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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Litigation We are involved in claims-related legal actions arising in the ordinary course of business. We accrue amounts resulting from claims-related legal actions in unpaid losses and LAE during the period that we determine an unfavorable outcome becomes probable and we can estimate the amounts. Management makes revisions to our estimates based on its analysis of subsequent information that we receive regarding various factors, including: (i) per claim information; (ii) company and industry historical loss experience; (iii) judicial decisions and legal developments in the awarding of damages; and (iv) trends in general economic conditions, including the effects of inflation. At September 30, 2021, we were not involved in any material non-claims-related legal actions. Commitments to fund partnership investments We have fully funded three limited partnership investments and have committed to fund our remaining five limited partnership investments. The amount of unfunded commitments was $1,974,000 and $2,056,000 at September 30, 2021 and December 31, 2020, respectively. Leases We, as lessee, have entered into leases of commercial office space of various term lengths. In addition to office space, we lease office equipment and a parking lot under operating leases and vehicles under finance leases. The classification of operating and finance lease asset and liability balances within the Unaudited Condensed Consolidated Balance Sheets was as follows:
|  | Financial Statement Line |  | September 30, 2021 |  | December 31, 2020
Assets |  |  |  |  |  |
Operating lease assets |  | Other assets |  | $ | 1,832 |  |  | $ | 2,168 |
Financing lease assets |  | Property and equipment, net |  | 677 |  |  | 1,214 |
Total lease assets |  |  |  | $ | 2,509 |  |  | $ | 3,382 |
Liabilities |  |  |  |  |  |
Operating lease liabilities |  | Operating lease liability |  | $ | 2,038 |  |  | $ | 2,311 |
Financing lease liabilities |  | Other liabilities |  | 21 |  |  | 36 |
Total lease liabilities |  |  |  | $ | 2,059 |  |  | $ | 2,347 |
The components of lease expenses were as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Operating lease expense |  | $ | 161 |  |  | $ | 174 |  |  | $ | 492 |  |  | $ | 469 |
Financing lease expense: |  |  |  |  |  |  |  |
Amortization of leased assets |  | 207 |  |  | 184 |  |  | 598 |  |  | 511 |
Interest on lease liabilities |  | — |  |  | — |  |  | 1 |  |  | 1 |
Net lease expense |  | $ | 368 |  |  | $ | 358 |  |  | $ | 1,091 |  |  | $ | 981 |
At September 30, 2021, future minimum gross lease payments relating to these non-cancellable operating and finance lease agreements were as follows:
|  | Operating Leases |  | Finance Leases |  | Total
Remaining in 2021 |  | $ | 156 |  |  | $ | 5 |  |  | $ | 161 |
2022 |  | 636 |  |  | 15 |  |  | 651 |
2023 |  | 619 |  |  | 4 |  |  | 623 |
2024 |  | 602 |  |  | 417 |  |  | 1,019 |
2025 |  | 257 |  |  | — |  |  | 257 |
Thereafter |  | 1,193 |  |  | — |  |  | 1,193 |
Total undiscounted future minimum lease payments |  | 3,463 |  |  | 441 |  |  | 3,904 |
Less: Imputed interest |  | (1,425) |  |  | (420) |  |  | (1,845) |
Present value of lease liabilities |  | $ | 2,038 |  |  | $ | 21 |  |  | $ | 2,059 |
Weighted average remaining lease term and discount rate related to operating and finance leases were as follows:
|  | September 30, 2021 |  | December 31, 2020
Weighted average remaining lease term (months) |  |  |  |
Operating leases |  | 55 |  |  | 67 |
Financing leases |  | 19 |  |  | 23 |
Weighted average discount rate |  |  |  |
Operating leases |  | 3.60 | % |  | 3.57 | %
Financing leases |  | 3.27 | % |  | 3.27 | %
Other cash and non-cash related activities were as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Investing cash flows from financing leases |  | $ | 35 |  |  | $ | 27 |  |  | $ | 68 |  |  | $ | 505 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | 14 |  |  | — |  |  | — |  |  | 2,136 |
Right-of-use assets obtained in exchange for new financing lease liabilities |  | 37 |  |  | 28 |  |  | 70 |  |  | 522 |
See Note 9 of these Notes to Unaudited Condensed Consolidated Financial Statements for information regarding commitments related to long-term debt, and Note 12 of these Notes to Unaudited Condensed Consolidated Financial Statements for information regarding commitments related to regulatory actions.

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