Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2012

Accounting Policies [Abstract]

Fair Value of Financial Instruments, Policy

Fair value assumptions

The carrying amounts for the following financial instrument categories approximate their fair values at June 30, 2012, and December 31, 2011, because of their short-term nature: cash and cash equivalents, accrued investment income, premiums receivable, reinsurance recoverable, reinsurance payable, accounts payable and accrued expenses. The carrying amount of notes payable approximates fair value as the interest rate is variable. The note receivable, which we originally recorded at fair value, using a discounted cash flow methodology, was due in approximately two years.

Consolidation, Policy

We include all of our subsidiaries in our consolidated financial statements, eliminating all significant intercompany balances and transactions during consolidation.