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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net (loss) income $ (5,695,810) $ 39,363
Adjustments to reconcile net (loss) income to net cash flows provided by operating activities:    
Net (gains) losses on sale of investments (931) 320,149
Net unrealized (gains) losses of equity investments (2,232,438) 430,411
Net unrealized gains of other investments (480,649) (120,700)
Depreciation and amortization 1,230,001 833,592
Amortization of bond premium, net 188,778 174,110
Amortization of discount and issuance costs on long-term debt 88,090 80,196
Stock-based compensation 709,207 284,477
Deferred income tax expense (1,521,867) (183,840)
(Increase) decrease in operating assets:    
Premiums receivable, net (996,601) (1,119,494)
Reinsurance receivables, net (2,276,245) 626,726
Deferred policy acquisition costs (1,506,072) (1,224,520)
Other assets (329,335) (1,400,192)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 13,478,014 458,234
Unearned premiums 6,456,015 5,492,266
Advance premiums 1,360,596 1,354,136
Reinsurance balances payable 873,527 1,621,658
Deferred ceding commission revenue 413,479 492,722
Accounts payable, accrued expenses and other liabilities 1,042,925 (2,206,196)
Net cash flows provided by operating activities 10,800,684 5,953,098
Cash flows from investing activities:    
Purchase - fixed-maturity securities available-for-sale (11,867,613) (42,305,529)
Purchase - equity securities (4,461,684) (8,221,931)
Sale and redemption - fixed-maturity securities held-to-maturity 400,000 0
Sale or maturity - fixed-maturity securities available-for-sale 6,987,908 15,172,845
Sale - equity securities 503,884 4,746,825
Acquisition of property and equipment (2,353,140) (1,347,578)
Net cash flows used in investing activities (10,790,645) (31,955,368)
Cash flows from financing activities:    
Proceeds from exercise of stock options 23,550 46,883
Withholding taxes paid on net exercise of stock options 0 (341,770)
Withholding taxes paid on vested retricted stock awards (122,838) (21,523)
Purchase of treasury stock 0 (540,223)
Dividends paid (2,153,349) (2,134,759)
Net cash flows used in financing activities (2,252,637) (2,991,392)
Decrease in cash and cash equivalents (2,242,598) (28,993,662)
Cash and cash equivalents, beginning of period 21,138,403 48,381,633
Cash and cash equivalents, end of period 18,895,805 19,387,971
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 388,000 801,000
Cash paid for interest $ 825,000 $ 875,417