Note 2 - Statutory Reporting and Requirements	12 Months Ended
Dec. 31, 2023
Notes to Financial Statements
Statutory Accounting Practices [Text Block]	2. Statutory Reporting and Requirements NCTIC's assets, liabilities, and results of operations have been reported in accordance with GAAP, which varies from statutory accounting practices (“SAP”) prescribed or permitted by insurance regulatory authorities. Prescribed SAP are found in a variety of publications of the National Association of Insurance Commissioners (“NAIC”), state laws and regulations, as well as through general practices. The principal differences between SAP and GAAP are that under SAP: (1) certain assets that are not admitted assets are eliminated from the balance sheet, (2) a supplemental reserve for claims is charged directly to unassigned surplus rather than provision for claims under GAAP, and (3) differences may arise in the computation of deferred income taxes. The Company must file with applicable state insurance regulatory authorities an “Annual Statement” which reports, among other items, net income (loss) and stockholders' equity (called “surplus as regards policyholders” in statutory reporting). NCTIC is subject to regulations and standards of the Florida Office of Insurance Regulation (“FLOIR”). These standards and regulations include a requirement that the insurance entities domiciled in the State of Florida maintain specified levels of statutory capital and restrict the timing and amount of dividends and other distributions that may be paid by the insurance entities to the parent company. Capital and surplus on a statutory basis was $6.4 million as of December 31, 2023, compared to $5.7 million as of December 31, 2022 and exceeded the minimum of $3.0 million required by the State of Florida for title insurance companies. The maximum amount of dividends which can be paid by State of Florida insurance companies to shareholders without prior approval of the Insurance Commissioner is subject to restrictions relating to statutory surplus. Cash dividends may only be paid out of accumulated surplus funds derived from net operating profits and realized capital gains not exceeding 10% of such surplus in any one year, although there are no restrictions on cash dividend payments out of profits and gains derived during the immediately preceding year. During the years ended December 31, 2023 and 2022, no dividends were paid from NCTIC to the Company. Net income on a statutory basis was $701,000 for the year ended December 31, 2023, compared to $361,000 for the year ended December 31, 2022. As of December 31, 2023, approximately all of consolidated stockholders’ equity represents net assets of NCTIC that cannot be transferred in the form of dividends, loans or advances to the parent company under statutory regulations without prior insurance department approval. As of December 31, 2022, the maximum distributions the insurance subsidiaries could make to the Company without prior approval from applicable regulators totaled approximately $50,000 plus any earnings and capital gains derived in 2023.

Note 2 - Statutory Reporting and Requirements

12 Months Ended

Dec. 31, 2023

Statutory Accounting Practices [Text Block]

2. Statutory Reporting and Requirements

NCTIC's assets, liabilities, and results of operations have been reported in accordance with GAAP, which varies from statutory accounting practices (“SAP”) prescribed or permitted by insurance regulatory authorities. Prescribed SAP are found in a variety of publications of the National Association of Insurance Commissioners (“NAIC”), state laws and regulations, as well as through general practices. The principal differences between SAP and GAAP are that under SAP: (1) certain assets that are not admitted assets are eliminated from the balance sheet, (2) a supplemental reserve for claims is charged directly to unassigned surplus rather than provision for claims under GAAP, and (3) differences may arise in the computation of deferred income taxes. The Company must file with applicable state insurance regulatory authorities an “Annual Statement” which reports, among other items, net income (loss) and stockholders' equity (called “surplus as regards policyholders” in statutory reporting).

NCTIC is subject to regulations and standards of the Florida Office of Insurance Regulation (“FLOIR”). These standards and regulations include a requirement that the insurance entities domiciled in the State of Florida maintain specified levels of statutory capital and restrict the timing and amount of dividends and other distributions that may be paid by the insurance entities to the parent company.

Capital and surplus on a statutory basis was $6.4 million as of December 31, 2023, compared to $5.7 million as of December 31, 2022 and exceeded the minimum of $3.0 million required by the State of Florida for title insurance companies. The maximum amount of dividends which can be paid by State of Florida insurance companies to shareholders without prior approval of the Insurance Commissioner is subject to restrictions relating to statutory surplus. Cash dividends may only be paid out of accumulated surplus funds derived from net operating profits and realized capital gains not exceeding 10% of such surplus in any one year, although there are no restrictions on cash dividend payments out of profits and gains derived during the immediately preceding year. During the years ended December 31, 2023 and 2022, no dividends were paid from NCTIC to the Company.

Net income on a statutory basis was $701,000 for the year ended December 31, 2023, compared to $361,000 for the year ended December 31, 2022. As of December 31, 2023, approximately all of consolidated stockholders’ equity represents net assets of NCTIC that cannot be transferred in the form of dividends, loans or advances to the parent company under statutory regulations without prior insurance department approval. As of December 31, 2022, the maximum distributions the insurance subsidiaries could make to the Company without prior approval from applicable regulators totaled approximately $50,000 plus any earnings and capital gains derived in 2023.