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Deferred Policy Acquisition Costs and Deferred Ceding Commission Revenue | 12 Months Ended
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Dec. 31, 2024
Deferred Policy Acquisition Costs Disclosures [Abstract] |
Deferred Policy Acquisition Costs and Deferred Ceding Commission Revenue | Deferred Policy Acquisition Costs and Deferred Ceding Commission Revenue Deferred policy acquisition costs incurred and policy-related ceding commission revenue are deferred and amortized to income on property and casualty insurance business as follows:
| Years ended December 31, |
| 2024 |  | 2023 |
Net deferred policy acquisition costs, net of deferred ceding commission revenue, beginning of year | $ | 10,341,699 |  |  | $ | 13,199,884 |  |
Cost incurred and deferred: |  |  |  |
Commissions and brokerage | 37,956,108 |  |  | 29,926,493 |  |
Other underwriting and policy acquisition costs | 10,118,578 |  |  | 8,866,395 |  |
Ceding commission revenue | (20,909,652) |  |  | (19,238,750) |  |
Net deferred policy acquisition costs | 27,165,034 |  |  | 19,554,138 |  |
Amortization | (24,315,601) |  |  | (22,412,323) |  |
| 2,849,433 |  |  | (2,858,185) |  |
Net deferred policy acquisition costs, net of deferred ceding commission revenue, end of year | $ | 13,191,132 |  |  | $ | 10,341,699 |  |
Deferred policy acquisition costs and deferred ceding commission revenue as of December 31, 2024 and 2023 are as follows:
| December 31, |
| 2024 |  | 2023 |
Deferred policy acquisition costs | $ | 24,732,371 |  |  | $ | 19,802,564 |  |
Deferred ceding commission revenue | (11,541,239) |  |  | (9,460,865) |  |
Balance at end of period | $ | 13,191,132 |  |  | $ | 10,341,699 |  |

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- Definition The entire disclosure for deferred policy acquisition costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/944-30/tableOfContent + Details
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