Acccrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Acccrued Expenses and Other Liabilities

NOTE 10 – ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other liabilities consist of the following:

	Year ended December 31
	2011	2010
Policy administration system	$             -	$1,431,917
Premium payable	586,717	1,236,714
Unearned contingent commission on reinsurance treaty	801,601	1,344,341
Unearned policy fee income	886,361	932,930
Profit sharing plan contributions	264,000	393,000
Accrued salaries	428,489	425,428
Commission payable	101,244	77,031
Other	241,193	158,979
Total accrued expenses and other liabilities	$3,309,605	$6,000,340