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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 1,012,264 $ (836,013)
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Net gains on sale of investments (1,844,257) (275,158)
Net unrealized (gains) losses on equity investments (1,924,072) 3,979,115
Net unrealized (gains) losses of other investments (1,507,339) 42,593
Depreciation and amortization 1,659,994 1,360,254
Bad debts 128,518 46,440
Amortization of bond premium, net 107,068 302,279
Amortization of discount and issuance costs on long-term debt 88,090 88,090
Stock-based compensation 981,067 942,387
Deferred income tax expense 588,442 1,017,179
(Increase) decrease in operating assets:    
Premiums receivable, net 971,389 (679,568)
Reinsurance receivables, net 17,267,805 (491,783)
Deferred policy acquisition costs 191,560 1,112,036
Other assets (1,365,167) (1,609,499)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 2,223,810 (3,890,252)
Unearned premiums (1,936,706) (5,376,958)
Advance premiums 2,582,330 1,408,269
Reinsurance balances payable (4,953,735) (6,247,621)
Deferred ceding commission revenue (8,931) (756,824)
Accounts payable, accrued expenses and other liabilities 102,185 (116,404)
Net cash flows provided by (used in) operating activities 14,364,315 (9,981,438)
Cash flows from investing activities:    
Purchase - fixed-maturity securities held-to-maturity (3,111,381) (4,041,750)
Purchase - fixed-maturity securities available-for-sale (5,424,374) (12,447,259)
Purchase - equity securities (8,431,047) (8,290,221)
Purchase - other investments (2,000,000) 0
Sale or maturity - fixed-maturity securities held-to-maturity 625,000 0
Sale or maturity - fixed-maturity securities available-for-sale 22,276,142 19,174,048
Sale - equity securities 9,569,363 6,479,813
Acquisition of property and equipment (2,195,985) (1,101,416)
Net cash flows provided by (used in) investing activities 11,307,718 (226,785)
Cash flows from financing activities:    
Withholding taxes paid on vested retricted stock awards (181,706) (124,342)
Purchase of treasury stock (1,040,050) (801,788)
Dividends paid (854,272) (1,103,400)
Net cash flows used in financing activities (2,076,028) (2,029,530)
Increase (decrease) in cash and cash equivalents 23,596,005 (12,237,753)
Cash and cash equivalents, beginning of period 19,463,742 32,391,485
Cash and cash equivalents, end of period 43,059,747 20,153,732
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest $ 825,000 $ 825,000