Fair Value Of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

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 March 31, 2014, and December 31, 2013:

		Level 1		Level 2		Level 3		Total
March 31, 2014
Financial instruments:
Fixed maturity securities:
U.S. treasury securities	$	5,094,016	$	—	$	—	$	5,094,016
Certificates of deposit		—		6,649,000		—		6,649,000
Total fixed maturity securities		5,094,016		6,649,000		—		11,743,016
Cash and short-term investments		94,660,049		—		—		94,660,049
Total financial instruments at fair value	$	99,754,065	$	6,649,000	$	—	$	106,403,065
December 31, 2013
Financial instruments:
Fixed maturity securities:
U.S. treasury securities	$	5,086,806	$	—	$	—	$	5,086,806
Certificates of deposit		—		6,849,000		—		6,849,000
Total fixed maturity securities		5,086,806		6,849,000		—		11,935,806
Cash and short-term investments		94,183,705		—		—		94,183,705
Total financial instruments at fair value	$	99,270,511	$	6,849,000	$	—	$	106,119,511