Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value

The following tables present the Company’s assets and liabilities measured at fair value, classified by the valuation hierarchy as of June 30, 2024 and December 31, 2023 (dollars in thousands):

	June 30, 2024
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Debt Securities:
U.S. Government	$	5,693	$	—	$	5,693	$	—
State and local government		20,126		—		20,126		—
Corporate debt		30,106		—		30,106		—
Asset-backed securities		37,002		—		37,002		—
Mortgage-backed securities		20,628		—		20,628		—
Commercial mortgage-backed securities		3,196		—		3,196		—
Collateralized mortgage obligations		2,620		—		2,620		—
Total debt securities		119,371		—		119,371		—
Equity Securities		357		137		220		—
Short-term investments		23,339		23,339		—		—
Total marketable investments measured at fair value	$	143,067	$	23,476	$	119,591	$	—
Investments measured at NAV:
Investment in limited partnership		1,303
Total assets measured at fair value	$	144,370
Liabilities:
Senior unsecured notes *	$	17,887	$	—	$	17,887	$	—
Senior secured notes *		9,310		—		—		9,310
Total Liabilities (non-recurring fair value measure)	$	27,197	$	—	$	17,887	$	9,310

* Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets

	December 31, 2023
	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Debt Securities:
U.S. Government	$	5,247	$	—	$	5,247	$	—
State and local government		20,464		—		20,464		—
Corporate debt		30,495		—		30,495		—
Asset-backed securities		37,752		—		37,752		—
Mortgage-backed securities		22,127		—		22,127		—
Commercial mortgage-backed securities		3,244		—		3,244		—
Collateralized mortgage obligations		2,784		—		2,784		—
Total debt securities		122,113		—		122,113		—
Equity securities		896		139		757		—
Short-term investments		20,838		20,838		—		—
Total marketable investments measured at fair value	$	143,847	$	20,977	$	122,870	$	—
Investments measured at NAV:
Investment in limited partnership		1,458
Total assets measured at fair value	$	145,305
Liabilities:
Senior unsecured notes *	$	11,791	$	—	$	11,791	$	—
Subordinated notes *		9,965		—		—		9,965
Total Liabilities (non-recurring fair value measure)	$	21,756	$	—	$	11,791	$	9,965

* Carried at face value of debt net of unamortized debt issuance costs on the consolidated balance sheets