Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Measurements [Abstract]

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

At September 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	$	7,117	$	—	$	—	$	7,117
Securities available for sale—fixed maturity
States and political subdivisions		—		96,801		—		96,801
Corporate bonds		—		39,268		—		39,268
U.S. agency-based mortgage-backed securities		—		11,062		—		11,062
Total available for sale—fixed maturity		—	$	147,131	$	—	$	147,131
Total available for sale	$	7,117	$	147,131	$	—	$	154,248

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

	As of September 30, 2012				As of December 31, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Assets:
Fixed maturity securities—held-to-maturity	$	607,681	$	654,175	$	646,048	$	685,242
Fixed maturity securities—available-for-sale		147,131		147,131		100,742		100,742
Equity securities		7,117		7,117		12,240		12,240
Cash and cash equivalents		69,345		69,345		45,536		45,536
Short-term Investments		51,345		51,345		46,944		46,944
Liabilities:
Subordinated debt securities:
ACT II		—		—		25,780		25,780