Investments (Tables)

6 Months Ended

Jun. 30, 2012

Investments [Abstract ]

Schedule of investments aggregated by type and industry

Investments were comprised of the following:

	June 30, 2012
	Carrying  Value		Gross Unrealized Gains		Gross Unrealized Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	27,203	$	4,297	$	-	$	22,906
Obligations of states and political subdivisions		17,694		2,434		-		15,260
Corporate securities:
Utilities and telecom		17,593		2,743		-		14,850
Financial services		40,522		1,865		553		39,210
Other business - diversified		62,382		5,338		112		57,156
Other consumer - diversified		50,200		7,121		64		43,143
Total corporate securities		170,697		17,067		729		154,359
Redeemable preferred stocks:
Utilities and telecom		1,504		4		-		1,500
Financial services		4,768		45		36		4,759
Other consumer - diversified		193		-		-		193
Total redeemable preferred stocks		6,465		49		36		6,452
Total fixed maturities		222,059		23,847		765		198,977
Equity securities:
Common and non-redeemable preferred stocks:
Utilities and telecom		1,333		369		-		964
Financial services		6,694		908		3		5,789
Other business - diversified		125		78		-		47
Other consumer - diversified		2,003		401		75		1,677
Total equity securities		10,155		1,756		78		8,477
Other invested assets		572		-		-		572
Policy loans		2,282		-		-		2,282
Real estate		38		-		-		38
Investments in unconsolidated trusts		1,238		-		-		1,238
Total investments	$	236,344	$	25,603	$	843	$	211,584

	December 31, 2011
	Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	35,922	$	4,186	$	-	$	31,736
Obligations of states and political subdivisions		17,030		1,757		-		15,273
Corporate securities:
Utilities and telecom		18,598		2,736		-		15,862
Financial services		34,900		725		1,346		35,521
Other business - diversified		56,553		5,043		152		51,662
Other consumer - diversified		46,908		6,170		12		40,750
Total corporate securities		156,959		14,674		1,510		143,795
Redeemable preferred stocks:
Utilities and telecom		2,668		168		-		2,500
Financial services		4,576		29		462		5,009
Other consumer - diversified		193		-		-		193
Total redeemable preferred stocks		7,437		197		462		7,702
Total fixed maturities		217,348		20,814		1,972		198,506
Equity securities:
Common and non-redeemable preferred stocks:
Utilities and telecom		1,203		239		-		964
Financial services		5,148		558		199		4,789
Other business - diversified		115		68		-		47
Other consumer - diversified		1,882		205		-		1,677
Total equity securities		8,348		1,070		199		7,477
Other invested assets		567		-		-		567
Policy loans		2,246		-		-		2,246
Real estate		38		-		-		38
Investments in unconsolidated trusts		1,238		-		-		1,238
Total investments	$	229,785	$	21,884	$	2,171	$	210,072

Amortized cost and carrying value of fixed maturities by contractual maturity

The amortized cost and carrying value of the Company's investments in fixed maturities at June 30, 2012 by contractual maturity were as follows.  Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	June 30, 2012
	Carrying Value		Amortized Cost
Due in one year or less	$	1,535	$	1,499
Due after one year through five years		4,619		4,220
Due after five years through ten years		37,670		35,723
Due after ten years		177,054		156,541
Varying maturities		1,181		994
Totals	$	222,059	$	198,977

Schedule of investments aggregated by industry

The following table sets forth the carrying value, amortized cost, and net unrealized gains or losses of the Company's investments aggregated by industry as of June 30, 2012 and December 31, 2011.

	June 30, 2012						December 31, 2011
	Carrying Value		Amortized Cost		Unrealized Gains		Carrying Value		Amortized Cost		Unrealized Gains (Losses)
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	27,203	$	22,906	$	4,297	$	35,922	$	31,736	$	4,186
Obligations of states and political subdivisions		17,694		15,260		2,434		17,030		15,273		1,757
Utilities and telecom		20,430		17,314		3,116		22,469		19,326		3,143
Financial services		51,984		49,758		2,226		44,624		45,319		(695	)
Other business - diversified		62,507		57,203		5,304		56,668		51,709		4,959
Other consumer - diversified		52,396		45,013		7,383		48,983		42,620		6,363
Other investments		4,130		4,130		-		4,089		4,089		-
Investments	$	236,344	$	211,584	$	24,760	$	229,785	$	210,072	$	19,713

Schedule of investment securities with continuous unrealized loss position

The following tables present the Company's unrealized loss aging for securities by type and length of time the security was in a continuous unrealized loss position as of June 30, 2012 and December 31, 2011.

	June 30, 2012
	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate securities	$	13,554	$	205	$	1,476	$	524	$	15,030	$	729
Redeemable preferred stocks		-		-		1,883		36		1,883		36
Common and non-redeemable preferred stocks		622		75		997		3		1,619		78
Total temporarily impaired securities	$	14,176	$	280	$	4,356	$	563	$	18,532	$	843

	December 31, 2011
	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate securities	$	30,675	$	1,112	$	1,602	$	398	$	32,277	$	1,510
Redeemable preferred stocks		-		-		2,807		462		2,807		462
Common and non-redeemable preferred stocks		824		176		1,245		23		2,069		199
Total temporarily impaired securities	$	31,499	$	1,288	$	5,654	$	883	$	37,153	$	2,171

Financial instruments carried at fair value measured on a recurring basis

As of June 30, 2012, financial instruments carried at fair value were measured on a recurring basis as summarized below:

	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Fixed maturities	$	-	$	219,960	$	2,099	$	222,059
Equity securities		3,660		6,495		-		10,155
Cash equivalents		18,598		-		-		18,598
Total	$	22,258	$	226,455	$	2,099	$	250,812
Liabilities:
Derivative	$	-	$	-	$	530	$	530

As of December 31, 2011, financial instruments carried at fair value were measured on a recurring basis as summarized below:

	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Fixed maturities	$	-	$	215,313	$	2,035	$	217,348
Equity securities		3,374		4,974		-		8,348
Cash equivalents		19,519		-		-		19,519
Total	$	22,893	$	220,287	$	2,035	$	245,215
Liabilities:
Derivative	$	-	$	-	$	876	$	876

Roll-forward of financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

The following is a roll-forward of the financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three month and six month periods ended June 30, 2012.

	Fixed Maturities			Derivative (Liability)
Balance, December 31, 2011	$	2,035		$	(876	)
Total unrealized gains (losses) included in comprehensive income		(61	)		153
Balance, March 31, 2012		1,974			(723	)
Total unrealized gains included in comprehensive income		125			193
Balance, June 30, 2012	$	2,099		$	(530	)