Fair Value (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Presentation of Carrying Values and Fair Values of Certain of Company's Financial Instruments

The carrying values and fair values of certain of the Company’s financial instruments were as follows (in thousands).

	March 31, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Investments, available-for-sale	$	133,213	$	133,213	$	130,248	$	130,248
Limited partnership interests		7,867		7,867		7,513		7,513
Liabilities:
Debentures payable		40,311		18,358		40,301		15,006

Presentation of Fair-Value Measurements for Each Major Category of Assets Measured on Recurring Basis

The following tables present the fair-value measurements for each major category of assets that are measured on a recurring basis (in thousands).

			Fair Value Measurements Using
March 31, 2014	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fixed maturities, available-for-sale:
U.S. government and agencies	$	12,425	$	12,425	$	—	$	—
State		734		—		734		—
Political subdivisions		612		—		612		—
Revenue and assessment		14,650		—		14,650		—
Corporate bonds		76,796		—		76,796		—
Collateralized mortgage obligations:
Agency backed		7,335		—		7,335		—
Non-agency backed – residential		4,572		—		4,572		—
Non-agency backed – commercial		3,470		—		3,470		—
Redeemable preferred stock		1,704		1,704		—		—
Total fixed maturities, available-for-sale		122,298		14,129		108,169		—
Mutual funds, available-for-sale		10,915		10,915		—		—
Total investments, available-for-sale		133,213		25,044		108,169		—
Limited partnership interests		7,867		—		—		7,867
Cash and cash equivalents		77,132		77,132		—		—
Total	$	218,212	$	102,176	$	108,169	$	7,867

			Fair Value Measurements Using
December 31, 2013	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fixed maturities, available-for-sale:
U.S. government and agencies	$	12,485	$	12,485	$	—	$	—
State		736		—		736		—
Political subdivisions		612		—		612		—
Revenue and assessment		14,658		—		14,658		—
Corporate bonds		73,325		—		73,325		—
Collateralized mortgage obligations:
Agency backed		7,514		—		7,514		—
Non-agency backed – residential		4,660		—		4,660		—
Non-agency backed – commercial		3,943		—		3,943		—
Redeemable preferred stock		1,578		1,578		—		—
Total fixed maturities, available-for-sale		119,511		14,063		105,448		—
Mutual funds, available-for-sale		10,737		10,737		—		—
Total investments, available-for-sale		130,248		24,800		105,448		—
Limited partnership interests		7,513		—		—		7,513
Cash and cash equivalents		72,033		72,033		—		—
Total	$	209,794	$	96,833	$	105,448	$	7,513

Quantitative Disclosure for Assets Classified as Level 3

The following table represents the quantitative disclosure for those assets classified as Level 3 during the three months ended March 31, 2014 (in thousands).

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Limited partnership interests carried at
	Net asset value			Equity method		Total
Balance at December 31, 2013	$	3,314		$	4,199	$	7,513
Gains included in net income		75			164		239
Investments and capital calls		268			—		268
Distributions received		(153	)		—		(153	)
Transfers into and out of Level 3		—			—		—
Balance at March 31, 2014	$	3,504		$	4,363	$	7,867