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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table summarizes the provision for income taxes:

			Year Ended December 31,
			2020						2019						2018
Federal:
Current			$	(27,310)					$	58					$	(1,510)
Deferred			(6,611)						(4,520)						(1,240)
Benefit for Federal income tax expense			(33,921)						(4,462)						(2,750)
State:
Current			598						1,100						(654)
Deferred			(3,282)						241						(1,229)
Provision (benefit) for State income tax expense			(2,684)						1,341						(1,883)
Benefit for income taxes			$	(36,605)					$	(3,121)					$	(4,633)

Tax Expense Reconciliation

The actual income tax expense differs from the expected income tax expense computed by applying the combined applicable effective federal and state tax rates to income before the provision for income taxes as follows:

			Year Ended December 31,
			2020						2019						2018
Expected income tax expense at federal rate			$	(27,741)					$	(6,847)					$	(875)
State tax expense, net of federal deduction benefit			(3,603)						(882)						(1,205)
Dividend received deduction			(141)						(195)						(170)
Other permanent items			600						1,349						564
Prior period accrual adjustment			2,230						3,415						(1,391)
Net operating loss carryback rate benefit (1)			(12,566)						—						—
Municipal tax-exempt interest			(280)						(587)						(735)
Change in valuation allowance			5,505						989						—
Change in special loss discount account			—						—						(821)
Change in tax credit carryforward			(721)						—						—
Other, net			112						(363)						—
Reported income tax benefit			$	(36,605)					$	(3,121)					$	(4,633)

 (1) Pursuant to the recently enacted CARES Act.

Schedule of Deferred Tax Assets and Liabilities

The table below summarizes the significant components of our net deferred tax liability:

			December 31,
			2020						2019
Deferred tax assets:
Unearned premiums			$	16,404					$	19,482
Tax-related discount on loss reserve			4,027						2,300
R&D tax credit carryforward			1,686						—
Dual consolidated loss carryforward			6,511						2,181
Net operating loss carryforward			7,900						8,709
Other			1,189						1,451
Total pre-allowance deferred tax assets			37,717						34,123
Valuation allowance			(6,494)						(989)
Total deferred tax assets			31,223						33,134
Deferred tax liabilities:
Deferred acquisitions costs			(20,191)						(27,939)
Unrealized gain			(3,253)						(10,484)
Intangible assets			(4,553)						(5,631)
Prepaid expenses			(725)						(762)
Investments			(78)						(152)
Fixed assets			(5,618)						(2,728)
Outside basis in subsidiary			(974)						—
Total deferred tax liabilities			(35,392)						(47,696)
Net deferred tax liability			$	(4,169)					$	(14,562)

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits for the year ended December 31, 2020:

						December 31, 2020
Balance at January 1						$	—
Additions based on tax positions related to current year						683
Balance at December 31						$	683

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