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Investments (Tables)

12 Months Ended

Dec. 31, 2020

Investments

Schedule of Available for Sale Securities

		December 31, 2020
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net
		Amortized				Unrealized				Less than 12				More than 12				Fair				Unrealized
Category		Cost				Gains				Months				Months				Value				Gains
Fixed-Maturity Securities:
U.S. Treasury securities and
obligations of U.S. government
corporations and agencies		$	3,020,710			$	29,190			$	-			$	-			$	3,049,900			$	29,190
Political subdivisions of States,
Territories and Possessions			5,287,561				355,541				-				-				5,643,102				355,541
Corporate and other bonds
Industrial and miscellaneous			108,573,422				11,634,123				(13,216	)			-				120,194,329				11,620,907
Residential mortgage and other
asset backed securities (1)			28,163,891				617,368				(7,371	)			(111,947	)		$	28,661,941				498,050
Total		$	145,045,584			$	12,636,222			$	(20,587	)		$	(111,947	)		$	157,549,272			$	12,503,688

		December 31, 2019
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net
		Amortized				Unrealized				Less than 12				More than 12				Fair				Unrealized
Category		Cost				Gains				Months				Months				Value				Gains
Fixed-Maturity Securities:
U.S. Treasury securities and
obligations of U.S. government
corporations and agencies		$	7,037,856			$	23,244			$	-			$	-			$	7,061,100			$	23,244
Political subdivisions of States,
Territories and Possessions			9,151,293				181,835				(11,316	)			-				9,321,812				170,519
Corporate and other bonds
Industrial and miscellaneous			119,874,573				5,777,624				(16,685	)			(13,473	)			125,622,039				5,747,466
Residential mortgage and other
asset backed securities (1)			26,138,633				437,841				(68,793	)			(276,451	)		$	26,231,230				92,597
Total		$	162,202,355			$	6,420,544			$	(96,794	)		$	(289,924	)		$	168,236,181			$	6,033,826

Schedule of available for sale fixed maturity securities contractual maturity

		December 31, 2020								December 31, 2019
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	8,559,005			$	8,668,064			$	11,986,401			$	12,025,804
One to five years			44,137,567				47,745,430				49,715,422				51,000,025
Five to ten years			55,508,712				63,159,775				69,850,104				74,410,275
More than 10 years			8,676,409				9,314,062				4,511,795				4,568,847
Residential mortgage and other asset backed securities			28,163,891				28,661,941				26,138,633				26,231,230
Total		$	145,045,584			$	157,549,272			$	162,202,355			$	168,236,181

Schedule of equity securities

		December 31, 2020
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	18,097,942			$	853,277			$	(426,942	)		$	18,524,277
Common stocks, mutual funds,
and exchange traded funds			14,473,224				1,820,512				(404,700	)			15,889,036
Total		$	32,571,166			$	2,673,789			$	(831,642	)		$	34,413,313

		December 31, 2019
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	8,374,424			$	339,257			$	(11,794	)		$	8,701,887
Common stocks, mutual funds,
and exchange traded funds			14,250,244				1,982,878				(273,627	)			15,959,495
Total		$	22,624,668			$	2,322,135			$	(285,421	)		$	24,661,382

Schedule of Other Investments

		December 31, 2020												December 31, 2019
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value
Other Investments:
Hedge fund		$	1,999,381			$	1,519,245			$	3,518,626			$	1,999,381			$	585,532			$	2,584,913
Total		$	1,999,381			$	1,519,245			$	3,518,626			$	1,999,381			$	585,532			$	2,584,913

Schedule of Held to Maturity Securities

		December 31, 2020
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net
		Amortized				Unrealized				Less than 12				More than 12				Fair				Unrealized
Category		Cost				Gains				Months				Months				Value				Gains
Held-to-Maturity Securities:
U.S. Treasury securities		$	729,595			$	319,714			$	-			$	-			$	1,049,309			$	319,714
Political subdivisions of States,
Territories and Possessions			998,428				50,917				-				-				1,049,345				50,917
Corporate and other bonds
Industrial and miscellaneous			5,640,792				455,378				-				-				6,096,170				455,378
Total		$	7,368,815			$	826,009			$	-			$	-			$	8,194,824			$	826,009

		December 31, 2019
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net
		Amortized				Unrealized				Less than 12				More than 12				Fair				Unrealized
Category		Cost				Gains				Months				Months				Value				Gains
Held-to-Maturity Securities:
U.S. Treasury securities		$	729,550			$	151,002			$	-			$	-			$	880,552			$	151,002
Political subdivisions of States,
Territories and Possessions			998,619				51,021				-				-				1,049,640				51,021
Corporate and other bonds
Industrial and miscellaneous			2,097,783				97,627				(835	)			-				2,194,575				96,792
Total		$	3,825,952			$	299,650			$	(835	)		$	-			$	4,124,767			$	298,815

Schedule of Held to Maturity Securities by contractual maturity

		December 31, 2020								December 31, 2019
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	-			$	-			$	500,000			$	499,165
One to five years			2,598,193				2,777,936				2,099,268				2,215,640
Five to ten years			1,502,603				1,727,316				620,134				655,923
More than 10 years			3,268,019				3,689,572				606,550				754,039
Total		$	7,368,815			$	8,194,824			$	3,825,952			$	4,124,767

Schedule of Investment Income

		Years ended
		December 31,
		2020				2019
Income:
Fixed-maturity securities		$	5,533,047			$	5,943,889
Equity securities			1,159,507				930,004
Cash and cash equivalents			91,603				337,602
Total			6,784,157				7,211,495
Expenses:
Investment expenses			278,554				342,149
Net investment income		$	6,505,603			$	6,869,346

Schedule of Securities with realized gains and losses on investments

		Years ended
		December 31,
		2020				2019
Realized Gains (Losses)
Fixed-maturity securities:
Gross realized gains		$	1,108,159			$	11,608
Gross realized losses			(327,890	)			(134,533	)
			780,269				(122,925	)
Equity securities:
Gross realized gains			832,394				316,924
Gross realized losses			(780,245	)			(165,154	)
			52,149				151,770
Net realized gains			832,418				28,845
Unrealized Gains (Losses)
Equity Securities:
Gross gains			41,517				3,832,486
Gross losses			(217,032	)			-
			(175,515	)			3,832,486
Other Investments:
Gross gains			933,713				729,688
Gross losses			-				-
			933,713				729,688
Net unrealized gains			758,198				4,562,174
Net gains on investments		$	1,590,616			$	4,591,019

Schedule of Securities with Unrealized Losses

		December 31, 2020
		Less than 12 months												12 months or more												Total
		Estimated								No. of				Estimated								No. of				Estimated
		Fair				Unrealized				Positions				Fair				Unrealized				Positions				Fair				Unrealized
Category		Value				Losses				Held				Value				Losses				Held				Value				Losses
Fixed-Maturity Securities:
U.S. Treasury securities
and obligations of U.S.
government corporations
and agencies		$	-			$	-				-			$	-			$	-				-			$	-			$	-
Political subdivisions of
States, Territories and
Possessions			-				-				-				-				-				-				-				-
Corporate and other
bonds industrial and
miscellaneous			1,006,901				(13,216	)			1				-				-				-				1,006,901				(13,216	)
Residential mortgage and other
asset backed securities			6,137,522				(7,371	)			5				3,735,732				(111,947	)			10				9,873,254				(119,318	)
Total fixed-maturity
securities		$	7,144,423			$	(20,587	)			6			$	3,735,732			$	(111,947	)			10			$	10,880,155			$	(132,534	)

		December 31, 2019
		Less than 12 months												12 months or more												Total
		Estimated								No. of				Estimated								No. of				Estimated
		Fair				Unrealized				Positions				Fair				Unrealized				Positions				Fair				Unrealized
Category		Value				Losses				Held				Value				Losses				Held				Value				Losses
Fixed-Maturity Securities:
U.S. Treasury securities
and obligations of U.S.
government corporations
and agencies		$	-			$	-				-			$	-			$	-				-			$	-			$	-
Political subdivisions of
States, Territories and
Possessions			3,067,428				(11,316	)			3				-				-				-				3,067,428				(11,316	)
Corporate and other
bonds industrial and
miscellaneous			3,730,478				(16,685	)			7				1,300,915				(13,473	)			3				5,031,393				(30,158	)
Residential mortgage and other
asset backed securities			5,862,636				(68,793	)			5				13,534,768				(276,451	)			21				19,397,404				(345,244	)
Total fixed-maturity
securities		$	12,660,542			$	(96,794	)			15			$	14,835,683			$	(289,924	)			24			$	27,496,225			$	(386,718	)

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