Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash flow from operating activities:
Net earnings	$ 4,401	$ 8,394
Adjustments to reconcile net earnings to net cash provided by operating activities:
Realized gains on investments	(53)	(11,107)
Depreciation expense	734	624
Stock based compensation expense	604	608
Amortization of deferred acquisition costs, net	474	(952)
Amortization of investment premium	826	969
Deferred income taxes	3,500	(345)
Change in operating assets and liabilities:
Accrued investment income	206	906
Premiums receivable	(821)	1,956
Reinsurance recoverable	2,615	1,654
Ceded unearned premiums	67	236
Funds held	2,165	(1,446)
Unpaid losses and loss adjustment expenses	5,489	18,084
Unearned premiums	(627)	5,419
Ceded premiums payable	(2,459)	2,833
Other liabilities	(1,636)	(3,425)
Other assets, net	(1,148)	2,073
Net cash provided by operating activities	14,337	26,481
Cash flow from investing activities:
Purchase of fixed maturities	(975)	(146,021)
Purchase of equity securities		(2,500)
Proceeds from sales and maturities of fixed maturities	31,566	111,202
Proceeds from sale of equity securities		656
Increase in short term investments	(42,227)	7,217
Purchases of fixed assets	(324)	(651)
Net cash used in investing activities	(11,960)	(30,097)
Cash flow from financing activities:
Shares repurchased to cover employment taxes	(292)	(289)
Proceeds from exercised stock options	44	383
Purchases of common stock pursuant to the Stock Repurchase Plan	(92)	(337)
Net cash used in financing activities	(340)	(243)
Net increase (decrease) in cash and cash equivalents	2,037	(3,859)
Cash and cash equivalents at beginning of period	43,481	38,307
Cash and cash equivalents at end of period	45,518	34,448
Supplemental disclosure of cash flow:
Income taxes paid	15	35
Interest paid	$ 420	$ 400