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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2012
Commitments and Contingencies [Abstract] |
Commitments and Contingencies |
17. | Commitments and Contingencies
The Company is a party to various legal actions arising principally from claims made under insurance policies and contracts. Those actions are considered by the Company in estimating reserves for loss and loss adjustment expenses. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operations. The Company provides workers’ compensation insurance in several states that maintain second-injury funds. Incurred losses on qualifying claims that exceed certain amounts may be recovered from these state funds. There is no assurance that the applicable states will continue to provide funding under these programs. The Company manages risk on certain long-duration claims by settling these claims through the purchase of annuities from unaffiliated carriers. In the event these carriers are unable to meet their obligations under these contracts, the Company could be liable to the claimants. The following table summarizes (in thousands) the fair value of the annuities at December 31, 2012, that the Company has purchased to satisfy its obligations. The A.M. Best Company rating is shown parenthetically.
Life Insurance Company |  | Statement Value of Annuities Exceeding 1% of Statutory Surplus |
American General Life Insurance (A) |  | $ | 19,930 |
Pacific Life and Annuity Company (A+) |  |  | 15,451 |
New York Life Insurance Company (A++) |  |  | 12,436 |
Metropolitan Life Insurance Company (A+) |  |  | 11,826 |
John Hancock Life Insurance Company USA (A+) |  |  | 7,370 |
Aviva Life Insurance Company (A) |  |  | 7,085 |
Genworth Life Insurance Company (A) |  |  | 5,246 |
Liberty Life Assurance Company of Boston (A) |  |  | 4,733 |
Other |  |  | 11,835 |
|  | $ | 95,912 |
Substantially all of the annuities are issued or guaranteed by life insurance companies that have an A.M. Best Company rating of “A” (Excellent) or better. The Company leases equipment and office space under noncancelable operating leases. At December 31, 2012, future minimum lease payments are as follows (in thousands):
2013 |  | $ | 126 |
2014 |  |  | 50 |
2015 |  |  | 11 |
|  | $ | 187 |
Rental expense was $237,000 in 2012, $293,000 in 2011 and $475,000 in 2010.

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