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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets and Liabilities | The following tables provide information about our financial assets measured and reported at fair value as of June 30, 2025 and December 31, 2024:
| June 30, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
| (dollars in millions)
Assets |  |  |  |  |  |  |
Fixed maturities: |  |  |  |  |  |  |
U.S. Treasury securities | $ | 48.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 48.0 |
Municipal securities | — |  |  | 22.3 |  |  | — |  |  | 22.3 |
Corporate debt securities | — |  |  | 122.6 |  |  | — |  |  | 122.6 |
Asset-backed securities | — |  |  | 126.3 |  |  | — |  |  | 126.3 |
Total fixed maturities | 48.0 |  |  | 271.2 |  |  | — |  |  | 319.2 |
Short-term investments | 3.5 |  |  | — |  |  | — |  |  | 3.5 |
Cash equivalents | 349.5 |  |  | — |  |  | — |  |  | 349.5 |
Total assets at fair value | $ | 401.0 |  |  | $ | 271.2 |  |  | $ | — |  |  | $ | 672.2 |
| December 31, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
| (dollars in millions)
Assets |  |  |  |  |  |  |
Fixed maturities: |  |  |  |  |  |  |
U.S. Treasury securities and agencies | $ | 46.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 46.2 |
Municipal securities | — |  |  | 23.5 |  |  | — |  |  | 23.5 |
Corporate debt securities | — |  |  | 105.7 |  |  | — |  |  | 105.7 |
Asset-backed securities | — |  |  | 116.6 |  |  | — |  |  | 116.6 |
Total fixed maturities | 46.2 |  |  | 245.8 |  |  | — |  |  | 292.0 |
Short-term investments | 11.8 |  |  | 3.0 |  |  | — |  |  | 14.8 |
Cash equivalents | 342.4 |  |  | — |  |  | — |  |  | 342.4 |
Total assets at fair value | $ | 400.4 |  |  | $ | 248.8 |  |  | $ | — |  |  | $ | 649.2 |
Schedule of Carrying Amounts and Fair Values of Financial Instruments | As of June 30, 2025 and December 31, 2024, the carrying amounts and fair values of these financial instruments were as follows:
| Carrying Amount as of June 30, 2025 |  | Estimated Fair Value as of June 30, 2025 |  | Carrying Amount as of December 31, 2024 |  | Estimated Fair Value as of December 31, 2024
| (dollars in millions)
Long-term debt | $ | 200.1 |  |  | $ | 204.6 |  |  | $ | 200.1 |  |  | $ | 204.9 |

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- 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://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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