Protective Insurance (PTVCA) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 03, 2020
Entity Information [Line Items]
Entity Registrant Name	PROTECTIVE INSURANCE CORPORATION
Entity Central Index Key	0000009346
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		14,265,867
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-5534
Entity Tax Identification Number	35-0160330
Entity Incorporation, State or Country Code	IN
Entity Address, Address Line One	111 Congressional Boulevard
Entity Address, City or Town	Carmel
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46032
City Area Code	317
Local Phone Number	636-9800
Common Class A (voting) [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,603,350
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	PTVCA
Security Exchange Name	NASDAQ
Common Class B (non-voting) [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		11,662,517
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	PTVCB
Security Exchange Name	NASDAQ

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments:
Fixed income securities	$ 851,937	$ 795,538
Equity securities	48,417	76,812
Limited partnerships	7,455	23,292
Commercial mortgage loans	11,087	11,782
Short-term and other	1,000	1,000
Total Investments	919,896	908,424
Cash and cash equivalents	90,425	67,851
Restricted cash and cash equivalents	10,117	21,037
Accounts receivable	94,820	111,762
Reinsurance recoverable	429,544	432,067
Other assets	91,109	86,306
Current federal income taxes recoverable	3,102	4,878
Deferred federal income taxes	5,810	2,035
Total Assets	1,644,823	1,634,360
Liabilities and shareholders' equity
Reserves for losses and loss expenses	1,054,457	988,305
Reserves for unearned premiums	63,553	74,810
Reinsurance payable	53,202	65,835
Short-term borrowings	20,000	20,000
Accounts payable and other liabilities	108,947	121,094
Total Liabilities	1,300,159	1,270,044
Shareholders' equity:
Additional paid-in capital	54,160	53,349
Accumulated other comprehensive income	14,185	9,369
Retained earnings	275,710	300,988
Total Shareholders' Equity	344,664	364,316
Total Liabilities and Shareholders' Equity	1,644,823	1,634,360
Class A Voting [Member]
Shareholders' equity:
Common stock	111	111
Class B Non-voting [Member]
Shareholders' equity:
Common stock	$ 498	$ 499

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
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)	2,603,350	2,603,350
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)	11,650,004	11,675,956

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Net premiums earned	$ 117,853	$ 110,288	$ 325,242	$ 335,931
Net investment income	5,486	6,703	19,102	19,434
Commissions and other income	1,469	2,716	5,020	6,761
Net realized gains (losses) on investments, excluding impairment losses	(39)	1,199	(8,924)	1,872
Impairment losses on investments	(588)	(58)	(1,046)	(404)
Net unrealized gains (losses) on equity securities and limited partnership investments	771	(1,016)	(7,026)	7,573
Net realized and unrealized gains (losses) on investments	144	125	(16,996)	9,041
Total revenues	124,952	119,832	332,368	371,167
Expenses
Losses and loss expenses incurred	84,673	84,781	234,713	262,336
Other operating expenses	36,952	36,070	105,259	104,386
Total expenses	121,625	120,851	339,972	366,722
Income (loss) before federal income tax expense (benefit)	3,327	(1,019)	(7,604)	4,445
Federal income tax expense (benefit)	46	(312)	(96)	869
Net income (loss)	$ 3,281	$ (707)	$ (7,508)	$ 3,576
Net income (loss) per share:
Basic (in dollars per share)	$ 0.23	$ (0.05)	$ (0.53)	$ 0.24
Diluted (in dollars per share)	$ 0.23	$ (0.05)	$ (0.53)	$ 0.24
Weighted average number of shares outstanding:
Basic (in shares)	14,132	14,361	14,139	14,607
Dilutive effect of share equivalents (in shares)	169			77
Diluted (in shares)	14,301	14,361	14,139	14,684

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 3,281	$ (707)	$ (7,508)	$ 3,576
Other comprehensive income, net of tax:
Unrealized net gains on fixed income securities	6,133	1,566	5,123	16,539
Foreign currency translation adjustments	159	(189)	(307)	402
Other comprehensive income	6,292	1,377	4,816	16,941
Comprehensive income (loss)	$ 9,573	$ 670	$ (2,692)	$ 20,517

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total	Class A [Member]Common Stock [Member]	Class B [Member]Common Stock [Member]	Class B [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Class A [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Class B [Member]Common Stock [Member]
Beginning balance at Dec. 31, 2018	$ 54,720	$ (7,347)	$ 308,075	$ 356,082	$ 112	$ 522
Beginning balance (in shares) at Dec. 31, 2018					2,615,000	12,254,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss (income)	0	0	3,576	3,576	$ 0	$ 0
Foreign currency translation adjustment, net of tax	0	402	0	402	0	0
Change in unrealized gain (loss) on investments, net of tax	0	16,539	0	16,539	0	0
Common stock dividends	0	0	(4,429)	(4,429)	0	0
Repurchase of common shares	(2,590)	0	(7,669)	(10,283)	$ 0	$ (24)
Repurchase of common shares (in shares)					(6,000)	(595,000)
Restricted stock grants	1,540	0	0	1,543	$ 0	$ 3
Restricted stock grants (in shares)					0	80,000
Ending balance at Sep. 30, 2019	53,670	9,594	299,553	363,430	$ 112	$ 501
Ending balance (in shares) at Sep. 30, 2019					2,609,000	11,739,000
Beginning balance at Jun. 30, 2019	54,065	8,217	304,513	367,416	$ 112	$ 509
Beginning balance (in shares) at Jun. 30, 2019					2,612,000	11,932,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss (income)	0	0	(707)	(707)	$ 0	$ 0
Foreign currency translation adjustment, net of tax	0	(189)	0	(189)	0	0
Change in unrealized gain (loss) on investments, net of tax	0	1,566	0	1,566	0	0
Common stock dividends	0	0	(1,442)	(1,442)	0	0
Repurchase of common shares	(976)	0	(2,811)	(3,796)	$ 0	$ (9)
Repurchase of common shares (in shares)					(3,000)	(224,000)
Restricted stock grants	581	0	0	582	$ 0	$ 1
Restricted stock grants (in shares)					0	31,000
Ending balance at Sep. 30, 2019	53,670	9,594	299,553	363,430	$ 112	$ 501
Ending balance (in shares) at Sep. 30, 2019					2,609,000	11,739,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of the adoption of updated accounting guidance for credit losses, net of tax | ASU 2016-13 [Member]								$ 0	$ 0	$ (12,281)	$ (12,281)	$ 0	$ 0
Beginning balance at Dec. 31, 2019	53,349	9,369	300,988	364,316	$ 111	$ 499
Beginning balance (ASU 2016-13 [Member]) at Dec. 31, 2019										$ (12,281)
Beginning balance (in shares) at Dec. 31, 2019					2,603,000	11,676,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss (income)	0	0	(7,508)	(7,508)	$ 0	$ 0
Foreign currency translation adjustment, net of tax	0	(307)	0	(307)	0	0
Change in unrealized gain (loss) on investments, net of tax	0	5,123	0	5,123	0	0
Common stock dividends	0	0	(4,275)	(4,275)	0	0
Repurchase of common shares	(563)	0	(1,214)	(1,782)	$ 0	$ (5)
Repurchase of common shares (in shares)					0	(127,000)	(126,764)
Restricted stock grants	1,374	0	0	1,378	$ 0	$ 4
Restricted stock grants (in shares)					0	101,000
Ending balance at Sep. 30, 2020	54,160	14,185	275,710	344,664	$ 111	$ 498
Ending balance (in shares) at Sep. 30, 2020					2,603,000	11,650,000
Beginning balance at Jun. 30, 2020	53,692	7,893	273,846	336,038	$ 111	$ 496
Beginning balance (in shares) at Jun. 30, 2020					2,603,000	11,610,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss (income)	0	0	3,281	3,281	$ 0	$ 0
Foreign currency translation adjustment, net of tax	0	159	0	159	0	0
Change in unrealized gain (loss) on investments, net of tax	0	6,133	0	6,133	0	0
Common stock dividends	0	0	(1,417)	(1,417)	0	0
Repurchase of common shares	0	0	0	0	$ 0	$ 0
Repurchase of common shares (in shares)					0	0
Restricted stock grants	468	0	0	470	$ 0	$ 2
Restricted stock grants (in shares)					0	40,000
Ending balance at Sep. 30, 2020	$ 54,160	$ 14,185	$ 275,710	$ 344,664	$ 111	$ 498
Ending balance (in shares) at Sep. 30, 2020					2,603,000	11,650,000

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities
Net income (loss)	$ (7,508)	$ 3,576
Adjustments to reconcile net income (loss) to net cash provided by operating activities	50,599	58,746
Net cash provided by operating activities	43,091	62,322
Investing activities
Purchases of fixed income and equity securities	(271,741)	(342,299)
Distributions from limited partnerships	14,636	33,395
Proceeds from maturities	95,454	64,536
Proceeds from sales of fixed income securities	89,746	118,725
Proceeds from sales of equity securities	47,171	19,408
Purchase of commercial mortgage loans	(410)	(2,746)
Proceeds from commercial mortgage loans	909	0
Purchases of property and equipment	(838)	(1,659)
Proceeds from disposals of property and equipment	0	4
Net cash used in investing activities	(25,073)	(110,636)
Financing activities
Dividends paid to shareholders	(4,275)	(4,429)
Repurchase of common shares	(1,782)	(10,283)
Net cash used in financing activities	(6,057)	(14,712)
Effect of foreign exchange rates on cash and cash equivalents	(307)	402
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	11,654	(62,624)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	88,888	170,811
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$ 100,542	$ 108,187

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies: Description of Business: The term “Insurance Subsidiaries,” as used throughout this document, refers to Protective Insurance Company, Protective Specialty Insurance Company, Sagamore Insurance Company and B&L Insurance, Ltd. Basis of Presentation: Accounting Policies Investments : Commercial mortgage loans are carried primarily at amortized cost along with an allowance for losses when necessary. These investments represent interests in commercial mortgage loans originated and serviced by a third party of which the Company shares, on a pro-rata basis, in all related cash flows of the underlying mortgage loans. The Company recorded an allowance of $195 on its commercial mortgage loans as of September 30, 2020 in conjunction with the adoption of the new credit losses accounting standard discussed below. 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 the limited partnerships 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 condensed consolidated statements of operations, its proportionate share of the investee's unrealized, as well as realized, investment gains or losses within net unrealized gains (losses) on equity securities and limited partnership investments. Short-term and other investments are carried at cost, which approximates their fair values. Fixed income securities are considered to be available-for-sale. The related unrealized net gains or losses (net of applicable tax effects) on fixed income securities are reflected directly in other comprehensive income (loss) within shareholders' equity. Included within available-for-sale fixed income securities are convertible debt securities. A portion of the changes in the fair values of convertible debt securities is reflected as a component of net realized gains (losses) on investments, excluding impairment losses within the condensed consolidated statements of operations. Realized gains and losses on disposals of fixed income securities are recorded on the trade date. Realized gains and losses on fixed income securities are determined by the specific identification of the cost of investments sold and are included in net realized gains (losses) on investments, excluding impairment losses. Equity securities are recorded at fair value, with unrealized net gains or losses reflected as a component of net unrealized gains (losses) on equity securities and limited partnership investments within the condensed consolidated statements of operations. Realized gains and losses on disposals of equity securities are recorded on the trade date and included in net realized gains (losses) on investments, excluding impairment losses. Recognition of Revenue and Costs: condensed The following accounting policies have been updated effective January 1, 2020 to reflect the Company's adoption of Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, or ASU 2016-13, as described below. Investment Impairments: For a fixed income security that the Company does not intend to sell or in cases where it is more likely than not that the Company will not have to sell the security, the Company separates the credit loss component of the impairment from the amount related to all other factors and reports the credit loss component within net realized gains (losses) on investments, excluding impairment losses in the condensed consolidated statements of operations. The impairment related to all other factors (non-credit factors) is reported in other comprehensive income (loss). The allowance is adjusted for any additional credit losses and subsequent recoveries. Upon recognizing a credit loss, the cost basis is not adjusted. The Company considers the extent to which fair value is below amortized cost in determining whether a credit-related loss exists. The Company also considers the credit quality rating of the security, focusing on those below investment grade, with emphasis on securities downgraded below investment grade. Additionally, the Company may conclude that a qualitative analysis is sufficient to support its conclusion that the present value of the expected cash flows equals or exceeds a security’s amortized cost. The Company reports investment income due and accrued separately from available-for-sale fixed income securities and has elected not to measure an allowance for credit losses for investment income due and accrued. Investment income due and accrued is written off through at the time the issuer defaults or is expected to default on payments. Deductible Receivables : Recently Adopted Accounting Pronouncements: condensed condensed In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13. ASU 2016-13 introduced a current expected credit loss ("CECL") model for measuring expected credit losses for certain types of financial instruments held at the reporting date requiring significant judgment in application based on historical experience, current conditions and reasonable supportable forecasts, but is not prescriptive about certain aspects of estimating expected losses. The guidance replaced the current incurred loss model for measuring expected credit losses and provided for additional disclosure requirements. Subsequently, the FASB issued additional ASUs on Topic 326 that did not change the core principle of the guidance in ASU 2016-13, but provided clarification and implementation guidance on certain aspects of ASU 2016-13, and had the same effective date and transition requirements as ASU 2016-13. The Company adopted the guidance recognized a cumulative effect adjustment of $ ($ , net of tax), The updated guidance in ASU 2016-13 also amended the previous other-than-temporary impairment ("OTTI") model for available-for-sale fixed income securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The Company adopted the guidance related to available-for-sale fixed income securities on January 1, 2020 using a prospective transition approach for available-for-sale fixed income securities that were purchased with credit deterioration or had recognized an OTTI write-down prior to the effective date. The effect of the prospective transition approach was to maintain the same amortized cost basis before and after the effective date. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, or ASU 2018-13. This update removed the disclosure requirements for the amounts of and the reasons for transfers between Level 1 and Level 2 and disclosure of the policy for timing of transfers between levels. This update also removed disclosure requirements for the valuation processes for Level 3 fair value measurements. Additionally, this update added disclosure requirements for the changes in unrealized gains and losses for recurring Level 3 fair value measurements and quantitative information for certain unobservable inputs in Level 3 fair value measurements. The Company adopted ASU 2018-13 as of January 1, 2020. As the requirements of this guidance are applicable to disclosure only, the adoption of ASU 2018-13 had no material impact on the Company's condensed consolidated financial statements. Recently Issued Accounting Pronouncements: In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, or ASU 2019-12. Among other items, the amendments in ASU 2019-12 simplify the accounting treatment of tax law changes and year-to-date losses in interim periods. An entity generally recognizes the effects of a change in tax law in the period of enactment; however, there is an exception for tax laws with delayed effective dates. Under current guidance, an entity may not adjust its annual effective tax rate for a tax law change until the period in which the law is effective. This exception was removed under ASU 2019-12, thereby providing that all effects of a tax law change are recognized in the period of enactment, including adjustment of the estimated annual effective tax rate. Regarding year-to-date losses in interim periods, an entity is required to estimate its annual effective tax rate for the full fiscal year at the end of each interim period and use that rate to calculate its income taxes on a year-to-date basis. However, current guidance provides an exception that when a loss in an interim period exceeds the anticipated loss for the year, the income tax benefit is limited to the amount that would be recognized if the year-to-date loss were the anticipated loss for the full year. ASU 2019-12 removes this exception and provides that in this situation, an entity would compute its income tax benefit at each interim period based on its estimated annual effective tax rate. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods within those annual periods. Early adoption is permitted.

Investments

Investments	9 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Investments	(2) Investments: The following is a summary of available-for-sale securities at September 30, 2020 and December 31, 2019: Fair Value Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Net Unrealized Gains (Losses) September 30, 2020 Fixed income securities Agency collateralized mortgage obligations $ 10,106 $ 9,992 $ 401 $ (287 ) $ 114 Agency mortgage-backed securities 98,651 95,597 3,079 (25 ) 3,054 Asset-backed securities 102,193 104,985 579 (3,371 ) (2,792 ) Bank loans 8,580 9,605 – (1,025 ) (1,025 ) Certificates of deposit 520 520 – – – Collateralized mortgage obligations 6,034 6,167 56 (189 ) (133 ) Corporate securities 324,116 310,689 14,579 (1,152 ) 13,427 Mortgage-backed securities 43,233 47,780 1,051 (5,598 ) (4,547 ) Municipal obligations 43,920 42,266 1,694 (40 ) 1,654 Non-U.S. government obligations 29,718 28,896 822 – 822 U.S. government obligations 184,866 176,464 8,422 (20 ) 8,402 Total fixed income securities $ 851,937 $ 832,961 $ 30,683 $ (11,707 ) $ 18,976 Fair Value Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Net Unrealized Gains (Losses) December 31, 2019 Fixed income securities Agency collateralized mortgage obligations $ 12,093 $ 11,557 $ 536 $ – $ 536 Agency mortgage-backed securities 56,280 54,286 2,005 (11 ) 1,994 Asset-backed securities 106,397 107,028 499 (1,130 ) (631 ) Bank loans 14,568 14,932 106 (470 ) (364 ) Certificates of deposit 2,835 2,835 – – – Collateralized mortgage obligations 5,616 5,123 493 – 493 Corporate securities 281,381 274,340 7,492 (451 ) 7,041 Mortgage-backed securities 47,463 46,685 1,047 (269 ) 778 Municipal obligations 36,286 35,749 684 (147 ) 537 Non-U.S. government obligations 24,179 23,889 290 – 290 U.S. government obligations 208,440 206,623 2,891 (1,074 ) 1,817 Total fixed income securities $ 795,538 $ 783,047 $ 16,043 $ (3,552 ) $ 12,491 The following table summarizes, for available-for-sale fixed income securities in an unrealized loss position at September 30, 2020 and December 31, 2019, the aggregate fair value and gross unrealized loss categorized by the duration individual securities have been continuously in an unrealized loss position. September 30, 2020 December 31, 2019 Number of Securities Fair Value Gross Unrealized Loss Number of Securities Fair Value Gross Unrealized Loss Fixed income securities: 12 months or less 155 $ 149,489 $ (8,214 ) 88 $ 108,387 $ (2,452 ) Greater than 12 months 25 28,495 (3,493 ) 69 66,860 (1,100 ) Total fixed income securities 180 $ 177,984 $ (11,707 ) 157 $ 175,247 $ (3,552 ) The fair value and the cost or amortized costs of fixed income investments at September 30, 2020, organized 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 $ 92,882 $ 92,080 Excess of one year to five years 337,419 324,886 Excess of five years to ten years 144,672 135,091 Excess of ten years 22,781 22,550 Contractual maturities 597,754 574,607 Asset-backed securities 254,183 258,354 Total $ 851,937 $ 832,961 Following is a summary of the components of net realized and unrealized gains (losses) on investments for the periods presented in the accompanying condensed consolidated statements of operations. Three Months Ended September 30 Nine Months Ended September 30 2020 2019 2020 2019 Gross gains on available-for-sale fixed income securities sold during the period $ 2,875 $ 2,407 $ 8,088 $ 9,710 Gross losses on available-for-sale fixed income securities sold during the period (2,662 ) (2,728 ) (7,552 ) (9,409 ) Impairment losses on investments (588 ) (58 ) (1,046 ) (404 ) Change in value of limited partnership investments 62 278 (1,201 ) 1,000 Gains on equity securities: Realized gains (losses) on equity securities sold during the period (252 ) 1,520 (9,460 ) 1,571 Unrealized gains (losses) on equity securities held at the end of the period 709 (1,294 ) (5,825 ) 6,573 Realized and unrealized gains (losses) on equity securities during the period 457 226 (15,285 ) 8,144 Net realized and unrealized gains (losses) on investments $ 144 $ 125 $ (16,996 ) $ 9,041 As discussed in Note 1, the Company adopted the provisions of the new CECL model for measuring expected credit losses for available-for-sale fixed income securities as of January 1, 2020. The updated guidance amended the previous OTTI model for available-for-sale fixed income securities by requiring the recognition of impairments relating to credit losses through an allowance account on the balance sheet with a corresponding adjustment to earnings and limiting the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. For those securities the Company intended to sell as of September 30, 2020, a write down to earnings of $588 and $1,046 was recorded during the three and nine months ended September 30, 2020. The Company reviewed its remaining fixed income securities in an unrealized loss position as of September 30, 2020 and determined the losses were primarily the result of non-credit factors, such as the increase in market volatility due to the disruption in global financial markets as a result of the novel coronavirus COVID-19 ("COVID-19") pandemic and responses to it. The Company currently does not intend to sell nor does it expect to be required to sell these securities before recovery of their amortized cost. Based on the above factors, the Company did not record any allowance for credit losses related to these available-for-sale fixed income securities under the new guidance in the first nine months of 2020. Shareholders' equity at September 30, 2020 included approximately $4,038, net of federal income tax expense, of reported earnings that remain undistributed by limited partnerships.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2020
Reinsurance [Abstract]
Reinsurance	(3) Reinsurance: The following table summarizes the Company's transactions with reinsurers for the three and nine months ended September 30, 2020 and 2019 comparative periods. 2020 2019 Three months ended September 30: Premiums ceded to reinsurers $ 26,825 $ 29,957 Losses and loss expenses ceded to reinsurers 27,270 27,228 Commissions from reinsurers 7,206 7,820 2020 2019 Nine months ended September 30: Premiums ceded to reinsurers $ 83,508 $ 92,556 Losses and loss expenses ceded to reinsurers 75,201 86,876 Commissions from reinsurers 21,785 23,229

Loss and Loss Expense Reserves

Loss and Loss Expense Reserves	9 Months Ended
	Sep. 30, 2020
Loss and Loss Expense Reserves [Abstract]
Loss and Loss Expense Reserves	(4) Loss and Loss Expense Reserves: Activity in the reserves for losses and loss expenses for the nine months ended September 30, 2020 and 2019 is summarized as follows. All amounts are shown net of reinsurance, unless otherwise indicated. Nine Months Ended September 30 2020 2019 Reserves, gross of reinsurance recoverable, at the beginning of the year $ 988,305 $ 865,339 Reinsurance recoverable on unpaid losses at the beginning of the year 398,305 375,935 Reserves at the beginning of the year 590,000 489,404 Provision for losses and loss expenses: Claims occurring during the current period 234,718 263,925 Claims occurring during prior periods (5 ) (1,589 ) Total incurred 234,713 262,336 Loss and loss expense payments: Claims occurring during the current period 47,852 53,836 Claims occurring during prior periods 136,231 133,196 Total paid 184,083 187,032 Reserves at the end of the period 640,630 564,708 Reinsurance recoverable on unpaid losses at the end of the period 413,827 395,987 Reserves, gross of reinsurance recoverable, at the end of the period $ 1,054,457 $ 960,695 The $5 prior accident year favorable development during the nine months ended September 30, 2020 was primarily due to favorable loss development in the Company's occupational accident line of business for accident years 2018 and 2019, mostly offset by unfavorable loss development in excess automobile liability and public transportation primarily for accident year 2018.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Information [Abstract]
Segment Information	(5) Segment Information: The Company has one reportable business segment in its operations: Property and Casualty Insurance. The property and casualty insurance segment provides multiple lines of insurance coverage primarily to commercial automobile companies, as well as to independent contractors who contract with commercial automobile companies. The following table summarizes segment revenues for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30 Nine Months Ended September 30 2020 2019 2020 2019 Revenues: Net premiums earned $ 117,853 $ 110,288 $ 325,242 $ 335,931 Net investment income 5,486 6,703 19,102 19,434 Net realized and unrealized gains (losses) on investments 144 125 (16,996 ) 9,041 Commissions and other income 1,469 2,716 5,020 6,761 Total revenues $ 124,952 $ 119,832 $ 332,368 $ 371,167

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt [Abstract]
Debt	(6) Debt: On August 9, 2018, the Company entered into a credit agreement providing a revolving credit facility with a $40,000 limit, with the option for up to an additional $35,000 in incremental loans at the discretion of the lenders. This credit agreement has an expiration date of August 9, 2022. Interest on this revolving credit facility is referenced to the London Interbank Offered Rate and can be fixed for periods of up to one year at the Company's option. Outstanding drawings on this revolving credit facility were $20,000 as of September 30, 2020. At September 30, 2020, the effective interest rate was 1.26%, and the Company had $20,000 remaining available under the revolving credit facility. The current outstanding borrowings were used to repay the Company's previous line of credit. The Company's revolving credit facility has two financial covenants, each of which were met as of September 30, 2020. These covenants require the Company to have a minimum U.S. generally accepted accounting principles net worth and a maximum consolidated debt to equity ratio of 0.35.

Taxes

Taxes	9 Months Ended
	Sep. 30, 2020
Taxes [Abstract]
Taxes	(7) Taxes: The Company uses the estimated annual effective tax rate method for calculating its tax provision in interim periods, which represents the Company’s best estimate of the effective tax rate expected for the full year based on projected annual taxable income (loss). The effective tax rate can fluctuate throughout the year because estimates used in the quarterly tax provision are updated as more information becomes available throughout the year. The effective federal tax rate on consolidated income for the three months ended September 30, 2020 was 1.4% compared to 30.6% on consolidated loss for the three months ended September 30, 2019. The effective federal tax rate on consolidated loss for the nine months ended September 30, 2020 was 1.3% compared to 19.6% on consolidated income for the nine months ended September 30, 2019. Pre-tax losses in the periods presented make these interim period effective tax rates less comparable year-over-year. The difference in the effective federal income tax rate from the normal statutory rate was primarily related to adjustments to the valuation allowance in the current period on our deferred tax assets discussed below, in addition to the effects of tax-exempt investment income and the dividends received deduction. In assessing the valuation of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income or availability to carryback the losses to taxable income during the periods in which those temporary differences become deductible. The Company considered several factors when analyzing the need for a valuation allowance, including the Company's current three year cumulative loss through , the increase in deferred tax assets due to the adoption of CECL at January 1, 2020 discussed in Note 1, the change in unrealized gains and losses and the loss of a high taxable income year from the carryback period. The three year cumulative loss limits the Company's ability to use projected income beyond 2020 in the analysis. Based on this analysis, the Company concluded that a valuation allowance was necessary for its deferred tax assets not supported by either carryback availability or future reversals of existing taxable temporary differences. The Company's valuation allowance was $ as of , all of which was recorded in the condensed consolidated statement of operations for the months ended . This represented an $ reduction to the valuation allowance of $ recorded for the six months ended June 30, 2020. Of this reduction, $ was recorded in the condensed consolidated statement of operations for the three months ended and the balance was recorded in shareholders' equity within accumulated other comprehensive income as of . As of September 30, 2020, the Company's calendar years 2018, 2017 and 2016 r

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2020
Fair Value [Abstract]
Fair Value	(8) Fair Value: Assets and liabilities recorded at fair value in the condensed 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, 2020: Description Total Level 1 Level 2 Level 3 Fixed income securities: Agency collateralized mortgage obligations $ 10,106 $ – $ 10,106 $ – Agency mortgage-backed securities 98,651 – 98,651 – Asset-backed securities 102,193 – 102,193 – Bank loans 8,580 – 8,580 – Certificates of deposit 520 520 – – Collateralized mortgage obligations 6,034 – 6,034 – Corporate securities 318,874 – 318,874 – Options embedded in convertible securities 5,242 – 5,242 – Mortgage-backed securities 43,233 – 43,233 – Municipal obligations 43,920 – 43,920 – Non-U.S. government obligations 29,718 – 29,718 – U.S. government obligations 184,866 – 184,866 – Total fixed income securities 851,937 520 851,417 – Equity securities: Consumer 11,220 11,220 – – Energy 1,059 1,059 – – Financial 22,357 22,357 – – Industrial 4,072 4,072 – – Technology 2,481 2,481 – – Funds (e.g., mutual funds, closed end funds, ETFs) – – – – Other 7,228 7,228 – – Total equity securities 48,417 48,417 – – Short-term investments 1,000 1,000 – – Cash equivalents 78,401 – 78,401 – Total $ 979,755 $ 49,937 $ 929,818 $ – As of December 31, 2019: Description Total Level 1 Level 2 Level 3 Fixed income securities: Agency collateralized mortgage obligations $ 12,093 $ – $ 12,093 $ – Agency mortgage-backed securities 56,280 – 56,280 – Asset-backed securities 106,397 – 106,397 – Bank loans 14,568 – 14,568 – Certificates of deposit 2,835 2,835 – – Collateralized mortgage obligations 5,616 – 5,616 – Corporate securities 276,087 – 276,087 – Options embedded in convertible securities 5,294 – 5,294 – Mortgage-backed securities 47,463 – 47,463 – Municipal obligations 36,286 – 36,286 – Non-U.S. government obligations 24,179 – 24,179 – U.S. government obligations 208,440 – 208,440 – Total fixed income securities 795,538 2,835 792,703 – Equity securities: Consumer 16,707 16,707 – – Energy 3,074 3,074 – – Financial 31,577 31,577 – – Industrial 4,927 4,927 – – Technology 2,817 2,817 – – Funds (e.g., mutual funds, closed end funds, ETFs) 9,460 9,460 – – Other 8,250 8,250 – – Total equity securities 76,812 76,812 – – Short-term investments 1,000 1,000 – – Cash equivalents 59,780 – 59,780 – Total $ 933,130 $ 80,647 $ 852,483 $ – Level inputs, as defined by the FASB guidance, 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 Company did not have any Level 3 assets at September 30, 2020 or December 31, 2019. Level 3 assets, when present, are valued using various unobservable inputs, including extrapolated data, proprietary models and indicative quotes. Quoted market prices are obtained whenever possible. Where quoted market prices are not available, fair values are estimated using broker/dealer quotes for specific securities. These techniques are significantly affected by the Company's assumptions, including discount rates and estimates of future cash flows. Potential taxes and other transaction costs have not been considered in estimating fair values. 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, 2020. In addition to the preceding disclosures on assets recorded at fair value in the condensed 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 condensed 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 policy reserve liabilities are excluded from the fair value disclosures. Therefore, the fair value amounts cannot be aggregated to determine the underlying economic value of the Company. 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; 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. Commercial mortgage loans: Commercial mortgage loans are carried primarily at amortized cost along with a valuation allowance for losses when necessary. These investments represent interests in commercial mortgage loans originated and serviced by a third party of which the Company shares, on a pro-rata basis, in all related cash flows of the underlying mortgage loans. The fair value of the Company’s investment in these commercial mortgage loans is based on expected future cash flows discounted at the current interest rate for origination of similar quality loans, adjusted for specific loan risk. These investments are classified as Level 3. Short-term borrowings: The fair value of the Company's 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 the Company 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 condensed consolidated balance sheets at September 30, 2020 and December 31, 2019 is as follows: Carrying Fair Value Value Level 1 Level 2 Level 3 Total September 30, 2020 Assets: Limited partnerships $ 7,455 $ – $ – $ 7,455 $ 7,455 Commercial mortgage loans 11,087 – – 11,707 11,707 Liabilities: Short-term borrowings 20,000 – 20,000 – 20,000 December 31, 2019 Assets: Limited partnerships $ 23,292 $ – $ – $ 23,292 $ 23,292 Commercial mortgage loans 11,782 – – 12,068 12,068 Liabilities: Short-term borrowings 20,000 – 20,000 – 20,000

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Stock-Based Compensation [Abstract]
Stock-Based Compensation	(9) Stock-Based Compensation: The Company issues shares of restricted Class B Common Stock to the Company's outside directors as part of their annual retainer compensation. The shares are distributed to the outside directors on the vesting date, which, with the exception of pro-rated annual retainers granted to outside directors, is one year following the date of grant. On May 17, 2019, the Company granted shares of restricted Class B Common Stock in connection with the election of a new outside director, reflecting such director’s pro-rated annual retainer compensation, which shares vested and were distributed on May 7, 2020. Additionally, effective May 22, 2019, John D. Nichols, Jr. ceased serving as the Company's Interim Chief Executive Officer and principal executive officer, but continued to serve as Chairman of the Company's Board of Directors. On May 22, 2019, the Company granted shares of restricted Class B Common Stock to Mr. Nichols in connection with this transition, Grant Date Number of Shares Issued Vesting Date Service Period Grant Date Fair Value Per Share 5/8/2018 19,085 5/8/2019 7/1/2018 - 6/30/2019 $ 23.05 5/7/2019 29,536 5/7/2020 7/1/2019 - 6/30/2020 $ 16.25 5/17/2019 3,591 5/7/2020 7/1/2019 - 6/30/2020 $ 16.25 5/22/2019 3,541 5/7/2020 7/1/2019 - 6/30/2020 $ 16.25 5/5/2020 42,220 5/5/2021 7/1/2020 - 6/30/2021 $ 14.21 Compensation expense related to the above stock grants is recognized over the period in which the directors render services. In March 2018, the Company's Compensation Committee, now known as the Compensation and Human Capital Committee (the "Committee"), granted equity-based awards pursuant to the Company's Long-Term Incentive Plan (the "Long-Term Incentive Plan"). Certain participants under the Long-Term Incentive Plan were granted equity awards (the "2018 LTIP Awards"), with the number of shares of Class B Common Stock earned pursuant to such awards determined by applying a performance matrix consisting of a measurement of the combined results of the Company's 2018 growth in gross premiums earned and the Company's 2018 combined ratio. The combined ratio is calculated as a ratio of (A) losses and loss expenses incurred, plus other operating expenses, less commission and other income to (B) net premiums earned. 2018 LTIP Awards were earned based on the Company's performance in 2018, and therefore no shares were issued pursuant to the 2018 LTIP Awards. I On November 13, 2018, the Company entered into an employment agreement with its Interim Chief Executive Officer, John D. Nichols, Jr. Pursuant to the terms of this employment agreement, on November 13, 2018, Mr. Nichols was granted 85,000 restricted shares of the Company's Class B Common Stock (the "Nichols Stock Grant"), of which 42,500 shares vested as of October 17, 2019; 21,250 shares vested as of October 17, 2020, and 21,250 shares will vest as of October 17, 2021. The Company incurred $131 of expense during the nine months ended September 30, 2020 related to the Nichols Stock Grant. In March 2019, the Committee granted equity-based awards pursuant to the Long-Term Incentive Plan. Certain participants under the Long-Term Incentive Plan were granted equity awards (the "2019 LTIP Awards"), with the number of shares of Class B Common Stock earned pursuant to such awards determined by applying a performance matrix consisting of a corporate performance component as well as a personal performance component. The corporate performance component of the 2019 LTIP Awards was determined based on the Company's achievement of 2019 underwriting income compared to the plan target. The Company's underwriting income was calculated as income (loss) before federal income tax expense (benefit), less net realized and unrealized gains (losses) on investments, less net investment income. The personal performance component of the 2019 LTIP Awards was determined based on the achievement of personal goals that aligned with departmental and corporate objectives for 2019. 2019 LTIP Awards earned were paid in shares of restricted Class B Common Stock in early 2020. One-third of such shares will vest annually over the period beginning one year from the date of issue. The Company incurred $ of expense during the months ended related to the 2019 LTIP Awards. On May 22, 2019, the Company entered into an employment agreement with its new Chief Executive Officer, Jeremy D. Edgecliffe-Johnson. Pursuant to the terms of this employment agreement, on May 22, 2019, Mr. Edgecliffe-Johnson was granted 70,000 restricted shares of the Company's Class B Common Stock (the "Edgecliffe-Johnson Stock Grant"), of which 35,000 shares will vest as of June 1, 2022, 21,000 shares will vest as of June 1, 2023, and 14,000 shares will vest as of June 1, 2024. The Company incurred $157 of expense during the nine months ended September 30, 2020 related to the Edgecliffe-Johnson Stock Grant. On November 5, 2019, the Board of the Company, upon the recommendation of the Committee, approved equity compensation awards to be granted to seven members of senior management as of November 12, 2019 under the Long-Term Incentive Plan. The Board approved a total of $1,100 in grants of restricted shares of the Company’s Class B Common Stock, which will vest on January 1, 2023, subject to the recipient’s continued employment with the Company through the vesting date. The Company incurred $264 of expense during the nine months ended September 30, 2020 related to this grant. On July 6, 2020, the Committee granted a total of 101,400 restricted shares of the Company's Class B Common Stock to certain members of senior management under the Long-Term Incentive Plan. These 101,400 restricted shares will vest on July 1, 2023, subject to the recipient’s continued employment with the Company through the vesting date. The Company incurred $104 of expense during the nine months ended September 30, 2020 related to this grant.

Litigation, Commitments and Con

Litigation, Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Litigation, Commitments and Contingencies [Abstract]
Litigation, Commitments and Contingencies	(10) 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, other than as noted below. Personnel Staffing Group Litigation In July 2019, Protective Insurance Company (“Protective”) was named as a defendant in an action brought by a former insured, Personnel Staffing Group d/b/a MVP Staffing (“PSG”), in the U.S. District Court for the Central District of California (the “California Action”) alleging that Protective had breached its workers’ compensation insurance policy and had breached the duties of good faith and fair dealing. Protective provided workers’ compensation insurance to PSG from January 1, 2017 through June 30, 2018, which was subject to a $500 per claim deductible to be paid by PSG. No specific damages were included in the complaint. In August 2019, Protective filed a motion to dismiss or stay the action. In August 2019, Protective filed a lawsuit against PSG in Marion County Superior Court, in Indianapolis, Indiana (the “Indiana Court”) alleging breach of contract, breach of the parties' collateral agreement, breach of the parties' indemnity agreement, and seeking a declaratory judgment regarding PSG’s obligation to fund its ongoing claim deductible obligations and adequately collateralize Protective’s current and ongoing claims exposure pursuant to terms of the parties' agreements (the “Indiana Action”). In October 2019, Protective amended the complaint to include allegations of misrepresentation as to source of coverage, negligent misrepresentation, fraud and racketeering and seeking injunctive relief. In November 2019, PSG filed a motion to dismiss the Indiana Action on the basis of comity with the California Action, claiming that California was the proper forum for Protective’s claims. In February 2020, the Indiana Court issued an order dismissing the Indiana Action without prejudice; the Indiana Court declined to rule on the legal effect of the forum selection clause in the parties’ agreements, finding that any interpretation should be addressed by the court in the California Action. On April 28, 2020, Protective’s motion to dismiss the California Action was granted without prejudice on grounds that Indiana is the more appropriate forum. On May 4, 2020, PSG filed a notice of appeal in the 9 th th Pursuant to the terms of the workers’ compensation policies, Protective has a duty to adjust and pay claims arising under the policies regardless of whether PSG makes payments to Protective for deductible obligations under the policies. Under its contractual obligations to Protective, PSG is required to maintain a “loss fund” for the payment of claims, the balance of which is to remain at or above $4,000; in addition, PSG is required to provide collateral in an amount equal to 110% of Protective’s current open case reserves on workers’ compensation claims arising under the policies. As of September 30, 2020, Protective had approximately $19,400 in receivables on claims arising under PSG’s workers’ compensation policies and had exhausted all collateral provided by PSG. Protective continues to pay claims settlements under the policies without reimbursement from PSG. For the past six months, the average monthly invoices have been approximately $786. PSG’s estimated ultimate obligation under the agreements is approximately $46,730 as of September 30, 2020 (inclusive of the $19,400 in receivables noted above). At September 30, 2020, based on the Company's assessment that PSG will continue to operate as a business and that the terms of the agreement with PSG will be legally enforceable, the Company believes that it will fully collect all current and future amounts due from PSG relating to this matter. The Company included this matter in its assessment of the impact of adopting ASU 2016-13, the new guidance for measuring CECL, which is discussed in Note 1. A probability-of-default methodology was applied to projected estimated cash flows to estimate the allowance for expected credit losses for this matter. The Company considered the delay in reimbursement for claims paid as well as probability of default assumptions when analyzing the credit loss related to this matter. As of January 1, 2020, in conjunction with the adoption of ASU 2016-13, the Company recorded an allowance for expected credit losses of $ ($ , net of tax) as a reduction to equity. During the third quarter of 2020, the Company performed an update to its CECL allowance calculation related to the PSG matter. As noted above, there have been further delays in the litigation process, which have extended the estimated cash flow timing. As a result of these delays and an increase in the estimated ultimate obligation, the Company recorded an additional allowance of $ ($ , net of tax) within other operating expenses in the condensed consolidated statement of operations for the three and nine months ended September 30, 2020. In the event of a situation that results in no recovery from PSG, the Company would incur an estimated charge to the condensed consolidated statement of operations of $ ($ , net of tax), which represents the estimated ultimate obligation discussed above less the CECL allowance.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2020
Shareholders' Equity [Abstract]
Shareholders' Equity	(11) Shareholders' Equity: On August 31, 2017, the Company's Board of Directors authorized the reinstatement of its share repurchase program for up to 2,464,209 shares of the Company's Class A or Class B Common Stock. No duration has been placed on the Company's share repurchase program, and the Company reserves the right to amend, suspend or discontinue it at any time. The share repurchase program does not commit the Company to repurchase any shares of its common stock. During the nine months ended September 30, 2020, the Company paid $1,782 to repurchase 126,764 shares of Class B Common Stock under the share repurchase program. No share repurchases have been made since March 20, 2020. The following table illustrates changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2020: Foreign Currency Unrealized Holding Gains (Losses) on Available-for-sale Securities Total Beginning balance at December 31, 2019 $ (494 ) $ 9,863 $ 9,369 Other comprehensive income (loss) before reclassifications (307 ) 4,678 4,371 Amounts reclassified from accumulated other comprehensive income (loss) – 445 445 Net current-period other comprehensive income (loss) (307 ) 5,123 4,816 Ending balance at September 30, 2020 $ (801 ) $ 14,986 $ 14,185 The following table illustrates changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2019: Foreign Currency Unrealized Holding Gains (Losses) on Available-for-sale Securities Total Beginning balance at December 31, 2018 $ (1,139 ) $ (6,208 ) $ (7,347 ) Other comprehensive income (loss) before reclassifications 402 16,588 16,990 Amounts reclassified from accumulated other comprehensive income (loss) – (49 ) (49 ) Net current-period other comprehensive income (loss) 402 16,539 16,941 Ending balance at September 30, 2019 $ (737 ) $ 10,331 $ 9,594

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2020
Related Parties [Abstract]
Related Parties	(12) Related Parties: The Company utilizes the services of an investment firm of which one director of the Company is a partial owner. This investment firm manages equity securities and fixed income portfolios held by the Company with an aggregate market value of approximately $6,805 at September 30, 2020. Total commissions and net fees earned by this investment firm and its affiliates on these portfolios were $103 and $100 for the nine months ended September 30, 2020 and 2019.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	( 13) Subsequent Events: On November 3, 2020, the Company's Board of Directors declared a regular quarterly dividend of $0.10 per share on the Company's Class A and Class B Common Stock. The dividend per share will be payable December 1, 2020 to shareholders of record on November 17, 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Summary of Significant Accounting Policies [Abstract]
Description of Business	Description of Business: The term “Insurance Subsidiaries,” as used throughout this document, refers to Protective Insurance Company, Protective Specialty Insurance Company, Sagamore Insurance Company and B&L Insurance, Ltd.
Basis of Presentation	Basis of Presentation:
Investments	Investments : Commercial mortgage loans are carried primarily at amortized cost along with an allowance for losses when necessary. These investments represent interests in commercial mortgage loans originated and serviced by a third party of which the Company shares, on a pro-rata basis, in all related cash flows of the underlying mortgage loans. The Company recorded an allowance of $195 on its commercial mortgage loans as of September 30, 2020 in conjunction with the adoption of the new credit losses accounting standard discussed below. 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 the limited partnerships 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 condensed consolidated statements of operations, its proportionate share of the investee's unrealized, as well as realized, investment gains or losses within net unrealized gains (losses) on equity securities and limited partnership investments. Short-term and other investments are carried at cost, which approximates their fair values. Fixed income securities are considered to be available-for-sale. The related unrealized net gains or losses (net of applicable tax effects) on fixed income securities are reflected directly in other comprehensive income (loss) within shareholders' equity. Included within available-for-sale fixed income securities are convertible debt securities. A portion of the changes in the fair values of convertible debt securities is reflected as a component of net realized gains (losses) on investments, excluding impairment losses within the condensed consolidated statements of operations. Realized gains and losses on disposals of fixed income securities are recorded on the trade date. Realized gains and losses on fixed income securities are determined by the specific identification of the cost of investments sold and are included in net realized gains (losses) on investments, excluding impairment losses.
Recognition of Revenue and Costs	Recognition of Revenue and Costs: condensed The following accounting policies have been updated effective January 1, 2020 to reflect the Company's adoption of Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, or ASU 2016-13, as described below.
Investment Impairments	Investment Impairments: For a fixed income security that the Company does not intend to sell or in cases where it is more likely than not that the Company will not have to sell the security, the Company separates the credit loss component of the impairment from the amount related to all other factors and reports the credit loss component within net realized gains (losses) on investments, excluding impairment losses in the condensed consolidated statements of operations. The impairment related to all other factors (non-credit factors) is reported in other comprehensive income (loss). The allowance is adjusted for any additional credit losses and subsequent recoveries. Upon recognizing a credit loss, the cost basis is not adjusted. The Company considers the extent to which fair value is below amortized cost in determining whether a credit-related loss exists. The Company also considers the credit quality rating of the security, focusing on those below investment grade, with emphasis on securities downgraded below investment grade. Additionally, the Company may conclude that a qualitative analysis is sufficient to support its conclusion that the present value of the expected cash flows equals or exceeds a security’s amortized cost. The Company reports investment income due and accrued separately from available-for-sale fixed income securities and has elected not to measure an allowance for credit losses for investment income due and accrued. Investment income due and accrued is written off through at the time the issuer defaults or is expected to default on payments.
Deductible Receivables	Deductible Receivables :
Recently Adopted and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements: condensed condensed In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13. ASU 2016-13 introduced a current expected credit loss ("CECL") model for measuring expected credit losses for certain types of financial instruments held at the reporting date requiring significant judgment in application based on historical experience, current conditions and reasonable supportable forecasts, but is not prescriptive about certain aspects of estimating expected losses. The guidance replaced the current incurred loss model for measuring expected credit losses and provided for additional disclosure requirements. Subsequently, the FASB issued additional ASUs on Topic 326 that did not change the core principle of the guidance in ASU 2016-13, but provided clarification and implementation guidance on certain aspects of ASU 2016-13, and had the same effective date and transition requirements as ASU 2016-13. The Company adopted the guidance recognized a cumulative effect adjustment of $ ($ , net of tax), The updated guidance in ASU 2016-13 also amended the previous other-than-temporary impairment ("OTTI") model for available-for-sale fixed income securities by requiring the recognition of impairments relating to credit losses through an allowance account and limits the amount of credit loss to the difference between a security’s amortized cost basis and its fair value. In addition, the length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. The Company adopted the guidance related to available-for-sale fixed income securities on January 1, 2020 using a prospective transition approach for available-for-sale fixed income securities that were purchased with credit deterioration or had recognized an OTTI write-down prior to the effective date. The effect of the prospective transition approach was to maintain the same amortized cost basis before and after the effective date. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, or ASU 2018-13. This update removed the disclosure requirements for the amounts of and the reasons for transfers between Level 1 and Level 2 and disclosure of the policy for timing of transfers between levels. This update also removed disclosure requirements for the valuation processes for Level 3 fair value measurements. Additionally, this update added disclosure requirements for the changes in unrealized gains and losses for recurring Level 3 fair value measurements and quantitative information for certain unobservable inputs in Level 3 fair value measurements. The Company adopted ASU 2018-13 as of January 1, 2020. As the requirements of this guidance are applicable to disclosure only, the adoption of ASU 2018-13 had no material impact on the Company's condensed consolidated financial statements. Recently Issued Accounting Pronouncements: In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, or ASU 2019-12. Among other items, the amendments in ASU 2019-12 simplify the accounting treatment of tax law changes and year-to-date losses in interim periods. An entity generally recognizes the effects of a change in tax law in the period of enactment; however, there is an exception for tax laws with delayed effective dates. Under current guidance, an entity may not adjust its annual effective tax rate for a tax law change until the period in which the law is effective. This exception was removed under ASU 2019-12, thereby providing that all effects of a tax law change are recognized in the period of enactment, including adjustment of the estimated annual effective tax rate. Regarding year-to-date losses in interim periods, an entity is required to estimate its annual effective tax rate for the full fiscal year at the end of each interim period and use that rate to calculate its income taxes on a year-to-date basis. However, current guidance provides an exception that when a loss in an interim period exceeds the anticipated loss for the year, the income tax benefit is limited to the amount that would be recognized if the year-to-date loss were the anticipated loss for the full year. ASU 2019-12 removes this exception and provides that in this situation, an entity would compute its income tax benefit at each interim period based on its estimated annual effective tax rate. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods within those annual periods. Early adoption is permitted.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Available-for-Sale Securities	The following is a summary of available-for-sale securities at September 30, 2020 and December 31, 2019: Fair Value Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Net Unrealized Gains (Losses) September 30, 2020 Fixed income securities Agency collateralized mortgage obligations $ 10,106 $ 9,992 $ 401 $ (287 ) $ 114 Agency mortgage-backed securities 98,651 95,597 3,079 (25 ) 3,054 Asset-backed securities 102,193 104,985 579 (3,371 ) (2,792 ) Bank loans 8,580 9,605 – (1,025 ) (1,025 ) Certificates of deposit 520 520 – – – Collateralized mortgage obligations 6,034 6,167 56 (189 ) (133 ) Corporate securities 324,116 310,689 14,579 (1,152 ) 13,427 Mortgage-backed securities 43,233 47,780 1,051 (5,598 ) (4,547 ) Municipal obligations 43,920 42,266 1,694 (40 ) 1,654 Non-U.S. government obligations 29,718 28,896 822 – 822 U.S. government obligations 184,866 176,464 8,422 (20 ) 8,402 Total fixed income securities $ 851,937 $ 832,961 $ 30,683 $ (11,707 ) $ 18,976 Fair Value Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Net Unrealized Gains (Losses) December 31, 2019 Fixed income securities Agency collateralized mortgage obligations $ 12,093 $ 11,557 $ 536 $ – $ 536 Agency mortgage-backed securities 56,280 54,286 2,005 (11 ) 1,994 Asset-backed securities 106,397 107,028 499 (1,130 ) (631 ) Bank loans 14,568 14,932 106 (470 ) (364 ) Certificates of deposit 2,835 2,835 – – – Collateralized mortgage obligations 5,616 5,123 493 – 493 Corporate securities 281,381 274,340 7,492 (451 ) 7,041 Mortgage-backed securities 47,463 46,685 1,047 (269 ) 778 Municipal obligations 36,286 35,749 684 (147 ) 537 Non-U.S. government obligations 24,179 23,889 290 – 290 U.S. government obligations 208,440 206,623 2,891 (1,074 ) 1,817 Total fixed income securities $ 795,538 $ 783,047 $ 16,043 $ (3,552 ) $ 12,491
Fixed Maturity and Equity Security Investments in Unrealized Loss Position	The following table summarizes, for available-for-sale fixed income securities in an unrealized loss position at September 30, 2020 and December 31, 2019, the aggregate fair value and gross unrealized loss categorized by the duration individual securities have been continuously in an unrealized loss position. September 30, 2020 December 31, 2019 Number of Securities Fair Value Gross Unrealized Loss Number of Securities Fair Value Gross Unrealized Loss Fixed income securities: 12 months or less 155 $ 149,489 $ (8,214 ) 88 $ 108,387 $ (2,452 ) Greater than 12 months 25 28,495 (3,493 ) 69 66,860 (1,100 ) Total fixed income securities 180 $ 177,984 $ (11,707 ) 157 $ 175,247 $ (3,552 )
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 income investments at September 30, 2020, organized 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 $ 92,882 $ 92,080 Excess of one year to five years 337,419 324,886 Excess of five years to ten years 144,672 135,091 Excess of ten years 22,781 22,550 Contractual maturities 597,754 574,607 Asset-backed securities 254,183 258,354 Total $ 851,937 $ 832,961
Net Realized and Unrealized Gains (Losses) on Investments	Following is a summary of the components of net realized and unrealized gains (losses) on investments for the periods presented in the accompanying condensed consolidated statements of operations. Three Months Ended September 30 Nine Months Ended September 30 2020 2019 2020 2019 Gross gains on available-for-sale fixed income securities sold during the period $ 2,875 $ 2,407 $ 8,088 $ 9,710 Gross losses on available-for-sale fixed income securities sold during the period (2,662 ) (2,728 ) (7,552 ) (9,409 ) Impairment losses on investments (588 ) (58 ) (1,046 ) (404 ) Change in value of limited partnership investments 62 278 (1,201 ) 1,000 Gains on equity securities: Realized gains (losses) on equity securities sold during the period (252 ) 1,520 (9,460 ) 1,571 Unrealized gains (losses) on equity securities held at the end of the period 709 (1,294 ) (5,825 ) 6,573 Realized and unrealized gains (losses) on equity securities during the period 457 226 (15,285 ) 8,144 Net realized and unrealized gains (losses) on investments $ 144 $ 125 $ (16,996 ) $ 9,041

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2020
Reinsurance [Abstract]
Reinsurance	The following table summarizes the Company's transactions with reinsurers for the three and nine months ended September 30, 2020 and 2019 comparative periods. 2020 2019 Three months ended September 30: Premiums ceded to reinsurers $ 26,825 $ 29,957 Losses and loss expenses ceded to reinsurers 27,270 27,228 Commissions from reinsurers 7,206 7,820 2020 2019 Nine months ended September 30: Premiums ceded to reinsurers $ 83,508 $ 92,556 Losses and loss expenses ceded to reinsurers 75,201 86,876 Commissions from reinsurers 21,785 23,229

Loss and Loss Expense Reserves

Loss and Loss Expense Reserves (Tables)	9 Months Ended
	Sep. 30, 2020
Loss and Loss Expense Reserves [Abstract]
Activity in Reserves for Losses and Loss Expenses	Activity in the reserves for losses and loss expenses for the nine months ended September 30, 2020 and 2019 is summarized as follows. All amounts are shown net of reinsurance, unless otherwise indicated. Nine Months Ended September 30 2020 2019 Reserves, gross of reinsurance recoverable, at the beginning of the year $ 988,305 $ 865,339 Reinsurance recoverable on unpaid losses at the beginning of the year 398,305 375,935 Reserves at the beginning of the year 590,000 489,404 Provision for losses and loss expenses: Claims occurring during the current period 234,718 263,925 Claims occurring during prior periods (5 ) (1,589 ) Total incurred 234,713 262,336 Loss and loss expense payments: Claims occurring during the current period 47,852 53,836 Claims occurring during prior periods 136,231 133,196 Total paid 184,083 187,032 Reserves at the end of the period 640,630 564,708 Reinsurance recoverable on unpaid losses at the end of the period 413,827 395,987 Reserves, gross of reinsurance recoverable, at the end of the period $ 1,054,457 $ 960,695

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Information [Abstract]
Segment Revenues	The following table summarizes segment revenues for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30 Nine Months Ended September 30 2020 2019 2020 2019 Revenues: Net premiums earned $ 117,853 $ 110,288 $ 325,242 $ 335,931 Net investment income 5,486 6,703 19,102 19,434 Net realized and unrealized gains (losses) on investments 144 125 (16,996 ) 9,041 Commissions and other income 1,469 2,716 5,020 6,761 Total revenues $ 124,952 $ 119,832 $ 332,368 $ 371,167

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value [Abstract]
Fair Value Measurements by Level for Assets Measured at Fair Value on Recurring Basis	Assets and liabilities recorded at fair value in the condensed 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, 2020: Description Total Level 1 Level 2 Level 3 Fixed income securities: Agency collateralized mortgage obligations $ 10,106 $ – $ 10,106 $ – Agency mortgage-backed securities 98,651 – 98,651 – Asset-backed securities 102,193 – 102,193 – Bank loans 8,580 – 8,580 – Certificates of deposit 520 520 – – Collateralized mortgage obligations 6,034 – 6,034 – Corporate securities 318,874 – 318,874 – Options embedded in convertible securities 5,242 – 5,242 – Mortgage-backed securities 43,233 – 43,233 – Municipal obligations 43,920 – 43,920 – Non-U.S. government obligations 29,718 – 29,718 – U.S. government obligations 184,866 – 184,866 – Total fixed income securities 851,937 520 851,417 – Equity securities: Consumer 11,220 11,220 – – Energy 1,059 1,059 – – Financial 22,357 22,357 – – Industrial 4,072 4,072 – – Technology 2,481 2,481 – – Funds (e.g., mutual funds, closed end funds, ETFs) – – – – Other 7,228 7,228 – – Total equity securities 48,417 48,417 – – Short-term investments 1,000 1,000 – – Cash equivalents 78,401 – 78,401 – Total $ 979,755 $ 49,937 $ 929,818 $ – As of December 31, 2019: Description Total Level 1 Level 2 Level 3 Fixed income securities: Agency collateralized mortgage obligations $ 12,093 $ – $ 12,093 $ – Agency mortgage-backed securities 56,280 – 56,280 – Asset-backed securities 106,397 – 106,397 – Bank loans 14,568 – 14,568 – Certificates of deposit 2,835 2,835 – – Collateralized mortgage obligations 5,616 – 5,616 – Corporate securities 276,087 – 276,087 – Options embedded in convertible securities 5,294 – 5,294 – Mortgage-backed securities 47,463 – 47,463 – Municipal obligations 36,286 – 36,286 – Non-U.S. government obligations 24,179 – 24,179 – U.S. government obligations 208,440 – 208,440 – Total fixed income securities 795,538 2,835 792,703 – Equity securities: Consumer 16,707 16,707 – – Energy 3,074 3,074 – – Financial 31,577 31,577 – – Industrial 4,927 4,927 – – Technology 2,817 2,817 – – Funds (e.g., mutual funds, closed end funds, ETFs) 9,460 9,460 – – Other 8,250 8,250 – – Total equity securities 76,812 76,812 – – Short-term investments 1,000 1,000 – – Cash equivalents 59,780 – 59,780 – Total $ 933,130 $ 80,647 $ 852,483 $ –
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 condensed consolidated balance sheets at September 30, 2020 and December 31, 2019 is as follows: Carrying Fair Value Value Level 1 Level 2 Level 3 Total September 30, 2020 Assets: Limited partnerships $ 7,455 $ – $ – $ 7,455 $ 7,455 Commercial mortgage loans 11,087 – – 11,707 11,707 Liabilities: Short-term borrowings 20,000 – 20,000 – 20,000 December 31, 2019 Assets: Limited partnerships $ 23,292 $ – $ – $ 23,292 $ 23,292 Commercial mortgage loans 11,782 – – 12,068 12,068 Liabilities: Short-term borrowings 20,000 – 20,000 – 20,000

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Stock-Based Compensation [Abstract]
Detail of Restricted Stock Issuances	The Company issues shares of restricted Class B Common Stock to the Company's outside directors as part of their annual retainer compensation. The shares are distributed to the outside directors on the vesting date, which, with the exception of pro-rated annual retainers granted to outside directors, is one year following the date of grant. On May 17, 2019, the Company granted shares of restricted Class B Common Stock in connection with the election of a new outside director, reflecting such director’s pro-rated annual retainer compensation, which shares vested and were distributed on May 7, 2020. Additionally, effective May 22, 2019, John D. Nichols, Jr. ceased serving as the Company's Interim Chief Executive Officer and principal executive officer, but continued to serve as Chairman of the Company's Board of Directors. On May 22, 2019, the Company granted shares of restricted Class B Common Stock to Mr. Nichols in connection with this transition, Grant Date Number of Shares Issued Vesting Date Service Period Grant Date Fair Value Per Share 5/8/2018 19,085 5/8/2019 7/1/2018 - 6/30/2019 $ 23.05 5/7/2019 29,536 5/7/2020 7/1/2019 - 6/30/2020 $ 16.25 5/17/2019 3,591 5/7/2020 7/1/2019 - 6/30/2020 $ 16.25 5/22/2019 3,541 5/7/2020 7/1/2019 - 6/30/2020 $ 16.25 5/5/2020 42,220 5/5/2021 7/1/2020 - 6/30/2021 $ 14.21

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Shareholders' Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss) by Component	The following table illustrates changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2020: Foreign Currency Unrealized Holding Gains (Losses) on Available-for-sale Securities Total Beginning balance at December 31, 2019 $ (494 ) $ 9,863 $ 9,369 Other comprehensive income (loss) before reclassifications (307 ) 4,678 4,371 Amounts reclassified from accumulated other comprehensive income (loss) – 445 445 Net current-period other comprehensive income (loss) (307 ) 5,123 4,816 Ending balance at September 30, 2020 $ (801 ) $ 14,986 $ 14,185 The following table illustrates changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2019: Foreign Currency Unrealized Holding Gains (Losses) on Available-for-sale Securities Total Beginning balance at December 31, 2018 $ (1,139 ) $ (6,208 ) $ (7,347 ) Other comprehensive income (loss) before reclassifications 402 16,588 16,990 Amounts reclassified from accumulated other comprehensive income (loss) – (49 ) (49 ) Net current-period other comprehensive income (loss) 402 16,539 16,941 Ending balance at September 30, 2019 $ (737 ) $ 10,331 $ 9,594

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)Segment	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Description of Business [Abstract]
Number of reportable segments | Segment	1
Recently Adopted Accounting Pronouncements [Abstract]
Cumulative effect adjustment to opening balance of retained earnings, net of tax	$ (344,664)	$ (336,038)	$ (364,316)	$ (363,430)	$ (367,416)	$ (356,082)
ASU 2016-02 [Member]
Recently Adopted Accounting Pronouncements [Abstract]
Right-of-use asset	145
Lease liability	145
ASU 2016-13 [Member]
Deductible Receivables [Abstract]
Allowance for credit losses, before tax	16,500		15,000
Allowance for credit losses, net of tax	13,035		11,850
Commercial Mortgage Loans [Member]
Investments [Abstract]
Allowance for credit loss	195
Retained Earnings [Member]
Recently Adopted Accounting Pronouncements [Abstract]
Cumulative effect adjustment to opening balance of retained earnings, net of tax	$ (275,710)	$ (273,846)	(300,988)	$ (299,553)	$ (304,513)	$ (308,075)
Retained Earnings [Member] | ASU 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Recently Adopted Accounting Pronouncements [Abstract]
Cumulative effect adjustment to opening balance of retained earnings, before tax			15,545
Cumulative effect adjustment to opening balance of retained earnings, net of tax			$ 12,281

Investments, Summary of Availab

Investments, Summary of Available-for-sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Available-for-sale Debt Securities [Abstract]
Fair value	$ 851,937	$ 795,538
Cost or amortized cost	832,961	783,047
Gross unrealized gains	30,683	16,043
Gross unrealized losses	(11,707)	(3,552)
Net unrealized gains (losses)	18,976	12,491
Agency Collateralized Mortgage Obligations [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	10,106	12,093
Cost or amortized cost	9,992	11,557
Gross unrealized gains	401	536
Gross unrealized losses	(287)	0
Net unrealized gains (losses)	114	536
Agency Mortgage-backed Securities [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	98,651	56,280
Cost or amortized cost	95,597	54,286
Gross unrealized gains	3,079	2,005
Gross unrealized losses	(25)	(11)
Net unrealized gains (losses)	3,054	1,994
Asset-backed Securities [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	102,193	106,397
Cost or amortized cost	104,985	107,028
Gross unrealized gains	579	499
Gross unrealized losses	(3,371)	(1,130)
Net unrealized gains (losses)	(2,792)	(631)
Bank Loans [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	8,580	14,568
Cost or amortized cost	9,605	14,932
Gross unrealized gains	0	106
Gross unrealized losses	(1,025)	(470)
Net unrealized gains (losses)	(1,025)	(364)
Certificates of Deposit [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	520	2,835
Cost or amortized cost	520	2,835
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Net unrealized gains (losses)	0	0
Collateralized Mortgage Obligations [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	6,034	5,616
Cost or amortized cost	6,167	5,123
Gross unrealized gains	56	493
Gross unrealized losses	(189)	0
Net unrealized gains (losses)	(133)	493
Corporate Securities [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	324,116	281,381
Cost or amortized cost	310,689	274,340
Gross unrealized gains	14,579	7,492
Gross unrealized losses	(1,152)	(451)
Net unrealized gains (losses)	13,427	7,041
Mortgage-backed Securities [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	43,233	47,463
Cost or amortized cost	47,780	46,685
Gross unrealized gains	1,051	1,047
Gross unrealized losses	(5,598)	(269)
Net unrealized gains (losses)	(4,547)	778
Municipal Obligations [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	43,920	36,286
Cost or amortized cost	42,266	35,749
Gross unrealized gains	1,694	684
Gross unrealized losses	(40)	(147)
Net unrealized gains (losses)	1,654	537
Non-U.S. Government Obligations [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	29,718	24,179
Cost or amortized cost	28,896	23,889
Gross unrealized gains	822	290
Gross unrealized losses	0	0
Net unrealized gains (losses)	822	290
U.S. Government Obligations [Member]
Available-for-sale Debt Securities [Abstract]
Fair value	184,866	208,440
Cost or amortized cost	176,464	206,623
Gross unrealized gains	8,422	2,891
Gross unrealized losses	(20)	(1,074)
Net unrealized gains (losses)	$ 8,402	$ 1,817

Investments, Continuous Unreali

Investments, Continuous Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2020USD ($)Secutrity	Dec. 31, 2019USD ($)Secutrity
Available-for-sale Securities Continuous Unrealized Loss Positions [Abstract]
Number of securities, 12 months or less | Secutrity	155	88
Number of securities, Greater than 12 months | Secutrity	25	69
Number of securities, total | Secutrity	180	157
Available-for-sale Securities Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair value, 12 months or less	$ 149,489	$ 108,387
Fair value, Greater than 12 months	28,495	66,860
Fair value, total	177,984	175,247
Available-for-sale Securities Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Gross unrealized loss, 12 months or less	(8,214)	(2,452)
Gross unrealized loss, Greater than 12 months	(3,493)	(1,100)
Gross unrealized loss, total	(11,707)	(3,552)
Available-for-sale Securities Debt Maturities Fair Value [Abstract]
One year or less, Fair Value	92,882
Excess of one year to five years, Fair Value	337,419
Excess of five years to ten years, Fair Value	144,672
Excess of ten years, Fair Value	22,781
Total contractual maturities, Fair Value	597,754
Asset-backed securities, Fair Value	254,183
Total, Fair Value	851,937	795,538
Available-for-sale Securities Debt Maturities Amortized Cost Basis [Abstract]
One year or less, Cost or Amortized Cost	92,080
Excess of one year to five years, Cost or Amortized Cost	324,886
Excess of five years to ten years, Cost or Amortized Cost	135,091
Excess of ten years, Cost or Amortized Cost	22,550
Total contractual maturities, Cost or Amortized Cost	574,607
Asset-backed securities, Cost or Amortized Cost	258,354
Cost or amortized cost	$ 832,961	$ 783,047

Investments, Net Realized and U

Investments, Net Realized and Unrealized Gains (Losses) on Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Components of net realized and unrealized gains (losses) on investments [Abstract]
Gross gains on available-for-sale fixed income securities during the period	$ 2,875	$ 2,407	$ 8,088	$ 9,710
Gross losses on available-for-sale fixed income securities sold during the period	(2,662)	(2,728)	(7,552)	(9,409)
Impairment losses on investments	(588)	(58)	(1,046)	(404)
Change in value of limited partnership investments	62	278	(1,201)	1,000
Gains on equity securities [Abstract]
Realized gains (losses) on equity securities sold during the period	(252)	1,520	(9,460)	1,571
Unrealized gains (losses) on equity securities held at the end of the period	709	(1,294)	(5,825)	6,573
Realized and unrealized gains (losses) on equity securities during the period	457	226	(15,285)	8,144
Net realized and unrealized gains (losses) on investments	144	$ 125	(16,996)	$ 9,041
Recorded write down to earnings	$ 588		1,046
Undistributed earnings, net of tax			$ 4,038

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reinsurance [Abstract]
Premiums ceded to reinsurers	$ 26,825	$ 29,957	$ 83,508	$ 92,556
Losses and loss expenses ceded to reinsurers	27,270	27,228	75,201	86,876
Commissions from reinsurers	$ 7,206	$ 7,820	$ 21,785	$ 23,229

Loss and Loss Expense Reserve_2

Loss and Loss Expense Reserves (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Activity in the reserve for losses and loss expenses [Roll Forward]
Reserves, gross of reinsurance recoverable, at the beginning of the year	$ 988,305	$ 865,339
Reinsurance recoverable on unpaid losses at the beginning of the year	398,305	375,935
Reserves at the beginning of the year	590,000	489,404
Provision for losses and loss expenses [Abstract]
Claims occurring during the current period	234,718	263,925
Claims occurring during prior periods	(5)	(1,589)
Total incurred	234,713	262,336
Loss and loss expense payments [Abstract]
Claims occurring during the current period	47,852	53,836
Claims occurring during prior periods	136,231	133,196
Total paid	184,083	187,032
Reserves at the end of the period	640,630	564,708
Reinsurance recoverable on unpaid losses at the end of the period	413,827	395,987
Reserves, gross of reinsurance recoverable, at the end of the period	$ 1,054,457	$ 960,695

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Segment	Sep. 30, 2019USD ($)
Segment Information [Abstract]
Number of reportable segments | Segment			1
Summary of Segment Revenue [Abstract]
Net premiums earned	$ 117,853	$ 110,288	$ 325,242	$ 335,931
Net investment income	5,486	6,703	19,102	19,434
Net realized and unrealized gains (losses) on investments	144	125	(16,996)	9,041
Commissions and other income	1,469	2,716	5,020	6,761
Total revenues	124,952	119,832	332,368	371,167
Property and Casualty Insurance [Member]
Summary of Segment Revenue [Abstract]
Net premiums earned	117,853	110,288	325,242	335,931
Net investment income	5,486	6,703	19,102	19,434
Net realized and unrealized gains (losses) on investments	144	125	(16,996)	9,041
Commissions and other income	1,469	2,716	5,020	6,761
Total revenues	$ 124,952	$ 119,832	$ 332,368	$ 371,167

Debt (Details)

Debt (Details) - Revolving Credit Facility [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)Covenant	Aug. 09, 2018USD ($)
Credit Agreement [Abstract]
Maximum credit limit		$ 40,000
Additional incremental loans limit		$ 35,000
Expiration date	Aug. 9, 2022
Optional period of fixed interest	1 year
Outstanding drawings	$ 20,000
Effective interest rate	1.26%
Amount remaining under credit facility	$ 20,000
Number of financial covenants | Covenant	2
Net worth and maximum consolidated leverage ratio	0.35

Taxes (Details)

Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Taxes [Abstract]
Effective federal tax rate on consolidated loss	1.40%	30.60%	1.30%	19.60%
Valuation allowance	$ 1,535		$ 1,535		$ 2,388
Valuation allowance recorded in statement of operations	$ 641
Reduction in valuation allowance			$ (853)

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fixed income securities [Abstract]
Total fixed income securities	$ 851,937	$ 795,538
Equity securities [Abstract]
Total equity securities	48,417	76,812
Recurring [Member]
Fixed income securities [Abstract]
Agency collateralized mortgage obligations	10,106	12,093
Agency mortgage-backed securities	98,651	56,280
Asset-backed securities	102,193	106,397
Bank loans	8,580	14,568
Certificates of deposit	520	2,835
Collateralized mortgage obligations	6,034	5,616
Corporate securities	318,874	276,087
Options embedded in convertible securities	5,242	5,294
Mortgage-backed securities	43,233	47,463
Municipal obligations	43,920	36,286
Non-U.S. government obligations	29,718	24,179
U.S. government obligations	184,866	208,440
Total fixed income securities	851,937	795,538
Equity securities [Abstract]
Consumer	11,220	16,707
Energy	1,059	3,074
Financial	22,357	31,577
Industrial	4,072	4,927
Technology	2,481	2,817
Funds (e.g., mutual funds, closed end funds, ETFs)	0	9,460
Other	7,228	8,250
Total equity securities	48,417	76,812
Short-term investments	1,000	1,000
Cash equivalents	78,401	59,780
Total	979,755	933,130
Recurring [Member] | Level 1 [Member]
Fixed income securities [Abstract]
Agency collateralized mortgage obligations	0	0
Agency mortgage-backed securities	0	0
Asset-backed securities	0	0
Bank loans	0	0
Certificates of deposit	520	2,835
Collateralized mortgage obligations	0	0
Corporate securities	0	0
Options embedded in convertible securities	0	0
Mortgage-backed securities	0	0
Municipal obligations	0	0
Non-U.S. government obligations	0	0
U.S. government obligations	0	0
Total fixed income securities	520	2,835
Equity securities [Abstract]
Consumer	11,220	16,707
Energy	1,059	3,074
Financial	22,357	31,577
Industrial	4,072	4,927
Technology	2,481	2,817
Funds (e.g., mutual funds, closed end funds, ETFs)	0	9,460
Other	7,228	8,250
Total equity securities	48,417	76,812
Short-term investments	1,000	1,000
Cash equivalents	0	0
Total	49,937	80,647
Recurring [Member] | Level 2 [Member]
Fixed income securities [Abstract]
Agency collateralized mortgage obligations	10,106	12,093
Agency mortgage-backed securities	98,651	56,280
Asset-backed securities	102,193	106,397
Bank loans	8,580	14,568
Certificates of deposit	0	0
Collateralized mortgage obligations	6,034	5,616
Corporate securities	318,874	276,087
Options embedded in convertible securities	5,242	5,294
Mortgage-backed securities	43,233	47,463
Municipal obligations	43,920	36,286
Non-U.S. government obligations	29,718	24,179
U.S. government obligations	184,866	208,440
Total fixed income securities	851,417	792,703
Equity securities [Abstract]
Consumer	0	0
Energy	0	0
Financial	0	0
Industrial	0	0
Technology	0	0
Funds (e.g., mutual funds, closed end funds, ETFs)	0	0
Other	0	0
Total equity securities	0	0
Short-term investments	0	0
Cash equivalents	78,401	59,780
Total	929,818	852,483
Recurring [Member] | Level 3 [Member]
Fixed income securities [Abstract]
Agency collateralized mortgage obligations	0	0
Agency mortgage-backed securities	0	0
Asset-backed securities	0	0
Bank loans	0	0
Certificates of deposit	0	0
Collateralized mortgage obligations	0	0
Corporate securities	0	0
Options embedded in convertible securities	0	0
Mortgage-backed securities	0	0
Municipal obligations	0	0
Non-U.S. government obligations	0	0
U.S. government obligations	0	0
Total fixed income securities	0	0
Equity securities [Abstract]
Consumer	0	0
Energy	0	0
Financial	0	0
Industrial	0	0
Technology	0	0
Funds (e.g., mutual funds, closed end funds, ETFs)	0	0
Other	0	0
Total equity securities	0	0
Short-term investments	0	0
Cash equivalents	0	0
Total	$ 0	$ 0

Fair Value, Balance Sheet Group

Fair Value, Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets [Abstract]
Limited partnerships	$ 7,455	$ 23,292
Carrying Value [Member]
Assets [Abstract]
Limited partnerships	7,455	23,292
Commercial mortgage loans	11,087	11,782
Liabilities [Abstract]
Short-term borrowings	20,000	20,000
Fair Value [Member]
Assets [Abstract]
Limited partnerships	7,455	23,292
Commercial mortgage loans	11,707	12,068
Liabilities [Abstract]
Short-term borrowings	20,000	20,000
Fair Value [Member] | Level 1 [Member]
Assets [Abstract]
Limited partnerships	0	0
Commercial mortgage loans	0	0
Liabilities [Abstract]
Short-term borrowings	0	0
Fair Value [Member] | Level 2 [Member]
Assets [Abstract]
Limited partnerships	0	0
Commercial mortgage loans	0	0
Liabilities [Abstract]
Short-term borrowings	20,000	20,000
Fair Value [Member] | Level 3 [Member]
Assets [Abstract]
Limited partnerships	7,455	23,292
Commercial mortgage loans	11,707	12,068
Liabilities [Abstract]
Short-term borrowings	$ 0	$ 0

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands	Jul. 06, 2020shares	Nov. 05, 2019USD ($)Manager	May 22, 2019shares	Nov. 13, 2018shares	Sep. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2018shares
Stock Based Compensation [Abstract]
Shares distribution period from grant date					1 year
5/8/2018 [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)					19,085
Vesting date					May 8, 2019
Service period, beginning					Jul. 1, 2018
Service period, ending					Jun. 30, 2019
Grant date fair value per share (in dollars per share) | $ / shares					$ 23.05
5/7/2019 [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)					29,536
Vesting date					May 7, 2020
Service period, beginning					Jul. 1, 2019
Service period, ending					Jun. 30, 2020
Grant date fair value per share (in dollars per share) | $ / shares					$ 16.25
5/17/2019 [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)					3,591
Vesting date					May 7, 2020
Service period, beginning					Jul. 1, 2019
Service period, ending					Jun. 30, 2020
Grant date fair value per share (in dollars per share) | $ / shares					$ 16.25
5/22/2019 [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)					3,541
Vesting date					May 7, 2020
Service period, beginning					Jul. 1, 2019
Service period, ending					Jun. 30, 2020
Grant date fair value per share (in dollars per share) | $ / shares					$ 16.25
5/5/2020 [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)					42,220
Vesting date					May 5, 2021
Service period, beginning					Jul. 1, 2020
Service period, ending					Jun. 30, 2021
Grant date fair value per share (in dollars per share) | $ / shares					$ 14.21
Restricted [Member] | John D. Nichols, Jr. [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)				85,000
Restricted [Member] | John D. Nichols, Jr. [Member] | Tranche One [Member]
Summary of stock Issuances [Abstract]
Number of shares vested and expected to vest (in shares)				42,500
Stock based compensation expense | $					$ 131
Restricted [Member] | John D. Nichols, Jr. [Member] | Tranche Two [Member]
Summary of stock Issuances [Abstract]
Number of shares vested and expected to vest (in shares)				21,250
Restricted [Member] | John D. Nichols, Jr. [Member] | Tranche Three [Member]
Summary of stock Issuances [Abstract]
Number of shares vested and expected to vest (in shares)				21,250
Restricted [Member] | Edgecliffe-Johnson Stock Grant [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)			70,000
Stock based compensation expense | $					157
Restricted [Member] | Edgecliffe-Johnson Stock Grant [Member] | Tranche One [Member]
Summary of stock Issuances [Abstract]
Number of shares vested and expected to vest (in shares)			35,000
Restricted [Member] | Edgecliffe-Johnson Stock Grant [Member] | Tranche Two [Member]
Summary of stock Issuances [Abstract]
Number of shares vested and expected to vest (in shares)			21,000
Restricted [Member] | Edgecliffe-Johnson Stock Grant [Member] | Tranche Three [Member]
Summary of stock Issuances [Abstract]
Number of shares vested and expected to vest (in shares)			14,000
Restricted [Member] | Senior Management [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)	101,400
Shares granted in period | $		$ 1,100
Stock based compensation expense | $					264
Number of members awarded equity compensation | Manager		7
Restricted [Member] | Senior Management [Member] | 7/6/2020 [Member]
Summary of stock Issuances [Abstract]
Stock based compensation expense | $					$ 104
2018 LTIP Awards [Member] | Performance Based Equity Award [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)						0
2018 VCIP Awards [Member] | Performance Based Equity Award [Member]
Summary of stock Issuances [Abstract]
Number of shares issued (in shares)					0
Performance period					3 years
Vesting period					3 years
2019 LTIP Awards [Member] | Performance Based Equity Award [Member]
Summary of stock Issuances [Abstract]
Stock based compensation expense | $					$ 75
Annual vesting percentage of shares in year one					33.30%
Annual vesting percentage of shares in year two					33.30%
Annual vesting percentage of shares in year three					33.30%

Litigation, Commitments and C_2

Litigation, Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Loss Contingency [Abstract]
Estimated recoverable amount	$ 429,544	$ 429,544	$ 432,067
ASU 2016-13 [Member]
Loss Contingency [Abstract]
Allowance for credit losses, before tax	16,500	16,500	15,000
Allowance for credit losses, net of tax	13,035	13,035	11,850
Allowance For Doubtful Accounts Receivable Period Increase Decrease, Before Tax	1,500	1,500
Additional allowance for expected credit losses, net of tax	$ 1,185	1,185
Charge incurred to operations, gross			30,230
Charge incurred to operations, net of tax			$ 23,882
Personnel Staffing Group d/b/a MVP Staffing [Member]
Loss Contingency [Abstract]
Per claim deductible amount		500
Damages sought		$ 0
Percentage of required collateral	110.00%	110.00%
Deductible receivables	$ 19,400	$ 19,400
Average monthly deductible invoices		786
Estimated recoverable amount	46,730	46,730
Personnel Staffing Group d/b/a MVP Staffing [Member] | Minimum [Member]
Loss Contingency [Abstract]
Loss fund	$ 4,000	$ 4,000

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Stock Repurchase Program [Abstract]
Stock repurchase program, shares authorized (in shares)	2,464,209
Repurchase of common shares	$ 1,782	$ 10,283
Class B [Member]
Stock Repurchase Program [Abstract]
Repurchase of common stock (in shares)	126,764

Shareholders' Equity, Changes i

Shareholders' Equity, Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 336,038	$ 367,416	$ 364,316	$ 356,082
Other comprehensive income (loss) before reclassifications			4,371	16,990
Amounts reclassified from accumulated other comprehensive income (loss)			445	(49)
Other comprehensive income	6,292	1,377	4,816	16,941
Ending balance	344,664	363,430	344,664	363,430
Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	7,893	8,217	9,369	(7,347)
Ending balance	14,185	9,594	14,185	9,594
Foreign Currency [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(494)	(1,139)
Other comprehensive income (loss) before reclassifications			(307)	402
Amounts reclassified from accumulated other comprehensive income (loss)			0	0
Other comprehensive income			(307)	402
Ending balance	(801)	(737)	(801)	(737)
Unrealized Holding Gains (Losses) on Available-for-sale Securities [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			9,863	(6,208)
Other comprehensive income (loss) before reclassifications			4,678	16,588
Amounts reclassified from accumulated other comprehensive income (loss)			445	(49)
Other comprehensive income			5,123	16,539
Ending balance	$ 14,986	$ 10,331	$ 14,986	$ 10,331

Related Parties (Details)

Related Parties (Details) - Investment Firm Services [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)Director	Sep. 30, 2019USD ($)
Related Party [Abstract]
Management fees and commissions	$ 103	$ 100
Director [Member]
Related Party [Abstract]
Number of related parties | Director	1
Market value of equity and fixed maturity securities portfolio	$ 6,805

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Nov. 03, 2020$ / shares
Subsequent Event [Abstract]
Dividend payable, date declared	Nov. 3, 2020
Dividend payable, date to be paid	Dec. 1, 2020
Dividend payable, date of record	Nov. 17, 2020
Class A [Member]
Subsequent Event [Abstract]
Dividend payable (in dollars per share)	$ 0.10
Class B [Member]
Subsequent Event [Abstract]
Dividend payable (in dollars per share)	$ 0.10