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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (5,054,710) $ (9,197,532)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Net losses (gains) on investments 2,639 (77,761)
Net unrealized (gains) losses on equity investments (863,713) 3,560,634
Net unrealized (gains) losses on other investments (363,797) 915,532
Depreciation and amortization 808,130 770,110
Bad debt expense 19,504 38,817
Amortization of bond premium, net (37,795) 46,777
Amortization of discount and issuance costs on debt 296,919 44,045
Stock-based compensation 216,767 530,414
Deferred income tax benefit (1,248,973) (2,112,244)
Decrease (increase) in operating assets:    
Premiums receivable, net 521,963 1,250,311
Reinsurance receivables, net (11,553,545) (9,049,252)
Deferred policy acquisition costs 1,127,409 582,406
Other assets (172,487) 1,555,843
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 5,782,305 3,968,253
Unearned premiums (2,332,884) (2,392,728)
Advance premiums 2,821,363 2,539,061
Reinsurance balances payable 7,048,246 (7,870,498)
Deferred ceding commission revenue 119,860 (268,996)
Accounts payable, accrued expenses and other liabilities (504,006) (2,221,270)
Net cash flows used in operating activities (3,366,805) (17,388,078)
Cash flows from investing activities:    
Purchase - fixed-maturity securities available-for-sale (10,974,819) (13,890,402)
Purchase - equity securities 0 (506,081)
Redemption - fixed-maturity securities held-to-maturity 0 500,000
Sale and maturity - fixed-maturity securities available-for-sale 13,554,928 10,181,658
Sale - equity securities 75,554 4,994,884
Acquisition of property and equipment (466,073) (1,565,128)
Net cash flows provided by (used in) investing activities 2,189,590 (285,069)
Cash flows from financing activities:    
Principal payments on equipment financing (266,160) 0
Issue costs on 2022 Notes (13,263) 0
Withholding taxes paid on vested retricted stock awards (837) (358,075)
Dividends paid 0 (425,490)
Net cash flows used in financing activities (280,260) (783,565)
Decrease in cash and cash equivalents (1,457,475) (18,456,712)
Cash and cash equivalents, beginning of period 11,958,228 24,290,598
Cash and cash equivalents, end of period 10,500,753 5,833,886
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 434,155 0
Supplemental schedule of non-cash investing and financing activities:    
Other comprehensive income (loss), net of tax $ 1,951,352 $ (7,761,317)