Fair Value Of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Of Financial Instruments

Fair value of financial instruments

The following table presents information about the Company’s financial instruments and their estimated fair values, which are measured on a recurring basis, allocated among the three levels within the fair value hierarchy as of December 31, 2019 and 2018:

	Level 1		Level 2		Level 3		Total
December 31, 2019
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	15,235,332	$	—	$	—	$	15,235,332
Corporate securities		—		43,029,333		—		43,029,333
Agency mortgage-backed securities		—		25,235,045		—		25,235,045
Short-term investments		2,196,815		—		—		2,196,815
Total financial instruments at fair value	$	17,432,147	$	68,264,378	$	—	$	85,696,525
December 31, 2018
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	16,619,619	$	—	$	—	$	16,619,619
Corporate securities		—		40,003,723		—		40,003,723
Agency mortgage-backed securities		—		20,286,795		—		20,286,795
Short-term investments		4,690,954		—		—		4,690,954
Total financial instruments at fair value	$	21,310,573	$	60,290,518	$	—	$	81,601,091