Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Fair Value of Financial Instruments 

The carrying and fair values of financial instruments are as follows:	At
	December 31, 2012				December 31, 2011
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets:					As Restated		As Restated
Cash and cash equivalents	$	15,209	$	15,209	$	31,339	$	31,339
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	23,178		23,178		26,360		26,360
Municipal securities	17,041		17,041		17,992		17,992
Corporate securities	70,008		70,008		47,472		47,472
Mortgage-backed securities	289		289		1,298		1,298
Asset-backed securities	125		125		387		387
Equity securities:
Common stock - publicly traded	42		42		39		39
Preferred stock - publicly traded	5,107		5,107		52		52
Common stock - non-publicly traded	58		58		114		114
Preferred stock - non-publicly traded	1,013		1,013		1,014		1,014
Notes receivable	11,290		11,290		3,603		3,603
Accounts and premiums receivable, net	27,026		27,026		19,690		19,690
Other receivables	13,511		13,511		9,465		9,465
Short-term investments	1,222		1,222		1,070		1,070
Total financial assets	$	185,119	$	185,119	$	159,895	$	159,895
Financial liabilities:
Notes payable	$	89,438	$	89,438	$	73,000	$	73,000
Preferred trust securities	35,000		35,000		35,000		35,000
Interest rate swap	4,338		4,338		3,601		3,601
Total financial liabilities	$	128,776	$	128,776	$	111,601	$	111,601

The Company's financial assets and liabilities accounted for at fair value by level within the fair value hierarchy are as follows:

At December 31, 2012			Fair Value Measurements Using:
			Quoted prices in active markets for identical assets		Significant other observable inputs		Significant unobservable inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	$	23,178	$	—	$	23,178	$	—
Municipal securities	17,041		—		17,041		—
Corporate securities	70,008		—		69,956		52
Mortgage-backed securities	289		—		289		—
Asset-backed securities	125		—		125		—
Equity securities:
Common stock - publicly traded	42		—		42		—
Preferred stock - publicly traded	5,107		5,107		—		—
Common stock - non-publicly traded	58		—		—		58
Preferred stock - non-publicly traded	1,013		—		—		1,013
Short-term investments	1,222		1,222		—		—
Total assets	$	118,083	$	6,329	$	110,631	$	1,123
Financial Liabilities:
Interest rate swap	$	4,338	$	—	$	4,338	$	—

At December 31, 2011			Fair Value Measurements Using:
			Quoted prices in active markets for identical assets		Significant other observable inputs		Significant unobservable inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	$	26,360	$	—	$	26,360	$	—
Municipal securities	17,992		—		17,992		—
Corporate securities	47,472		—		47,396		76
Mortgage-backed securities	1,298		—		1,298		—
Asset-backed securities	387		—		387		—
Equity securities:
Common stock - publicly traded	39		39		—		—
Preferred stock - publicly traded	52		52		—		—
Common stock - non-publicly traded	114		—		—		114
Preferred stock - non-publicly traded	1,014		—		—		1,014
Short-term investments	1,070		1,070		—		—
Total Assets	$	95,798	$	1,161	$	93,433	$	1,204
Financial Liabilities:
Interest rate swap	$	3,601	$	—	$	3,601	$	—

There were no transfers between Level 1 and Level 2 for the year ended December 31, 2012. For the year ended December 31, 2012, a single equity security was transferred from Level 3 to Level 2. This transfer occurred due to the availability of Level 2 pricing for the equity security, which was unavailable in prior periods. The Company's use of Level 3 unobservable inputs included 7 individual securities that accounted for 1.0% of total investments at December 31, 2012. The Company utilized an independent third party pricing service to value 5 of the Level 3 securities. The value of 2 equity securities in Level 3, which are non-publicly traded preferred stocks, were calculated by the Company. One of the equity securities, with a value of $1.0 million was valued by taking into account the strength of the issuer's parent company guaranteeing the dividend of the issuer. The second Level 3 equity security, with a value of $13.0 thousand was valued by estimating the total value of the Class-A shares outstanding by the issuer and a review of the company's audited financial statements. At December 31, 2011, the Company had 12 individual securities valued under Level 3 that accounted for 1.3% of total investments.

The following table summarizes the changes in Level 3 assets measured at fair value:	For the Years Ended December 31,
	2012			2011
Beginning balance, January 1,	$	1,204		$	1,425
Total investment gains or losses (realized/unrealized):
Included in net income	—			319
Included in other comprehensive (loss)	(31		)	(120		)
Sales	(47		)	(522		)
Transfers (out of) into Level 3	(3		)	102
Ending balance, December 31,	$	1,123		$	1,204