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Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2013
Significant Accounting Policies [Abstract]  
Cash and cash equivalents and restricted cash and cash equivalents
                                                                 
    Cash and cash equivalents  
    As of March 31, 2013     As of December 31, 2012  

Institution

   Cash     Money
Market Funds		     Total     % by
institution		     Cash     Money
Market Funds		     Total     % by
institution		  

U. S. Bank IT&C

   $ —       $ —       $ —         —       $ —       $ 40,463     $ 40,463       11.6 % 

SunTrust Bank

     4,996       14,292       19,288       4.0 %      773       1,055       1,828       0.5 % 

SunTrust Bank Escrow Services

     —         449,928       449,928       93.1 %      —         300,843       300,843       86.6 % 

Wells Fargo Bank N.A.

     3,666       —         3,666       0.8 %      1,991       3       1,994       0.6 % 

Deutsche Bank Securities, Inc.

     433       9,561       9,994       2.1 %      1,796       468       2,264       0.7 % 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 9,095     $ 473,781     $ 482,876       100.0 %    $ 4,560     $ 342,832     $ 347,392       100.0 % 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

The following table presents the amount of restricted cash and cash equivalents as of the periods presented (in thousands):

 

                                                                 
    Restricted cash and cash equivalents  
    As of March 31, 2013     As of December 31, 2012  

Institution

   Funds
held in
Trust		     State
Deposits		     Total     % by
institution		     Funds
held in
Trust		     State
Deposits		     Total     % by
institution		  

U. S. Bank IT&C

   $ —       $ 800     $ 800       30.2 %    $ —       $ 800     $ 800       2.4 % 

Bank of New York Mellon Trust Co.

     53       —         53       2.0 %      —         —         —         —    

Florida Department of Financial Services

     —         1,800       1,800       67.8 %      —         32,209       32,209       97.6 % 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 53     $ 2,600     $ 2,653       100.0 %    $ —       $ 33,009     $ 33,009       100.0 % 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Unsecured net amounts due from reinsurers whose aggregate balance exceeded 3% of the stockholders' equity
                 
    As of  
    March 31,     December 31,  

Reinsurer

   2013     2012  

Everest Reinsurance Company

   $ 35,812     $ 44,392  

Florida Hurricane Catastrophe Fund

     13,043       31,970  

Odyssey Reinsurance Company

     196,311       192,096  
   

 

 

    

 

 

  

Total (1)

   $ 245,166     $ 268,458  
   

 

 

    

 

 

  

 

(1) Amounts represent prepaid reinsurance premiums, reinsurance receivables, and net recoverables for paid and unpaid losses, including incurred but not reported (“IBNR”) reserves, loss adjustment expenses, and offsetting reinsurance payables.