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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flow from operating activities:    
Net income (loss) $ 3,244 $ (2,384)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of investment premium discount, net 1,035 932
Depreciation and amortization of property plant and equipment, net 146 132
Net realized investment losses (gains) 83 (1,052)
Non-cash impairment recognition 44 0
(Recovery) provision for credit losses, net (12) 17
Provision (recovery) for uncollectible premiums receivable 9 (19)
Non-cash compensation 140 149
Changes in operating assets and liabilities:    
Premiums receivable (2,530) 476
Prepaid reinsurance premiums 2,952 6,387
Reinsurance recoverable, net (118) 4,317
Income taxes recoverable (70) 113
Deferred income tax expense, net of other comprehensive income 1,796 (1,500)
Policy acquisition costs, net of amortization (766) 187
Other assets 427 (112)
Unpaid losses and LAE (8,805) (4,370)
Unearned premiums 10,983 (201)
Premium deposits and customer credit balances (749) 238
Funds held under reinsurance treaties 0 2,590
Income taxes payable (77) 0
Bank overdraft (1,702) 130
Accounts payable and accrued expenses 211 (1,043)
Net cash provided by operating activities 6,241 4,987
Cash flow used by investing activities:    
Proceeds from sale of investment securities 60,711 70,582
Purchases of investment securities available for sale (71,234) (76,739)
Purchases of property and equipment (81) 7
Net cash used by investing activities (10,604) (6,150)
Cash flow provided by financing activities:    
Exercised stock options 16 0
Tax benefit related to non-cash compensation 77 68
Net cash provided by financing activities 93 68
Net decrease in cash and short term investments (4,270) (1,095)
Cash and short term investments at beginning of period 15,205 16,206
Cash and short term investments at end of period 10,935 15,111
Cash paid during the period for:    
Interest 0 0
Income taxes 165 0
Non-cash investing and finance activities:    
Accrued dividends payable $ 0 $ 0