Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

At June 30, 2012, assets and liabilities measured at fair value on a recurring basis are summarized below:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Securities available for sale—equity
Domestic common stock	$	7,903	$	—	$	—	$	7,903
Securities available for sale—fixed maturity
States and political subdivisions		—		76,203		—		76,203
Corporate bonds		—		48,141		—		48,141
U.S. agency-based mortgage-backed securities		—		4,221		—		4,221
Total available for sale—fixed maturity		—	$	128,565	$	—	$	128,565
Total available for sale	$	7,903	$	128,565	$	—	$	136,468

At December 31, 2011, assets and liabilities measured at fair value on a recurring basis are summarized below:

	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Securities available for sale—equity
Domestic common stock	$	11,460	$	—	$	—	$	11,460
Securities available for sale—fixed maturity
States and political subdivisions		—		57,762		—		57,762
Corporate bonds		—		42,980		—		42,980
Total available for sale—fixed maturity		—	$	100,742	$	—	$	100,742
Total available for sale	$	11,460	$	100,742	$	—	$	112,202

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:

	As of June 30, 2012				As of December 31, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Assets:
Fixed maturity securities—held-to-maturity	$	620,682	$	662,917	$	646,048	$	685,242
Fixed maturity securities—available-for-sale		128,565		128,565		100,742		100,742
Equity securities		8,293		8,293		12,240		12,240
Cash and cash equivalents		76,848		76,848		45,536		45,536
Short-term Investments		43,751		43,751		46,944		46,944
Liabilities:
Subordinated debt securities:
ACT II		12,890		12,890		25,780		25,780