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Fair Value Measurement (Tables) | 6 Months Ended
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Jun. 30, 2012
Fair Value Measurement [Abstract] |
Schedule Of Assumptions Used To Determine Fair Value |
| 2012 |  | 2011 |
Cumulative probability of earning maximum rate until maturity | 0.0-0.2 | % | 0.0-0.1 | %
Cumulative probability of principal returned prior to maturity | 95.8-98.6% |  | 95.4-98.7% |
Cumulative probability of default at some future point | 1.4-4.2 | % | 1.3-4.6 | %
Liquidity risk premium | 4.0-4.5 | % | 4.5-5.0 | %
Schedule Of Fair Value Assets Measured On Recurring Basis |
As of June 30, 2012 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Short-term investments | $ | 8,420,944 | $ | - | $ | - | $ | 8,420,944
Equity securities |  |  |  |  |  |  |  |
Common stock and nonredeemable preferred stock |  | 25,961,611 |  | - |  | - |  | 25,961,611
Fixed maturities |  |  |  |  |  |  |  |
Obligations of states and political subdivisions* |  | - |  | 64,433,570 |  | 932,900 |  | 65,366,470
Corporate debt securities* |  | - |  | 20,479,972 |  | 2,765,200 |  | 23,245,172
Total | $ | 34,382,555 | $ | 84,913,542 | $ | 3,698,100 | $ | 122,994,197
As of December 31, 2011 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Short-term investments | $ | 14,112,262 | $ | - | $ | - | $ | 14,112,262
Equity securities |  |  |  |  |  |  |  |
Common stock and nonredeemable preferred stock |  | 22,549,975 |  | - |  | - |  | 22,549,975
Fixed maturities |  |  |  |  |  |  |  |
Obligations of states and political subdivisions* |  | - |  | 67,612,793 |  | 1,834,700 |  | 69,447,493
Corporate debt securities* |  | - |  | 13,242,172 |  | 2,717,700 |  | 15,959,872
Total | $ | 36,662,237 | $ | 80,854,965 | $ | 4,552,400 | $ | 122,069,602
*Denotes fair market value obtained from pricing services.
Schedule Of Carrying Value And Fair Value Of Financial Assets Disclosed |
As of June 30, 2012: |  |  |  |  |  |  |  |  |  |
Financial Assets | Carrying Value | Estimated Fair Value | Level 1 | Level 2 | Level 3
Cash | $ | 17,457,651 | $ | 17,457,651 | $ | 17,457,651 | $ | - | $ | -
Cost-basis investments |  | 1,714,073 |  | 2,088,372 |  | - |  | - |  | 1,714,073
Accrued dividends and interest |  | 1,136,981 |  | 1,136,981 |  | 1,136,981 |  | - |  | -
Total | $ | 20,308,705 | $ | 20,683,004 | $ | 18,594,632 | $ | - | $ | 1,714,073
Financial Liabilities |  |  |  |  |  |  |  |  |  |
Contingent liability | $ | 691,250 | $ | 691,250 | $ | - | $ | - | $ | 691,250
Total | $ | 691,250 | $ | 691,250 | $ | - | $ | - | $ | 691,250
As of December 31, 2011: |  |  |  |  |  |  |  |  |  |
Financial Assets | Carrying Value | Estimated Fair Value | Level 1 | Level 2 | Level 3
Cash | $ | 18,042,258 | $ | 18,042,258 | $ | 18,042,258 | $ | - | $ | -
Cost-basis investments |  | 1,303,887 |  | 1,688,262 |  | - |  | - |  | 1,303,887
Accrued dividends and interest |  | 1,108,156 |  | 1,108,156 |  | 1,108,156 |  | - |  | -
Total | $ | 20,454,301 | $ | 20,838,676 | $ | 19,150,414 | $ | - | $ | 1,303,887
Schedule Of Fair Value Assets Measured At Unobservable Inputs Reconciliation |
Changes in fair value during the period ended: |  | 2012 |  |  | 2011 |
Beginning balance at January 1 | $ | 4,552,400 |  | $ | 5,472,244 |
Redemptions and sales |  | (1,000,000 | ) |  | (900,000 | )
Realized gain - included in realized gain on investments |  | 40,057 |  |  | 43,199 |
Realized loss - included in realized gain on investments |  | - |  |  | (101,861 | )
Unrealized gain - included in other comprehensive income |  | 105,643 |  |  | 38,818 |
Ending balance, net | $ | 3,698,100 |  | $ | 4,552,400 |
Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3) |
Changes in fair value during the period ended: |  | 2012 |  | 2011
Beginning balance at January 1 | $ | - | $ | -
Addition of contingent liability |  | 691,250 |  | -
Ending balance, net | $ | 691,250 | $ | -
Schedule Of Estimated Fair Value Hierarchy Of Investments And Related Impairments Recognized |
December 31, 2011 | Valuation Method | Impaired | Level 1 | Level 2 | Level 3 | Total at Estimated Fair Value | Impairment Losses
Cost method investments | Fair Value | Yes | $ | - | $ | - | $ | 58,281 | $ | 58,281 | $ | (28,904 | )
Other assets | Fair Value | Yes |  | - |  | - |  | 17,000 |  | 17,000 |  | (15,500 | )
Total cost method |  |  |  |  |  |  |  |  |  |  |  |  |
investments and other |  |  |  |  |  |  |  |  |  |  |  |  |
assets |  |  | $ | - | $ | - | $ | 75,281 | $ | 75,281 | $ | (44,404 | )

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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