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Quarterly Results for 2021 and 2020 (Unaudited)
 12 Months Ended
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results for 2021 and 2020 (Unaudited) QUARTERLY RESULTS FOR 2021 AND 2020 (UNAUDITED)
The following table provides a summary of quarterly results for the periods presented (in thousands except per share data):
First
Quarter		Second
Quarter		Third
Quarter		Fourth
Quarter
For the Year Ended December 31, 2021
Premiums earned, net$243,305 $256,172 $264,654 $271,332 
Net investment income2,986 2,858 2,797 3,894 
Total revenues262,757 279,181 287,254 292,659 
Total expenses226,406 249,122 260,790 357,120 
Net income (loss)26,408 21,941 20,183 (48,125)
Basic earnings (loss) per share$0.85 $0.70 $0.65 $(1.54)
Diluted earnings (loss) per share$0.84 $0.70 $0.64 $(1.54)
For the Year Ended December 31, 2020
Premiums earned, net$220,829 $226,370 $234,191 $242,173 
Net investment income6,834 6,179 4,557 2,823 
Total revenues235,275 252,704 311,665 273,126 
Total expenses207,691 225,266 315,457 300,125 
Net income (loss)20,067 19,882 (3,169)(17,675)
Basic earnings (loss) per share$0.62 $0.62 $(0.10)$(0.57)
Diluted earnings (loss) per share$0.61 $0.62 $(0.10)$(0.57)
Total revenues in the fourth quarter of 2021 exceeded 2020 driven by an increase in premium rates offset by an increase in ceded earned premium reflecting both an increase in the exposures covered by reinsurance and its pricing. The increase in expenses was due to a higher amount of net losses and loss adjustment expenses recorded in the fourth quarter of 2021 compared to 2020 which was due primarily to an increase in loss experience in the 2021 accident year due to increased core losses as a result of rising construction and labor costs to settle claims and weather events in the current year and prior years’ adverse development.