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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 1,426,679 $ (5,054,710)
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Net losses on investments 92,357 2,639
Net unrealized gains on equity investments (641,722) (863,713)
Net unrealized gains on other investments (177,026) (363,797)
Depreciation and amortization 596,513 808,130
Bad debt expense 8,905 19,504
(Accretion of bond discount) amortization of bond premium, net (61,218) (37,795)
Amortization of discount and issuance costs on debt 296,919 296,919
Stock-based compensation 265,789 216,767
Deferred income tax benefit 378,024 (1,248,973)
Decrease (increase) in operating assets:    
Premiums receivable, net (306,894) 521,963
Reinsurance receivables, net 4,869,975 (11,553,545)
Deferred policy acquisition costs 375,413 1,127,409
Other assets (424,596) (172,487)
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves 680,577 5,782,305
Unearned premiums (671,761) (2,332,884)
Advance premiums 783,344 2,821,363
Reinsurance balances payable (2,039,754) 7,048,246
Deferred ceding commission revenue (170,765) 119,860
Accounts payable, accrued expenses and other liabilities 817,461 (504,006)
Net cash flows provided by (used in) operating activities 6,098,220 (3,366,805)
Cash flows from investing activities:    
Purchase - fixed-maturity securities available-for-sale (45,625,725) (10,974,819)
Sale and maturity - fixed-maturity securities available-for-sale 32,801,612 13,554,928
Sale - equity securities 1,777,738 75,554
Acquisition of property and equipment (540,975) (466,073)
Net cash flows (used in) provided by investing activities (11,587,350) 2,189,590
Cash flows from financing activities:    
Principal payments on equipment financing (282,176) (266,160)
Issue costs on 2022 Notes 0 (13,263)
Withholding taxes paid on vested restricted stock awards (6,392) (837)
Net cash flows used in financing activities (288,568) (280,260)
Decrease in cash and cash equivalents (5,777,698) (1,457,475)
Cash and cash equivalents, beginning of period 8,976,998 11,958,228
Cash and cash equivalents, end of period 3,199,300 10,500,753
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 98,456 434,155
Supplemental schedule of non-cash investing and financing activities:    
Other comprehensive (loss) income, net of tax $ (440,408) $ 1,951,352