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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (836,013) $ (5,695,810)
Adjustments to reconcile net loss to net cash flows (used in) provided by operating activities:    
Net gains on sale of investments (275,158) (931)
Net unrealized losses (gains) of equity investments 3,979,115 (2,232,438)
Net unrealized losses (gains) of other investments 42,593 (480,649)
Depreciation and amortization 1,360,254 1,230,001
Bad debts 46,440 0
Amortization of bond premium, net 302,279 188,778
Amortization of discount and issuance costs on long-term debt 88,090 88,090
Stock-based compensation 942,387 709,207
Deferred income tax expense (benefit) 1,017,179 (1,521,867)
(Increase) decrease in operating assets:    
Premiums receivable, net (679,568) (996,601)
Reinsurance receivables, net (491,783) (2,276,245)
Deferred policy acquisition costs 1,112,036 (1,506,072)
Other assets (1,609,499) (329,335)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves (3,890,252) 13,478,014
Unearned premiums (5,376,958) 6,456,015
Advance premiums 1,408,269 1,360,596
Reinsurance balances payable (6,247,621) 873,527
Deferred ceding commission revenue (756,824) 413,479
Accounts payable, accrued expenses and other liabilities (116,404) 1,042,925
Net cash flows (used in) provided by operating activities (9,981,438) 10,800,684
Cash flows from investing activities:    
Purchase - fixed-maturity securities held-to-maturity 4,041,750 0
Purchase - fixed-maturity securities available-for-sale 12,447,259 11,867,613
Purchase - equity securities 8,290,221 4,461,684
Sale and redemption - fixed-maturity securities held-to-maturity 0 400,000
Sale or maturity - fixed-maturity securities available-for-sale 19,174,048 6,987,908
Sale - equity securities 6,479,813 503,884
Acquisition of property and equipment 1,101,416 2,353,140
Net cash flows used in investing activities (226,785) (10,790,645)
Cash flows from financing activities:    
Proceeds from exercise of stock options 0 23,550
Withholding taxes paid on vested retricted stock awards 124,342 122,838
Purchase of treasury stock 801,788 0
Dividends paid 1,103,400 2,153,349
Net cash flows used in financing activities (2,029,530) (2,252,637)
Decrease in cash and cash equivalents (12,237,753) (2,242,598)
Cash and cash equivalents, beginning of period 32,391,485 21,138,403
Cash and cash equivalents, end of period 20,153,732 18,895,805
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest $ 825,000 $ 825,000