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Related Party Transactions
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions
RELATED PARTY TRANSACTIONS
 
AmRisc, LLC

AmRisc, a managing general agent, handles the underwriting, claims processing, premium collection and reinsurance review for AmCo. Effective January 1, 2019, R. Daniel Peed, Vice Chairman of our Board of Directors, became Non-Executive Vice Chairman of AmRisc. Effective December 31, 2019, Mr. Peed resigned from this position, terminating the related party relationship.
In accordance with the managing general agency contract with AmRisc, we recorded $107,619,000 of gross written premiums for the three-month period ended March 31, 2019, resulting in gross fees and commission (including a profit commission) of $28,979,000 for the three-month period ended March 31, 2019, due to AmRisc. Receivables are stated net of the fees and commission due under the contract.
In addition to the direct premiums written, we recorded $1,545,000 in ceded premiums to AmRisc as a reinsurance intermediary for the three-month period ended March 31, 2019.