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Subsequent Events | 3 Months Ended
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Mar. 31, 2022
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS We evaluate all subsequent events and transactions for potential recognition or disclosure in our financial statements. On April 1, 2022, the Company transitioned policies written in the state of Massachusetts to HCPCI in connection with the Northeast Renewal Agreement. On April 11, 2022, we announced a proposed reorganization plan, which would merge JIC into ACIC, with ACIC being the surviving entity. As a result of the proposed reorganization plan, on April 14, 2022, AM Best downgraded the Financial Strength Rating of JIC from A- (Excellent) to B++ (Good) and the Long-Term Issuer Credit Rating of JIC from "a-" (Excellent) to "bbb+" (Good). Concurrently, AM Best withdrew their rating of JIC as we requested to no longer participate in AM Best's interactive rating process. On May 6, 2022, the Company made capital contributions of $1,000,000 and $3,200,000 to our insurance subsidiaries UPC, and FSIC, respectively.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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