Investments (Tables)

3 Months Ended

Mar. 31, 2015

Investments Debt And Equity Securities [Abstract]

Summary of Company's Investment Securities

The following tables summarize the Company’s investment securities (in thousands).

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
March 31, 2015	Cost		Gains		Losses			Value
U.S. government and agencies	$	13,038	$	353	$	—		$	13,391
State		698		21		—			719
Political subdivisions		500		4		—			504
Revenue and assessment		14,573		1,543		—			16,116
Corporate bonds		71,907		3,156		(276	)		74,787
Collateralized mortgage obligations:
Agency backed		4,613		148		—			4,761
Non-agency backed – residential		3,380		684		(1	)		4,063
Non-agency backed – commercial		2,134		650		—			2,784
Total fixed maturities, available-for-sale		110,843		6,559		(277	)		117,125
Preferred stock, available-for-sale		1,500		283		—			1,783
Mutual funds, available-for-sale		9,901		425		—			10,326
	$	122,244	$	7,267	$	(277	)	$	129,234

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2014	Cost		Gains		Losses			Value
U.S. government and agencies	$	8,039	$	277	$	(26	)	$	8,290
State		698		27		—			725
Political subdivisions		500		6		—			506
Revenue and assessment		14,856		1,522		(18	)		16,360
Corporate bonds		73,051		2,698		(630	)		75,119
Collateralized mortgage obligations:
Agency backed		4,647		160		—			4,807
Non-agency backed – residential		3,513		624		—			4,137
Non-agency backed – commercial		2,414		664		—			3,078
Total fixed maturities, available-for-sale		107,718		5,978		(674	)		113,022
Preferred stock, available-for-sale		1,500		267		—			1,767
Mutual funds, available-for-sale		9,901		403		(8	)		10,296
	$	119,119	$	6,648	$	(682	)	$	125,085

Scheduled Maturities of Company's Fixed Maturity Securities Based on their Fair Values

The following tables set forth the scheduled maturities of the Company’s fixed maturity securities based on their fair values (in thousands). Actual maturities may differ from contractual maturities because certain securities may be called or prepaid by the issuers.

					Securities
	Securities		Securities		with No		All
	with		with		Unrealized		Fixed
	Unrealized		Unrealized		Gains or		Maturity
March 31, 2015	Gains		Losses		Losses		Securities
One year or less	$	9,422	$	—	$	—	$	9,422
After one through five years		30,047		5,801		—		35,848
After five through ten years		33,756		15,594		—		49,350
After ten years		10,898		-		—		10,898
No single maturity date		11,303		304		—		11,607
	$	95,426	$	21,699	$	—	$	117,125

					Securities
	Securities		Securities		with No		All
	with		with		Unrealized		Fixed
	Unrealized		Unrealized		Gains or		Maturity
December 31, 2014	Gains		Losses		Losses		Securities
One year or less	$	8,791	$	—	$	—	$	8,791
After one through five years		22,140		12,888		—		35,028
After five through ten years		24,980		21,450		—		46,430
After ten years		9,009		1,742		—		10,751
No single maturity date		12,022		—		—		12,022
	$	76,942	$	36,080	$	—	$	113,022

Number of Fixed Maturity Securities with Gross Unrealized Gains and Losses

The following table reflects the number of fixed maturity securities with gross unrealized gains and losses. Gross unrealized losses are further segregated by the length of time that individual securities have been in a continuous unrealized loss position.

Gross Unrealized Losses

Less than

Greater

Gross

or equal to

than 12

Unrealized

At:

12 months

months

Gains

March 31, 2015

December 31, 2014

Fair Value and Gross Unrealized Losses of Fixed Maturity Securities in Continuous Unrealized Loss Position for Greater than 12 Months

The following tables reflect the fair value and gross unrealized losses of those fixed maturity securities in a continuous unrealized loss position for greater than 12 months. Gross unrealized losses are further segregated by the percentage of amortized cost (in thousands, except number of securities).

	Number				Gross
Gross Unrealized Losses	of		Fair		Unrealized
at March 31, 2015:	Securities		Value		Losses
Less than or equal to 10%		5		9,819		(167	)
Greater than 10%		—		—		—
		5	$	9,819	$	(167	)

	Number				Gross
Gross Unrealized Losses	of		Fair		Unrealized
at December 31, 2014:	Securities		Value		Losses
Less than or equal to 10%		9	$	20,567	$	(592	)
Greater than 10%		—		—		—
		9	$	20,567	$	(592	)

Gross Unrealized Losses by Current Severity and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position

The following tables set forth the amount of gross unrealized losses by current severity (as compared to amortized cost) and length of time that individual securities have been in a continuous unrealized loss position (in thousands).

	Fair Value of
	Securities with
Length of	Gross		Gross			Severity of Gross Unrealized Losses
Gross Unrealized Losses	Unrealized		Unrealized			Less			5% to		Greater
at March 31, 2015:	Losses		Losses			than 5%				10%	than 10%
Less than or equal to:
Three months	$	11,880	$	(110	)	$	(109	)	$	—	$	(1	)
Six months		—		—			—			—		—
Nine months		—		—			—			—		—
Twelve months		—		—			—			—		—
Greater than twelve months		9,819		(167	)		(167	)		—		—
Total	$	21,699	$	(277	)	$	(276	)	$	—	$	(1	)

	Fair Value of
	Securities with
Length of	Gross		Gross			Severity of Gross Unrealized Losses
Gross Unrealized Losses	Unrealized		Unrealized			Less			5% to		Greater
at December 31, 2014:	Losses		Losses			than 5%				10%	than 10%
Less than or equal to:
Three months	$	17,505	$	(90	)	$	(90	)	$	—	$	—
Six months		—		—			—			—		—
Nine months		—		—			—			—		—
Twelve months		—		—			—			—		—
Greater than twelve months		20,567		(592	)		(592	)		—		—
Total	$	38,072	$	(682	)	$	(682	)	$	—	$	—

Major Categories of Investment Income

The major categories of investment income follow (in thousands).

	Three Months Ended
	March 31,
	2015			2014
Fixed maturities, available-for-sale	$	1,043		$	1,239
Mutual funds, available-for-sale		147			160
Other investments		46			239
Other		31			26
Investment expenses		(122	)		(127	)
	$	1,145		$	1,537

Components of Net Realized Gains (Losses) on Investments, Available-For-Sale at Fair Value

The components of net realized gains (losses) on investments, available-for-sale at fair value follow (in thousands).

	Three Months Ended
	March 31,
	2015			2014
Gains	$	—		$	85
Losses		(3	)		(3	)
	$	(3	)	$	82

Progression of Credit-Related Portion of OTTI on Investments

The following is a progression of the credit-related portion of OTTI on investments owned at March 31, 2015 and 2014 (in thousands).

	Three Months Ended
	March 31,
	2015			2014
Beginning balance	$	(2,632	)	$	(2,632	)
Additional credit impairments on:
Previously impaired securities		—			—
Securities without previous impairments		—			—
		—			—
Reductions for securities sold (realized)		—			—
	$	(2,632	)	$	(2,632	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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