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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 5,941,616 $ (5,576,727)
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Net realized losses on investments 425,776 13,020
Net unrealized gains on equity investments (622,874) (657,145)
Net unrealized gains on other investments (295,687) (777,888)
Depreciation and amortization 1,216,447 1,586,632
Credit losses 53,865 38,400
Accretion of bond discount, net (362,020) (51,548)
Amortization of discount and issuance costs on debt 593,838 593,839
Stock-based compensation 547,205 429,055
Deferred income tax expense (benefit) 1,583,266 (1,283,823)
Decrease (increase) in operating assets:    
Premiums receivable, net (1,625,197) 1,269,270
Reinsurance receivables, net 9,278,490 (10,114,427)
Deferred policy acquisition costs 227,800 2,379,295
Other assets 431,785 91,182
Increase (decrease) in operating liabilities:    
Loss and loss adjustment expense reserves (5,240,372) (777,903)
Unearned premiums 1,813,141 (5,577,882)
Advance premiums 1,157,841 3,672,153
Reinsurance balances payable (2,355,544) 622,629
Deferred ceding commission revenue (183,783) (929,409)
Accounts payable, accrued expenses and other liabilities 629,295 (1,958,718)
Net cash flows provided by (used in) operating activities 13,214,888 (17,009,995)
Cash flows from investing activities:    
Purchase - fixed-maturity securities available-for-sale (80,234,996) (13,167,937)
Redemption - fixed-maturity securities held-to-maturity 0 500,000
Sale and maturity - fixed-maturity securities available-for-sale 68,122,546 31,375,538
Sale - equity securities 3,538,730 81,054
Acquisition of property and equipment (1,038,479) (898,528)
Net cash flows (used in) provided by investing activities (9,612,199) 17,890,127
Cash flows from financing activities:    
Principal payments on equipment financing (568,504) (536,237)
Issue costs on 2022 Notes 0 (14,299)
Net proceeds from issuance of common stock 168,190 0
Withholding taxes paid on vested restricted stock awards (8,380) (1,400)
Net cash flows used in financing activities (408,694) (551,936)
Increase in cash and cash equivalents 3,193,995 328,196
Cash and cash equivalents, beginning of period 8,976,998 11,958,228
Cash and cash equivalents, end of period 12,170,993 12,286,424
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 0 0
Cash paid for interest 1,389,759 1,730,905
Supplemental schedule of non-cash investing and financing activities:    
Other comprehensive (loss) income, net of tax $ (349,996) $ 1,064,856