Resticted Funds (Tables)

12 Months Ended

Dec. 31, 2020

Resticted Funds

Schedule of Restricted Funds

Restricted funds are as follows:

	Year ended December 31
	2020		2019
Premium trust funds (1)	$	1,595,135	$	1,758,915
Assigned to state agencies (2)		710,000		710,000
Funds held as collateral (3)		787,653		—
Total restricted funds	$	3,092,788	$	2,468,915

(1) As required by law, the Company segregates from its operating accounts the premium collected from insureds that are payable to insurance companies into separate trust accounts.

(2) $510,000 included in fixed maturity investments as of December 31, 2020 and 2019, and $200,000 included in short-term investments as of December 31, 2020 and 2019, are statutory deposits assigned to and held by the California State Treasurer and the Insurance Commissioner of the State of Nevada. These deposits are required for writing certain lines of business in California and for admission in states other than California.

(3) Funds held as collateral by Comerica Bank & Trust, N. A. (“Comerica”) included in available-for-sale fixed maturities pursuant to the reinsurance trust agreement among Crusader, United Specialty Insurance Company (“USIC”) and Comerica to secure payment of Crusader’s liabilities and performance of its obligations under the reinsurance arrangement with USIC.