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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (7,335,190) $ (2,717,934)
Adjustments to reconcile net loss to net cash flows provided by operating activities:    
Net (gains) losses on sale of investments 25,192 243,773
Net unrealized (gains) losses of equity investments (1,767,835) 307,214
Net unrealized (gains) losses of other investments (292,720) (27,860)
Depreciation and amortization 602,332 409,431
Amortization of bond premium, net 118,568 118,841
Amortization of discount and issuance costs on long-term debt 44,045 36,151
Stock-based compensation 309,882 108,368
Deferred income tax expense 510,533 28,927
(Increase) decrease in operating assets:    
Premiums receivable, net (250,149) 151,824
Reinsurance receivables, net 209,478 (3,376,350)
Deferred policy acquisition costs (246,544) (282,977)
Other assets (3,666,830) (1,386,512)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 12,913,165 7,472,491
Unearned premiums 627,872 1,006,969
Advance premiums 956,784 738,910
Reinsurance balances payable (731,445) 453,768
Deferred ceding commission revenue 58,710 81,400
Accounts payable, accrued expenses and other liabilities 616,556 (2,986,061)
Net cash flows provided by operating activities 2,702,404 380,373
Cash flows from investing activities:    
Purchase - fixed-maturity securities available-for-sale (6,094,835) (20,018,600)
Purchase - equity securities (1,604,615) (6,004,614)
Sale and redemption - fixed-maturity securities held-to-maturity 400,000 0
Sale or maturity - fixed-maturity securities available-for-sale 1,505,382 7,891,145
Sale - equity securities 246,047 3,378,515
Acquisition of property and equipment (1,048,604) (684,609)
Other investing activities (287,733) 0
Net cash flows used in investing activities (6,884,358) (15,438,163)
Cash flows from financing activities:    
Proceeds from exercise of stock options 0 29,577
Withholding taxes paid on net exercise of stock options 0 (341,770)
Withholding taxes paid on vested retricted stock awards (116,007) (12,214)
Purchase of treasury stock 0 (336,894)
Dividends paid (1,075,962) (1,068,375)
Net cash flows used in financing activities (1,191,969) (1,729,676)
Decrease in cash and cash equivalents (5,373,923) (16,787,466)
Cash and cash equivalents, beginning of period 21,138,403 48,381,633
Cash and cash equivalents, end of period 15,764,480 31,594,167
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest $ 0 $ 0