Fair Value Of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Of Financial Instruments Tables

Fair value of financial instruments

The following table presents information about the Company’s consolidated financial instruments and their estimated fair values, which are measured on a recurring basis, and are allocated among the three levels within the fair value hierarchy as of September 30, 2013, and December 31, 2012:

		Level 1		Level 2		Level 3		Total
September 30, 2013
Financial instruments:
Fixed maturities securities:
U.S. treasury securities	$	7,100,054	$	—	$	—	$	7,100,054
Certificates of deposit		—		6,698,000		—		6,698,000
Total fixed maturity securities		7,100,054		6,698,000		—		13,798,054
Cash and short-term investments		93,486,082		—		—		93,486,082
Total financial instruments at fair value	$	100,586,136	$	6,698,000	$	—	$	107,284,136

		Level 1		Level 2		Level 3		Total
December 31, 2012
Financial instruments:
Fixed maturities securities:
U.S. treasury securities	$	23,538,002	$	—	$	—	$	23,538,002
Certificates of deposit		—		10,090,000		—		10,090,000
Total fixed maturity securities		23,538,002		10,090,000		—		33,628,002
Cash and short-term investments		86,416,755		—		—		86,416,755
Total financial instruments at fair value	$	109,954,757	$	10,090,000	$	—	$	120,044,757