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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 and December 31, 2021:

			March 31, 2022
			Level 1						Level 2						Level 3						Total Fair Value
			(dollars in millions)
Assets
Fixed maturities:
U.S. Treasury securities and agencies			$	22.3					$	0.8					$	—					$	23.1
Municipal securities			—						19.7						—						19.7
Corporate debt securities			—						48.7						—						48.7
Residential mortgage-backed securities			—						2.7						—						2.7
Commercial mortgage-backed securities			—						31.9						—						31.9
Other debt obligations			—						3.0						—						3.0
Total fixed maturities			22.3						106.8						—						129.1
Short-term investments			—						0.5						—						0.5
Cash equivalents			124.1						—						—						124.1
Total assets at fair value			$	146.4					$	107.3					$	—					$	253.7
			December 31, 2021
			Level 1						Level 2						Level 3						Total Fair Value
			(dollars in millions)
Assets
Fixed maturities:
U.S. Treasury securities and agencies			$	22.6					$	0.7					$	—					$	23.3
Municipal securities			—						20.6						—						20.6
Corporate debt securities			—						48.7						—						48.7
Residential mortgage-backed securities			—						3.5						—						3.5
Commercial mortgage-backed securities			—						30.3						—						30.3
Other debt obligations			—						3.5						—						3.5
Total fixed maturities			22.6						107.3						—						129.9
Cash equivalents			127.0						—						—						127.0
Total assets at fair value			$	149.6					$	107.3					$	—					$	256.9

Schedule of carrying amounts and fair values of financial instruments

As of March 31, 2022 and December 31, 2021, the carrying amounts and fair values of these financial instruments were as follows:

			Carrying Amount as of March 31, 2022						Estimated Fair Value as of March 31, 2022						Carrying Amount as of December 31, 2021						Estimated Fair Value as of December 31, 2021
			(dollars in millions)
Long-term debt			$	290.8					$	304.0					$	—					$	—

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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