Protective Insurance (PTVCA) 10-Q 8 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	1-May-14	1-May-14
		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	12,354,396
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q1	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Mar-14	'	'

Unaudited_Consolidated_Balance

Unaudited Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments:	'	'
Fixed maturities	$434,042	$431,550
Equity securities	152,829	145,828
Limited partnerships	71,908	68,988
Short-term	5,095	4,891
Total Investments	663,874	651,257
Cash and cash equivalents	65,016	59,297
Accounts receivable	100,362	100,830
Reinsurance recoverable	199,783	195,568
Other assets	55,747	62,204
Current federal income taxes	823	3,114
Total Assets	1,085,605	1,072,270
Liabilities and shareholders' equity	'	'
Reserves for losses and loss expenses	480,425	474,470
Reserves for unearned premiums	35,479	36,693
Short-term borrowings	10,000	10,000
Accounts payable and accrued expenses	149,060	152,532
Deferred federal income taxes	20,430	16,851
Total Liabilities	695,394	690,546
Shareholders' equity:	'	'
Additional paid-in capital	51,789	50,594
Unrealized net gains on investments	54,272	49,089
Foreign exchange adjustment	900	1,401
Retained earnings	282,611	280,003
Shareholders' equity	390,211	381,724
Total liabilities and shareholders' equity	1,085,605	1,072,270
Class A voting [Member]	'	'
Shareholders' equity:	'	'
Common stock	112	112
Class B non-voting [Member]	'	'
Shareholders' equity:	'	'
Common stock	$527	$525

Unaudited_Consolidated_Balance1

Unaudited Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
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)	12,354,396	12,304,191

Unaudited_Consolidated_Stateme

Unaudited Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues	'	'
Net premiums earned	$63,842	$61,098
Net investment income	2,294	2,410
Commissions and other income	1,355	1,383
Net realized gains on investments, excluding impairment losses	4,175	14,353
Total other-than-temporary impairment losses on investments	-105	-6
Totals	4,070	14,347
Total revenue	71,561	79,238
Expenses	'	'
Losses and loss expenses incurred	39,289	34,533
Other operating expenses	22,833	22,026
Total expenses	62,122	56,559
Income before federal income taxes	9,439	22,679
Federal income taxes	3,078	7,736
Net income	$6,361	$14,943
Per share data:	'	'
Basic and diluted earnings (in dollars per share)	$0.42	$1
Dividends paid to shareholders (in dollars per share)	$0.25	$0.25
Reconciliation of shares outstanding:	'	'
Average shares outstanding - basic (in shares)	14,947	14,878
Dilutive effect of share equivalents (in shares)	28	33
Average shares outstanding - diluted (in shares)	14,975	14,911

Unaudited_Consolidated_Stateme1

Unaudited Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Unaudited Consolidated Statements of Comprehensive Income [Abstract]	'	'
Net income	$6,361	$14,943
Unrealized net gains on securities:	'	'
Unrealized net gains arising during the period	5,834	7,803
Less: reclassification adjustment for net gains included in net income	-651	-6,912
Change in unrealized gains (losses) on investments	5,183	891
Foreign currency translation adjustments	-501	-186
Other comprehensive income	4,682	705
Comprehensive income	$11,043	$15,648

Unaudited_Consolidated_Stateme2

Unaudited Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Unaudited Consolidated Statements of Cash Flows [Abstract]	'	'
Net cash provided by operating activities	$9,160	$12,304
Investing activities:	'	'
Purchases of available-for-sale investments	-104,263	-92,439
Proceeds from sales or maturities of available-for-sale investments	108,087	113,044
Net sales (purchases) of short-term investments	-203	461
Other investing activities	-2,808	-16,678
Net cash provided by investing activities	813	4,388
Financing activities:	'	'
Dividends paid to shareholders	-3,753	-3,777
Net cash used in financing activities	-3,753	-3,777
Effect of foreign exchange rates on cash and cash equivalents	-501	-186
Increase in cash and cash equivalents	5,719	12,729
Cash and cash equivalents at beginning of period	59,297	71,549
Cash and cash equivalents at end of period	$65,016	$84,278

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
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, 2014.  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	3 Months Ended
	Mar. 31, 2014
Investments [Abstract]	'
Investments	'
	(2) Investments:
	The following is a summary of available-for-sale securities at March 31, 2014 and December 31, 2013:
														Net
					Cost or			Gross			Gross			Unrealized
		Fair			Amortized			Unrealized			Unrealized			Gains
		Value			Cost			Gains			Losses			(Losses)
	31-Mar-14
	Fixed maturities
	U.S. government obligations	$	121,426		$	121,413		$	117		$	(104	)	$	13
	Residential mortgage-backed securities		16,741			15,302			1,520			(81	)		1,439
	Commercial mortgage-backed securities		25,561			25,217			479			(135	)		344
	States and municipal obligations		115,378			115,054			617			(293	)		324
	Corporate securities		127,715			126,937			3,255			(2,477	)		778
	Foreign government obligations		27,221			27,033			467			(279	)		188
	Total fixed maturities		434,042			430,956			6,455			(3,369	)		3,086
	Equity securities:
	Financial institutions		19,376			7,770			11,606			-			11,606
	Industrial & miscellaneous		133,453			64,649			69,026			(222	)		68,804
	Total equity securities		152,829			72,419			80,632			(222	)		80,410
	Total	$	586,871		$	503,375		$	87,087		$	(3,591	)		83,496
											Applicable federal income taxes				(29,224	)
											Net unrealized gains - net of tax			$	54,272
	31-Dec-13
	Fixed maturities
	U.S. government obligations	$	113,389		$	113,348		$	81		$	(40	)	$	41
	Residential mortgage-backed securities		13,252			12,058			1,334			(140	)		1,194
	Commercial mortgage-backed securities		28,565			28,406			308			(149	)		159
	State and municipal obligations		115,250			115,278			407			(435	)		(28	)
	Corporate securities		137,215			136,991			3,207			(2,983	)		224
	Foreign government obligations		23,879			23,689			588			(398	)		190
	Total fixed maturities		431,550			429,770			5,925			(4,145	)		1,780
	Equity securities:
	Financial institutions		18,850			7,780			11,171			(101	)		11,070
	Industrial & miscellaneous		126,978			64,307			63,009			(338	)		62,671
	Total equity securities		145,828			72,087			74,180			(439	)		73,741
	Total	$	577,378		$	501,857		$	80,105		$	(4,584	)		75,521
											Applicable federal income taxes				(26,432	)
											Net unrealized gains - net of tax			$	49,089
	The following table summarizes, for fixed maturity and equity security investments in an unrealized loss position at March 31, 2014 and December 31, 2013, respectively, the aggregate fair value and gross unrealized loss categorized by the duration those securities have been continuously in an unrealized loss position.
		31-Mar-14									31-Dec-13
		Number of Securities			Fair Value			Gross Unrealized Loss			Number of Securities			Fair Value			Gross Unrealized Loss
	Fixed maturity securities:
	12 months or less		369		$	114,779		$	(2,339	)		451		$	123,145		$	(3,105	)
	Greater than 12 months		69			16,018			(1,030	)		53			18,249			(1,040	)
	Total fixed maturities		438			130,797			(3,369	)		504			141,394			(4,145	)
	Equity securities:
	12 months or less		12			2,401			(221	)		10			1,682			(204	)
	Greater than 12 months		1			19			(1	)		2			1,980			(235	)
	Total equity securities		13			2,420			(222	)		12			3,662			(439	)
	Total fixed maturity and equity securities		451		$	133,217		$	(3,591	)		516		$	145,056		$	(4,584	)
	The fair value and the cost or amortized costs of fixed maturity investments at March 31, 2014, 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	$	98,307		$	98,690
	Excess of one year to five years		193,827			193,119
	Excess of five years to ten years		56,991			56,364
	Excess of ten years		7,891			7,232
	Contractual maturities		357,016			355,405
	Asset-backed securities		77,026			75,551
	Total	$	434,042		$	430,956
	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
		31-Mar
		2014			2013
Fixed maturities:
Gross gains	$	1,839		$	1,419
Gross losses		(1,226	)		(1,337	)
Net realized gains		613			82
Equity securities:
Gross gains		741			11,712
Gross losses		(352	)		(1,160	)
Net realized gains		389			10,552
Limited partnerships - net gain		3,068			3,713
Totals	$	4,070		$	14,347
Net realized gains activity for investments, as shown in the previous table, are further detailed as follows:
	Three Months Ended
	31-Mar
	2014			2013
Realized net gains on the disposal of securities	$	1,195		$	9,244
Mark-to-market adjustment		(200	)		210
Equity in gains of limited partnership
investments - realized and unrealized		3,068			3,713
Impairment:
Write-downs based upon objective criteria		(105	)		(6	)
Recovery of prior write-downs
upon sale or disposal		112			1,186
Totals	$	4,070		$	14,347
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 ending March 31, 2014 includes an estimated $3,859 of net unrealized gains reported to the Company as part of the underlying assets of the various limited partnerships.  The value of limited partnerships at March 31, 2014 includes approximately $11,322 of accumulated net unrealized gains reported to the Company as part of the underlying assets of the various limited partnerships. Shareholders’ equity at March 31, 2014 includes approximately $26,455, net of federal income taxes, of reported earnings which remain undistributed by limited partnerships.
As of March 31, 2014, the Company had committed funds totaling $20,000 related to three 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	3 Months Ended
	Mar. 31, 2014
Reinsurance [Abstract]	'
Reinsurance	'
	(3) Reinsurance:
	The following table summarizes the Company’s transactions with reinsurers for the 2014 and 2013 comparative periods.
		2014		2013
	Quarter ended March 31:
	Premiums ceded to reinsurers	$	32,126	$	27,012
	Losses and loss expenses
	ceded to reinsurers		18,457		22,134
	Commissions from reinsurers		5,680		4,037

Reportable_Segments

Reportable Segments	3 Months Ended
	Mar. 31, 2014
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 professional liability cessions from other insurance companies.  In addition, the Reinsurance segment accepts property cessions from other insurance companies as well as retrocessions from carefully chosen reinsurance companies, principally reinsuring against catastrophes.
	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.
		2014								2013
		Direct and Assumed Premium Written			Net Premium Earned			Segment Profit		Direct and Assumed Premium Written		Net Premium Earned		Segment Profit
	Three months ended March 31:
	Property and Casualty Insurance	$	82,924		$	51,459		$	5,342	$	70,189	$	47,860	$	5,234
	Reinsurance		11,830			12,383			1,888		13,702		13,238		4,770
	Totals	$	94,754		$	63,842		$	7,230	$	83,891	$	61,098	$	10,004
	The following table reconciles reportable segment income to the Company’s consolidated income before federal income taxes.
		Three Months Ended
		31-Mar
		2014			2013
	Profit:
	Segment profit	$	7,230		$	10,004
	Net investment income		2,294			2,410
	Net gains on investments		4,070			14,347
	Corporate expenses and other		(4,155	)		(4,082	)
	Income before federal income taxes	$	9,439		$	22,679
	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	3 Months Ended
	Mar. 31, 2014
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 March 31, 2014 and December 31, 2013.  At March 31, 2014, the effective interest rate was 1.55%.  The Company has $20,000 remaining unused under the line of credit at March 31, 2014.

Taxes

Taxes	3 Months Ended
	Mar. 31, 2014
Taxes [Abstract]	'
Taxes	'
	(6) Taxes:
	As of March 31, 2014, the Company’s calendar years 2010 through 2013 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	3 Months Ended
	Mar. 31, 2014
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 March 31, 2014:
	Description	Total		Level 1			Level 2		Level 3
	Fixed maturities:
	U.S. government obligations	$	121,426	$	121,426		$	-	$	-
	Residential mortgage-backed securities		16,741		-			16,741		-
	Commercial mortgage-backed securities		25,561		-			25,561		-
	State and municipal obligations		115,378		-			115,378		-
	Corporate securities		124,978		-			124,978		-
	Options embedded in convertible securities		2,737		-			2,737		-
	Foreign government obligations		27,221		-			27,221		-
	Total fixed maturities		434,042		121,426			312,616		-
	Equity securities:
	Financial institutions		19,376		19,376			-		-
	Industrial & miscellaneous		133,453		133,453			-		-
	Total equity securities		152,829		152,829			-		-
	Short term		5,095		5,095			-		-
	Cash equivalents		61,497		-			61,497		-
		$	653,463	$	279,350		$	374,113	$	-
	As of December 31, 2013:
	Description	Total		Level 1			Level 2		Level 3
	Fixed maturities:
	U.S. government obligations	$	113,389	$	113,389		$	-	$	-
	Residential mortgage-backed securities		13,252		-			13,252		-
	Commercial mortgage-backed securities		28,565		-			28,565		-
	State and municipal obligations		115,250		-			115,250		-
	Corporate securities		134,635		-			134,635		-
	Options embedded in convertible securities		2,580		-			2,580		-
	Foreign government obligations		23,879		-			23,879		-
	Total fixed maturities		431,550		113,389			318,161		-
	Equity securities:
	Financial institutions		18,850		18,850			-		-
	Industrial & miscellaneous		126,978		126,978			-		-
	Total equity securities		145,828		145,828			-
	Short term		4,891		4,891			-		-
	Cash equivalents		52,002		-			52,002		-
		$	634,271	$	264,108		$	370,163	$	-
	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.
	Insurance-linked securities:  During the fourth quarter of 2013, the Company determined that insurance-linked securities have adequate quoted market prices.  Therefore, the insurance-linked securities were transferred to Level 2.  They were previously classified as Level 3.
	Equity securities: Fair values of equity securities are designated as Level 1 and are based on quoted market prices.
	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 three months ended March 31, 2014 and for the year ended December 31, 2013:
		2014		2013
	Beginning of period balance	$	-	$	11,682
	Total  gains or losses (realized or unrealized)
	included in income		-		1,017
	Purchases		-		1,258
	Settlements		-		(6,698	)
	Transfers out of level 3				(7,259	)
	End of period balance	$	-	$	-
	Transfers between levels, if any, are recorded as of the beginning of the reporting period.  There were no significant transfers of assets between Level 1 and Level 2 during the three months ended March 31, 2014 and 2013.
	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 carried primarily 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 March 31, 2014 and December 31, 2013 are as follows:
	Carrying		Fair Value
	Value		Level 1			Level 2		Level 3		Total
31-Mar-14
Assets:   Limited partnerships	$	71,908	$	-		$	-	$	71,908	$	71,908
Liabilities:   Short-term borrowings		10,000		-			10,000		-		10,000
31-Dec-13
Assets:   Limited partnerships		68,988		-			-		68,988		68,988
Liabilities:   Short-term borrowings		10,000		-			10,000		-		10,000

Restricted_Stock

Restricted Stock	3 Months Ended
	Mar. 31, 2014
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 an aggregate total value of $440 for each of the annual periods presented.  The table below provides detail of the stock issuances for 2013 and 2014:
	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	$24.30
	Compensation expense related to the above stock grant is recognized over the period in which the directors render the services.
	Effective February 4, 2014, the Company issued 45,678 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 2013 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 $23.81 per share representing a total value of $1,088.  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 2013 Executive Incentive Bonus Plan.

Litigation_Commitments_and_Con

Litigation, Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
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.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2014
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 quarter ending March 31, 2014:
					Unrealized
					holding gains on
		Foreign			available-for-sale
		Currency			securities			Total
	Beginning balance	$	1,401		$	49,089		$	50,490
	Other comprehensive income
	before reclassifications		(501	)		5,834			5,333
	Amounts reclassified from
	accumulated other
	comprehensive income		-			(651	)		(651	)
	Net current-period other
	comprehensive income		(501	)		5,183			4,682
	Ending balance	$	900		$	54,272		$	55,172

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
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)	3 Months Ended
	Mar. 31, 2014
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, 2014.  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)	3 Months Ended
	Mar. 31, 2014
Investments [Abstract]	'
Summary of available for sale securities	'
	The following is a summary of available-for-sale securities at March 31, 2014 and December 31, 2013:
														Net
					Cost or			Gross			Gross			Unrealized
		Fair			Amortized			Unrealized			Unrealized			Gains
		Value			Cost			Gains			Losses			(Losses)
	31-Mar-14
	Fixed maturities
	U.S. government obligations	$	121,426		$	121,413		$	117		$	(104	)	$	13
	Residential mortgage-backed securities		16,741			15,302			1,520			(81	)		1,439
	Commercial mortgage-backed securities		25,561			25,217			479			(135	)		344
	States and municipal obligations		115,378			115,054			617			(293	)		324
	Corporate securities		127,715			126,937			3,255			(2,477	)		778
	Foreign government obligations		27,221			27,033			467			(279	)		188
	Total fixed maturities		434,042			430,956			6,455			(3,369	)		3,086
	Equity securities:
	Financial institutions		19,376			7,770			11,606			-			11,606
	Industrial & miscellaneous		133,453			64,649			69,026			(222	)		68,804
	Total equity securities		152,829			72,419			80,632			(222	)		80,410
	Total	$	586,871		$	503,375		$	87,087		$	(3,591	)		83,496
											Applicable federal income taxes				(29,224	)
											Net unrealized gains - net of tax			$	54,272
	31-Dec-13
	Fixed maturities
	U.S. government obligations	$	113,389		$	113,348		$	81		$	(40	)	$	41
	Residential mortgage-backed securities		13,252			12,058			1,334			(140	)		1,194
	Commercial mortgage-backed securities		28,565			28,406			308			(149	)		159
	State and municipal obligations		115,250			115,278			407			(435	)		(28	)
	Corporate securities		137,215			136,991			3,207			(2,983	)		224
	Foreign government obligations		23,879			23,689			588			(398	)		190
	Total fixed maturities		431,550			429,770			5,925			(4,145	)		1,780
	Equity securities:
	Financial institutions		18,850			7,780			11,171			(101	)		11,070
	Industrial & miscellaneous		126,978			64,307			63,009			(338	)		62,671
	Total equity securities		145,828			72,087			74,180			(439	)		73,741
	Total	$	577,378		$	501,857		$	80,105		$	(4,584	)		75,521
											Applicable federal income taxes				(26,432	)
											Net unrealized gains - net of tax			$	49,089
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 March 31, 2014 and December 31, 2013, respectively, the aggregate fair value and gross unrealized loss categorized by the duration those securities have been continuously in an unrealized loss position.
		31-Mar-14									31-Dec-13
		Number of Securities			Fair Value			Gross Unrealized Loss			Number of Securities			Fair Value			Gross Unrealized Loss
	Fixed maturity securities:
	12 months or less		369		$	114,779		$	(2,339	)		451		$	123,145		$	(3,105	)
	Greater than 12 months		69			16,018			(1,030	)		53			18,249			(1,040	)
	Total fixed maturities		438			130,797			(3,369	)		504			141,394			(4,145	)
	Equity securities:
	12 months or less		12			2,401			(221	)		10			1,682			(204	)
	Greater than 12 months		1			19			(1	)		2			1,980			(235	)
	Total equity securities		13			2,420			(222	)		12			3,662			(439	)
	Total fixed maturity and equity securities		451		$	133,217		$	(3,591	)		516		$	145,056		$	(4,584	)
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 March 31, 2014, 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	$	98,307		$	98,690
	Excess of one year to five years		193,827			193,119
	Excess of five years to ten years		56,991			56,364
	Excess of ten years		7,891			7,232
	Contractual maturities		357,016			355,405
	Asset-backed securities		77,026			75,551
	Total	$	434,042		$	430,956
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
		31-Mar
		2014			2013
	Fixed maturities:
	Gross gains	$	1,839		$	1,419
	Gross losses		(1,226	)		(1,337	)
	Net realized gains		613			82
	Equity securities:
	Gross gains		741			11,712
	Gross losses		(352	)		(1,160	)
	Net realized gains		389			10,552
	Limited partnerships - net gain		3,068			3,713
	Totals	$	4,070		$	14,347
Schedule of realized gains	'
	Net realized gains activity for investments, as shown in the previous table, are further detailed as follows:
		Three Months Ended
		31-Mar
		2014			2013
	Realized net gains on the disposal of securities	$	1,195		$	9,244
	Mark-to-market adjustment		(200	)		210
	Equity in gains of limited partnership
	investments - realized and unrealized		3,068			3,713
	Impairment:
	Write-downs based upon objective criteria		(105	)		(6	)
	Recovery of prior write-downs
	upon sale or disposal		112			1,186
	Totals	$	4,070		$	14,347

Reinsurance_Tables

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2014
Reinsurance [Abstract]	'
Reinsurance	'
	(3) Reinsurance:
	The following table summarizes the Company’s transactions with reinsurers for the 2014 and 2013 comparative periods.
		2014		2013
	Quarter ended March 31:
	Premiums ceded to reinsurers	$	32,126	$	27,012
	Losses and loss expenses
	ceded to reinsurers		18,457		22,134
	Commissions from reinsurers		5,680		4,037

Reportable_Segments_Tables

Reportable Segments (Tables)	3 Months Ended
	Mar. 31, 2014
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.
		2014								2013
		Direct and Assumed Premium Written			Net Premium Earned			Segment Profit		Direct and Assumed Premium Written		Net Premium Earned		Segment Profit
	Three months ended March 31:
	Property and Casualty Insurance	$	82,924		$	51,459		$	5,342	$	70,189	$	47,860	$	5,234
	Reinsurance		11,830			12,383			1,888		13,702		13,238		4,770
	Totals	$	94,754		$	63,842		$	7,230	$	83,891	$	61,098	$	10,004
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
		31-Mar
		2014			2013
	Profit:
	Segment profit	$	7,230		$	10,004
	Net investment income		2,294			2,410
	Net gains on investments		4,070			14,347
	Corporate expenses and other		(4,155	)		(4,082	)
	Income before federal income taxes	$	9,439		$	22,679

Fair_Value_Tables

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value [Abstract]	'
Fair value measurements by level for assets measured at fair value on a recurring basis	'
	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 March 31, 2014:
	Description	Total		Level 1			Level 2		Level 3
	Fixed maturities:
	U.S. government obligations	$	121,426	$	121,426		$	-	$	-
	Residential mortgage-backed securities		16,741		-			16,741		-
	Commercial mortgage-backed securities		25,561		-			25,561		-
	State and municipal obligations		115,378		-			115,378		-
	Corporate securities		124,978		-			124,978		-
	Options embedded in convertible securities		2,737		-			2,737		-
	Foreign government obligations		27,221		-			27,221		-
	Total fixed maturities		434,042		121,426			312,616		-
	Equity securities:
	Financial institutions		19,376		19,376			-		-
	Industrial & miscellaneous		133,453		133,453			-		-
	Total equity securities		152,829		152,829			-		-
	Short term		5,095		5,095			-		-
	Cash equivalents		61,497		-			61,497		-
		$	653,463	$	279,350		$	374,113	$	-
	As of December 31, 2013:
	Description	Total		Level 1			Level 2		Level 3
	Fixed maturities:
	U.S. government obligations	$	113,389	$	113,389		$	-	$	-
	Residential mortgage-backed securities		13,252		-			13,252		-
	Commercial mortgage-backed securities		28,565		-			28,565		-
	State and municipal obligations		115,250		-			115,250		-
	Corporate securities		134,635		-			134,635		-
	Options embedded in convertible securities		2,580		-			2,580		-
	Foreign government obligations		23,879		-			23,879		-
	Total fixed maturities		431,550		113,389			318,161		-
	Equity securities:
	Financial institutions		18,850		18,850			-		-
	Industrial & miscellaneous		126,978		126,978			-		-
	Total equity securities		145,828		145,828			-
	Short term		4,891		4,891			-		-
	Cash equivalents		52,002		-			52,002		-
		$	634,271	$	264,108		$	370,163	$	-
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 three months ended March 31, 2014 and for the year ended December 31, 2013:
		2014		2013
	Beginning of period balance	$	-	$	11,682
	Total  gains or losses (realized or unrealized)
	included in income		-		1,017
	Purchases		-		1,258
	Settlements		-		(6,698	)
	Transfers out of level 3				(7,259	)
	End of period balance	$	-	$	-
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 March 31, 2014 and December 31, 2013 are as follows:
		Carrying		Fair Value
		Value		Level 1			Level 2		Level 3		Total
	31-Mar-14
	Assets:   Limited partnerships	$	71,908	$	-		$	-	$	71,908	$	71,908
	Liabilities:   Short-term borrowings		10,000		-			10,000		-		10,000
	31-Dec-13
	Assets:   Limited partnerships		68,988		-			-		68,988		68,988
	Liabilities:   Short-term borrowings		10,000		-			10,000		-		10,000

Restricted_Stock_Tables

Restricted Stock (Tables)	3 Months Ended
	Mar. 31, 2014
Restricted Stock [Abstract]	'
Summary of stock issuances	'
	The table below provides detail of the stock issuances for 2013 and 2014:
	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	$24.30

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2014
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 quarter ending March 31, 2014:
					Unrealized
					holding gains on
		Foreign			available-for-sale
		Currency			securities			Total
	Beginning balance	$	1,401		$	49,089		$	50,490
	Other comprehensive income
	before reclassifications		(501	)		5,834			5,333
	Amounts reclassified from
	accumulated other
	comprehensive income		-			(651	)		(651	)
	Net current-period other
	comprehensive income		(501	)		5,183			4,682
	Ending balance	$	900		$	54,272		$	55,172

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2014
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		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Security		Security
	Agreement
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Applicable federal income taxes	($29,224)	'	($26,432)
Net unrealized gains - net of tax	54,272	'	49,089
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'
Number of Securities, total	451	'	516
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'
Fair value, total	133,217	'	145,056
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'
Gross unrealized loss, total	-3,591	'	-4,584
Available-for-sale securities debt maturities fair value [Abstract]	'	'	'
One year or less, Fair Value	98,307	'	'
Excess of one year to five years, Fair Value	193,827	'	'
Excess of five years to ten years, Fair Value	56,991	'	'
Excess of ten years, Fair Value	7,891	'	'
Contractual maturities, Fair Value	357,016	'	'
Asset-backed securities, Fair Value	77,026	'	'
Total, Fair Value	434,042	'	'
Available-for-sale securities debt maturities amortized cost basis [Abstract]	'	'	'
One year or less, Amortized Cost Basis	98,690	'	'
Excess of one year to five years, Amortized Cost Basis	193,119	'	'
Excess of five years to ten years, Amortized Cost Basis	56,364	'	'
Excess of ten years, Amortized Cost Basis	7,232	'	'
Contractual maturities, Amortized Cost Basis	355,405	'	'
Asset-backed securities, Amortized Cost Basis	75,551	'	'
Total, Amortized cost basis	430,956	'	'
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'
Limited partnerships - net gain	3,068	3,713	'
Totals	4,070	14,347	'
Available for sale securities gain loss activity [Abstract]	'	'	'
Realized net gains on the disposal of securities	1,195	9,244	'
Mark-to-market adjustment	-200	210	'
Equity in gains of limited partnership investments - realized and unrealized	3,068	3,713	'
Write-downs based upon objective criteria	-105	-6	'
Recovery of prior write-downs upon sale or disposal	112	1,186	'
Totals	4,070	14,347	'
Net unrealized gain (loss) on investments	3,859	'	'
Net unrealized gains in limited partnership	11,322	'	'
Undistributed earnings of limited partnership, net of taxes	26,455	'	'
Committed funds for bridge loans	20,000	'	'
Number of bridge loan agreements	3	'	'
U.S. government obligations [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	121,426	'	113,389
Cost or Amortized Cost	121,413	'	113,348
Gross Unrealized Gains	117	'	81
Gross Unrealized Losses	-104	'	-40
Net Unrealized Gains (Losses)	13	'	41
Residential mortgage-backed securities [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	16,741	'	13,252
Cost or Amortized Cost	15,302	'	12,058
Gross Unrealized Gains	1,520	'	1,334
Gross Unrealized Losses	-81	'	-140
Net Unrealized Gains (Losses)	1,439	'	1,194
Commercial mortgage-backed securities [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	25,561	'	28,565
Cost or Amortized Cost	25,217	'	28,406
Gross Unrealized Gains	479	'	308
Gross Unrealized Losses	-135	'	-149
Net Unrealized Gains (Losses)	344	'	159
States and municipal obligations [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	115,378	'	115,250
Cost or Amortized Cost	115,054	'	115,278
Gross Unrealized Gains	617	'	407
Gross Unrealized Losses	-293	'	-435
Net Unrealized Gains (Losses)	324	'	-28
Corporate securities [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	127,715	'	137,215
Cost or Amortized Cost	126,937	'	136,991
Gross Unrealized Gains	3,255	'	3,207
Gross Unrealized Losses	-2,477	'	-2,983
Net Unrealized Gains (Losses)	778	'	224
Foreign government obligations [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	27,221	'	23,879
Cost or Amortized Cost	27,033	'	23,689
Gross Unrealized Gains	467	'	588
Gross Unrealized Losses	-279	'	-398
Net Unrealized Gains (Losses)	188	'	190
Total fixed maturities [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	434,042	'	431,550
Cost or Amortized Cost	430,956	'	429,770
Gross Unrealized Gains	6,455	'	5,925
Gross Unrealized Losses	-3,369	'	-4,145
Net Unrealized Gains (Losses)	3,086	'	1,780
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'
Number of Securities Less than 12 months	369	'	451
Number of Securities More than 12 months	69	'	53
Number of Securities, total	438	'	504
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'
Fair value, 12 months or less	114,779	'	123,145
Fair value, 12 months or longer	16,018	'	18,249
Fair value, total	130,797	'	141,394
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'
Gross unrealized loss, less than 12 months	-2,339	'	-3,105
Gross unrealized loss, 12 months or longer	-1,030	'	-1,040
Gross unrealized loss, total	-3,369	'	-4,145
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'
Gross gains	1,839	1,419	'
Gross losses	-1,226	-1,337	'
Net realized gains	613	82	'
Financial institutions [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	19,376	'	18,850
Cost or Amortized Cost	7,770	'	7,780
Gross Unrealized Gains	11,606	'	11,171
Gross Unrealized Losses	0	'	-101
Net Unrealized Gains (Losses)	11,606	'	11,070
Industrial & Miscellaneous [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	133,453	'	126,978
Cost or Amortized Cost	64,649	'	64,307
Gross Unrealized Gains	69,026	'	63,009
Gross Unrealized Losses	-222	'	-338
Net Unrealized Gains (Losses)	68,804	'	62,671
Total equity securities [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	152,829	'	145,828
Cost or Amortized Cost	72,419	'	72,087
Gross Unrealized Gains	80,632	'	74,180
Gross Unrealized Losses	-222	'	-439
Net Unrealized Gains (Losses)	80,410	'	73,741
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'
Number of Securities Less than 12 months	12	'	10
Number of Securities More than 12 months	1	'	2
Number of Securities, total	13	'	12
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'
Fair value, 12 months or less	2,401	'	1,682
Fair value, 12 months or longer	19	'	1,980
Fair value, total	2,420	'	3,662
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'
Gross unrealized loss, less than 12 months	-221	'	-204
Gross unrealized loss, 12 months or longer	-1	'	-235
Gross unrealized loss, total	-222	'	-439
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'
Gross gains	741	11,712	'
Gross losses	-352	-1,160	'
Net realized gains	389	10,552	'
Total available-for-sale securities [Member]	'	'	'
Schedule of Available-For-Sale Securities [Line Items]	'	'	'
Fair Value	586,871	'	577,378
Cost or Amortized Cost	503,375	'	501,857
Gross Unrealized Gains	87,087	'	80,105
Gross Unrealized Losses	-3,591	'	-4,584
Net Unrealized Gains (Losses)	$83,496	'	$75,521

Reinsurance_Details

Reinsurance (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Reinsurance [Abstract]	'	'
Premiums ceded to reinsurers	$32,126	$27,012
Losses and loss expenses ceded to reinsurers	18,457	22,134
Commissions from reinsurers	$5,680	$4,037

Reportable_Segments_Details

Reportable Segments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	Segment
Reportable Segments [Abstract]	'	'
Number of reportable segments	2	'
Segment Reporting Information [Line Items]	'	'
Direct and Assumed Premium Written	$94,754	$83,891
Net Premiums Earned	63,842	61,098
Segment Profit	7,230	10,004
Reconciliation from segment totals to consolidated [Abstract]	'	'
Segment profit	7,230	10,004
Net investment income	2,294	2,410
Net gains on investments	4,070	14,347
Corporate expenses	-4,155	-4,082
Income before federal income taxes	9,439	22,679
Property and Casualty Insurance [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Direct and Assumed Premium Written	82,924	70,189
Net Premiums Earned	51,459	47,860
Segment Profit	5,342	5,234
Reconciliation from segment totals to consolidated [Abstract]	'	'
Segment profit	5,342	5,234
Reinsurance [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Direct and Assumed Premium Written	11,830	13,702
Net Premiums Earned	12,383	13,238
Segment Profit	1,888	4,770
Reconciliation from segment totals to consolidated [Abstract]	'	'
Segment profit	$1,888	$4,770

Debt_Details

Debt (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
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)	1.55%	'
Remaining unused amount under line of credit	$20,000	'

Fair_Value_Details

Fair Value (Details) (Recurring [Member], USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fixed maturities: [Abstract]	'	'
U.S. government obligations	$121,426	$113,389
Residential mortgage-backed securities	16,741	13,252
Commercial mortgage-backed securities	25,561	28,565
State and municipal obligations	115,378	115,250
Corporate securities	124,979	134,635
Options embedded in convertible securities	2,737	2,580
Foreign government obligations	27,220	23,879
Total fixed maturities	434,042	431,550
Equity Securities [Abstract]	'	'
Financial institutions	19,376	18,850
Industrial & miscellaneous	133,453	126,978
Total equity securities	152,829	145,828
Short term	5,095	4,891
Cash equivalents	61,497	52,002
Total fair value	653,463	634,271
Level 1 [Member]	'	'
Fixed maturities: [Abstract]	'	'
U.S. government obligations	121,426	113,389
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	121,426	113,389
Equity Securities [Abstract]	'	'
Financial institutions	19,376	18,850
Industrial & miscellaneous	133,453	126,978
Total equity securities	152,829	145,828
Short term	5,095	4,891
Cash equivalents	0	0
Total fair value	279,350	264,108
Level 2 [Member]	'	'
Fixed maturities: [Abstract]	'	'
U.S. government obligations	0	0
Residential mortgage-backed securities	16,741	13,252
Commercial mortgage-backed securities	25,561	28,565
State and municipal obligations	115,378	115,250
Corporate securities	124,979	134,635
Options embedded in convertible securities	2,737	2,580
Foreign government obligations	27,220	23,879
Total fixed maturities	312,616	318,161
Equity Securities [Abstract]	'	'
Financial institutions	0	0
Industrial & miscellaneous	0	0
Total equity securities	0	0
Short term	0	0
Cash equivalents	61,497	52,002
Total fair value	374,113	370,163
Level 3 [Member]	'	'
Fixed maturities: [Abstract]	'	'
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	0	0
Options embedded in convertible securities	0	0
Foreign government obligations	0	0
Total fixed maturities	0	0
Equity Securities [Abstract]	'	'
Financial institutions	0	0
Industrial & miscellaneous	0	0
Total equity securities	0	0
Short term	0	0
Cash equivalents	0	0
Total fair value	$0	$0

Fair_Value_Unobservable_Input_

Fair Value, Unobservable Input Reconciliation (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair value assets measured on recurring basis unobservable input reconciliation calculation [Roll Forward]	'	'
Beginning of period balance	$0	$11,682
Total gains or losses (realized or unrealized) included in income	0	1,017
Purchases	0	1,258
Settlements	0	-6,698
Transfers out of Level 3	0	-7,259
End of period balance	$0	$0

Fair_Value_Balance_Sheet_Group

Fair Value, Balance Sheet Grouping (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Carrying Value [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	$71,908	$68,988
Liabilities [Abstract]	'	'
Short-term borrowings	10,000	10,000
Fair Value [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	71,908	68,988
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	71,908	68,988
Liabilities [Abstract]	'	'
Short-term borrowings	$0	$0

Restricted_Stock_Details

Restricted Stock (Details) (USD $)	1 Months Ended		3 Months Ended			12 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	31-May-13	31-May-12	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Feb. 04, 2014
				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	$1,088
Shares issued (in shares)	'	'	'	'	'	'	45,678
Value of each share issued (in dollars per share)	$24.30	$21.87	'	'	'	'	$23.81
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	'	'	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]	'	'
Total accumulated other comprehensive income, beginning balance	$50,490	'
Other comprehensive income before reclassifications	5,333	'
Amounts reclassified from accumulated other comprehensive income	-651	'
Other comprehensive income	4,682	705
Total accumulated other comprehensive income, ending balance	55,172	'
Foreign Currency [Member]	'	'
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]	'	'
Total accumulated other comprehensive income, beginning balance	1,401	'
Other comprehensive income before reclassifications	-501	'
Amounts reclassified from accumulated other comprehensive income	0	'
Other comprehensive income	-501	'
Total accumulated other comprehensive income, ending balance	900	'
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	49,089	'
Other comprehensive income before reclassifications	5,834	'
Amounts reclassified from accumulated other comprehensive income	-651	'
Other comprehensive income	5,183	'
Total accumulated other comprehensive income, ending balance	$54,272	'