Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2013

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


	Cash and cash equivalents
	As of June 30, 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	$	—	$	—	$	—		0.0	%	$	—	$	40,463	$	40,463		11.6	%
SunTrust Bank		3,093		5,099		8,192		4.5	%		773		1,055		1,828		0.5	%
SunTrust Bank Escrow Services		—		69,548		69,548		38.5	%		—		300,843		300,843		86.6	%
Wells Fargo Bank N.A.		3,088		—		3,088		1.7	%		1,991		3		1,994		0.6	%
Deutsche Bank Securities, Inc.		—		37,692		37,692		20.8	%		1,796		468		2,264		0.7	%
State Street Bank and Trust Company		—		61,582		61,582		34.1	%		—		—		—		—
All Other Banking Institutions		755		—		755		0.4	%		—		—		—		—

Total	$	6,936	$	173,921	$	180,857		100.0	%	$	4,560	$	342,832	$	347,392		100.0	%

Restricted Cash and Cash Equivalents

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 June 30, 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 Stockholders' Equity

The following table presents the unsecured amounts due from the Company’s reinsurers whose aggregate balance exceeded 3% of the Company’s stockholders’ equity as of the periods presented (in thousands):

Current Ratings

As of

Reinsurer

AM Best
Company

Standard and
Poor’s Rating
Services

Moody’s
Investors
Service, Inc.

June 30,
2013

December 31,
2012

Everest Reinsurance Company

A+

83,281

44,392

Florida Hurricane Catastrophe Fund

n/a

—

31,970

Odyssey Reinsurance Company

A-

159,643

192,096

Total (1)

242,924

268,458

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