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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (311,097) $ (5,444,203)
Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities:    
Net gains on sale of investments (1,127,234) (274,581)
Net unrealized (gains) losses on equity investments (1,003,209) 6,121,608
Net unrealized gains of other investments (829,964) 597,391
Depreciation and amortization 822,340 687,094
Bad debts 59,876 35,737
Amortization of bond premium, net 31,639 105,189
Amortization of discount and issuance costs on long-term debt 44,045 44,045
Stock-based compensation 494,998 487,450
Deferred income tax (benefit) expense (132,990) 397,593
(Increase) decrease in operating assets:    
Premiums receivable, net 874,142 757,551
Reinsurance receivables, net 8,093,987 (1,958,517)
Deferred policy acquisition costs 790,526 1,062,490
Other assets (478,564) (521,521)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 1,655,831 (2,647,512)
Unearned premiums (3,789,477) (5,904,700)
Advance premiums 1,485,491 (47,633)
Reinsurance balances payable (4,643,237) (6,377,437)
Deferred ceding commission revenue (201) (799,997)
Accounts payable, accrued expenses and other liabilities (644,102) (1,576,461)
Net cash flows provided by (used in) operating activities 1,392,800 (15,256,414)
Cash flows from investing activities:    
Purchase - fixed-maturity securities held-to-maturity (1,827,425) 0
Purchase - fixed-maturity securities available-for-sale (5,424,374) (961,000)
Purchase - equity securities (5,732,648) (5,220,778)
Purchase - other investments (2,000,000) 0
Sale or maturity - fixed-maturity securities available-for-sale 11,548,405 10,553,818
Sale - equity securities 6,433,262 5,518,428
Acquisition of property and equipment (1,034,064) (432,112)
Net cash flows provided by investing activities 1,963,156 9,458,356
Cash flows from financing activities:    
Withholding taxes paid on vested retricted stock awards (146,606) (87,954)
Purchase of treasury stock (65,915) (242,724)
Dividends paid (427,217) (675,960)
Net cash flows used in financing activities (639,738) (1,006,638)
Increase (decrease) in cash and cash equivalents 2,716,218 (6,804,696)
Cash and cash equivalents, beginning of period 19,463,742 32,391,485
Cash and cash equivalents, end of period 22,179,960 25,586,789
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest $ 0 $ 0