Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Summary of Significant Accounting Policies [Abstract]

Summary of Property, Plant and Equipment

	As of
	June 30,		December 31,
	2020		2019
Automobiles	$	530,722	$	505,788
Furniture and fixtures		469,659		457,218
Computer equipment and software		3,875,559		3,823,416
Home office		3,871,179		3,866,632
Total cost		8,747,120		8,653,054
Accumulated depreciation		(5,818,924)		(5,619,706)
Net property and equipment	$	2,928,196	$	3,033,348

Accumulated Other Comprehensive Earnings (Loss)

		Six-Month Periods Ended June 30,
				2020			2019
Beginning balance	$		2,953,936		$	(1,580,976)
Cumulative effect of adoption of ASU 2016-01			-			1,366,297
Adjusted beginning balance			2,953,936			(214,679)
Other comprehensive earnings before reclassification			2,086,077			2,837,836
Amount reclassified from accumulated other comprehensive earnings			(272,194)			(117,823)
Net current period other comprehensive earnings			1,813,883			2,720,013
Ending balance	$		4,767,819		$	2,505,334

Summary of Components of Other Comprehensive Earnings

	Three-Month Periods Ended June 30,
	2020						2019
	Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax
Other comprehensive earnings, net of tax
Unrealized gains and losses on investments:
Unrealized holding gains arising during the period	$	4,456,968	$	(843,931)	$	3,613,037	$	1,576,968	$	(224,377)	$	1,352,591
Reclassification adjustment for losses included in net earnings		(111,782)		23,474		(88,308)		(135,173)		28,386		(106,787)
Total other comprehensive earnings	$	4,345,186	$	(820,457)	$	3,524,729	$	1,441,795	$	(195,991)	$	1,245,804

	Six-Month Periods Ended June 30,
	2020						2019
	Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax
Other comprehensive (loss) earnings,   net of tax
Unrealized gains and losses on AFS investments:
Unrealized holding gains arising during the period	$	2,285,654	$	(199,577)	$	2,086,077	$	3,443,053	$	(605,217)	$	2,837,836
Reclassification adjustment for (gains) included in net earnings		(344,549)		72,355		(272,194)		(149,143)		31,320		(117,823)
Total other comprehensive earnings	$	1,941,105	$	(127,222)	$	1,813,883	$	3,293,910	$	(573,897)	$	2,720,013

Schedule of Reclassifications Out of Accumulated Other Comprehensive Earnings

Amounts Reclassified from
Accumulated Other Comprehensive Earnings
	Three-Month Periods Ended				Six-Month Period Ended
Details about Accumulated Other	June 30,				June 30,				Affected Line Item in the Statement
Comprehensive Earnings Component	2020		2019		2020		2019		where Net Earnings is Presented
Unrealized (gains) losses on AFS investments:
	$	(111,782)	$	(135,173)	$	(344,549)	$	(149,143)	Net realized investment (gains)
		23,474		28,386		72,355		31,320	Income tax expense (benefit)
Total reclassification adjustment, net of tax	$	(88,308)	$	(106,787)	$	(272,194)	$	(117,823)