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Investments (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2020 | Dec. 31, 2019
Investments |  |
Amortized cost and fair values | The following tables present cost or amortized cost and fair values of investments as of September 30, 2020 and December 31, 2019 ($ in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Cost or | ​ | Gross Unrealized | ​ | Fair
​ |  | Amortized Cost |  | Gains |  | Losses |  | Value
September 30, 2020 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government obligations | ​ | $ | 6.5 | ​ | $ | 0.2 | ​ | $ | — | ​ | $ | 6.7
Total | ​ | $ | 6.5 | ​ | $ | 0.2 | ​ | $ | — | ​ | $ | 6.7
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2019 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. Government obligations | ​ | $ | 5.8 | ​ | $ | 0.1 | ​ | $ | — | ​ | $ | 5.9
Total | ​ | $ | 5.8 | ​ | $ | 0.1 | ​ | $ | — | ​ | $ | 5.9
​ | The following tables present cost or amortized cost and fair values of investments at December 31, 2018 and 2019, respectively ($ in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Cost or | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Fair
​ |  | Cost |  | Gains |  | Losses |  | Value
December 31, 2018 | ​ | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |
U.S. Government obligations | ​ | $ | 3.2 | ​ | $ | — | ​ | $ | — | ​ | $ | 3.2
Total | ​ | $ | 3.2 | ​ | $ | — | ​ | $ | — | ​ | $ | 3.2
December 31, 2019 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. Government obligations | ​ | $ | 5.8 | ​ | $ | 0.1 | ​ | $ | — | ​ | $ | 5.9
Total | ​ | $ | 5.8 | ​ | $ | 0.1 | ​ | $ | — | ​ | $ | 5.9
​
Contractual maturities of bonds | The following table presents the cost or amortized cost and estimated fair value of bonds as of September 30, 2020 by contractual maturity ($ in millions). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | September 30, 2020
​ |  | Cost or |  | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
​ | ​ | Cost | ​ | Fair Value
Due in one year or less | ​ | $ | 0.1 | ​ | $ | 0.1
Due after one year through five years | ​ |  | 6.4 | ​ |  | 6.6
Due after five years through ten years | ​ |  | — | ​ |  | —
Due after ten years | ​ |  | — | ​ |  | —
Total | ​ | $ | 6.5 | ​ | $ | 6.7
​ | The following table presents the cost or amortized cost and estimated fair value of bonds as of December 31, 2019 by contractual maturity ($ in millions). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019
​ | ​ | Cost or | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
​ |  | Cost |  | Fair Value
Due in one year or less | ​ | $ | 2.3 |  | $ | 2.3
Due after one year through five years | ​ |  | 3.5 | ​ |  | 3.6
Due after five years through ten years | ​ |  | — | ​ |  | —
Due after ten years | ​ |  | — | ​ |  | —
Total | ​ | $ | 5.8 | ​ | $ | 5.9
​
Aging of gross unrealized losses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
​ |  | ​ | ​ |  | Gross |  | ​ | ​ |  | Gross |  | ​ | ​ |  | Gross
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
​ | ​ | Fair Value | ​ | Losses | ​ | Fair Value | ​ | Losses | ​ | Fair Value | ​ | Losses
December 31, 2019 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government obligations | ​ | $ | 0.2 | ​ | $ | — | ​ | $ | 2.2 | ​ | $ | — | ​ | $ | 2.4 | ​ | $ | —
Total | ​ | $ | 0.2 | ​ | $ | — | ​ | $ | 2.2 | ​ | $ | — | ​ | $ | 2.4 | ​ | $ | —
​ | The following tables present the gross unrealized losses and related fair values for the Company’s available-for-sale bond securities, grouped by duration of time in a continuous unrealized loss position, as of December 31, 2018 and 2019 ($ in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
​ |  | ​ | ​ |  | Gross |  | ​ | ​ |  | Gross |  | ​ | ​ |  | Gross
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | Unrealized
​ |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
December 31, 2018 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ | ​ |  | ​ |
U.S. Government obligations | ​ | $ | — | ​ | $ | — | ​ | $ | 3.2 | ​ | $ | — | ​ | $ | 3.2 | ​ | $ | —
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 3.2 | ​ | $ | — | ​ | $ | 3.2 | ​ | $ | —
December 31, 2019 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. Government obligations | ​ | $ | 0.2 | ​ | $ | — | ​ | $ | 2.2 | ​ | $ | — | ​ | $ | 2.4 | ​ | $ | —
Total | ​ | $ | 0.2 | ​ | $ | — | ​ | $ | 2.2 | ​ | $ | — | ​ | $ | 2.4 | ​ | $ | —
​
Schedule of carrying value of bonds deposited |  | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
U.S. State |  | 2018 |  | 2019
New York | ​ | $ | 1.6 | ​ | $ | 2.1
Washington | ​ |  | — | ​ |  | 1.1
Colorado | ​ |  | — | ​ |  | 1.1
North Carolina | ​ |  | 0.3 | ​ |  | 0.3
New Mexico | ​ |  | 0.3 | ​ |  | 0.3
Virginia | ​ |  | 0.3 | ​ |  | 0.3
Nevada | ​ |  | 0.2 | ​ |  | 0.2
Arkansas | ​ |  | 0.1 | ​ |  | 0.1
Massachusetts | ​ |  | — | ​ |  | 0.1
Total | ​ | $ | 2.8 | ​ | $ | 5.6
​
Net investment income | An analysis of net investment income follows ($ in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
Interest on cash and cash equivalents | ​ | $ | 0.1 | ​ | $ | 0.9 | ​ | $ | 0.9 | ​ | $ | 1.7
Bonds | ​ |  | 0.1 | ​ |  | 0.1 | ​ |  | 0.1 | ​ |  | 0.1
Short-term investments | ​ |  | — | ​ |  | 0.1 | ​ |  | 0.3 | ​ |  | 0.3
Total net investment income | ​ | $ | 0.2 | ​ | $ | 1.1 | ​ | $ | 1.3 | ​ | $ | 2.1
​ | An analysis of net investment income follows ($ in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ | ​ | 2018 | ​ | 2019
Interest on cash and cash equivalents |  | $ | 1.0 |  | $ | 2.8
Bonds | ​ |  | 0.1 | ​ |  | 0.1
Short‑term investments | ​ |  | 0.2 | ​ |  | 0.5
Net investment income | ​ | $ | 1.3 | ​ | $ | 3.4
​

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
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