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Note 4 - Reserve for Losses and Loss Adjustment Expenses (Tables) | 9 Months Ended
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Sep. 30, 2025
Insurance [Abstract] |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | The following table represents a reconciliation of changes in the ending reserve balances for losses and loss adjustment expenses (“LAE”):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (in thousands) |  |  | (in thousands) |
Reserve for losses and LAE net of reinsurance recoverables at beginning of period |  | $ | 199,185 |  |  | $ | 118,761 |  |  | $ | 155,299 |  |  | $ | 97,653 |
Add: Balance acquired from FIA(1) |  |  | — |  |  |  | — |  |  |  | 6,788 |  |  |  | — |
Add: Incurred losses and LAE, net of reinsurance, related to: |  |  |  |  |  |  |  |  |  |  |  |
Current year |  |  | 78,946 |  |  |  | 40,536 |  |  |  | 174,703 |  |  |  | 100,225 |
Prior years |  |  | (6,134 | ) |  |  | (221 | ) |  |  | (16,964 | ) |  |  | (2,642 | )
Total incurred |  |  | 72,812 |  |  |  | 40,315 |  |  |  | 157,739 |  |  |  | 97,583 |
Deduct: Loss and LAE payments, net of reinsurance, related to: |  |  |  |  |  |  |  |  |  |  |  |
Current year |  |  | 15,655 |  |  |  | 16,153 |  |  |  | 38,312 |  |  |  | 27,909 |
Prior years |  |  | 12,629 |  |  |  | 5,649 |  |  |  | 37,801 |  |  |  | 30,053 |
Total payments |  |  | 28,284 |  |  |  | 21,802 |  |  |  | 76,113 |  |  |  | 57,962 |
Reserve for losses and LAE net of reinsurance recoverables at end of period |  |  | 243,713 |  |  |  | 137,274 |  |  |  | 243,713 |  |  |  | 137,274 |
Add: Reinsurance recoverables on unpaid losses and LAE at end of period |  |  | 440,559 |  |  |  | 360,164 |  |  |  | 440,559 |  |  |  | 360,164 |
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period |  | $ | 684,272 |  |  | $ | 497,438 |  |  | $ | 684,272 |  |  | $ | 497,438 |
(1) Represents amounts recognized in Reserve for losses and LAE net of reinsurance recoverables upon acquisition of FIA on 1/1/2025, in accordance with ASC 805, Business Combinations. See Note 12 for additional information regarding the acquisition.

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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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