Fair Value Of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Of Financial Instruments

Fair value of financial instruments

The following table presents information about the Company’s financial instruments and their estimated fair values, which are measured on a recurring basis, and are allocated among the three levels within the fair value hierarchy as of September 30, 2020, and December 31, 2019: 

	Level 1		Level 2		Level 3		Total
September 30, 2020
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	10,376,994	$	—	$	—	$	10,376,994
Corporate securities		—		47,946,647		—		47,946,647
Agency mortgage backed securities		—		23,345,593		—		23,345,593
Equity securities		1,557,856		—		—		1,557,856
Short-term investments		200,000		—		—		200,000
Total financial instruments at fair value	$	12,134,850	$	71,292,240	$	—	$	83,427,090

	Level 1		Level 2		Level 3		Total
December 31, 2019
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	15,235,332	$	—	$	—	$	15,235,332
Corporate securities		—		43,029,333		—		43,029,333
Agency mortgage backed securities		—		25,235,045		—		25,235,045
Short-term investments		2,196,815		—		—		2,196,815
Total financial instruments at fair value	$	17,432,147	$	68,264,378	$	—	$	85,696,525