Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2014

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
	June 30, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial assets:
Cash and cash equivalents	$	10,657	$	10,657	$	21,681	$	21,681
Restricted cash	12,279		12,279		17,293		17,293
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	47,149		47,149		51,435		51,435
Municipal securities	34,124		34,124		24,547		24,547
Corporate securities	62,534		62,534		55,360		55,360
Obligations of foreign governments	1,009		1,009		409		409
Equity securities:
Common stock - publicly traded	47		47		47		47
Preferred stock - publicly traded	5,790		5,790		5,087		5,087
Common stock - non-publicly traded	51		51		51		51
Preferred stock - non-publicly traded	1,013		1,013		1,013		1,013
Notes receivable	18,297		18,297		11,920		11,920
Accounts and premiums receivable, net	15,743		15,743		18,702		18,702
Other receivables	29,941		29,941		33,409		33,409
Short-term investments	871		871		871		871
Total financial assets	$	239,505	$	239,505	$	241,825	$	241,825
Financial liabilities:
Notes payable	$	10,979	$	10,979	$	3,273	$	3,273
Preferred trust securities	35,000		35,000		35,000		35,000
Interest rate swap	2,619		2,619		2,930		2,930
Total financial liabilities	$	48,598	$	48,598	$	41,203	$	41,203

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

	At June 30, 2014
			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	$	47,149	$	—	$	47,149	$	—
Municipal securities	34,124		—		34,124		—
Corporate securities	62,534		—		62,534		—
Obligations of foreign governments	1,009		—		1,009		—
Equity securities:
Common stock - publicly traded	47		47		—		—
Preferred stock - publicly traded	5,790		5,790		—		—
Common stock - non-publicly traded	51		—		—		51
Preferred stock - non-publicly traded	1,013		—		—		1,013
Short-term investments	871		871		—		—
Total assets	$	152,588	$	6,708	$	144,816	$	1,064
Financial Liabilities:
Interest rate swap	$	2,619	$	—	$	2,619	$	—

	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	$	—

There were no transfers between Level 1, Level 2 or Level 3 during the three or the six months ended June 30, 2014. The Company's use of Level 3 unobservable inputs included six individual securities that accounted for 0.7% of total investments at June 30, 2014. The Company valued one of the Level 3 equity securities at $1.0 million by taking into account the strength of the issuer's parent company guaranteeing the dividend of the issuer, and another Level 3 equity security at $13.0 thousand, by estimating the total value of the Class-A shares outstanding by the issuer and a review of the company's audited financial statements. The remaining four Level 3 securities, with a combined fair value of $51.0 thousand were valued based on information obtained from a third-party pricing service. At December 31, 2013, the Company had six individual securities valued under Level 3 that accounted for 0.8% of total investments.

The following table presents the changes in Level 3 assets measured at fair value:	For the Six Months Ended June 30,
	2014		2013
Beginning balance, January 1,	$	1,064	$	1,123
Total investment gains or losses (realized/unrealized):
Included in other comprehensive (loss)	—		(25		)
Transfers (out of) Level 3	—		(27		)
Ending balance, June 30,	$	1,064	$	1,071