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3. Investments (Tables)
 3 Months Ended
Mar. 31, 2020
Investments [Abstract]  
Schedule of available for sale securities
  March 31, 2020
                       Net 
   Cost or      Gross     Gross Unrealized Losses     Estimated     Unrealized  
   Amortized     Unrealized     Less than 12     More than 12     Fair     Gains/ 
 Category    Cost     Gains     Months     Months     Value     (Losses)  
   
 Fixed-Maturity Securities:                       
 U.S. Treasury securities and                       
 obligations of U.S. government                       
 corporations and agencies   $       5,033,879    $      102,361    $                  -    $                  -    $       5,136,240    $      102,361
                       
 Political subdivisions of States,                       
 Territories and Possessions            9,139,221            275,738                        -                        -             9,414,959            275,738
                       
 Corporate and other bonds                        
 Industrial and miscellaneous        112,871,652         2,876,429        (2,258,459)                        -         113,489,622            617,970
                       
 Residential mortgage and other                       
 asset backed securities (1)          25,631,027            292,497           (938,478)        (1,145,973)           23,839,073        (1,791,954)
 Total    $   152,675,779    $   3,547,025    $  (3,196,937)    $  (1,145,973)    $   151,879,894    $     (795,885)

 

  (1) KICO has placed certain residential mortgage backed securities as eligible collateral in a designated custodian account related to its membership in the Federal Home Loan Bank of New York ("FHLBNY") (see Note 7). The eligible collateral would be pledged to FHLBNY if KICO draws an advance from the FHLBNY credit line. As of March 31, 2020, the estimated fair value of the eligible investments was approximately $7,287,000. KICO will retain all rights regarding all securities if pledged as collateral. As of March 31, 2020, there was no outstanding balance on the FHLBNY credit line.

 

  December 31, 2019
                       Net 
   Cost or      Gross     Gross Unrealized Losses     Estimated     Unrealized  
   Amortized     Unrealized     Less than 12     More than 12     Fair     Gains 
 Category    Cost     Gains     Months     Months     Value       
   
 Fixed-Maturity Securities:                       
 U.S. Treasury securities and                       
 obligations of U.S. government                       
 corporations and agencies   $     7,037,856    $        23,244    $                  -    $                  -    $     7,061,100    $          23,244
                       
 Political subdivisions of States,                       
 Territories and Possessions          9,151,293            181,835             (11,316)                        -           9,321,812              170,519
                       
 Corporate and other bonds                        
 Industrial and miscellaneous      119,874,573         5,777,624             (16,685)             (13,473)       125,622,039           5,747,466
                       
 Residential mortgage and other                       
 asset backed securities (1)        26,138,633            437,841             (68,793)           (276,451)         26,231,230                92,597
 Total    $ 162,202,355    $   6,420,544    $       (96,794)    $     (289,924)    $ 168,236,181    $     6,033,826

 

  (1) KICO has placed certain residential mortgage backed securities as eligible collateral in a designated custodian account related to its membership in the FHLBNY (see Note 7). The eligible collateral would be pledged to FHLBNY if KICO draws an advance from the FHLBNY credit line. As of December 31, 2019, the estimated fair value of the eligible investments was approximately $7,284,000. KICO will retain all rights regarding all securities if pledged as collateral. As of December 31, 2019, there was no outstanding balance on the FHLBNY credit line.
Schedule of available for sale securities by contractual maturity
  March 31, 2020   December 31, 2019
  Amortized   Estimated   Amortized   Estimated
 Remaining Time to Maturity   Cost    Fair Value    Cost    Fair Value 
       
 Less than one year    $    12,900,401    $    12,937,879    $    11,986,401    $        12,025,804
 One to five years          44,309,018          44,695,085          49,715,422              51,000,025
 Five to ten years          65,324,015          66,293,522          69,850,104              74,410,275
 More than 10 years            4,511,318            4,114,335            4,511,795                4,568,847
 Residential mortgage and other asset backed securities         25,631,027          23,839,073          26,138,633              26,231,230
 Total    $  152,675,779    $  151,879,894    $  162,202,355    $      168,236,181
               
Schedule of equity securities
  March 31, 2020
      Gross   Gross      
       Unrealized     Unrealized     Estimated   
 Category    Cost     Gains     Losses     Fair Value   
   
 Equity Securities:                 
 Preferred stocks    $     7,535,068    $          7,870    $  (1,113,367)    $     6,429,571  
 Common stocks, mutual funds,                 
 and exchange traded funds        14,894,969            137,242        (3,092,889)         11,939,322  
 Total    $   22,430,037    $      145,112    $  (4,206,256)    $   18,368,893  

 

  December 31, 2019
       Gross     Gross     Estimated   
       Unrealized     Unrealized       
 Category    Cost     Gains     Losses     Fair Value   
   
 Equity Securities:                 
 Preferred stocks    $     8,374,424    $      339,257    $       (11,794)    $     8,701,887  
 Common stocks, mutual funds,                 
 and exchange traded funds        14,250,244         1,982,878           (273,627)         15,959,495  
 Total    $   22,624,668    $   2,322,135    $     (285,421)    $   24,661,382  
Schedule of other investments
  March 31, 2020   December 31, 2019
       Gross              Gross      
       Unrealized     Estimated         Unrealized     Estimated 
 Category    Cost     Losses     Fair Value     Cost     Gains     Fair Value 
             
 Other Investments:                       
 Hedge fund   $ 1,999,381    $     (11,859)    $ 1,987,522    $ 1,999,381    $    585,532    $   2,584,913
 Total    $ 1,999,381    $     (11,859)    $ 1,987,522    $ 1,999,381    $    585,532    $   2,584,913
Schedule of held to maturity securities
  March 31, 2020
                       
   Cost or      Gross     Gross Unrealized Losses     Estimated     Net 
   Amortized     Unrealized     Less than 12     More than 12     Fair     Unrealized  
 Category    Cost     Gains     Months     Months     Value     Gains 
   
 Held-to-Maturity Securities:                       
 U.S. Treasury securities  $729,561   $162,483    $                  -    $                  -    $      892,044    $      162,483
                       
 Political subdivisions of States,                       
 Territories and Possessions           998,573              43,857                        -                        -         1,042,430              43,857
                       
 Corporate and other bonds                        
 Industrial and miscellaneous        2,098,270            106,196               (2,230)                        -         2,202,236            103,966
                       
 Total   $   3,826,404    $      312,536    $         (2,230)    $                  -    $   4,136,710    $      310,306

 

  December 31, 2019
                       
   Cost or      Gross     Gross Unrealized Losses     Estimated     Net 
   Amortized     Unrealized     Less than 12     More than 12     Fair     Unrealized  
 Category    Cost     Gains     Months     Months     Value     Gains 
   
 Held-to-Maturity Securities:                       
 U.S. Treasury securities   $      729,550    $      151,002    $                  -    $                  -    $      880,552    $      151,002
                       
 Political subdivisions of States,                       
 Territories and Possessions           998,619              51,021                        -                        -         1,049,640              51,021
                       
 Corporate and other bonds                        
 Industrial and miscellaneous        2,097,783              97,627                  (835)                        -         2,194,575              96,792
                       
 Total   $   3,825,952    $      299,650    $            (835)    $                  -    $   4,124,767    $      298,815

 
Schedule of held to maturity securities by contractual maturity
  March 31, 2020   December 31, 2019
  Amortized   Estimated   Amortized   Estimated
 Remaining Time to Maturity   Cost    Fair Value    Cost    Fair Value 
       
 Less than one year    $        500,000    $        497,770    $        500,000    $             499,165
 One to five years           2,099,588           2,220,096           2,099,268                2,215,640
 Five to ten years              620,255              664,805              620,134                   655,923
 More than 10 years              606,561              754,039              606,550                   754,039
 Total    $     3,826,404    $     4,136,710    $     3,825,952    $          4,124,767
               
Schedule of investment income
   Three months ended 
   March 31, 
   2020     2019 
   
 Income:       
 Fixed-maturity securities    $     1,447,938    $     1,526,870
 Equity securities              253,073              207,144
 Cash and cash equivalents                44,223                40,401
 Total           1,745,234           1,774,415
 Expenses:        
 Investment expenses                79,390              150,703
 Net investment income    $     1,665,844    $     1,623,712
       
Schedule of securities with realized gains and losses on investments
   Three months ended 
   
   March 31, 
   2020     2019 
 Realized Gains (Losses)       
   
 Fixed-maturity securities:       
 Gross realized gains    $      204,225    $          6,002
 Gross realized losses           (32,342)             (28,433)
           171,883             (22,431)
       
 Equity securities:       
 Gross realized gains           316,513                3,200
 Gross realized losses          (213,815)               (5,961)
           102,698               (2,761)
       
 Net realized gains (losses)           274,581             (25,192)
       
 Unrealized (Losses) Gains       
       
 Equity securities:       
 Gross gains                      -         1,767,835
 Gross losses       (6,121,608)                        -
      (6,121,608)         1,767,835
       
 Other investments:       
 Gross gains                      -            292,720
 Gross losses          (597,391)                        -
         (597,391)            292,720
       
 Net unrealized (losses) gains       (6,718,999)         2,060,555
       
 Net (losses) gains on investments   $ (6,444,418)    $   2,035,363
Schedule of securities with unrealized losses

    March 31, 2020                              
      Less than 12 months             12 months or more           Total      
     Estimated            No. of      Estimated            No. of      Estimated        
     Fair      Unrealized      Positions      Fair      Unrealized      Positions      Fair      Unrealized  
 Category    Value      Losses      Held      Value      Losses      Held      Value      Losses  
                                                 
Fixed-Maturity Securities:                                                
 U.S. Treasury securities                                                
 and obligations of U.S.                                                
 government corporations                                                
 and agencies   $ -     $ -       -     $ -     $ -       -     $ -     $ -  
                                                                 
 Political subdivisions of                                                                
 States, Territories and                                                                
 Possessions     -       -       -       -       -       -       -       -  
                                                                 
 Corporate and other                                                                
 bonds industrial and                                                                
 miscellaneous     35,409,999       (2,258,459 )     50       -       -       -       35,409,999       (2,258,459 )
                                                                 
 Residential mortgage and other                                                                
 asset backed securities     6,067,674       (938,478 )     13       10,286,307       (1,145,973 )     17       16,353,981       (2,084,451 )
                                                                 
 Total fixed-maturity                                                                
 securities   $ 41,477,673     $ (3,196,937 )     63     $ 10,286,307     $ (1,145,973 )     17     $ 51,763,980     $ (4,342,910 )

 

  December 31, 2019
  Less than 12 months   12 months or more   Total
   Estimated         No. of     Estimated         No. of     Estimated     
   Fair     Unrealized     Positions     Fair     Unrealized     Positions     Fair     Unrealized 
 Category    Value     Losses     Held     Value     Losses     Held     Value     Losses 
   
 Fixed-Maturity Securities:                               
 U.S. Treasury securities                               
 and obligations of U.S.                               
 government corporations                               
 and agencies   $                     -    $                  -              -    $                  -    $                  -              -    $                    -    $                  -
                               
 Political subdivisions of                               
 States, Territories and                               
 Possessions           3,067,428            (11,316)              3                        -                        -              -           3,067,428            (11,316)
                               
 Corporate and other                             
 bonds industrial and                               
 miscellaneous           3,730,478            (16,685)              7         1,300,915            (13,473)              3           5,031,393            (30,158)
                               
 Residential mortgage and other                               
 asset backed securities           5,862,636            (68,793)              5       13,534,768          (276,451)            21         19,397,404          (345,244)
                               
 Total fixed-maturity                               
 securities    $    12,660,542    $      (96,794)            15    $ 14,835,683    $    (289,924)            24    $   27,496,225    $    (386,718)