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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Assets Measured for at Fair Value on Recurring Basis | The following tables set forth by level within the fair value hierarchy the Company’s assets measured at fair value on a recurring basis as of the dates presented (in thousands):
| Fair Value Measurements
| September 30, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Available-For-Sale Debt Securities: |  |  |  |  |  |  |
U.S. government obligations and agencies | $ | — |  |  | $ | 135,328 |  |  | $ | — |  |  | $ | 135,328 |
Corporate bonds | — |  |  | 435,698 |  |  | — |  |  | 435,698 |
Mortgage-backed and asset-backed securities | — |  |  | 253,002 |  |  | — |  |  | 253,002 |
Municipal bonds | — |  |  | 7,139 |  |  | — |  |  | 7,139 |
Redeemable preferred stock | — |  |  | 11,407 |  |  | — |  |  | 11,407 |
Equity Securities: |  |  |  |  |  |  |
Common stock | 2,240 |  |  | — |  |  | — |  |  | 2,240 |
Mutual funds | 50,460 |  |  | — |  |  | — |  |  | 50,460 |
Total assets accounted for at fair value | $ | 52,700 |  |  | $ | 842,574 |  |  | $ | — |  |  | $ | 895,274 |
| Fair Value Measurements
| December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Available-For-Sale Debt Securities: |  |  |  |  |  |  |
U.S. government obligations and agencies | $ | — |  |  | $ | 54,364 |  |  | $ | — |  |  | $ | 54,364 |
Corporate bonds | — |  |  | 476,218 |  |  | — |  |  | 476,218 |
Mortgage-backed and asset-backed securities | — |  |  | 311,079 |  |  | — |  |  | 311,079 |
Municipal bonds | — |  |  | 3,496 |  |  | — |  |  | 3,496 |
Redeemable preferred stock | — |  |  | 10,127 |  |  | — |  |  | 10,127 |
Equity Securities: |  |  |  |  |  |  |
Common stock | 2,377 |  |  | — |  |  | — |  |  | 2,377 |
Mutual funds | 41,340 |  |  | — |  |  | — |  |  | 41,340 |
Total assets accounted for at fair value | $ | 43,717 |  |  | $ | 855,284 |  |  | $ | — |  |  | $ | 899,001 |
Summarizes Carrying Value and Estimated Fair Values of Financial Instruments not Carried at Fair Value | The following table summarizes the carrying value and estimated fair values of the Company’s financial instruments not carried at fair value as of the dates presented (in thousands):
| September 30, 2020 |  | December 31, 2019
| Carrying Value |  | (Level 3) Estimated Fair Value |  | Carrying Value |  | (Level 3) Estimated Fair Value
Liabilities (debt): |  |  |  |  |  |  |
Surplus note | $ | 8,823 |  |  | $ | 8,650 |  |  | $ | 9,926 |  |  | $ | 9,365 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + 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 (b) -URI http://asc.fasb.org/extlink&oid=117815213&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 (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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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://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=121572278&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=117815213&loc=d3e19207-110258 + Details
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