Fair Value Of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

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, 2015, and December 31, 2014:

		Level 1		Level 2		Level 3		Total
September 30, 2015
Financial instruments:
Fixed maturity securities:
U.S. treasury securities	$	29,163,156	$	—	$	—	$	29,163,156
Certificates of deposit		—		39,095,000		—		39,095,000
Total fixed maturity securities		29,163,156		39,095,000		—		68,258,156
Cash and short-term investments		38,654,471		—		—		38,654,471
Total financial instruments at fair value	$	67,817,627	$	39,095,000	$	—	$	106,912,627
December 31, 2014
Financial instruments:
Fixed maturity securities:
U.S. treasury securities	$	20,069,556	$	—	$	—	$	20,069,556
Certificates of deposit		—		15,089,000		—		15,089,000
Total fixed maturity securities		20,069,556		15,089,000		—		35,158,556
Cash and short-term investments		72,568,570		—		—		72,568,570
Total financial instruments at fair value	$	92,638,126	$	15,089,000	$	—	$	107,727,126