The table indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of March 31, 2014 and December 31, 2013:


	Fair Value Measurements Using
	(Level 1)		(Level 2)		(Level 3)		Total
*As of March 31, 2014*
Financial Assets:
Cash and cash equivalents	$	296,576	$	—	$	—	$	296,576

Fixed-maturity securities:
U.S. Treasury and U.S. government agencies		3,611		842		—		4,453
Corporate bonds		29,837		935		—		30,772
Commercial mortgage-backed securities		—		11,278		—		11,278
State, municipalities, and political subdivisions		—		83,045		—		83,045
Redeemable preferred stock		3,565		—		—		3,565

Total fixed-maturity securities		37,013		96,100		—		133,113
Equity securities		22,872		—		—		22,872

Total available-for-sale securities		59,885		96,100		—		155,985

Total	$	356,461	$	96,100	$	—	$	452,561

Financial Liabilities:
Long-term debt:
8% Senior notes	$	—	$	43,438	$	—	$	43,438
3.875% Convertible senior notes		—		—		87,238		87,238

Total long-term debt	$	—	$	43,438	$	87,238	$	130,676


	Fair Value Measurements Using
	(Level 1)		(Level 2)		(Level 3)		Total
*As of December 31, 2013*
Financial Assets:
Cash and cash equivalents	$	293,398	$	—	$	—	$	293,398

Fixed-maturity securities:
U.S. Treasury and U.S. government agencies		3,520		1,044		—		4,564
Corporate bonds		24,476		928		—		25,404
Commercial mortgage-backed securities		—		11,332		—		11,332
State, municipalities, and political subdivisions		—		70,451		—		70,451
Redeemable preferred stock		400		—		—		400

Total fixed-maturity securities		28,396		83,755		—		112,151
Equity securities		17,649		—		—		17,649

Total available-for-sale securities		46,045		83,755		—		129,800

Total	$	339,443	$	83,755	$	—	$	423,198

Financial Liabilities:
Long-term debt:
8% Senior notes	$	—	$	43,390	$	—	$	43,390
3.875% Convertible senior notes		—		—		86,630		86,630

Total long-term debt	$	—	$	43,390	$	86,630	$	130,020