Investments (Tables)

9 Months Ended

Sep. 30, 2020

Investments Debt And Equity Securities [Abstract]

Summary of Amortized Cost and Fair Values of Fixed Maturity Securities

At September 30, 2020, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses			Fair value
U.S. Treasury securities, obligations of U.S. Government    agencies and municipalities	$	28,733	$	537	$	(7	)	$	29,263
Corporate debt		6,389		249		(2	)		6,636
Total	$	35,122	$	786	$	(9	)	$	35,899

At December 31, 2019, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:

(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses			Fair value
U.S. Treasury securities, obligations of U.S. Government    agencies and municipalities	$	26,487	$	174	$	(39	)	$	26,622
Corporate debt		5,324		68		(8	)		5,384
Total	$	31,811	$	242	$	(47	)	$	32,006

Schedule of Investments' Gross Unrealized Loss and Fair Value

For securities in a loss position, the following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2020:

	Less than 12 Months					12 Months or More				Total
(in thousands)	Fair value		Unrealized losses			Fair value		Unrealized losses		Fair value		Unrealized losses
U.S. Treasury securities, obligations of U.S. Government    agencies and municipalities	$	3,993	$	(7	)	$	—	$	—	$	3,993	$	(7	)
Corporate debt		1,080		(2	)		—		—		1,080		(2	)
Total	$	5,073	$	(9	)	$	—	$	—	$	5,073	$	(9	)

For securities in a loss position, the following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2019:

	Less than 12 Months				12 Months or More					Total
(in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses			Fair value		Unrealized losses
U.S. Treasury securities, obligations of U.S. Government    agencies and municipalities	$	—	$	—	$	7,053	$	(39	)	$	7,053	$	(39	)
Corporate debt		—		—		998		(8	)		998		(8	)
Total	$	—	$	—	$	8,051	$	(47	)	$	8,051	$	(47	)

Amortized Cost and Fair Value of Fixed Maturity Securities by Contractual Maturity

The amortized cost and estimated fair value of the fixed maturity securities at September 30, 2020 by contractual maturity are set forth below:

(in thousands)	Amortized cost		Fair value
Years to maturity:
Due in one year or less	$	11,084	$	11,161
Due after one year through five years		23,038		23,741
Due after five years		1,000		997
Total	$	35,122	$	35,899

The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2019 by contractual maturity are set forth below:

(in thousands)	Amortized cost		Fair value
Years to maturity:
Due in one year or less	$	4,616	$	4,628
Due after one year through five years		27,195		27,378
Due after five years		—		—
Total	$	31,811	$	32,006