Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2013

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, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets:
Cash and cash equivalents	$	21,681	$	21,681	$	15,209	$	15,209
Restricted cash	17,293		17,293		31,142		31,142
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	51,435		51,435		23,178		23,178
Municipal securities	24,547		24,547		17,041		17,041
Corporate securities	55,360		55,360		70,008		70,008
Mortgage-backed securities	—		—		289		289
Obligations of foreign governments	409		409		—		—
Asset-backed securities	—		—		125		125
Equity securities:
Common stock - publicly traded	47		47		42		42
Preferred stock - publicly traded	5,087		5,087		5,107		5,107
Common stock - non-publicly traded	51		51		58		58
Preferred stock - non-publicly traded	1,013		1,013		1,013		1,013
Notes receivable	11,920		11,920		11,290		11,290
Accounts and premiums receivable, net	18,702		18,702		27,302		27,302
Other receivables	33,409		33,409		13,393		13,393
Short-term investments	871		871		1,222		1,222
Total financial assets	$	241,825	$	241,825	$	216,419	$	216,419
Financial liabilities:
Notes payable	$	3,273	$	3,273	$	89,438	$	89,438
Preferred trust securities	35,000		35,000		35,000		35,000
Interest rate swap	2,930		2,930		4,338		4,338
Total financial liabilities	$	41,203	$	41,203	$	128,776	$	128,776

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, 2013
			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	$	51,435	$	—	$	51,435	$	—
Municipal securities	24,547		—		24,547		—
Corporate securities	55,360		—		55,360		—
Obligations of foreign governments	409		—		409		—
Equity securities:
Common stock - publicly traded	47		47		—		—
Preferred stock - publicly traded	5,087		5,087		—		—
Common stock - non-publicly traded	51		—		—		51
Preferred stock - non-publicly traded	1,013		—		—		1,013
Short-term investments	871		871		—		—
Total assets	$	138,820	$	6,005	$	131,751	$	1,064
Financial Liabilities:
Interest rate swap	$	2,930	$	—	$	2,930	$	—

	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	$	6,371	$	110,589	$	1,123
Financial Liabilities:
Interest rate swap	$	4,338	$	—	$	4,338	$	—

There were no transfers between Level 1 and Level 2 for the year ended December 31, 2013. For the year ended December 31, 2013, one corporate 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 six individual securities that accounted for 0.8% of total investments at December 31, 2013. The Company utilized an independent third party pricing service to value four of the Level 3 securities. The values of two 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. While one of the Level 3 equity securities, 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, 2012, the Company had seven individual securities valued under Level 3 that accounted for 1.0% of total investments.

The following table summarizes the changes in Level 3 assets measured at fair value:	For the Years Ended December 31,
	2013			2012
Beginning balance, January 1,	$	1,123		$	1,204
Total investment gains or losses (realized/unrealized):
Included in net income	—			—
Included in other comprehensive (loss)	(32		)	(31		)
Sales	—			(47		)
Transfers (out of) Level 3	(27		)	(3		)
Ending balance, December 31,	$	1,064		$	1,123