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Investments In Securities (Tables)

6 Months Ended

Jun. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule Of Gross Unrealized Gains And Losses For Securities

The estimated fair value, gross unrealized holding gains, gross unrealized holding losses and cost for equity securities are as follows:

As of June 30, 2018 (in thousands)	Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Equity securities, at fair value:
Common stocks	$	26,956			$	21,283			$	213			$	48,026
Total	$	26,956			$	21,283			$	213			$	48,026

As of December 31, 2017 (in thousands)	Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Equity securities, at fair value:
Common stocks	$	26,003			$	21,376			$	12			$	47,367
Total	$	26,003			$	21,376			$	12			$	47,367

The estimated fair value, gross unrealized holding gains, gross unrealized holding losses and amortized cost for fixed maturities by major classification are as follows:

As of June 30, 2018 (in thousands)	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Fixed maturities, available-for-sale, at fair value:
Government Obligations	$	1,033			$	—			$	10			$	1,023
General obligations of U.S. states, territories and political subdivisions	21,248				242				232				21,258
Special revenue issuer obligations of U.S. states, territories and political subdivisions	58,694				1,247				389				59,552
Corporate debt securities	12,494				327				76				12,745
Total	$	93,469			$	1,816			$	707			$	94,578

As of December 31, 2017 (in thousands)	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Fixed maturities, available-for-sale, at fair value:
Government obligations	$	1,043			$	—			$	1			$	1,042
General obligations of U.S. states, territories and political subdivisions	24,189				505				50				24,644
Special revenue issuer obligations of U.S. states, territories and political subdivisions	62,592				2,218				165				64,645
Corporate debt securities	12,490				527				7				13,010
Total	$	100,314			$	3,250			$	223			$	103,341

Schedule Of Fixed Maturity Securities

The scheduled maturities of fixed maturity securities at June 30, 2018 were as follows:

	Available-for-Sale
(in thousands)	Amortized Cost				Estimated Fair Value
Due in one year or less	$	9,394			$	9,387
Due one year through five years	38,648				39,474
Due five years through ten years	43,289				43,184
Due after ten years	2,138				2,533
Total	$	93,469			$	94,578

Schedule of Unrealized Loss on Investments

The following table presents the gross unrealized losses on investment securities and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous loss position at June 30, 2018 and December 31, 2017:

	Less than 12 Months								12 Months or Longer								Total
As of June 30, 2018 (in thousands)	Estimated Fair Value				Unrealized Losses				Estimated Fair Value				Unrealized Losses				Estimated Fair Value				Unrealized Losses
Government obligations	$	1,023			$	(10	)		$	—			$	—			$	1,023			$	(10	)
General obligations of U.S. states, territories and political subdivisions	8,062				(96		)		3,402				(136		)		11,464				(232		)
Special revenue issuer obligations of U.S. states, territories and political subdivisions	18,139				(190		)		3,899				(199		)		22,038				(389		)
Corporate debt securities	10,696				(76		)		—				—				10,696				(76		)
Total temporarily impaired securities	$	37,920			$	(372	)		$	7,301			$	(335	)		$	45,221			$	(707	)

	Less than 12 Months								12 Months or Longer								Total
As of December 31, 2017 (in thousands)	Estimated Fair Value				Unrealized Losses				Estimated Fair Value				Unrealized Losses				Estimated Fair Value				Unrealized Losses
Government obligations	$	1,042			$	(1	)		$	—			$	—			$	1,042			$	(1	)
General obligations of U.S. states, territories and political subdivisions	4,560				(27		)		3,535				(23		)		8,095				(50		)
Special revenue issuer obligations of U.S. states, territories and political subdivisions	13,551				(61		)		4,023				(104		)		17,574				(165		)
Corporate debt securities	3,744				(7		)		—				—				3,744				(7		)
Total temporarily impaired securities	$	22,897			$	(96	)		$	7,558			$	(127	)		$	30,455			$	(223	)

Schedule Of Gross Realized Gains And Losses On Securities

(in thousands)	2018				2017
Gross realized gains from securities:
Special revenue issuer obligations of U.S. states, territories and political subdivisions	$	—			$	—
Corporate debt securities	—				—
Common stocks	484				298
Total	$	484			$	298
Gross realized losses from securities:
General obligations of U.S. states, territories and political subdivisions	$	—			$	—
Special revenue issuer obligations of U.S. states, territories and political subdivisions	—				—
Common stocks	(47		)		(125		)
Other-than-temporary impairment of securities	—				—
Total	$	(47	)		$	(125	)
Net realized gain from securities	$	437			$	173
Net realized gain on other investments:
Gains on other investments	$	4			$	13
Total	$	4			$	13
Net realized investment gains	$	441			$	186

Schedule of Variable Interest Entities

The following table sets forth details about the Company's variable interest investments in VIEs, which are structured either as limited partnerships ("LPs") or limited liability companies ("LLCs"), as of June 30, 2018:

Type of Investment (in thousands)		Balance Sheet Classification		Carrying Value				Estimated Fair Value				Maximum Potential Loss (a)
Tax credit LPs		Other investments		$	628			$	628			$	1,325
Real estate LLCs or LPs		Other investments		4,893				5,141				7,950
Small business investment LPs		Other investments		4,142				4,261				9,400
Total				$	9,663			$	10,030			$	18,675

(a) Maximum potential loss is calculated as the total investment in the LLC or LP, including any capital commitments that may have not yet been called. The Company is not exposed to any loss beyond the total commitment of its investment.

Schedule Of Fair Value Assets Measured On Recurring Basis

The following table presents, by level, fixed maturities carried at estimated fair value measured as of June 30, 2018 and December 31, 2017:

As of June 30, 2018 (in thousands)	Level 1				Level 2				Level 3				Total
Fixed maturities:
Obligations of U.S. states, territories and political subdivisions*	$	—			$	81,833			$	—			$	81,833
Corporate debt securities*	—				12,745				—				12,745
Total	$	—			$	94,578			$	—			$	94,578

As of December 31, 2017 (in thousands)	Level 1				Level 2				Level 3				Total
Fixed maturities:
Obligations of U.S. states, territories and political subdivisions*	$	—			$	90,331			$	—			$	90,331
Corporate debt securities*	—				13,010				—				13,010
Total	$	—			$	103,341			$	—			$	103,341

Schedule Of Carrying Value And Fair Value Of Financial Assets Disclosed

The estimated fair values of equity investments and other financial instruments as of June 30, 2018 and December 31, 2017 are presented in the following table:

As of June 30, 2018 (in thousands)	Level 1				Level 2				Level 3				Total
Financial assets:
Cash	$	29,289			$	—			$	—			$	29,289
Accrued interest and dividends	1,015				—				—				1,015
Equity securities, at fair value:
Common stocks	48,026				—				—				48,026
Short-term investments:
Commercial paper and money market funds	24,950				—				—				24,950
Other investments:
Equity investments in unconsolidated affiliates, equity method	—				—				5,871				5,871
Equity investments in unconsolidated affiliates, measurement alternative	—				—				5,751				5,751
Total	$	103,280			$	—			$	11,622			$	114,902

As of December 31, 2017 (in thousands)		Level 1				Level 2				Level 3				Total
Financial assets:
Cash		$	20,214			$	—			$	—			$	20,214
Accrued interest and dividends		1,100				—				—				1,100
Equity securities, at fair value:
Common stocks		47,367				—				—				47,367
Short-term investments:
Commercial paper, money market funds and certificates of deposit		23,780				—				—				23,780
Other investments:
Equity investments in unconsolidated affiliates, equity method		—				—				6,593				6,593
Equity investments in unconsolidated affiliates, measurement alternative		—				—				5,439				5,439
Total		$	92,461			$	—			$	12,032			$	104,493

Schedule of Cost Method Investments

The following table presents a rollforward of equity investments under the measurement alternative as of June 30, 2018 and December 31, 2017:

As of June 30, 2018 (in thousands)	Balance, January 1, 2018				Amounts Impaired				Observable Changes				Purchases and Additional Commitments Paid				Sales, Returns of Capital and Other Reductions				Balance, June 30, 2018
Other investments:
Equity investments in unconsolidated affiliates, measurement alternative	$	5,439			$	—			$	—			$	552			$	(240	)		$	5,751
Total	$	5,439			$	—			$	—			$	552			$	(240	)		$	5,751

As of December 31, 2017 (in thousands)	Balance, January 1, 2017				Amounts Impaired				Observable Changes				Purchases and Additional Commitments Paid				Sales, Returns of Capital and Other Reductions				Balance, December 31, 2017
Other investments:
Equity investments in unconsolidated affiliates, measurement alternative	$	4,744			$	—			$	—			$	1,082			$	(387	)		$	5,439
Total	$	4,744			$	—			$	—			$	1,082			$	(387	)		$	5,439

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The entire disclosure for investments accounted for under the cost-method. The carrying amount of such investments may be adjusted, for example, distributions in excess of cost (return of capital) or for other-than-temporary impairments. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries in which the entity does not have the ability to exercise significant influence.

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