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Note 6 - Unpaid Losses and Settlement Expenses - Schedule of Liability for Unpaid Claims and Claim Adjustment Expense (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Gross $ 77,651,000 $ 72,867,000 $ 71,919,585 $ 67,614,000
Less: Ceded 13,739,000 14,460,000 12,736,579 13,610,000
Less: CECL allowance for reinsurance recoverable on unpaid losses 88,000 0 82,000 0
Net 63,824,000 58,407,000 59,101,000 54,004,000
Current year, incurred 11,867,000 10,929,000 24,155,000 22,001,000
Prior years, incurred 2,686,000 1,285,000 2,735,000 1,261,000
Total incurred 14,553,000 12,214,000 26,890,000 23,262,000
Current year, paid 3,047,000 3,558,000 4,971,000 4,716,000
Prior years, paid 8,519,000 5,082,000 14,209,000 10,569,000
Total paid 11,566,000 8,640,000 19,180,000 15,285,000
Net unpaid losses and settlement expense - end of the period 66,811,000 61,981,000 66,811,000 61,981,000
Plus: Reinsurance recoverable on unpaid losses net of CECL 12,374,256 14,502,000 12,374,256 14,502,000
Plus: CECL allowance for reinsurance recoverable on unpaid losses1 79,000 101,000 79,000 101,000
Unpaid losses and settlement expenses $ 79,263,873 $ 76,584,000 $ 79,263,873 $ 76,584,000