Income Taxes (Tables)

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Components of Deferred Tax Liability

The table below summarizes the significant components of the Company’s net deferred tax liability:

	September 30, 2021			December 31, 2020
Deferred tax assets:	(In thousands)
Unearned premiums	$	13,101		$	15,303
Unearned commission		9,649			9,272
Net operating loss		1,880			1,885
Tax-related discount on loss reserve		3,809			3,322
Stock-based compensation		225			113
Accrued expenses		1,456			982
Leases		738			394
Unrealized losses		373			—
Other		719			343
Total deferred tax asset		31,950			31,614
Deferred tax liabilities:
Deferred acquisition costs		22,122			20,694
Prepaid expenses		184			236
Unrealized gains		—			1,814
Property and equipment		1,398			1,669
Note discount		203			326
Basis in purchased investments		37			53
Basis in purchased intangibles		14,652			15,693
Internal revenue code 481(a)-Accounting method change		5,361			8,577
Other		1,658			1,029
Total deferred tax liabilities		45,615			50,091
Net deferred tax liability	$	(13,665	)	$	(18,477	)