Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

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,
	2015				2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(in thousands)
Assets:
Fixed maturity securities—held to maturity	$	645,164	$	662,276	$	639,631	$	664,371
Fixed maturity securities—available for sale		380,022		380,022		331,242		331,242
Equity securities		31		31		28		28
Cash and cash equivalents		69,481		69,481		90,956		90,956
Short-term investments		7,718		7,718		33,684		33,684
Other investments		12,217		12,217		11,748		11,748

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, 2015 and 2014 are as follows:

	December 31, 2015
	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	$	—	$	—	$	12,217	$	12,217
Securities available for sale—equity:
Domestic common stock		31		—		—		31
Securities available for sale—fixed maturity:
States and political subdivisions		—		171,419		—		171,419
U.S. agency-based mortgage-backed securities		—		7,299		—		7,299
Corporate bonds		—		201,304		—		201,304
Total available for sale—fixed maturity	$	—	$	380,022	$	—	$	380,022
Total available for sale	$	31	$	380,022	$	12,217	$	392,270
	December 31, 2014
	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	$	—	$	—	$	11,748	$	11,748
Securities available for sale—equity:
Domestic common stock		28		—		—		28
Securities available for sale—fixed maturity:
States and political subdivisions		—		157,374		—		157,374
U.S. agency-based mortgage-backed securities		—		8,498		—		8,498
Corporate bonds		—		165,370		—		165,370
Total available for sale—fixed maturity	$	—	$	331,242	$	—	$	331,242
Total available for sale	$	28	$	331,242	$	11,748	$	343,018

Schedule of Assets and Liabilities Measured at Amortized Cost

Assets and liabilities measured at amortized cost as of December 31, 2015 and 2014 are as follows:

	December 31, 2015
	Level 1 Inputs		Level 2 Inputs		Level 3     Inputs		Total Fair Value
	(in thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	423,754	$	—	$	423,754
Corporate bonds		—		170,573		—		170,573
Commercial mortgage-backed securities		—		37,683		—		37,683
U.S. agency-based mortgage-backed securities		—		14,471		—		14,471
U.S. Treasury securities		13,380		—		—		13,380
Asset-backed securities		—		2,415		—		2,415
Total held-to-maturity	$	13,380	$	648,896	$	—	$	662,276
	December 31, 2014
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(in thousands)
Securities held-to-maturity—fixed maturity:
States and political subdivisions	$	—	$	405,665	$	—	$	405,665
Corporate bonds		—		176,734		—		176,734
Commercial mortgage-backed securities		—		48,529		—		48,529
U.S. agency-based mortgage-backed securities		—		18,672		—		18,672
U.S. Treasury securities		11,792		—		—		11,792
Asset-backed securities		—		2,979		—		2,979
Total held-to-maturity	$	11,792	$	652,579	$	—	$	664,371

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, 2015		December 31, 2014
	(in thousands)
Balance at beginning of year	$	11,748	$	10,591
Total unrealized gains		469		1,157
Balance at end of year	$	12,217	$	11,748