Insurance and Other Income

12 Months Ended

Mar. 31, 2021

Insurance Commissions and other income [Abstract]

Insurance and other income for the years ending March 31, 2021, 2020, and 2019 consist of:


	2021		2020	2019
Insurance revenue	$	44,214,454	50,360,730	45,182,596
Tax return preparation revenue	18,098,087		20,936,447	21,454,117
Auto club membership revenue	7,863,145		6,254,748	4,452,018

Other	4,244,079		4,150,319	4,299,917
Insurance and other income	$	74,419,765	81,702,244	75,388,648

The Company has a wholly-owned, captive insurance subsidiary that reinsures a portion of the credit insurance sold in connection with loans made by the Company. Certain coverages currently sold by the Company on behalf of the unaffiliated insurance carrier are ceded by the carrier to the captive insurance subsidiary, providing the Company with an additional source of income derived from the earned reinsurance premiums. Insurance premiums are ceded to the reinsurance subsidiary as written and revenue is recognized over the life of the related insurance contracts. As of March 31, 2021, 2020, and 2019, the amount of net written premiums by the reinsurance subsidiary were $5.9 million, $6.6 million, and $5.6 million, respectively, and the amount of earned premiums were $6.0 million, $6.2 million, and $5.7 million, respectively.

The Company maintains a cash reserve for claims in an amount determined by the ceding company, and as of March 31, 2021 and 2020, the cash reserves were $4.0 million and $4.7 million, respectively.