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Subsequent Events (Details) $ in Thousands | 3 Months Ended
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Mar. 31, 2024 USD ($)
Subsequent Event |
Loss Contingency Accrual | $ 1,500
Subsequent Events | SUBSEQUENT EVENTS We evaluate all subsequent events and transactions for potential recognition or disclosure in our financial statements. Effective April 17, 2024, the Company secured $200 million dollars of excess of loss reinsurance limit related to its AmCoastal core catastrophe reinsurance program for 2024-2025. This limit attaches to AmCoastal's reinsurance coverage at $275 million and was obtained through 10.25% catastrophe bonds issued by Armor Re II Ltd., a Bermuda-domiciled special purpose insurer. On May 9, 2024, the Company signed definitive agreements with Forza Insurance Holdings, LLC ("Forza") in which the Company will sell and Forza will acquire 100% of the issued and outstanding stock of IIC. Closing is subject to the approval of the New York Department of Financial Services. Concurrently, IIC and SageSure entered into a Program Administrator Agreement and Claims Services Agreement on May 9, 2024. Under the terms of these service agreements, SageSure will provide policy administration, underwriting and claims administration services on behalf of IIC.

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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 -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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