CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS

3 Months Ended

Mar. 31, 2023

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS

3. CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS

	At March 31,		At December 31,
	2023		2022
	(in thousands)
Cash on deposit	$	729	$	1,207
Restricted cash held in trust		2,891		2,721
Total	$	3,620	$	3,928

Cash and cash equivalents are held by large and reputable counterparties in the United States of America and in the Cayman Islands. Restricted cash held in trust is custodied with Truist Bank and is held in accordance with the Company’s trust agreements with the ceding insurers and trustees, which require that the Company provide collateral having a market value greater than or equal to the limit of liability, less unpaid premium.