INVESTMENTS

12 Months Ended

Dec. 31, 2011

Investments [Abstract]

Investments [Text Block]

9.  INVESTMENTS

The Company’s investments (short-term and long-term) consist of the following:

	Amortized Cost Basis		Gross Unrealized Losses			Gross Unrealized Gains		Fair Value
	(In thousands)
December 31, 2011
Corporate debt securities	$	7,376	$	(264	)	$	66	$	7,178
Government sponsored enterprise mortgage-backed securities		1,012		(2	)		1		1,011
Total investments	$	8,388	$	(266	)	$	67	$	8,189

The following tables show the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

	Fair Value < 1 Year		Unrealized Losses < 1 Year			Fair Value  > 1 Year		Unrealized Losses > 1 Year			Total Unrealized Losses
	(In thousands)
December 31, 2011
Corporate debt securities	$	2,760	$	(178	)	$	1,693	$	(86	)	$	(264	)
Government sponsored enterprise mortgage-backed securities		400		(2	)		0		0			(2	)
Total investments	$	3,160	$	(180	)	$	1,693	$	(86	)	$	(266	)

The Company’s investments in debt securities are sensitive to interest rate fluctuations, which impact the fair value of individual securities. The Company has analyzed the unrealized losses on the 65 securities that were in an unrealized loss position as of December 31, 2011, and believe that they do not meet the criteria for an other-than-temporary-impairment. The Company has not decided to sell the affected securities and it is not more likely than not that the Company will be required to sell before a recovery of the amortized cost of the affected securities. However, given the judgmental nature of the Company’s analysis, there is a continuing risk that further declines in fair value may occur. These declines could result in other-than-temporary-impairment losses in future periods.

The amortized cost and estimated fair value of debt securities at December 31, 2011, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities of mortgage-backed securities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost Basis		Fair Value
	(In thousands)
Within 1 year	$	790	$	768
After 1 year through 5 years		3,817		3,658
After 5 years through 10 years		2,021		2,018
After 10 years		748		734
Mortgage-backed securities		1,012		1,011
Total	$	8,388	$	8,189

A primary objective in the management of the fixed maturity portfolios is to maximize total return relative to underlying liabilities and respective liquidity needs. In achieving this goal, assets may be sold to take advantage of market conditions or other investment opportunities, as well as tax considerations. Sales will generally produce realized gains or losses. In the ordinary course of business, the Company may sell securities for a number of reasons, including, but not limited to: (i) changes to the investment environment; (ii) expectation that the fair value could deteriorate further; (iii) desire to reduce exposure to an issuer or an industry; (iv) changes in credit quality; and (v) changes in expected cash flow. Available-for-sale securities were sold as follows:

	Year Ended December 31, 2011
	(In thousands)
Proceeds from sales	$	30,449
Gross realized gains		31
Gross realized losses		(311	)