The Company presents its expenses in four major captions: loss and loss adjustment expenses, policy acquisition costs, general and administrative expenses and interest expense. The Company has presented the disaggregation of its general and administrative expenses below for the three and nine months ended September 30, 2026 and 2025.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
General and Administrative Expenses
Employee compensation(1)	$	5,011	$	4,821	$	15,326	$	9,579
Association fees		900		920		2,968		2,937
Professional services		589		1,066		2,355		2,725
Software & equipment costs		868		735		2,431		2,567
Intangible asset amortization		610		609		1,830		1,828
Liability insurance		385		412		1,148		1,158
Audit fees		9		446		640		1,108
Depreciation and amortization		158		1,020		550		3,213
Operating lease expense		106		107		320		332
Legal fees		85		147		225		523
Other general and administrative(2)		797		1,038		2,694		2,635
Total general and administrative expenses	$	9,518	$	11,321	$	30,487	$	28,605

(1) For the nine months ended September 30, 2025, employee compensation includes $4.5 million in one-time employee retention tax credit refunds.

(2) For the three and nine months ended September 30, 2026 and 2025, other general and administrative expenses were comprised primarily of regulatory fees, director fees, contributions and franchise fees. This also includes the change in our provision for expected credit losses, which were presented on a separate line in the prior year but were reclassified within Other general and administrative for the current period presentation given the dollar amount. For the three and nine months ended September 30, 2025 this provision reversal was $(5,000) and $(62,000), respectively.