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Fair Value of Financial Instruments and Real Estate | 9 Months Ended
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Sep. 30, 2022
Fair Value of Financial Instruments and Real Estate |
Fair Value of Financial Instruments and Real Estate | Note 5 - Fair Value of Financial Instruments and Real Estate The estimated fair values of the Company’s financial instruments and real estate, including their fair value level as of September 30, 2022 and December 31, 2021 are as follows:
|  | September 30, 2022 |  |  | December 31, 2021 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Fixed-maturity securities-held-to maturity, Level 1 |  | $ | 7,767,183 |  |  | $ | 6,611,858 |  |  | $ | 8,266,334 |  |  | $ | 8,753,159 |
Cash and cash equivalents, Level 1 |  | $ | 15,111,206 |  |  | $ | 15,111,206 |  |  | $ | 24,290,598 |  |  | $ | 24,290,598 |
Premiums receivable, net, Level 3 |  | $ | 12,891,464 |  |  | $ | 12,891,464 |  |  | $ | 12,318,336 |  |  | $ | 12,318,336 |
Reinsurance receivables, net, Level 3 |  | $ | 59,365,937 |  |  | $ | 59,365,937 |  |  | $ | 40,292,438 |  |  | $ | 40,292,438 |
Real estate, net of accumulated depreciation, Level 3 |  | $ | 2,089,156 |  |  | $ | 3,025,000 |  |  | $ | 2,144,464 |  |  | $ | 3,025,000 |
Reinsurance balances payable, Level 3 |  | $ | 11,475,247 |  |  | $ | 11,475,247 |  |  | $ | 12,961,568 |  |  | $ | 12,961,568 |

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- Definition Disclosure of accounting policy for determining the fair value of financial instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 60 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=7493716&loc=d3e21868-110260 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13279-108611 + Details
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