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Note 21 - Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

21. Commitments and Contingencies

Litigation

The Company is subject to legal proceedings arising from the normal conduct of its business. In the opinion of management, any ultimate liability that may arise from these proceedings will not have a material effect on the Company’s financial position.

Letters of Credit and Trusts

As of December 31, 2025, the Company has one irrevocable standby letter of credit for the benefit of ceding insurance companies to secure the unearned premium assumed by PSIC. The bank letters of credit amount to a total of $4.1 million and may renew if the Company continues to assume premium from these insurance companies. The letter of credit is collateralized by the Company’s Credit Agreement.

As of December 31, 2025, the Company has a letter of credit for the benefit of the State of California to secured unearned premium and loss reserves incurred in the worker’s compensation program. The letter of credit amounts to $142.3 million and are collateralized by the Company’s available-for-sale investments.

In addition, the Company has established seven Regulation 114 Trust accounts for the benefit of ceding insurance companies to secure the unearned premium assumed by PSIC. As of December 31, 2025 the trust had a market value of $22.6 million.