FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value

The following tables provide information about our financial assets measured and reported at fair value as of September 30, 2024 and December 31, 2023:

	September 30, 2024
	Level 1		Level 2		Level 3		Total Fair Value
	(dollars in millions)
Assets
Fixed maturities:
U.S. Treasury securities and agencies	$	33.6	$	0.7	$	—	$	34.3
Municipal securities	—		23.3		—		23.3
Corporate debt securities	—		105.0		—		105.0
Residential mortgage-backed securities	—		20.9		—		20.9
Commercial mortgage-backed securities	—		52.3		—		52.3
Other debt obligations	—		30.4		—		30.4
Total fixed maturities	33.6		232.6		—		266.2
Short-term investments	8.4		0.2		—		8.6
Cash equivalents	416.6		—		—		416.6
Total assets at fair value	$	458.6	$	232.8	$	—	$	691.4
	December 31, 2023
	Level 1		Level 2		Level 3		Total Fair Value
	(dollars in millions)
Assets
Fixed maturities:
U.S. Treasury securities and agencies	$	13.3	$	1.3	$	—	$	14.6
Municipal securities	—		24.1		—		24.1
Corporate debt securities	—		65.2		—		65.2
Residential mortgage-backed securities	—		11.9		—		11.9
Commercial mortgage-backed securities	—		29.8		—		29.8
Other debt obligations	—		20.3		—		20.3
Total fixed maturities	13.3		152.6		—		165.9
Short-term investments	0.9		—		—		0.9
Cash equivalents	439.6		—		—		439.6
Total assets at fair value	$	453.8	$	152.6	$	—	$	606.4

Schedule of Carrying Amounts and Fair Values of Financial Instruments

As of September 30, 2024 and December 31, 2023, the carrying amounts and fair values of these financial instruments were as follows:

	Carrying Amount as of September 30, 2024		Estimated Fair Value as of September 30, 2024		Carrying Amount as of December 31, 2023		Estimated Fair Value as of December 31, 2023
	(dollars in millions)
Long-term debt	$	300.9	$	307.9	$	299.0	$	305.2