Note 19 Commitments and Concentration of Credit Risk

12 Months Ended

Dec. 31, 2011

Commitment and Contingencies

Commitments and Contingencies Disclosure [Text Block]

Note 19.          Commitments and Concentration of Credit Risk

            Certain subsidiaries of the Company are obligated under non-cancelable operating lease agreements for office space. Total rental expense for the years 2011, 2010 and 2009 for operating leases was $4,016,000, $4,942,000 and $4,137,000, respectively.

The approximate minimum annual rental payments under operating leases that have remaining non-cancelable lease terms in excess of one year at December 31, 2011 are as follows (in thousands):

2012		$	3,237
2013			2,620
2014			2,370
2015			2,313
2016			2,037
2017 and thereafter			1,254
	Total	$	13,831

At December 31, 2011, the Company had no investment securities of any one issuer or in any one industry which exceeded 10% of stockholders' equity, except for investments in obligations of the U.S. Government and its agencies and mortgage-backed securities issued by GSEs, as summarized in Note 4.

Fixed maturities with a carrying value of $11,406,000 and $11,771,000 were on deposit with various state insurance departments at December 31, 2011 and 2010, respectively.

At December 31, 2011, the Company had net receivables of $45,348,000 and $29,502,000 from two different reinsurers which are both rated A by A.M. Best.  These are the only reinsurers with a net receivable that individually exceed 10% of the stockholders' equity of the Company. The Company believes that these receivables are fully collectible.      

We are involved in legal proceedings and claims that arise in the ordinary course of our businesses. We have established reserves that we believe are sufficient given information presently available relating to our outstanding legal proceedings and claims.  We do not anticipate that the result of any pending legal proceeding or claim will have a material adverse effect on our financial condition or cash flows, although there could be such an effect on our results of operations for any particular period.