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Note 9 - Leases | 12 Months Ended
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Dec. 31, 2025
Disclosure Text Block [Abstract] |
Lessee, Operating Leases [Text Block] | 9. Leases The Company has operating leases for office space used to conduct its insurance operations and administration activities. Operating lease right-of-use (“ROU”) assets are a component of prepaid expenses and other assets and operating lease liabilities are included in accounts payable and other accrued liabilities in the Company’s consolidated balance sheets. The Company determines whether an arrangement is a lease at its inception. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. To determine the present value of lease payments, the Company uses its incremental borrowing rate, which it calculates based on information available at the lease commencement date. For certain leases that contain options to extend, the options are included in lease liabilities only if the company is reasonably certain the option will be exercised. Variable lease costs such as parking are expensed in the period the obligation is incurred and are not included in the Company’s operating lease liability. The Company’s lease agreements do not contain any residual value guarantees. Operating lease costs for the years ended December 31, 2025, 2024 and 2023 were $1.1 million, $0.8 million, and $0.8 million, respectively. Operating lease costs are comprised of rental expense for operating leases. Lease expense is recognized on a straight-line basis over the lease term and is included as a component of other underwriting expenses in the Company’s consolidated statements of income and comprehensive income. The following tables provide supplementary information about the Company’s leases:
Year ended December 31, 2025 |  | ($ in thousands) |
Operating cash outflows from operating leases |  | $ | 708 |
December 31, 2025 |  | ($ in thousands) |
Operating lease ROU assets |  | $ | 6,879 |
Operating lease liabilities |  | $ | 7,091 |
Weighted-average remaining lease term on operating leases (years) |  |  | 8.3 |
Weighted-average discount rate on operating leases |  |  | 5.1 | %
Future minimum lease payments as of December 31, 2025 are as follows:
Years ending December 31, |  | ($ in thousands) |
2026 |  |  | 927 |
2027 |  |  | 927 |
2028 |  |  | 1,338 |
2029 |  |  | 1,378 |
2030 |  |  | 1,419 |
Thereafter |  |  | 4,587 |
Total future minimum lease payments |  | $ | 10,576 |
Less: imputed interest |  |  | (3,485 | )
Total operating lease liability |  | $ | 7,091 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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