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Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investments

Schedule of Available for Sale Securities

		December 31, 2022
		Cost or				Gross				Gross Unrealized Losses								Estimated				Net
		Amortized				Unrealized				Less than 12				More than 12				Fair				Unrealized
Category		Cost				Gains				Months				Months				Value				Losses
Fixed-Maturity Securities:
U.S. Treasury securities and obligations of U.S. government  corporations and agencies (1)		$	23,874,545			$	1,479			$	(6,928	)		$	-			$	23,869,096			$	(5,449	)
Political subdivisions of States, Territories and Possessions			17,108,154				-				(2,195,273	)			(1,771,494	)			13,141,387				(3,966,767	)
Corporate and other bonds Industrial and miscellaneous			80,338,464				-				(5,796,994	)			(2,458,985	)			72,082,485				(8,255,979	)
Residential mortgage and other asset backed securities (2)			53,597,264				58,398				(882,664	)			(7,150,803	)			45,622,195				(7,975,069	)
Total fixed-maturity securities		$	174,918,427			$	59,877			$	(8,881,859	)		$	(11,381,282	)		$	154,715,163			$	(20,203,264	)

		December 31, 2021
																						Net
		Cost or				Gross				Gross Unrealized Losses								Estimated				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			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

Schedule of available for sale fixed maturity securities contractual maturity

		December 31, 2022								December 31, 2021
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	16,359,100			$	16,307,991			$	1,153,099			$	1,156,636
One to five years			18,605,987				14,085,113				43,007,110				44,914,759
Five to ten years			54,559,158				52,230,283				26,808,853				27,332,581
More than 10 years			31,796,918				26,469,581				26,802,457				26,892,792
Residential mortgage and other asset backed securities			53,597,264				45,622,195				58,036,959				57,783,342
Total		$	174,918,427			$	154,715,163			$	155,808,478			$	158,080,110

Schedule of equity securities

		December 31, 2022
						Gross				Gross				Estimated
Category		Cost				Gains				Losses				Fair Value
Equity Securities:
Preferred stocks		$	13,583,942			$	-			$	(3,589,313	)		$	9,994,629
Common stocks, mutual funds, and exchange traded funds			4,502,758				158,635				(821,632	)			3,839,761
Total		$	18,086,700			$	158,635			$	(4,410,945	)		$	13,834,390

		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

Schedule of Other Investments

		December 31, 2022												December 31, 2021
						Gross				Estimated								Gross				Estimated
Category		Cost				Gains				Fair Value				Cost				Gains				Fair Value
Other Investments:
Hedge fund		$	1,987,040			$	784,612			$	2,771,652			$	3,999,381			$	3,562,034			$	7,561,415

Schedule of Held to Maturity Securities

		December 31, 2022
																						Net
		Cost or				Gross				Gross Unrealized Losses								Estimated				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		$	1,228,560			$	28,400			$	(34,077	)		$	-			$	1,222,883			$	(5,677	)
Political subdivisions of States, Territories and Possessions			498,638				2,092				-				-				500,730				2,092
Exchange traded debt			304,111				-				(29,111	)			-				275,000				(29,111	)
Corporate and other bonds Industrial and miscellaneous			5,734,831				36,968				(809,746	)			(360,278	)			4,601,775				(1,133,056	)
Total		$	7,766,140			$	67,460			$	(872,934	)		$	(360,278	)		$	6,600,388			$	(1,165,752	)

		December 31, 2021
																						Net
		Cost or				Gross				Gross Unrealized Losses								Estimated				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

Schedule of Held to Maturity Securities by contractual maturity

		December 31, 2022								December 31, 2021
		Amortized				Estimated				Amortized				Estimated
Remaining Time to Maturity		Cost				Fair Value				Cost				Fair Value
Less than one year		$	708,535			$	743,575			$	994,712			$	1,008,180
One to five years			1,120,507				1,088,522				1,205,829				1,290,465
Five to ten years			1,402,704				1,200,720				1,513,942				1,648,808
More than 10 years			4,534,394				3,567,571				4,551,851				4,805,706
Total		$	7,766,140			$	6,600,388			$	8,266,334			$	8,753,159

Schedule of Investment Income

		Years ended
		December 31,
		2022				2021
Income:
Fixed-maturity securities		$	4,211,229			$	5,446,795
Equity securities			1,058,351				1,529,020
Cash and cash equivalents			63,683				11,511
Total			5,333,263				6,987,326
Expenses:
Investment expenses			396,485				365,934
Net investment income		$	4,936,778			$	6,621,392

Schedule of Securities with realized gains and losses on investments

		Years ended
		December 31,
		2022				2021
Realized Gains (Losses)
Fixed-maturity securities:
Gross realized gains		$	143,622			$	5,189,810
Gross realized losses			(208,955	)			(90,111	)
			(65,333	)			5,099,699
Equity securities:
Gross realized gains			1,384,432				2,415,136
Gross realized losses			(2,048,395	)			(280,807	)
			(663,963	)			2,134,329
Other Investments:
Gross realized gains			589,233				83,798
Gross realized losses			-				-
			589,233				83,798
Net realized (losses) gains			(140,063	)			7,317,826
Unrealized (Losses) Gains
Equity Securities:
Gross gains			-				276,340
Gross losses			(6,494,380	)			-
			(6,494,380	)			276,340
Other Investments:
Gross gains			-				2,192,789
Gross losses			(2,757,422	)			-
			(2,757,422	)			2,192,789
Net unrealized (losses) gains			(9,251,802	)			2,469,129
Net (losses) gains on investments		$	(9,391,865	)		$	9,786,955

Schedule of Securities with Unrealized Losses

		December 31, 2022
		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		$	18,918,196			$	(6,928	)			3			$	-				-				-			$	18,918,196			$	(6,928	)
Political subdivisions of States, Territories and Possessions			7,970,633				(2,195,273	)			9				5,170,753				(1,771,494	)			5				13,141,386				(3,966,767	)
Corporate and other bonds industrial and miscellaneous			56,910,104				(5,796,994	)			75				15,172,381				(2,458,985	)			15				72,082,485				(8,255,979	)
Residential mortgage and other asset backed securities			10,145,880				(882,664	)			22				34,753,178				(7,150,803	)			26				44,899,058				(8,033,467	)
Total fixed-maturity securities		$	93,944,813			$	(8,881,859	)			109			$	55,096,312			$	(11,381,282	)			46			$	149,041,125			$	(20,263,141	)

		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	)

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