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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value

The following tables provide information about our financial assets measured and reported at fair value as of June 30, 2021 and December 31, 2020:

			June 30, 2021
			Level 1						Level 2						Level 3						Total Fair Value
			(dollars in millions)
Assets
Fixed maturities:
U.S. Treasury securities and agencies			$	21.6					$	—					$	—					$	21.6
Municipal securities			—						20.4						—						20.4
Corporate debt securities			—						50.7						—						50.7
Residential mortgage-backed securities			—						4.8						—						4.8
Commercial mortgage-backed securities			—						30.2						—						30.2
Other debt obligations			—						6.7						—						6.7
Total fixed maturities			21.6						112.8						—						134.4
Short-term investments			—						0.3						—						0.3
Cash equivalents			336.5						—						—						336.5
Total assets at fair value			$	358.1					$	113.1					$	—					$	471.2
			December 31, 2020
			Level 1						Level 2						Level 3						Total Fair Value
			(dollars in millions)
Assets
Fixed maturities:
U.S. Treasury securities and agencies			$	17.0					$	—					$	—					$	17.0
Municipal securities			—						23.4						—						23.4
Corporate debt securities			—						90.5						—						90.5
Residential mortgage-backed securities			—						7.8						—						7.8
Commercial mortgage-backed securities			—						58.4						—						58.4
Other debt obligations			—						23.9						—						23.9
Total fixed maturities			17.0						204.0						—						221.0
Short-term investments			2.2						0.8						—						3.0
Cash equivalents			568.4						—						—						568.4
Total assets at fair value			$	587.6					$	204.8					$	—					$	792.4

Schedule of carrying amounts and fair values of financial instruments

As of June 30, 2021 and December 31, 2020, the carrying amounts and fair values of these financial instruments were as follows:

			Carrying Amount as of June 30, 2021						Estimated Fair Value as of June 30, 2021						Carrying Amount as of December 31, 2020						Estimated Fair Value as of December 31, 2020
			(dollars in millions)
Long-term debt			$	197.1					$	215.1					$	188.2					$	209.0

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- References

No definition available.

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X

- Definition

Tabular disclosure of liabilities measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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