Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value

The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis, classified by the valuation hierarchy as of June 30, 2022 and December 31, 2021 (dollars in thousands):

	June 30, 2022
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Debt Securities:
U.S. Government	$	7,574	$	—	$	7,574	$	—
State and local government		23,172		—		23,172		—
Corporate debt		31,484		—		31,484		—
Asset-backed securities		22,845		—		22,845		—
Mortgage-backed securities		26,706		—		26,706		—
Commercial mortgage-backed securities		3,269		—		3,269		—
Collateralized mortgage obligations		4,157		—		4,157		—
Total debt securities		119,207		—		119,207		—
Equity Securities		537		255		282		—
Short-term investments		28,001		28,001		—		—
Total marketable investments measured at fair value	$	147,745	$	28,256	$	119,489	$	—
Investments measured at NAV:
Investment in limited partnership		453
Total assets measured at fair value	$	148,198
Liabilities:
Senior Unsecured Notes *	$	20,821	$	—	$	20,821	$	—
Subordinated Notes *		11,517		—		—		11,517
Total Liabilities measured at fair value	$	32,338	$	—	$	20,821	$	11,517

* Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets

	December 31, 2021
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Debt Securities:
U.S. Government	$	20,720	$	—	$	20,720	$	—
State and local government		30,429		—		30,429		—
Corporate debt		30,346		—		30,346		—
Asset-backed securities		28,438		—		28,438		—
Mortgage-backed securities		32,521		—		32,521		—
Commercial mortgage-backed securities		1,690		—		1,690		—
Collateralized mortgage obligations		5,639		—		5,639		—
Total debt securities		149,783		—		149,783		—
Equity securities		9,437		9,154		283		—
Short-term investments		23,013		23,013		—		—
Total marketable investments measured at fair value	$	182,233	$	32,167	$	150,066	$	—
Investments measured at NAV:
Investment in limited partnership		494
Total assets measured at fair value	$	182,727
Liabilities:
Senior Unsecured Notes *	$	24,118	$	—	$	24,118	$	—
Subordinated Notes *		11,704		—		—		11,704
Total Liabilities measured at fair value	$	35,822	$	—	$	24,118	$	11,704

* Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets