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SEGMENTS
 9 Months Ended
Sep. 30, 2020
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
SEGMENTS SEGMENTS
The Company’s property and casualty insurance operations comprise one business segment. The property and casualty insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, homeowners (including mobile homeowners) and other liability. 

Management organizes the business utilizing a niche strategy focusing on lower valued dwellings and older homes that can be difficult to insure in the standard insurance market.  Our chief decision makers (Chief Executive Officer, Chief Financial Officer and subsidiary President) review results and operating plans making decisions on resource allocations on a company-wide basis.  The Company’s products are primarily produced through independent agents within the states in which we operate.  

The Company’s life and accident and health operations comprise the second business segment.  The life and accident and health insurance segment consists of two lines of business: traditional life insurance and supplemental accident and health insurance.

Total assets by industry segment at September 30, 2020 and December 31, 2019 are summarized below:
($ in thousands)

Assets by industry segment
TotalP&C Insurance OperationsLife Insurance OperationsNon-Insurance Operations
    
September 30, 2020$155,556 $84,280 $65,566 $5,710 
December 31, 2019$153,934 $83,917 $65,605 $4,412 
Net income (loss) by business segment for the three months ended September 30, 2020 and 2019 is summarized below:
($ in thousands)
 
Three months ended
September 30, 2020
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter- company EliminationsTotal
REVENUE    
Net premiums earned$13,786 $1,503 $— $— $15,289 
Net investment income389 614 16 (135)884 
Investment gains678 747 5 — 1,430 
Other income162 334 274 (608)162 
 15,015 3,198 295 (743)17,765 
BENEFITS AND EXPENSES    
Policyholder benefits paid11,851 1,646 — (194)13,303 
Amortization of deferred policy acquisition costs681 155 — — 836 
Commissions1,431 62 — — 1,493 
General and administrative expenses2,027 554 280 (549)2,312 
Taxes, licenses and fees564 40 — — 604 
Interest expense— 10 190 — 200 
 16,554 2,467 470 (743)18,748 
Income (Loss) Before Income Taxes(1,539)731 (175)— (983)
INCOME TAX EXPENSE (BENEFIT)(347)179 (37)— (205)
Net Income (Loss)$(1,192)$552 $(138)$— $(778)

($ in thousands)
 
Three months ended
September 30, 2019
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter-company
Eliminations		Total
REVENUE   
Net premiums earned$13,628 $1,581 $— $— $15,209 
Net investment income404 708 12 (135)989 
Investment gains (losses)(50)(68)1 — (117)
Other income148 226 266 (492)148 
 14,130 2,447 279 (627)16,229 
BENEFITS AND EXPENSES    
Policyholder benefits paid8,564 1,303 — (117)9,750 
Amortization of deferred policy acquisition costs681 124 — — 805 
Commissions1,919 87 — — 2,006 
General and administrative expenses2,070 531 135 (510)2,226 
Taxes, licenses and fees528 76 — — 604 
Interest expense— 13 280 — 293 
 13,762 2,134 415 (627)15,684 
Income (Loss) Before Income Taxes368 313 (136)— 545 
INCOME TAX EXPENSE (BENEFIT)76 67 (28)— 115 
Net Income (Loss)$292 $246 $(108)$— $430 
Net income (loss) by business segment for the nine months ended September 30, 2020 and 2019 is summarized below:
($ in thousands)
 
Nine months ended
September 30, 2020
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter- company EliminationsTotal
REVENUE    
Net premiums earned$40,996 $4,420 $— $— $45,416 
Net investment income1,169 2,003 42 (405)2,809 
Investment gains (losses)693 296 (1)— 988 
Other income449 921 796 (1,716)450 
 43,307 7,640 837 (2,121)49,663 
BENEFITS AND EXPENSES    
Policyholder benefits paid37,264 3,908 — (550)40,622 
Amortization of deferred policy acquisition costs2,043 706 — — 2,749 
Commissions5,411 204 — — 5,615 
General and administrative expenses5,913 1,396 461 (1,571)6,199 
Taxes, licenses and fees1,740 179 — — 1,919 
Interest expense— 29 631 — 660 
 52,371 6,422 1,092 (2,121)57,764 
Income (Loss) Before Income Taxes(9,064)1,218 (255)— (8,101)
INCOME TAX EXPENSE (BENEFIT)(1,937)254 (54)— (1,737)
Net Income (Loss)$(7,127)$964 $(201)$— $(6,364)

($ in thousands)
 
Nine months ended
September 30, 2019
P&C Insurance OperationsLife Insurance OperationsNon-Insurance OperationsInter-company
Eliminations		Total
REVENUE   
Net premiums earned$40,356 $4,561 $— $— $44,917 
Net investment income1,255 2,022 36 (405)2,908 
Investment gains1,991 109 20 — 2,120 
Other income430 689 785 (1,464)440 
 44,032 7,381 841 (1,869)50,385 
BENEFITS AND EXPENSES    
Policyholder benefits paid26,112 3,916 — (355)29,673 
Amortization of deferred policy acquisition costs2,043 581 — — 2,624 
Commissions5,795 222 — — 6,017 
General and administrative expenses6,200 1,471 817 (1,514)6,974 
Taxes, licenses and fees1,659 231 — — 1,890 
Interest expense— 34 845 — 879 
 41,809 6,455 1,662 (1,869)48,057 
Income (Loss) Before Income Taxes2,223 926 (821)— 2,328 
INCOME TAX EXPENSE (BENEFIT)33 186 (177)— 42 
Net Income (Loss)$2,190 $740 $(644)$— $2,286 
The following table presents the Company’s gross and net premiums written for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively:
($ in thousands)Three months ended
September 30,		Nine months ended
September 30,
 2020201920202019
Life, accident and health operations premiums written:   
Traditional life insurance$1,003 $1,062 $3,086 $3,151 
Accident and health insurance538 623 1,330 1,376 
Gross life, accident and health1,541 1,685 4,416 4,527 
Reinsurance premium ceded(14)(11)(71)(64)
Net life, accident and health premiums written$1,527 $1,674 $4,345 $4,463 
Property and Casualty operations premiums written:   
Dwelling fire & extended coverage$10,316 $9,927 $31,710 $30,266 
Homeowners (Including mobile homeowners)5,205 5,235 15,933 16,098 
Other liability556 561 1,747 1,743 
Gross property and casualty16,077 15,723 49,390 48,107 
Reinsurance premium ceded(1,999)(1,930)(5,547)(5,155)
Net property and casualty written$14,078 $13,793 $43,843 $42,952 
Consolidated gross premiums written$17,618 $17,408 $53,806 $52,634 
Reinsurance premium ceded(2,013)(1,941)(5,618)(5,219)
Consolidated net premiums written$15,605 $15,467 $48,188 $47,415 

The following table presents the Company’s gross and net premiums earned for the property and casualty segment and the life and accident and health segment for the three and nine months ended September 30, 2020 and 2019, respectively:
($ in thousands)Three months ended
September 30,		Nine months ended
September 30,
 2020201920202019
Life, accident and health operations premiums earned:   
Traditional life insurance$978 $1,008 $3,165 $3,249 
Accident and health insurance539 584 1,326 1,376 
Gross life, accident and health1,517 1,592 4,491 4,625 
Reinsurance premium ceded(14)(11)(71)(64)
Net life, accident and health premiums earned$1,503 $1,581 $4,420 $4,561 
Property and Casualty operations premiums earned:
Dwelling fire & extended coverage$10,103 $9,644 $29,591 $28,401 
Homeowners (Including mobile homeowners)5,120 5,178 15,281 15,585 
Other liability562 560 1,671 1,654 
Gross property and casualty15,785 15,382 46,543 45,640 
Reinsurance premium ceded(1,999)(1,754)(5,547)(5,284)
Net property and casualty earned$13,786 $13,628 $40,996 $40,356 
Consolidated gross premiums earned$17,302 $16,974 $51,034 $50,265 
Reinsurance premium ceded(2,013)(1,765)(5,618)(5,348)
Consolidated net premiums earned$15,289 $15,209 $45,416 $44,917