Document and Entity Information
Document and Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 05, 2021 | Jun. 30, 2020 | |
Details | |||
Registrant CIK | 0000701869 | ||
Fiscal Year End | --12-31 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-32244 | ||
Entity Registrant Name | INDEPENDENCE HOLDING COMPANY | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 58-1407235 | ||
Entity Address, Address Line One | 96 CUMMINGS POINT ROAD | ||
Entity Address, City or Town | STAMFORD | ||
Entity Address, State or Province | CT | ||
Entity Address, Postal Zip Code | 06902 | ||
City Area Code | 203 | ||
Local Phone Number | 358-8000 | ||
Title of 12(b) Security | Common Stock, $1.00 par value | ||
Trading Symbol | IHC | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 146,514 | ||
Entity Common Stock, Shares Outstanding | 14,639,449 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Investments | ||
Short-term Investments | $ 2,634 | $ 50 |
Securities Purchased under Agreements to Resell | 49,990 | 107,157 |
Debt Securities, Available-for-sale | 406,649 | 384,974 |
Equity Securities, FV-NI | 6,119 | 3,747 |
Other Investments | 8,238 | 15,208 |
Investments | 473,630 | 511,136 |
Cash and Cash Equivalents, at Carrying Value | 72,089 | 21,094 |
Premiums Receivable, Net | 29,182 | 26,244 |
Reinsurance Recoverables, Including Reinsurance Premium Paid | 357,205 | 362,969 |
Goodwill | 74,900 | 60,165 |
Other Assets | 76,150 | 72,695 |
Assets, Total | 1,083,156 | 1,054,303 |
Liabilities | ||
Liability for Claims and Claims Adjustment Expense | 179,232 | 164,802 |
Liability for Future Policy Benefit, before Reinsurance | 198,086 | 201,205 |
Deposit Contracts, Liabilities | 141,376 | 140,951 |
Unearned Premiums | 12,789 | 7,282 |
Policyholder Account Balance | 12,001 | 12,049 |
Reinsurance Payable | 3,872 | 5,016 |
Other Liabilities | 63,682 | 61,049 |
Liabilities | 611,038 | 592,354 |
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 2,312 | 2,237 |
TOTAL LIABILITIES AND EQUITY | 1,083,156 | 1,054,303 |
STOCKHOLDERS' EQUITY: | ||
Preferred Stock, Value, Issued | 0 | 0 |
Common Stock, Value, Issued | 18,625 | 18,625 |
Additional Paid in Capital, Common Stock | 124,757 | 122,717 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 4,197 | 1,212 |
Treasury stock, at cost; 3,982,411 and 3,760,517 shares | 77,088 | 69,724 |
Retained Earnings (Accumulated Deficit) | 399,273 | 386,864 |
TOTAL IHC STOCKHOLDERS' EQUITY | 469,764 | 459,694 |
Stockholders' Equity Attributable to Noncontrolling Interest | 42 | 18 |
TOTAL EQUITY | $ 469,806 | $ 459,712 |
Consolidated Balance Sheets - P
Consolidated Balance Sheets - Parenthetical - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Preferred Stock, Shares Authorized | 100,000 | 100,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 23,000,000 | 23,000,000 |
Common Stock, Shares, Issued | 18,625,458 | 18,625,458 |
Common Stock, Shares, Outstanding | 14,643,047 | 14,864,941 |
Treasury Stock, Shares | 3,982,411 | 3,760,517 |
Consolidated Income Statement
Consolidated Income Statement - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | ||
Premiums Earned, Net | $ 397,530 | $ 338,741 |
Net Investment Income | 11,777 | 15,643 |
Insurance Commissions and Fees | 24,137 | 14,003 |
Other Income | 9,074 | 2,002 |
Gain (Loss) on Investments | 1,346 | 4,705 |
Revenues | 443,864 | 374,448 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale | ||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale | 0 | 646 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Portion in Other Comprehensive Loss, before Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 0 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Recognized in Earnings | 0 | 646 |
Operating Expenses | ||
Policyholder Benefits and Claims Incurred, Net | 208,217 | 174,121 |
Selling, General and Administrative Expense | 205,797 | 174,979 |
Benefits, Losses and Expenses | 414,014 | 349,100 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 29,850 | 25,348 |
Income Tax Expense (Benefit) | 10,732 | 12,659 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 19,118 | 12,689 |
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest | 28 | 119 |
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | 209 | 174 |
Net Income (Loss) Attributable to Parent | $ 18,881 | $ 12,396 |
Earnings Per Share, Basic | $ 1.28 | $ 0.83 |
Weighted Average Number of Shares Outstanding, Basic | 14,733 | 14,903 |
Earnings Per Share, Diluted | $ 1.28 | $ 0.83 |
Weighted Average Number of Shares Outstanding, Diluted | 14,791 | 14,976 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 19,118 | $ 12,689 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | ||
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, before Tax | 3,793 | 12,070 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, Tax | 808 | 2,548 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | 2,985 | 9,522 |
Other Comprehensive Income (Loss), Net of Tax | 2,985 | 9,522 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 22,103 | 22,211 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 237 | 293 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 0 | 0 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 237 | 293 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 21,866 | $ 21,918 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands | Total | COMMON STOCK, AMOUNT | Additional Paid-in Capital | AOCI Attributable to Parent | Treasury Stock | Retained Earnings | Parent | Noncontrolling Interest |
Treasury Stock, Shares | (3,747,210) | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2018 | $ 451,431 | $ 18,625 | $ 124,395 | $ (8,310) | $ (66,392) | $ 380,431 | $ 448,749 | $ 2,682 |
Common Stock, Shares, Issued at Dec. 31, 2018 | 18,625,458 | |||||||
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | 12,515 | 12,396 | 12,396 | 119 | ||||
Other Comprehensive Income (Loss), Net of Tax | 9,522 | 9,522 | 9,522 | 0 | ||||
Treasury Stock, Value, Acquired, Cost Method | $ (4,051) | $ (4,051) | (4,051) | 0 | ||||
Treasury Stock, Shares, Acquired | (108,646) | (108,646) | ||||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | $ (3,413) | (1,033) | (1,033) | (2,380) | ||||
Dividends, Common Stock, Cash | (5,963) | (5,963) | (5,963) | 0 | ||||
Sharebased Compensation Effect On Stockholders Equity | 105 | (614) | $ 719 | 105 | 0 | |||
Sharebased Compensation Effect On Stockholders Equity, Shares Issued | 95,339 | |||||||
Distributions to noncontrolling interests | (403) | 0 | (403) | |||||
Other | (31) | (31) | (31) | 0 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2019 | $ 459,712 | $ 18,625 | 122,717 | 1,212 | $ (69,724) | 386,864 | 459,694 | 18 |
Common Stock, Shares, Issued at Dec. 31, 2019 | 18,625,458 | 18,625,458 | ||||||
Treasury Stock, Shares | (3,760,517) | (3,760,517) | ||||||
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest | $ 18,909 | 18,881 | 18,881 | 28 | ||||
Other Comprehensive Income (Loss), Net of Tax | 2,985 | 2,985 | 2,985 | 0 | ||||
Treasury Stock, Value, Acquired, Cost Method | $ (7,534) | $ (7,534) | (7,534) | 0 | ||||
Treasury Stock, Shares, Acquired | (244,487) | (244,487) | ||||||
Dividends, Common Stock, Cash | $ (6,472) | (6,472) | (6,472) | 0 | ||||
Sharebased Compensation Effect On Stockholders Equity | 2,210 | 2,040 | $ 170 | 2,210 | 0 | |||
Sharebased Compensation Effect On Stockholders Equity, Shares Issued | 22,593 | |||||||
Distributions to noncontrolling interests | (4) | 0 | (4) | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2020 | $ 469,806 | $ 18,625 | $ 124,757 | $ 4,197 | $ (77,088) | $ 399,273 | $ 469,764 | $ 42 |
Common Stock, Shares, Issued at Dec. 31, 2020 | 18,625,458 | 18,625,458 | ||||||
Treasury Stock, Shares | (3,982,411) | (3,982,411) |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity - Parenthetical - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Common Stock, Dividends, Per Share, Declared | $ 0.44 | $ 0.40 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS PROVIDED BY (USED BY) OPERATING ACTIVITIES: | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 19,118 | $ 12,689 |
Net Cash Provided by (Used in) Operating Activities | 51,422 | 39,174 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | 50,162 | (6,176) |
Adjustments to reconcile net income to net change in cash from | ||
Deferred Policy Acquisition Costs, Amortization Expense | 1,160 | 1,036 |
Investment Income, Net, Amortization of Discount and Premium | (4,840) | (3,631) |
Gain (Loss) on Investments | 1,346 | 4,705 |
Gain (Loss) on Disposition of Other Assets | 0 | 3,589 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Recognized in Earnings | 0 | 646 |
Impairment losses on equity method and other investments | 0 | 3,562 |
Provision for Loan and Lease Losses | 0 | 4,185 |
Depreciation, Depletion and Amortization, Nonproduction | 4,621 | 3,198 |
Deferred Income Tax Expense (Benefit) | 3,938 | 7,432 |
Other Noncash Income (Expense) | (4,468) | (3,326) |
Increase (Decrease) in Operating Capital | ||
Increase (Decrease) in Insurance Liabilities | 16,631 | 2,111 |
Increase (Decrease) in Premiums Receivable | 2,938 | 1,832 |
Increase (Decrease) in Contract with Customer, Asset | 7,847 | 0 |
Increase (Decrease) in Reinsurance Recoverable | (5,764) | (5,762) |
Change in Claim Fund Balances | 1,085 | 1,393 |
Increase (Decrease) in Income Taxes Payable, Net of Income Taxes Receivable | 4,092 | 2,285 |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | 2,164 | 1,956 |
Net Cash Provided by (Used in) Investing Activities | ||
Payments for (Proceeds from) Short-term Investments | 2,570 | (1,000) |
Proceeds from (Payments for) Securities Purchased under Agreements to Resell | 57,167 | (95,094) |
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment | 0 | 2,018 |
Payments to Acquire Trading Securities Held-for-investment | 1,786 | 0 |
Proceeds from Sale of Debt Securities, Available-for-sale | 39,388 | 161,239 |
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | 133,721 | 86,460 |
Payments to Acquire Debt Securities, Available-for-sale | 194,314 | 168,540 |
Payments to Acquire Businesses, Net of Cash Acquired | 13,707 | 7,952 |
Proceeds from Sale, Maturity and Collection of Investments | 87 | 5,223 |
Payments to Acquire Other Investments | 1,250 | 8,000 |
Other investing activities | 3,620 | 3,491 |
Net Cash Provided by (Used in) Investing Activities | 13,116 | (27,137) |
Net Cash Provided by (Used in) Financing Activities | ||
Payments for Repurchase of Common Stock | 7,534 | 4,057 |
Net Change Annuities and Investment Certificates | (580) | (1,575) |
Payments of Ordinary Dividends, Common Stock | 6,222 | 5,231 |
Payments to Noncontrolling Interests | 0 | 4,700 |
Proceeds from Stock Options Exercised | 179 | 269 |
Payment, Tax Withholding, Share-based Payment Arrangement | 81 | 2,397 |
Proceeds from (Payments for) Other Financing Activities | (138) | (522) |
Net Cash Provided by (Used in) Financing Activities | (14,376) | (18,213) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance | 24,631 | 30,807 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance | $ 74,793 | $ 24,631 |
Organization, Consolidation, Ba
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies | Note 1. Organization, Consolidation, Basis of Presentation and Accounting Policies (A) Business and Organization Independence Holding Company, a Delaware corporation (“IHC”), is a holding company principally engaged in underwriting, administering and/or distributing group and individual specialty benefit products, including disability, supplemental health, pet, and group life insurance through: (i) its insurance companies, Standard Security Life, Madison National Life, and Independence American Insurance Company; and (ii) its marketing and administrative companies, consisting of IHCSB, IBG, My1HR, and a majority interest in PetPartners (collectively, the “IHC Agencies”) and its lead generation company, Torchlight. Standard Security Life, Madison National Life and Independence American Insurance Company are sometimes collectively referred to as the “Insurance Group”. IHC and its subsidiaries (including the Insurance Group) are sometimes collectively referred to as the "Company", or “IHC”, or are implicit in the terms “we”, “us” and “our”. Geneve Corporation, a financial holding company, and its affiliated entities, held approximately 62% of IHC's outstanding common stock at December 31, 2020. (B) Consolidation In June 2020, the Company recognized a pre-tax gain of $158,000 on the sale of a wholly owned subsidiary, Cook & Company Insurance Services, Inc., that is included in other income on the Consolidated Statement of Income. In May 2019, IHC purchased the remaining issued and outstanding units of HIO from noncontrolling interests for total consideration valued at $4,700,000, making HIO a wholly owned subsidiary. The carrying value of the noncontrolling interest on the transaction date was $2,380,000. As a result of the equity transaction, $1,033,000 was charged to paid-in capital representing the difference between the fair value of the consideration paid and the carrying amount of noncontrolling interest on the transaction date, net of a deferred tax benefit. (C) Basis of Presentation The Consolidated Financial Statements have been prepared in conformity with U.S. GAAP and include the accounts of IHC and its consolidated subsidiaries. All significant intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect: (i) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (ii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In March 2020, the World Health Organization declared the outbreak of COVID-19 a global health pandemic and the United States declared a national health emergency. COVID-19 has led to large scale disruption in the global economy, market instability and widespread unemployment in the United States. The COVID-19 outbreak is a fluid situation and as it evolves, the duration of COVID-19 and its potential effects on our business cannot be certain. Regulatory mandates have affected, and we anticipate will continue to impact, the insurance industry. We currently cannot predict if there will be a material impact to our business, results of operations or financial condition in future reporting periods. Consequently, future changes in market conditions may impact estimates used in the preparation of our financial statements associated with evaluations of goodwill and other intangible assets for impairment, estimates associated with the determination of valuation allowances related to net operating loss carryforwards, and estimates of certain losses under insurance contracts. These estimates may all be subject to substantial adjustments in future periods. In addition, volatile market conditions may result in further declines in the fair value of our investment portfolio and possible impairments of certain securities. (D) Reclassifications Certain amounts in prior year’s consolidated financial statements and Notes thereto have been reclassified to conform to the 2020 presentation. (E) Cash, Cash Equivalents and Short-Term Investments Cash equivalents are carried at cost which approximates fair value, and include principally interest-bearing deposits at brokers, money market instruments and U.S. Treasury securities with original maturities of less than 91 days. Investments with original maturities of 91 days to one year are considered short-term investments and are carried at cost, which approximates fair value. (F) Securities Purchased Under Agreements to Resell Securities purchased under agreements to resell ("resale agreements") are carried at the amounts at which the securities will be subsequently resold as specified in the agreements. Resale agreements are utilized to invest excess funds on a short-term basis. At December 31, 2020, the Company had $49,990,000 invested in resale agreements, all of which settled on January 4 , (G) Investment Securities (i) (a) (b) (ii) (iii) (iv) The Company periodically reviews and assesses the vendor’s qualifications and the design and appropriateness of its pricing methodologies. Management will on occasion challenge pricing information on certain individual securities and, through communications with the vendor, obtain information about the assumptions, inputs and methodologies used in pricing those securities, and corroborate it against documented pricing methodologies. Validation procedures are in place to determine completeness and accuracy of pricing information, including, but not limited to: (i) review of exception reports that (a) identify any zero or un-priced securities; (b) identify securities with no price change; and (c) identify securities with significant price changes; (ii) performance of trend analyses; (iii) periodic comparison of pricing to alternative pricing sources; and (iv) comparison of pricing changes to expectations based on rating changes, benchmarks or control groups. In certain circumstances, pricing is unavailable from the vendor and broker-pricing information is used to determine fair value. In these instances, management will assess the quality of the data sources, the underlying assumptions and the reasonableness of the broker quotes based on the current market information available. To determine if an exception represents an error, management will often have to exercise judgment. Procedures to resolve an exception vary depending on the significance of the security and its related class, the frequency of the exception, the risk of material misstatement, and the availability of information for the security. These procedures include, but are not limited to; (i) a price challenge process with the vendor; (ii) pricing from a different vendor; (iii) a reasonableness review; and (iv) a change in price based on better information, such as an actual market trade, among other things. Management considers all facts and relevant information obtained during the above procedures to determine the proper classification of each security in the Fair Value Hierarchy. (v) In assessing corporate debt securities for other-than-temporary impairment, the Company evaluates the ability of the issuer to meet its debt obligations and the value of the company or specific collateral securing the debt position. For mortgage-backed securities where loan level data is not available, the Company uses a cash flow model based on the collateral characteristics. Assumptions about loss severity and defaults used in the model are primarily based on actual losses experienced and defaults in the collateral pool. Prepayment speeds, both actual and estimated, are also considered. The cash flows generated by the collateral securing these securities are then determined with these default, loss severity and prepayment assumptions. These collateral cash flows are then utilized, along with consideration for the issue’s position in the overall structure, to determine the cash flows associated with the mortgage-backed security held by the Company. In addition, the Company evaluates other asset-backed securities for other-than-temporary impairment by examining similar characteristics referenced above for mortgage-backed securities. The Company evaluates U.S. Treasury securities and obligations of U.S. Government corporations, U.S. Government agencies, and obligations of states and political subdivisions for other-than-temporary impairment by examining the terms and collateral of the security. For the purpose of other-than-temporary impairment evaluations, redeemable preferred stocks are evaluated in a manner similar to debt securities. Subsequent increases and decreases, if not an other-than-temporary impairment, in the fair value of fixed maturities available-for-sale that were previously impaired, are recorded in other comprehensive income (loss). In certain circumstances, due to cash flow requirements, market conditions or changes in the condition of a specific security, the Company may deem it prudent to sell a security before the anticipated recovery of its remaining amortized cost basis. (H) Other Investments Other investments primarily include equity investments without readily determinable fair values which are carried at their cost minus impairment, if any. Impairment indicators the Company may consider in its evaluation of whether an impairment exists include, but are not limited to: (i) significant deterioration in earnings or performance of the investee; (ii) significant adverse changes in market, regulatory or economic conditions; (iii) a bona fide offer to purchase, or an offer by the investee to sell, for an amount less than the carrying amount of the investment; and (iv) factors that raise concerns about the investee’s ability to continue as a going concern. Dividends received from equity investments carried at cost are recognized in earnings. Other investments also consist of limited partnership interests carried on the equity method, which approximates the Company's equity in the underlying net assets of the partnership. Equity income or loss on partnership interests is credited or charged, as appropriate, to the Consolidated Statements of Income. Decreases in investment values are evaluated to determine if factors indicate the decrease is other than temporary. Evidence of a loss in value might include, but is not limited to, the absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Impairment losses on equity method investments are recognized in the Consolidated Statements of Income in the period when evidence indicates a decrease in the value of the investment has occurred that is other than temporary. (I) Property and Equipment Property and equipment of $7,640,000 and $7,582,000 are included in other assets at December 31, 2020 and 2019, respectively, net of accumulated depreciation and amortization of $9,084,000 and $6,689,000, respectively. Improvements are capitalized while repair and maintenance costs are charged to operations as incurred. Depreciation of property and equipment has been provided on the straight-line method over the estimated useful lives of the respective assets. Amortization of leasehold improvements has been provided on the straight-line method over the shorter of the lease term or the estimated useful life of the asset. Any impairment of long-lived assets would be charged to expense. The Company had no impairments of long-lived assets in either 2020 or 2019. (J) Goodwill and Other Intangible Assets Goodwill carrying amounts are evaluated for impairment, at least annually on December 31 each year, at the reporting unit level that is equivalent to an operating segment or one level below an operating segment, referred to as a component. If the fair value of a reporting unit is less than its carrying amount, further evaluation is required to determine if a write-down of goodwill is required. In determining the fair value of each reporting unit, we used an income approach, applying a discounted cash flow method that included a residual value. Based on historical experience, we make assumptions as to: (i) expected future performance and future economic conditions, (ii) projected operating earnings, (iii) projected new and renewal business as well as profit margins on such business, and (iv) a discount rate that incorporated an appropriate risk level for the reporting unit. Any impairment of goodwill would be charged to expense. Other intangible assets are amortized to expense over their estimated useful lives and are subject to impairment testing. Any impairment of other intangible assets would be charged to expense. (K) Insurance Liabilities Policy Benefits and Claims The Company maintains loss reserves to cover its estimated liability for unpaid losses and loss adjustment expenses, where material, including legal, other fees, and costs not associated with specific claims but related to the claims payment function), for reported and unreported claims incurred as of the end of each accounting period. These loss reserves are based on actuarial assumptions. Many factors could affect these reserves, including economic and social conditions, frequency and severity of claims, medical trend resulting from the influences of underlying cost inflation, changes in utilization and demand for medical services, and changes in doctrines of legal liability and damage awards in litigation. Therefore, the Company’s reserves are necessarily based on estimates, assumptions and analysis of historical experience. The Company’s results depend upon the variation between actual claims experience and the assumptions used in determining reserves and pricing products. Reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that will be paid for actual claims or the timing of those payments. The Company's estimate of loss represents management's best estimate of the Company's liability at the balance sheet date. All of the Company’s short-duration contracts are generated from its accident, health, disability and pet insurance business, and are accounted for based on actuarial estimates of the amount of loss inherent in that period’s claims, including losses incurred for which claims have not been reported. Short-duration contract loss estimates rely on actuarial observations of ultimate loss experience for similar historical events. Specialty Health For the Specialty Health business, IBNR claims liabilities plus expected development on reported claims are calculated using standard actuarial methods and practices. The “primary” assumption in the determination of Specialty Health reserves is that historical Claim Development Patterns are representative of future Claim Development Patterns. Factors that may affect this assumption include changes in claim payment processing times and procedures, changes in time delay in submission of claims, and the incidence of unusually large claims. Liabilities for policy benefits and claims for specialty health medical and disability coverage are computed using completion factors and expected Net Loss Ratios derived from actual historical premium and claim data. The reserving analysis includes a review of claim processing statistical measures and large claim early notifications; the potential impacts of any changes in these factors are not material. The Company has business that is serviced by third-party administrators. From time to time, there are changes in the timing of claims processing due to any number of factors including, but not limited to, system conversions and staffing changes during the year. These changes are monitored by the Company and the effects of these changes are taken into consideration during the claim reserving process. Other than these considerations, there have been no significant changes to methodologies and assumptions from the prior year. While these calculations are based on standard methodologies, they are estimates based on historical patterns. To the extent that actual claim payment patterns differ from historical patterns, such estimated reserves may be redundant or inadequate. The effects of such deviations are evaluated by considering claim backlog statistics and reviewing the reasonableness of projected claim ratios. Other factors which may affect the accuracy of policy benefits and claim estimates include the proportion of large claims which may take longer to adjudicate, changes in billing patterns by providers and changes in claim management practices such as hospital bill audits. Disability and Paid Family Leave The Company’s disability business is primarily comprised of New York short-term disability (“DBL”) and group disability. With respect to DBL, the liability for policy benefits and claims for the most recent quarter of earned premium is established using a Net Loss Ratio methodology. The Net Loss Ratio is determined by applying the pricing assumptions to the last quarter of earned premium. Policy benefits and claims associated with the premium earned prior to the last quarter are established using a completion factor methodology. The completion factors are developed using the historical payment patterns for DBL. With respect to PFL, policy benefits and claims associated with the premiums earned are established using a completion factor methodology. As this is the third year of this product, the completion factors used were based on the PFL payment patterns developed during 2018, 2019 and 2020. Since the NYSDFS established a risk adjustment program, the Company is required to record in its financial statements an accrual for a potential payment to, or recovery from, the risk adjustment program depending on how its loss ratio compares to the industry wide loss ratio. To determine the amount of this risk adjustment, knowledge of industry wide performance is necessary. The NYSDFS does not share the industry loss ratio data for the current reporting year until the following year. However, the Company uses available unaudited industry information to make its best estimate of its potential payment or refund under the risk adjustment program until actual information is available. Policy benefits and claims for the Company’s group disability products are developed using actuarial principles and assumptions that consider, among other things, future offsets and recoveries, elimination periods, interest rates, probability of rehabilitation or mortality, incidence and termination rates based on the Company’s experience. The liability for policy benefits and claims is made up of case reserves, IBNR and reopen reserves and LAE. IBNR and reopen reserves are calculated by a hind-sight study, which takes historical experience and develops the reserve as a percentage of premiums from prior years. The two “primary” assumptions on which group disability reserves are based are: (i) morbidity levels; and (ii) recovery rates. If morbidity levels increase, for example due to an epidemic or a recessionary environment, the Company would increase reserves because there would be more new claims than expected. In regard to the assumed recovery rate, if disabled lives recover more quickly than anticipated then the existing claims reserves would be reduced; if less quickly, the existing claims reserves would be increased. Advancements in medical treatments could affect future recovery, termination, and mortality rates. Due to the long-term nature of LTD, in establishing the liability for policy benefits and claims, the Company must make estimates for case reserves, IBNR, and reserves for LAE. Case reserves generally equal the actuarial present value of the liability for future benefits to be paid on claims incurred as of the balance sheet date. The IBNR reserve is established based upon historical trends of existing incurred claims that were reported after the balance sheet date. The LAE reserve is calculated based on an actuarial expense study. There have been no significant changes to methodologies and assumptions from the prior year. Future Policy Benefits The liability for future policy benefits consists of the liabilities related to insured events for the Company’s long-duration contracts, primarily its life and annuity products. For traditional life insurance products, the Company computes the liability for future policy benefits primarily using the net premium method based on anticipated investment yield, mortality, and withdrawals. These methods are widely used in the life insurance industry to estimate the liabilities for future policy benefits. Inherent in these calculations are management and actuarial judgments and estimates that could significantly impact the ending reserve liabilities and, consequently, operating results. Actual results may differ, and these estimates are subject to interpretation and change. Management believes that the Company's methods of estimating the liabilities for future policy benefits provided appropriate levels of reserves at December 31, 2020. Changes in the Company's future policy benefits estimates are recorded through a charge or credit to its earnings. Funds on Deposit Funds received (net of mortality and expense charges) for certain long-duration contracts (principally deferred annuities and universal life policies) are credited directly to a policyholder liability account, funds on deposit. Withdrawals are recorded directly as a reduction of respective policyholders' funds on deposit. Amounts on deposit were credited at annual rates ranging from 3.0% to 6.0% in both 2020 and 2019. Other Policyholders’ Funds Other policyholders’ funds represent interest-bearing liabilities arising from the sale of products, such as universal life, interest-sensitive life and annuities. Policyholder funds are primarily comprised of deposits received and interest credited to the benefit of the policyholder less surrenders and withdrawals, mortality charges and administrative expenses. Interest credited to policyholder funds represents interest accrued or paid on interest-sensitive life policies and investment policies. These amounts are reported in insurance benefits, claims and reserves on the Consolidated Statements of Income. Credit rates for certain annuities and interest-sensitive life policies are adjusted periodically by the Company to reflect current market conditions, subject to contractually guaranteed minimum rates. (L) Deferred Income Taxes The provision for deferred income taxes is based on the asset and liability method of accounting for income taxes. Under this method, deferred income taxes are recognized by applying enacted statutory tax rates to temporary differences between amounts reported in the Consolidated Financial Statements and the tax bases of existing assets and liabilities in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is recognized for the portion of deferred tax assets that, in management's judgment, is not likely to be realized. A liability for uncertain tax positions is recorded when it is more likely than not that a tax position will not be sustained upon examination by taxing authorities. The effect on deferred income taxes of a change in tax rates or laws is recognized in income tax expense in the period that includes the enactment date. The Company uses a portfolio approach to release income tax effects from accumulated other comprehensive income. The portfolio approach involves a strict period-by-period cumulative incremental allocation of income taxes to the change in unrealized gains and losses reflected in other comprehensive income. Under this approach, the net cumulative tax effect is ignored. The net change in unrealized gains or losses recorded in accumulated other comprehensive income under this approach would be eliminated only on the date the entire inventory of available-for-sale securities is sold or otherwise disposed of. Interest and penalties, if any, are included in income tax expense in the Consolidated Statements of Income. (M Reinsurance Amounts paid for or recoverable under reinsurance contracts are included in total assets or total liabilities as due from reinsurers or due to reinsurers. The cost of reinsurance related to long-duration contracts is accounted for over the life of the underlying reinsured policies using assumptions consistent with those used to account for the underlying policies. (N) Insurance Premium Revenue Recognition and Policy Charges Premiums from short-duration medical insurance contracts are intended to cover expected claim costs resulting from insured events that occur during a fixed period of short duration. The Company has the ability to not renew the contract or to revise the premium rates at the end of each annual contract period to cover future insured events. Insurance premiums from annual health contracts are collected monthly and are recognized as revenue evenly as insurance protection is provided. Premiums related to long-term and short-term disability contracts are recognized on a pro rata basis over the applicable contract term. Traditional life insurance products consist principally of products with fixed and guaranteed premiums and benefits, primarily term and whole life insurance products. Revenue from these products are recognized as premium when due. Annuities and interest-sensitive life contracts, such as universal life and interest sensitive whole life, are contracts whose terms are not fixed and guaranteed. Premiums from these policies are reported as funds on deposit. Policy charges consist of fees assessed against the policyholder for cost of insurance (mortality risk), policy administration and early surrender. These revenues are recognized when assessed against the policyholder account balance. Policies that do not subject the Company to significant risk arising from mortality or morbidity are considered investment contracts. Deposits received for such contracts are reported as other policyholder funds. Policy charges for investment contracts consist of fees assessed against the policyholder account for maintenance, administration and surrender of the policy prior to contractually specified dates, and are recognized when assessed against the policyholder account balance. (O) Fee Income Revenue Recognition Fee income includes fees and commissions for various sales, marketing and administrative services provided by the IHC Agencies and lead generation company. Revenue is recognized as these services are performed in an amount that reflects the consideration we expect to be entitled to in exchange for these services. The Company utilizes the following five-step approach to recognize revenue from contracts with customers: (1) (2) (3) (4) (5) Commission revenues result from the sales of certain policies by the IHC Agencies on behalf of multiple unaffiliated insurance carriers. The Company has identified the unaffiliated insurance carriers as its customers. Increased sales of products to these unaffiliated insurance carriers began in 2020 as a result of new contracts with the carriers and increased distribution channels. A significant portion of our commission revenues are recorded at a point in time based on expected constrained LTV that represent expected commissions to be received over the lifetime of the policies sold. These policies primarily consist of senior products, such as Medicare Advantage, Medicare Part D prescription drug plans and Medicare Supplement plans, as well as ACA plans and small group stop-loss. Commission rates are agreed to in advance with the relevant insurance carrier and vary by carrier and policy type. Other commission revenues are recorded over a period of time commensurate with the performance of certain policy retention and renewal services. Constrained LTV commissions are recorded at a point in time upon the issuance of a policy by the unaffiliated insurance carrier. It is at this point the performance obligation is considered satisfied. No significant additional performance obligation occurs with renewal of the initial policy. IHC records substantially all of the anticipated revenue from these policies on this date, adjusted for certain expected constraints. Various factors are analyzed to estimate the constrained LTV commissions. These include, but are not limited to, commission rates, carrier mix, contract amendments and terminations, estimated average plan durations, cancellations and non-renewals. After our initial estimates and constraints are made, the Company reassesses its estimates and constraints at the end of each reporting period. We recognize any material impact of changes to commission revenue in the period when the changes are made to the assumptions we use to calculate constrained LTV or previously estimated constrained LTV already recognized as revenue. Revenues for administrative services, such as premium collections, client services and claims processing, all considered to be a single performance obligation, are recognized over time as these services are performed. One of our agencies administers a block of pet business for an unaffiliated pet insurer that is in run-off and, until its sale in June 2020, another one of our agencies administered occupational accident plans including injured-on-duty accident plans and employer liability plans, and self-funded workers’ compensation plans. The Company has identified the unaffiliated insurance carriers as its customers. Some payments are received monthly or quarterly over the underlying policy period which is shorter than the life of the administrative period. A portion of these payments, in addition to any payments that are received as a lump-sum in advance, are recorded as deferred revenues and recognized in income over the life of the administrative contracts. Revenues for marketing services, primarily STM, Fixed Indemnity Limited Benefit and other ancillary policies, are recognized over time. The Company has identified the unaffiliated insurance carriers as its customers. The Company receives fees for these marketing services each month based on a flat fee times monthly enrollment figures. Revenues for the use of our INSX cloud-based enrollment platform are recognized over time. This platform enables brokers and agents to quote and enroll consumers in ACA plans as well as ancillary health products. In this case, the independent brokers and agents are the customers and they are charged a monthly fee for the right to use the hosted cloud software. Amounts received in advance (annual or quarterly) are recorded as deferred revenues and recognized in income over the life of the contract. Certain IHC subsidiaries earn fees for various lead and referral services. Each service has one performance obligation which is satisfied at a point in time when a lead is transferred to the customer or a referral results in a completed application. The Company has identified the unaffiliated insurance carriers as its customer. All prices are specified in the applicable contract. IHC Agencies also earn fees from policyholders for: (i) the convenience of paying for pet premiums in installments or by credit card; and (ii) the submission of online application or enrollment forms for various products. These fees are earned, and simultaneously received, from the policyholder/applicant at the point in time premium payments are made or online applications/enrollments are submitted. (P) Income Per Common Share Income per common share is computed using the treasury stock method. (Q) Share-Based Compensation Compensation costs for equity awards, such as stock options and non-vested restricted stock, are measured based on grant-date fair value and are recognized in the Consolidated Statements of Income over the requisite service period (which is usually the vesting period). For such awards with only service conditions, the Company recognizes the compensation cost on a straight-line basis over the requisite service period for the entire award. Compensation costs for liability-classified awards, such as share appreciation rights (“SARs”), are measured and accrued each reporting period in the Consolidated Statements of Income as the requisite service or performance conditions are met. (R) Recent Accounting Pronouncements Recently Adopted Accounting Standards In October 2018, the Financial Accounting Standards Board (“FASB”) issued |
Earnings Per Share _Text Block_
Earnings Per Share [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Earnings Per Share | Note 2. Income Per Common Share Included in the diluted earnings per share calculation for the years ended December 31, 2020 and 2019 are 58,000 and 73,000 of incremental common shares, respectively, primarily from the dilutive effect of share-based payment awards. |
Cash and Cash Equivalents Discl
Cash and Cash Equivalents Disclosure | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Cash and Cash Equivalents Disclosure | Note 3. Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the amounts shown in the Consolidated Statements of Cash Flows for the periods indicated (in thousands): December 31, 2020 2019 Cash and cash equivalents $ 72,089 $ 21,094 Restricted cash included in other assets 2,704 3,537 Total cash, cash equivalents and restricted cash $ 74,793 $ 24,631 Restricted cash includes insurance premiums collected from insureds that are pending remittance to insurance carriers and/or payment of insurance claims and commissions to third party administrators. These amounts are required to be set aside by contractual agreements with the insurance carriers and are included in other assets on the Consolidated Balance Sheets. |
Investments in Debt and Marketa
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure | Note 4. Investment Securities The cost (amortized cost with respect to certain fixed maturities), gross unrealized gains, gross unrealized losses and fair value of fixed maturities available-for-sale are as follows for the periods indicated (in thousands): December 31, 2020 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 175,541 $ 3,735 $ (2,113) $ 177,163 CMOs – residential (1) 5,215 242 (2) 5,455 U.S. Government obligations 50,332 830 - 51,162 Agency MBS – residential (2) 39 - (5) 34 GSEs (3) 5,852 - (155) 5,697 States and political subdivisions 159,421 3,230 (691) 161,960 Foreign government obligations 4,907 271 - 5,178 Total fixed maturities $ 401,307 $ 8,308 $ (2,966) $ 406,649 December 31, 2019 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 161,369 $ 1,832 $ (1,178) $ 162,023 CMOs – residential (1) 5,328 54 - 5,382 U.S. Government obligations 50,340 257 (48) 50,549 GSEs (3) 6,230 - (107) 6,123 States and political subdivisions 153,439 1,512 (943) 154,008 Foreign government obligations 6,719 172 (2) 6,889 Total fixed maturities $ 383,425 $ 3,827 $ (2,278) $ 384,974 (1) (2) (3) The amortized cost and fair value of fixed maturities available-for-sale at December 31, 2020, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. AMORTIZED FAIR COST VALUE Due in one year or less $ 46,640 $ 47,037 Due after one year through five years 187,907 192,758 Due after five years through ten years 84,131 84,900 Due after ten years 71,532 70,768 Fixed maturities with no single maturity date 11,097 11,186 $ 401,307 $ 406,649 The following tables summarize, for all fixed maturities available-for-sale in an unrealized loss position, the aggregate fair value and gross unrealized loss by length of time those securities that have continuously been in an unrealized loss position for the periods indicated (in thousands): December 31, 2020 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 47,369 $ 719 $ 12,073 $ 1,394 $ 59,442 $ 2,113 CMOs-residential 748 2 - - 748 2 Agency MBS - residential 34 5 - - 34 5 GSEs - - 5,693 155 5,693 155 States and political subdivisions 35,555 254 8,681 437 44,236 691 Fixed maturities in an unrealized loss position $ 83,706 $ 980 $ 26,447 $ 1,986 $ 110,153 $ 2,966 Number of fixed maturities in an unrealized loss position 33 17 50 December 31, 2019 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 18,151 $ 455 $ 32,301 $ 723 $ 50,452 $ 1,178 U.S. Government obligations - - 7,167 48 7,167 48 GSEs - - 6,173 107 6,173 107 States and political subdivisions 29,872 114 29,462 829 59,334 943 Foreign government obligations - - 1,603 2 1,603 2 Fixed maturities in an unrealized loss position $ 48,023 $ 569 $ 76,706 $ 1,709 $ 124,729 $ 2,278 Number of fixed maturities in an unrealized loss position 18 43 61 Substantially all of the unrealized losses on fixed maturities available-for-sale at December 31, 2020 and 2019 relate to investment grade securities. Management does not intend to sell, and it is likely that management will not be required to sell these securities prior to their anticipated recovery. The unrealized losses on the Company's fixed maturity securities are related to general market changes in interest rates, and/or the levels of credit spreads largely due to current market conditions relating to the COVID-19 pandemic rather than specific concerns with the issuer's ability to pay interest and repay principal. We have evaluated each corporate security’s credit rating as well as industry risk factors associated with the securities. The fair value of these securities is expected to recover as they approach maturity and therefore the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2020. The following table summarizes the Company’s net investment income for the years indicated (in thousands): 20 20 201 9 Fixed maturities $ 11,106 $ 14,128 Equity securities 146 386 Cash, cash equivalents and other short-term investments 465 1,004 Other 154 239 Investment income, gross 11,871 15,757 Investment expenses (94) (114) Net investment income $ 11,777 $ 15,643 Net investment gains (losses) are as follows for years indicated (in thousands): 2020 2019 Realized gains (losses): Fixed maturities available-for-sale $ 742 $ 4,105 Equity securities - (13) Total realized gains (losses) on debt and equity securities 742 4,092 Unrealized gains (losses) on equity securities 586 613 Gains (losses) on debt and equity securities 1,328 4,705 Gains (losses) on other investments 18 - Net investment gains (losses) $ 1,346 $ 4,705 For the years ended December 31, 2020 and 2019, the Company realized gross gains of $1,376,000 and $5,144,000, respectively, and gross losses of $634,000 and $1,039,000, respectively, from sales, maturities and prepayments of fixed maturities available-for-sale. We recognize other-than-temporary impairment losses on fixed maturities available-for-sale in earnings in the period that we determine: 1) we intend to sell the security; 2) it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis; or 3) the security has a credit loss. Any non-credit portion of the other-than-temporary impairment loss is recognized in other comprehensive income (loss). The Company did not recognize any other-than-temporary impairments on available for sale securities in 2020. In 2019, the Company recognized other-than-temporary impairment losses of $646,000 on certain fixed maturities available-for-sale as the Company determined that it was more likely than not that we would sell the securities before the recovery of their amortized cost basis. |
Fair Value Disclosures _Text Bl
Fair Value Disclosures [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Fair Value Disclosures | Note 5. Fair Value Disclosures For all financial and non-financial assets and liabilities accounted for at fair value on a recurring basis, the Company utilizes valuation techniques based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market expectations. These two types of inputs create the following fair value hierarchy: Level 1 Level 2 Level 3 The following section describes the valuation methodologies we use to measure different assets and liabilities at fair value. Fixed maturities available-for-sale: Fixed maturities available-for-sale included in Level 2 are comprised of our portfolio of government securities, agency mortgage-backed securities, corporate fixed income securities, foreign government obligations, collateralized mortgage obligations, municipals and GSEs that were priced with observable market inputs. Level 3 debt securities consist of municipal tax credit strips. The valuation method used to determine the fair value of municipal tax credit strips is the present value of the remaining future tax credits (at the original issue discount rate) as presented in the redemption tables in the Municipal Prospectuses. This original issue discount is accreted into income on a constant yield basis over the term of the debt instrument. Further, we retain independent pricing vendors to assist in valuing certain instruments. Equity securities: Equity securities included in Level 1 are equity securities with quoted market prices. The following tables present our financial assets measured at fair value on a recurring basis for the periods indicated (in thousands): December 31, 2020 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 177,163 $ - $ 177,163 CMOs - residential - 5,455 - 5,455 US Government obligations - 51,162 - 51,162 Agency MBS - residential 34 34 GSEs - 5,697 - 5,697 States and political subdivisions - 160,625 1,335 161,960 Foreign government obligations - 5,178 - 5,178 Total fixed maturities - 405,314 1,335 406,649 Equity securities: Common stocks 3,411 - - 3,411 Nonredeemable preferred stocks 2,708 - - 2,708 Total equity securities 6,119 - - 6,119 Total Financial Assets $ 6,119 $ 405,314 $ 1,335 $ 412,768 December 31, 2019 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 162,023 $ - $ 162,023 CMOs - residential - 5,382 - 5,382 US Government obligations - 50,549 - 50,549 GSEs - 6,123 - 6,123 States and political subdivisions - 152,479 1,529 154,008 Foreign government obligations - 6,889 - 6,889 Total fixed maturities - 383,445 1,529 384,974 Equity securities: Common stocks 2,864 - - 2,864 Nonredeemable preferred stocks 883 - - 883 Total equity securities 3,747 - - 3,747 Total Financial Assets $ 3,747 $ 383,445 $ 1,529 $ 388,721 The following table presents the changes in fair value of our Level 3 financial assets for the years indicated (in thousands): 2020 2019 States and Total States and Total Political Level 3 Political Level 3 Subdivisions Assets Subdivisions Assets Beginning balance $ 1,529 $ 1,529 $ 1,709 $ 1,709 Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) (23) (23) (26) (26) Repayments and amortization of fixed maturities (171) (171) (154) (154) Balance at end of period $ 1,335 $ 1,335 $ 1,529 $ 1,529 Included in unrealized gains (losses) on available-for-sale securities, pre-tax, on the Consolidated Statement of Comprehensive Income for the year ended December 31, 2020, are unrealized gains (losses) of $(19,000) attributable to the change in unrealized gains (losses) related to Level 3 securities held at December 31, 2020. The following table provides carrying values, fair values and classification in the fair value hierarchy of the Company’s financial instruments, that are not carried at fair value but are subject to fair value disclosure requirements, for the periods indicated (in thousands): December 31, 2020 December 31, 2019 Level 1 Level 2 Level 1 Level 2 Fair Fair Carrying Fair Fair Carrying Value Value Value Value Value Value FINANCIAL ASSETS: Short-term investments $ 2,634 $ - $ 2,634 $ 50 $ - $ 50 Securities purchased under agreements to resell $ 49,990 $ - $ 49,990 $ 107,157 $ - $ 107,157 FINANCIAL LIABILITIES: Funds on deposit $ - $ 141,409 $ 141,376 $ - $ 141,010 $ 140,951 Other policyholders’ funds $ - $ 12,001 $ 12,789 $ - $ 12,049 $ 12,049 The following methods and assumptions were used to estimate the fair value of the financial instruments that are not carried at fair value in the Consolidated Financial Statements: Securities purchased under agreements to resell Securities purchased under agreements to resell are carried at the amounts at which the securities will be subsequently resold, which approximates fair value. Short-term Investments Investments with original maturities of 91 days to one year are considered short-term investments and are carried at cost, which approximates fair value. Funds on Deposit The Company has two types of funds on deposit. The first type is credited with a current market interest rate, resulting in a fair value which approximates the carrying amount. The second type carries fixed interest rates which are higher than current market interest rates. The fair value of these deposits was estimated by discounting the payments using current market interest rates. The Company's universal life policies are also credited with current market interest rates, resulting in a fair value which approximates the carrying amount. Both types of funds on deposit are included in Level 2 of the fair value hierarchy. Other Policyholders’ Funds Other policyholders’ funds are primarily credited with current market interest rates resulting in a fair value which approximates the carrying amount. |
Investments in and Advances to
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Investments in and Advances to Affiliates, Schedule of Investments | Note 6. Other Investments, Including Variable Interest Entities Other investments consist of the following for the periods indicated (in thousands): December 31, 20 20 201 9 Equity method investments $ 1,958 $ 10,171 Equity investments carried at cost less impairments 6,250 5,000 Other investments and securities, at cost 30 37 $ 8,238 $ 15,208 Equity Method Investments Equity income (loss) from equity method investments for the years ended December 31, 2020 and 2019 was $346,000 and $1,304,000, respectively. In 2020, the Company acquired the remaining membership units it did not already own in both Abacus and in Torchlight, both of which were previously accounted for under the equity method. See Note 7 for more information about these acquisitions. In July 2020, the Company received a cash distribution in the amount of $3,462,000 from an equity method investment representing a final return on investment. In the fourth quarter of 2019, the Company determined that, due to recurring losses historically and uncertainty for future profitability, there was sufficient evidence to indicate that the carrying value of the Company’s investment in Ebix Health Exchange was no longer recoverable. As a result, the Company recorded an other-than-temporary impairment loss of $3,712,000 which is included in other income on the Consolidated Statement of Income for the year ended December 31, 2019. At December 31, 2019, the carrying value of the Company’s equity investment in Ebix Health Exchange is $0 and for the year ended December 31, 2019, the Company recorded equity losses of $2,713,000 from its investment. In 2020, the Company discontinued applying the equity method with regards to recording any additional equity losses. In 2019, the Company also: (i) acquired substantially all of the assets and liabilities of a sales and customer service call center that was previously accounted for as an equity method investment (See Note 7 for more information); (ii) paid $3,000,000 for an equity interest in Torchlight that was accounted for as an equity method investment; and (iii) received an aggregate $1,772,000 of distributions from equity method investments. Equity I nvestments Carried at Cost Less I mpairments In February 2020, the Company made an additional $1,250,000 equity investment in FIGO, a leading insuretech brand company in the pet insurance space focused on referral partners as well as direct-to-consumer and employer benefit channels. In general, companies that provide insurance through user-centric platforms, or create efficiencies in the insurance industry through technological advances, are referred to as “insuretech” companies. In 2019, the Company paid $5,000,000 for its initial equity interest in FIGO. In March 2019, the Company’s equity investment in Pets Best, carried at a cost of $500,000, was acquired by an unaffiliated entity and the Company realized a gain of $3,589,000 on the sale, which is included in Other Income in the Consolidated Statement of Income for the year ended December 31, 2019. Variable Interest Entities Other investments at December 31, 2020 and 2019, shown in the table above, include $1,958,000 and $5,075,000, respectively, of noncontrolling interests in certain limited partnerships that we have determined to be Variable Interest Entities (“VIEs”). The aforementioned VIEs are not required to be consolidated in the Company’s consolidated financial statements as we are not the primary beneficiary since we do not have the power to direct the activities that most significantly impact the VIEs’ economic performance. The Company will periodically reassess whether it is the primary beneficiary in any of these investments. The reassessment process will consider whether it has acquired the power to direct the most significant activities of the VIEs through changes in governing documents or other circumstances. The Company’s maximum loss exposure is limited to the combined $1,958,000 carrying value in these equity investments and the Company has no future funding obligations to them. Related Party Transactions At December 31, 2020 and 2019, the Company’s Consolidated Balance Sheets include $0 and $5,000, respectively, of notes and other amounts receivable from Ebix Health Exchange, and include $126,000 and $250,000, respectively, of administrative fees and other expenses payable to Ebix Health Exchange, which are included in other assets and accounts payable, accruals and other liabilities, respectively. In 2019, recurring losses reported by Ebix Health Exchange, and uncertainty regarding their future profitability, made the collectability of the outstanding notes receivable from Ebix Health Exchange doubtful and as a result, the Company recorded a provision for losses related to these notes in the amount of $1,773,000, which is included in selling, general and administrative expenses on the Consolidated Statement of Income for the year ended December 31, 2019. For the years ended December 31, 2020 and 2019, the Company’s Consolidated Statements of Income include administrative fee expenses to Ebix Health Exchange, which are included in selling, general and administrative expenses, of $1,652,000 and $2,180,000, respectively. The Consolidated Statement of Income for the year ended December 31, 2020 includes premiums earned of $14,826,000 and includes selling, general and administrative expenses of $5,641,000 related to pet insurance business produced by FIGO. Selling, general and administrative expense for the year ended December 31, 2020 also includes approximately $1,507,000 of expense related to the purchase of leads from an affiliated lead generation company. The affiliated lead generation company, Torchlight, was acquired in April 2020, see Note 7. Lead costs subsequent to the acquisition are eliminated in consolidation. For the year ended December 31, 2019, the Consolidated Statement of Income includes approximately $ |
Business Combination Disclosure
Business Combination Disclosure | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Business Combination Disclosure | Note 7. Acquisitions The Abacus Group, LLC. On January 1, 2020 (the "Abacus Acquisition Date"), the Company acquired the remaining 56% Upon the acquisition, the Company consolidated the assets and liabilities of Abacus. The following table presents the identifiable assets acquired and liabilities assumed in the acquisition of Abacus on the Abacus Acquisition Date based on their respective fair values (in thousands): Other assets $ 350 Deferred tax asset 439 Total identifiable assets 789 Other liabilities 575 Total liabilities 575 Net identifiable assets acquired $ 214 In connection with the acquisition, the Company recorded $4,223,000 of goodwill (see Note 8) of which $2,725,000 is deductible for income tax purposes. Goodwill represents the synergies with our insurance carriers. Abacus has an existing distribution network and offers increased distribution sources for IHC carriers’ existing products and developing products through its enrollment platform designed specifically for producers in the worksite marketplace. Goodwill was calculated as the sum of (i) Revenue and net income from Abacus for the period from the Abacus Acquisition Date to December 31, 2020, is not material as most of their agency fee income is derived from Madison National Life and is now eliminated in consolidation. The amount of fee income earned from other carriers in 2020 is not material and will reduce over time as the business either runs-off or is transitioned to Madison National Life. Pro forma adjustments to present the Company’s consolidated revenues and net income as if the acquisition date was January 1, 2019 are not material and accordingly are omitted. Torchlight Technology Group LLC. On April 15, 2020 (the "Torchlight Acquisition Date"), the Company acquired the remaining Upon the acquisition, the Company consolidated the assets and liabilities of Torchlight. The following table presents the identifiable assets acquired and liabilities assumed in the acquisition of Torchlight on the Torchlight Acquisition Date based on their respective fair values (in thousands): Cash $ 333 Intangible assets 2,700 Deferred tax asset 552 Other assets 2,132 Total identifiable assets 5,717 Other liabilities 1,354 Total liabilities 1,354 Net identifiable assets acquired $ 4,363 In connection with the acquisition, the Company recorded $10,512,000 of goodwill, of which $7,976,000 is deductible for income tax purposes, and $2,700,000 of intangible assets (see Note 8). Goodwill represents the synergies with our agencies. With a significant dependence on consumer and small business opportunities, our agencies require a consistent and predictable flow of lead traffic, and as a result, have meaningful synergies with the functions and deliverables that are developed at Torchlight. (i) Revenue and net loss from Torchlight for the period from the Torchlight Acquisition Date to December 31, 2020 is $9,651,000 and $(2,477,000), respectively. Torchlight’s net loss for the Torchlight Acquisition Date to December 31, 2020 is primarily the result of expenses incurred by the Company to integrate Torchlight’s MarTech, artificial data intelligence and consumer lead generation capabilities with the Company’s other operations and acquisition accounting adjustments. In 2019, and prior to its acquisition in 2020, Torchlight’s net income was not significant. It is for this reason that pro forma adjustments to present the Company’s consolidated revenues and net income as if the acquisition date was January 1, 2019 are not material and accordingly are omitted. Other Business Acquisitions . In 2019 the Company made several business acquisitions as follows: In January 2019, the Company acquired all of the stock of My1HR, a web-based entity with a state-of-the-art insurance quoting and cloud-based enrollment platform, INSX Cloud. In general, companies that provide insurance through user-centric platforms, or create efficiencies in the insurance industry through technological advances, are referred to as “insuretech” companies. The Company acquired My1HR for its quoting and cloud-based enrollment platforms as part of an effort to expand our “insuretech” footprint through our agencies, which generate leads and sell our products through our owned call center and career advisors. In April 2019, the Company purchased substantially all of the assets and liabilities of a sales and customer service call center. The Company acquired the call center in order to capitalize on technology-driven trends in the purchase of health insurance directly by consumers. Prior to the purchase, the Company owned an equity interest in the call center. Immediately preceding the transaction, the Company determined the fair value of its equity interest to be $720,000 using a market approach and, as a result, recorded a loss of $237,000 which is included in other income on the Consolidated Statement of Income. The aggregate fair value of consideration transferred for these acquisitions was $8,534,000 cash. The following table presents the aggregate acquisition-date fair values of the identifiable assets acquired and liabilities assumed in these transactions (in thousands): Cash $ 582 Intangible assets 1,500 Other assets 1,341 Total identifiable assets 3,423 Other liabilities 3,637 Total liabilities 3,637 Net identifiable assets (liabilities) acquired $ (214) In connection with these 2019 acquisitions, the Company recorded $9,468,000 of goodwill and $1,500,000 of intangible assets (see Note 8). The amount of goodwill and certain other intangibles entitled to an amortization deduction for income tax purposes is $10,921,000. Goodwill reflects the synergies with our insurance carriers. My1HR has an existing distribution network and offers increased distribution sources for IHC carrier products through its quoting and cloud based enrollment platforms designed specifically for producers in the small group employer market individual products for all IHC carriers as well as select group ACA and level funded health coverages from leading national health plans. The acquisition of the call center is expected to expand our existing call center reach and increase sales of IHC-underwritten health insurance. Goodwill was calculated as the sum of (i) the aggregate acquisition-date fair value of total cash consideration transferred of $8,534,000, (ii) the aggregate acquisition-date fair value of equity interests immediately before the acquisition of $720,000; and (iii) the net identifiable liabilities of $214,000 assumed. Enterprise values were determined either by an independent appraisal using a discounted cash flow model based upon the projected future earnings or by a market approach net of any control premiums. Acquisition-related costs, primarily legal and consulting fees, were not material and are included in selling, general and administrative expenses in the Consolidated Statement of Income. For the period from the acquisition dates to December 31, 2019, the Company’s Consolidated Statement of Income includes revenues and net income of $3,876,000 and $(838,000), respectively, from these acquisitions. Pro forma adjustments to present the Company’s consolidated revenues and net income as if the acquisition dates were January 1, 2018 are not material and accordingly are omitted. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Goodwill and Intangible Assets Disclosure | Note 8. Goodwill and Other Intangible Assets Changes in goodwill and goodwill balances by reportable segment are as follows for the periods indicated (in thousands): Specialty Group disability Health life, DBL and PFL Total Balance at December 31, 2018 $ 50,697 $ - $ 50,697 Acquisitions in 2019 (see Note 7) 9,468 - 9,468 Balance at December 31, 2019 60,165 - 60,165 Acquisitions in 2020 (see Note 7) 10,512 4,223 14,735 Balance at December 31, 2020 $ 70,677 $ 4,223 $ 74,900 Intangible Assets The Company has net other intangible assets of $15,146,000 and $13,379,000 at December 31, 2020 and 2019, respectively, which are included in other assets in the Consolidated Balance Sheets. These intangible assets consist of: (i) finite-lived intangible assets, principally the fair value of acquired agent and broker relationships, which are subject to amortization; and (ii) indefinite-lived intangible assets which consist of the estimated fair value of insurance licenses that are not subject to amortization. The gross carrying amounts of these other intangible assets are as follows for the periods indicated (in thousands): December 31, 2020 December 31, 2019 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Finite-lived Intangible Assets: Agent and broker relationships $ 12,683 $ 8,273 $ 18,753 $ 14,474 Domain 1,000 425 1,000 325 Software systems 2,930 746 780 332 Total finite-lived $ 16,613 $ 9,444 $ 20,533 $ 15,131 December 31, 2020 2019 Indefinite-lived Intangible Assets: Insurance licenses $ 7,977 $ 7,977 Total indefinite-lived $ 7,977 $ 7,977 In connection with the acquisition of Torchlight in 2020, as discussed in Note 7, the Company recorded $2,700,000 of intangible assets associated with the Specialty Health segment, of which $1,200,000 represents the fair value of customer relationships being amortized over a weighted average period of 10 years, and $1,500,000 represents software technology being amortized over a weighted average period of 8 years. In June 2020, the Company acquired TailTrax, which is an Android and IOS app that contains features valued by pet parents for $650,000 and is being amortized over a weighted average period of 3 years. In 2019, the Company recorded $1,500,000 of intangible assets in connection with business acquisitions discussed in Note 7 that are associated with the Specialty Health segment. Amortization expense was $1,496,000 and $1,284,000 for the years ended December 31, 2020 and 2019, respectively. Estimated amortization expense for each of the next five years is as follows (in thousands): Amortization Year Expense 2021 $ 1,556 2022 1,380 2023 1,079 2024 805 2025 676 |
Lessee, Operating Leases
Lessee, Operating Leases | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Lessee, Operating Leases | Note 9. Leases Certain subsidiaries of the Company are obligated under operating lease agreements for office space and office equipment. At December 31, 2020 and 2019, right-of-use assets related to the Company’s operating leases amounted to $9,454,000 and $6,672,000, respectively, which are included in other assets on the Consolidated Balance Sheets. Corresponding lease liabilities at December 31, 2020 and 2019, which are included in other liabilities on the Consolidated Balance Sheets, amounted to $9,992,000 and $7,243,000, respectively. Weighted average discount rates used to measure lease liabilities was 5.99% and 6.70% at December 31, 2020 and 2019, respectively. The leases have remaining lease terms of 1 to 8 years, some of which include options to extend the leases for up to 5 years. The weighted average remaining lease term at December 31, 2020 is 5 years. Variable lease costs consist primarily of the Company’s proportionate share of real estate taxes and operating expenses related to leased premises. The following table summarizes information pertaining to our lease obligations for the periods indicated (in thousands): 2020 2019 Operating lease costs $ 2,614 $ 2,277 Short-term lease costs 208 194 Variable lease costs 489 456 Total lease costs $ 3,311 $ 2,927 Other information: Operating cash flows from operating leases $ (2,647) $ (2,392) Right-of-use assets obtained for operating leases $ 4,868 $ 1,688 Maturities of operating lease liabilities at December 31, 2020 were as follows: Due in the next year $ 2,624 Due in two years 2,603 Due in three years 1,721 Due in four years 1,448 Due in five years 1,227 Due in remaining years 2,002 Total payments due 11,625 Present value discount (1,633) Operating lease liability $ 9,992 |
Reinsurance _Text Block_
Reinsurance [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Reinsurance | Note 10. Reinsurance The Insurance Group reinsures portions of certain business in order to limit the assumption of disproportionate risks. Amounts not retained are ceded to other companies on an automatic or facultative basis. In addition, the Insurance Group participates in various coinsurance treaties on a quota share or excess basis. The Company is contingently liable with respect to reinsurance in the unlikely event that the assuming reinsurers are unable to meet their obligations. The ceding of reinsurance does not discharge the primary liability of the original insurer to the insured. The effects of reinsurance on premiums earned and insurance benefits, claims and reserves are shown below for the periods indicated (in thousands). ASSUMED CEDED GROSS FROM OTHER TO OTHER NET AMOUNT COMPANIES COMPANIES AMOUNT Premiums Earned December 31, 2020 Accident and health $ 305,032 $ 7 $ 23,741 $ 281,298 Life and annuity 55,771 756 27,163 29,364 Property and liability 86,876 - 8 86,868 $ 447,679 $ 763 $ 50,912 $ 397,530 December 31, 2019 Accident and health $ 287,529 $ 5 $ 22,538 $ 264,996 Life and annuity 54,825 998 33,061 22,762 Property and liability 51,046 - 63 50,983 $ 393,400 $ 1,003 $ 55,662 $ 338,741 Insurance benefits, claims and reserves December 31, 2020 $ 242,399 $ 2,307 $ 36,489 $ 208,217 December 31, 2019 $ 215,477 $ 2,681 $ 44,037 $ 174,121 |
Revenue from Contract with Cust
Revenue from Contract with Customer | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Revenue from Contract with Customer | Note 11. Fee Income Substantially all of the fee income recorded by the IHC Agencies and lead generation company relate to our Specialty Health segment. The following table presents fee income disaggregated by type for the years indicated (in thousands). 2020 2019 Commissions $ 13,432 $ 1,964 Administrative Fees 2,349 4,805 Marketing Fees 1,229 2,699 Enrollment Platform Fees 2,020 1,890 Lead and Referral Fees 3,665 1,420 Payment Plan, Application and Other Fees 1,442 1,225 Total Fee Income $ 24,137 $ 14,003 Commission Revenue s Commission revenues result from the sales of certain policies by the IHC Agencies on behalf of multiple unaffiliated insurance carriers. Increased sales of products to these unaffiliated insurance carriers began in 2020 as a result of new contracts with the carriers and increased distribution channels. These policies primarily consist of senior products, such as Medicare Advantage, Medicare Part D prescription drug plans and Medicare Supplement plans, as well as ACA plans and small group stop-loss. A significant portion of our commission revenues are recorded at a point in time upon the issuance of a policy by the unaffiliated insurance carrier based on expected constrained LTV. Constrained LTV represents expected commissions to be received over the lifetime of the policies sold. The Company analyzes various factors, such as commission rates, carrier mix, contract amendments and terminations, estimated average plan durations, cancellations and non-renewals, to estimate the LTV. Constraints are applied to help ensure that the total estimated lifetime commissions expected to be collected are recognized as revenue only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. We evaluate the appropriateness of our constraints on a quarterly basis and update the LTV assumptions if we observe evidence that suggests a change in the underlying long-term expectations. In doing this, we apply significant judgement in assessing historical cash collections and changes in circumstances that would impact future cash collections such as, but not limited to, commission rates, carrier mix, plan durations, plan cancellations and non-renewals. Changes in LTV result in an increase or decrease to fee income revenue and a corresponding increase or decrease to contract assets. Any significant impact due to changes in the LTV assumptions are recognized in revenue (i) in the period of the change; and (ii) to the extent we do not believe a significant reversal is probable. Costs to Fulfill a Contract Costs to fulfill a contract include commissions owed to independent licensed agents or affinity partners that are contracted by the IHC Agencies. Upon the submission of a completed insurance application, the sales and marketing performance obligation is complete and the resultant estimated lifetime commission costs incurred are expensed and a corresponding commissions liability is recorded on the Consolidated Balance Sheet. As policyholders continue their policy and remit monthly premium payments, the Company receives its commissions from the insurance carrier. Commissions owed to the agent or affinity partner are then paid and the corresponding liability is reduced. Judgement is required to estimate total expected lifetime commissions based on policy duration assumptions. At December 31, 2020, the aforementioned commission liability is $2,362,000 and is included in accounts payable, accruals and other liabilities on the Consolidated Balance Sheet. The balance at December 31, 2019 was immaterial. Contract Assets Contract assets primarily relate to our commission revenues for the sales of senior products, such as Medicare Advantage and Medicare Supplement plans, ACA plans and small group stop-loss, which began in 2020. When commission revenue for the sales of these products is recognized, a corresponding contract asset is recorded in other assets on the Consolidated Balance Sheet. The timing of revenue differs from the collection of commissions. As policyholders continue their policy and remit monthly premium payments, the Company receives its commissions from the insurance carrier and the contract asset is reduced. The following table summarizes the contract asset activity for the current year (in thousands). Prior year activity was immaterial. 2020 Beginning balance $ 255 Commissions recognized during the period 13,432 Cash receipts (5,840) Ending balance $ 7,847 Remaining Performance Obligations Deferred revenues are recorded in connection with certain terminable contracts, the right to use our INSX enrollment platform and administrative contracts for a block of pet insurance that is in run-off. At December 31, 2020, deferred revenues are immaterial and expected to be fully recognized within the next 12 months. |
Liability for Future Policy Ben
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Liability for Future Policy Benefits and Unpaid Claims Disclosure | Note 12. Policy Benefits and Claims Policy benefits and claims is the liability for unpaid loss and loss adjustment expenses. It is comprised of unpaid claims and estimated IBNR reserves related to the Company’s short-duration contracts. Summarized below are the changes in the total liability for policy benefits and claims for the years indicated (in thousands). Amounts incurred below do not include expenses for policy benefits and costs incurred for the Company’s life, annuity and other long-duration contracts. In addition, certain loss adjustment expenses related to short-duration contracts that are included in amounts incurred below are classified as selling general and administrative expenses on the Consolidated Statements of Income. 2020 Specialty DBL and Group All Other Health PFL Disability Lines Total Balance at beginning of year $ 42,228 $ 23,438 $ 80,079 $ 19,057 $ 164,802 Less: reinsurance recoverable 1,717 664 23,322 11,290 36,993 Net balance at beginning of year 40,511 22,774 56,757 7,767 127,809 Amount incurred, related to: Current year 89,379 78,443 34,109 18,189 220,120 Prior years (4,283) (3,478) (1,689) (3,284) (12,734) Total incurred 85,096 74,965 32,420 14,905 207,386 Amount paid, related to: Current year 57,262 43,949 12,355 12,174 125,740 Prior years 26,666 18,971 18,318 2,394 66,349 Total paid 83,928 62,920 30,673 14,568 192,089 Net balance at end of period 41,679 34,819 58,504 8,104 143,106 Plus: reinsurance recoverable 1,776 430 22,472 11,448 36,126 Balance at end of period $ 43,455 $ 35,249 $ 80,976 $ 19,552 $ 179,232 2019 Specialty DBL and Group All Other Health PFL Disability Lines Total Balance at beginning of year $ 38,363 $ 21,080 $ 82,222 $ 18,450 $ 160,115 Less: reinsurance recoverable 1,335 719 24,712 11,356 38,122 Net balance at beginning of year 37,028 20,361 57,510 7,094 121,993 Amount incurred, related to: Current year 82,678 65,452 31,463 16,531 196,124 Prior years (5,879) (6,489) (5,192) (2,734) (20,294) Total incurred 76,799 58,963 26,271 13,797 175,830 Amount paid, related to: Current year 49,669 42,803 11,794 11,053 115,319 Prior years 23,647 13,747 15,230 2,071 54,695 Total paid 73,316 56,550 27,024 13,124 170,014 Net balance at end of period 40,511 22,774 56,757 7,767 127,809 Plus: reinsurance recoverable 1,717 664 23,322 11,290 36,993 Balance at end of period $ 42,228 $ 23,438 $ 80,079 $ 19,057 $ 164,802 Since unpaid loss and loss adjustment expenses are estimates, actual losses incurred may be more or less than the Company’s previously developed estimates and is referred to as either unfavorable or favorable development, respectively. Net favorable (unfavorable) development in the Specialty Health segment, as depicted in the tables above, is comprised of the following lines of business for the years indicated (in thousands): Specialty Health segment: 2020 2019 Short-term Medical $ 1,425 $ 1,850 Occupational Accident 1,460 2,054 Fixed Indemnity Limited Benefit (1,280) 166 Limited Medical 407 474 Critical Illness 434 325 Group Gap 616 132 Pet 618 128 All other specialty health lines 603 750 Total Specialty Health segment $ 4,283 $ 5,879 In 2020, net favorable development in the various lines of the Specialty Health segment shown above is primarily due to better than expected claim development. Unfavorable development in the Fixed Indemnity Limited Benefit line in 2020 is primarily due to higher than expected claim severity on a small number of older policies. In 2019, favorable development in short-term medical business was due to paid claim activity that was below anticipated levels as medical investigations were completed and the reliability of claim payment patterns at a newer claim administrator emerged. Additionally, favorable development occurred in the occupational accident line, in run-off, mainly due to some claims settling for amounts less than anticipated and due to a lower level of employer liability claims than anticipated in relation to historical levels, and favorable development in other various lines of Specialty Health business is primarily due to better than expected claim development. The net favorable development in the DBL and PFL business of $3,478,000 and $6,489,000 in 2020 and 2019, respectively, is primarily due to both favorable adjustments to prior year DBL premium refund reserves and better than expected DBL claims experience. In 2020, favorable development of $1,689,000 in the group disability business is primarily due to a reduction in the number of open claims and a reduction in the severity of new claims, specifically, new claims in the LTD line, partially offset by an increase in the overall frequency and severity of claims in the STD line. In 2019, favorable development of $5,192,000 in the group disability business is primarily due to better than expected claim development in terms of duration and net payments in the LTD business. All other lines, primarily life and other individual health products and including our medical stop-loss business in run-off, experienced favorable development in 2020 and 2019 that is primarily related to the group term life business due to continued improvements in experience. Specialty Health Segment The following tables provide undiscounted information about net incurred and paid claims development by accident year for significant short-duration contract liabilities for policy benefits and claims in our Specialty Health segment. All amounts are shown net of reinsurance. In addition, the tables present the total IBNR plus expected development on reported claims by accident year and the cumulative number of reported claims (in thousands, except number of reported claims). Refer to Note 1 for information on the methods we use to estimate IBNR plus expected development, as well as changes to those methodologies and assumptions. Five years of claims development data is presented for lines that are included in our Specialty Health segment since a majority of the claims are fully developed in that time. Certain information about incurred and paid claims is presented as supplementary information and unaudited where indicated. Specialty Health Segment –Claims Development December 31, 2020 Incurred Claims and Claim Adjustment Expenses, Net of Reinsurance Incurred But Cumulative For the years ended December 31, Not Reported Number of Accident 2016 2017 2018 2019 Plus Expected Reported Year (unaudited) (unaudited) (unaudited) (unaudited) 2020 Development Claims ( Actual ) 2016 $ 85,426 86,466 86,244 85,399 $ 85,759 $ 798 538,115 2017 87,070 77,214 77,194 77,379 611 631,101 2018 74,652 69,206 71,394 3,105 673,634 2019 82,926 76,032 4,512 652,408 2020 89,379 32,117 602,536 Total $ 399,943 Specialty Health Segment –Claims Development Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance For the years ended December 31, Accident 2016 2017 2018 2019 Year (unaudited) (unaudited) (unaudited) (unaudited) 2020 2016 $ 45,454 78,611 82,983 84,238 $ 84,961 2017 49,289 73,667 75,918 76,768 2018 46,574 64,947 68,289 2019 49,670 71,521 2020 57,262 Total $ 358,801 Outstanding policy benefits and claims payable before 2016, net of reinsurance 537 Total policy benefits and claims, net of reinsurance $ 41,679 The claim frequency information consists of the count of claims submitted. Each claim was counted as one claim whether or not multiple claim lines were submitted with that claim, and each claim was counted whether or not it resulted in a liability. For those portions of business that did not have claim records readily available, a reasonable count assumption was made based on a comparison to the known records of a similar business type. Cumulative claim count information is not a precise tool for calculating claim severity. Factors, such as changes in provider billing practices, the mix of services, benefit designs or processing systems could impact this type of analysis. The Company does not necessarily use the cumulative number of reported claims disclosed above in its claims analysis but has provided this information to comply with accounting standards. The following is supplementary information about the average historical policy claims duration for the Specialty Health segment as of December 31, 2020: Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Specialty Health Segment 62.3% 31.2% 4.2% 1.3% 0.8% Included in the preceding rollforwards of the Company’s liability for policy benefits and claims are the policy benefits and claims activity associated with the Company’s health insurance lines. These are embedded within the Specialty Health segment. The table below summarizes the components of the change in the liability for policy benefits and claims that are specific to health insurance claims for the years indicated (in thousands). Specialty Health Segment Health Insurance Claims 2020 2019 Balance at beginning of year $ 31,259 $ 26,068 Less: reinsurance recoverable 1,113 851 Net balance at beginning of year 30,146 25,217 Amount incurred, related to: Current year 38,602 51,479 Prior years (2,208) (3,517) Total incurred 36,394 47,962 Amount paid, related to: Current year 20,659 25,738 Prior years 19,352 17,295 Total paid 40,011 43,033 Net balance at end of period 26,529 30,146 Plus: reinsurance recoverable 1,766 1,113 Balance at end of period $ 28,295 $ 31,259 The $26,529,000 net balance of the Company’s health insurance claims liability at December 31, 2020 shown in the table above is all IBNR plus expected development on reported claims. Group Disability, Life, DBL and PFL Segment The following tables provide undiscounted information about net incurred and paid claims development by accident year for significant short-duration contract liabilities for policy benefits and claims related to our DBL, PFL and group disability policy claims (in thousands). All amounts are shown net of reinsurance. Refer to Note 1 for information on the methods we use to estimate IBNR plus expected development, as well as changes to those methodologies. One year of claims development data is presented below for our DBL and PFL claim liabilities as substantially all of the claims are developed in under one year. At December 31, 2020, the liability for IBNR plus expected development related to our DBL and PFL business was $34,819,000 and: (i) relates to the current accident year; and (ii) includes an accrued liability at December 31, 2020 for a potential risk adjustment payment of $24,000,000 associated with the PFL rider due to expected better than industry claims experience. Prior year favorable incurred development of $3,478,000, and amounts paid related to prior years of $18,971,000, were recognized during 2020 year on DBL and PFL business. While most of this is recognized in the first few months of the year, some of it is recognized during the remainder of the year due to the ability of claimants to take intermittent leave under the PFL benefits. The incurred claims and claim adjustment expenses, net, for the 2013 accident year include the acquisition of $15,384,000 of disability policy benefits and claims liabilities from a Receivership. Claim frequency information consists of the count of unique claims where a benefit has been paid, whether that benefit was paid for one month or multiple months. Any claims where a benefit has not been paid are not in the count. Cumulative claim count information is not a precise tool for calculating claim severity. Changes in reinsurance and other factors, such as those described in Note 1, could impact this type of analysis with regards to our group disability business. The Company does not necessarily use the cumulative number of reported claims disclosed above in its claims analysis but has provided this information to comply with accounting standards. Unpaid claim liabilities related to our group disability policies is presented at present value. The following is additional information on unpaid claims liabilities presented at present value (in thousands): Carrying Value of Aggregate Amount Unpaid Claim Liabilities of Discount December 31, December 31 2020 2019 2020 2019 Group disability $ 58,504 $ 56,756 $ 9,780 $ 10,382 Discount rates for each of the years ended December 31, 2020 and 2019 ranged from 2.5% to 6.0%. Insurance benefits, claims and reserves on the Consolidated Statements of Income for the years ended December 31, 2020 and 2019 include the accretion of interest amounting to $1,448,000 and $1,524,000, respectively. The following is supplementary information about the average historical claims duration for our group disability business as of December 31, 2020: Group Disability Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 16.7% 18.1% 5.8% 2.7% 2.0% 1.8% 1.4% 0.9% 0.6% 0.4% The following table reconciles the above disclosures of undiscounted net incurred and paid claims development for significant short-duration contract liabilities to the liability for policy benefits and claims on the consolidated balance sheet (in thousands). December 31, 2020 Net outstanding balances: Specialty Health Segment $ 41,679 DBL/PFL 34,819 Group disability 68,284 Other short-duration insurance lines 7,827 Policy benefits and claims, net of reinsurance 152,609 Reinsurance recoverable on unpaid claims: Specialty Health Segment 1,776 DBL/PFL 430 Group disability 22,472 Other short-duration insurance lines 11,448 Reinsurance recoverable on unpaid claims 36,126 Insurance lines other than short-duration 277 Aggregate discount (9,780) Total policy benefit and claims $ 179,232 |
Income Tax Disclosure _Text Blo
Income Tax Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Income Tax Disclosure | Note 13. Income Taxes IHC and its subsidiaries file a consolidated Federal income tax return on a June 30 fiscal year. The provision for income tax expense (benefit) attributable to income from continuing operations, as shown in the Consolidated Statements of Income, is as follows for the years indicated (in thousands): 2020 2019 CURRENT: U.S. Federal $ 6,544 $ 4,498 State and Local 250 729 6,794 5,227 DEFERRED: U.S. Federal 5,052 8,334 State and Local (1,114) (902) 3,938 7,432 $ 10,732 $ 12,659 Taxes computed at the Federal statutory rate of 21% attributable to pretax income for the years ended December 31, 2020 and 2019, respectively, are reconciled to the Company's actual income tax expense (benefit) as follows for the years indicated (in thousands): 2020 2019 Tax computed at the statutory rate $ 6,269 $ 5,323 Dividends received deduction and tax exempt interest (132) (128) State and local income taxes, net of Federal effect (683) (132) Executive compensation limit 456 583 Multistate RSAs 776 - AMIC valuation allowance adjustment 4,492 7,900 Share-based compensation (75) (993) Other, net (371) 106 Income tax expense (benefit) $ 10,732 $ 12,659 In 2020 and 2019, the Company increased AMIC’s valuation allowance by $4,492,000 and $7,900,000, respectively, to reflect decreases in projected income and associated utilization of Federal net operating losses. This is largely due to the reorganization of the Specialty Health segment into specialty health and pet divisions, and the expansion of our D2C and tech-enabled operations, which reduced expected income over the remaining period that AMIC’s net operating loss carryforwards are available to offset income. Temporary differences between the Consolidated Financial Statement carrying amounts and tax bases of assets and liabilities that give rise to the deferred tax assets and liabilities at December 31, 2020 and 2019 are summarized below (in thousands). The net deferred tax asset or liability is included in Other Assets or Other Liabilities, as appropriate, in the Consolidated Balance Sheets. 20 20 201 9 DEFERRED TAX ASSETS: Investment write-downs $ 48 $ 48 Loss carryforwards 9,361 23,612 Capital loss carryforward 677 - Other 5,984 3,323 Total gross deferred tax assets 16,070 26,983 Less AMIC valuation allowance (8,281) (17,212) Net deferred tax assets 7,789 9,771 DEFERRED TAX LIABILITIES: Insurance reserves (2,309) (2,459) Goodwill and intangible assets (2,324) (2,341) Unrealized gains on investment securities (1,145) (338) Other (2,015) (688) Total gross deferred tax liabilities (7,793) (5,826) Net deferred tax asset (liability) $ (4) $ 3,945 At December 31, 2020, AMIC and its subsidiaries have available Federal net operating loss carryforwards of approximately $46,669,000 that primarily expire in 2021 and are limited in their utilization to future taxable income earned on a separate company basis. At December 31, 2019, AMIC and its subsidiaries had Federal net operating loss carryforwards of approximately $114,531,000, a significant portion of which expired in 2020, and were limited in their utilization to future taxable income earned on a separate company basis. AMIC’s valuation allowance at December 31, 2020 and 2019 is related to net operating loss carryforwards that, in the judgment of management, were not considered realizable. IHC and its subsidiaries, excluding AMIC and its subsidiaries, considered the reversal of deferred tax liabilities and projected future taxable income in determining that a valuation allowance was not necessary on their deferred tax assets at December 31, 2020 or 2019. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Management believes that it is more likely than not that IHC and its subsidiaries, including AMIC and its subsidiaries, will realize the benefits of these net deferred tax assets recorded at December 31, 2020. As of December 31, 2020, IHC and its subsidiaries, and AMIC and its subsidiaries, believe there were no material uncertain tax positions that would require disclosure under U.S. GAAP. Interest expense and penalties for the years ended December 31, 2020 and 2019 are insignificant. Tax years ending June 30, 2017 and forward are subject to examination by the Internal Revenue Service. The Company’s 2015 and 2016 income tax returns are currently under audit by the New York State Department of Taxation and Finance. Net cash payments for income taxes were $505,000 and $966,000 in 2020 and 2019, respectively. On March 27, 2020, as part of the business stimulus package in response to the COVID-19 pandemic, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security ("CARES") Act. The CARES Act established new tax provisions including, but not limited to: (1) five-year carryback of net operating losses generated in 2018, 2019 and 2020; (2) accelerated refund of alternative minimum tax (AMT) credit carryforwards; and (3) retroactive changes to allow accelerated depreciation for certain depreciable property. At this time, the legislation does not have a material impact on the Company due to the lack of taxable losses in the stated carryback eligible tax years and the fact that the Company was already expecting to receive a cash benefit for the remaining AMT credits in the fiscal 2018 tax year return. |
Stockholders' Equity Note Discl
Stockholders' Equity Note Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Stockholders' Equity Note Disclosure | Note 14. Stockholders’ Equity Treasury Stock IHC maintains a program of repurchasing shares of its common stock when the Company deems feasible. In August 2016, the Board of Directors increased the number of shares that can be repurchased to 3,000,000 shares of IHC common stock. At December 31, 2020, there were 1,538,991 shares still authorized to be repurchased under the plan authorized by the Board of Directors. In 2020, the Company repurchased 244,487 shares of its common stock for an aggregate cost of $7,534,000 and of that amount, 36,377 shares were repurchased pursuant to the terms of a tender offer for an aggregate cost of $982,000. In 2019, the Company repurchased 108,646 shares of its common stock for an aggregate cost of $4,051,000. The Company issued 22,593 and 95,339 shares from treasury stock in 2020 and 2019, respectively, as a result of option exercises and the vesting of restricted stock units during the period. Accumulated Other Comprehensive Income (Loss) Other comprehensive income (loss) includes the after-tax net unrealized gains and losses on fixed maturities available-for-sale, including the subsequent increases and decreases in fair value of fixed maturities available-for-sale securities previously impaired and the non-credit related component of other-than-temporary impairments of fixed maturities. Changes in the balances for each component of accumulated other comprehensive income (loss), shown net of taxes, for the years indicated were as follows (in thousands): 2020 2019 Beginning balance $ $ (8,310) Other comprehensive income (loss): Other comprehensive income (loss) before reclassifications 12,246 Less amounts reclassified from accumulated OCI (2,724) Net other comprehensive income (loss) 9,522 Ending balance $ $ 1,212 Presented below are the amounts reclassified out of accumulated other comprehensive income (loss) and recognized in earnings for each of the years indicated (in thousands): 2020 2019 Unrealized gains (losses) on available-for-sale securities reclassified during the period to the following income statement line items: Net investment gains (losses) $ 742 $ 4,105 Net impairment losses recognized in earnings - (646) Income (loss) before income tax 742 3,459 Tax effect 155 735 Net income (loss) $ 587 $ 2,724 |
Compensation and Employee Benef
Compensation and Employee Benefit Plans [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Compensation and Employee Benefit Plans | Note 15. Share-Based Compensation In November 2016, the stockholders approved the Independence Holding Company 2016 Stock Incentive Plan and in November 2020 approved amendments to that plan (the”2016 Plan, as amended”). The 2016 Plan, as amended, permits grants of options, SARs, restricted shares, restricted share units, unrestricted shares, deferred share units and performance awards. Under the terms of the 2016 Plan, as amended: (i) the exercise price of an option may not be less than the fair market value of an IHC share on the grant date and the terms of an option may not exceed 10 years from the grant date; and (ii) the exercise price of a SAR may not be less than the fair market value of an IHC share on the grant date and SAR terms may not exceed 10 years from the date of grant. The fair value of an option award is estimated on the date of grant using the Black-Scholes option valuation model. In general, the vesting period for an option grant is 3 years. Restricted share units are valued at the quoted market price of the shares at the date of grant and generally vest over 3 years. Compensation costs for options and restricted share units are recognized over the stated vesting periods on a straight-line basis. The fair value of a SAR is calculated using the Black-Scholes valuation model at the grant date and each subsequent reporting period until settlement. Compensation cost is based on the proportionate amount of the requisite service that has been rendered to date. Once fully vested, changes in the fair value of a SAR continue to be recognized as compensation expense in the period of the change until settlement. The Company accounts for forfeitures of share-based compensation awards in the period that they occur. At December 31, 2020, there were 368,599 shares available for future stock-based compensation grants under the 2016 Plan, as amended. The following table summarizes share-based compensation expense, which is included in selling, general and administrative expenses on the Consolidated Statements of Income, applicable to the IHC plans (by award type) for each of the years indicated (in thousands): 2020 2019 IHC’s Share-based Compensation Plan: Stock options $ 1,754 $ 1,940 Restricted stock units 358 292 SARs 262 442 Share-based compensation expense, pre-tax 2,374 2,674 Tax benefits 639 720 Share-based compensation expense, net $ 1,735 $ 1,954 Stock Options The Company’s stock option activity during 2020 was as follows: Shares Weighted- Average Under Option Exercise Price December 31, 2019 785,047 $ 31.54 Granted 25,000 40.20 Exercised (23,667) 20.20 December 31, 2020 786,380 $ 32.16 The weighted average grant-date fair-values of options granted during the years ended December 31, 2020 and 2019 were $9.31 and $8.31, respectively. The assumptions set forth in the table below were used to value the stock options granted during the periods indicated: 2020 2019 Weighted-average risk-free interest rate 0.24% 2.32% Expected annual dividend rate per share 1.32% 1.22% Expected volatility factor of the Company's common stock 34.17% 28.97% Weighted-average expected term of options 3.5 years 3.5 years In 2020, IHC received $179,000 in cash from the exercise of stock options with an aggregate intrinsic value of $374,000 and recognized $63,000 of tax benefits. Cash outflows in 2020 to satisfy employees’ income tax withholding obligations amounted to $81,000 for option exercises that were net settled in IHC shares. In 2019, IHC received $269,000 in cash from the exercise of stock options with an aggregate intrinsic value of $5,207,000 and recognized $970,000 of tax benefits. Cash outflows in 2019 to satisfy employees’ income tax withholding obligations amounted to $2,397,000 for option exercises that were net settled in IHC shares. The following table summarizes information regarding options outstanding and exercisable: December 31, 2020 Outstanding Exercisable Number of options 786,380 469,130 Weighted average exercise price per share $ 32.16 $ 28.55 Aggregate intrinsic value for all options (in thousands) $ 6,952 $ 5,839 Weighted average contractual term remaining 1.6 years 1.5 years At December 31, 2020, the total unrecognized compensation cost related to IHC’s non-vested stock options was $1,441,000 and it is expected to be recognized as compensation expense over a weighted average period of 1.1 years. Restricted Stock The Company’s restricted stock activity during 2020 was as follows: No. of Weighted-Average Non-vested Grant-Date Shares Fair Value December 31, 2019 19,800 $ 37.54 Granted 9,900 42.62 Vested (9,900) 35.57 December 31, 2020 19,800 $ 41.06 IHC granted 9,900 restricted stock units during each of the years ended December 31, 2020 and 2019 with weighted-average grant-date fair values of $42.62 and $40.01 per share, respectively. The total fair value of restricted stock units that vested in 2020 and 2019 was $352,000 and $389,000, respectively. At December 31, 2020, the total unrecognized compensation cost related to non-vested restricted stock unit awards was $763,000 which is expected to be recognized as compensation expense over a weighted average period of 2.2 years. SARs and Share-Based Performance Awards IHC had 64,900 SAR awards outstanding at both December 31, 2020 and 2019. No SAR awards were granted or exercised in either 2020 or 2019. Included in Other Liabilities in the Company’s Consolidated Balance Sheets at December 31, 2020 and December 31, 2019 are liabilities of $979,000 and $717,000, respectively, pertaining to SARs. |
Contingencies Disclosure _Text
Contingencies Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Contingencies Disclosure | Note 16. Contingencies Third Party Administrator A third party administrator with whom we formerly did business (“Plaintiff” or “TPA”) commenced an action on May 17, 2017 in the United States District Court, Northern District of Texas, Dallas Division (the “Texas Action”), naming IHC, Madison National Life, Standard Security Life, and Independence Brokerage Group, Inc. (formerly IHC Carrier Solutions, Inc.) as defendants (“Defendants”). In the action, which is currently stayed, the Plaintiff seeks contractual payments allegedly owed by Standard Security Life and Madison National Life totaling at least $3,082,000 through 2014, plus additional amounts for 2015 and 2016, and exemplary and punitive damages as allowed by law and fees and costs. During the stay, two arbitrations involving the same parties proceeded. The first arbitration resulted in a judicially-confirmed award in favor of Standard Security Life and Madison National Life in the amount of $5,641,000, which the Plaintiff has satisfied. The Company received payment on September 9, 2020 and recorded it in other income on the Consolidated Statement of Income in the third quarter. The second arbitration resulted in no monetary obligations owed by any of the parties. The Defendants have not had to file an answer in the Texas Action. At the point they do have to file an answer to the Complaint, they will assert a variety of defenses, set-offs and counterclaims. Multistate Market Conduct Examination (MCE) As previously disclosed, our subsidiaries Standard Security Life, Madison National Life and Independence American Insurance Company were selected for MCE related to our STM, limited medical and fixed indemnity limited health insurance products for the period of January 1, 2014 through September 30, 2017. The insurance departments of five jurisdictions (Delaware, Wisconsin, District of Columbia, Kansas and South Dakota) served as lead states, and the District of Columbia Department of Insurance, Securities and Banking and the Delaware Department of Insurance served as the managing lead states of the MCE. In addition to the five lead states, 37 other states participated in the MCE. Each of Standard Security Life, Madison National Life and Independence American Insurance Company responded to inquiries and document production requests in the MCE and proactively communicated and cooperated with the applicable regulatory agencies for the MCE. Each of these subsidiaries also provided a detailed action plan to regulators that summarized its enhanced compliance and control mechanisms. In an effort to avoid long‐term litigation and/or administrative proceedings that would be required to resolve disputes between Standard Security Life, Madison National Life and Independence American Insurance Company and the states involved in the MCE, the Lead States and Standard Security Life, Madison National Life and Independence American Insurance Company entered into separate RSAs on July 14, 2020. The RSAs require the implementation of a compliance plan, impose certain requirements related to specified business practices and monetary payments. The thirty-seven participating states adopted the RSAs. The Company accrued $3,660,000 in accounts payable, accruals and other liabilities on the Consolidated Balance Sheet in the second quarter and processed payment in October 2020. As set forth in the RSAs, the Company denies any wrongdoing or violation of any applicable laws or regulations, and the entry into the RSAs is not an admission or acknowledgment by the Company of any wrongdoing or liability. |
Concentration Risk Disclosure _
Concentration Risk Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Concentration Risk Disclosure | Note 17. Concentration of Credit Risk At December 31, 2020, 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 carrying values of $13,763,000 and $13,359,000 were on deposit with various state insurance departments at December 31, 2020 and 2019, respectively. At December 31, 2020, the Company had reinsurance recoverable from the following reinsurers that individually exceed 10% of stockholders’ equity (in thousands): AM Best Due from Reinsurer Rating Reinsurer National Guardian Life Insurance Company A- $ 214,687 Guggenheim Life and Annuity Company B++ 91,819 The Company believes that these receivables are fully collectible. |
Dividend Payment Restrictions _
Dividend Payment Restrictions [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Dividend Payment Restrictions | Note 18. Dividend Payment Restrictions and Statutory Information Our insurance subsidiaries are restricted by state laws and regulations as to the amount of dividends they may pay to their parent without regulatory approval in any year. Any dividends in excess of limits are deemed “extraordinary” and require approval. Based on statutory results as of December 31, 2020, in accordance with applicable dividend restrictions, our insurance subsidiaries could pay dividends of approximately $27,872,000 in 2021 without obtaining regulatory approval. There are no regulatory restrictions on the ability of our holding company, IHC, to pay dividends. Under Delaware law, IHC is permitted to pay dividends from surplus or net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. Dividends to shareholders are paid from funds available at the corporate holding company level. Non-“extraordinary” dividend payments were as follows: (i) Madison National Life declared and paid cash dividends of $8,300,000 and $0 to its parent in 2020 and 2019, respectively; (ii) Standard Security Life declared and paid dividends of $5,200,000 and $0 to its parent in 2020 and 2019, respectively; and (iii) Independence American Insurance Company declared and paid dividends of $10,000,000 and $18,000,000 to its parent in 2020 and 2019, respectively. IHC declared cash dividends of $0.44 per share or $6,472,000 in 2020 and $0.40 per share or $5,963,000 in 2019. In 2019, upon receiving regulatory approvals, our insurance subsidiaries declared and paid extraordinary statutory dividends aggregating $165,472,000 to their parent company. The extraordinary dividends consisted of cash and the common and preferred shares issued by their affiliate, Madison Investors Corp., a wholly owned subsidiary of the Company. There were no such extraordinary statutory dividends declared or paid by our insurance subsidiaries in 2020 The Company’s insurance subsidiaries are required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of their state of domicile. Statutory accounting practices differ from U.S. GAAP in several respects causing differences in reported net income and stockholder’s equity. The Company’s insurance subsidiaries have no permitted accounting practices, which encompass all accounting practices not so prescribed that have been specifically allowed by the state insurance authorities. The statutory net income and statutory capital and surplus for each of the Company’s insurance subsidiaries are as follows for the periods indicated (in thousands): Years Ended December 31, 2020 2019 Statutory net income: Madison National Life $ 14,360 $ 16,460 Standard Security Life 12,902 5,246 Independence American Insurance Company 13,354 19,030 December 31, 2020 2019 Statutory capital and surplus: Madison National Life $ 86,105 $ 83,256 Standard Security Life 64,604 57,069 Independence American Insurance Company 88,204 84,533 The insurance subsidiaries are also required to maintain certain minimum amounts of statutory surplus to satisfy their various state insurance departments of domicile. Risk-based capital (“RBC”) requirements are designed to assess capital adequacy and to raise the level of protection that statutory surplus provides for policyholders. At December 31, 2020 and 2019, the statutory capital of our insurance subsidiaries is significantly in excess of their regulatory RBC requirements. |
Segment Reporting Disclosure _T
Segment Reporting Disclosure [Text Block] | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Segment Reporting Disclosure | Note 19. Segment Reporting The Insurance Group principally engages in the health, pet and life insurance business. Interest expense, taxes, and general expenses associated with parent company activities are included in Corporate. Identifiable assets by segment are those assets that are utilized in each segment and are allocated based upon the mean reserves and liabilities of each such segment. Corporate assets are composed principally of cash equivalents, resale agreements, fixed maturities, equity securities, partnership interests and certain other investments. Information by business segment is presented below for the years indicated (in thousands). 2020 2019 Revenues: Specialty Health (A) $ 224,101 $ 193,823 Group disability, life, DBL and PFL 214,769 169,038 Individual life, annuities and other (B) 2,411 1,675 Corporate 1,237 5,853 442,518 370,389 Net investment gains (losses) 1,346 4,705 Net impairment losses recognized in earnings - (646) Total revenues $ 443,864 $ 374,448 Income before income taxes Specialty Health (A) (C) (D) $ 4,322 $ 7,757 Group disability, life, DBL and PFL 33,156 21,809 Individual life, annuities and other (B) (E) 74 (1,129) Corporate (9,048) (7,148) 28,504 21,289 Net investment gains (losses) 1,346 4,705 Net impairment losses recognized in earnings - (646) Income before income taxes $ 29,850 $ 25,348 (A) (B) (C) (D) (E) December 31, 2020 2019 IDENTIFIABLE ASSETS AT YEAR END Specialty Health $ 235,925 $ 223,679 Group disability, life, DBL and PFL 349,263 324,139 Individual life, annuities and other 340,494 361,466 Corporate 157,474 145,019 $ 1,083,156 $ 1,054,303 |
Summary of Investments, Other t
Summary of Investments, Other than Investments in Related Parties | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Summary of Investments, Other than Investments in Related Parties | SCHEDULE I INDEPENDENCE HOLDING COMPANY AND SUBSIDIARIES SUMMARY OF INVESTMENTS – OTHER THAN INVESTMENTS IN RELATED PARTIES DECEMBER 31, 2020 (In thousands) AMOUNT SHOWN IN BALANCE TYPE OF INVESTMENT COST VALUE SHEET FIXED MATURITIES - AVAILABLE-FOR-SALE: Bonds: United States Government and Government agencies and authorities $ 56,223 $ 56,893 $ 56,893 States, municipalities and political subdivisions 159,421 161,960 161,960 Foreign governments 4,907 5,178 5,178 Public utilities 28,008 28,967 28,967 All other corporate bonds 152,748 153,651 153,651 TOTAL FIXED MATURITIES 401,307 406,649 406,649 EQUITY SECURITIES: Common stocks: Industrial, miscellaneous and all other 2,612 3,411 3,411 Non-redeemable preferred stocks 2,637 2,708 2,708 TOTAL EQUITY SECURITIES 5,249 6,119 6,119 Short-term investments and resale agreements 52,624 52,624 52,624 Other long-term investments 10,707 8,238 8,238 TOTAL INVESTMENTS $ 469,887 $ 473,630 $ 473,630 |
Condensed Financial Information
Condensed Financial Information of Parent Company Only Disclosure | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Condensed Financial Information of Parent Company Only Disclosure | SCHEDULE II INDEPENDENCE HOLDING COMPANY CONDENSED BALANCE SHEETS (In thousands, except share data) (PARENT COMPANY ONLY) DECEMBER 31, 2020 2019 ASSETS: Cash and cash equivalents $ 10,852 $ 895 Securities purchased under agreements to resell 14,780 39,438 Fixed maturities, available-for-sale 20,324 3,260 Investments in consolidated subsidiaries 435,376 428,014 Income tax receivable 11,389 9,307 Deferred tax asset, net 1,157 1,517 Other assets 821 461 TOTAL ASSETS $ 494,699 $ 482,892 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES: Accounts payable and other liabilities $ 12,684 $ 11,491 Amounts due to consolidated subsidiaries, net 6,596 6,449 Dividends payable 3,301 3,003 TOTAL LIABILITIES 22,581 20,943 Redeemable noncontrolling interest 2,312 2,237 STOCKHOLDERS' EQUITY: Preferred stock (none issued) (A) - - Common stock (B) 18,625 18,625 Paid-in capital 124,757 122,717 Accumulated other comprehensive loss 4,197 1,212 Treasury stock, at cost (C) (77,088) (69,724) Retained earnings 399,273 386,864 TOTAL IHC’S STOCKHOLDERS' EQUITY 469,764 459,694 NONREDEEMABLE NONCONTR OLLING INTERESTS 42 18 TOTAL EQUITY 469,806 459,712 TOTAL LIABILITIES AND EQUITY $ 494,699 $ 482,892 (A) (B) (C) The financial information of Independence Holding Company (Parent Company Only) should be read in conjunction with the Consolidated Financial Statements and Notes thereto. SCHEDULE II (Continued) INDEPENDENCE HOLDING COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (In thousands) (PARENT COMPANY ONLY) 2020 2019 REVENUES: Net investment income $ 459 $ 738 Net investment gains (losses) (19) 130 Other income (loss) (150) 1,461 290 2,329 EXPENSES: General and administrative expenses 8,694 9,352 8,694 9,352 Loss before income tax benefits and equity in net income of subsidiaries (8,404) (7,023) Equity in net income of subsidiaries 26,138 19,061 Income before income tax benefits 17,734 12,038 Income tax (benefits) (1,384) (651) Net income 19,118 12,689 Less income from noncontrolling interests in subsidiaries (237) (293) Net income attributable to IHC $ 18,881 $ 12,396 Comprehensive Income: Net income $ 19,118 $ 12,689 Other comprehensive income (loss), net of tax: Unrealized gains (losses) on available-for-sale securities (80) 164 Equity in unrealized gains (losses) on available-for-sale securities of subsidiaries 3,065 9,358 Other comprehensive income (loss), net of tax 2,985 9,522 Comprehensive income, net of tax 22,103 22,211 Less: comprehensive income attributable to noncontrolling interests (237) (293) Comprehensive income, net of tax, attributable to IHC $ 21,866 $ 21,918 The financial information of Independence Holding Company (Parent Company Only) should be read in conjunction with the Consolidated Financial Statements and Notes thereto. SCHEDULE II (Continued) INDEPENDENCE HOLDING COMPANY CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (PARENT COMPANY ONLY) 2020 2019 CASH FLOWS PROVIDED BY (USED BY) OPERATING ACTIVITIES: Net income $ 19,118 $ 12,689 Adjustments to net income: Equity in net income of subsidiaries (26,138) (19,061) Other 4,105 3,247 Change in current income tax liability (A) (2,082) (17,793) Changes in other assets and liabilities (503) (48) Net change in cash from operating activities (5,500) (20,966) CASH FLOWS PROVIDED BY (USED BY) INVESTING ACTIVITIES: Change in investments in and advances to subsidiaries (B) 21,848 34,544 Net purchases of securities under agreements to resell 24,658 (39,438) Purchases of fixed maturities (28,693) (1,154) Sales of fixed maturities - 8,432 Maturities and other repayments of fixed maturities 11,284 28,193 Other 18 - Net change in cash from investing activities 29,115 30,577 CASH FLOWS PROVIDED BY (USED BY) FINANCING ACTIVITIES: Repurchases of common stock (7,534) (4,057) Dividends paid (6,222) (5,231) Proceeds from stock options exercised 179 269 Payments related to tax withholdings for share-based compensation (81) (2,397) Net change in cash from financing activities (13,658) (11,416) Net change in cash and cash equivalents 9,957 (1,805) Cash and cash equivalents, beginning of year (C) 895 2,700 Cash and cash equivalents, end of year (C) $ 10,852 $ 895 (A) (B) (C) The financial information of Independence Holding Company (Parent Company Only) should be read in conjunction with the Consolidated Financial Statements and Notes thereto. |
Supplementary Insurance Informa
Supplementary Insurance Information, for Insurance Companies Disclosure | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Supplementary Insurance Information, for Insurance Companies Disclosure | SCHEDULE III INDEPENDENCE HOLDING COMPANY SUPPLEMENTARY INSURANCE INFORMATION (in thousands) FUTURE POLICY INSURANCE AMORTIZATION SELLING DEFERRED BENEFITS, NET NET BENEFITS, OF DEFERRED GENERAL & NET ACQUISITION LOSSES & UNEARNED PREMIUMS INVESTMENT CLAIMS & ACQUISTION ADMINISTRATIVE PREMIUMS COSTS (1) CLAIMS PREMIUMS EARNED INCOME ( 2 ) RESERVES COSTS (1) EXPENSES ( 3) WRITTEN December 31, 2020 Specialty Health $ - 43,632 6,063 190,755 2,617 84,219 - 135,560 $ 193,710 Group disability, life, DBL and PFL - 160,245 6,553 206,712 7,111 123,263 - 58,350 209,246 Individual life, annuities and other - 314,817 173 63 898 735 - 1,602 63 Corporate - - - - 1,151 - - 10,285 - $ - 518,694 12,789 397,530 11,777 208,217 - 205,797 $ 403,019 December 31, 2019 Specialty Health $ - 42,495 3,110 177,991 4,330 75,539 - 110,527 $ 177,438 Group disability, life, DBL and PFL - 146,080 4,000 160,702 7,774 97,335 - 49,894 162,972 Individual life, annuities and other - 318,383 172 48 1,300 1,247 - 1,557 48 Corporate - - - - 2,239 - - 13,001 - $ - 506,958 7,282 338,741 15,643 174,121 - 174,979 $ 340,458 (1) (2) (3) |
Supplemental Schedule of Reinsu
Supplemental Schedule of Reinsurance Premiums for Insurance Companies | 12 Months Ended |
Dec. 31, 2020 | |
Notes | |
Supplemental Schedule of Reinsurance Premiums for Insurance Companies | SCHEDULE IV INDEPENDENCE HOLDING COMPANY REINSURANCE (In thousands) PERCENTAGE ASSUMED CEDED OF AMOUNT GROSS FROM OTHER TO OTHER NET ASSUMED AMOUNT COMPANIES COMPANIES AMOUNT TO NET Life Insurance In-Force December 31, 2020 $ 15,534,807 $ 6,003 $ 4,842,171 $ 10,698,639 0.1% December 31, 2019 $ 14,935,361 $ 6,298 $ 6,553,251 $ 8,388,408 0.1% Premiums Earned December 31, 2020 Accident and health $ 305,032 $ 7 $ 23,741 $ 281,298 0.0% Life and annuity 55,771 756 27,163 29,364 2.6% Property and liability (1) 86,876 - 8 86,868 0.0% $ 447,679 $ 763 $ 50,912 $ 397,530 0.2% December 31, 2019 Accident and health $ 287,529 $ 5 $ 22,538 $ 264,996 0.0% Life and annuity 54,825 998 33,061 22,762 4.4% Property and liability (1) 51,046 - 63 50,983 0.0% $ 393,400 $ 1,003 $ 55,662 $ 338,741 0.3% (1) |
Organization, Consolidation, _2
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Basis of Accounting, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Basis of Accounting, Policy | The Consolidated Financial Statements have been prepared in conformity with U.S. GAAP and include the accounts of IHC and its consolidated subsidiaries. All significant intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect: (i) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements; and (ii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In March 2020, the World Health Organization declared the outbreak of COVID-19 a global health pandemic and the United States declared a national health emergency. COVID-19 has led to large scale disruption in the global economy, market instability and widespread unemployment in the United States. The COVID-19 outbreak is a fluid situation and as it evolves, the duration of COVID-19 and its potential effects on our business cannot be certain. Regulatory mandates have affected, and we anticipate will continue to impact, the insurance industry. We currently cannot predict if there will be a material impact to our business, results of operations or financial condition in future reporting periods. Consequently, future changes in market conditions may impact estimates used in the preparation of our financial statements associated with evaluations of goodwill and other intangible assets for impairment, estimates associated with the determination of valuation allowances related to net operating loss carryforwards, and estimates of certain losses under insurance contracts. These estimates may all be subject to substantial adjustments in future periods. In addition, volatile market conditions may result in further declines in the fair value of our investment portfolio and possible impairments of certain securities. |
Organization, Consolidation, _3
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Reclassification, Policy [Policy Text Block] (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Reclassification, Policy | Certain amounts in prior year’s consolidated financial statements and Notes thereto have been reclassified to conform to the 2020 presentation. |
Organization, Consolidation, _4
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Cash and Cash Equivalents, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Cash and Cash Equivalents, Policy | Cash equivalents are carried at cost which approximates fair value, and include principally interest-bearing deposits at brokers, money market instruments and U.S. Treasury securities with original maturities of less than 91 days. Investments with original maturities of 91 days to one year are considered short-term investments and are carried at cost, which approximates fair value. |
Organization, Consolidation, _5
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Repurchase and Resale Agreements Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Repurchase and Resale Agreements Policy | Securities purchased under agreements to resell ("resale agreements") are carried at the amounts at which the securities will be subsequently resold as specified in the agreements. Resale agreements are utilized to invest excess funds on a short-term basis. At December 31, 2020, the Company had $49,990,000 invested in resale agreements, all of which settled on January 4 , |
Organization, Consolidation, _6
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Investment, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Investment, Policy | (G) Investment Securities (i) (a) (b) (ii) (iii) (iv) The Company periodically reviews and assesses the vendor’s qualifications and the design and appropriateness of its pricing methodologies. Management will on occasion challenge pricing information on certain individual securities and, through communications with the vendor, obtain information about the assumptions, inputs and methodologies used in pricing those securities, and corroborate it against documented pricing methodologies. Validation procedures are in place to determine completeness and accuracy of pricing information, including, but not limited to: (i) review of exception reports that (a) identify any zero or un-priced securities; (b) identify securities with no price change; and (c) identify securities with significant price changes; (ii) performance of trend analyses; (iii) periodic comparison of pricing to alternative pricing sources; and (iv) comparison of pricing changes to expectations based on rating changes, benchmarks or control groups. In certain circumstances, pricing is unavailable from the vendor and broker-pricing information is used to determine fair value. In these instances, management will assess the quality of the data sources, the underlying assumptions and the reasonableness of the broker quotes based on the current market information available. To determine if an exception represents an error, management will often have to exercise judgment. Procedures to resolve an exception vary depending on the significance of the security and its related class, the frequency of the exception, the risk of material misstatement, and the availability of information for the security. These procedures include, but are not limited to; (i) a price challenge process with the vendor; (ii) pricing from a different vendor; (iii) a reasonableness review; and (iv) a change in price based on better information, such as an actual market trade, among other things. Management considers all facts and relevant information obtained during the above procedures to determine the proper classification of each security in the Fair Value Hierarchy. (v) In assessing corporate debt securities for other-than-temporary impairment, the Company evaluates the ability of the issuer to meet its debt obligations and the value of the company or specific collateral securing the debt position. For mortgage-backed securities where loan level data is not available, the Company uses a cash flow model based on the collateral characteristics. Assumptions about loss severity and defaults used in the model are primarily based on actual losses experienced and defaults in the collateral pool. Prepayment speeds, both actual and estimated, are also considered. The cash flows generated by the collateral securing these securities are then determined with these default, loss severity and prepayment assumptions. These collateral cash flows are then utilized, along with consideration for the issue’s position in the overall structure, to determine the cash flows associated with the mortgage-backed security held by the Company. In addition, the Company evaluates other asset-backed securities for other-than-temporary impairment by examining similar characteristics referenced above for mortgage-backed securities. The Company evaluates U.S. Treasury securities and obligations of U.S. Government corporations, U.S. Government agencies, and obligations of states and political subdivisions for other-than-temporary impairment by examining the terms and collateral of the security. For the purpose of other-than-temporary impairment evaluations, redeemable preferred stocks are evaluated in a manner similar to debt securities. Subsequent increases and decreases, if not an other-than-temporary impairment, in the fair value of fixed maturities available-for-sale that were previously impaired, are recorded in other comprehensive income (loss). In certain circumstances, due to cash flow requirements, market conditions or changes in the condition of a specific security, the Company may deem it prudent to sell a security before the anticipated recovery of its remaining amortized cost basis. (H) Other Investments Other investments primarily include equity investments without readily determinable fair values which are carried at their cost minus impairment, if any. Impairment indicators the Company may consider in its evaluation of whether an impairment exists include, but are not limited to: (i) significant deterioration in earnings or performance of the investee; (ii) significant adverse changes in market, regulatory or economic conditions; (iii) a bona fide offer to purchase, or an offer by the investee to sell, for an amount less than the carrying amount of the investment; and (iv) factors that raise concerns about the investee’s ability to continue as a going concern. Dividends received from equity investments carried at cost are recognized in earnings. Other investments also consist of limited partnership interests carried on the equity method, which approximates the Company's equity in the underlying net assets of the partnership. Equity income or loss on partnership interests is credited or charged, as appropriate, to the Consolidated Statements of Income. Decreases in investment values are evaluated to determine if factors indicate the decrease is other than temporary. Evidence of a loss in value might include, but is not limited to, the absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Impairment losses on equity method investments are recognized in the Consolidated Statements of Income in the period when evidence indicates a decrease in the value of the investment has occurred that is other than temporary. |
Organization, Consolidation, _7
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Property, Plant and Equipment, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Property, Plant and Equipment, Policy | Improvements are capitalized while repair and maintenance costs are charged to operations as incurred. Depreciation of property and equipment has been provided on the straight-line method over the estimated useful lives of the respective assets. Amortization of leasehold improvements has been provided on the straight-line method over the shorter of the lease term or the estimated useful life of the asset. Any impairment of long-lived assets would be charged to expense. The Company had no impairments of long-lived assets in either 2020 or 2019. |
Organization, Consolidation, _8
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Goodwill and Intangible Assets, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Goodwill and Intangible Assets, Policy | Goodwill carrying amounts are evaluated for impairment, at least annually on December 31 each year, at the reporting unit level that is equivalent to an operating segment or one level below an operating segment, referred to as a component. If the fair value of a reporting unit is less than its carrying amount, further evaluation is required to determine if a write-down of goodwill is required. In determining the fair value of each reporting unit, we used an income approach, applying a discounted cash flow method that included a residual value. Based on historical experience, we make assumptions as to: (i) expected future performance and future economic conditions, (ii) projected operating earnings, (iii) projected new and renewal business as well as profit margins on such business, and (iv) a discount rate that incorporated an appropriate risk level for the reporting unit. Any impairment of goodwill would be charged to expense. Other intangible assets are amortized to expense over their estimated useful lives and are subject to impairment testing. Any impairment of other intangible assets would be charged to expense. |
Organization, Consolidation, _9
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Unpaid Policy Claims and Claims Adjustment Expense, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Unpaid Policy Claims and Claims Adjustment Expense, Policy | Policy Benefits and Claims The Company maintains loss reserves to cover its estimated liability for unpaid losses and loss adjustment expenses, where material, including legal, other fees, and costs not associated with specific claims but related to the claims payment function), for reported and unreported claims incurred as of the end of each accounting period. These loss reserves are based on actuarial assumptions. Many factors could affect these reserves, including economic and social conditions, frequency and severity of claims, medical trend resulting from the influences of underlying cost inflation, changes in utilization and demand for medical services, and changes in doctrines of legal liability and damage awards in litigation. Therefore, the Company’s reserves are necessarily based on estimates, assumptions and analysis of historical experience. The Company’s results depend upon the variation between actual claims experience and the assumptions used in determining reserves and pricing products. Reserve assumptions and estimates require significant judgment and, therefore, are inherently uncertain. The Company cannot determine with precision the ultimate amounts that will be paid for actual claims or the timing of those payments. The Company's estimate of loss represents management's best estimate of the Company's liability at the balance sheet date. All of the Company’s short-duration contracts are generated from its accident, health, disability and pet insurance business, and are accounted for based on actuarial estimates of the amount of loss inherent in that period’s claims, including losses incurred for which claims have not been reported. Short-duration contract loss estimates rely on actuarial observations of ultimate loss experience for similar historical events. Specialty Health For the Specialty Health business, IBNR claims liabilities plus expected development on reported claims are calculated using standard actuarial methods and practices. The “primary” assumption in the determination of Specialty Health reserves is that historical Claim Development Patterns are representative of future Claim Development Patterns. Factors that may affect this assumption include changes in claim payment processing times and procedures, changes in time delay in submission of claims, and the incidence of unusually large claims. Liabilities for policy benefits and claims for specialty health medical and disability coverage are computed using completion factors and expected Net Loss Ratios derived from actual historical premium and claim data. The reserving analysis includes a review of claim processing statistical measures and large claim early notifications; the potential impacts of any changes in these factors are not material. The Company has business that is serviced by third-party administrators. From time to time, there are changes in the timing of claims processing due to any number of factors including, but not limited to, system conversions and staffing changes during the year. These changes are monitored by the Company and the effects of these changes are taken into consideration during the claim reserving process. Other than these considerations, there have been no significant changes to methodologies and assumptions from the prior year. While these calculations are based on standard methodologies, they are estimates based on historical patterns. To the extent that actual claim payment patterns differ from historical patterns, such estimated reserves may be redundant or inadequate. The effects of such deviations are evaluated by considering claim backlog statistics and reviewing the reasonableness of projected claim ratios. Other factors which may affect the accuracy of policy benefits and claim estimates include the proportion of large claims which may take longer to adjudicate, changes in billing patterns by providers and changes in claim management practices such as hospital bill audits. Disability and Paid Family Leave The Company’s disability business is primarily comprised of New York short-term disability (“DBL”) and group disability. With respect to DBL, the liability for policy benefits and claims for the most recent quarter of earned premium is established using a Net Loss Ratio methodology. The Net Loss Ratio is determined by applying the pricing assumptions to the last quarter of earned premium. Policy benefits and claims associated with the premium earned prior to the last quarter are established using a completion factor methodology. The completion factors are developed using the historical payment patterns for DBL. With respect to PFL, policy benefits and claims associated with the premiums earned are established using a completion factor methodology. As this is the third year of this product, the completion factors used were based on the PFL payment patterns developed during 2018, 2019 and 2020. Since the NYSDFS established a risk adjustment program, the Company is required to record in its financial statements an accrual for a potential payment to, or recovery from, the risk adjustment program depending on how its loss ratio compares to the industry wide loss ratio. To determine the amount of this risk adjustment, knowledge of industry wide performance is necessary. The NYSDFS does not share the industry loss ratio data for the current reporting year until the following year. However, the Company uses available unaudited industry information to make its best estimate of its potential payment or refund under the risk adjustment program until actual information is available. Policy benefits and claims for the Company’s group disability products are developed using actuarial principles and assumptions that consider, among other things, future offsets and recoveries, elimination periods, interest rates, probability of rehabilitation or mortality, incidence and termination rates based on the Company’s experience. The liability for policy benefits and claims is made up of case reserves, IBNR and reopen reserves and LAE. IBNR and reopen reserves are calculated by a hind-sight study, which takes historical experience and develops the reserve as a percentage of premiums from prior years. The two “primary” assumptions on which group disability reserves are based are: (i) morbidity levels; and (ii) recovery rates. If morbidity levels increase, for example due to an epidemic or a recessionary environment, the Company would increase reserves because there would be more new claims than expected. In regard to the assumed recovery rate, if disabled lives recover more quickly than anticipated then the existing claims reserves would be reduced; if less quickly, the existing claims reserves would be increased. Advancements in medical treatments could affect future recovery, termination, and mortality rates. Due to the long-term nature of LTD, in establishing the liability for policy benefits and claims, the Company must make estimates for case reserves, IBNR, and reserves for LAE. Case reserves generally equal the actuarial present value of the liability for future benefits to be paid on claims incurred as of the balance sheet date. The IBNR reserve is established based upon historical trends of existing incurred claims that were reported after the balance sheet date. The LAE reserve is calculated based on an actuarial expense study. There have been no significant changes to methodologies and assumptions from the prior year. |
Organization, Consolidation,_10
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Future Policy Benefits Liability, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Future Policy Benefits Liability, Policy | Future Policy Benefits The liability for future policy benefits consists of the liabilities related to insured events for the Company’s long-duration contracts, primarily its life and annuity products. For traditional life insurance products, the Company computes the liability for future policy benefits primarily using the net premium method based on anticipated investment yield, mortality, and withdrawals. These methods are widely used in the life insurance industry to estimate the liabilities for future policy benefits. Inherent in these calculations are management and actuarial judgments and estimates that could significantly impact the ending reserve liabilities and, consequently, operating results. Actual results may differ, and these estimates are subject to interpretation and change. Management believes that the Company's methods of estimating the liabilities for future policy benefits provided appropriate levels of reserves at December 31, 2020. Changes in the Company's future policy benefits estimates are recorded through a charge or credit to its earnings. |
Organization, Consolidation,_11
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Deposit Contracts, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Deposit Contracts, Policy | Funds received (net of mortality and expense charges) for certain long-duration contracts (principally deferred annuities and universal life policies) are credited directly to a policyholder liability account, funds on deposit. Withdrawals are recorded directly as a reduction of respective policyholders' funds on deposit. Amounts on deposit were credited at annual rates ranging from 3.0% to 6.0% in both 2020 and 2019. |
Organization, Consolidation,_12
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Other Policyholders' Funds, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Other Policyholders' Funds, Policy | Other policyholders’ funds represent interest-bearing liabilities arising from the sale of products, such as universal life, interest-sensitive life and annuities. Policyholder funds are primarily comprised of deposits received and interest credited to the benefit of the policyholder less surrenders and withdrawals, mortality charges and administrative expenses. Interest credited to policyholder funds represents interest accrued or paid on interest-sensitive life policies and investment policies. These amounts are reported in insurance benefits, claims and reserves on the Consolidated Statements of Income. Credit rates for certain annuities and interest-sensitive life policies are adjusted periodically by the Company to reflect current market conditions, subject to contractually guaranteed minimum rates. |
Organization, Consolidation,_13
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Income Tax, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Income Tax, Policy | The provision for deferred income taxes is based on the asset and liability method of accounting for income taxes. Under this method, deferred income taxes are recognized by applying enacted statutory tax rates to temporary differences between amounts reported in the Consolidated Financial Statements and the tax bases of existing assets and liabilities in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is recognized for the portion of deferred tax assets that, in management's judgment, is not likely to be realized. A liability for uncertain tax positions is recorded when it is more likely than not that a tax position will not be sustained upon examination by taxing authorities. The effect on deferred income taxes of a change in tax rates or laws is recognized in income tax expense in the period that includes the enactment date. The Company uses a portfolio approach to release income tax effects from accumulated other comprehensive income. The portfolio approach involves a strict period-by-period cumulative incremental allocation of income taxes to the change in unrealized gains and losses reflected in other comprehensive income. Under this approach, the net cumulative tax effect is ignored. The net change in unrealized gains or losses recorded in accumulated other comprehensive income under this approach would be eliminated only on the date the entire inventory of available-for-sale securities is sold or otherwise disposed of. Interest and penalties, if any, are included in income tax expense in the Consolidated Statements of Income. |
Organization, Consolidation,_14
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Reinsurance Accounting Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Reinsurance Accounting Policy | Amounts paid for or recoverable under reinsurance contracts are included in total assets or total liabilities as due from reinsurers or due to reinsurers. The cost of reinsurance related to long-duration contracts is accounted for over the life of the underlying reinsured policies using assumptions consistent with those used to account for the underlying policies. |
Organization, Consolidation,_15
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Insurance Premiums Revenue Recognition, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Insurance Premiums Revenue Recognition, Policy | Premiums from short-duration medical insurance contracts are intended to cover expected claim costs resulting from insured events that occur during a fixed period of short duration. The Company has the ability to not renew the contract or to revise the premium rates at the end of each annual contract period to cover future insured events. Insurance premiums from annual health contracts are collected monthly and are recognized as revenue evenly as insurance protection is provided. Premiums related to long-term and short-term disability contracts are recognized on a pro rata basis over the applicable contract term. Traditional life insurance products consist principally of products with fixed and guaranteed premiums and benefits, primarily term and whole life insurance products. Revenue from these products are recognized as premium when due. Annuities and interest-sensitive life contracts, such as universal life and interest sensitive whole life, are contracts whose terms are not fixed and guaranteed. Premiums from these policies are reported as funds on deposit. Policy charges consist of fees assessed against the policyholder for cost of insurance (mortality risk), policy administration and early surrender. These revenues are recognized when assessed against the policyholder account balance. Policies that do not subject the Company to significant risk arising from mortality or morbidity are considered investment contracts. Deposits received for such contracts are reported as other policyholder funds. Policy charges for investment contracts consist of fees assessed against the policyholder account for maintenance, administration and surrender of the policy prior to contractually specified dates, and are recognized when assessed against the policyholder account balance. |
Organization, Consolidation,_16
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Revenue from Contract with Customer (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Revenue from Contract with Customer | Fee income includes fees and commissions for various sales, marketing and administrative services provided by the IHC Agencies and lead generation company. Revenue is recognized as these services are performed in an amount that reflects the consideration we expect to be entitled to in exchange for these services. The Company utilizes the following five-step approach to recognize revenue from contracts with customers: (1) (2) (3) (4) (5) Commission revenues result from the sales of certain policies by the IHC Agencies on behalf of multiple unaffiliated insurance carriers. The Company has identified the unaffiliated insurance carriers as its customers. Increased sales of products to these unaffiliated insurance carriers began in 2020 as a result of new contracts with the carriers and increased distribution channels. A significant portion of our commission revenues are recorded at a point in time based on expected constrained LTV that represent expected commissions to be received over the lifetime of the policies sold. These policies primarily consist of senior products, such as Medicare Advantage, Medicare Part D prescription drug plans and Medicare Supplement plans, as well as ACA plans and small group stop-loss. Commission rates are agreed to in advance with the relevant insurance carrier and vary by carrier and policy type. Other commission revenues are recorded over a period of time commensurate with the performance of certain policy retention and renewal services. Constrained LTV commissions are recorded at a point in time upon the issuance of a policy by the unaffiliated insurance carrier. It is at this point the performance obligation is considered satisfied. No significant additional performance obligation occurs with renewal of the initial policy. IHC records substantially all of the anticipated revenue from these policies on this date, adjusted for certain expected constraints. Various factors are analyzed to estimate the constrained LTV commissions. These include, but are not limited to, commission rates, carrier mix, contract amendments and terminations, estimated average plan durations, cancellations and non-renewals. After our initial estimates and constraints are made, the Company reassesses its estimates and constraints at the end of each reporting period. We recognize any material impact of changes to commission revenue in the period when the changes are made to the assumptions we use to calculate constrained LTV or previously estimated constrained LTV already recognized as revenue. Revenues for administrative services, such as premium collections, client services and claims processing, all considered to be a single performance obligation, are recognized over time as these services are performed. One of our agencies administers a block of pet business for an unaffiliated pet insurer that is in run-off and, until its sale in June 2020, another one of our agencies administered occupational accident plans including injured-on-duty accident plans and employer liability plans, and self-funded workers’ compensation plans. The Company has identified the unaffiliated insurance carriers as its customers. Some payments are received monthly or quarterly over the underlying policy period which is shorter than the life of the administrative period. A portion of these payments, in addition to any payments that are received as a lump-sum in advance, are recorded as deferred revenues and recognized in income over the life of the administrative contracts. Revenues for marketing services, primarily STM, Fixed Indemnity Limited Benefit and other ancillary policies, are recognized over time. The Company has identified the unaffiliated insurance carriers as its customers. The Company receives fees for these marketing services each month based on a flat fee times monthly enrollment figures. Revenues for the use of our INSX cloud-based enrollment platform are recognized over time. This platform enables brokers and agents to quote and enroll consumers in ACA plans as well as ancillary health products. In this case, the independent brokers and agents are the customers and they are charged a monthly fee for the right to use the hosted cloud software. Amounts received in advance (annual or quarterly) are recorded as deferred revenues and recognized in income over the life of the contract. Certain IHC subsidiaries earn fees for various lead and referral services. Each service has one performance obligation which is satisfied at a point in time when a lead is transferred to the customer or a referral results in a completed application. The Company has identified the unaffiliated insurance carriers as its customer. All prices are specified in the applicable contract. IHC Agencies also earn fees from policyholders for: (i) the convenience of paying for pet premiums in installments or by credit card; and (ii) the submission of online application or enrollment forms for various products. These fees are earned, and simultaneously received, from the policyholder/applicant at the point in time premium payments are made or online applications/enrollments are submitted. |
Organization, Consolidation,_17
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Earnings Per Share, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Earnings Per Share, Policy | Income per common share is computed using the treasury stock method. |
Organization, Consolidation,_18
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Share-based Compensation, Option and Incentive Plans Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
Share-based Compensation, Option and Incentive Plans Policy | Compensation costs for equity awards, such as stock options and non-vested restricted stock, are measured based on grant-date fair value and are recognized in the Consolidated Statements of Income over the requisite service period (which is usually the vesting period). For such awards with only service conditions, the Company recognizes the compensation cost on a straight-line basis over the requisite service period for the entire award. Compensation costs for liability-classified awards, such as share appreciation rights (“SARs”), are measured and accrued each reporting period in the Consolidated Statements of Income as the requisite service or performance conditions are met. |
Organization, Consolidation,_19
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: New Accounting Pronouncements, Policy (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Policies | |
New Accounting Pronouncements, Policy | Recently Adopted Accounting Standards In October 2018, the Financial Accounting Standards Board (“FASB”) issued guidance for determining whether a decision making fee is a variable interest and requires reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued guidance to improve the effectiveness of disclosures in the notes to financial statements regarding fair value measurements. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued guidance to simplify the test for goodwill impairment by eliminating Step 2 in the goodwill impairment test. Instead, under the amendments in this guidance, an entity should perform its annual or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In October 2020, the FASB issued guidance to clarify that when determining the premium amortization period on purchased callable debt securities, an entity should reevaluate callable debt securities that have multiple call dates each reporting period. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In December 2019, the FASB issued guidance to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes, the requirement to allocate current and deferred tax expense to legal entities not subject to tax in its separate financial statements, enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The amendments in this guidance are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued guidance to improve existing measurements, presentation and disclosure requirements for long-duration contracts issued by insurance entities. The amendments in this guidance requires an entity to (1) review and update assumptions used to measure cash flows at least annually as well as update the discount rate assumption at each reporting date; (2) measure market risk benefits associated with deposit contracts at fair value; (3) disclose liability rollforwards and information about significant inputs, judgements assumptions, and methods used in measurement. Additionally, it simplifies the amortization of deferred acquisition costs and other balances on a constant level basis over the expected term of the related contracts. In 2020, the FASB delayed the effective dates. For smaller reporting companies, the amendments in this guidance are now effective for fiscal years beginning after December 15, 2024, and for interim periods within fiscal years beginning after December 15, 2025. Upon adoption, the amendments in this guidance should be applied to contracts in-force as of the beginning of the earliest period presented with a cumulative adjustment to beginning retained earnings. Management is evaluating the requirements and potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements. In June 2016, the FASB issued guidance requiring financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. An allowance for credit losses will be deducted from the amortized cost basis to present the net carrying value at the amount expected to be collected with changes in the allowance recorded in earnings. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than the currently applied U.S. GAAP method of taking a permanent impairment of the security, which would be limited to the amount by which fair value is below the amortized cost. Certain existing requirements used to evaluate credit losses have been removed. In 2019, the FASB provided transition relief by providing entities with an option to irrevocably elect the fair value option on an instrument-by-instrument basis for eligible instruments upon adoption and delayed the original effective dates. For smaller reporting companies, the amendments in this guidance are now effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption is permitted. The amendments in this guidance should be applied through a cumulative effect adjustment to retained earnings upon adoption as of the beginning of the first reporting period in which the guidance is effective. Management is evaluating the requirements and potential impact that the adoption of this guidance will have on the Company’s consolidated financial statements. |
Cash and Cash Equivalents Dis_2
Cash and Cash Equivalents Disclosure: Schedule of Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Cash and Cash Equivalents | December 31, 2020 2019 Cash and cash equivalents $ 72,089 $ 21,094 Restricted cash included in other assets 2,704 3,537 Total cash, cash equivalents and restricted cash $ 74,793 $ 24,631 |
Investments in Debt and Marke_2
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Debt Securities, Available-for-sale [Table Text Block] (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Debt Securities, Available-for-sale | December 31, 2020 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 175,541 $ 3,735 $ (2,113) $ 177,163 CMOs – residential (1) 5,215 242 (2) 5,455 U.S. Government obligations 50,332 830 - 51,162 Agency MBS – residential (2) 39 - (5) 34 GSEs (3) 5,852 - (155) 5,697 States and political subdivisions 159,421 3,230 (691) 161,960 Foreign government obligations 4,907 271 - 5,178 Total fixed maturities $ 401,307 $ 8,308 $ (2,966) $ 406,649 December 31, 2019 GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR COST GAINS LOSSES VALUE FIXED MATURITIES AVAILABLE-FOR-SALE: Corporate securities $ 161,369 $ 1,832 $ (1,178) $ 162,023 CMOs – residential (1) 5,328 54 - 5,382 U.S. Government obligations 50,340 257 (48) 50,549 GSEs (3) 6,230 - (107) 6,123 States and political subdivisions 153,439 1,512 (943) 154,008 Foreign government obligations 6,719 172 (2) 6,889 Total fixed maturities $ 383,425 $ 3,827 $ (2,278) $ 384,974 (1) (2) (3) |
Investments in Debt and Marke_3
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Investments Classified by Contractual Maturity Date (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Investments Classified by Contractual Maturity Date | AMORTIZED FAIR COST VALUE Due in one year or less $ 46,640 $ 47,037 Due after one year through five years 187,907 192,758 Due after five years through ten years 84,131 84,900 Due after ten years 71,532 70,768 Fixed maturities with no single maturity date 11,097 11,186 $ 401,307 $ 406,649 |
Investments in Debt and Marke_4
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | December 31, 2020 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 47,369 $ 719 $ 12,073 $ 1,394 $ 59,442 $ 2,113 CMOs-residential 748 2 - - 748 2 Agency MBS - residential 34 5 - - 34 5 GSEs - - 5,693 155 5,693 155 States and political subdivisions 35,555 254 8,681 437 44,236 691 Fixed maturities in an unrealized loss position $ 83,706 $ 980 $ 26,447 $ 1,986 $ 110,153 $ 2,966 Number of fixed maturities in an unrealized loss position 33 17 50 December 31, 2019 Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Corporate securities $ 18,151 $ 455 $ 32,301 $ 723 $ 50,452 $ 1,178 U.S. Government obligations - - 7,167 48 7,167 48 GSEs - - 6,173 107 6,173 107 States and political subdivisions 29,872 114 29,462 829 59,334 943 Foreign government obligations - - 1,603 2 1,603 2 Fixed maturities in an unrealized loss position $ 48,023 $ 569 $ 76,706 $ 1,709 $ 124,729 $ 2,278 Number of fixed maturities in an unrealized loss position 18 43 61 |
Investments in Debt and Marke_5
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Investment Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Investment Income | 20 20 201 9 Fixed maturities $ 11,106 $ 14,128 Equity securities 146 386 Cash, cash equivalents and other short-term investments 465 1,004 Other 154 239 Investment income, gross 11,871 15,757 Investment expenses (94) (114) Net investment income $ 11,777 $ 15,643 |
Investments in Debt and Marke_6
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Realized Gain (Loss) on Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Realized Gain (Loss) on Investments | 2020 2019 Realized gains (losses): Fixed maturities available-for-sale $ 742 $ 4,105 Equity securities - (13) Total realized gains (losses) on debt and equity securities 742 4,092 Unrealized gains (losses) on equity securities 586 613 Gains (losses) on debt and equity securities 1,328 4,705 Gains (losses) on other investments 18 - Net investment gains (losses) $ 1,346 $ 4,705 |
Fair Value Disclosures _Text _2
Fair Value Disclosures [Text Block]: Fair Value, Assets Measured on Recurring Basis (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Fair Value, Assets Measured on Recurring Basis | December 31, 2020 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 177,163 $ - $ 177,163 CMOs - residential - 5,455 - 5,455 US Government obligations - 51,162 - 51,162 Agency MBS - residential 34 34 GSEs - 5,697 - 5,697 States and political subdivisions - 160,625 1,335 161,960 Foreign government obligations - 5,178 - 5,178 Total fixed maturities - 405,314 1,335 406,649 Equity securities: Common stocks 3,411 - - 3,411 Nonredeemable preferred stocks 2,708 - - 2,708 Total equity securities 6,119 - - 6,119 Total Financial Assets $ 6,119 $ 405,314 $ 1,335 $ 412,768 December 31, 2019 Level 1 Level 2 Level 3 Total FINANCIAL ASSETS: Fixed maturities available-for-sale: Corporate securities $ - $ 162,023 $ - $ 162,023 CMOs - residential - 5,382 - 5,382 US Government obligations - 50,549 - 50,549 GSEs - 6,123 - 6,123 States and political subdivisions - 152,479 1,529 154,008 Foreign government obligations - 6,889 - 6,889 Total fixed maturities - 383,445 1,529 384,974 Equity securities: Common stocks 2,864 - - 2,864 Nonredeemable preferred stocks 883 - - 883 Total equity securities 3,747 - - 3,747 Total Financial Assets $ 3,747 $ 383,445 $ 1,529 $ 388,721 |
Fair Value Disclosures _Text _3
Fair Value Disclosures [Text Block]: Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | 2020 2019 States and Total States and Total Political Level 3 Political Level 3 Subdivisions Assets Subdivisions Assets Beginning balance $ 1,529 $ 1,529 $ 1,709 $ 1,709 Gains (losses) included in other comprehensive income (loss): Net unrealized gains (losses) (23) (23) (26) (26) Repayments and amortization of fixed maturities (171) (171) (154) (154) Balance at end of period $ 1,335 $ 1,335 $ 1,529 $ 1,529 |
Fair Value Disclosures _Text _4
Fair Value Disclosures [Text Block]: Fair Value, by Balance Sheet Grouping (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Fair Value, by Balance Sheet Grouping | December 31, 2020 December 31, 2019 Level 1 Level 2 Level 1 Level 2 Fair Fair Carrying Fair Fair Carrying Value Value Value Value Value Value FINANCIAL ASSETS: Short-term investments $ 2,634 $ - $ 2,634 $ 50 $ - $ 50 Securities purchased under agreements to resell $ 49,990 $ - $ 49,990 $ 107,157 $ - $ 107,157 FINANCIAL LIABILITIES: Funds on deposit $ - $ 141,409 $ 141,376 $ - $ 141,010 $ 140,951 Other policyholders’ funds $ - $ 12,001 $ 12,789 $ - $ 12,049 $ 12,049 |
Investments in and Advances t_2
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]: Other Investments, Including Variable Interest Entities Table Text Block (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Other Investments, Including Variable Interest Entities Table Text Block | December 31, 20 20 201 9 Equity method investments $ 1,958 $ 10,171 Equity investments carried at cost less impairments 6,250 5,000 Other investments and securities, at cost 30 37 $ 8,238 $ 15,208 |
Business Combination Disclosu_2
Business Combination Disclosure: Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Abacus | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Other assets $ 350 Deferred tax asset 439 Total identifiable assets 789 Other liabilities 575 Total liabilities 575 Net identifiable assets acquired $ 214 |
Torchlight Technology Group Acquisition Member | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Cash $ 333 Intangible assets 2,700 Deferred tax asset 552 Other assets 2,132 Total identifiable assets 5,717 Other liabilities 1,354 Total liabilities 1,354 Net identifiable assets acquired $ 4,363 |
Series of Individually Immaterial Business Acquisitions | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Cash $ 582 Intangible assets 1,500 Other assets 1,341 Total identifiable assets 3,423 Other liabilities 3,637 Total liabilities 3,637 Net identifiable assets (liabilities) acquired $ (214) |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Goodwill [Table Text Block] (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Goodwill | Specialty Group disability Health life, DBL and PFL Total Balance at December 31, 2018 $ 50,697 $ - $ 50,697 Acquisitions in 2019 (see Note 7) 9,468 - 9,468 Balance at December 31, 2019 60,165 - 60,165 Acquisitions in 2020 (see Note 7) 10,512 4,223 14,735 Balance at December 31, 2020 $ 70,677 $ 4,223 $ 74,900 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Finite-Lived Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Finite-Lived Intangible Assets | December 31, 2020 December 31, 2019 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Finite-lived Intangible Assets: Agent and broker relationships $ 12,683 $ 8,273 $ 18,753 $ 14,474 Domain 1,000 425 1,000 325 Software systems 2,930 746 780 332 Total finite-lived $ 16,613 $ 9,444 $ 20,533 $ 15,131 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Indefinite-Lived Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Indefinite-Lived Intangible Assets | December 31, 2020 2019 Indefinite-lived Intangible Assets: Insurance licenses $ 7,977 $ 7,977 Total indefinite-lived $ 7,977 $ 7,977 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Amortization Year Expense 2021 $ 1,556 2022 1,380 2023 1,079 2024 805 2025 676 |
Lessee, Operating Leases_ Lease
Lessee, Operating Leases: Lease, Cost (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Lease, Cost | 2020 2019 Operating lease costs $ 2,614 $ 2,277 Short-term lease costs 208 194 Variable lease costs 489 456 Total lease costs $ 3,311 $ 2,927 Other information: Operating cash flows from operating leases $ (2,647) $ (2,392) Right-of-use assets obtained for operating leases $ 4,868 $ 1,688 |
Lessee, Operating Leases_ Lesse
Lessee, Operating Leases: Lessee, Operating Lease, Liability, Maturity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Lessee, Operating Lease, Liability, Maturity | Due in the next year $ 2,624 Due in two years 2,603 Due in three years 1,721 Due in four years 1,448 Due in five years 1,227 Due in remaining years 2,002 Total payments due 11,625 Present value discount (1,633) Operating lease liability $ 9,992 |
Reinsurance _Text Block__ Effec
Reinsurance [Text Block]: Effects of Reinsurance (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Effects of Reinsurance | ASSUMED CEDED GROSS FROM OTHER TO OTHER NET AMOUNT COMPANIES COMPANIES AMOUNT Premiums Earned December 31, 2020 Accident and health $ 305,032 $ 7 $ 23,741 $ 281,298 Life and annuity 55,771 756 27,163 29,364 Property and liability 86,876 - 8 86,868 $ 447,679 $ 763 $ 50,912 $ 397,530 December 31, 2019 Accident and health $ 287,529 $ 5 $ 22,538 $ 264,996 Life and annuity 54,825 998 33,061 22,762 Property and liability 51,046 - 63 50,983 $ 393,400 $ 1,003 $ 55,662 $ 338,741 Insurance benefits, claims and reserves December 31, 2020 $ 242,399 $ 2,307 $ 36,489 $ 208,217 December 31, 2019 $ 215,477 $ 2,681 $ 44,037 $ 174,121 |
Revenue from Contract with Cu_2
Revenue from Contract with Customer: Disaggregation of Revenue (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Disaggregation of Revenue | 2020 2019 Commissions $ 13,432 $ 1,964 Administrative Fees 2,349 4,805 Marketing Fees 1,229 2,699 Enrollment Platform Fees 2,020 1,890 Lead and Referral Fees 3,665 1,420 Payment Plan, Application and Other Fees 1,442 1,225 Total Fee Income $ 24,137 $ 14,003 |
Revenue from Contract with Cu_3
Revenue from Contract with Customer: Contract with Customer, Contract Asset, Contract Liability, and Receivable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable | 2020 Beginning balance $ 255 Commissions recognized during the period 13,432 Cash receipts (5,840) Ending balance $ 7,847 |
Liability for Future Policy B_2
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Schedule of Liability for Unpaid Claims and Claims Adjustment Expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense | 2020 Specialty DBL and Group All Other Health PFL Disability Lines Total Balance at beginning of year $ 42,228 $ 23,438 $ 80,079 $ 19,057 $ 164,802 Less: reinsurance recoverable 1,717 664 23,322 11,290 36,993 Net balance at beginning of year 40,511 22,774 56,757 7,767 127,809 Amount incurred, related to: Current year 89,379 78,443 34,109 18,189 220,120 Prior years (4,283) (3,478) (1,689) (3,284) (12,734) Total incurred 85,096 74,965 32,420 14,905 207,386 Amount paid, related to: Current year 57,262 43,949 12,355 12,174 125,740 Prior years 26,666 18,971 18,318 2,394 66,349 Total paid 83,928 62,920 30,673 14,568 192,089 Net balance at end of period 41,679 34,819 58,504 8,104 143,106 Plus: reinsurance recoverable 1,776 430 22,472 11,448 36,126 Balance at end of period $ 43,455 $ 35,249 $ 80,976 $ 19,552 $ 179,232 2019 Specialty DBL and Group All Other Health PFL Disability Lines Total Balance at beginning of year $ 38,363 $ 21,080 $ 82,222 $ 18,450 $ 160,115 Less: reinsurance recoverable 1,335 719 24,712 11,356 38,122 Net balance at beginning of year 37,028 20,361 57,510 7,094 121,993 Amount incurred, related to: Current year 82,678 65,452 31,463 16,531 196,124 Prior years (5,879) (6,489) (5,192) (2,734) (20,294) Total incurred 76,799 58,963 26,271 13,797 175,830 Amount paid, related to: Current year 49,669 42,803 11,794 11,053 115,319 Prior years 23,647 13,747 15,230 2,071 54,695 Total paid 73,316 56,550 27,024 13,124 170,014 Net balance at end of period 40,511 22,774 56,757 7,767 127,809 Plus: reinsurance recoverable 1,717 664 23,322 11,290 36,993 Balance at end of period $ 42,228 $ 23,438 $ 80,079 $ 19,057 $ 164,802 |
Specialty Health, Health Insurance Product Lines | |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense | Specialty Health Segment Health Insurance Claims 2020 2019 Balance at beginning of year $ 31,259 $ 26,068 Less: reinsurance recoverable 1,113 851 Net balance at beginning of year 30,146 25,217 Amount incurred, related to: Current year 38,602 51,479 Prior years (2,208) (3,517) Total incurred 36,394 47,962 Amount paid, related to: Current year 20,659 25,738 Prior years 19,352 17,295 Total paid 40,011 43,033 Net balance at end of period 26,529 30,146 Plus: reinsurance recoverable 1,766 1,113 Balance at end of period $ 28,295 $ 31,259 |
Liability for Future Policy B_3
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Schedule Of Prior Year Claims And Claims Adjustment Expense Disclosure (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Specialty Health Segment, All Product Lines | |
Schedule Of Prior Year Claims And Claims Adjustment Expense Disclosure | Specialty Health segment: 2020 2019 Short-term Medical $ 1,425 $ 1,850 Occupational Accident 1,460 2,054 Fixed Indemnity Limited Benefit (1,280) 166 Limited Medical 407 474 Critical Illness 434 325 Group Gap 616 132 Pet 618 128 All other specialty health lines 603 750 Total Specialty Health segment $ 4,283 $ 5,879 |
Liability for Future Policy B_4
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short-duration Insurance Contracts, Claims Development (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Specialty Health Segment, All Product Lines | |
Short-duration Insurance Contracts, Claims Development | Specialty Health Segment –Claims Development December 31, 2020 Incurred Claims and Claim Adjustment Expenses, Net of Reinsurance Incurred But Cumulative For the years ended December 31, Not Reported Number of Accident 2016 2017 2018 2019 Plus Expected Reported Year (unaudited) (unaudited) (unaudited) (unaudited) 2020 Development Claims ( Actual ) 2016 $ 85,426 86,466 86,244 85,399 $ 85,759 $ 798 538,115 2017 87,070 77,214 77,194 77,379 611 631,101 2018 74,652 69,206 71,394 3,105 673,634 2019 82,926 76,032 4,512 652,408 2020 89,379 32,117 602,536 Total $ 399,943 Specialty Health Segment –Claims Development Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance For the years ended December 31, Accident 2016 2017 2018 2019 Year (unaudited) (unaudited) (unaudited) (unaudited) 2020 2016 $ 45,454 78,611 82,983 84,238 $ 84,961 2017 49,289 73,667 75,918 76,768 2018 46,574 64,947 68,289 2019 49,670 71,521 2020 57,262 Total $ 358,801 Outstanding policy benefits and claims payable before 2016, net of reinsurance 537 Total policy benefits and claims, net of reinsurance $ 41,679 |
DBL And PFL Product Lines | |
Short-duration Insurance Contracts, Claims Development | Group disability, life, DBL and PFL Segment – DBL/PFL Claims Development Incurred Claims and Claim Adjustment Expenses, Net of Reinsurance For the year ended December 31, Accident Year 2020 2020 Total $ 78,443 Group disability, life, DBL and PFL Segment – DBL/PFL Claims Development Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance For the year ended December 31, Accident Year 2020 2020 Total $ 43,949 Outstanding policy benefits and claims payable before 2020 325 Total policy benefits and claims, net of reinsurance $ 34,819 |
Group Disability Product Line | |
Short-duration Insurance Contracts, Claims Development | Group disability. Life, DBL and PFL Segment – Group Disability Claims Development December 31, 2020 Incurred Claims and Claim Adjustment Expenses, Net of Reinsurance Incurred But Cumulative For the years ended December 31, Not Reported Number of Accident 2011 2012 2013 2014 2015 2016 2017 2018 2019 Plus Expected Reported Year (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) 2020 Development Claims (Actual) 2011 $ 18,558 16,948 16,166 15,271 15,730 16,672 16,712 16,516 16,546 $ 16,538 $ - 2,338 2012 15,356 13,708 12,187 12,177 12,585 12,472 12,161 11,883 12,083 - 2,263 2013 32,952 30,832 29,893 32,070 31,664 31,378 31,545 31,058 - 2,629 2014 16,314 13,322 14,792 14,414 14,311 14,488 14,670 456 2,783 2015 25,335 19,247 16,630 14,705 14,552 15,175 172 3,254 2016 28,450 28,568 27,359 25,988 26,336 244 3,500 2017 29,897 26,021 22,851 22,358 481 3,783 2018 29,766 26,610 23,219 432 4,022 2019 34,518 33,535 1,786 4,303 2020 36,723 13,120 2,991 Total $ 231,695 Group disability, life, DBL and PFL Segment – Group Disability Claims Development Cumulative Paid Claims and Claim Adjustment Expenses, Net of Reinsurance For the years ended December 31, Accident 2011 2012 2013 2014 2015 2016 2017 2018 2019 Year (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) 2020 2011 $ 3,252 8,191 9,622 10,186 10,737 11,363 11,993 12,522 12,979 $ 13,388 2012 3,069 7,003 8,003 8,591 8,997 9,509 9,924 10,177 10,421 2013 5,454 12,541 16,424 19,428 21,536 23,460 25,029 26,245 2014 3,663 8,466 9,919 10,623 11,142 11,661 12,089 2015 6,825 14,034 16,634 17,203 17,623 18,117 2016 8,333 16,379 19,269 20,261 21,080 2017 8,459 16,139 17,901 18,339 2018 8,417 16,109 18,034 2019 11,794 22,755 2020 12,355 Total $ 172,823 Outstanding policy benefits and claims payable before 2011, net of reinsurance 9,412 Total policy benefits and claims, net of reinsurance $ 68,284 |
Liability for Future Policy B_5
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short-duration Insurance Contracts, Schedule of Historical Claims Duration (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Specialty Health Segment, All Product Lines | |
Short-duration Insurance Contracts, Schedule of Historical Claims Duration | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Specialty Health Segment 62.3% 31.2% 4.2% 1.3% 0.8% |
Group Disability Product Line | |
Short-duration Insurance Contracts, Schedule of Historical Claims Duration | Group Disability Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 16.7% 18.1% 5.8% 2.7% 2.0% 1.8% 1.4% 0.9% 0.6% 0.4% |
Liability for Future Policy B_6
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short Duration Insurance Contracts, Discounted Liabilities Table Text Block (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Group Disability Product Line | |
Short Duration Insurance Contracts, Discounted Liabilities Table Text Block | Carrying Value of Aggregate Amount Unpaid Claim Liabilities of Discount December 31, December 31 2020 2019 2020 2019 Group disability $ 58,504 $ 56,756 $ 9,780 $ 10,382 |
Liability for Future Policy B_7
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability | December 31, 2020 Net outstanding balances: Specialty Health Segment $ 41,679 DBL/PFL 34,819 Group disability 68,284 Other short-duration insurance lines 7,827 Policy benefits and claims, net of reinsurance 152,609 Reinsurance recoverable on unpaid claims: Specialty Health Segment 1,776 DBL/PFL 430 Group disability 22,472 Other short-duration insurance lines 11,448 Reinsurance recoverable on unpaid claims 36,126 Insurance lines other than short-duration 277 Aggregate discount (9,780) Total policy benefit and claims $ 179,232 |
Income Tax Disclosure _Text B_2
Income Tax Disclosure [Text Block]: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | 2020 2019 CURRENT: U.S. Federal $ 6,544 $ 4,498 State and Local 250 729 6,794 5,227 DEFERRED: U.S. Federal 5,052 8,334 State and Local (1,114) (902) 3,938 7,432 $ 10,732 $ 12,659 |
Income Tax Disclosure _Text B_3
Income Tax Disclosure [Text Block]: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | 2020 2019 Tax computed at the statutory rate $ 6,269 $ 5,323 Dividends received deduction and tax exempt interest (132) (128) State and local income taxes, net of Federal effect (683) (132) Executive compensation limit 456 583 Multistate RSAs 776 - AMIC valuation allowance adjustment 4,492 7,900 Share-based compensation (75) (993) Other, net (371) 106 Income tax expense (benefit) $ 10,732 $ 12,659 |
Income Tax Disclosure _Text B_4
Income Tax Disclosure [Text Block]: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | 20 20 201 9 DEFERRED TAX ASSETS: Investment write-downs $ 48 $ 48 Loss carryforwards 9,361 23,612 Capital loss carryforward 677 - Other 5,984 3,323 Total gross deferred tax assets 16,070 26,983 Less AMIC valuation allowance (8,281) (17,212) Net deferred tax assets 7,789 9,771 DEFERRED TAX LIABILITIES: Insurance reserves (2,309) (2,459) Goodwill and intangible assets (2,324) (2,341) Unrealized gains on investment securities (1,145) (338) Other (2,015) (688) Total gross deferred tax liabilities (7,793) (5,826) Net deferred tax asset (liability) $ (4) $ 3,945 |
Stockholders' Equity Note Dis_2
Stockholders' Equity Note Disclosure [Text Block]: Schedule of Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Accumulated Other Comprehensive Income (Loss) | 2020 2019 Beginning balance $ $ (8,310) Other comprehensive income (loss): Other comprehensive income (loss) before reclassifications 12,246 Less amounts reclassified from accumulated OCI (2,724) Net other comprehensive income (loss) 9,522 Ending balance $ $ 1,212 |
Stockholders' Equity Note Dis_3
Stockholders' Equity Note Disclosure [Text Block]: Reclassification out of Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Reclassification out of Accumulated Other Comprehensive Income | 2020 2019 Unrealized gains (losses) on available-for-sale securities reclassified during the period to the following income statement line items: Net investment gains (losses) $ 742 $ 4,105 Net impairment losses recognized in earnings - (646) Income (loss) before income tax 742 3,459 Tax effect 155 735 Net income (loss) $ 587 $ 2,724 |
Compensation and Employee Ben_2
Compensation and Employee Benefit Plans [Text Block]: Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | 2020 2019 IHC’s Share-based Compensation Plan: Stock options $ 1,754 $ 1,940 Restricted stock units 358 292 SARs 262 442 Share-based compensation expense, pre-tax 2,374 2,674 Tax benefits 639 720 Share-based compensation expense, net $ 1,735 $ 1,954 |
Compensation and Employee Ben_3
Compensation and Employee Benefit Plans [Text Block]: Schedule of Share-based Compensation, Stock Options, Activity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Share-based Compensation, Stock Options, Activity | Shares Weighted- Average Under Option Exercise Price December 31, 2019 785,047 $ 31.54 Granted 25,000 40.20 Exercised (23,667) 20.20 December 31, 2020 786,380 $ 32.16 |
Compensation and Employee Ben_4
Compensation and Employee Benefit Plans [Text Block]: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | 2020 2019 Weighted-average risk-free interest rate 0.24% 2.32% Expected annual dividend rate per share 1.32% 1.22% Expected volatility factor of the Company's common stock 34.17% 28.97% Weighted-average expected term of options 3.5 years 3.5 years |
Compensation and Employee Ben_5
Compensation and Employee Benefit Plans [Text Block]: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding | December 31, 2020 Outstanding Exercisable Number of options 786,380 469,130 Weighted average exercise price per share $ 32.16 $ 28.55 Aggregate intrinsic value for all options (in thousands) $ 6,952 $ 5,839 Weighted average contractual term remaining 1.6 years 1.5 years |
Compensation and Employee Ben_6
Compensation and Employee Benefit Plans [Text Block]: Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | No. of Weighted-Average Non-vested Grant-Date Shares Fair Value December 31, 2019 19,800 $ 37.54 Granted 9,900 42.62 Vested (9,900) 35.57 December 31, 2020 19,800 $ 41.06 |
Concentration Risk Disclosure_2
Concentration Risk Disclosure [Text Block]: Ceded Credit Risk [Table Text Block] (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Ceded Credit Risk | AM Best Due from Reinsurer Rating Reinsurer National Guardian Life Insurance Company A- $ 214,687 Guggenheim Life and Annuity Company B++ 91,819 |
Dividend Payment Restrictions_2
Dividend Payment Restrictions [Text Block]: Statutory Accounting Practices Disclosure (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Statutory Accounting Practices Disclosure | Years Ended December 31, 2020 2019 Statutory net income: Madison National Life $ 14,360 $ 16,460 Standard Security Life 12,902 5,246 Independence American Insurance Company 13,354 19,030 December 31, 2020 2019 Statutory capital and surplus: Madison National Life $ 86,105 $ 83,256 Standard Security Life 64,604 57,069 Independence American Insurance Company 88,204 84,533 |
Segment Reporting Disclosure _2
Segment Reporting Disclosure [Text Block]: Schedule of Segment Reporting Information, by Segment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Schedule of Segment Reporting Information, by Segment | 2020 2019 Revenues: Specialty Health (A) $ 224,101 $ 193,823 Group disability, life, DBL and PFL 214,769 169,038 Individual life, annuities and other (B) 2,411 1,675 Corporate 1,237 5,853 442,518 370,389 Net investment gains (losses) 1,346 4,705 Net impairment losses recognized in earnings - (646) Total revenues $ 443,864 $ 374,448 Income before income taxes Specialty Health (A) (C) (D) $ 4,322 $ 7,757 Group disability, life, DBL and PFL 33,156 21,809 Individual life, annuities and other (B) (E) 74 (1,129) Corporate (9,048) (7,148) 28,504 21,289 Net investment gains (losses) 1,346 4,705 Net impairment losses recognized in earnings - (646) Income before income taxes $ 29,850 $ 25,348 (A) (B) (C) (D) (E) December 31, 2020 2019 IDENTIFIABLE ASSETS AT YEAR END Specialty Health $ 235,925 $ 223,679 Group disability, life, DBL and PFL 349,263 324,139 Individual life, annuities and other 340,494 361,466 Corporate 157,474 145,019 $ 1,083,156 $ 1,054,303 |
Summary of Investments, Other_2
Summary of Investments, Other than Investments in Related Parties: Summary Of Investments Other Than Investments In Related Parties Table Text Block (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Summary Of Investments Other Than Investments In Related Parties Table Text Block | SCHEDULE I INDEPENDENCE HOLDING COMPANY AND SUBSIDIARIES SUMMARY OF INVESTMENTS – OTHER THAN INVESTMENTS IN RELATED PARTIES DECEMBER 31, 2020 (In thousands) AMOUNT SHOWN IN BALANCE TYPE OF INVESTMENT COST VALUE SHEET FIXED MATURITIES - AVAILABLE-FOR-SALE: Bonds: United States Government and Government agencies and authorities $ 56,223 $ 56,893 $ 56,893 States, municipalities and political subdivisions 159,421 161,960 161,960 Foreign governments 4,907 5,178 5,178 Public utilities 28,008 28,967 28,967 All other corporate bonds 152,748 153,651 153,651 TOTAL FIXED MATURITIES 401,307 406,649 406,649 EQUITY SECURITIES: Common stocks: Industrial, miscellaneous and all other 2,612 3,411 3,411 Non-redeemable preferred stocks 2,637 2,708 2,708 TOTAL EQUITY SECURITIES 5,249 6,119 6,119 Short-term investments and resale agreements 52,624 52,624 52,624 Other long-term investments 10,707 8,238 8,238 TOTAL INVESTMENTS $ 469,887 $ 473,630 $ 473,630 |
Condensed Financial Informati_2
Condensed Financial Information of Parent Company Only Disclosure: Condensed Balance Sheet (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Parent Company | |
Condensed Balance Sheet | SCHEDULE II INDEPENDENCE HOLDING COMPANY CONDENSED BALANCE SHEETS (In thousands, except share data) (PARENT COMPANY ONLY) DECEMBER 31, 2020 2019 ASSETS: Cash and cash equivalents $ 10,852 $ 895 Securities purchased under agreements to resell 14,780 39,438 Fixed maturities, available-for-sale 20,324 3,260 Investments in consolidated subsidiaries 435,376 428,014 Income tax receivable 11,389 9,307 Deferred tax asset, net 1,157 1,517 Other assets 821 461 TOTAL ASSETS $ 494,699 $ 482,892 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES: Accounts payable and other liabilities $ 12,684 $ 11,491 Amounts due to consolidated subsidiaries, net 6,596 6,449 Dividends payable 3,301 3,003 TOTAL LIABILITIES 22,581 20,943 Redeemable noncontrolling interest 2,312 2,237 STOCKHOLDERS' EQUITY: Preferred stock (none issued) (A) - - Common stock (B) 18,625 18,625 Paid-in capital 124,757 122,717 Accumulated other comprehensive loss 4,197 1,212 Treasury stock, at cost (C) (77,088) (69,724) Retained earnings 399,273 386,864 TOTAL IHC’S STOCKHOLDERS' EQUITY 469,764 459,694 NONREDEEMABLE NONCONTR OLLING INTERESTS 42 18 TOTAL EQUITY 469,806 459,712 TOTAL LIABILITIES AND EQUITY $ 494,699 $ 482,892 (A) (B) (C) |
Condensed Financial Informati_3
Condensed Financial Information of Parent Company Only Disclosure: Condensed Income Statement (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Parent Company | |
Condensed Income Statement | SCHEDULE II (Continued) INDEPENDENCE HOLDING COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (In thousands) (PARENT COMPANY ONLY) 2020 2019 REVENUES: Net investment income $ 459 $ 738 Net investment gains (losses) (19) 130 Other income (loss) (150) 1,461 290 2,329 EXPENSES: General and administrative expenses 8,694 9,352 8,694 9,352 Loss before income tax benefits and equity in net income of subsidiaries (8,404) (7,023) Equity in net income of subsidiaries 26,138 19,061 Income before income tax benefits 17,734 12,038 Income tax (benefits) (1,384) (651) Net income 19,118 12,689 Less income from noncontrolling interests in subsidiaries (237) (293) Net income attributable to IHC $ 18,881 $ 12,396 Comprehensive Income: Net income $ 19,118 $ 12,689 Other comprehensive income (loss), net of tax: Unrealized gains (losses) on available-for-sale securities (80) 164 Equity in unrealized gains (losses) on available-for-sale securities of subsidiaries 3,065 9,358 Other comprehensive income (loss), net of tax 2,985 9,522 Comprehensive income, net of tax 22,103 22,211 Less: comprehensive income attributable to noncontrolling interests (237) (293) Comprehensive income, net of tax, attributable to IHC $ 21,866 $ 21,918 |
Condensed Financial Informati_4
Condensed Financial Information of Parent Company Only Disclosure: Condensed Cash Flow Statement (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Parent Company | |
Condensed Cash Flow Statement | SCHEDULE II (Continued) INDEPENDENCE HOLDING COMPANY CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (PARENT COMPANY ONLY) 2020 2019 CASH FLOWS PROVIDED BY (USED BY) OPERATING ACTIVITIES: Net income $ 19,118 $ 12,689 Adjustments to net income: Equity in net income of subsidiaries (26,138) (19,061) Other 4,105 3,247 Change in current income tax liability (A) (2,082) (17,793) Changes in other assets and liabilities (503) (48) Net change in cash from operating activities (5,500) (20,966) CASH FLOWS PROVIDED BY (USED BY) INVESTING ACTIVITIES: Change in investments in and advances to subsidiaries (B) 21,848 34,544 Net purchases of securities under agreements to resell 24,658 (39,438) Purchases of fixed maturities (28,693) (1,154) Sales of fixed maturities - 8,432 Maturities and other repayments of fixed maturities 11,284 28,193 Other 18 - Net change in cash from investing activities 29,115 30,577 CASH FLOWS PROVIDED BY (USED BY) FINANCING ACTIVITIES: Repurchases of common stock (7,534) (4,057) Dividends paid (6,222) (5,231) Proceeds from stock options exercised 179 269 Payments related to tax withholdings for share-based compensation (81) (2,397) Net change in cash from financing activities (13,658) (11,416) Net change in cash and cash equivalents 9,957 (1,805) Cash and cash equivalents, beginning of year (C) 895 2,700 Cash and cash equivalents, end of year (C) $ 10,852 $ 895 (A) (B) (C) |
Supplementary Insurance Infor_2
Supplementary Insurance Information, for Insurance Companies Disclosure: Supplementary Insurance Information For Insurance Companies Disclosure Table Text Block (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Supplementary Insurance Information For Insurance Companies Disclosure Table Text Block | SCHEDULE III INDEPENDENCE HOLDING COMPANY SUPPLEMENTARY INSURANCE INFORMATION (in thousands) FUTURE POLICY INSURANCE AMORTIZATION SELLING DEFERRED BENEFITS, NET NET BENEFITS, OF DEFERRED GENERAL & NET ACQUISITION LOSSES & UNEARNED PREMIUMS INVESTMENT CLAIMS & ACQUISTION ADMINISTRATIVE PREMIUMS COSTS (1) CLAIMS PREMIUMS EARNED INCOME ( 2 ) RESERVES COSTS (1) EXPENSES ( 3) WRITTEN December 31, 2020 Specialty Health $ - 43,632 6,063 190,755 2,617 84,219 - 135,560 $ 193,710 Group disability, life, DBL and PFL - 160,245 6,553 206,712 7,111 123,263 - 58,350 209,246 Individual life, annuities and other - 314,817 173 63 898 735 - 1,602 63 Corporate - - - - 1,151 - - 10,285 - $ - 518,694 12,789 397,530 11,777 208,217 - 205,797 $ 403,019 December 31, 2019 Specialty Health $ - 42,495 3,110 177,991 4,330 75,539 - 110,527 $ 177,438 Group disability, life, DBL and PFL - 146,080 4,000 160,702 7,774 97,335 - 49,894 162,972 Individual life, annuities and other - 318,383 172 48 1,300 1,247 - 1,557 48 Corporate - - - - 2,239 - - 13,001 - $ - 506,958 7,282 338,741 15,643 174,121 - 174,979 $ 340,458 (1) (2) (3) |
Supplemental Schedule of Rein_2
Supplemental Schedule of Reinsurance Premiums for Insurance Companies: Supplemental Schedule Of Reinsurance Premiums For Insurance Companies Table Text Block (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Tables/Schedules | |
Supplemental Schedule Of Reinsurance Premiums For Insurance Companies Table Text Block | SCHEDULE IV INDEPENDENCE HOLDING COMPANY REINSURANCE (In thousands) PERCENTAGE ASSUMED CEDED OF AMOUNT GROSS FROM OTHER TO OTHER NET ASSUMED AMOUNT COMPANIES COMPANIES AMOUNT TO NET Life Insurance In-Force December 31, 2020 $ 15,534,807 $ 6,003 $ 4,842,171 $ 10,698,639 0.1% December 31, 2019 $ 14,935,361 $ 6,298 $ 6,553,251 $ 8,388,408 0.1% Premiums Earned December 31, 2020 Accident and health $ 305,032 $ 7 $ 23,741 $ 281,298 0.0% Life and annuity 55,771 756 27,163 29,364 2.6% Property and liability (1) 86,876 - 8 86,868 0.0% $ 447,679 $ 763 $ 50,912 $ 397,530 0.2% December 31, 2019 Accident and health $ 287,529 $ 5 $ 22,538 $ 264,996 0.0% Life and annuity 54,825 998 33,061 22,762 4.4% Property and liability (1) 51,046 - 63 50,983 0.0% $ 393,400 $ 1,003 $ 55,662 $ 338,741 0.3% |
Organization, Consolidation,_20
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
May 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stockholders' Equity Attributable to Noncontrolling Interest | $ 42 | $ 18 | |
Other Assets | |||
Property, Plant and Equipment, Net | 7,640 | 7,582 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 9,084 | $ 6,689 | |
Other Income | |||
Gain (Loss) on Disposition of Stock in Subsidiary | $ 158 | ||
GeneveAffiliatedEntityMember | |||
EntityCommonStockOutstandingOwnershipPercent | 62.00% | ||
HealthInsurance.Org Member | |||
Business Combination, Consideration Transferred | $ 4,700 | ||
Stockholders' Equity Attributable to Noncontrolling Interest | 2,380 | ||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent | $ 1,033 |
Organization, Consolidation,_21
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Repurchase and Resale Agreements Policy (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Securities Purchased under Agreements to Resell | $ 49,990 | $ 107,157 |
Resale Agreements Collateral Requirements, Percent | 102.00% |
Organization, Consolidation,_22
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Property, Plant and Equipment, Policy (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Other Asset Impairment Charges | $ 0 | $ 0 |
Organization, Consolidation,_23
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]: Deposit Contracts, Policy (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Minimum | ||
Liability for Policyholder Contract Deposits, Interest Rate | 3.00% | 3.00% |
Maximum | ||
Liability for Policyholder Contract Deposits, Interest Rate | 6.00% | 6.00% |
Earnings Per Share _Text Bloc_2
Earnings Per Share [Text Block] (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 58 | 73 |
Cash and Cash Equivalents Dis_3
Cash and Cash Equivalents Disclosure: Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents, at Carrying Value | $ 72,089 | $ 21,094 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 74,793 | 24,631 | $ 30,807 |
Other Assets | |||
Restricted Cash | $ 2,704 | $ 3,537 |
Investments in Debt and Marke_7
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Debt Securities, Available-for-sale [Table Text Block] (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale, Amortized Cost | $ 401,307 | $ 383,425 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 8,308 | 3,827 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2,966 | 2,278 |
Debt Securities, Available-for-sale | 406,649 | 384,974 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 175,541 | 161,369 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3,735 | 1,832 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2,113 | 1,178 |
Debt Securities, Available-for-sale | 177,163 | 162,023 |
Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 5,215 | 5,328 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 242 | 54 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2 | 0 |
Debt Securities, Available-for-sale | 5,455 | 5,382 |
US Treasury Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 50,332 | 50,340 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 830 | 257 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 48 |
Debt Securities, Available-for-sale | 51,162 | 50,549 |
US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 39 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 5 | |
Debt Securities, Available-for-sale | 34 | |
US Government-sponsored Enterprises Debt Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 5,852 | 6,230 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 155 | 107 |
Debt Securities, Available-for-sale | 5,697 | 6,123 |
US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale, Amortized Cost | 159,421 | 153,439 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3,230 | 1,512 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 691 | 943 |
Debt Securities, Available-for-sale | 161,960 | 154,008 |
Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale, Amortized Cost | 4,907 | 6,719 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 271 | 172 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 2 |
Debt Securities, Available-for-sale | $ 5,178 | $ 6,889 |
Investments in Debt and Marke_8
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $ 46,640 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 47,037 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 187,907 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 192,758 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 84,131 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 84,900 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 71,532 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 70,768 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 11,097 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 11,186 | |
Debt Securities, Available-for-sale, Amortized Cost | 401,307 | $ 383,425 |
Debt Securities, Available-for-sale | $ 406,649 | $ 384,974 |
Investments in Debt and Marke_9
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 83,706 | $ 48,023 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 980 | 569 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 26,447 | 76,706 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,986 | 1,709 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 110,153 | 124,729 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 2,966 | $ 2,278 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | 33 | 18 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 17 | 43 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 50 | 61 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 47,369 | $ 18,151 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 719 | 455 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 12,073 | 32,301 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,394 | 723 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 59,442 | 50,452 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 2,113 | 1,178 |
Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 748 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 748 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 2 | |
US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 34 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 34 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 5 | |
US Government-sponsored Enterprises Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 5,693 | 6,173 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 155 | 107 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 5,693 | 6,173 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 155 | 107 |
US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 35,555 | 29,872 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 254 | 114 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 8,681 | 29,462 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 437 | 829 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 44,236 | 59,334 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 691 | 943 |
US Treasury Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 7,167 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 48 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 7,167 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 48 | |
Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,603 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,603 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 2 |
Investments in Debt and Mark_10
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Investment Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Gross Investment Income, Operating | $ 11,871 | $ 15,757 |
Investment Income, Investment Expense | 94 | 114 |
Net Investment Income | 11,777 | 15,643 |
Fixed Maturities | ||
Gross Investment Income, Operating | 11,106 | 14,128 |
Equity Securities | ||
Gross Investment Income, Operating | 146 | 386 |
Cash and Cash Equivalents | ||
Gross Investment Income, Operating | 465 | 1,004 |
Other Long-term Investments | ||
Gross Investment Income, Operating | $ 154 | $ 239 |
Investments in Debt and Mark_11
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]: Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Debt Securities, Available-for-sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment | $ 742 | $ 4,105 |
Equity Securities, FV-NI, Realized Gain (Loss) | 0 | (13) |
Debt and Equity Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment | 742 | 4,092 |
Equity Securities, FV-NI, Unrealized Gain (Loss) | 586 | 613 |
Debt and Equity Securities, Gain (Loss) | 1,328 | 4,705 |
Gain (Loss) on Sale of Other Investments | 18 | 0 |
Gain (Loss) on Investments | $ 1,346 | $ 4,705 |
Investments in Debt and Mark_12
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Details | |||
Available-for-sale Securities, Gross Realized Gains | $ 1,376 | $ 5,144 | |
Available-for-sale Securities, Gross Realized Losses | $ 634 | 1,039 | |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | $ 0 | $ 646 |
Fair Value Disclosures _Text _5
Fair Value Disclosures [Text Block]: Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale | $ 406,649 | $ 384,974 |
Equity Securities, FV-NI | 6,119 | 3,747 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 177,163 | 162,023 |
Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 5,455 | 5,382 |
US Treasury Securities | ||
Debt Securities, Available-for-sale | 51,162 | 50,549 |
US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 34 | |
US Government-sponsored Enterprises Debt Securities | ||
Debt Securities, Available-for-sale | 5,697 | 6,123 |
US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 161,960 | 154,008 |
Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 5,178 | 6,889 |
Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 406,649 | 384,974 |
Equity Securities, FV-NI | 6,119 | 3,747 |
Assets, Fair Value Disclosure | 412,768 | 388,721 |
Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 177,163 | 162,023 |
Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 5,455 | 5,382 |
Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 51,162 | 50,549 |
Fair Value, Recurring | US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 34 | |
Fair Value, Recurring | US Government-sponsored Enterprises Debt Securities | ||
Debt Securities, Available-for-sale | 5,697 | 6,123 |
Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 161,960 | 154,008 |
Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 5,178 | 6,889 |
Fair Value, Recurring | COMMON STOCK, AMOUNT | ||
Equity Securities, FV-NI | 3,411 | 2,864 |
Fair Value, Recurring | Nonredeemable Preferred Stock | ||
Equity Securities, FV-NI | 2,708 | 883 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 0 | 0 |
Equity Securities, FV-NI | 6,119 | 3,747 |
Assets, Fair Value Disclosure | 6,119 | 3,747 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | US Government-sponsored Enterprises Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | COMMON STOCK, AMOUNT | ||
Equity Securities, FV-NI | 3,411 | 2,864 |
Fair Value, Inputs, Level 1 | Fair Value, Recurring | Nonredeemable Preferred Stock | ||
Equity Securities, FV-NI | 2,708 | 883 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 405,314 | 383,445 |
Equity Securities, FV-NI | 0 | 0 |
Assets, Fair Value Disclosure | 405,314 | 383,445 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 177,163 | 162,023 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 5,455 | 5,382 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 51,162 | 50,549 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale | 34 | |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | US Government-sponsored Enterprises Debt Securities | ||
Debt Securities, Available-for-sale | 5,697 | 6,123 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 160,625 | 152,479 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 5,178 | 6,889 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | COMMON STOCK, AMOUNT | ||
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Inputs, Level 2 | Fair Value, Recurring | Nonredeemable Preferred Stock | ||
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | ||
Debt Securities, Available-for-sale | 1,335 | 1,529 |
Equity Securities, FV-NI | 0 | 0 |
Assets, Fair Value Disclosure | 1,335 | 1,529 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | Corporate Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | Collateralized Mortgage Backed Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | US Treasury Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | US Government-sponsored Enterprises Debt Securities | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | US States and Political Subdivisions Debt Securities | ||
Debt Securities, Available-for-sale | 1,335 | 1,529 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | Debt Security, Government, Non-US | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | COMMON STOCK, AMOUNT | ||
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Recurring | Nonredeemable Preferred Stock | ||
Equity Securities, FV-NI | $ 0 | $ 0 |
Fair Value Disclosures _Text _6
Fair Value Disclosures [Text Block]: Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Beginning Balance | $ 1,529 | $ 1,709 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | (23) | (26) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (171) | (154) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Ending Balance | 1,335 | 1,529 |
US States and Political Subdivisions Debt Securities | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Beginning Balance | 1,529 | 1,709 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | (23) | (26) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (171) | (154) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, Ending Balance | $ 1,335 | $ 1,529 |
Fair Value Disclosures _Text _7
Fair Value Disclosures [Text Block] (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Details | |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI | $ (19) |
Fair Value Disclosures _Text _8
Fair Value Disclosures [Text Block]: Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Short-term Investments | $ 2,634 | $ 50 |
Securities Purchased under Agreements to Resell | 49,990 | 107,157 |
Deposit Contracts, Liabilities | 141,376 | 140,951 |
Policyholder Account Balance | 12,001 | 12,049 |
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | ||
Short-term Investments | 2,634 | 50 |
Securities Purchased under Agreements to Resell | 49,990 | 107,157 |
Deposit Contracts, Liabilities | 0 | 0 |
Policyholder Account Balance | 0 | 0 |
Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | ||
Short-term Investments | 0 | 0 |
Securities Purchased under Agreements to Resell | 0 | 0 |
Deposit Contracts, Liabilities | 141,409 | 141,010 |
Policyholder Account Balance | 12,001 | 12,049 |
Reported Value Measurement | ||
Short-term Investments | 2,634 | 50 |
Securities Purchased under Agreements to Resell | 49,990 | 107,157 |
Deposit Contracts, Liabilities | 141,376 | 140,951 |
Policyholder Account Balance | $ 12,789 | $ 12,049 |
Investments in and Advances t_3
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]: Other Investments, Including Variable Interest Entities Table Text Block (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Equity Method Investments | $ 1,958 | $ 10,171 |
Equity Securities without Readily Determinable Fair Value, Amount | 6,250 | 5,000 |
Other Investments and Securities, at Cost | 30 | 37 |
Other Investments | $ 8,238 | $ 15,208 |
Investments in and Advances t_4
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Jul. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income (Loss) from Equity Method Investments | $ 346 | $ 1,304 | ||
Proceeds from Equity Method Investment, Distribution, Return of Capital | $ 3,462 | |||
Equity Method Investments | $ 10,171 | 1,958 | 10,171 | |
Equity Method Investments Aggregate Distributions | 1,772 | |||
Payments to Acquire Other Investments | 1,250 | 8,000 | ||
Equity Securities without Readily Determinable Fair Value, Amount | 5,000 | 6,250 | 5,000 | |
Gain (Loss) on Disposition of Other Assets | 0 | 3,589 | ||
Provision for Loan and Lease Losses | 0 | 4,185 | ||
Ebix Health Exchange Member | Selling, General and Administrative Expenses | ||||
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | 1,652 | 2,180 | ||
FIGO Member | Selling, General and Administrative Expenses | ||||
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | 5,641 | |||
FIGO Member | Premiums Earned Member | ||||
Related Party Transaction, Other Revenues from Transactions with Related Party | 14,826 | |||
Lead Generation Company Member | Selling, General and Administrative Expenses | ||||
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | 1,507 | 6,940 | ||
Other Assets | Ebix Health Exchange Member | ||||
Due from Related Parties | 5 | 0 | 5 | |
Accounts Payable and Accrued Liabilities | Ebix Health Exchange Member | ||||
Due to Related Parties | 250 | 126 | 250 | |
Variable Interest Entity, Not Primary Beneficiary | Other Investments | ||||
Equity Method Investments | 5,075 | 1,958 | 5,075 | |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 1,958 | |||
FIGO Security Owned Not Readily Marketable Member | ||||
Payments to Acquire Other Investments | $ 1,250 | |||
FIGO Pet Insurance LLC Member | ||||
Payments to Acquire Other Investments | 5,000 | |||
PetsBest Member | ||||
Equity Securities without Readily Determinable Fair Value, Amount | 500 | 500 | ||
Gain (Loss) on Disposition of Other Assets | 3,589 | |||
Ebix Health Exchange Holdings Member | ||||
Income (Loss) from Equity Method Investments | (2,713) | |||
Equity Method Investment, Other than Temporary Impairment | 3,712 | 3,712 | ||
Equity Method Investments | $ 0 | 0 | ||
Provision for Loan and Lease Losses | 1,773 | |||
Torchlight Technology Group Member | ||||
Payments to Acquire Equity Method Investments | $ 3,000 |
Business Combination Disclosu_3
Business Combination Disclosure (Details) - USD ($) $ in Thousands | Apr. 30, 2020 | Jan. 31, 2020 | Apr. 30, 2020 | Jan. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Revenues | $ 443,864 | $ 374,448 | ||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 19,118 | 12,689 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,500 | |||||
Abacus | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 56.00% | 56.00% | ||||
Business Combination, Consideration Transferred | $ 2,599 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | $ 1,838 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Loss | 163 | |||||
Goodwill, Acquired During Period | 4,223 | |||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 2,725 | 2,725 | ||||
Payments to Acquire Businesses, Gross | 2,599 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 214 | $ 214 | ||||
Torchlight Technology Group Acquisition Member | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 77.00% | 77.00% | ||||
Business Combination, Consideration Transferred | $ 11,443 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 3,432 | |||||
Goodwill, Acquired During Period | 10,512 | |||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 7,976 | 7,976 | ||||
Payments to Acquire Businesses, Gross | 11,443 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 4,363 | 4,363 | ||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 519 | |||||
Finite-lived Intangible Assets Acquired | 2,700 | |||||
Revenues | 9,651 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ (2,477) | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,700 | $ 2,700 | ||||
Series of Individually Immaterial Business Acquisitions | ||||||
Business Combination, Consideration Transferred | 8,534 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 720 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Loss | 237 | |||||
Goodwill, Acquired During Period | 9,468 | |||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 10,921 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | (214) | |||||
Revenues | 3,876 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | (838) | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 1,500 |
Business Combination Disclosu_4
Business Combination Disclosure: Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Apr. 30, 2020 | Jan. 31, 2020 | Dec. 31, 2019 |
Abacus | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | $ 350 | ||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets | 439 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 789 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 575 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 575 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 214 | ||
Torchlight Technology Group Acquisition Member | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | $ 2,132 | ||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets | 552 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 5,717 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 1,354 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 4,363 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 333 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,700 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | $ 1,354 | ||
Series of Individually Immaterial Business Acquisitions | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | $ 1,341 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 3,423 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 3,637 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 3,637 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | (214) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 582 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,500 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 1,500 |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Goodwill [Table Text Block] (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill, Beginning Balance | $ 60,165 | |
Goodwill, Ending Balance | 74,900 | $ 60,165 |
Specialty Health Segment Member | ||
Goodwill, Beginning Balance | 60,165 | 50,697 |
Goodwill, Acquired During Period | 10,512 | 9,468 |
Goodwill, Ending Balance | 70,677 | 60,165 |
Group Disability, Life, DBL And PFL Segment Member | ||
Goodwill, Beginning Balance | 0 | 0 |
Goodwill, Acquired During Period | 4,223 | 0 |
Goodwill, Ending Balance | $ 4,223 | $ 0 |
Goodwill and Intangible Asset_7
Goodwill and Intangible Assets Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Apr. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Intangible Assets, Net (Excluding Goodwill) | $ 15,146 | $ 13,379 | |
Amortization of Intangible Assets | 1,496 | 1,284 | |
Specialty Health Segment Member | |||
Finite-lived Intangible Assets Acquired | $ 1,500 | ||
Specialty Health Segment Member | Computer Software, Intangible Asset | Pet Insurance Product Line | |||
Finite-lived Intangible Assets Acquired | $ 650 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years | ||
Torchlight Technology Group Acquisition Member | |||
Finite-lived Intangible Assets Acquired | $ 2,700 | ||
Torchlight Technology Group Acquisition Member | Specialty Health Segment Member | |||
Finite-lived Intangible Assets Acquired | $ 2,700 | ||
Torchlight Technology Group Acquisition Member | Specialty Health Segment Member | Customer Relationships | |||
Finite-lived Intangible Assets Acquired | $ 1,200 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||
Torchlight Technology Group Acquisition Member | Specialty Health Segment Member | Computer Software, Intangible Asset | |||
Finite-lived Intangible Assets Acquired | $ 1,500 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 8 years |
Goodwill and Intangible Asset_8
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Finite-Lived Intangible Assets, Gross | $ 16,613 | $ 20,533 |
Finite-Lived Intangible Assets, Accumulated Amortization | 9,444 | 15,131 |
Customer Relationships | ||
Finite-Lived Intangible Assets, Gross | 12,683 | 18,753 |
Finite-Lived Intangible Assets, Accumulated Amortization | 8,273 | 14,474 |
Internet Domain Names | ||
Finite-Lived Intangible Assets, Gross | 1,000 | 1,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | 425 | 325 |
Computer Software, Intangible Asset | ||
Finite-Lived Intangible Assets, Gross | 2,930 | 780 |
Finite-Lived Intangible Assets, Accumulated Amortization | $ 746 | $ 332 |
Goodwill and Intangible Asset_9
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Indefinite-lived Intangible Assets (Excluding Goodwill) | $ 7,977 | $ 7,977 |
Licensing Agreements | ||
Indefinite-lived Intangible Assets (Excluding Goodwill) | $ 7,977 | $ 7,977 |
Goodwill and Intangible Asse_10
Goodwill and Intangible Assets Disclosure [Text Block]: Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Details | |
Finite-Lived Intangible Asset, Expected Amortization, Year One | $ 1,556 |
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 1,380 |
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 1,079 |
Finite-Lived Intangible Asset, Expected Amortization, Year Four | 805 |
Finite-Lived Intangible Asset, Expected Amortization, Year Five | $ 676 |
Lessee, Operating Leases (Detai
Lessee, Operating Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Operating Lease, Right-of-Use Asset | $ 9,454 | $ 6,672 |
Operating Lease, Liability | $ 9,992 | $ 7,243 |
Operating Lease, Weighted Average Discount Rate, Percent | 5.99% | 6.70% |
Lessee, Operating Lease, Renewal Term | 5 years | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years | |
Minimum | ||
Lessee, Operating Lease, Term of Contract | 1 year | |
Maximum | ||
Lessee, Operating Lease, Term of Contract | 8 years |
Lessee, Operating Leases_ Lea_2
Lessee, Operating Leases: Lease, Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Operating Lease, Cost | $ 2,614 | $ 2,277 |
Short-term Lease, Cost | 208 | 194 |
Variable Lease, Cost | 489 | 456 |
Lease, Cost | 3,311 | 2,927 |
Operating Lease, Payments | 2,647 | 2,392 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 4,868 | $ 1,688 |
Lessee, Operating Leases_ Les_2
Lessee, Operating Leases: Lessee, Operating Lease, Liability, Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Details | ||
Lessee, Operating Lease, Liability, Payments, Due Next Rolling Twelve Months | $ 2,624 | |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two | 2,603 | |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three | 1,721 | |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four | 1,448 | |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five | 1,227 | |
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five | 2,002 | |
Lessee, Operating Lease, Liability, to be Paid | 11,625 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 1,633 | |
Operating Lease, Liability | $ 9,992 | $ 7,243 |
Reinsurance _Text Block__ Eff_2
Reinsurance [Text Block]: Effects of Reinsurance (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Direct Premiums Earned | $ 447,679 | $ 393,400 |
Assumed Premiums Earned | 763 | 1,003 |
Ceded Premiums Earned | 50,912 | 55,662 |
Premiums Earned, Net | 397,530 | 338,741 |
Policyholder Benefits and Claims Incurred, Direct | 242,399 | 215,477 |
Policyholder Benefits and Claims Incurred, Assumed | 2,307 | 2,681 |
Policyholder Benefits and Claims Incurred, Ceded | 36,489 | 44,037 |
Policyholder Benefits and Claims Incurred, Net | 208,217 | 174,121 |
Accident and Health Insurance Product Line | ||
Direct Premiums Earned | 305,032 | 287,529 |
Assumed Premiums Earned | 7 | 5 |
Ceded Premiums Earned | 23,741 | 22,538 |
Premiums Earned, Net | 281,298 | 264,996 |
Life and Annuity Insurance Product Line | ||
Direct Premiums Earned | 55,771 | 54,825 |
Assumed Premiums Earned | 756 | 998 |
Ceded Premiums Earned | 27,163 | 33,061 |
Premiums Earned, Net | 29,364 | 22,762 |
Property, Liability and Casualty Insurance Product Line | ||
Direct Premiums Earned | 86,876 | 51,046 |
Assumed Premiums Earned | 0 | 0 |
Ceded Premiums Earned | 8 | 63 |
Premiums Earned, Net | $ 86,868 | $ 50,983 |
Revenue from Contract with Cu_4
Revenue from Contract with Customer: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Insurance Commissions and Fees | $ 24,137 | $ 14,003 |
Commissions | ||
Insurance Commissions and Fees | 13,432 | 1,964 |
Administrative Fees | ||
Insurance Commissions and Fees | 2,349 | 4,805 |
Marketing Fees | ||
Insurance Commissions and Fees | 1,229 | 2,699 |
Enrollment Platform Fees | ||
Insurance Commissions and Fees | 2,020 | 1,890 |
Lead and Referral Fees | ||
Insurance Commissions and Fees | 3,665 | 1,420 |
Payment Plan, Application and Other Fees | ||
Insurance Commissions and Fees | $ 1,442 | $ 1,225 |
Revenue from Contract with Cu_5
Revenue from Contract with Customer (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Accounts Payable and Accrued Liabilities | |
Accrued Sales Commission, Estimated Expected Lifetime Commissions | $ 2,362 |
Revenue from Contract with Cu_6
Revenue from Contract with Customer: Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Details | |
Contract with Customer, Asset, after Allowance for Credit Loss | $ 255 |
Contract with Customer, Asset, Increase (Decrease) for Revenues Recognized During the Year | 13,432 |
Contract with Customer, Asset, Decrease for Cash Received During the Year | (5,840) |
Contract with Customer, Asset, after Allowance for Credit Loss | $ 7,847 |
Liability for Future Policy B_8
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Schedule of Liability for Unpaid Claims and Claims Adjustment Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Liability for Claims and Claims Adjustment Expense, Beginning Balance | $ 164,802 | $ 160,115 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Beginning Balance | 36,993 | 38,122 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Beginning Balance | 127,809 | 121,993 |
Current Year Claims and Claims Adjustment Expense | 220,120 | 196,124 |
Prior Year Claims and Claims Adjustment Expense | (12,734) | (20,294) |
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | 207,386 | 175,830 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year | 125,740 | 115,319 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 66,349 | 54,695 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid | 192,089 | 170,014 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Ending Balance | 143,106 | 127,809 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 36,126 | 36,993 |
Liability for Claims and Claims Adjustment Expense, Ending Balance | 179,232 | 164,802 |
Specialty Health Segment, All Product Lines | ||
Liability for Claims and Claims Adjustment Expense, Beginning Balance | 42,228 | 38,363 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Beginning Balance | 1,717 | 1,335 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Beginning Balance | 40,511 | 37,028 |
Current Year Claims and Claims Adjustment Expense | 89,379 | 82,678 |
Prior Year Claims and Claims Adjustment Expense | (4,283) | (5,879) |
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | 85,096 | 76,799 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year | 57,262 | 49,669 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 26,666 | 23,647 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid | 83,928 | 73,316 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Ending Balance | 41,679 | 40,511 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 1,776 | 1,717 |
Liability for Claims and Claims Adjustment Expense, Ending Balance | 43,455 | 42,228 |
DBL And PFL Product Lines | ||
Liability for Claims and Claims Adjustment Expense, Beginning Balance | 23,438 | 21,080 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Beginning Balance | 664 | 719 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Beginning Balance | 22,774 | 20,361 |
Current Year Claims and Claims Adjustment Expense | 78,443 | 65,452 |
Prior Year Claims and Claims Adjustment Expense | (3,478) | (6,489) |
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | 74,965 | 58,963 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year | 43,949 | 42,803 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 18,971 | 13,747 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid | 62,920 | 56,550 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Ending Balance | 34,819 | 22,774 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 430 | 664 |
Liability for Claims and Claims Adjustment Expense, Ending Balance | 35,249 | 23,438 |
Group Disability Product Line | ||
Liability for Claims and Claims Adjustment Expense, Beginning Balance | 80,079 | 82,222 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Beginning Balance | 23,322 | 24,712 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Beginning Balance | 56,757 | 57,510 |
Current Year Claims and Claims Adjustment Expense | 34,109 | 31,463 |
Prior Year Claims and Claims Adjustment Expense | (1,689) | (5,192) |
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | 32,420 | 26,271 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year | 12,355 | 11,794 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 18,318 | 15,230 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid | 30,673 | 27,024 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Ending Balance | 58,504 | 56,757 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 22,472 | 23,322 |
Liability for Claims and Claims Adjustment Expense, Ending Balance | 80,976 | 80,079 |
Other Short Duration Contract Product Lines | ||
Liability for Claims and Claims Adjustment Expense, Beginning Balance | 19,057 | 18,450 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Beginning Balance | 11,290 | 11,356 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Beginning Balance | 7,767 | 7,094 |
Current Year Claims and Claims Adjustment Expense | 18,189 | 16,531 |
Prior Year Claims and Claims Adjustment Expense | (3,284) | (2,734) |
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | 14,905 | 13,797 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year | 12,174 | 11,053 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 2,394 | 2,071 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid | 14,568 | 13,124 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Ending Balance | 8,104 | 7,767 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 11,448 | 11,290 |
Liability for Claims and Claims Adjustment Expense, Ending Balance | 19,552 | 19,057 |
Specialty Health, Health Insurance Product Lines | ||
Liability for Claims and Claims Adjustment Expense, Beginning Balance | 31,259 | 26,068 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Beginning Balance | 1,113 | 851 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Beginning Balance | 30,146 | 25,217 |
Current Year Claims and Claims Adjustment Expense | 38,602 | 51,479 |
Prior Year Claims and Claims Adjustment Expense | (2,208) | (3,517) |
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | 36,394 | 47,962 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year | 20,659 | 25,738 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 19,352 | 17,295 |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid | 40,011 | 43,033 |
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Ending Balance | 26,529 | 30,146 |
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 1,766 | 1,113 |
Liability for Claims and Claims Adjustment Expense, Ending Balance | $ 28,295 | $ 31,259 |
Liability for Future Policy B_9
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Schedule Of Prior Year Claims And Claims Adjustment Expense Disclosure (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Prior Year Claims and Claims Adjustment Expense | $ (12,734) | $ (20,294) |
Specialty Health, Short-Term Medical Product Line | ||
Prior Year Claims and Claims Adjustment Expense | (1,425) | (1,850) |
Specialty Health, Occupational Accident Product Line | ||
Prior Year Claims and Claims Adjustment Expense | (1,460) | (2,054) |
Specialty Health, Fixed Indemnity Limited Benefit Product Line | ||
Prior Year Claims and Claims Adjustment Expense | 1,280 | (166) |
Specialty Health, Limited Medical Product Line | ||
Prior Year Claims and Claims Adjustment Expense | (407) | (474) |
Specialty Health, Critical Illness Product Line | ||
Prior Year Claims and Claims Adjustment Expense | (434) | (325) |
Specialty Health, Group Gap Product Line | ||
Prior Year Claims and Claims Adjustment Expense | (616) | (132) |
Specialty Health, Pet Insurance Product Line | ||
Prior Year Claims and Claims Adjustment Expense | (618) | (128) |
Specialty Health, Other Specialty Health Product Lines | ||
Prior Year Claims and Claims Adjustment Expense | (603) | (750) |
Specialty Health Segment, All Product Lines | ||
Prior Year Claims and Claims Adjustment Expense | $ (4,283) | $ (5,879) |
Liability for Future Policy _10
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block] (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Prior Year Claims and Claims Adjustment Expense | $ (12,734) | $ (20,294) |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 66,349 | 54,695 |
DBL And PFL Product Lines | ||
Prior Year Claims and Claims Adjustment Expense | (3,478) | (6,489) |
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 34,819 | |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | $ 18,971 | 13,747 |
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 18,000 | |
DBL And PFL Product Lines | Accrued Potential Risk Adjustment | ||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 24,000 | |
Group Disability Product Line | ||
Prior Year Claims and Claims Adjustment Expense | (1,689) | (5,192) |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | 18,318 | 15,230 |
Group Disability Product Line | Insurance Benefits, Claims And Reserves Member | ||
Short-duration Insurance Contracts, Discounted Liabilities, Interest Accretion | $ 1,448 | $ 1,524 |
Group Disability Product Line | Minimum | ||
Short-Duration Contract, Discounted Liability, Discount Rate | 2.50% | 2.50% |
Group Disability Product Line | Maximum | ||
Short-Duration Contract, Discounted Liability, Discount Rate | 6.00% | 6.00% |
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2013 | ||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 2,629 | |
Claims and Claims Adjustment Expenses Assumed | $ 15,384 | |
Specialty Health, Health Insurance Product Lines | ||
Prior Year Claims and Claims Adjustment Expense | (2,208) | $ (3,517) |
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 26,529 | |
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years | $ 19,352 | $ 17,295 |
Liability for Future Policy _11
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short-duration Insurance Contracts, Claims Development (Details) $ in Thousands | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | Dec. 31, 2012USD ($) | Dec. 31, 2011USD ($) |
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | $ 152,609 | |||||||||
Specialty Health Segment, All Product Lines | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 399,943 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 358,801 | |||||||||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 537 | |||||||||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 41,679 | |||||||||
Specialty Health Segment, All Product Lines | Short-duration Insurance Contracts, Accident Year 2016 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 85,759 | $ 85,399 | $ 86,244 | $ 86,466 | $ 85,426 | |||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 798 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 538,115 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 84,961 | 84,238 | 82,983 | 78,611 | 45,454 | |||||
Specialty Health Segment, All Product Lines | Short-duration Insurance Contracts, Accident Year 2017 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 77,379 | 77,194 | 77,214 | 87,070 | ||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 611 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 631,101 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 76,768 | 75,918 | 73,667 | 49,289 | ||||||
Specialty Health Segment, All Product Lines | Short-duration Insurance Contracts, Accident Year 2018 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 71,394 | 69,206 | 74,652 | |||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 3,105 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 673,634 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 68,289 | 64,947 | 46,574 | |||||||
Specialty Health Segment, All Product Lines | Short-Duration Insurance Contract, Accident Year 2019 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 76,032 | 82,926 | ||||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 4,512 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 652,408 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 71,521 | 49,670 | ||||||||
Specialty Health Segment, All Product Lines | Short-Duration Insurance Contract, Accident Year 2020 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 89,379 | |||||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 32,117 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 602,536 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 57,262 | |||||||||
DBL And PFL Product Lines | ||||||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 34,819 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 18,000 | |||||||||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | $ 325 | |||||||||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 34,819 | |||||||||
DBL And PFL Product Lines | Short-Duration Insurance Contract, Accident Year 2020 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 78,443 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 43,949 | |||||||||
Group Disability Product Line | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 231,695 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 172,823 | |||||||||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 9,412 | |||||||||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 68,284 | |||||||||
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2016 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 26,336 | 25,988 | 27,359 | 28,568 | 28,450 | |||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 244 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 3,500 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 21,080 | 20,261 | 19,269 | 16,379 | 8,333 | |||||
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2017 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 22,358 | 22,851 | 26,021 | 29,897 | ||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 481 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 3,783 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 18,339 | 17,901 | 16,139 | 8,459 | ||||||
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2018 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 23,219 | 26,610 | 29,766 | |||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 432 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 4,022 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 18,034 | 16,109 | 8,417 | |||||||
Group Disability Product Line | Short-Duration Insurance Contract, Accident Year 2019 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 33,535 | 34,518 | ||||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 1,786 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 4,303 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 22,755 | 11,794 | ||||||||
Group Disability Product Line | Short-Duration Insurance Contract, Accident Year 2020 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 36,723 | |||||||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 13,120 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 2,991 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 12,355 | |||||||||
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2011 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 16,538 | 16,546 | 16,516 | 16,712 | 16,672 | $ 15,730 | $ 15,271 | $ 16,166 | $ 16,948 | $ 18,558 |
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 2,338 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 13,388 | 12,979 | 12,522 | 11,993 | 11,363 | 10,737 | 10,186 | 9,622 | 8,191 | $ 3,252 |
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2012 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 12,083 | 11,883 | 12,161 | 12,472 | 12,585 | 12,177 | 12,187 | 13,708 | 15,356 | |
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 2,263 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 10,421 | 10,177 | 9,924 | 9,509 | 8,997 | 8,591 | 8,003 | 7,003 | $ 3,069 | |
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2013 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 31,058 | 31,545 | 31,378 | 31,664 | 32,070 | 29,893 | 30,832 | 32,952 | ||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 2,629 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 26,245 | 25,029 | 23,460 | 21,536 | 19,428 | 16,424 | 12,541 | $ 5,454 | ||
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2014 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 14,670 | 14,488 | 14,311 | 14,414 | 14,792 | 13,322 | 16,314 | |||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 456 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 2,783 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 12,089 | 11,661 | 11,142 | 10,623 | 9,919 | 8,466 | $ 3,663 | |||
Group Disability Product Line | Short-duration Insurance Contracts, Accident Year 2015 | ||||||||||
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 15,175 | 14,552 | 14,705 | 16,630 | 19,247 | 25,335 | ||||
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | $ 172 | |||||||||
Short-duration Insurance Contract, Cumulative Number of Reported Claims | 3,254 | |||||||||
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 18,117 | $ 17,623 | $ 17,203 | $ 16,634 | $ 14,034 | $ 6,825 |
Liability for Future Policy _12
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short-duration Insurance Contracts, Schedule of Historical Claims Duration (Details) | Dec. 31, 2020 |
Specialty Health Segment, All Product Lines | |
Short-duration Insurance Contracts, Historical Claims Duration, Year One | 62.30% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 31.20% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 4.20% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 1.30% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 0.80% |
Group Disability Product Line | |
Short-duration Insurance Contracts, Historical Claims Duration, Year One | 16.70% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 18.10% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 5.80% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 2.70% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 2.00% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 1.80% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 1.40% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 0.90% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 0.60% |
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 0.40% |
Liability for Future Policy _13
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short Duration Insurance Contracts, Discounted Liabilities Table Text Block (Details) - Group Disability Product Line - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Short-Duration Contracts, Discounted Liabilities, Amount | $ 58,504 | $ 56,756 |
Short-duration Insurance Contract, Discounted Liability, Discount | $ 9,780 | $ 10,382 |
Liability for Future Policy _14
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]: Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | $ 152,609 | ||
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 36,126 | $ 36,993 | $ 38,122 |
Liability for Claims and Claims Adjustment Expense | 179,232 | 164,802 | 160,115 |
Specialty Health Segment, All Product Lines | |||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 41,679 | ||
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 1,776 | 1,717 | 1,335 |
Liability for Claims and Claims Adjustment Expense | 43,455 | 42,228 | 38,363 |
DBL And PFL Product Lines | |||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 34,819 | ||
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 430 | 664 | 719 |
Liability for Claims and Claims Adjustment Expense | 35,249 | 23,438 | 21,080 |
Group Disability Product Line | |||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 68,284 | ||
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 22,472 | 23,322 | 24,712 |
Short-duration Insurance Contract, Discounted Liability, Discount | 9,780 | 10,382 | |
Liability for Claims and Claims Adjustment Expense | 80,976 | 80,079 | 82,222 |
Short-Duration Insurance, Other | |||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 7,827 | ||
Other Short Duration Contract Product Lines | |||
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments, Ending Balance | 11,448 | 11,290 | 11,356 |
Liability for Claims and Claims Adjustment Expense | 19,552 | $ 19,057 | $ 18,450 |
Long-Duration Insurance, Other | |||
Short-duration Insurance Contracts, Liability for Unpaid Claims and Claim Adjustment Expense, Other Reconciling Item | 277 | ||
Group Disability Product Lines | |||
Short-duration Insurance Contract, Discounted Liability, Discount | $ 9,780 |
Income Tax Disclosure _Text B_5
Income Tax Disclosure [Text Block]: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Details | ||
Current Federal Tax Expense (Benefit) | $ 6,544 | $ 4,498 |
Current State and Local Tax Expense (Benefit) | 250 | 729 |
Current Income Tax Expense (Benefit) | 6,794 | 5,227 |
Deferred Federal Income Tax Expense (Benefit) | 5,052 | 8,334 |
Deferred State and Local Income Tax Expense (Benefit) | (1,114) | (902) |
Deferred Income Tax Expense (Benefit) | 3,938 | 7,432 |
Income Tax Expense (Benefit) | $ 10,732 | $ 12,659 |
Income Tax Disclosure _Text B_6
Income Tax Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||
Income Taxes Paid, Net | $ 505 | $ 966 | |
AMIC Holdiings | Domestic Tax Authority | |||
Operating Loss Carryforwards | [1] | 46,669 | 114,531 |
AMICSubsidiariesMember | |||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 4,492 | $ 7,900 | |
[1] | Which expire in varying amounts through 2034, a significant portion expires in 2020. |
Income Tax Disclosure _Text B_7
Income Tax Disclosure [Text Block]: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ 6,269 | $ 5,323 |
Income Tax Reconciliation, Tax Exempt Income and Dividends Received Deduction | 132 | 128 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | (683) | (132) |
Effective Income Tax Rate Reconciliation, Health Insurer Compensation Limit | 456 | 583 |
Effective Income Tax Reconciliation, Regulatory Settlement Payments | 776 | 0 |
Income Tax Reconciliation Deductions for Sharebased Compensation | 75 | 993 |
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | (371) | 106 |
Income Tax Expense (Benefit) | 10,732 | 12,659 |
AMICSubsidiariesMember | ||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 4,492 | $ 7,900 |
Income Tax Disclosure _Text B_8
Income Tax Disclosure [Text Block]: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Impairment Losses | $ 48 | $ 48 |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 9,361 | 23,612 |
Deferred Tax Assets, Capital Loss Carryforwards | 677 | 0 |
Deferred Tax Assets, Other | 5,984 | 3,323 |
Deferred Tax Assets, Gross | 16,070 | 26,983 |
Deferred Tax Assets, Net of Valuation Allowance | 7,789 | 9,771 |
Deferred Tax Liabilities, Tax Deferred Expense, Reserves and Accruals, Policyholder Liabilities | 2,309 | 2,459 |
Deferred Tax Liabilities, Goodwill and Intangible Assets | 2,324 | 2,341 |
Deferred Tax Liabilities, Investments | 1,145 | 338 |
Deferred Tax Liabilities, Other | 2,015 | 688 |
Deferred Tax Liabilities, Gross | 7,793 | 5,826 |
Total Deferred Tax Asset(Liability), Net | (4) | 3,945 |
AMICSubsidiariesMember | ||
Deferred Tax Assets, Valuation Allowance | $ 8,281 | $ 17,212 |
Stockholders' Equity Note Dis_4
Stockholders' Equity Note Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Aug. 31, 2016 | |
Treasury Stock, Shares, Acquired | 244,487 | 108,646 | |
Treasury Stock, Value, Acquired, Cost Method | $ 7,534 | $ 4,051 | |
Treasury Stock | |||
Treasury Stock, Shares, Acquired | 244,487 | 108,646 | |
Treasury Stock, Value, Acquired, Cost Method | $ 7,534 | $ 4,051 | |
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture | 22,593 | 95,339 | |
Tender Offer | |||
Treasury Stock, Shares, Acquired | 36,377 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 982 | ||
IhcShareRepurchaseProgramMember | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 3,000,000 | ||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 1,538,991 |
Stockholders' Equity Note Dis_5
Stockholders' Equity Note Disclosure [Text Block]: Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ 1,212 | |
Other Comprehensive Income (Loss), Net of Tax | 2,985 | $ 9,522 |
Accumulated other comprehensive income (loss) | 4,197 | 1,212 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 1,212 | (8,310) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 3,572 | 12,246 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 587 | 2,724 |
Other Comprehensive Income (Loss), Net of Tax | 2,985 | 9,522 |
Accumulated other comprehensive income (loss) | $ 4,197 | $ 1,212 |
Stockholders' Equity Note Dis_6
Stockholders' Equity Note Disclosure [Text Block]: Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Gain (Loss) on Investments | $ 1,346 | $ 4,705 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Recognized in Earnings | 0 | 646 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 29,850 | 25,348 |
Income Tax Expense (Benefit) | 10,732 | 12,659 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 19,118 | 12,689 |
Reclassification out of Accumulated Other Comprehensive Income | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||
Gain (Loss) on Investments | 742 | 4,105 |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Recognized in Earnings | 0 | (646) |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 742 | 3,459 |
Income Tax Expense (Benefit) | 155 | 735 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 587 | $ 2,724 |
Compensation and Employee Ben_7
Compensation and Employee Benefit Plans [Text Block] (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 368,599 | |
Proceeds from Stock Options Exercised | $ 179 | $ 269 |
Payment, Tax Withholding, Share-based Payment Arrangement | $ 81 | $ 2,397 |
Share-based Payment Arrangement, Option | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 9.31 | $ 8.31 |
Proceeds from Stock Options Exercised | $ 179 | $ 269 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 374 | 5,207 |
Share-based Payment Arrangement, Exercise of Option, Tax Benefit | 63 | 970 |
Payment, Tax Withholding, Share-based Payment Arrangement | 81 | $ 2,397 |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 1,441 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 1 month 6 days | |
Share-based Payment Arrangement, Option | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |
Stock Appreciation Rights (SARs) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 64,900 | 64,900 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 0 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised | 0 | 0 |
Stock Appreciation Rights (SARs) | Accounts Payable and Accrued Liabilities | ||
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 979 | $ 717 |
Stock Appreciation Rights (SARs) | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |
Restricted Stock Units (RSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 2 months 12 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,900 | 9,900 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.62 | $ 40.01 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 352 | $ 389 |
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 763 |
Compensation and Employee Ben_8
Compensation and Employee Benefit Plans [Text Block]: Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Expense, Tax Benefit | $ 639 | $ 720 |
Share-based Payment Arrangement, Expense, after Tax | 1,735 | 1,954 |
Selling, General and Administrative Expenses | ||
Share-based Payment Arrangement, Expense | 2,374 | 2,674 |
Share-based Payment Arrangement, Option | Selling, General and Administrative Expenses | ||
Share-based Payment Arrangement, Expense | 1,754 | 1,940 |
Restricted Stock Units (RSUs) | Selling, General and Administrative Expenses | ||
Share-based Payment Arrangement, Expense | 358 | 292 |
Stock Appreciation Rights (SARs) | Selling, General and Administrative Expenses | ||
Share-based Payment Arrangement, Expense | $ 262 | $ 442 |
Compensation and Employee Ben_9
Compensation and Employee Benefit Plans [Text Block]: Schedule of Share-based Compensation, Stock Options, Activity (Details) - Share-based Payment Arrangement, Option | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | shares | 785,047 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 31.54 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 25,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 40.20 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | 23,667 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | $ 20.20 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | shares | 786,380 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | $ 32.16 |
Compensation and Employee Be_10
Compensation and Employee Benefit Plans [Text Block]: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Share-based Payment Arrangement, Option | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.24% | 2.32% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.32% | 1.22% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 34.17% | 28.97% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years 6 months | 3 years 6 months |
Compensation and Employee Be_11
Compensation and Employee Benefit Plans [Text Block]: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Details) - Share-based Payment Arrangement, Option $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | shares | 786,380 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | shares | 469,130 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares | $ 32.16 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ / shares | $ 28.55 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ | $ 6,952 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $ | $ 5,839 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 year 7 months 6 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 1 year 6 months |
Compensation and Employee Be_12
Compensation and Employee Benefit Plans [Text Block]: Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity (Details) - Restricted Stock Units (RSUs) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 19,800 | 19,800 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 41.06 | $ 37.54 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,900 | 9,900 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.62 | $ 40.01 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 9,900 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 35.57 |
Contingencies Disclosure _Tex_2
Contingencies Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Oct. 31, 2020 | Sep. 30, 2020 | May 31, 2017 | Sep. 30, 2020 | |
Accounts Payable and Accrued Liabilities | ||||
Loss Contingency Accrual, Provision | $ 3,660 | |||
Loss Contingency Accrual, Payments | $ 3,660 | |||
Other Income | ||||
Gain (Loss) Related to Litigation Settlement | $ 5,641 | |||
Pending Litigation | Loss Contingency, Nature, Amounts Allegedly Owed To Plaintiff Member | ||||
Loss Contingency, Damages Sought, Value | $ 3,082 |
Concentration Risk Disclosure_3
Concentration Risk Disclosure [Text Block] (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Assets Held by Insurance Regulators | $ 13,763 | $ 13,359 | |
Credit Concentration Risk | |||
Fair Value, Concentration of Risk, Investments | [1] | $ 0 | |
Credit Concentration Risk | Stockholders' Equity, Total | |||
Concentration Risk, Percentage | 10.00% | ||
Reinsurer Concentration Risk | Stockholders' Equity, Total | |||
Concentration Risk, Percentage | 10.00% | ||
[1] | Except for investments in obligations of the U.S. Government and its agencies and mortgage-backed securities issued by GSEs. |
Concentration Risk Disclosure_4
Concentration Risk Disclosure [Text Block]: Ceded Credit Risk [Table Text Block] (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Reinsurance Recoverables, Including Reinsurance Premium Paid | $ 357,205 | $ 362,969 |
CededCreditRiskReinsurerNationalGuardianLifeInsuranceCompanyMember | AM Best, A- Rating | ||
Reinsurance Recoverables, Including Reinsurance Premium Paid | 214,687 | |
CededCreditRiskReinsurerGuggenheimLifeAndAnnuityCompanyMember | AM Best, B++ Rating | ||
Reinsurance Recoverables, Including Reinsurance Premium Paid | $ 91,819 |
Dividend Payment Restrictions_3
Dividend Payment Restrictions [Text Block] (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 27,872 | |
Common Stock, Dividends, Per Share, Declared | $ 0.44 | $ 0.40 |
Dividends, Common Stock, Cash | $ 6,472 | $ 5,963 |
Statutory Accounting Practices, Dividends Paid with Approval of Regulatory Agency | 0 | 165,472 |
MadisonNationalLifeSubsidiariesMember | ||
Payments of Dividends | 8,300 | 0 |
StandardSecurityLifeSubsidiariesMember | ||
Payments of Dividends | 5,200 | 0 |
IndependenceAmericanSubsidiariesMember | ||
Payments of Dividends | $ 10,000 | $ 18,000 |
Dividend Payment Restrictions_4
Dividend Payment Restrictions [Text Block]: Statutory Accounting Practices Disclosure (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
MadisonNationalLifeSubsidiariesMember | ||
Statutory Accounting Practices, Statutory Net Income Amount | $ 14,360 | $ 16,460 |
Statutory Accounting Practices, Statutory Capital and Surplus, Balance | 86,105 | 83,256 |
StandardSecurityLifeSubsidiariesMember | ||
Statutory Accounting Practices, Statutory Net Income Amount | 12,902 | 5,246 |
Statutory Accounting Practices, Statutory Capital and Surplus, Balance | 64,604 | 57,069 |
IndependenceAmericanSubsidiariesMember | ||
Statutory Accounting Practices, Statutory Net Income Amount | 13,354 | 19,030 |
Statutory Accounting Practices, Statutory Capital and Surplus, Balance | $ 88,204 | $ 84,533 |
Segment Reporting Disclosure _3
Segment Reporting Disclosure [Text Block]: Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 443,864 | $ 374,448 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 29,850 | 25,348 | |
Provision for Loan and Lease Losses | 0 | 4,185 | |
Income (Loss) from Equity Method Investments | 346 | 1,304 | |
Assets, Total | $ 1,054,303 | 1,083,156 | 1,054,303 |
Ebix Health Exchange Holdings Member | |||
Equity Method Investment, Other than Temporary Impairment | 3,712 | 3,712 | |
Provision for Loan and Lease Losses | 1,773 | ||
Income (Loss) from Equity Method Investments | (2,713) | ||
Operating Segments | |||
Revenues | 442,518 | 370,389 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 28,504 | 21,289 | |
Segment Reconciling Items | Gain (Loss) on Investments | |||
Revenues | 1,346 | 4,705 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 1,346 | 4,705 | |
Segment Reconciling Items | Net Impairment Losses Recognized In Earnings | |||
Revenues | 0 | (646) | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 0 | (646) | |
Specialty Health Segment Member | |||
Revenues | 224,101 | 193,823 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 4,322 | 7,757 | |
Arbitration Award | 5,641 | ||
Loss Contingency Accrual, Provision | 3,660 | ||
Assets, Total | 223,679 | 235,925 | 223,679 |
Specialty Health Segment Member | Unaffiliated Company | |||
Provision for Loan and Lease Losses | 2,412 | ||
Specialty Health Segment Member | Ebix Health Exchange Holdings Member | |||
Equity Method Investment, Other than Temporary Impairment | 3,712 | ||
Provision for Loan and Lease Losses | 1,773 | ||
Income (Loss) from Equity Method Investments | (2,713) | ||
Group disability, life, DBL and PFL | |||
Revenues | 214,769 | 169,038 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 33,156 | 21,809 | |
Assets, Total | 324,139 | 349,263 | 324,139 |
Individual life annuities and other Segment Member | |||
Revenues | 2,411 | 1,675 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 74 | (1,129) | |
Amortization of Other Deferred Charges | 720 | 788 | |
Assets, Total | 361,466 | 340,494 | 361,466 |
Corporate Segment | |||
Revenues | 1,237 | 5,853 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (9,048) | (7,148) | |
Assets, Total | $ 145,019 | $ 157,474 | $ 145,019 |
Summary of Investments, Other_3
Summary of Investments, Other than Investments in Related Parties: Summary Of Investments Other Than Investments In Related Parties Table Text Block (Details) $ in Thousands | Dec. 31, 2020USD ($) |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | $ 469,887 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 473,630 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 473,630 |
US Treasury and Government | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 56,223 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 56,893 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 56,893 |
US States and Political Subdivisions Debt Securities | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 159,421 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 161,960 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 161,960 |
Foreign Government Debt | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 4,907 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 5,178 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 5,178 |
Public Utility, Bonds | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 28,008 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 28,967 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 28,967 |
Other Corporate Bonds | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 152,748 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 153,651 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 153,651 |
Fixed Maturities | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 401,307 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 406,649 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 406,649 |
Industrial, Miscellaneous, and All Others | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 2,612 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 3,411 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 3,411 |
Nonredeemable Preferred Stock | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 2,637 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 2,708 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 2,708 |
Equity Securities | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 5,249 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 6,119 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 6,119 |
Short-term Investments | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 52,624 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 52,624 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | 52,624 |
Other Long-term Investments | |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Cost | 10,707 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Fair Value | 8,238 |
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties, Amount | $ 8,238 |
Condensed Financial Informati_5
Condensed Financial Information of Parent Company Only Disclosure: Condensed Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents, at Carrying Value | $ 72,089 | $ 21,094 | |
Securities Purchased under Agreements to Resell | 49,990 | 107,157 | |
Debt Securities, Available-for-sale | 406,649 | 384,974 | |
Equity Method Investments | 1,958 | 10,171 | |
Other Assets | 76,150 | 72,695 | |
Assets, Total | 1,083,156 | 1,054,303 | |
Other Liabilities | 63,682 | 61,049 | |
Liabilities | 611,038 | 592,354 | |
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 2,312 | 2,237 | |
Preferred Stock, Value, Issued | 0 | 0 | |
Common Stock, Value, Issued | 18,625 | 18,625 | |
Additional Paid in Capital, Common Stock | 124,757 | 122,717 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 4,197 | 1,212 | |
Treasury stock, at cost; 3,982,411 and 3,760,517 shares | (77,088) | (69,724) | |
Retained Earnings (Accumulated Deficit) | 399,273 | 386,864 | |
TOTAL IHC STOCKHOLDERS' EQUITY | 469,764 | 459,694 | |
Stockholders' Equity Attributable to Noncontrolling Interest | 42 | 18 | |
TOTAL EQUITY | 469,806 | 459,712 | $ 451,431 |
TOTAL LIABILITIES AND EQUITY | $ 1,083,156 | $ 1,054,303 | |
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 | |
Preferred Stock, Shares Authorized | 100,000 | 100,000 | |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 | |
Common Stock, Shares Authorized | 23,000,000 | 23,000,000 | |
Common Stock, Shares, Issued | 18,625,458 | 18,625,458 | |
Common Stock, Shares, Outstanding | 14,643,047 | 14,864,941 | |
Treasury Stock, Shares | 3,982,411 | 3,760,517 | |
Parent Company | |||
Cash and Cash Equivalents, at Carrying Value | $ 10,852 | $ 895 | $ 2,700 |
Securities Purchased under Agreements to Resell | 14,780 | 39,438 | |
Debt Securities, Available-for-sale | 20,324 | 3,260 | |
Equity Method Investments | 435,376 | 428,014 | |
Income Taxes Receivable | 11,389 | 9,307 | |
Deferred Income Tax Assets, Net | 1,157 | 1,517 | |
Other Assets | 821 | 461 | |
Assets, Total | 494,699 | 482,892 | |
Other Liabilities | 12,684 | 11,491 | |
Due to Affiliate | 6,596 | 6,449 | |
Dividends Payable | 3,301 | 3,003 | |
Liabilities | 22,581 | 20,943 | |
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 2,312 | 2,237 | |
Preferred Stock, Value, Issued | 0 | 0 | |
Common Stock, Value, Issued | 18,625 | 18,625 | |
Additional Paid in Capital, Common Stock | 124,757 | 122,717 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 4,197 | 1,212 | |
Treasury stock, at cost; 3,982,411 and 3,760,517 shares | (77,088) | (69,724) | |
Retained Earnings (Accumulated Deficit) | 399,273 | 386,864 | |
TOTAL IHC STOCKHOLDERS' EQUITY | 469,764 | 459,694 | |
Stockholders' Equity Attributable to Noncontrolling Interest | 42 | 18 | |
TOTAL EQUITY | 469,806 | 459,712 | |
TOTAL LIABILITIES AND EQUITY | $ 494,699 | $ 482,892 | |
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 | |
Preferred Stock, Shares Authorized | 100,000 | 100,000 | |
Preferred Stock, Shares Issued | 0 | 0 | |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 | |
Common Stock, Shares Authorized | 23,000,000 | 23,000,000 | |
Common Stock, Shares, Issued | 18,625,458 | 18,625,458 | |
Common Stock, Shares, Outstanding | 14,643,047 | 14,864,941 | |
Treasury Stock, Shares | 3,982,411 | 3,760,517 |
Condensed Financial Informati_6
Condensed Financial Information of Parent Company Only Disclosure: Condensed Income Statement (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net Investment Income | $ 11,777 | $ 15,643 |
Gain (Loss) on Investments | 1,346 | 4,705 |
Other Income | 9,074 | 2,002 |
Revenues | 443,864 | 374,448 |
Income (Loss) from Equity Method Investments | 346 | 1,304 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 29,850 | 25,348 |
Income Tax Expense (Benefit) | 10,732 | 12,659 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 19,118 | 12,689 |
Net Income (Loss) Attributable to Noncontrolling Interest | (237) | (293) |
Net Income (Loss) Attributable to Parent | 18,881 | 12,396 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | 2,985 | 9,522 |
Other Comprehensive Income (Loss), Net of Tax | 2,985 | 9,522 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 22,103 | 22,211 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | (237) | (293) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 21,866 | 21,918 |
Parent Company | ||
Net Investment Income | 459 | 738 |
Gain (Loss) on Investments | (19) | 130 |
Other Income | (150) | 1,461 |
Revenues | 290 | 2,329 |
General and Administrative Expense | 8,694 | 9,352 |
Operating Expenses | 8,694 | 9,352 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (8,404) | (7,023) |
Income (Loss) from Equity Method Investments | 26,138 | 19,061 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 17,734 | 12,038 |
Income Tax Expense (Benefit) | (1,384) | (651) |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 19,118 | 12,689 |
Net Income (Loss) Attributable to Noncontrolling Interest | (237) | (293) |
Net Income (Loss) Attributable to Parent | 18,881 | 12,396 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | (80) | 164 |
Equity in unrealized gains (losses) on available-for-sale securities of subsidiaries | 3,065 | 9,358 |
Other Comprehensive Income (Loss), Net of Tax | 2,985 | 9,522 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 22,103 | 22,211 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | (237) | (293) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 21,866 | $ 21,918 |
Condensed Financial Informati_7
Condensed Financial Information of Parent Company Only Disclosure: Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 19,118 | $ 12,689 |
Income (Loss) from Equity Method Investments | (346) | (1,304) |
Other Noncash Income (Expense) | 4,468 | 3,326 |
Increase (Decrease) in Income Taxes Payable, Net of Income Taxes Receivable | 4,092 | 2,285 |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | (2,164) | (1,956) |
Net Cash Provided by (Used in) Operating Activities | 51,422 | 39,174 |
Proceeds from (Payments for) Securities Purchased under Agreements to Resell | 57,167 | (95,094) |
Payments to Acquire Debt Securities, Available-for-sale | (194,314) | (168,540) |
Proceeds from Sale of Debt Securities, Available-for-sale | 39,388 | 161,239 |
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | 133,721 | 86,460 |
Other investing activities | 3,620 | 3,491 |
Net Cash Provided by (Used in) Investing Activities | 13,116 | (27,137) |
Payments for Repurchase of Common Stock | (7,534) | (4,057) |
Payments of Ordinary Dividends, Common Stock | (6,222) | (5,231) |
Proceeds from Stock Options Exercised | 179 | 269 |
Payment, Tax Withholding, Share-based Payment Arrangement | (81) | (2,397) |
Net Cash Provided by (Used in) Financing Activities | (14,376) | (18,213) |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 21,094 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 72,089 | 21,094 |
Parent Company | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 19,118 | 12,689 |
Income (Loss) from Equity Method Investments | (26,138) | (19,061) |
Other Noncash Income (Expense) | 4,105 | 3,247 |
Increase (Decrease) in Income Taxes Payable, Net of Income Taxes Receivable | (2,082) | (17,793) |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | (503) | (48) |
Net Cash Provided by (Used in) Operating Activities | (5,500) | (20,966) |
Change In Investments In and Advances To Subsidiaries | 21,848 | 34,544 |
Proceeds from (Payments for) Securities Purchased under Agreements to Resell | 24,658 | (39,438) |
Payments to Acquire Debt Securities, Available-for-sale | (28,693) | (1,154) |
Proceeds from Sale of Debt Securities, Available-for-sale | 0 | 8,432 |
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | 11,284 | 28,193 |
Other investing activities | (18) | 0 |
Net Cash Provided by (Used in) Investing Activities | 29,115 | 30,577 |
Payments for Repurchase of Common Stock | (7,534) | (4,057) |
Payments of Ordinary Dividends, Common Stock | (6,222) | (5,231) |
Proceeds from Stock Options Exercised | 179 | 269 |
Payment, Tax Withholding, Share-based Payment Arrangement | (81) | (2,397) |
Net Cash Provided by (Used in) Financing Activities | (13,658) | (11,416) |
Cash and Cash Equivalents, Period Increase (Decrease) | 9,957 | (1,805) |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 895 | 2,700 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 10,852 | 895 |
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Consolidated Subsidiaries | 21,702 | 53,129 |
Restricted Cash | 0 | 0 |
Parent Company | Subsidiaries | ||
Increase (Decrease) in Income Taxes Payable | $ 0 | $ (17,086) |
Supplementary Insurance Infor_3
Supplementary Insurance Information, for Insurance Companies Disclosure: Supplementary Insurance Information For Insurance Companies Disclosure Table Text Block (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Deferred Policy Acquisition Cost | $ 0 | $ 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense | 518,694 | 506,958 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Unearned Premium | 12,789 | 7,282 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue | 397,530 | 338,741 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income | 11,777 | 15,643 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses | 208,217 | 174,121 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense | 205,797 | 174,979 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Written | 403,019 | 340,458 |
Selling, General and Administrative Expenses | ||
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Cost | 1,160 | 1,036 |
Specialty Health Segment Member | ||
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense | 43,632 | 42,495 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Unearned Premium | 6,063 | 3,110 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue | 190,755 | 177,991 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income | 2,617 | 4,330 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses | 84,219 | 75,539 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense | 135,560 | 110,527 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Written | 193,710 | 177,438 |
Group disability, life, DBL and PFL | ||
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense | 160,245 | 146,080 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Unearned Premium | 6,553 | 4,000 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue | 206,712 | 160,702 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income | 7,111 | 7,774 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses | 123,263 | 97,335 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense | 58,350 | 49,894 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Written | 209,246 | 162,972 |
Individual life annuities and other Segment Member | ||
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense | 314,817 | 318,383 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Unearned Premium | 173 | 172 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue | 63 | 48 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income | 898 | 1,300 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses | 735 | 1,247 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense | 1,602 | 1,557 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Written | 63 | 48 |
Corporate Segment | ||
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Unearned Premium | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income | 1,151 | 2,239 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Cost | 0 | 0 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense | 10,285 | 13,001 |
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Written | $ 0 | $ 0 |
Supplemental Schedule of Rein_3
Supplemental Schedule of Reinsurance Premiums for Insurance Companies: Supplemental Schedule Of Reinsurance Premiums For Insurance Companies Table Text Block (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Gross | $ 15,534,807 | $ 14,935,361 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Assumed | 6,003 | 6,298 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Ceded | 4,842,171 | 6,553,251 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Net | $ 10,698,639 | $ 8,388,408 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Percentage Assumed to Net | 0.10% | 0.10% |
Direct Premiums Earned | $ 447,679 | $ 393,400 |
Assumed Premiums Earned | 763 | 1,003 |
Ceded Premiums Earned | 50,912 | 55,662 |
Premiums Earned, Net | $ 397,530 | $ 338,741 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Premium, Percentage Assumed to Net | 0.20% | 0.30% |
Accident and Health Insurance Product Line | ||
Direct Premiums Earned | $ 305,032 | $ 287,529 |
Assumed Premiums Earned | 7 | 5 |
Ceded Premiums Earned | 23,741 | 22,538 |
Premiums Earned, Net | $ 281,298 | $ 264,996 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Premium, Percentage Assumed to Net | 0.00% | 0.00% |
Life and Annuity Insurance Product Line | ||
Direct Premiums Earned | $ 55,771 | $ 54,825 |
Assumed Premiums Earned | 756 | 998 |
Ceded Premiums Earned | 27,163 | 33,061 |
Premiums Earned, Net | $ 29,364 | $ 22,762 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Premium, Percentage Assumed to Net | 2.60% | 4.40% |
Property, Liability and Casualty Insurance Product Line | ||
Direct Premiums Earned | $ 86,876 | $ 51,046 |
Assumed Premiums Earned | 0 | 0 |
Ceded Premiums Earned | 8 | 63 |
Premiums Earned, Net | $ 86,868 | $ 50,983 |
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Premium, Percentage Assumed to Net | 0.00% | 0.00% |