Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair value of financial instruments

	Level 1		Level 2		Level 3		Total
March 31, 2021
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	10,883,041	$	-	$	-	$	10,883,041
Corporate securities		-		47,462,245		-		47,462,245
Agency mortgage-backed securities		-		30,205,068		-		30,205,068
Equity securities		3,183,967		-		-		3,183,967
Short-term investments		2,949,946		-		-		2,949,946
Total financial instruments at fair value	$	17,016,954	$	77,667,313	$	-	$	94,684,267
December 31, 2020
Financial instruments:
Available-for-sale fixed maturities:
U.S. Treasury securities	$	10,832,181	$	-	$	-	$	10,832,181
Corporate securities		-		46,451,905		-		46,451,905
Agency mortgage-backed securities		-		26,125,608		-		26,125,608
Equity securities		2,746,706		-		-		2,746,706
Short-term investments		200,000		-		-		200,000
Total financial instruments at fair value	$	13,778,887	$	72,577,513	$	-	$	86,356,400