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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (2,063,869) $ (7,420,972)
Adjustments to reconcile net loss to net cash flows (used in) provided by operating activities:    
Net (gains) losses on sale of investments (857,650) 54,759
Net unrealized losses (gains) of equity investments 2,740,489 (3,196,260)
Net unrealized gains on other investments (244,165) (570,679)
Depreciation and amortization 2,070,435 1,876,202
Bad debts 70,666 0
Amortization of bond premium, net 518,146 283,620
Amortization of discount and issuance costs on long-term debt 132,135 132,135
Stock-based compensation 1,373,283 1,116,921
Deferred income tax expense (benefit) 1,154,475 (2,133,486)
(Increase) decrease in operating assets:    
Premiums receivable, net (1,247,963) (390,922)
Reinsurance receivables, net (14,778,870) (213,334)
Deferred policy acquisition costs 718,053 (2,583,831)
Other assets (2,010,253) (882,320)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 4,480,413 21,212,317
Unearned premiums (2,215,602) 11,036,552
Advance premiums 1,727,744 1,629,862
Reinsurance balances payable (1,652,075) (1,123,540)
Deferred ceding commission revenue (528,256) (857,805)
Accounts payable, accrued expenses and other liabilities 1,147,858 1,568,746
Net cash flows (used in) provided by operating activities (9,465,006) 19,537,965
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) (15,373,113)
Purchase - equity securities (15,614,675) (6,657,676)
Sale and redemption - fixed-maturity securities held-to-maturity 500,000 400,000
Sale or maturity - fixed-maturity securities available-for-sale 29,666,158 9,835,464
Sale - equity securities 8,103,697 2,941,492
Acquisition of property and equipment (2,238,432) (3,231,483)
Net cash flows provided by (used in) investing activities 3,927,739 (12,085,316)
Cash flows from financing activities:    
Proceeds from exercise of stock options 0 23,552
Withholding taxes paid on vested retricted stock awards (133,937) (148,278)
Purchase of treasury stock (801,788) 0
Dividends paid (1,530,390) (2,827,276)
Net cash flows used in financing activities (2,466,115) (2,952,002)
(Decrease) increase in cash and cash equivalents (8,003,382) 4,500,647
Cash and cash equivalents, beginning of period 32,391,485 21,138,403
Cash and cash equivalents, end of period 24,388,103 25,639,050
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 388,000
Cash paid for interest $ 825,000 $ 825,000