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Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments

Schedule of Available for Sale Securities

		December 31, 2021
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net Unrealized
		Amortized				Unrealized				Less than 12				More than 12				Fair				Gains/
Category		Cost				Gains				Months				Months				Value				(Losses)
Fixed-Maturity Securities:
Political subdivisions of States, Territories and Possessions		$	17,236,750			$	246,748			$	(197,984	)		$	-			$	17,285,514			$	48,764
Corporate and other bonds Industrial and miscellaneous			80,534,769				2,603,411				(126,926	)			-				83,011,254				2,476,485
Residential mortgage and other asset backed securities (1)			58,036,959				355,985				(489,258	)			(120,344	)			57,783,342				(253,617	)
Total fixed-maturity securities		$	155,808,478			$	3,206,144			$	(814,168	)		$	(120,344	)		$	158,080,110			$	2,271,632

		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

Schedule of available for sale fixed maturity securities contractual maturity

		December 31, 2021								December 31, 2020
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	1,153,099			$	1,156,636			$	8,559,005			$	8,668,064
One to five years			43,007,110				44,914,759				44,137,567				47,745,430
Five to ten years			26,808,853				27,332,581				55,508,712				63,159,775
More than 10 years			26,802,457				26,892,792				8,676,409				9,314,062
Residential mortgage and other asset backed securities			58,036,959				57,783,342				28,163,891				28,661,941
Total		$	155,808,478			$	158,080,110			$	145,045,584			$	157,549,272

Schedule of equity securities

		December 31, 2021
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	22,019,509			$	1,007,009			$	(184,617	)		$	22,841,901
Common stocks, mutual funds, and exchange traded funds			15,451,160				1,573,653				(179,712	)			16,845,101
Total		$	37,470,669			$	2,580,662			$	(364,329	)		$	39,687,002

		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

Schedule of Other Investments

		December 31, 2021												December 31, 2020
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value
Other Investments:
Hedge fund		$	3,999,381			$	3,562,034			$	7,561,415			$	1,999,381			$	1,369,245			$	3,368,626
Real estate limited partnership			-				-				-				150,000				-				150,000
Total		$	3,999,381			$	3,562,034			$	7,561,415			$	2,149,381			$	1,369,245			$	3,518,626

Schedule of Held to Maturity Securities

		December 31, 2021
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net Unrealized
		Amortized				Unrealized				Less than 12				More than 12				Fair				Gains/
Category		Cost				Gains				Months				Months				Value				(Losses)
Held-to-Maturity Securities:
U.S. Treasury securities		$	729,642			$	209,633			$	-			$	-			$	939,275			$	209,633
Political subdivisions of States, Territories and Possessions			998,239				22,856				-				-				1,021,095				22,856
Exchange traded debt			304,111				85				(13,921	)							290,275				(13,836	)
Corporate and other bonds
Industrial and miscellaneous			6,234,342				280,951				(12,779	)			-				6,502,514				268,172
Total		$	8,266,334			$	513,525			$	(26,700	)		$	-			$	8,753,159			$	486,825

		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

Schedule of Held to Maturity Securities by contractual maturity

		December 31, 2021								December 31, 2020
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	994,712			$	1,008,180			$	-			$	-
One to five years			1,205,829				1,290,465				2,598,193				2,777,936
Five to ten years			1,513,942				1,648,808				1,502,603				1,727,316
More than 10 years			4,551,851				4,805,706				3,268,019				3,689,572
Total		$	8,266,334			$	8,753,159			$	7,368,815			$	8,194,824

Schedule of Investment Income

		Years ended
		December 31,
		2021				2020
Income:
Fixed-maturity securities		$	5,446,795			$	5,533,047
Equity securities			1,529,020				1,159,507
Cash and cash equivalents			11,511				91,603
Total			6,987,326				6,784,157
Expenses:
Investment expenses			365,934				278,554
Net investment income		$	6,621,392			$	6,505,603

Schedule of Securities with realized gains and losses on investments

		Years ended
		December 31,
		2021				2020
Realized Gains (Losses)
Fixed-maturity securities:
Gross realized gains		$	5,189,810			$	1,108,159
Gross realized losses			(90,111	)			(327,890	)
			5,099,699				780,269
Equity securities:
Gross realized gains			2,415,136				832,394
Gross realized losses			(280,807	)			(780,245	)
			2,134,329				52,149
Other Investments:
Gross realized gains			83,798				-
Gross realized losses			-				-
			83,798				-
Net realized gains			7,317,826				832,418
Unrealized Gains (Losses)
Equity Securities:
Gross gains			276,340				41,517
Gross losses			-				(217,032	)
			276,340				(175,515	)
Other Investments:
Gross gains			2,192,789				933,713
Gross losses			-				-
			2,192,789				933,713
Net unrealized gains			2,469,129				758,198
Net gains on investments		$	9,786,955			$	1,590,616

Schedule of Securities with Unrealized Losses

		December 31, 2021
		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			6,768,123				(197,984	)			5				-				-				-				6,768,123				(197,984	)
Corporate and other bonds industrial and miscellaneous			17,593,707				(126,926	)			15				-				-				-				17,593,707				(126,926	)
Residential mortgage and other asset backed securities			45,399,451				(489,258	)			26				2,923,182				(120,344	)			2				48,322,633				(609,602	)
Total fixed-maturity securities		$	69,761,281			$	(814,168	)			46			$	2,923,182			$	(120,344	)			2			$	72,684,463			$	(934,512	)

		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	)

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