Note 11 -Commitment and Contingencies

12 Months Ended

Dec. 31, 2011

Commitment and Contingencies

Commitments and Contingencies Disclosure [Text Block]

11.  Commitments and Contingencies

Fixed maturities with a carrying value of $4,706,000 are on deposit with various state insurance departments at December 31, 2011.

The Company has operating leases for office space and certain other office equipment.  These operating leases provide for minimum rents and generally include options to renew for additional periods.

Future minimum lease payments under non-cancelable operating leases as of December 31, 2011, are as follows (in thousands):

	Year Ending		Net Operating
	December 31,		Leases
	2012	$	105
	2013		100
	2014		65
	2015		60
	2016		31
	2017 and thereafter		-
Total		$	361

The Company's net rent expense for years 2011, 2010, and 2009 were $222,000, $355,000, and $482,000, respectively.

Legal Proceedings

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