Fair Value (Tables)

3 Months Ended

Mar. 31, 2019

Fair value, asset & liabilities measured on recurring basis [Table Text Block]

The following table summarizes, by major security type, the Company's assets that are measured at fair value on a recurring basis, and placement within the fair value hierarchy (in thousands):



	As of March 31, 2019
	Fair Value		Level 1		Level 2		Level 3
Assets
Restricted cash	$	1,400	$	1,400	$	—	$	—
Money market funds	4,022		4,022		—		—
Fixed maturities:
Foreign deposits	2,701		2,701		—		—
Municipal bond	1,000		—		1,000		—
Investment in variable interest entity	3,000		—		—		3,000
Total	$	12,123	$	8,123	$	1,000	$	3,000

	As of December 31, 2018
	Fair Value		Level 1		Level 2		Level 3
Assets
Restricted cash	$	1,400	$	1,400	$	—	$	—
Money market funds	2,010		2,010		—		—
Fixed maturities:
Foreign deposits	2,573		2,573		—		—
Municipal bond	981		—		981		—
Investment in variable interest entity	3,000		—		—		3,000
Total	$	9,964	$	5,983	$	981	$	3,000

The Company measures the fair value of restricted cash, money market funds, and foreign deposits based on quoted prices in active markets for identical assets. The fair value of the municipal bond is based on either recent trades in inactive markets or quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data. The estimated fair value of the Company's investment in the variable interest entity is a Level 3 measurement, and is based on market interest rates, the assessed creditworthiness of the entity, and the estimated fair value of the entity's common stock. As of March 31, 2019, the Company estimates that the purchase price approximates the fair value. Short-term investments are carried at amortized cost and the fair value is disclosed in Note 3, Investments. The fair value of these investments is determined in the same manner as for available-for-sale securities and is considered a Level 1 measurement.