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Statutory
12 Months Ended
Dec. 31, 2013
Statutory [Abstract]  
Statutory
 
Note Q - Statutory

Net income (loss) of the insurance subsidiaries, all of which are wholly owned, as determined in accordance with statutory accounting practices, was $30,886, $29,262 and ($19,120) for 2013, 2012 and 2011, respectively.  Consolidated statutory capital and surplus for these subsidiaries was $377,209 and $338,857 at December 31, 2013 and 2012, respectively, of which $60,628 may be transferred by dividend or loan to the parent company during calendar year 2014 with proper notification to, but without approval from, regulatory authorities.  An additional $223,086 of shareholders’ equity of such insurance subsidiaries could, under existing regulations, be advanced or loaned to the parent company with prior notification to and approval from regulatory authorities, although it is unlikely that transfers of this size would be practical.
 
State regulatory authorities prescribe calculations of the minimum amount of statutory capital and surplus necessary for each insurance company to remain authorized.  These computations are referred to as Risk Based Capital (“RBC”)requirements and are based on a number of complex factors taking into consideration the quality and nature of assets, the historical adequacy of recorded liabilities and the specific nature of business conducted.    At December 31, 2013 the minimum statutory capital and surplus requirements of the insurance subsidiaries was $92,111.  Actual consolidated statutory capital and surplus at December 31, 2013 exceeded this requirement by $283,714, which equals to  410% of minimum RBC.