16,977	16,077	53,388	49,390
Reinsurance premium ceded	(2,539)	(1,999)	(7,466)	(5,547)
Net premiums written	14,438	14,078	45,922	43,843
P&C Insurance Operations | Dwelling fire & extended coverage
Segment Reporting Information [Line Items]
Gross premiums written	11,721	10,316	36,344	31,710
P&C Insurance Operations | Homeowners (Including mobile homeowners)
Segment Reporting Information [Line Items]
Gross premiums written	4,774	5,205	15,484	15,933
P&C Insurance Operations | Other liability
Segment Reporting Information [Line Items]
Gross premiums written	$ 482	$ 556	$ 1,560	$ 1,747

SEGMENTS (Schedule of Gross a_2

SEGMENTS (Schedule of Gross and Net Premiums Earned) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Gross premiums earned	$ 18,236	$ 17,302	$ 53,098	$ 51,034
Reinsurance premium ceded	(2,555)	(2,013)	(7,541)	(5,618)
Net premiums earned	15,681	15,289	45,557	45,416
Life Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums earned	1,459	1,517	4,403	4,491
Reinsurance premium ceded	(16)	(14)	(75)	(71)
Net premiums earned	1,443	1,503	4,328	4,420
Life Insurance Operations | Traditional life insurance
Segment Reporting Information [Line Items]
Gross premiums earned	920	978	3,081	3,165
Life Insurance Operations | Accident and health insurance
Segment Reporting Information [Line Items]
Gross premiums earned	539	539	1,322	1,326
P&C Insurance Operations
Segment Reporting Information [Line Items]
Gross premiums earned	16,777	15,785	48,695	46,543
Reinsurance premium ceded	(2,539)	(1,999)	(7,466)	(5,547)
Net premiums earned	14,238	13,786	41,229	40,996
P&C Insurance Operations | Dwelling fire & extended coverage
Segment Reporting Information [Line Items]
Gross premiums earned	11,203	10,103	32,072	29,591
P&C Insurance Operations | Homeowners (Including mobile homeowners)
Segment Reporting Information [Line Items]
Gross premiums earned	5,055	5,120	15,034	15,281
P&C Insurance Operations | Other liability
Segment Reporting Information [Line Items]
Gross premiums earned	$ 519	$ 562	$ 1,589	$ 1,671

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Thousands	Sep. 30, 2021USD ($)claim
Commitments and Contingencies Disclosure [Abstract]
Current accruals for legal fees | $	$ 750
Hurricane | Texas
Loss Contingencies [Line Items]
Pending claims, number | claim	1

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 451,000	$ 593,000
Income taxes (received) paid	350,000	230,000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in equity	26,000	25,000	$ 25,000
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in equity	2,000	1,000
Common Stock | Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued	2,000	1,000
Additional Paid-in Capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in equity	$ 24,000	$ 24,000