Protective Insurance (PTVCA) 10-Q 10 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 01, 2014	Nov. 01, 2014
		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	12,352,080
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q3	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Sep-14	'	'

Unaudited_Consolidated_Balance

Unaudited Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments:	'	'
Fixed maturities	$431,801	$431,550
Equity securities	160,270	145,828
Limited partnerships	79,583	68,988
Short-term	3,165	4,891
Total Investments	674,819	651,257
Cash and cash equivalents	79,576	59,297
Accounts receivable	97,651	100,830
Reinsurance recoverable	208,494	195,568
Other assets	62,614	62,204
Current federal income taxes	1,876	3,114
Total Assets	1,125,030	1,072,270
Liabilities and shareholders' equity	'	'
Reserves for losses and loss expenses	492,657	474,470
Reserves for unearned premiums	35,777	36,693
Short-term borrowings	20,000	10,000
Accounts payable and accrued expenses	157,473	152,532
Deferred federal income taxes	21,123	16,851
Total Liabilities	727,030	690,546
Shareholders' equity:	'	'
Additional paid-in capital	51,744	50,594
Unrealized net gains on investments	54,799	49,089
Foreign exchange adjustment	566	1,401
Retained earnings	290,252	280,003
Shareholders' equity	398,000	381,724
Total liabilities and shareholders' equity	1,125,030	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 $)	Sep. 30, 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)	12,352,080	12,304,191

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, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Net premiums earned	$65,947	$64,448	$192,694	$187,321
Net investment income	2,073	2,192	6,456	6,587
Commissions and other income	1,800	1,519	4,887	4,441
Net realized gains on investments, excluding impairment losses	1,099	1,434	13,363	16,572
Total other-than-temporary impairment losses on investments	-441	-4	-546	-78
Portion of other-than-temporary impairment losses recognized in other comprehensive income	0	0	0	2
Net realized gains on investments	658	1,430	12,817	16,496
Total revenue	70,478	69,589	216,854	214,845
Expenses	'	'	'	'
Losses and loss expenses incurred	38,693	36,967	118,264	109,843
Other operating expenses	23,237	20,930	66,566	63,369
Total expenses	61,930	57,897	184,830	173,212
Income before federal income taxes	8,548	11,692	32,024	41,633
Federal income taxes	2,778	3,921	10,553	14,012
Net income	$5,770	$7,771	$21,471	$27,621
Per share data:	'	'	'	'
Basic and diluted earnings (in dollars per share)	$0.39	$0.52	$1.43	$1.85
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)	14,971	14,918	14,962	14,902
Dilutive effect of share equivalents (in shares)	2	3	12	19
Average shares outstanding - diluted (in shares)	14,973	14,921	14,974	14,921

Unaudited_Consolidated_Stateme1

Unaudited Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Unaudited Consolidated Statements of Comprehensive Income [Abstract]	'	'	'	'
Net income	$5,770	$7,771	$21,471	$27,621
Unrealized net gains (losses) on securities:	'	'	'	'
Unrealized net gains (losses) arising during the period	-3,472	6,921	9,358	13,699
Less: reclassification adjustment for net gains (losses) included in net income	1,118	1,068	3,648	9,275
Change in unrealized gains (losses) on investments	-4,590	5,853	5,710	4,424
Foreign currency translation adjustments	-705	199	-835	-282
Other comprehensive income (loss)	-5,295	6,052	4,875	4,142
Comprehensive income	$475	$13,823	$26,346	$31,763

Unaudited_Consolidated_Stateme2

Unaudited Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Unaudited Consolidated Statements of Cash Flows [Abstract]	'	'
Net cash provided by operating activities	$31,110	$34,822
Investing activities:	'	'
Purchases of available-for-sale investments	-201,523	-273,675
Purchases of limited partnership interests	-4,212	0
Proceeds from sales or maturities of available-for-sale investments	204,979	302,726
Net sales (purchases) of short-term investments	1,726	-218
Other investing activities	-9,744	-20,308
Net cash provided by (used in) investing activities	-8,774	8,525
Financing activities:	'	'
Dividends paid to shareholders	-11,222	-11,227
Drawings on line of credit	10,000	0
Net cash used in financing activities	-1,222	-11,227
Effect of foreign exchange rates on cash and cash equivalents	-835	-282
Increase in cash and cash equivalents	20,279	31,838
Cash and cash equivalents at beginning of period	59,297	71,549
Cash and cash equivalents at end of period	$79,576	$103,387

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 2014
Investments [Abstract]	'
Investments	'
	(2) Investments:
	The following is a summary of available-for-sale securities at September 30, 2014 and December 31, 2013:
														Net
					Cost or			Gross			Gross			Unrealized
		Fair			Amortized			Unrealized			Unrealized			Gains
		Value			Cost			Gains			Losses			(Losses)
	Septmeber 30, 2014
	Fixed maturities
	U.S. government obligations	$	123,933		$	123,859		$	125		$	(51	)	$	74
	Residential mortgage-backed securities		7,349			7,084			322			(57	)		265
	Commercial mortgage-backed securities		35,694			35,132			737			(175	)		562
	States and municipal obligations		105,382			104,534			882			(34	)		848
	Corporate securities		129,497			130,186			2,185			(2,874	)		(689	)
	Foreign government obligations		29,946			30,372			185			(611	)		(426	)
	Total fixed maturities		431,801			431,167			4,436			(3,802	)		634
	Equity securities:
	Financial institutions		20,594			9,520			11,096			(22	)		11,074
	Industrial & miscellaneous		139,676			67,077			73,467			(868	)		72,599
	Total equity securities		160,270			76,597			84,563			(890	)		83,673
	Total	$	592,071		$	507,764		$	88,999		$	(4,692	)		84,307
											Applicable federal income taxes				(29,508	)
											Net unrealized gains - net of tax			$	54,799
	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 September 30, 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.
		30-Sep-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		353		$	90,946		$	(2,127	)		451		$	123,145		$	(3,105	)
	Greater than 12 months		131			44,616			(1,675	)		53			18,249			(1,040	)
	Total fixed maturities		484			135,562			(3,802	)		504			141,394			(4,145	)
	Equity securities:
	12 months or less		30			9,248			(806	)		10			1,682			(204	)
	Greater than 12 months		5			1,516			(84	)		2			1,980			(235	)
	Total equity securities		35			10,764			(890	)		12			3,662			(439	)
	Total fixed maturity and equity securities		519		$	146,326		$	(4,692	)		516		$	145,056		$	(4,584	)
	The fair value and the cost or amortized costs of fixed maturity investments at September 30, 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	$	145,547		$	145,511
	Excess of one year to five years		154,266			155,127
	Excess of five years to ten years		46,520			46,078
	Excess of ten years		8,987			8,340
	Contractual maturities		355,320			355,056
	Asset-backed securities		76,481			76,111
	Total	$	431,801		$	431,167
	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
		2014			2013			2014			2013
Fixed maturities:
Gross gains	$	798		$	2,043		$	5,399		$	5,695
Gross losses		(1,259	)		(1,277	)		(3,411	)		(3,497	)
Net realized gains (losses)		(461	)		766			1,988			2,198
Equity securities:
Gross gains		2,529			1,233			4,682			13,838
Gross losses		(346	)		(358	)		(1,057	)		(1,767	)
Net realized gains		2,183			875			3,625			12,071
Limited partnerships - net gain (loss)		(1,064	)		(211	)		7,204			2,227
Totals	$	658		$	1,430		$	12,817		$	16,496
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
	2014			2013			2014			2013
Realized net gains on the disposal of securities	$	2,223		$	1,090		$	5,837		$	11,888
Mark-to-market adjustment		(118	)		342			151			747
Equity in gains (losses) of limited partnership
investments - realized and unrealized		(1,064	)		(211	)		7,204			2,227
Impairment:
Write-downs based upon objective criteria		(441	)		(4	)		(546	)		(78	)
Recovery of prior write-downs
upon sale or disposal		58			213			171			1,712
Totals	$	658		$	1,430		$	12,817		$	16,496
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, 2014 includes an estimated $334 and $5,841 of net unrealized gains respectively, reported to the Company as part of the underlying assets of the various limited partnerships.  The value of limited partnerships at September 30, 2014 includes approximately $13,305 of accumulated net unrealized gains reported to the Company as part of the underlying assets of the various limited partnerships. Shareholders’ equity at September 30, 2014 includes approximately $28,923, net of federal income taxes, of reported earnings which remain undistributed by limited partnerships.
As of September 30, 2014, the Company had committed funds totaling $18,750 to two separate borrowers 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	9 Months Ended
	Sep. 30, 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 September 30:
	Premiums ceded to reinsurers	$	28,711	$	30,925
	Losses and loss expenses
	ceded to reinsurers		15,451		26,558
	Commissions from reinsurers		5,850		5,844
	Nine months ended September 30:
	Premiums ceded to reinsurers	$	91,345	$	87,335
	Losses and loss expenses
	ceded to reinsurers		54,473		61,806
	Commissions from reinsurers		17,425		15,095

Reportable_Segments

Reportable Segments	9 Months Ended
	Sep. 30, 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 and, prior to January 1, 2014, 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 (Loss)			Direct and Assumed Premium Written			Net Premium Earned		Segment Profit
	Three months ended September 30:
	Property and Casualty Insurance	$	84,644		$	57,097		$	9,520		$	82,272		$	52,036	$	9,712
	Reinsurance		9,947			8,850			(906	)		14,278			12,412		1,846
	Totals	$	94,591		$	65,947		$	8,614		$	96,550		$	64,448	$	11,558
	Nine months ended September 30:
	Property and Casualty Insurance	$	253,394		$	163,613		$	23,726		$	233,217		$	149,699	$	20,353
	Reinsurance		31,049			29,081			196			40,054			37,622		9,525
	Totals	$	284,443		$	192,694		$	23,922		$	273,271		$	187,321	$	29,878
	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
		2014			2013			2014			2013
	Profit:
	Segment profit	$	8,614		$	11,558		$	23,922		$	29,878
	Net investment income		2,073			2,192			6,456			6,587
	Net gains on investments		658			1,430			12,817			16,496
	Corporate expenses and other		(2,797	)		(3,488	)		(11,171	)		(11,328	)
	Income before federal income taxes	$	8,548		$	11,692		$	32,024		$	41,633
	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, 2014
Debt [Abstract]	'
Debt	'
	(5) Debt:
	The Company maintains a revolving line of credit with a $40,000 limit and an expiration date of September 23, 2018.  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 $20,000 as of September 30, 2014 and $10,000 as of December 31, 2013.  At September 30, 2014, the effective interest rate was 1.25%.  The Company has $20,000 remaining unused under the line of credit at September 30, 2014.

Taxes

Taxes	9 Months Ended
	Sep. 30, 2014
Taxes [Abstract]	'
Taxes	'
	(6) Taxes:
	As of September 30, 2014, the Company’s calendar years 2011 through 2013 remain subject to examination by the IRS.  The effective federal income tax 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, 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 September 30, 2014:
	Description	Total		Level 1			Level 2		Level 3
	Fixed maturities:
	U.S. government obligations	$	123,933	$	123,933		$	-	$	-
	Residential mortgage-backed securities		7,349		-			7,349		-
	Commercial mortgage-backed securities		35,694		-			35,694		-
	State and municipal obligations		105,382		-			105,382		-
	Corporate securities		126,748		-			126,748		-
	Options embedded in convertible securities		2,749		-			2,749		-
	Foreign government obligations		29,946		-			29,946		-
	Total fixed maturities		431,801		123,933			307,868		-
	Equity securities:
	Financial institutions		20,594		20,594			-		-
	Industrial & miscellaneous		139,676		139,676			-		-
	Total equity securities		160,270		160,270			-		-
	Short term		3,165		3,165			-		-
	Cash equivalents		75,141		-			75,141		-
		$	670,377	$	287,368		$	383,009	$	-
	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 comparable instruments with currently observable inputs through corroboration with market data. 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 nine months ended September 30, 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 nine months ended September 30, 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 September 30, 2014 and December 31, 2013 are as follows:
	Carrying		Fair Value
	Value		Level 1			Level 2		Level 3		Total
30-Sep-14
Assets:   Limited partnerships	$	79,583	$	-		$	-	$	79,583	$	79,583
Liabilities:   Short-term borrowings		20,000		-			20,000		-		20,000
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	9 Months Ended
	Sep. 30, 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:
					Value
					Per Share
	Effective	Number of Shares	Vesting	Service	on Grant
	Date	Issued	Date	Period	Date
	5/7/13	18,106	5/7/14	7/1/2013 - 6/30/2014	$24.30
	5/8/14	17,237	5/8/15	7/1/2014 - 6/30/2015	$25.53
	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 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	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 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 nine months ending September 30, 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		(835	)		9,358			8,523
	Amounts reclassified from
	accumulated other
	comprehensive income		-			(3,648	)		(3,648	)
	Net current-period other
	comprehensive income		(835	)		5,710			4,875
	Ending balance	$	566		$	54,799		$	55,365

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 2014
Investments [Abstract]	'
Summary of available for sale securities	'
	The following is a summary of available-for-sale securities at September 30, 2014 and December 31, 2013:
														Net
					Cost or			Gross			Gross			Unrealized
		Fair			Amortized			Unrealized			Unrealized			Gains
		Value			Cost			Gains			Losses			(Losses)
	Septmeber 30, 2014
	Fixed maturities
	U.S. government obligations	$	123,933		$	123,859		$	125		$	(51	)	$	74
	Residential mortgage-backed securities		7,349			7,084			322			(57	)		265
	Commercial mortgage-backed securities		35,694			35,132			737			(175	)		562
	States and municipal obligations		105,382			104,534			882			(34	)		848
	Corporate securities		129,497			130,186			2,185			(2,874	)		(689	)
	Foreign government obligations		29,946			30,372			185			(611	)		(426	)
	Total fixed maturities		431,801			431,167			4,436			(3,802	)		634
	Equity securities:
	Financial institutions		20,594			9,520			11,096			(22	)		11,074
	Industrial & miscellaneous		139,676			67,077			73,467			(868	)		72,599
	Total equity securities		160,270			76,597			84,563			(890	)		83,673
	Total	$	592,071		$	507,764		$	88,999		$	(4,692	)		84,307
											Applicable federal income taxes				(29,508	)
											Net unrealized gains - net of tax			$	54,799
	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 September 30, 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.
		30-Sep-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		353		$	90,946		$	(2,127	)		451		$	123,145		$	(3,105	)
	Greater than 12 months		131			44,616			(1,675	)		53			18,249			(1,040	)
	Total fixed maturities		484			135,562			(3,802	)		504			141,394			(4,145	)
	Equity securities:
	12 months or less		30			9,248			(806	)		10			1,682			(204	)
	Greater than 12 months		5			1,516			(84	)		2			1,980			(235	)
	Total equity securities		35			10,764			(890	)		12			3,662			(439	)
	Total fixed maturity and equity securities		519		$	146,326		$	(4,692	)		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 September 30, 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	$	145,547		$	145,511
	Excess of one year to five years		154,266			155,127
	Excess of five years to ten years		46,520			46,078
	Excess of ten years		8,987			8,340
	Contractual maturities		355,320			355,056
	Asset-backed securities		76,481			76,111
	Total	$	431,801		$	431,167
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
		2014			2013			2014			2013
	Fixed maturities:
	Gross gains	$	798		$	2,043		$	5,399		$	5,695
	Gross losses		(1,259	)		(1,277	)		(3,411	)		(3,497	)
	Net realized gains (losses)		(461	)		766			1,988			2,198
	Equity securities:
	Gross gains		2,529			1,233			4,682			13,838
	Gross losses		(346	)		(358	)		(1,057	)		(1,767	)
	Net realized gains		2,183			875			3,625			12,071
	Limited partnerships - net gain (loss)		(1,064	)		(211	)		7,204			2,227
	Totals	$	658		$	1,430		$	12,817		$	16,496
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
		2014			2013			2014			2013
	Realized net gains on the disposal of securities	$	2,223		$	1,090		$	5,837		$	11,888
	Mark-to-market adjustment		(118	)		342			151			747
	Equity in gains (losses) of limited partnership
	investments - realized and unrealized		(1,064	)		(211	)		7,204			2,227
	Impairment:
	Write-downs based upon objective criteria		(441	)		(4	)		(546	)		(78	)
	Recovery of prior write-downs
	upon sale or disposal		58			213			171			1,712
	Totals	$	658		$	1,430		$	12,817		$	16,496

Reinsurance_Tables

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2014
Reinsurance [Abstract]	'
Reinsurance	'
	The following table summarizes the Company’s transactions with reinsurers for the 2014 and 2013 comparative periods.
		2014		2013
	Quarter ended September 30:
	Premiums ceded to reinsurers	$	28,711	$	30,925
	Losses and loss expenses
	ceded to reinsurers		15,451		26,558
	Commissions from reinsurers		5,850		5,844
	Nine months ended September 30:
	Premiums ceded to reinsurers	$	91,345	$	87,335
	Losses and loss expenses
	ceded to reinsurers		54,473		61,806
	Commissions from reinsurers		17,425		15,095

Reportable_Segments_Tables

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 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 (Loss)			Direct and Assumed Premium Written			Net Premium Earned		Segment Profit
	Three months ended September 30:
	Property and Casualty Insurance	$	84,644		$	57,097		$	9,520		$	82,272		$	52,036	$	9,712
	Reinsurance		9,947			8,850			(906	)		14,278			12,412		1,846
	Totals	$	94,591		$	65,947		$	8,614		$	96,550		$	64,448	$	11,558
	Nine months ended September 30:
	Property and Casualty Insurance	$	253,394		$	163,613		$	23,726		$	233,217		$	149,699	$	20,353
	Reinsurance		31,049			29,081			196			40,054			37,622		9,525
	Totals	$	284,443		$	192,694		$	23,922		$	273,271		$	187,321	$	29,878
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
		2014			2013			2014			2013
	Profit:
	Segment profit	$	8,614		$	11,558		$	23,922		$	29,878
	Net investment income		2,073			2,192			6,456			6,587
	Net gains on investments		658			1,430			12,817			16,496
	Corporate expenses and other		(2,797	)		(3,488	)		(11,171	)		(11,328	)
	Income before federal income taxes	$	8,548		$	11,692		$	32,024		$	41,633

Fair_Value_Tables

Fair Value (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2014:
	Description	Total		Level 1			Level 2		Level 3
	Fixed maturities:
	U.S. government obligations	$	123,933	$	123,933		$	-	$	-
	Residential mortgage-backed securities		7,349		-			7,349		-
	Commercial mortgage-backed securities		35,694		-			35,694		-
	State and municipal obligations		105,382		-			105,382		-
	Corporate securities		126,748		-			126,748		-
	Options embedded in convertible securities		2,749		-			2,749		-
	Foreign government obligations		29,946		-			29,946		-
	Total fixed maturities		431,801		123,933			307,868		-
	Equity securities:
	Financial institutions		20,594		20,594			-		-
	Industrial & miscellaneous		139,676		139,676			-		-
	Total equity securities		160,270		160,270			-		-
	Short term		3,165		3,165			-		-
	Cash equivalents		75,141		-			75,141		-
		$	670,377	$	287,368		$	383,009	$	-
	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 nine months ended September 30, 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	'
		Carrying		Fair Value
		Value		Level 1			Level 2		Level 3		Total
	30-Sep-14
	Assets:   Limited partnerships	$	79,583	$	-		$	-	$	79,583	$	79,583
	Liabilities:   Short-term borrowings		20,000		-			20,000		-		20,000
	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)	9 Months Ended
	Sep. 30, 2014
Restricted Stock [Abstract]	'
Summary of stock issuances	'
	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:
					Value
					Per Share
	Effective	Number of Shares	Vesting	Service	on Grant
	Date	Issued	Date	Period	Date
	5/7/13	18,106	5/7/14	7/1/2013 - 6/30/2014	$24.30
	5/8/14	17,237	5/8/15	7/1/2014 - 6/30/2015	$25.53

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 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 nine months ending September 30, 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		(835	)		9,358			8,523
	Amounts reclassified from
	accumulated other
	comprehensive income		-			(3,648	)		(3,648	)
	Net current-period other
	comprehensive income		(835	)		5,710			4,875
	Ending balance	$	566		$	54,799		$	55,365

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 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		9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
	Security		Security		Security
	Agreement		Agreement
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Cost or amortized cost	$431,167	'	$431,167	'	'
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]	'	'	'	'	'
Applicable federal income taxes	-29,508	'	'	'	-26,432
Net unrealized gains - net of tax	54,799	'	'	'	49,089
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'	'	'
Number of Securities, total	519	'	519	'	516
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'	'	'
Fair value, total	146,326	'	146,326	'	145,056
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'	'	'
Gross unrealized loss, total	'	'	-4,692	'	-4,584
Available-for-sale securities debt maturities fair value [Abstract]	'	'	'	'	'
One year or less, Fair Value	145,547	'	145,547	'	'
Excess of one year to five years, Fair Value	154,266	'	154,266	'	'
Excess of five years to ten years, Fair Value	46,520	'	46,520	'	'
Excess of ten years, Fair Value	8,987	'	8,987	'	'
Contractual maturities, Fair Value	355,320	'	355,320	'	'
Asset-backed securities, Fair Value	76,481	'	76,481	'	'
Total, Fair Value	431,801	'	431,801	'	'
Available-for-sale securities debt maturities amortized cost basis [Abstract]	'	'	'	'	'
One year or less, Cost or Amortized Cost Basis	145,511	'	145,511	'	'
Excess of one year to five years, Cost or Amortized Cost Basis	155,127	'	155,127	'	'
Excess of five years to ten years, Cost or Amortized Cost Basis	46,078	'	46,078	'	'
Excess of ten years, Cost or Amortized Cost Basis	8,340	'	8,340	'	'
Contractual maturities, Cost or Amortized Cost Basis	355,056	'	355,056	'	'
Asset-backed securities, Cost or Amortized Cost Basis	76,111	'	76,111	'	'
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'	'	'
Limited partnerships - net gain (loss)	-1,064	-211	7,204	2,227	'
Net realized gains on investments	658	1,430	12,817	16,496	'
Available for sale securities gain loss activity [Abstract]	'	'	'	'	'
Realized net gains on the disposal of securities	2,223	1,090	5,837	11,888	'
Mark-to-market adjustment	-118	342	151	747	'
Equity in gains (losses) of limited partnership investments - realized and unrealized	-1,064	-211	7,204	2,227	'
Write-downs based upon objective criteria	-441	-4	-546	-78	'
Recovery of prior write-downs upon sale or disposal	58	213	171	1,712	'
Net realized gains on investments	658	1,430	12,817	16,496	'
Net unrealized gain (loss) on investments	334	'	5,841	'	'
Net unrealized gains in limited partnership	'	'	13,305	'	'
Undistributed earnings of limited partnership, net of taxes	28,923	'	28,923	'	'
Committed funds for bridge loans	18,750	'	18,750	'	'
Number of bridge loan agreements	3	'	3	'	'
U.S. government obligations [Member]	'	'	'	'	'
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	123,933	'	123,933	'	113,389
Cost or amortized cost	123,859	'	123,859	'	113,348
Gross unrealized gains	125	'	125	'	81
Gross unrealized losses	-51	'	-51	'	-40
Net unrealized gains (losses)	74	'	74	'	41
Residential mortgage-backed securities [Member]	'	'	'	'	'
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	7,349	'	7,349	'	13,252
Cost or amortized cost	7,084	'	7,084	'	12,058
Gross unrealized gains	322	'	322	'	1,334
Gross unrealized losses	-57	'	-57	'	-140
Net unrealized gains (losses)	265	'	265	'	1,194
Commercial mortgage-backed securities [Member]	'	'	'	'	'
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	35,694	'	35,694	'	28,565
Cost or amortized cost	35,132	'	35,132	'	28,406
Gross unrealized gains	737	'	737	'	308
Gross unrealized losses	-175	'	-175	'	-149
Net unrealized gains (losses)	562	'	562	'	159
States and municipal obligations [Member]	'	'	'	'	'
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	105,382	'	105,382	'	115,250
Cost or amortized cost	104,534	'	104,534	'	115,278
Gross unrealized gains	882	'	882	'	407
Gross unrealized losses	-34	'	-34	'	-435
Net unrealized gains (losses)	848	'	848	'	-28
Corporate securities [Member]	'	'	'	'	'
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	129,497	'	129,497	'	137,215
Cost or amortized cost	130,186	'	130,186	'	136,991
Gross unrealized gains	2,185	'	2,185	'	3,207
Gross unrealized losses	-2,874	'	-2,874	'	-2,983
Net unrealized gains (losses)	-689	'	-689	'	224
Foreign government obligations [Member]	'	'	'	'	'
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	29,946	'	29,946	'	23,879
Cost or amortized cost	30,372	'	30,372	'	23,689
Gross unrealized gains	185	'	185	'	588
Gross unrealized losses	-611	'	-611	'	-398
Net unrealized gains (losses)	-426	'	-426	'	190
Total fixed maturities [Member]	'	'	'	'	'
Available-for-sale Debt Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	431,801	'	431,801	'	431,550
Cost or amortized cost	431,167	'	431,167	'	429,770
Gross unrealized gains	4,436	'	4,436	'	5,925
Gross unrealized losses	-3,802	'	-3,802	'	-4,145
Net unrealized gains (losses)	634	'	634	'	1,780
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'	'	'
Number of Securities, 12 months or less	353	'	353	'	451
Number of Securities, Greater than 12 months	131	'	131	'	53
Number of Securities, total	484	'	484	'	504
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'	'	'
Fair value, 12 months or less	90,946	'	90,946	'	123,145
Fair value, Greater than 12 months	44,616	'	44,616	'	18,249
Fair value, total	135,562	'	135,562	'	141,394
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'	'	'
Gross unrealized loss, 12 months or less	'	'	-2,127	'	-3,105
Gross unrealized loss, Greater than 12 months	'	'	-1,675	'	-1,040
Gross unrealized loss, total	'	'	-3,802	'	-4,145
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'	'	'
Gross gains	798	2,043	5,399	5,695	'
Gross losses	-1,259	-1,277	-3,411	-3,497	'
Net realized gains (losses)	-461	766	1,988	2,198	'
Financial institutions [Member]	'	'	'	'	'
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	20,594	'	20,594	'	18,850
Cost or amortized cost	9,520	'	9,520	'	7,780
Gross unrealized gains	11,096	'	11,096	'	11,171
Gross unrealized losses	-22	'	-22	'	-101
Net unrealized gains (losses)	11,074	'	11,074	'	11,070
Industrial & miscellaneous [Member]	'	'	'	'	'
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	139,676	'	139,676	'	126,978
Cost or amortized cost	67,077	'	67,077	'	64,307
Gross unrealized gains	73,467	'	73,467	'	63,009
Gross unrealized losses	-868	'	-868	'	-338
Net unrealized gains (losses)	72,599	'	72,599	'	62,671
Total equity securities [Member]	'	'	'	'	'
Available-for-sale Equity Securities, Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	160,270	'	160,270	'	145,828
Cost or amortized cost	76,597	'	76,597	'	72,087
Gross unrealized gains	84,563	'	84,563	'	74,180
Gross unrealized losses	-890	'	-890	'	-439
Net unrealized gains (losses)	83,673	'	83,673	'	73,741
Available-for-sale securities continuous unrealized loss position [Abstract]	'	'	'	'	'
Number of Securities, 12 months or less	30	'	30	'	10
Number of Securities, Greater than 12 months	5	'	5	'	2
Number of Securities, total	35	'	35	'	12
Available-for-sale securities continuous unrealized loss position, Fair Value [Abstract]	'	'	'	'	'
Fair value, 12 months or less	9,248	'	9,248	'	1,682
Fair value, Greater than 12 months	1,516	'	1,516	'	1,980
Fair value, total	10,764	'	10,764	'	3,662
Available-for-sale securities continuous unrealized loss position, aggregate losses [Abstract]	'	'	'	'	'
Gross unrealized loss, 12 months or less	'	'	-806	'	-204
Gross unrealized loss, Greater than 12 months	'	'	-84	'	-235
Gross unrealized loss, total	'	'	-890	'	-439
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]	'	'	'	'	'
Gross gains	2,529	1,233	4,682	13,838	'
Gross losses	-346	-358	-1,057	-1,767	'
Net realized gains (losses)	2,183	875	3,625	12,071	'
Total available-for-sale securities [Member]	'	'	'	'	'
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]	'	'	'	'	'
Fair value	592,071	'	592,071	'	577,378
Cost or amortized cost	507,764	'	507,764	'	501,857
Gross unrealized gains	88,999	'	88,999	'	80,105
Gross unrealized losses	-4,692	'	-4,692	'	-4,584
Net unrealized gains (losses)	$84,307	'	$84,307	'	$75,521

Reinsurance_Details

Reinsurance (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Reinsurance [Abstract]	'	'	'	'
Premiums ceded to reinsurers	$28,711	$30,925	$91,345	$87,335
Losses and loss expenses ceded to reinsurers	15,451	26,558	54,473	61,806
Commissions from reinsurers	$5,850	$5,844	$17,425	$15,095

Reportable_Segments_Details

Reportable Segments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
			Segment
Reportable Segments [Abstract]	'	'	'	'
Number of reportable segments	'	'	2	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Premiums Earned	$65,947	$64,448	$192,694	$187,321
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Income before federal income taxes	8,548	11,692	32,024	41,633
Operating Segments [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Direct and Assumed Premium Written	94,591	96,550	284,443	273,271
Net Premiums Earned	65,947	64,448	192,694	187,321
Segment Profit (Loss)	8,614	11,558	23,922	29,878
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Segment profit	8,614	11,558	23,922	29,878
Operating Segments [Member] | Property and Casualty Insurance [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Direct and Assumed Premium Written	84,644	82,272	253,394	233,217
Net Premiums Earned	57,097	52,036	163,613	149,699
Segment Profit (Loss)	9,520	9,712	23,726	20,353
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Segment profit	9,520	9,712	23,726	20,353
Operating Segments [Member] | Reinsurance [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Direct and Assumed Premium Written	9,947	14,278	31,049	40,054
Net Premiums Earned	8,850	12,412	29,081	37,622
Segment Profit (Loss)	-906	1,846	196	9,525
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Segment profit	-906	1,846	196	9,525
Segment Reconciling Items [Member]	'	'	'	'
Reconciliation from segment totals to consolidated [Abstract]	'	'	'	'
Net investment income	2,073	2,192	6,456	6,587
Net gains on investments	658	1,430	12,817	16,496
Corporate expenses and other	($2,797)	($3,488)	($11,171)	($11,328)

Debt_Details

Debt (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Debt [Abstract]	'	'
Revolving line of credit limit	$40,000	'
Line of credit maturity date	23-Sep-18	'
Period of fixed interest on line of credit at company's options	'1 year	'
Outstanding drawings on line of credit	20,000	10,000
Effective interest rate (in hundredths)	1.25%	'
Remaining unused amount under line of credit	$20,000	'

Fair_Value_Details

Fair Value (Details) (Recurring [Member], USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fixed maturities [Abstract]	'	'
U.S. government obligations	$123,933	$113,389
Residential mortgage-backed securities	7,349	13,252
Commercial mortgage-backed securities	35,694	28,565
State and municipal obligations	105,382	115,250
Corporate securities	126,748	134,635
Options embedded in convertible securities	2,749	2,580
Foreign government obligations	29,946	23,879
Total fixed maturities	431,801	431,550
Equity Securities [Abstract]	'	'
Financial institutions	20,594	18,850
Industrial & miscellaneous	139,676	126,978
Total equity securities	160,270	145,828
Short term	3,165	4,891
Cash equivalents	75,141	52,002
Total fair value	670,377	634,271
Level 1 [Member]	'	'
Fixed maturities [Abstract]	'	'
U.S. government obligations	123,933	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	123,933	113,389
Equity Securities [Abstract]	'	'
Financial institutions	20,594	18,850
Industrial & miscellaneous	139,676	126,978
Total equity securities	160,270	145,828
Short term	3,165	4,891
Cash equivalents	0	0
Total fair value	287,368	264,108
Level 2 [Member]	'	'
Fixed maturities [Abstract]	'	'
U.S. government obligations	0	0
Residential mortgage-backed securities	7,349	13,252
Commercial mortgage-backed securities	35,694	28,565
State and municipal obligations	105,382	115,250
Corporate securities	126,748	134,635
Options embedded in convertible securities	2,749	2,580
Foreign government obligations	29,946	23,879
Total fixed maturities	307,868	318,161
Equity Securities [Abstract]	'	'
Financial institutions	0	0
Industrial & miscellaneous	0	0
Total equity securities	0	0
Short term	0	0
Cash equivalents	75,141	52,002
Total fair value	383,009	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 $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 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 $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Carrying Value [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	$79,583	$68,988
Liabilities [Abstract]	'	'
Short-term borrowings	20,000	10,000
Fair Value [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	79,583	68,988
Liabilities [Abstract]	'	'
Short-term borrowings	20,000	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	20,000	10,000
Fair Value [Member] | Level 3 [Member]	'	'
Assets [Abstract]	'	'
Limited partnerships	79,583	68,988
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-14	31-May-13	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 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)	$25.53	$24.30	'	'	'	'	$23.81
Summary of stock Issuances [Abstract]	'	'	'	'	'	'	'
Shares granted (in shares)	17,237	18,106	'	'	'	'	'
Vesting Date	8-May-15	7-May-14	'	'	'	'	'
Service Period	'7/1/2014 - 6/30/2015	'7/1/2013 - 6/30/2014	'	'	'	'	'
Period restricted stocks will vest ratably from date of grant	'	'	'	'3 years	'	'	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 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	'	'	8,523	'
Amounts reclassified from accumulated other comprehensive income	'	'	-3,648	'
Other comprehensive income (loss)	-5,295	6,052	4,875	4,142
Total accumulated other comprehensive income, ending balance	55,365	'	55,365	'
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	'	'	-835	'
Amounts reclassified from accumulated other comprehensive income	'	'	0	'
Other comprehensive income (loss)	'	'	-835	'
Total accumulated other comprehensive income, ending balance	566	'	566	'
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	'	'	9,358	'
Amounts reclassified from accumulated other comprehensive income	'	'	-3,648	'
Other comprehensive income (loss)	'	'	5,710	'
Total accumulated other comprehensive income, ending balance	$54,799	'	$54,799	'