Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Carrying or Reported Values and Corresponding Fair Values for Financial Instruments

The following table summarizes the carrying or reported values and corresponding fair values for financial instruments:

	December 31,
	2022				2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(in thousands)
Assets:
Fixed maturity securities—held-to-maturity	$	491,688	$	468,144	$	549,231	$	575,850
Fixed maturity securities—available-for-sale		321,121		321,121		341,769		341,769
Equity securities		62,058		62,058		64,140		64,140
Short-term investments		14,120		14,120		57,431		57,431
Cash and cash equivalents		61,469		61,469		70,722		70,722

Schedule of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis as of December 31, 2022 and 2021 are as follows:

	December 31, 2022
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Financial instruments carried at fair value,    classified as part of:
Securities available-for-sale—fixed maturity:
States and political subdivisions	$	—	$	156,656	$	—	$	156,656
Corporate bonds		—		144,788		—		144,788
U.S. agency-based mortgage-backed securities		—		5,446		—		5,446
U.S. Treasury securities		14,231		—		—		14,231
Total securities available-for-sale—fixed maturity		14,231		306,890		—		321,121
Equity securities:
Domestic common stock		62,058		—		—		62,058
Total	$	76,289	$	306,890	$	—	$	383,179

	December 31, 2021
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Financial instruments carried at fair value,    classified as part of:
Securities available-for-sale—fixed maturity:
States and political subdivisions	$	—	$	216,306	$	—	$	216,306
Corporate bonds		—		96,426		—		96,426
U.S. agency-based mortgage-backed securities		—		8,089		—		8,089
U.S. Treasury securities		20,948		—		—		20,948
Total securities available-for-sale—fixed maturity		20,948		320,821		—		341,769
Equity securities:
Domestic common stock		64,140		—		—		64,140
Total	$	85,088	$	320,821	$	—	$	405,909

Schedule of Assets Measured at Amortized Cost

Assets measured at amortized cost net of allowance for credit losses as of December 31, 2022 and 2021 are as follows:

	December 31, 2022
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	395,944	$	—	$	395,944
Corporate bonds		—		55,851		—		55,851
U.S. agency-based mortgage-backed securities		—		3,576		—		3,576
U.S. Treasury securities		12,706		—		—		12,706
Asset-backed securities		—		67		—		67
Total held-to-maturity	$	12,706	$	455,438	$	—	$	468,144

	December 31, 2021
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	496,552	$	—	$	496,552
Corporate bonds		—		57,843		—		57,843
U.S. agency-based mortgage-backed securities		—		5,000		—		5,000
U.S. Treasury securities		16,347		—		—		16,347
Obligations of U.S. government agencies		—		—		—		—
Asset-backed securities		—		108		—		108
Total held-to-maturity	$	16,347	$	559,503	$	—	$	575,850