The following tables present cost or amortized cost and fair values of investments as of September 30, 2020 and December 31, 2019 ($ in millions):


	Cost or Amortized Cost		Gross Unrealized				Fair Value
			Gains		Losses
September 30, 2020
U.S. Government obligations	$	6.5	$	0.2	$	—	$	6.7
Total	$	6.5	$	0.2	$	—	$	6.7

December 31, 2019
U.S. Government obligations	$	5.8	$	0.1	$	—	$	5.9
Total	$	5.8	$	0.1	$	—	$	5.9

Gross unrealized gains for U.S. Government obligations were $0.2 million and $0.1 million, as of September 30, 2020 and December 31, 2019, respectively. There were no gross unrealized losses as of September 30, 2020. Gross unrealized losses were less than $0.1 million as of December 31, 2019. Gross unrealized gains and losses were recorded as a component of accumulated other comprehensive income.

The following table presents the cost or amortized cost and estimated fair value of bonds as of September 30, 2020 by contractual maturity ($ in millions). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	As of
	September 30, 2020
	Cost or Amortized Cost		Fair Value
Due in one year or less	$	0.1	$	0.1
Due after one year through five years	6.4		6.6
Due after five years through ten years	—		—
Due after ten years	—		—
Total	$	6.5	$	6.7


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Interest on cash and cash equivalents	$	0.1	$	0.9	$	0.9	$	1.7

Bonds	0.1		0.1		0.1		0.1
Short-term investments	—		0.1		0.3		0.3
Total net investment income	$	0.2	$	1.1	$	1.3	$	2.1

The Company did not have any pre-tax net realized capital gains or losses for the three and nine months ended September 30, 2020 and 2019.

There were no gross unrealized losses and related fair values for the Company's available-for-sale bond securities as of September 30, 2020. The following table presents the gross unrealized losses and related fair values for the Company’s available-for-sale bond securities, grouped by duration of time in a continuous unrealized loss position, as of December 31, 2019 ($ in millions):


	Less than 12 Months				12 Months or More				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
December 31, 2019
U.S. Government obligations	$	0.2	$	—	$	2.2	$	—	$	2.4	$	—
Total	$	0.2	$	—	$	2.2	$	—	$	2.4	$	—

There were no gross unrealized losses for U.S. Government Bonds for twelve months or more as of September 30, 2020. Gross unrealized losses for U.S. Government Bonds was less than $0.1 million for twelve months or more as of December 31, 2019.

The gross unrealized investment losses as of September 30, 2020 and December 31, 2019, were deemed to be temporary, based on, among other things:

•the duration of time and the relative magnitude to which fair values of these investments have been below their amortized cost was not indicative of an other than temporary impairment loss;

•the absence of compelling evidence that would cause the Company to call into question the financial condition or near-term prospects of the issuer of the investment; and

•the Company’s ability and intent to hold the investment for a period of time sufficient to allow for any anticipated recovery.

The Company may ultimately record a realized loss after having originally concluded that the decline in value was temporary. Risks and uncertainties are inherent in the methodology the Company uses to assess other-than-temporary declines in value. Risks and uncertainties could include, but are not limited to, incorrect assumptions about financial condition, liquidity or future prospects, inadequacy of any underlying collateral, and unfavorable changes in economic conditions or social trends, interest rates or credit ratings.