Income Taxes (Tables)

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Summary of income tax expense (benefit)

Actual income tax expense for the three and nine months ended September 30, 2017 and 2016 varies from the amount that would result by applying the applicable statutory federal income tax rate of 34% to income before income taxes as summarized in the following table:

	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Income tax benefit at statutory income tax rate	$	(1,168	)	$	(902	)	$	(508	)	$	(743	)
State income tax (net of federal tax benefit)		(5	)		54			104			131
Other		2			1			7			7
Income tax benefit	$	(1,171	)	$	(847	)	$	(397	)	$	(605	)

Schedule of deferred income taxes

The Company carries a net deferred income tax asset of $855 and $420 as of September 30, 2017 and December 31, 2016, respectively, all of which the Company believes is more likely than not to be fully realized based upon management’s assessment of future taxable income. Significant components of the Company’s net deferred tax assets are as follows:

	September 30, 2017		December 31, 2016
Deferred income tax assets:
Loss and loss adjustment expense reserves	$	49	$	35
Unearned premium reserves		2,055		1,503
Net operating loss carryforwards		736		235
Share-based compensation		335		316
Other		308		270
Deferred income tax assets	$	3,483	$	2,359
Deferred income tax liabilities:
Deferred policy acquisition costs	$	2,105	$	1,492
State deferred taxes		444		397
Other		79		50
Deferred income tax liabilities	$	2,628	$	1,939
Net deferred income tax assets	$	855	$	420