Segment Reporting

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

Segment Reporting

NOTE 6 – SEGMENT REPORTING

ASC 280 establishes standards for the way information about operating segments are reported in financial statements. The Company has identified its insurance company operation as its primary reporting segment. Revenues from this segment comprised 89% of consolidated revenues for the three months ended March 31, 2013 and 2012. The Company’s remaining operations constitute a variety of specialty insurance services, each with unique characteristics and individually insignificant to consolidated revenues.

Revenues, income before income taxes, and assets by segment are as follows:

	Three Months Ended
	March 31
	2013			2012
Revenues
Insurance company operation	$	7,044,512		$	7,409,197
Other insurance operations		3,054,560			3,139,003
Intersegment eliminations (1)		(2,149,289	)		(2,213,014	)
Total other insurance operations		905,271			925,989
Total revenues	$	7,949,783		$	8,335,186
Income before Income Taxes
Insurance company operation	$	381,038		$	1,577,585
Other insurance operations		(324,860	)		(804,607	)
Total income before income taxes	$	56,178		$	772,978

	As of
	March 31			December 31
	2013			2012
Assets
Insurance company operation	$	124,450,190		$	124,503,134
Intersegment eliminations (2)		(996,240	)		(828,309	)
Total insurance company operation		123,453,950			123,674,825
Other insurance operations		15,575,708			16,333,201
Total assets	$	139,029,658		$	140,008,026

(1) Intersegment revenue eliminations reflect commission paid by Crusader to Unifax Insurance Systems, Inc., (Unifax) a wholly owned subsidiary of Unico.

(2) Intersegment asset eliminations reflect the elimination of Crusader receivables and Unifax payables.