Segment Results Level 3 (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Segment Reporting Information, by Segment [Table Text Block]



	For the Three Months Ended						For the Nine Months Ended
	September 30, 2012			September 30, 2011			September 30, 2012			September 30, 2011
Segment Net Revenue
Payment Protection
Service and administrative fees	$	4,677		$	5,695		$	13,876		$	14,704
Ceding commission	11,122			7,027			25,396			21,428
Net investment income	744			801			2,219			2,636
Net realized (losses) gains on the sale of investments	(16		)	1,196			(6		)	2,423
Other income	52			18			172			138
Net earned premium	33,893			28,673			97,770			84,646
Net losses and loss adjustment expenses	(11,430		)	(9,714		)	(32,272		)	(28,338		)
Commissions	(21,548		)	(17,926		)	(61,479		)	(53,766		)
Total Payment Protection Net Revenue	17,494			15,770			45,676			43,871
BPO	4,951			3,833			13,565			11,088
Brokerage
Brokerage commissions and fees	8,411			8,611			27,295			25,686
Service and administrative fees	428			597			1,349			2,249
Total Brokerage	8,839			9,208			28,644			27,935
Total segment net revenue	31,284			28,811			87,885			82,894

Operating Expenses



	For the Three Months Ended					For the Nine Months Ended
	September 30, 2012		September 30, 2011			September 30, 2012		September 30, 2011
Payment Protection	9,563		8,445			26,205		25,857
BPO	3,836		2,717			10,320		8,164
Brokerage	7,268		7,491			21,577		21,837
Corporate	—		36			—		1,763
Total operating expenses	20,667		18,689			58,102		57,621

EBITDA
Payment Protection	7,931		7,325			19,471		18,014
BPO	1,115		1,116			3,245		2,924
Brokerage	1,571		1,717			7,067		6,098
Corporate	—		(36		)	—		(1,763		)
Total EBITDA	10,617		10,122			29,783		25,273

Depreciation and Amortization
Payment Protection	863		927			2,577		3,204
BPO	494		307			1,495		824
Brokerage	641		650			2,287		1,683
Total depreciation and amortization	1,998		1,884			6,359		5,711

Interest Expense
Payment Protection	1,359		1,053			3,342		3,622
BPO	294		96			820		258
Brokerage	372		757			1,105		1,982
Total interest expense	2,025		1,906			5,267		5,862

Income before income taxes and non-controlling interest
Payment Protection	5,709		5,345			13,552		11,188
BPO	327		713			930		1,842
Brokerage	558		310			3,675		2,433
Corporate	—		(36		)	—		(1,763		)
Total income before income taxes and non-controlling interest	6,594		6,332			18,157		13,700
Income taxes	2,455		2,259			6,520		4,847
Less: net income (loss) attributable to non-controlling interest	29		1			62		(171		)
Net income	$	4,110	$	4,072		$	11,575	$	9,024

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

The following table reconciles segment information to the Company's Consolidated Statements of Income and provides a summary of other key financial information for each segment:



	For the Three Months Ended				For the Nine Months Ended
Reconciliation of Segment Net Revenue to Total Revenue and EBITDA to Net Income	September 30, 2012		September 30, 2011		September 30, 2012		September 30, 2011
Segment Net Revenue
Payment Protection	$	17,494	$	15,770	$	45,676	$	43,871
BPO	4,951		3,833		13,565		11,088
Brokerage	8,839		9,208		28,644		27,935
Segment net revenues	31,284		28,811		87,885		82,894
Net losses and loss adjustment expenses	11,430		9,714		32,272		28,338
Commissions	21,548		17,926		61,479		53,766



	For the Three Months Ended					For the Nine Months Ended
Reconciliation of Segment Net Revenue to Total Revenue and EBITDA to Net Income	September 30, 2012		September 30, 2011			September 30, 2012		September 30, 2011
Total segment revenue	64,262		56,451			181,636		164,998

Operating Expenses
Payment Protection	9,563		8,445			26,205		25,857
BPO	3,836		2,717			10,320		8,164
Brokerage	7,268		7,491			21,577		21,837
Corporate	—		36			—		1,763
Total operating expenses	20,667		18,689			58,102		57,621
Net losses and loss adjustment expenses	11,430		9,714			32,272		28,338
Commissions	21,548		17,926			61,479		53,766
Total operating expenses before depreciation, amortization and interest expense	53,645		46,329			151,853		139,725

EBITDA
Payment Protection	7,931		7,325			19,471		18,014
BPO	1,115		1,116			3,245		2,924
Brokerage	1,571		1,717			7,067		6,098
Corporate	—		(36		)	—		(1,763		)
Total EBITDA	10,617		10,122			29,783		25,273

Depreciation and amortization
Payment Protection	863		927			2,577		3,204
BPO	494		307			1,495		824
Brokerage	641		650			2,287		1,683
Total depreciation and amortization	1,998		1,884			6,359		5,711

Interest Expense
Payment Protection	1,359		1,053			3,342		3,622
BPO	294		96			820		258
Brokerage	372		757			1,105		1,982
Total interest expense	2,025		1,906			5,267		5,862

Income before income taxes and non-controlling interest
Payment Protection	5,709		5,345			13,552		11,188
BPO	327		713			930		1,842
Brokerage	558		310			3,675		2,433
Corporate	—		(36		)	—		(1,763		)
Total income before income taxes and non-controlling interest	6,594		6,332			18,157		13,700
Income taxes	2,455		2,259			6,520		4,847
Less: net income (loss) attributable to non-controlling interest	29		1			62		(171		)
Net income	$	4,110	$	4,072		$	11,575	$	9,024

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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