5. Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Of Financial Instruments Tables

Schedule of Fair Value of Financial Instruments

The estimated fair values of the Company’s financial instruments are as follows:

	December 31, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Fixed-maturity investments held to maturity	$	2,399,482	$	2,425,261	$	606,281	$	779,026
Cash and cash equivalents		19,922,506		19,922,506		2,240,012		2,240,012
Premiums receivable		7,590,074		7,590,074		7,766,825		7,766,825
Receivables- reinsurance contracts		974,989		974,989		-		-
Reinsurance receivables		38,535,814		38,535,814		38,902,782		38,902,782
Real estate, net of accumulated depreciation		1,777,942		1,816,122		1,696,924		1,720,000
Reinsurance balances payable		2,566,729		2,566,729		1,820,527		1,820,527
Advance payments from catastrophe reinsurers		-		-		7,358,391		7,358,391
Notes payable (including related parties)		-		-		1,197,000		1,197,000