| Investments, Debt and Equity Securities [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
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Investments, Debt and Equity Securities [Abstract] | |
Schedule of Gross Unrealized Gains (Losses) and Amortized Cost for Securities | The aggregate estimated fair value, gross unrealized holding gains, gross unrealized holding losses, and amortized cost for securities by major security type at December 31 were as follows: | | | | | | | | | | | | | | | | | December 31, 2016 | Amortized Cost |
| Gross Unrealized Gains |
| Gross Unrealized Losses |
| Estimated Fair Value | Fixed maturities, available-for-sale, at fair value: |
|
|
|
|
|
|
| General obligations of U.S. states, territories and political subdivisions | $ | 29,374,774 |
|
| $ | 440,628 |
|
| $ | 298,533 |
|
| $ | 29,516,869 |
| Special revenue issuer obligations of U.S. states, territories and political subdivisions | 57,459,818 |
|
| 1,619,444 |
|
| 502,135 |
|
| 58,577,127 |
| Corporate debt securities | 13,327,765 |
|
| 512,316 |
|
| — |
|
| 13,840,081 |
| Total | $ | 100,162,357 |
|
| $ | 2,572,388 |
|
| $ | 800,668 |
|
| $ | 101,934,077 |
| Equity securities, available-for-sale, at fair value: |
|
|
|
|
|
|
|
|
|
|
| Common stocks | $ | 24,836,032 |
|
| $ | 16,392,210 |
|
| $ | 48,983 |
|
| $ | 41,179,259 |
| Total | $ | 24,836,032 |
|
| $ | 16,392,210 |
|
| $ | 48,983 |
|
| $ | 41,179,259 |
| Short-term investments: |
|
|
|
|
|
|
|
|
|
|
| Money market funds and certificates of deposit | $ | 6,558,840 |
|
| $ | — |
|
| $ | — |
|
| $ | 6,558,840 |
| Total | $ | 6,558,840 |
|
| $ | — |
|
| $ | — |
|
| $ | 6,558,840 |
|
| | | | | | | | | | | | | | | | | December 31, 2015 | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | Fixed maturities, available-for-sale, at fair value: | | | | | | | | General obligations of U.S. states, territories and political subdivisions | $ | 31,883,439 |
| | $ | 987,595 |
| | $ | 11,734 |
| | $ | 32,859,300 |
| Special revenue issuer obligations of U.S. states, territories and political subdivisions | 52,202,815 |
| | 2,604,152 |
| | 26,127 |
| | 54,780,840 |
| Corporate debt securities | 17,004,985 |
| | 539,832 |
| | 58,473 |
| | 17,486,344 |
| Auction rate securities | 924,587 |
| | 15,313 |
| | — |
| | 939,900 |
| Total | $ | 102,015,826 |
| | $ | 4,146,892 |
| | $ | 96,334 |
| | $ | 106,066,384 |
| Equity securities, available-for sale, at fair value: | | | | | | | | Common stocks | $ | 23,855,873 |
| | $ | 13,785,968 |
| | $ | 128,377 |
| | $ | 37,513,464 |
| Total | $ | 23,855,873 |
| | $ | 13,785,968 |
| | $ | 128,377 |
| | $ | 37,513,464 |
| Short-term investments: | |
| | |
| | |
| | |
| Money market funds and certificates of deposit | $ | 6,865,406 |
| | $ | — |
| | $ | — |
| | $ | 6,865,406 |
| Total | $ | 6,865,406 |
| | $ | — |
| | $ | — |
| | $ | 6,865,406 |
|
|
Schedule Of Fixed Maturity Securities | The scheduled maturities of fixed maturity securities at December 31, 2016 were as follows: | | | | | | | | | | Available-for-Sale | | Amortized Cost | | Fair Value | Due in one year or less | $ | 17,441,766 |
| | $ | 17,562,215 |
| Due after one year through five years | 33,072,959 |
| | 34,149,161 |
| Due five years through ten years | 47,658,033 |
| | 47,758,923 |
| Due after ten years | 1,989,599 |
| | 2,463,778 |
| Total | $ | 100,162,357 |
| | $ | 101,934,077 |
|
|
Schedule of Earnings on Investments | Earnings on investments for the years ended December 31 were as follows: | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Fixed maturities | $ | 3,506,484 |
| | $ | 3,439,296 |
| | $ | 3,282,810 |
| Equity securities | 1,157,550 |
| | 1,086,365 |
| | 973,419 |
| Invested cash and other short-term investments | 19,982 |
| | 5,605 |
| | 3,202 |
| Miscellaneous interest | 473 |
| | 53 |
| | 70 |
| Investment income | $ | 4,684,489 |
| | $ | 4,531,319 |
| | $ | 4,259,501 |
|
|
Schedule of Gross Realized Gain (Loss) on Securities | Gross realized gains and losses on sales of investments for the years ended December 31 are summarized as follows: | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Gross realized gains: | | | | | | Special revenue issuer obligations of U.S. states, territories and political subdivisions | $ | 161 |
| | $ | — |
| | $ | — |
| Corporate debt securities | 119,001 |
| | 5,417 |
| | 6,670 |
| Common stocks and nonredeemable preferred stocks | 953,491 |
| | 1,572,636 |
| | 1,021,463 |
| Auction rate securities | 74,996 |
| | — |
| | — |
| Total | 1,147,649 |
| | 1,578,053 |
| | 1,028,133 |
| Gross realized losses: | | | | | | General obligations of U.S. states, territories and political subdivisions | (535 | ) | | (12,319 | ) | | — |
| Special revenue issuer obligations of U.S. states, territories and political subdivisions | (1,085 | ) | | (397 | ) | | — |
| Common stocks and nonredeemable preferred stocks | (173,357 | ) | | (846,500 | ) | | (509,854 | ) | Other than temporary impairment of securities | (233,941 | ) | | (751,059 | ) | | (14,542 | ) | Total | (408,918 | ) | | (1,610,275 | ) | | (524,396 | ) | Net realized gain (loss) | $ | 738,731 |
| | $ | (32,222 | ) | | $ | 503,737 |
| Net realized gain (loss) on other investments: | | | | | | Impairments of other assets and investments | $ | — |
| | $ | (233,069 | ) | | $ | (10,062 | ) | Net gain on other assets and investments | 29,705 |
| | 149,128 |
| | 45,288 |
| Net loss on other assets and investments | — |
| | — |
| | (270,669 | ) | Total | $ | 29,705 |
| | $ | (83,941 | ) | | $ | (235,443 | ) | Net realized gain (loss) on investments | $ | 768,436 |
| | $ | (116,163 | ) | | $ | 268,294 |
|
|
Schedule of Unrealized Loss on Investments | The following table presents the gross unrealized losses on investment securities and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous loss position at December 31, 2016 and 2015: | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or Longer | | Total | December 31, 2016 | Estimated Fair Value | | Unrealized Loss | | Estimated Fair Value | | Unrealized Loss | | Estimated Fair Value | | Unrealized Loss | General obligations of U.S. states, territories and political subdivisions | $ | 13,884,808 |
| | $ | (298,533 | ) | | $ | — |
| | $ | — |
| | $ | 13,884,808 |
| | $ | (298,533 | ) | Special revenue issuer obligations of U.S. states, territories and political subdivisions | 16,161,906 |
| | (502,135 | ) | | — |
| | — |
| | 16,161,906 |
| | (502,135 | ) | Corporate debt securities | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total fixed maturity securities | $ | 30,046,714 |
| | $ | (800,668 | ) | | $ | — |
| | $ | — |
| | $ | 30,046,714 |
| | $ | (800,668 | ) | Equity securities | 380,400 |
| | (48,983 | ) | | — |
| | — |
| | 380,400 |
| | (48,983 | ) | Total temporarily impaired securities | $ | 30,427,114 |
| | $ | (849,651 | ) | | $ | — |
| | $ | — |
| | $ | 30,427,114 |
| | $ | (849,651 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2015 | | | | | | | | | | | | General obligations of U.S. states, territories and political subdivisions | $ | 1,758,345 |
| | $ | (11,734 | ) | | $ | — |
| | $ | — |
| | $ | 1,758,345 |
| | $ | (11,734 | ) | Special revenue issuer obligations of U.S. states, territories and political subdivisions | 1,672,217 |
| | (5,139 | ) | | 1,183,963 |
| | (20,989 | ) | | 2,856,180 |
| | (26,128 | ) | Corporate debt securities | 6,981,275 |
| | (58,472 | ) | | — |
| | — |
| | 6,981,275 |
| | (58,472 | ) | Total fixed maturity securities | $ | 10,411,837 |
| | $ | (75,345 | ) | | $ | 1,183,963 |
| | $ | (20,989 | ) | | $ | 11,595,800 |
| | $ | (96,334 | ) | Equity securities | 5,533,667 |
| | (128,377 | ) | | — |
| | — |
| | 5,533,667 |
| | (128,377 | ) | Total temporarily impaired securities | $ | 15,945,504 |
| | $ | (203,722 | ) | | $ | 1,183,963 |
| | $ | (20,989 | ) | | $ | 17,129,467 |
| | $ | (224,711 | ) |
|
Schedule of Variable Interest Entities | The following table sets forth details about the Company's variable interest investments in VIEs, which are structured either as limited partnerships ("LPs") or limited liability companies ("LLCs"), as of December 31, 2016: | | | | | | | | | | | | | | | | Type of Investment | | Balance Sheet Classification | | Carrying Value | | Estimated Fair Value | | Maximum Potential Loss (a) | Tax credit LPs | | Other investments | | $ | 1,137,346 |
| | $ | 1,137,346 |
| | $ | 1,325,000 |
| Real estate LLCs or LPs | | Other investments | | 4,691,173 |
| | 5,119,361 |
| | 7,150,000 |
| Small business investment LPs | | Other investments | | 3,134,234 |
| | 3,024,455 |
| | 9,400,000 |
| Total | | | | $ | 8,962,753 |
| | $ | 9,281,162 |
| | $ | 17,875,000 |
|
| | | | (a) | | Maximum potential loss is calculated as the total investment in the LLC or LP including any capital commitments that may have not yet been called. The Company is not exposed to any loss beyond the total commitment of its investment. |
|
Schedule of Fair Value Assets Measured on Recurring Basis | The following table presents, by level, the financial assets carried at estimated fair value measured on a recurring basis as of December 31, 2016 and 2015. The table does not include cash on hand and also does not include assets that are measured at historical cost or any basis other than fair value. Level 3 assets are comprised solely of ARS. | | | | | | | | | | | | | | | | | As of December 31, 2016 | Level 1 | | Level 2 | | Level 3 | | Total | Short-term investments | $ | 6,558,840 |
| | $ | — |
| | $ | — |
| | $ | 6,558,840 |
| Equity securities: | | | | | | | | Common stocks | 41,179,259 |
| | — |
| | — |
| | 41,179,259 |
| Fixed maturities: | | | | | | | | Obligations of U.S. states, territories and political subdivisions* | — |
| | 88,093,996 |
| | — |
| | 88,093,996 |
| Corporate debt securities* and auction rate security | — |
| | 13,840,081 |
| | — |
| | 13,840,081 |
| Total | $ | 47,738,099 |
| | $ | 101,934,077 |
| | $ | — |
| | $ | 149,672,176 |
|
| | | | | | | | | | | | | | | | | As of December 31, 2015 | Level 1 | | Level 2 | | Level 3 | | Total | Short-term investments | $ | 6,865,406 |
| | $ | — |
| | $ | — |
| | $ | 6,865,406 |
| Equity securities: | | | | | | | | Common stocks and nonredeemable preferred stock | 37,513,464 |
| | — |
| | — |
| | 37,513,464 |
| Fixed maturities: | | | | | | | | Obligations of U.S. states, territories and political subdivisions* | — |
| | 87,640,140 |
| | — |
| | 87,640,140 |
| Corporate debt securities* and auction rate security | — |
| | 17,486,344 |
| | 939,900 |
| | 18,426,244 |
| Total | $ | 44,378,870 |
| | $ | 105,126,484 |
| | $ | 939,900 |
| | $ | 150,445,254 |
|
*Denotes fair market value obtained from pricing services. |
Schedule of Carrying Value and Fair Value of Financial Assets | The carrying amounts and estimated fair values of other financial instruments (see previous table for investments carried at estimated fair value) as of December 31, 2016 and 2015 are presented in the following table: | | | | | | | | | | | | | | | | | | | | | As of December 31, 2016 | | | | | | | | | | Financial Assets | Carrying Value | | Estimated Fair Value | | Level 1 | | Level 2 | | Level 3 | Cash and cash equivalents | $ | 27,928,472 |
| | $ | 27,928,472 |
| | $ | 27,928,472 |
| | $ | — |
| | $ | — |
| Cost-basis investments | 4,244,402 |
| | 4,497,665 |
| | — |
| | — |
| | 4,497,665 |
| Accrued dividends and interest | 1,035,152 |
| | 1,035,152 |
| | 1,035,152 |
| | — |
| | — |
| Total | $ | 33,208,026 |
| | $ | 33,461,289 |
| | $ | 28,963,624 |
| | $ | — |
| | $ | 4,497,665 |
|
| | | | | | | | | | | | | | | | | | | | | As of December 31, 2015 | | | | | | | | | | Financial Assets | Carrying Value | | Estimated Fair Value | | Level 1 | | Level 2 | | Level 3 | Cash and cash equivalents | $ | 21,790,068 |
| | $ | 21,790,068 |
| | $ | 21,790,068 |
| | $ | — |
| | $ | — |
| Cost-basis investments | 3,588,314 |
| | 3,684,020 |
| | — |
| | — |
| | 3,684,020 |
| Accrued dividends and interest | 1,004,126 |
| | 1,004,126 |
| | 1,004,126 |
| | — |
| | — |
| Total | $ | 26,382,508 |
| | $ | 26,478,214 |
| | $ | 22,794,194 |
| | $ | — |
| | $ | 3,684,020 |
|
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Schedule of Fair Value Assets Measured at Unobservable Input Reconciliation | The following table presents a reconciliation of the Company’s assets measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3), which are all ARS securities, for the twelve months ended December 31, 2016 and 2015: | | | | | | | | | Changes in fair value during the year ended December 31: | 2016 | | 2015 | Beginning balance at January 1 | $ | 939,900 |
| | $ | 939,100 |
| Redemptions and sales | (1,000,000 | ) | | — |
| Realized gain – included in net realized gain (loss) on investments | 74,996 |
| | — |
| Unrealized (loss) gain – included in other comprehensive income (loss) | (14,896 | ) | | 800 |
| Ending balance at December 31 | $ | — |
| | $ | 939,900 |
|
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Schedule of Estimated Fair Value Hierarchy of Investments and Related Impairments Recognized | The following table summarizes the corresponding estimated fair value hierarchy of such investments at December 31, 2016 and 2015 and the related impairments recognized:
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | Valuation Method | | Impaired | | Level 1 | | Level 2 | | Level 3 | | Total at Estimated Fair Value | | Impairment Losses | Cost-basis investments | Fair Value | | Yes | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Total cost-basis investments and other assets | | | | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2015 | Valuation Method | | Impaired | | Level 1 | | Level 2 | | Level 3 | | Total at Estimated Fair Value | | Impairment Losses | Cost-basis investments | Fair Value | | Yes | | $ | — |
| | $ | — |
| | $ | 163,350 |
| | $ | 163,350 |
| | $ | (233,069 | ) | Total cost-basis investments and other assets | | | | | $ | — |
| | $ | — |
| | $ | 163,350 |
| | $ | 163,350 |
| | $ | (233,069 | ) |
|