4. Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of fair value measurements

	March 31, 2020
	Level 1	Level 2	Level 3	Total
Fixed-maturity securities available-for-sale
U.S. Treasury securities
and obligations of U.S.
government corporations
and agencies	$     5,136,240	$                  -	$                  -	$     5,136,240
Political subdivisions of
States, Territories and
Possessions	-	9,414,959	-	9,414,959
Corporate and other
bonds industrial and
miscellaneous	111,099,020	2,390,602	-	113,489,622
Residential mortgage backed securities	-	23,839,073	-	23,839,073
Total fixed maturities	116,235,260	35,644,634	-	151,879,894
Equity securities	18,368,893	-	-	18,368,893
Total investments	$ 134,604,153	$ 35,644,634	$                  -	$ 170,248,787

	December 31, 2019
	Level 1	Level 2	Level 3	Total
Fixed-maturity securities available-for-sale
U.S. Treasury securities
and obligations of U.S.
government corporations
and agencies	$     7,061,100	$                  -	$                  -	$     7,061,100
Political subdivisions of
States, Territories and
Possessions	-	9,321,812	-	9,321,812
Corporate and other
bonds industrial and
miscellaneous	123,010,772	2,611,267	-	125,622,039
Residential mortgage backed securities	-	26,231,230	-	26,231,230
Total fixed maturities	130,071,872	38,164,309	-	168,236,181
Equity securities	24,661,382	-	-	24,661,382
Total investments	$ 154,733,254	$ 38,164,309	$                  -	$ 192,897,563

Schedule of hedge fund investments

Category	March 31, 2020	December 31, 2019
Other Investments:
Hedge fund	$              1,987,522	$              2,584,913
Total	$              1,987,522	$              2,584,913

Fair value hierarchy of long-term debt

	March 31, 2020
	Level 1	Level 2	Level 3	Total
Long-term debt
Senior Notes due 2022	$                    -	$ 27,281,870	$                  -	$   27,281,870

	December 31, 2019
	Level 1	Level 2	Level 3	Total
Long-term debt
Senior Notes due 2022	$                    -	$ 27,313,994	$                  -	$   27,313,994