Note 3 - Investments

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

3. INVESTMENTS

The Company owned certificates of deposit insured by the Federal Deposit Insurance Corporation (“FDIC”) with an amortized cost of $1,050,000 as of March 31, 2015 and December 31, 2014. The certificates of deposit included in short-term and fixed maturities investments are classified as available-for-sale and are carried at fair value. The Company invests in corporate bonds with an amortized cost of approximately $7,127,000 and $7,047,000 as of March 31, 2015 and December 31, 2014, respectively. The corporate bonds included in fixed maturities investments are classified as available-for-sale and are carried at fair value.

The Company owned 108 corporate bonds at March 31, 2015, which consist primarily of investment grade securities. At March 31, 2015, total bond fair value was approximately $7,356,000, which consists of 63 different securities each with a credit rating of A- or better totaling approximately $5,067,000. The remaining 45 securities, totaling approximately $2,289,000, had a credit rating of between BBB+ and B-. The weighted average yield-to-cost of the Company’s corporate bonds was approximately 3.23% at March 31, 2015. The weighted average maturity of the Company’s corporate bonds was 5.0 years at March 31, 2015. The unrealized gains and losses on available-for-sale investment securities are due to a change in fair value for these investments caused primarily by changes in prevailing interest rates since they were purchased. There were approximately $5,000 and $3,000 of realized gains for the three months ended March 31, 2015 and 2014, respectively. The Company recognizes gains and losses when these securities have other than temporary impairment, mature or are sold using the specific identification method.

At March 31, 2015 and December 31, 2014, maturity dates for fixed maturities and short-term investments (excluding the money market funds) were:

	Available-for-Sale
	Amortized		Fair		% of
March 31, 2015	Cost		Value		Total Value
Maturity dates occurring:
Less than 1 year (Four certificates of deposit)	$	700,000	$	703,330		8.4	%
Greater than 1 year (Two certificates of deposit and 108 corporate bonds)		7,476,506		7,708,917		91.6	%
Total	$	8,176,506	$	8,412,247		100.0	%

	Available-for-Sale
	Amortized		Fair		% of
December 31, 2014	Cost		Value		Total Value
Maturity dates occurring:
Less than 1 year (Three certificates of deposit)	$	700,000	$	704,676		8.5	%
Greater than 1 year (Two certificates of deposit and 107 corporate bonds)		7,397,358		7,547,366		91.5	%
Total	$	8,097,358	$	8,252,042		100.0	%

Investments classified at March 31, 2015 and December 31, 2014 as fixed maturities and short-term investments were as follows:

	Available-for-Sale
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
March 31, 2015	Cost		Gain		Loss			Value
Certificates of deposit, short term	$	700,000	$	3,330				$	703,330
Certificates of deposit, fixed maturities		350,000		2,069					352,069
Corporate bonds, fixed maturities		7,126,506		263,094	$	(32,752	)		7,356,848
Total investments	$	8,176,506	$	268,493	$	(32,752	)	$	8,412,247

	Available-for-Sale
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2014	Cost		Gain		Loss			Value
Certificates of deposit, short term	$	700,000	$	4,676				$	704,676
Certificates of deposit, fixed maturities		350,000		926					350,926
Corporate bonds, fixed maturities		7,047,358		184,630		(35,548	)		7,196,440
Total investments	$	8,097,358	$	190,232	$	(35,548	)	$	8,252,042

Unrealized losses on investments at March 31, 2015 and December 31, 2014 were generally due to higher current market yields relative to the yields of the investments at their amortized cost. Unrealized losses due to credit risk associated with the underlying collateral of the investments, if any, are not material. All investments with unrealized losses are reviewed quarterly to determine if any impairment is other than temporary, requiring a charge to earnings. The Company considers the severity of the loss on a security, duration of loss, duration of the investment, credit rating of the security, as well as payment performance and the Company’s intent or requirement to sell the investment before recovery when determining whether any impairment is other than temporary. The Company had no investments in a material unrealized loss position for greater than one year as of March 31, 2015 and December 31, 2014.