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Condensed Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net income $ (5,966,353) $ 3,093,246
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Net (gains) losses on sale of investments (28,845) 93,974
Net unrealized (gains) losses of equity investments (3,832,486) 2,257,727
Net unrealized (gains) losses of other investments (729,688) 144,156
Depreciation and amortization 2,545,946 1,787,150
Bad debts (112,761) (252,492)
Amortization of bond premium, net 417,119 373,014
Amortization of discount and issuance costs on long-term debt 176,180 168,286
Stock-based compensation 1,501,377 702,650
Deferred income tax benefit (1,991,208) (5,398)
(Increase) decrease in operating assets:    
Premiums receivable, net 1,367,949 (491,409)
Reinsurance receivables, net (14,383,423) 2,152,015
Deferred policy acquisition costs (2,726,641) (3,060,501)
Other assets (1,096,732) (3,215,227)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 24,301,505 7,397,484
Unearned premiums 11,351,107 13,384,468
Advance premiums 1,083,883 629,936
Reinsurance balances payable 9,781,348 (630,590)
Deferred ceding commission revenue 5,048,721 (1,579,735)
Accounts payable, accrued expenses and other liabilities 3,152,051 (653,388)
Net cash flows provided by operating activities 29,859,049 22,295,366
Cash flows from investing activities:    
Purchase - fixed-maturity securities available-for-sale (23,881,518) (58,542,741)
Purchase - equity securities (9,578,765) (13,380,542)
Sale and redemption - fixed-maturity securities held-to-maturity 400,000 624,963
Sale or maturity - fixed-maturity securities, available-for-sale 16,567,284 21,381,668
Sale - equity securities 5,458,953 9,246,840
Acquisition of fixed assets (3,939,653) (2,731,502)
Net cash flows used in investing activities (14,973,699) (43,401,314)
Cash flows from financing activities:    
Proceeds from exercise of stock options 23,550 90,640
Withholding taxes paid on net exercise of stock options 0 (1,357,171)
Withholding taxes paid on vest restricted stock awards (154,452) (51,004)
Purchase of treasury stock 0 (540,253)
Dividends paid (3,501,366) (4,279,494)
Net cash flows provided by financing activities (3,632,268) (6,137,282)
Increase (decrease) in cash and cash equivalents 11,253,082 (27,243,230)
Cash and cash equivalents, beginning of period 21,138,403 48,381,633
Cash and cash equivalents, end of period 32,391,485 21,138,403
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 388,000 2,201,000
Cash paid for interest $ 1,650,000 $ 1,700,417