Protective Insurance (PTVCA) 10-Q 5 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 01, 2013	Nov. 01, 2013
		Class A (voting) [Member]	Class B (non-voting) [Member]
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'BALDWIN & LYONS INC	'	'
Entity Central Index Key	'0000009346	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Accelerated Filer	'	'
Entity Information [Line Items]	'	'	'
Entity Common Stock, Shares Outstanding	'	2,623,109	12,299,664
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'Q3	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Sep-13	'	'

Unaudited_Consolidated_Balance

Unaudited Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Investments:	'	'
Fixed maturities	$419,754	$445,669
Equity securities	129,446	107,582
Limited partnerships	59,722	59,954
Short-term	4,419	4,201
Total Investments	613,341	617,406
Cash and cash equivalents	103,387	71,549
Accounts receivable	93,059	83,400
Reinsurance recoverable	190,790	175,191
Other assets	63,555	32,232
Current federal income taxes	939	3,246
Total Assets	1,065,071	983,024
Liabilities and shareholders' equity	'	'
Reserves for losses and loss expenses	471,548	455,454
Reserves for unearned premiums	35,888	37,273
Short-term borrowings	10,000	10,000
Accounts payable and accrued expenses	168,513	125,007
Deferred federal income taxes	11,664	8,578
Total Liabilities	697,613	636,312
Shareholders' equity:	'	'
Additional paid-in capital	50,484	50,275
Unrealized net gains on investments	39,891	35,467
Foreign exchange adjustment	1,694	1,976
Retained earnings	274,752	258,358
Shareholders' equity	367,458	346,712
Total liabilities and shareholders' equity	1,065,071	983,024
Class A voting [Member]	'	'
Shareholders' equity:	'	'
Common stock	112	112
Class B non-voting [Member]	'	'
Shareholders' equity:	'	'
Common stock	$525	$524

Unaudited_Consolidated_Balance1

Unaudited Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Class A voting [Member]	'	'
Shareholders' equity:	'	'
Common stock, par value (in dollars per share)	$0	$0
Common stock, shares authorized (in shares)	3,000,000	3,000,000
Common stock, shares outstanding (in shares)	2,623,109	2,623,109
Class B non-voting [Member]	'	'
Shareholders' equity:	'	'
Common stock, par value (in dollars per share)	$0	$0
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares outstanding (in shares)	12,299,664	12,290,035

Unaudited_Consolidated_Stateme

Unaudited Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues	'	'	'	'
Net premiums earned	$64,448	$54,853	$187,321	$176,059
Net investment income	2,192	2,343	6,587	7,196
Commissions and other income	1,519	1,263	4,441	4,390
Net realized gains on investments, excluding impairment losses	1,434	9,192	16,574	9,465
Total other-than-temporary impairment losses on investments	-4	-411	-78	-756
Totals	1,430	8,781	16,496	8,709
Total revenue	69,589	67,240	214,845	196,354
Expenses	'	'	'	'
Losses and loss expenses incurred	36,967	30,477	109,843	99,119
Other operating expenses	20,930	19,209	63,369	57,423
Total expenses	57,897	49,686	173,212	156,542
Income before federal income taxes	11,692	17,554	41,633	39,812
Federal income taxes	3,921	5,867	14,012	12,569
Net income	$7,771	$11,687	$27,621	$27,243
Per share data:	'	'	'	'
Basic and diluted earnings (in dollars per share)	$0.52	$0.78	$1.85	$1.83
Dividends paid to shareholders (in dollars per share)	$0.25	$0.25	$0.75	$0.75
Reconciliation of shares outstanding:	'	'	'	'
Average shares outstanding - basic (in shares)	14,918	14,846	14,902	14,836
Dilutive effect of share equivalents (in shares)	3	21	19	20
Average shares outstanding - diluted (in shares)	14,921	14,867	14,921	14,856

Unaudited_Consolidated_Stateme1

Unaudited Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Unaudited Consolidated Statements of Comprehensive Income [Abstract]	'	'	'	'
Net income	$7,771	$11,687	$27,621	$27,243
Unrealized net gains on securities:	'	'	'	'
Unrealized net gains arising during the period	6,921	6,104	13,699	9,107
Less: reclassification adjustment for net gains included in net income	-1,067	-1,617	-9,275	-1,220
Change in unrealized gains (losses) on investments	5,854	4,487	4,424	7,887
Foreign currency translation adjustments	199	362	-282	343
Other comprehensive income	6,053	4,849	4,142	8,230
Comprehensive income	$13,824	$16,536	$31,763	$35,473

Unaudited_Consolidated_Stateme2

Unaudited Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Unaudited Consolidated Statements of Cash Flows [Abstract]	'	'
Net cash provided by operating activities	$34,822	$24,242
Investing activities:	'	'
Purchases of available-for-sale investments	-273,675	-268,842
Purchases of limited partnership interests	0	-1,538
Proceeds from sales or maturities of available-for-sale investments	302,726	230,272
Net sales (purchases) of short-term investments	-218	95
Other investing activities	-20,308	2,113
Net cash provided by (used in) investing activities	8,525	-37,900
Financing activities:	'	'
Dividends paid to shareholders	-11,227	-11,180
Net cash used in financing activities	-11,227	-11,180
Effect of foreign exchange rates on cash and cash equivalents	-282	343
Increase (decrease) in cash and cash equivalents	31,838	-24,495
Cash and cash equivalents at beginning of period	71,549	89,726
Cash and cash equivalents at end of period	$103,387	$65,231

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	(1) Summary of Significant Accounting Policies
	Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included.  Operating results for the interim periods are not necessarily indicative of the results that may be expected for the year ended December 31, 2013.  Interim financial statements should be read in conjunction with the Company’s annual audited financial statements and other disclosures included in the Company’s most recent Form 10-K.
	Investments:  Carrying amounts for fixed maturity securities represent fair value and are based on quoted market prices, where available, or broker/dealer quotes for specific securities where quoted market prices are not available.  Equity securities are carried at quoted market prices (fair value).  The Company accounts for investments in limited partnerships using the equity method of accounting, which requires an investor in a limited partnership to record its proportionate share of the limited partnership’s net income.  To the extent that the limited partnership investees include both realized and unrealized investment gains or losses in the determination of net income or loss, then the Company would also recognize, through its consolidated statements of operations, its proportionate share of the investee’s unrealized as well as realized investment gains or losses.
	Other investments, if any, are carried at either fair value or cost, depending on the nature of the investment.  Short-term investments are carried at cost which approximates their fair values.
	Realized gains and losses on disposals of investments are determined by specific identification of the cost of investments sold and are included in income.  All fixed maturity and equity securities are considered to be available for sale; the related unrealized net gains or losses (net of applicable tax effect) are reflected directly in shareholders’ equity.  Included within available for sale fixed maturity securities are insurance-linked securities and convertible debt securities.  The changes in fair values of insurance-linked securities and portions of the changes in fair values of convertible debt securities are reflected as a component of net realized gains (losses).
	With respect to other–than-temporary impairment of investments, if a fixed maturity security is in an unrealized loss position and the Company has the intent to sell the fixed maturity security, or it is more likely than not that the Company will have to sell the fixed maturity security before recovery of its amortized cost basis, the decline in value is deemed to be other-than-temporary and is recorded to net realized losses on investments in the consolidated statements of operations.   For impaired fixed maturity securities that the Company does not intend to sell or it is more likely than not that the Company will not have to sell such securities, but the Company expects that it will not fully recover the amortized cost basis, the credit component of the other-than-temporary impairment is recognized in net realized losses on investments in the consolidated statements of operations and the non-credit component of the other-than-temporary impairment is recognized directly in shareholders’ equity (accumulated other comprehensive income).
	The credit component of an other-than-temporary impairment is determined by comparing the net present value of projected future cash flows with the amortized cost basis of the fixed maturity security.  Furthermore, unrealized losses caused by non-credit related factors related to fixed maturity securities for which the Company expects to fully recover the amortized cost basis continue to be recognized in accumulated other comprehensive income.
	The unrealized net gains or losses (net of applicable tax effect) related to equity securities are reflected directly in shareholders’ equity, unless a decline in value is determined to be other-than-temporary, in which case the loss is charged to income.  In determining if and when a decline in market value below cost is other-than-temporary, an objective analysis is made of each individual security where current market value is less than cost.  For any equity security where the unrealized loss exceeds 20% of original or adjusted cost, and where that decline has existed for a period of at least six months, the decline is treated as an other-than-temporary impairment, subject to an evaluation as to possible future recovery.  Additionally, the Company takes into account any known subjective information in evaluating for impairment without consideration to the Company’s quantitative criteria defined above.

Investments

Investments	9 Months Ended
	Sep. 30, 2013
Investments [Abstract]	'
Investments	'
	(2) Investments:
	The following is a summary of available-for-sale securities at September 30, 2013 and December 31, 2012:
														Net
					Cost or			Gross			Gross			Unrealized
		Fair			Amortized			Unrealized			Unrealized			Gains
		Value			Cost			Gains			Losses			(Losses)
	30-Sep-13
	Fixed maturities
	U.S. government obligations	$	106,136		$	106,045		$	104		$	(13	)	$	91
	Residential mortgage-backed securities		14,654			13,534			1,291			(171	)		1,120
	Commercial mortgage-backed securities		27,014			27,077			214			(277	)		(63	)
	States and municipal obligations		111,419			111,321			481			(383	)		98
	Corporate securities		135,355			134,778			2,788			(2,211	)		577
	Foreign government obligations		25,176			24,946			479			(249	)		230
	Total fixed maturities		419,754			417,701			5,357			(3,304	)		2,053
	Equity securities:
	Financial institutions		16,085			7,274			9,015			(204	)		8,811
	Industrial & miscellaneous		113,361			62,853			51,811			(1,303	)		50,508
	Total equity securities		129,446			70,127			60,826			(1,507	)		59,319
	Total	$	549,200		$	487,828		$	66,183		$	(4,811	)		61,372
											Applicable federal income taxes				(21,481	)
											Net unrealized gains - net of tax			$	39,891
	31-Dec-12
	Fixed maturities
	U.S. government obligations	$	70,742		$	70,720		$	43		$	(21	)	$	22
	Residential mortgage-backed securities		25,040			23,954			1,218			(132	)		1,086
	Commercial mortgage-backed securities		11,828			11,006			849			(27	)		822
	State and municipal obligations		194,865			194,258			757			(150	)		607
	Corporate securities		120,596			118,574			2,923			(901	)		2,022
	Foreign government obligations		22,598			22,047			602			(51	)		551
	Total fixed maturities		445,669			440,559			6,392			(1,282	)		5,110
	Equity securities:
	Financial institutions		12,394			5,925			6,542			(73	)		6,469
	Industrial & miscellaneous		95,188			52,202			44,568			(1,582	)		42,986
	Total equity securities		107,582			58,127			51,110			(1,655	)		49,455
	Total	$	553,251		$	498,686		$	57,502		$	(2,937	)		54,565
											Applicable federal income taxes				(19,098	)
											Net unrealized gains - net of tax			$	35,467
	The following table summarizes, for fixed maturity and equity security investments in an unrealized loss position at September 30, 2013 and December 31, 2012, respectively, the aggregate fair value and gross unrealized loss categorized by the duration those securities have been continuously in an unrealized loss position.
		30-Sep-13									31-Dec-12
		Number of Securities			Fair Value			Gross Unrealized Loss			Number of Securities			Fair Value			Gross Unrealized Loss
	Fixed maturity securities:
	12 months or less		508		$	109,803		$	(2,573	)		170		$	90,607		$	(483	)
	Greater than 12 months		43			15,170			(731	)		58			19,283			(799	)
	Total fixed maturities		551			124,973			(3,304	)		228			109,890			(1,282	)
	Equity securities:
	12 months or less		21			8,355			(1,341	)		20			6,955			(842	)
	Greater than 12 months		4			2,773			(166	)		11			6,640			(813	)
	Total equity securities		25			11,128			(1,507	)		31			13,595			(1,655	)
	Total fixed maturity and equity securities		576		$	136,101		$	(4,811	)		259		$	123,485		$	(2,937	)
	The fair value and the cost or amortized costs of fixed maturity investments at September 30, 2013, by contractual maturity, are shown below.  Actual maturities may ultimately differ from contractual maturities because borrowers have, in some cases, the right to call or prepay obligations with or without call or prepayment penalties. Pre-refunded municipal bonds are classified based on their pre-refunded call dates.
		Fair Value			Cost or Amortized Cost
	One year or less	$	66,609		$	66,049
	Excess of one year to five years		233,763			233,951
	Excess of five years to ten years		43,522			42,931
	Excess of ten years		6,086			5,829
	Contractual maturities		349,980			348,760
	Asset-backed securities		69,774			68,941
	Total	$	419,754		$	417,701
	Following is a summary of the components of net realized gains on investments for the periods presented in the accompanying consolidated statements of operations.
		Three Months Ended						Nine Months Ended
		30-Sep						30-Sep
		2013			2012			2013			2012
Fixed maturities:
Gross gains	$	2,043		$	1,508		$	5,695		$	2,850
Gross losses		(1,277	)		(801	)		(3,497	)		(2,952	)
Net realized gains (losses)		766			707			2,198			(102	)
Equity securities:
Gross gains		1,233			2,132			13,838			2,807
Gross losses		(358	)		(353	)		(1,767	)		(828	)
Net realized gains		875			1,779			12,071			1,979
Limited partnerships - net gain (loss)		(211	)		6,295			2,227			6,832
Totals	$	1,430		$	8,781		$	16,496		$	8,709
Net realized gains activity for investments, as shown in the previous table, are further detailed as follows:
	Three Months Ended						Nine Months Ended
	30-Sep						30-Sep
	2013			2012			2013			2012
Realized net gains on the disposal of securities	$	1,090		$	1,659		$	11,888		$	1,454
Mark-to-market adjustment		342			456			747			144
Equity in gains (losses) of limited partnership
investments - realized and unrealized		(211	)		6,295			2,227			6,832
Impairment:
Write-downs based upon objective criteria		(4	)		(411	)		(78	)		(756	)
Recovery of prior write-downs
upon sale or disposal		213			782			1,712			1,035
Totals	$	1,430		$	8,781		$	16,496		$	8,709
The mark-to-market adjustments in the table above represent the changes in fair value of (1) options embedded in convertible debt securities and (2) insurance-linked securities held by the Company.
The income from limited partnerships for the quarter and year-to-date periods ending September 30, 2013 includes an estimated $548 and $795 of net unrealized losses respectively, reported to the Company as part of the underlying assets of the various limited partnerships.  The value of limited partnerships at September 30, 2013 includes approximately $3,645 of net unrealized gains reported to the Company as part of the underlying assets of the various limited partnerships. Shareholders’ equity at September 30, 2013 includes approximately $20,814, net of federal income taxes, of earnings undistributed by limited partnerships.
As of September 30, 2013, the Company had committed funds totaling $8,500 related to two bridge loan agreements.  The Company retains possession of these funds which will only be loaned in the unlikely event that long-term financing is unavailable to the counter party in the market.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2013
Reinsurance [Abstract]	'
Reinsurance	'
	(3) Reinsurance:
	The following table summarizes the Company’s transactions with reinsurers for the 2013 and 2012 comparative periods.
		2013		2012
	Quarter ended September 30:
	Premiums ceded to reinsurers	$	30,925	$	27,110
	Losses and loss expenses
	ceded to reinsurers		26,558		19,179
	Commissions from reinsurers		5,844		3,550
	Nine months ended September 30:
	Premiums ceded to reinsurers		87,335		76,329
	Losses and loss expenses
	ceded to reinsurers		61,806		30,158
	Commissions from reinsurers		15,095		10,523

Reportable_Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2013
Reportable Segments [Abstract]	'
Reportable Segments	'
	(4) Reportable Segments:
	The Company has two reportable business segments in its operations:  Property and Casualty Insurance and Reinsurance.
	The Property and Casualty Insurance segment provides multiple line insurance coverage primarily to fleet transportation companies as well as to independent contractors who contract with fleet transportation companies.  In addition, the Company provides private passenger automobile products to individuals, workers’ compensation coverage to small businesses and professional liability products on a selective basis.
	The Reinsurance segment accepts property cessions from other insurance companies as well as retrocessions from carefully chosen reinsurance companies, principally reinsuring against catastrophes.  In addition, the Reinsurance segment accepts professional liability cessions from other insurance companies.
	The following table provides certain revenue and profit and loss information for each reportable segment.  All amounts presented are computed based upon U.S. generally accepted accounting principles.  Segment profit for Property and Casualty Insurance includes the direct marketing agency operations conducted by the parent company for this segment and is computed after elimination of inter-company commissions.
		2013									2012
		Direct and Assumed Premium Written			Net Premium Earned			Segment Profit			Direct and Assumed Premium Written			Net Premium Earned		Segment Profit
	Three months ended September 30:
	Property and Casualty Insurance	$	82,272		$	52,036		$	9,712		$	68,072		$	42,972	$	5,089
	Reinsurance		14,278			12,412			1,846			13,165			11,881		5,539
	Totals	$	96,550		$	64,448		$	11,558		$	81,237		$	54,853	$	10,628
	Nine months ended September 30:
	Property and Casualty Insurance	$	233,217		$	149,699		$	20,353		$	208,058		$	139,048	$	18,871
	Reinsurance		40,054			37,622			9,525			42,085			37,011		17,013
	Totals	$	273,271		$	187,321		$	29,878		$	250,143		$	176,059	$	35,884
	The following table reconciles reportable segment income to the Company’s consolidated income before federal income taxes.
		Three Months Ended						Nine Months Ended
		30-Sep						30-Sep
		2013			2012			2013			2012
	Profit:
	Segment profit	$	11,558		$	10,628		$	29,878		$	35,884
	Net investment income		2,192			2,343			6,587			7,196
	Net gains on investments		1,430			8,781			16,496			8,709
	Corporate expenses and other		(3,488	)		(4,198	)		(11,328	)		(11,977	)
	Income before federal income taxes	$	11,692		$	17,554		$	41,633		$	39,812
	Segment profit includes both net premiums earned and fees and other income associated with the business conducted by the segment.
	Management does not identify or allocate assets to reportable segments when evaluating segment performance and depreciation expense is not material for any of the reportable segments.

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt [Abstract]	'
Debt	'
	(5) Debt:
	The Company maintains a revolving line of credit with a $30,000 limit and an expiration date of September 23, 2014.  Interest on this line of credit is referenced to LIBOR and can be fixed for periods of up to one year at the Company’s option.  Outstanding drawings on this line of credit were $10,000 as of September 30, 2013 and December 31, 2012.  At September 30, 2013, the effective interest rate was 1.08%.  The Company has $20,000 remaining unused under the line of credit at September 30, 2013.

Taxes

Taxes	9 Months Ended
	Sep. 30, 2013
Taxes [Abstract]	'
Taxes	'
	(6) Taxes:
	As of September 30, 2013, the Company’s 2009 and subsequent tax years remain subject to examination by the IRS.  The effective rate differs from the normal statutory rate primarily as a result of tax-exempt investment income.

Fair_Value

Fair Value	9 Months Ended
	Sep. 30, 2013
Fair Value [Abstract]	'
Fair Value	'
	(7) Fair Value:
	Assets and liabilities recorded at fair value in the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The following tables summarize fair value measurements by level for assets measured at fair value on a recurring basis:
	As of September 30, 2013:
	Description	Total			Level 1			Level 2		Level 3
	U.S. government obligations	$	106,136		$	106,136		$	-	$	-
	Residential mortgage-backed securities		14,654			-			14,654		-
	Commercial mortgage-backed securities		27,014			-			27,014		-
	State and municipal obligations		111,419			-			111,419		-
	Corporate securities		133,107			-			125,745		7,362
	Options embedded in convertible securities		2,248			-			2,248		-
	Foreign government obligations		25,176			-			25,176		-
	Total fixed maturities		419,754			106,136			306,256		7,362
	Equity securities		129,446			129,446			-		-
	Short term		4,419			4,419			-		-
	Cash equivalents		95,058			-			95,058		-
		$	648,677		$	240,001		$	401,314	$	7,362
	As of December 31, 2012:
	Description	Total			Level 1			Level 2		Level 3
	U.S. government obligations	$	70,742		$	70,742		$	-	$	-
	Residential mortgage-backed securities		25,040			-			25,040		-
	Commercial mortgage-backed securities		11,828			-			11,828		-
	State and municipal obligations		194,865			-			194,865		-
	Corporate securities		118,945			-			107,263		11,682
	Options embedded in convertible securities		1,651			-			1,651		-
	Foreign government obligations		22,598			-			22,598		-
	Total fixed maturities		445,669			70,742			363,245		11,682
	Equity securities		107,582			107,582			-		-
	Short term		4,201			4,201			-		-
	Cash equivalents		64,450			-			64,450		-
		$	621,902		$	182,525		$	427,695	$	11,682
	Level inputs, as defined by FASB Fair Value Measurements, are as follows:
	Level Input:	Input Definition:
	Level 1	Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.
	Level 2	Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with market data at the measurement date.
	Level 3	Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.
	The following methods, assumptions and inputs were used to determine the fair value of each class of the following assets recorded at fair value in the consolidated balance sheets:
	Cash equivalents:  Cash equivalents primarily consist of highly rated money market funds purchased at par value with specified yield rates. Due to underlying assets of these funds, we designate all cash equivalents as Level 2.
	Fixed maturities: Fair values of fixed maturities are based on quoted market prices, where available. These fair values are obtained primarily from third party pricing services, which generally use Level 1 or Level 2 inputs for the determination of fair value to facilitate fair value measurements and disclosures. U.S. government obligations represent Level 1 securities, while Level 2 securities primarily include corporate securities, states and municipal obligations, foreign government obligations, and mortgage-backed securities. For securities not actively traded, the third party pricing services may use quoted market prices of comparable instruments or discounted cash flow analyses, incorporating inputs that are currently observable in the markets for similar securities. Inputs that are often used in the valuation methodologies include, but are not limited to, broker quotes, benchmark yields, credit spreads, default rates and prepayment speeds.
	Equity securities: Fair values of equity securities are designated as Level 1 and are based on quoted market prices.
	The Level 3 assets consist of an investment portfolio of insurance-linked securities.  The insurance-linked securities are valued using the average of estimated market quotes from multiple insurance-linked securities brokers.  The broker quotes include Level 3 inputs which are significant to the valuation of the insurance-linked securities and typically vary by 0-3% from each other.  There were no Level 3 sales, no transfers into Level 3 and no transfers out of Level 3 during 2013 or 2012.  A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows for the nine months ended September 30, 2013 and for the year ended December 31, 2012:
		2013			2012
	Beginning of period balance	$	11,682		$	17,050
	Net realized and unrealized gain included in
	earnings or changes in net assets		969			1,653
	Purchases		-			400
	Settlements		(5,289	)		(7,421	)
	End of period balance	$	7,362		$	11,682
	There were no transfers of assets between Level 1 and Level 2 during the nine months ended September 30, 2013 and 2012.  Transfers between levels, if any, are recorded as of the beginning of the reporting period.
	In addition to the preceding disclosures on assets recorded at fair value in the consolidated balance sheets, FASB guidance also requires the disclosure of fair values for certain other financial instruments for which it is practicable to estimate fair value, whether or not such values are recognized in the consolidated balance sheets.
	Non-financial instruments such as real estate, property and equipment, other assets, deferred income taxes and intangible assets, and certain financial instruments such as reserves for losses and loss expenses are excluded from the fair value disclosures.  Therefore, the fair value amounts cannot be aggregated to determine the Company’s underlying economic value.
	The carrying amounts reported in the consolidated balance sheets for cash, accounts receivables, reinsurance recoverable, notes receivable, accounts payable and accrued expenses, income taxes receivable or payable and unearned premiums approximate fair value because of the short term nature of these items.  These assets and liabilities are not included in the table below.
	The following methods, assumptions and inputs were used to estimate the fair value of each class of financial instrument:
	Limited partnerships: The Company accounts for investments in limited partnerships using the equity method of accounting, which requires an investor in a limited partnership to carry the investment at its proportionate share of the limited partnership’s equity.   The underlying assets of the Company’s investments in limited partnerships are typically carried at fair value, and, therefore, the Company’s carrying value of limited partnerships approximates fair value.  As these investments are not actively traded and the corresponding inputs are based on data provided by the investees, they are classified as Level 3.
	Short-term borrowings: The fair value of our short-term borrowings is based on quoted market prices for the same or similar debt, or, if no quoted market prices are available, on the current market interest rates available to us for debt of similar terms and remaining maturities.
	A summary of the carrying value and fair value by level of financial instruments not recorded at fair value on the Company’s consolidated balance sheets at September 30, 2013 and December 31, 2012 are as follows:
		Carrying			Fair Value
		Value			Level 1			Level 2		Level 3		Total
	30-Sep-13
	Assets:   Limited partnerships	$	59,722		$	-		$	-	$	59,722	$	59,722
	Liabilities:   Short-term borrowings		10,000			-			10,000		-		10,000
	31-Dec-12
	Assets:   Limited partnerships		59,954			-			-		59,954		59,954
	Liabilities:   Short-term borrowings		10,000			-			10,000		-		10,000

Restricted_Stock

Restricted Stock	9 Months Ended
	Sep. 30, 2013
Restricted Stock [Abstract]	'
Restricted Stock	'
	(8) Restricted Stock:
	The Company grants shares of class B restricted stock to the Company’s outside directors, in lieu of cash, as their annual retainer compensation.  The shares are distributed on the vesting date, one year following the date of grant, and have had a total value of $440 for each of the annual periods presented.  The table below provides detail of the stock issuances for 2012 and 2013:
	Effective	Number of Shares		Vesting	Service	Value
	Date	Issued		Date	Period	Per Share
	5/8/12		20,119	5/8/13	7/1/2012 - 6/30/2013	$	21.87
	5/7/13		18,106	5/7/14	7/1/2013 - 6/30/2014	$	24.3
	Compensation expense related to the above stock grant is recognized over the period in which the directors render the services.
	Effective February 4, 2013, the Company issued 52,389 shares of class B restricted stock to certain of the Company’s executives as a portion of compensation to certain executives under the Company’s 2012 Executive Incentive Bonus Plan.  The restricted shares will vest ratably over a three year period from the date of grant with acceleration for retirement eligible recipients due to the non-substantive post-grant date vesting clause per Accounting Standards Codification 715, Compensation-Retirement Benefits.  Restricted stock was valued based on the closing price of the stock on the day the award was granted.  Each share was valued at $23.69 per share representing a total value of $1,241.  Non-vested restricted shares will be forfeited should an executive’s employment terminate for any reason other than death, disability, or retirement as defined by the 2012 Executive Incentive Bonus Plan.

Litigation_Commitments_and_Con

Litigation, Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Litigation, Commitments and Contingencies [Abstract]	'
Litigation, Commitments and Contingencies	'
	(9) Litigation, Commitments and Contingencies:
	In the ordinary, regular and routine course of their business, the Company and its insurance Subsidiaries are frequently involved in various matters of litigation relating principally to claims for insurance coverage provided.  No currently pending matter is deemed by management to be material to the Company.
	In February, 2013, the Company purchased a building in Carmel, Indiana to serve as its future home office.  No external funds were utilized for this purchase.  Rather, short-term investments were and will be liquidated to provide for the purchase and necessary renovations which are expected to be completed in late 2013.  A total of $25 million is expected to be capitalized for the acquisition of the home office building.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2013
Accumulated Other Comprehensive Income [Abstract]	'
Accumulated Other Comprehensive Income	'
	(10) Accumulated Other Comprehensive Income:
	The following table illustrates changes in accumulated other comprehensive income by component for the nine months ending September 30, 2013:
					Unrealized
					holding gains on
		Foreign			available-for-sale
		Currency			securities			Total
	Beginning balance	$	1,976		$	35,467		$	37,443
	Other comprehensive income
	before reclassifications		(282	)		13,699			13,417
	Amounts reclassified from
	accumulated other
	comprehensive income		-			(9,275	)		(9,275	)
	Net current-period other
	comprehensive income		(282	)		4,424			4,142
	Ending balance	$	1,694		$	39,891		$	41,585

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	(11) Subsequent Events:
	We have evaluated subsequent events for recognition or disclosure in the consolidated financial statements filed on Form 10-Q with the SEC and no events have occurred during the period which require recognition or disclosure.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included.  Operating results for the interim periods are not necessarily indicative of the results that may be expected for the year ended December 31, 2013.  Interim financial statements should be read in conjunction with the Company’s annual audited financial statements and other disclosures included in the Company’s most recent Form 10-K.
Investments	'
	Investments:  Carrying amounts for fixed maturity securities represent fair value and are based on quoted market prices, where available, or broker/dealer quotes for specific securities where quoted market prices are not available.  Equity securities are carried at quoted market prices (fair value).  The Company accounts for investments in limited partnerships using the equity method of accounting, which requires an investor in a limited partnership to record its proportionate share of the limited partnership’s net income.  To the extent that the limited partnership investees include both realized and unrealized investment gains or losses in the determination of net income or loss, then the Company would also recognize, through its consolidated statements of operations, its proportionate share of the investee’s unrealized as well as realized investment gains or losses.
	Other investments, if any, are carried at either fair value or cost, depending on the nature of the investment.  Short-term investments are carried at cost which approximates their fair values.
	Realized gains and losses on disposals of investments are determined by specific identification of the cost of investments sold and are included in income.  All fixed maturity and equity securities are considered to be available for sale; the related unrealized net gains or losses (net of applicable tax effect) are reflected directly in shareholders’ equity.  Included within available for sale fixed maturity securities are insurance-linked securities and convertible debt securities.  The changes in fair values of insurance-linked securities and portions of the changes in fair values of convertible debt securities are reflected as a component of net realized gains (losses).
	With respect to other–than-temporary impairment of investments, if a fixed maturity security is in an unrealized loss position and the Company has the intent to sell the fixed maturity security, or it is more likely than not that the Company will have to sell the fixed maturity security before recovery of its amortized cost basis, the decline in value is deemed to be other-than-temporary and is recorded to net realized losses on investments in the consolidated statements of operations.   For impaired fixed maturity securities that the Company does not intend to sell or it is more likely than not that the Company will not have to sell such securities, but the Company expects that it will not fully recover the amortized cost basis, the credit component of the other-than-temporary impairment is recognized in net realized losses on investments in the consolidated statements of operations and the non-credit component of the other-than-temporary impairment is recognized directly in shareholders’ equity (accumulated other comprehensive income).
	The credit component of an other-than-temporary impairment is determined by comparing the net present value of projected future cash flows with the amortized cost basis of the fixed maturity security.  Furthermore, unrealized losses caused by non-credit related factors related to fixed maturity securities for which the Company expects to fully recover the amortized cost basis continue to be recognized in accumulated other comprehensive income.
	The unrealized net gains or losses (net of applicable tax effect) related to equity securities are reflected directly in shareholders’ equity, unless a decline in value is determined to be other-than-temporary, in which case the loss is charged to income.  In determining if and when a decline in market value below cost is other-than-temporary, an objective analysis is made of each individual security where current market value is less than cost.  For any equity security where the unrealized loss exceeds 20% of original or adjusted cost, and where that decline has existed for a period of at least six months, the decline is treated as an other-than-temporary impairment, subject to an evaluation as to possible future recovery.  Additionally, the Company takes into account any known subjective information in evaluating for impairment without consideration to the Company’s quantitative criteria defined above.

Investments_Tables

Investments (Tables)	9 Months Ended
	Sep. 30, 2013
Investments [Abstract]	'
Summary of available for sale securities	'
	The following is a summary of available-for-sale securities at September 30, 2013 and December 31, 2012:
														Net
					Cost or			Gross			Gross			Unrealized
		Fair			Amortized			Unrealized			Unrealized			Gains
		Value			Cost			Gains			Losses			(Losses)
	30-Sep-13
	Fixed maturities
	U.S. government obligations	$	106,136		$	106,045		$	104		$	(13	)	$	91
	Residential mortgage-backed securities		14,654			13,534			1,291			(171	)		1,120
	Commercial mortgage-backed securities		27,014			27,077			214			(277	)		(63	)
	States and municipal obligations		111,419			111,321			481			(383	)		98
	Corporate securities		135,355			134,778			2,788			(2,211	)		577
	Foreign government obligations		25,176			24,946			479			(249	)		230
	Total fixed maturities		419,754			417,701			5,357			(3,304	)		2,053
	Equity securities:
	Financial institutions		16,085			7,274			9,015			(204	)		8,811
	Industrial & miscellaneous		113,361			62,853			51,811			(1,303	)		50,508
	Total equity securities		129,446			70,127			60,826			(1,507	)		59,319
	Total	$	549,200		$	487,828		$	66,183		$	(4,811	)		61,372
											Applicable federal income taxes				(21,481	)
											Net unrealized gains - net of tax			$	39,891
	31-Dec-12
	Fixed maturities
	U.S. government obligations	$	70,742		$	70,720		$	43		$	(21	)	$	22
	Residential mortgage-backed securities		25,040			23,954			1,218			(132	)		1,086
	Commercial mortgage-backed securities		11,828			11,006			849			(27	)		822
	State and municipal obligations		194,865			194,258			757			(150	)		607
	Corporate securities		120,596			118,574			2,923			(901	)		2,022
	Foreign government obligations		22,598			22,047			602			(51	)		551
	Total fixed maturities		445,669			440,559			6,392			(1,282	)		5,110
	Equity securities:
	Financial institutions		12,394			5,925			6,542			(73	)		6,469
	Industrial & miscellaneous		95,188			52,202			44,568			(1,582	)		42,986
	Total equity securities		107,582			58,127			51,110			(1,655	)		49,455
	Total	$	553,251		$	498,686		$	57,502		$	(2,937	)		54,565
											Applicable federal income taxes				(19,098	)
											Net unrealized gains - net of tax			$	35,467
Fixed maturity and equity security investments in unrealized loss position	'
	The following table summarizes, for fixed maturity and equity security investments in an unrealized loss position at September 30, 2013 and December 31, 2012, respectively, the aggregate fair value and gross unrealized loss categorized by the duration those securities have been continuously in an unrealized loss position.
		30-Sep-13									31-Dec-12
		Number of Securities			Fair Value			Gross Unrealized Loss			Number of Securities			Fair Value			Gross Unrealized Loss
	Fixed maturity securities:
	12 months or less		508		$	109,803		$	(2,573	)		170		$	90,607		$	(483	)
	Greater than 12 months		43			15,170			(731	)		58			19,283			(799	)
	Total fixed maturities		551			124,973			(3,304	)		228			109,890			(1,282	)
	Equity securities:
	12 months or less		21			8,355			(1,341	)		20			6,955			(842	)
	Greater than 12 months		4			2,773			(166	)		11			6,640			(813	)
	Total equity securities		25			11,128			(1,507	)		31			13,595			(1,655	)
	Total fixed maturity and equity securities		576		$	136,101		$	(4,811	)		259		$	123,485		$	(2,937	)
Fair value and cost or amortized cost of fixed maturity investments by contractual maturity	'
	The fair value and the cost or amortized costs of fixed maturity investments at September 30, 2013, by contractual maturity, are shown below.  Actual maturities may ultimately differ from contractual maturities because borrowers have, in some cases, the right to call or prepay obligations with or without call or prepayment penalties. Pre-refunded municipal bonds are classified based on their pre-refunded call dates.
		Fair Value			Cost or Amortized Cost
	One year or less	$	66,609		$	66,049
	Excess of one year to five years		233,763			233,951
	Excess of five years to ten years		43,522			42,931
	Excess of ten years		6,086			5,829
	Contractual maturities		349,980			348,760
	Asset-backed securities		69,774			68,941
	Total	$	419,754		$	417,701
Realized gains (losses) on investments	'
	Following is a summary of the components of net realized gains on investments for the periods presented in the accompanying consolidated statements of operations.
		Three Months Ended						Nine Months Ended
		30-Sep						30-Sep
		2013			2012			2013			2012
	Fixed maturities:
	Gross gains	$	2,043		$	1,508		$	5,695		$	2,850
	Gross losses		(1,277	)		(801	)		(3,497	)		(2,952	)
	Net realized gains (losses)		766			707			2,198			(102	)
	Equity securities:
	Gross gains		1,233			2,132			13,838			2,807
	Gross losses		(358	)		(353	)		(1,767	)		(828	)
	Net realized gains		875			1,779			12,071			1,979
	Limited partnerships - net gain (loss)		(211	)		6,295			2,227			6,832
	Totals	$	1,430		$	8,781		$	16,496		$	8,709
Schedule of realized gains	'
	Net realized gains activity for investments, as shown in the previous table, are further detailed as follows:
		Three Months Ended						Nine Months Ended
		30-Sep						30-Sep
		2013			2012			2013			2012
	Realized net gains on the disposal of securities	$	1,090		$	1,659		$	11,888		$	1,454
	Mark-to-market adjustment		342			456			747			144
	Equity in gains (losses) of limited partnership
	investments - realized and unrealized		(211	)		6,295			2,227			6,832
	Impairment:
	Write-downs based upon objective criteria		(4	)		(411	)		(78	)		(756	)
	Recovery of prior write-downs
	upon sale or disposal		213			782			1,712			1,035
	Totals	$	1,430		$	8,781		$	16,496		$	8,709

Reinsurance_Tables

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2013
Reinsurance [Abstract]	'
Reinsurance	'
	The following table summarizes the Company’s transactions with reinsurers for the 2013 and 2012 comparative periods.
		2013		2012
	Quarter ended September 30:
	Premiums ceded to reinsurers	$	30,925	$	27,110
	Losses and loss expenses
	ceded to reinsurers		26,558		19,179
	Commissions from reinsurers		5,844		3,550
	Nine months ended September 30:
	Premiums ceded to reinsurers		87,335		76,329
	Losses and loss expenses
	ceded to reinsurers		61,806		30,158
	Commissions from reinsurers		15,095		10,523

Reportable_Segments_Tables

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2013
Reportable Segments [Abstract]	'
Schedule of Segment Reporting Information, by Segment	'
	The following table provides certain revenue and profit and loss information for each reportable segment.  All amounts presented are computed based upon U.S. generally accepted accounting principles.  Segment profit for Property and Casualty Insurance includes the direct marketing agency operations conducted by the parent company for this segment and is computed after elimination of inter-company commissions.
		2013									2012
		Direct and Assumed Premium Written			Net Premium Earned			Segment Profit			Direct and Assumed Premium Written			Net Premium Earned		Segment Profit
	Three months ended September 30:
	Property and Casualty Insurance	$	82,272		$	52,036		$	9,712		$	68,072		$	42,972	$	5,089
	Reinsurance		14,278			12,412			1,846			13,165			11,881		5,539
	Totals	$	96,550		$	64,448		$	11,558		$	81,237		$	54,853	$	10,628
	Nine months ended September 30:
	Property and Casualty Insurance	$	233,217		$	149,699		$	20,353		$	208,058		$	139,048	$	18,871
	Reinsurance		40,054			37,622			9,525			42,085			37,011		17,013
	Totals	$	273,271		$	187,321		$	29,878		$	250,143		$	176,059	$	35,884
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	'
	The following table reconciles reportable segment income to the Company’s consolidated income before federal income taxes.
		Three Months Ended						Nine Months Ended
		30-Sep						30-Sep
		2013			2012			2013			2012
	Profit:
	Segment profit	$	11,558		$	10,628		$	29,878		$	35,884
	Net investment income		2,192			2,343			6,587			7,196
	Net gains on investments		1,430			8,781			16,496			8,709
	Corporate expenses and other		(3,488	)		(4,198	)		(11,328	)		(11,977	)
	Income before federal income taxes	$	11,692		$	17,554		$	41,633		$	39,812

Fair_Value_Tables

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value [Abstract]	'
Fair value measurements by level for assets measured at fair value on a recurring basis	'
	The following tables summarize fair value measurements by level for assets measured at fair value on a recurring basis:
	As of September 30, 2013:
	Description	Total			Level 1			Level 2		Level 3
	U.S. government obligations	$	106,136		$	106,136		$	-	$	-
	Residential mortgage-backed securities		14,654			-			14,654		-
	Commercial mortgage-backed securities		27,014			-			27,014		-
	State and municipal obligations		111,419			-			111,419		-
	Corporate securities		133,107			-			125,745		7,362
	Options embedded in convertible securities		2,248			-			2,248		-
	Foreign government obligations		25,176			-			25,176		-
	Total fixed maturities		419,754			106,136			306,256		7,362
	Equity securities		129,446			129,446			-		-
	Short term		4,419			4,419			-		-
	Cash equivalents		95,058			-			95,058		-
		$	648,677		$	240,001		$	401,314	$	7,362
	As of December 31, 2012:
	Description	Total			Level 1			Level 2		Level 3
	U.S. government obligations	$	70,742		$	70,742		$	-	$	-
	Residential mortgage-backed securities		25,040			-			25,040		-
	Commercial mortgage-backed securities		11,828			-			11,828		-
	State and municipal obligations		194,865			-			194,865		-
	Corporate securities		118,945			-			107,263		11,682
	Options embedded in convertible securities		1,651			-			1,651		-
	Foreign government obligations		22,598			-			22,598		-
	Total fixed maturities		445,669			70,742			363,245		11,682
	Equity securities		107,582			107,582			-		-
	Short term		4,201			4,201			-		-
	Cash equivalents		64,450			-			64,450		-
		$	621,902		$	182,525		$	427,695	$	11,682
Reconciliation of beginning and ending balances of assets measured at fair value on a recurring basis using level 3 inputs	'
	A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows for the nine months ended September 30, 2013 and for the year ended December 31, 2012:
		2013			2012
	Beginning of period balance	$	11,682		$	17,050
	Net realized and unrealized gain included in
	earnings or changes in net assets		969			1,653
	Purchases		-			400
	Settlements		(5,289	)		(7,421	)
	End of period balance	$	7,362		$	11,682
Summary of the carrying value and fair value by level of financial instruments	'
	A summary of the carrying value and fair value by level of financial instruments not recorded at fair value on the Company’s consolidated balance sheets at September 30, 2013 and December 31, 2012 are as follows:
		Carrying			Fair Value
		Value			Level 1			Level 2		Level 3		Total
	30-Sep-13
	Assets:   Limited partnerships	$	59,722		$	-		$	-	$	59,722	$	59,722
	Liabilities:   Short-term borrowings		10,000			-			10,000		-		10,000
	31-Dec-12
	Assets:   Limited partnerships		59,954			-			-		59,954		59,954
	Liabilities:   Short-term borrowings		10,000			-			10,000		-		10,000

Restricted_Stock_Tables

Restricted Stock (Tables)	9 Months Ended
	Sep. 30, 2013
Restricted Stock [Abstract]	'
Summary of stock issuances	'
	The table below provides detail of the stock issuances for 2012 and 2013:
	Effective	Number of Shares		Vesting	Service	Value
	Date	Issued		Date	Period	Per Share
	5/8/12		20,119	5/8/13	7/1/2012 - 6/30/2013	$	21.87
	5/7/13		18,106	5/7/14	7/1/2013 - 6/30/2014	$	24.3

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2013
Accumulated Other Comprehensive Income [Abstract]	'
Changes in Accumulated Other Comprehensive Income by Component	'
	The following table illustrates changes in accumulated other comprehensive income by component for the nine months ending September 30, 2013:
					Unrealized
					holding gains on
		Foreign			available-for-sale
		Currency			securities			Total
	Beginning balance	$	1,976		$	35,467		$	37,443
	Other comprehensive income
	before reclassifications		(282	)		13,699			13,417
	Amounts reclassified from
	accumulated other
	comprehensive income		-			(9,275	)		(9,275	)
	Net current-period other
	comprehensive income		(282	)		4,424			4,142
	Ending balance	$	1,694		$	39,891		$	41,585

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2013
Summary of Significant Accounting Policies [Abstract]	'
Percentage of decline on cost of securities treated as other-than-temporary impairment (in hundredths)	20.00%
Period of decline on the cost of equity securities that will be considered other-than-temporary impairment	'6 months

Investments_Details

Investments (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
	Security		Security		Security
	Agreement		Agreement
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Applicable federal income taxes	($21,481)	'	'	'	($19,098)
Net unrealized gains - net of tax	39,891	'	'	'	35,467
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'	'	'
Number of Securities, total	576	'	576	'	259
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'	'	'
Fair value, total	136,101	'	136,101	'	123,485
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'	'	'
Gross unrealized loss, total	-4,811	'	-4,811	'	-2,937
Available-for-sale securities debt maturities fair value [Abstract]	'	'	'	'	'
One year or less, Fair Value	66,609	'	66,609	'	'
Excess of one year to five years, Fair Value	233,763	'	233,763	'	'
Excess of five years to ten years, Fair Value	43,522	'	43,522	'	'
Excess of ten years, Fair Value	6,086	'	6,086	'	'
Contractual maturities, Fair Value	349,980	'	349,980	'	'
Asset-backed securities, Fair Value	69,774	'	69,774	'	'
Total, Fair Value	419,754	'	419,754	'	'
Available-for-sale securities debt maturities amortized cost basis [Abstract]	'	'	'	'	'
One year or less, Amortized Cost Basis	66,049	'	66,049	'	'
Excess of one year to five years, Amortized Cost Basis	233,951	'	233,951	'	'
Excess of five years to ten years, Amortized Cost Basis	42,931	'	42,931	'	'
Excess of ten years, Amortized Cost Basis	5,829	'	5,829	'	'
Contractual maturities, Amortized Cost Basis	348,760	'	348,760	'	'
Asset-backed securities, Amortized Cost Basis	68,941	'	68,941	'	'
Total, Amortized cost basis	417,701	'	417,701	'	'
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'	'	'
Limited partnerships - net gain (loss)	-211	6,295	2,227	6,832	'
Totals	1,430	8,781	16,496	8,709	'
Available for sale securities gain loss activity [Abstract]	'	'	'	'	'
Realized net gains on the disposal of securities	1,090	1,659	11,888	1,454	'
Mark-to-market adjustment	342	456	747	144	'
Equity in gains (losses) of limited partnership investments - realized and unrealized	-211	6,295	2,227	6,832	'
Write-downs based upon objective criteria	-4	-411	-78	-756	'
Recovery of prior write-downs upon sale or disposal	213	782	1,712	1,035	'
Totals	1,430	8,781	16,496	8,709	'
Net unrealized gain (loss) on investments	548	'	795	'	'
Net unrealized gains in limited partnership	'	'	3,645	'	'
Undistributed earnings of limited partnership, net of taxes	20,814	'	20,814	'	'
Committed funds for bridge loans	8,500	'	8,500	'	'
Number of bridge loan agreements	2	'	2	'	'
U.S. government obligations [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	106,136	'	106,136	'	70,742
Cost or Amortized Cost	106,045	'	106,045	'	70,720
Gross Unrealized Gains	104	'	104	'	43
Gross Unrealized Losses	-13	'	-13	'	-21
Net Unrealized Gains (Losses)	91	'	91	'	22
Residential mortgage-backed securities [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	14,654	'	14,654	'	25,040
Cost or Amortized Cost	13,534	'	13,534	'	23,954
Gross Unrealized Gains	1,291	'	1,291	'	1,218
Gross Unrealized Losses	-171	'	-171	'	-132
Net Unrealized Gains (Losses)	1,120	'	1,120	'	1,086
Commercial mortgage-backed securities [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	27,014	'	27,014	'	11,828
Cost or Amortized Cost	27,077	'	27,077	'	11,006
Gross Unrealized Gains	214	'	214	'	849
Gross Unrealized Losses	-277	'	-277	'	-27
Net Unrealized Gains (Losses)	-63	'	-63	'	822
States and municipal obligations [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	111,419	'	111,419	'	194,865
Cost or Amortized Cost	111,321	'	111,321	'	194,258
Gross Unrealized Gains	481	'	481	'	757
Gross Unrealized Losses	-383	'	-383	'	-150
Net Unrealized Gains (Losses)	98	'	98	'	607
Corporate securities [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	135,355	'	135,355	'	120,596
Cost or Amortized Cost	134,778	'	134,778	'	118,574
Gross Unrealized Gains	2,788	'	2,788	'	2,923
Gross Unrealized Losses	-2,211	'	-2,211	'	-901
Net Unrealized Gains (Losses)	577	'	577	'	2,022
Foreign government obligations [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	25,176	'	25,176	'	22,598
Cost or Amortized Cost	24,946	'	24,946	'	22,047
Gross Unrealized Gains	479	'	479	'	602
Gross Unrealized Losses	-249	'	-249	'	-51
Net Unrealized Gains (Losses)	230	'	230	'	551
Total fixed maturities [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	419,754	'	419,754	'	445,669
Cost or Amortized Cost	417,701	'	417,701	'	440,559
Gross Unrealized Gains	5,357	'	5,357	'	6,392
Gross Unrealized Losses	-3,304	'	-3,304	'	-1,282
Net Unrealized Gains (Losses)	2,053	'	2,053	'	5,110
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'	'	'
Number of Securities Less than 12 months	508	'	508	'	170
Number of Securities More than 12 months	43	'	43	'	58
Number of Securities, total	551	'	551	'	228
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'	'	'
Fair value, 12 months or less	109,803	'	109,803	'	90,607
Fair value, 12 months or longer	15,170	'	15,170	'	19,283
Fair value, total	124,973	'	124,973	'	109,890
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'	'	'
Gross unrealized loss, less than 12 months	-2,573	'	-2,573	'	-483
Gross unrealized loss, 12 months or longer	-731	'	-731	'	-799
Gross unrealized loss, total	-3,304	'	-3,304	'	-1,282
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'	'	'
Gross gains	2,043	1,508	5,695	2,850	'
Gross losses	-1,277	-801	-3,497	-2,952	'
Net realized gains (losses)	766	707	2,198	-102	'
Financial institutions [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	16,085	'	16,085	'	12,394
Cost or Amortized Cost	7,274	'	7,274	'	5,925
Gross Unrealized Gains	9,015	'	9,015	'	6,542
Gross Unrealized Losses	-204	'	-204	'	-73
Net Unrealized Gains (Losses)	8,811	'	8,811	'	6,469
Industrial & Miscellaneous [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	113,361	'	113,361	'	95,188
Cost or Amortized Cost	62,853	'	62,853	'	52,202
Gross Unrealized Gains	51,811	'	51,811	'	44,568
Gross Unrealized Losses	-1,303	'	-1,303	'	-1,582
Net Unrealized Gains (Losses)	50,508	'	50,508	'	42,986
Total equity securities [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	129,446	'	129,446	'	107,582
Cost or Amortized Cost	70,127	'	70,127	'	58,127
Gross Unrealized Gains	60,826	'	60,826	'	51,110
Gross Unrealized Losses	-1,507	'	-1,507	'	-1,655
Net Unrealized Gains (Losses)	59,319	'	59,319	'	49,455
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'	'	'
Number of Securities Less than 12 months	21	'	21	'	20
Number of Securities More than 12 months	4	'	4	'	11
Number of Securities, total	25	'	25	'	31
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'	'	'
Fair value, 12 months or less	8,355	'	8,355	'	6,955
Fair value, 12 months or longer	2,773	'	2,773	'	6,640
Fair value, total	11,128	'	11,128	'	13,595
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'	'	'
Gross unrealized loss, less than 12 months	-1,341	'	-1,341	'	-842
Gross unrealized loss, 12 months or longer	-166	'	-166	'	-813
Gross unrealized loss, total	-1,507	'	-1,507	'	-1,655
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'	'	'
Gross gains	1,233	2,132	13,838	2,807	'
Gross losses	-358	-353	-1,767	-828	'
Net realized gains (losses)	875	1,779	12,071	1,979	'
Total available-for-sale securities [Member]	'	'	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'	'	'
Fair Value	549,200	'	549,200	'	553,251
Cost or Amortized Cost	487,828	'	487,828	'	498,686
Gross Unrealized Gains	66,183	'	66,183	'	57,502
Gross Unrealized Losses	-4,811	'	-4,811	'	-2,937
Net Unrealized Gains (Losses)	$61,372	'	$61,372	'	$54,565

Reinsurance_Details

Reinsurance (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Reinsurance [Abstract]	'	'	'	'
Premiums ceded to reinsurers	$30,925	$27,110	$87,335	$76,329
Losses and loss expenses ceded to reinsurers	26,558	19,179	61,806	30,158
Commissions from reinsurers	$5,844	$3,550	$15,095	$10,523

Reportable_Segments_Details

Reportable Segments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
			Segment
Reportable Segments [Abstract]	'	'	'	'
Number of reportable segments	'	'	2	'
Segment Reporting Information [Line Items]	'	'	'	'
Direct and Assumed Premium Written	$96,550	$81,237	$273,271	$250,143
Net Premiums Earned	64,448	54,853	187,321	176,059
Segment Profit	11,558	10,628	29,878	35,884
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Segment profit	11,558	10,628	29,878	35,884
Net investment income	2,192	2,343	6,587	7,196
Net gains on investments	1,430	8,781	16,496	8,709
Corporate expenses	-3,488	-4,198	-11,328	-11,977
Income before federal income taxes	11,692	17,554	41,633	39,812
Property and Casualty Insurance [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Direct and Assumed Premium Written	82,272	68,072	233,217	208,058
Net Premiums Earned	52,036	42,972	149,699	139,048
Segment Profit	9,712	5,089	20,353	18,871
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Segment profit	9,712	5,089	20,353	18,871
Reinsurance [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Direct and Assumed Premium Written	14,278	13,165	40,054	42,085
Net Premiums Earned	12,412	11,881	37,622	37,011
Segment Profit	1,846	5,539	9,525	17,013
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Segment profit	$1,846	$5,539	$9,525	$17,013

Debt_Details

Debt (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Debt [Abstract]	'	'
Revolving line of credit limit	$30,000	'
Line of credit maturity date	23-Sep-14	'
Period of fixed interest on line of credit at company's options	'1 year	'
Outstanding drawings on line of credit	10,000	10,000
Effective interest rate (in hundredths)	1.08%	'
Remaining unused amount under line of credit	$20,000	'

Fair_Value_Details

Fair Value (Details) (Recurring [Member], USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. government obligations	$106,136	$70,742
Residential mortgage-backed securities	14,654	25,040
Commercial mortgage-backed securities	27,014	11,828
State and municipal obligations	111,419	194,865
Corporate securities	133,107	118,945
Options embedded in convertible securities	2,248	1,651
Foreign government obligations	25,176	22,598
Total fixed maturities	419,754	445,669
Equity securities	129,446	107,582
Short term	4,419	4,201
Cash equivalents	95,058	64,450
Total fair value	648,677	621,902
Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. government obligations	106,136	70,742
Residential mortgage-backed securities	0	0
Commercial mortgage-backed securities	0	0
State and municipal obligations	0	0
Corporate securities	0	0
Options embedded in convertible securities	0	0
Foreign government obligations	0	0
Total fixed maturities	106,136	70,742
Equity securities	129,446	107,582
Short term	4,419	4,201
Cash equivalents	0	0
Total fair value	240,001	182,525
Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. government obligations	0	0
Residential mortgage-backed securities	14,654	25,040
Commercial mortgage-backed securities	27,014	11,828
State and municipal obligations	111,419	194,865
Corporate securities	125,745	107,263
Options embedded in convertible securities	2,248	1,651
Foreign government obligations	25,176	22,598
Total fixed maturities	306,256	363,245
Equity securities	0	0
Short term	0	0
Cash equivalents	95,058	64,450
Total fair value	401,314	427,695
Level 3 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
U.S. government obligations	0	0
Residential mortgage-backed securities	0	0
Commercial mortgage-backed securities	0	0
State and municipal obligations	0	0
Corporate securities	7,362	11,682
Options embedded in convertible securities	0	0
Foreign government obligations	0	0
Total fixed maturities	7,362	11,682
Equity securities	0	0
Short term	0	0
Cash equivalents	0	0
Total fair value	$7,362	$11,682

Fair_Value_Unobservable_Input_

Fair Value, Unobservable Input Reconciliation (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Fair value assets measured on recurring basis unobservable input reconciliation calculation [Roll Forward]	'	'
Beginning of period balance	$11,682	$17,050
Net realized and unrealized gain included in earnings or changes in net assets	969	1,653
Purchases	0	400
Settlements	-5,289	-7,421
End of period balance	7,362	11,682
Insurance Linked Securities [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Sales	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	$0	$0
Insurance Linked Securities [Member] | Minimum [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Percentage of variance in values of securities (in hundredths)	0.00%	'
Insurance Linked Securities [Member] | Maximum [Member]	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'	'
Percentage of variance in values of securities (in hundredths)	3.00%	'

Fair_Value_Balance_Sheet_Group

Fair Value, Balance Sheet Grouping (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Carrying Value [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	$59,722	$59,954
Liabilities [Abstract]	'	'
Short-term borrowings	10,000	10,000
Fair Value [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	59,722	59,954
Liabilities [Abstract]	'	'
Short-term borrowings	10,000	10,000
Fair Value [Member] | Level 1 [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	0	0
Liabilities [Abstract]	'	'
Short-term borrowings	0	0
Fair Value [Member] | Level 2 [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	0	0
Liabilities [Abstract]	'	'
Short-term borrowings	10,000	10,000
Fair Value [Member] | Level 3 [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	59,722	59,954
Liabilities [Abstract]	'	'
Short-term borrowings	$0	$0

Restricted_Stock_Details

Restricted Stock (Details) (USD $)	1 Months Ended		9 Months Ended			12 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	31-May-13	31-May-12	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Feb. 04, 2013
				Restricted Stock Units (RSUs) [Member]	Restricted Stock Units (RSUs) [Member]	Restricted Stock Units (RSUs) [Member]	Restricted Stock Units (RSUs) [Member]
					Class B [Member]	Class B [Member]	Class B [Member]
					Outside Director [Member]	Outside Director [Member]	Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'
Shares distribution period from grant date	'	'	'1 year	'	'	'	'
Total value of shares issued	'	'	'	'	$440	$440	$1,241
Shares issued (in shares)	'	'	'	'	'	'	52,389
Value of each share issued (in dollars per share)	$24.30	$21.87	'	'	'	'	$23.69
Summary of stock Issuances [Abstract]	'	'	'	'	'	'	'
Shares granted (in shares)	18,106	20,119	'	'	'	'	'
Vesting Date	7-May-14	8-May-13	'	'	'	'	'
Service Period	'7/1/2013 - 6/30/2014	'7/1/2012 - 6/30/2013	'	'	'	'	'
Period restricted stocks will vest ratably from date of grant	'	'	'	'3 years	'	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	Sep. 30, 2013
In Millions, unless otherwise specified
Litigation, Commitments and Contingencies [Abstract]	'
Capitalized acquisition costs	$25

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]	'	'	'	'
Total accumulated other comprehensive income, beginning balance	'	'	$37,443	'
Other comprehensive income before reclassifications	'	'	13,417	'
Amounts reclassified from accumulated other comprehensive income	'	'	-9,275	'
Other comprehensive income	6,053	4,849	4,142	8,230
Total accumulated other comprehensive income, ending balance	41,585	'	41,585	'
Foreign Currency [Member]	'	'	'	'
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]	'	'	'	'
Total accumulated other comprehensive income, beginning balance	'	'	1,976	'
Other comprehensive income before reclassifications	'	'	-282	'
Amounts reclassified from accumulated other comprehensive income	'	'	0	'
Other comprehensive income	'	'	-282	'
Total accumulated other comprehensive income, ending balance	1,694	'	1,694	'
Unrealized holding gains on available-for-sale securities [Member]	'	'	'	'
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]	'	'	'	'
Total accumulated other comprehensive income, beginning balance	'	'	35,467	'
Other comprehensive income before reclassifications	'	'	13,699	'
Amounts reclassified from accumulated other comprehensive income	'	'	-9,275	'
Other comprehensive income	'	'	4,424	'
Total accumulated other comprehensive income, ending balance	$39,891	'	$39,891	'