Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Summary of Carrying 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,
	2013				2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
Assets:
Fixed maturity securities—held to maturity	$	536,583	$	561,179	$	583,287	$	627,349
Fixed maturity securities—available for sale		237,877		237,877		149,139		149,139
Equity securities		9,302		9,302		6,766		6,766
Cash and cash equivalents		123,077		123,077		92,676		92,676
Short-term investments		84,422		84,422		68,924		68,924
Other investments		10,591		10,591		—		—

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012 are as follows:

	December 31, 2013
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In thousands)
Financial instruments carried at fair value, classified as part of:
Other investments	$	—	$	—	$	10,591	$	10,591
Securities available for sale—equity:
Domestic common stock		9,302		—		—		9,302
Securities available for sale—fixed maturity:
States and political subdivisions		—		150,375		—		150,375
U.S. agency-based mortgage-backed securities		—		7,074		—		7,074
Corporate bonds		—		80,428		—		80,428
Total available for sale—fixed maturity	$	—	$	237,877	$	—	$	237,877
Total available for sale	$	9,302	$	237,877	$	10,591	$	257,770
	December 31, 2012
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In thousands)
Securities available for sale—equity
Domestic common stock	$	6,766	$	—	$	—	$	6,766
Securities available for sale—fixed maturity
States and political subdivisions		—		98,242		—		98,242
U.S. agency-based mortgage-backed securities		—		11,087		—		11,087
Corporate bonds		—		39,810		—		39,810
Total available for sale—fixed maturity	$	—	$	149,139	$	—	$	149,139
Total available for sale	$	6,766	$	149,139	$	—	$	155,905

Schedule of Assets and Liabilities Measured at Amortized Cost

Assets and liabilities measured at amortized cost as of December 31, 2013 and 2012 are as follows:

	December 31, 2013
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	399,155	$	—	$	399,155
Corporate bonds		—		68,243		—		68,243
Commercial mortgage-backed securities		—		54,244		—		54,244
U.S. agency-based mortgage-backed securities		—		23,565		—		23,565
U.S. Treasury securities		6,602		—		—		6,602
Obligations of the U.S. Government agencies		—		5,914		—		5,914
Asset-backed securities		—		3,456		—		3,456
Total held-to-maturity	$	6,602	$	554,577	$	—	$	561,179

	December 31, 2012
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	431,968	$	—	$	431,968
Corporate bonds		—		84,377		—		84,377
Commercial mortgage-backed securities		—		57,962		—		57,962
U.S. agency-based mortgage-backed securities		—		36,042		—		36,042
U.S. Treasury securities		6,174		—		—		6,174
Obligations of the U.S. Government agencies		—		6,581		—		6,581
Asset-backed securities		—		4,245		—		4,245
Total held-to-maturity	$	6,174	$	621,175	$	—	$	627,349

Summary of Changes in Fair Value of Assets Measured at Fair value

The following table presents summary information regarding changes in the fair value of assets measured at fair value using Level 3 input.

	December 31, 2013
	(In thousands)
Balance at January 1, 2013	$	—
Purchases		10,000
Total gains unrealized (included in earnings as part of net investment income)		591
Balance at December 31, 2013	$	10,591