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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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,
			2022						2021						2020
Federal:
Current			$	(171)					$	(2,207)					$	(27,310)
Deferred			18,823						(18,830)						(6,611)
Provision (benefit) for Federal income tax expense			18,652						(21,037)						(33,921)
State:
Current			1,518						1,033						598
Deferred			5,315						(3,985)						(3,282)
Provision (benefit) for State income tax expense			6,833						(2,952)						(2,684)
Provision (benefit) for income taxes			$	25,485					$	(23,989)					$	(36,605)

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,
			2022						2021						2020
Expected income tax expense at federal rate			$	(93,341)					$	(17,610)					$	(27,741)
State tax expense, net of federal deduction benefit			(13,899)						(1,176)						(3,603)
Dividend received deduction			(73)						(59)						(141)
Non-Deductible Goodwill			2,848						(2)						—
Other permanent items			241						127						600
Prior period accrual adjustment			469						(1,053)						2,230
Outside basis in subsidiary			189						(964)						470
Net operating loss carryback rate benefit (1)			—						—						(12,566)
Municipal tax-exempt interest			(50)						(134)						(280)
Change in valuation allowance			128,993						(1,352)						5,505
Change in enacted tax rate			110						(1,386)						(358)
Change in tax credit carryforward			—						(380)						(721)
Other, net			(2)						—						—
Reported income tax benefit			$	25,485					$	(23,989)					$	(36,605)

 (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 asset (liability):

			December 31,
			2022						2021
Deferred tax assets:
Unearned premiums			$	16,115					$	10,326
Unrealized loss			8,768						1,230
Tax-related discount on loss reserve			5,505						3,121
R&D tax credit carryforward			1,610						1,990
Other-than-temporary impairment			5,500						—
Investments			2,620						344
Bad debt expense			1,077						144
Equity compensation			474						405
Dual consolidated loss carryforward			5,958						5,103
Net operating loss carryforward			112,804						25,472
Other			1,541						789
Total pre-allowance deferred tax assets			161,972						48,924
Valuation allowance			(140,034)						(5,142)
Total deferred tax assets			21,938						43,782
Deferred tax liabilities:
Deferred acquisitions costs			(14,743)						(10,356)
Intangible assets			(2,823)						(3,607)
Prepaid expenses			(744)						(837)
Investments			(62)						(77)
Fixed assets			(3,743)						(4,990)
Total deferred tax liabilities			(22,115)						(19,867)
Net deferred tax asset (liability)			$	(177)					$	23,915

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, 2022:

						December 31, 2022
Balance at January 1						$	834
Decrease based on tax positions related to prior years						(168)
Balance at December 31						$	666

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