AMERISAFE (AMSF) 10-Q25 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Oct. 18, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	AMSF
Entity Registrant Name	AMERISAFE, INC.
Entity Central Index Key	0001018979
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-12251
Entity Tax Identification Number	75-2069407
Entity Address, Address Line One	2301 Highway 190 West
Entity Address, City or Town	DeRidder
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70634
City Area Code	337
Local Phone Number	463-9052
Entity Common Stock, Shares Outstanding		19,049,970
Entity Incorporation, State or Country Code	TX
Title of 12(b) Security	Common
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments:
Fixed maturity securities-held-to-maturity, at amortized cost net of allowance for credit losses of $136 and $182 in 2024 and 2023, respectively, (fair value $430,353 and $473,092 in 2024 and 2023, respectively)	$ 436,369	$ 483,575
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	315,114	317,064
Equity securities, at fair value (cost $36,020 and $44,046 in 2024 and 2023, respectively)	57,712	57,147
Short-term investments	26,337	0
Total investments	835,532	857,786
Cash and cash equivalents	63,663	38,682
Amounts recoverable from reinsurers (net of allowance for credit losses of $330 and $360 in 2024 and 2023, respectively)	128,963	129,963
Premiums receivable (net of allowance for credit losses of $4,486 and $4,674 in 2024 and 2023, respectively)	152,945	132,861
Deferred income taxes	19,499	20,403
Accrued interest receivable	8,192	8,274
Property and equipment, net	6,131	6,349
Deferred policy acquisition costs	20,148	17,975
Federal income tax recoverable	2,759	1,781
Other assets	16,895	15,088
Total assets	1,254,727	1,229,162
Liabilities:
Reserves for loss and loss adjustment expenses	663,486	673,994
Unearned premiums	131,994	116,585
Amounts held for others	50,262	53,694
Policyholder deposits	33,704	34,522
Insurance-related assessments	16,841	16,896
Accounts payable and other liabilities	39,898	41,020
Payable for investments purchased	4,171
Total liabilities	940,356	936,711
Shareholders’ equity:
Common stock: voting-$0.01 par value authorized shares-50,000,000 in 2024 and 2023; 20,732,821 and 20,704,448 shares issued; and 19,049,970 and 19,135,008 shares outstanding in 2024 and 2023, respectively	207	207
Additional paid-in capital	223,605	222,078
Treasury stock, at cost (1,682,851 and 1,569,440 shares in 2024 and 2023)	(42,050)	(36,929)
Accumulated earnings	135,284	114,289
Accumulated other comprehensive loss, net	(2,675)	(7,194)
Total shareholders’ equity	314,371	292,451
Total liabilities and shareholders’ equity	$ 1,254,727	$ 1,229,162

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Fixed maturity securities, held-to-maturity, allowance for credit losses	$ 136	$ 182
Fixed maturity securities, fair value	430,353	473,092
Fixed maturity securities, available-for-sale, allowance for credit losses	0	0
Fixed maturity securities, amortized cost	318,495	326,171
Equity securities, cost	36,020	44,046
Amounts recoverable from reinsurers, allowance for credit losses	330	360
Premiums receivable, allowance for credit losses	$ 4,486	$ 4,674
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	20,732,821	20,704,448
Common stock, shares outstanding	19,049,970	19,135,008
Treasury stock, shares	1,682,851	1,569,440

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Gross premiums written	$ 74,940	$ 70,840	$ 231,442	$ 225,031
Ceded premiums written	(3,951)	(4,112)	(11,904)	(12,256)
Net premiums written	70,989	66,728	219,538	212,775
Net premiums earned	67,050	66,634	204,129	201,413
Net investment income	7,485	8,105	22,298	23,262
Net realized gains (losses) on investments	158	5,133	(181)	5,466
Net unrealized gains (losses) on equity securities	3,873	(7,309)	8,591	(3,892)
Fee and other income	129	77	177	488
Total revenues	78,695	72,640	235,014	226,737
Expenses
Loss and loss adjustment expenses incurred	39,150	37,154	119,765	111,808
Underwriting and certain other operating costs	7,866	9,494	20,450	22,077
Commissions	5,639	5,975	17,438	17,623
Salaries and benefits	7,747	6,902	22,491	19,625
Policyholder dividends	513	804	2,634	2,225
Provision for investment related credit loss benefit	(13)	(16)	(46)	(51)
Total expenses	60,902	60,313	182,732	173,307
Income before income taxes	17,793	12,327	52,282	53,430
Income tax expense	3,469	2,366	10,040	10,503
Net income	$ 14,324	$ 9,961	$ 42,242	$ 42,927
Earnings per share
Basic	$ 0.75	$ 0.52	$ 2.21	$ 2.24
Diluted	$ 0.75	$ 0.52	$ 2.21	$ 2.23
Shares used in computing earnings per share
Basic	19,042,152	19,164,854	19,082,374	19,145,432
Diluted	19,113,103	19,223,588	19,156,976	19,217,606
Cash dividends declared per common share	$ 0.37	$ 0.34	$ 1.11	$ 1.02

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 14,324	$ 9,961	$ 42,242	$ 42,927
Other comprehensive income :
Unrealized gain (loss) on debt securities, net of tax	6,885	(8,263)	4,519	(6,535)
Comprehensive income	$ 21,209	$ 1,698	$ 46,761	$ 36,392

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Accumulated Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2022	$ 317,432	$ 207	$ 220,299	$ (34,758)	$ 145,512	$ (13,828)
Beginning Balance, Shares at Dec. 31, 2022		20,678,572		(1,522,699)
Comprehensive income (loss):
Net income	42,927				42,927
Other comprehensive income :
Change in unrealized losses on debt securities, net of tax	(6,535)					(6,535)
Comprehensive income	36,392
Common stock issued	$ 779		779
Common stock issued, Shares		28,576
Purchase of treasury stock, Shares	0
Share-based compensation	$ 827		827
Dividends to shareholders	(19,547)				(19,547)
Ending Balance at Sep. 30, 2023	335,883	$ 207	221,905	$ (34,758)	168,892	(20,363)
Ending Balance, Shares at Sep. 30, 2023		20,707,148		(1,522,699)
Beginning Balance at Jun. 30, 2023	340,567	$ 207	221,759	$ (34,758)	165,459	(12,100)
Beginning Balance, Shares at Jun. 30, 2023		20,702,713		(1,522,699)
Comprehensive income (loss):
Net income	9,961				9,961
Other comprehensive income :
Change in unrealized losses on debt securities, net of tax	(8,263)					(8,263)
Comprehensive income	1,698
Common stock issued	$ (165)		(165)
Common stock issued, Shares		4,435
Purchase of treasury stock, Shares	0
Share-based compensation	$ 311		311
Dividends to shareholders	(6,528)				(6,528)
Ending Balance at Sep. 30, 2023	335,883	$ 207	221,905	$ (34,758)	168,892	(20,363)
Ending Balance, Shares at Sep. 30, 2023		20,707,148		(1,522,699)
Beginning Balance at Dec. 31, 2023	$ 292,451	$ 207	222,078	$ (36,929)	114,289	(7,194)
Beginning Balance, Shares at Dec. 31, 2023	19,135,008	20,704,448		(1,569,440)
Comprehensive income (loss):
Net income	$ 42,242				42,242
Other comprehensive income :
Change in unrealized losses on debt securities, net of tax	4,519					4,519
Comprehensive income	46,761
Common stock issued	453		453
Common stock issued, Shares		28,373
Purchase of treasury stock	$ (5,121)			$ (5,121)
Purchase of treasury stock, Shares	(113,411)			(113,411)
Share-based compensation	$ 1,074		1,074
Dividends to shareholders	(21,247)				(21,247)
Ending Balance at Sep. 30, 2024	$ 314,371	$ 207	223,605	$ (42,050)	135,284	(2,675)
Ending Balance, Shares at Sep. 30, 2024	19,049,970	20,732,821		(1,682,851)
Beginning Balance at Jun. 30, 2024	$ 300,992	$ 207	223,359	$ (41,042)	128,028	(9,560)
Beginning Balance, Shares at Jun. 30, 2024		20,729,551		(1,661,265)
Comprehensive income (loss):
Net income	14,324				14,324
Other comprehensive income :
Change in unrealized losses on debt securities, net of tax	6,885					6,885
Comprehensive income	21,209
Common stock issued	(112)		(112)
Common stock issued, Shares		3,270
Purchase of treasury stock	$ (1,008)			$ (1,008)
Purchase of treasury stock, Shares	(21,586)			(21,586)
Share-based compensation	$ 358		358
Dividends to shareholders	(7,068)				(7,068)
Ending Balance at Sep. 30, 2024	$ 314,371	$ 207	$ 223,605	$ (42,050)	$ 135,284	$ (2,675)
Ending Balance, Shares at Sep. 30, 2024	19,049,970	20,732,821		(1,682,851)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income	$ 42,242	$ 42,927
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	835	1,072
Net amortization of investments	1,076	2,380
Change in investment related allowance for credit losses	(46)	(51)
Deferred income taxes	(297)	(1,152)
Net realized (gains) losses on investments	181	(5,466)
Net unrealized (gains) losses on equity securities	(8,591)	3,892
Net realized losses on disposal of assets	209	2
Share-based compensation	2,161	1,116
Changes in operating assets and liabilities:
Premiums receivable, net	(22,107)	(18,751)
Accrued interest receivable	82	(120)
Deferred policy acquisition costs	(2,173)	(1,395)
Other assets	(1,487)	(353)
Reserves for loss and loss adjustment expenses	(10,508)	(11,689)
Unearned premiums	15,409	11,362
Reinsurance balances	263	(2,181)
Amounts held for others and policyholder deposits	(4,250)	1,321
Federal income taxes recoverable	(978)	907
Accounts payable and other liabilities	1,342	2,054
Net cash provided by operating activities	13,363	25,875
Investing activities
Purchases of investments held-to-maturity	(5,465)	(31,791)
Purchases of investments available-for-sale	(33,956)	(45,141)
Purchases of short-term investments	(46,957)	(46,347)
Proceeds from maturities of investments held-to-maturity	50,988	36,020
Proceeds from sales and maturities of investments available-for-sale	45,532	51,542
Proceeds from sales of equity securities	7,933	8,679
Proceeds from sales and maturities of short-term investments	21,364	20,175
Purchases of property and equipment	(826)	(527)
Net cash provided by (used in) investing activities	38,613	(7,390)
Financing activities
Finance lease purchases	(64)	(71)
Share-based compensation related tax withholding	(541)	(944)
Purchase of treasury stock	(5,121)	0
Dividends to shareholders	(21,269)	(19,690)
Net cash used in financing activities	(26,995)	(20,705)
Change in cash and cash equivalents	24,981	(2,220)
Cash and cash equivalents at beginning of period	38,682	61,469
Cash and cash equivalents at end of period	$ 63,663	$ 59,249

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 14,324	$ 9,961	$ 42,242	$ 42,927

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Title	directors or officers
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation AMERISAFE, Inc. (the Company) is an insurance holding company incorporated in the state of Texas. The accompanying unaudited consolidated financial statements include the accounts of AMERISAFE and its subsidiaries: American Interstate Insurance Company (AIIC) and its insurance subsidiaries, Silver Oak Casualty, Inc. (SOCI) and American Interstate Insurance Company of Texas (AIICTX), Amerisafe Risk Services, Inc. (RISK) and Amerisafe General Agency, Inc. (AGAI). AIIC and SOCI are property and casualty insurance companies organized under the laws of the state of Nebraska. AIICTX is a property and casualty insurance company organized under the laws of the state of Texas. RISK, a wholly owned subsidiary of the Company, is a claims and safety service company currently servicing only affiliated insurance companies. AGAI, a wholly owned subsidiary of the Company, is a general agent for the Company. AGAI sells insurance, which is underwritten by AIIC, SOCI and AIICTX, as well as by nonaffiliated insurance carriers. The terms “AMERISAFE,” the “Company,” “we,” “us” or “our” refer to AMERISAFE, Inc. and its consolidated subsidiaries, as the context requires. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime. Assets and revenues of AIIC and its subsidiaries represent at least 95 % of comparable consolidated amounts of the Company for each of the nine months ended September 30, 2024 and 2023. In the opinion of management of the Company, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position, the results of operations and cash flows for the periods presented. The unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q under the Securities Exchange Act of 1934 and therefore do not include all information and footnotes to be in conformity with accounting principles generally accepted in the United States (GAAP). The results for the interim periods are not necessarily indicative of the results of operations that may be expected for the year. The unaudited consolidated financial statements contained herein should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2023. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of our assets, liabilities, revenues and expenses and related disclosures. Some of the estimates result from judgments that can be subjective and complex and, consequently, actual results in future periods might differ from these estimates. Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation. The reclassifications have not changed the results of operations of prior periods. Adopted Accounting Guidance The Company has not adopted any new accounting guidance in 2024 . Prospective Accounting Guidance In November 2023, the Financial Accounting Standards Board issued guidance that requires expanded reportable segment disclosures, primarily related to significant segment expenses which are regularly provided to the chief operating decision maker. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Retrospective application is required. The Company is currently evaluating the impact of this disclosure-only requirement. All other issued but not yet effective accounting and reporting standards as of September 30, 2024 are either not applicable to the Company or are not expected to have a material impact on the Company.

Restricted Stock, Restricted St

Restricted Stock, Restricted Stock Units, and Stock Options	9 Months Ended
Restricted Stock, Restricted Stock Units, and Stock Options	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Restricted Stock, Restricted Stock Units, and Stock Options	Note 2. Restricted Stock, Restricted Stock Units, and Stock Options As of September 30, 2024 , the Company has three equity incentive plans: the AMERISAFE Non-Employee Director Restricted Stock Plan (the Restricted Stock Plan), the AMERISAFE 2012 Equity and Incentive Compensation Plan (the 2012 Incentive Plan) and the 2022 Equity and Incentive Compensation Plan (the 2022 Incentive Plan). In connection with the approval of the 2022 Incentive Plan by the Company’s shareholders at the annual meeting of shareholders in June 2022, no further grants will be made under the 2012 Incentive Plan. All grants made under the 2012 Incentive Plan will continue in effect, subject to the terms and conditions of the 2012 Incentive Plan. See Note 12 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 for additional information regarding the Company’s incentive plans. During the nine months ended September 30, 2024, the Company issued 12,993 shares of common stock to executive officers pursuant to vested performance awards and 3,270 restricted stock units to officers. During the nine months ended September 30, 2024 , the Company awarded 12,110 shares of restricted common stock to non-employee directors. The market value of these shares totaled $ 1.2 million. During the nine months ended September 30, 2023, the Company issued 18,561 shares of common stock to executive officers pursuant to vested performance awards and 4,845 restricted stock units to officers. During the nine months ended September 30, 2023, the Company awarded 9,856 shares of restricted common stock to non-employee directors. The market value of these shares totaled $ 1.8 million. The Company had no stock options outstanding as of September 30, 2024. The Company recognized share-based compensation expense of $ 0.8 million in the quarter ended September 30, 2024 and $ 0.5 million in the same period in 2023. The Company recognized share-based compensation expense of $ 2.2 million in the nine months ended September 30, 2024 and $ 1.1 million in the same period in 2023 .

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 3. Earnings Per Share The Company computes earnings per share (EPS) in accordance with FASB Accounting Standards Codification (ASC) Topic 260, Earnings Per Share . The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted-average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any restricted stock or RSUs become vested. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands, except share and per share amounts) Basic EPS : Net income $ 14,324 $ 9,961 $ 42,242 $ 42,927 Basic weighted average common shares 19,042,152 19,164,854 19,082,374 19,145,432 Basic earnings per common share $ 0.75 $ 0.52 $ 2.21 $ 2.24 Diluted EPS : Net income $ 14,324 $ 9,961 $ 42,242 $ 42,927 Diluted weighted average common shares: Weighted average common shares 19,042,152 19,164,854 19,082,374 19,145,432 Restricted stock and RSUs 70,951 58,734 74,602 72,174 Diluted weighted average common shares 19,113,103 19,223,588 19,156,976 19,217,606 Diluted earnings per common share $ 0.75 $ 0.52 $ 2.21 $ 2.23

Investments

Investments	9 Months Ended
Investments	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Note 4. Investments The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at September 30, 2024 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 387,702 $ ( 35 ) $ 387,667 $ 4,190 $ ( 9,006 ) $ 382,851 Corporate bonds 37,453 ( 100 ) 37,353 12 ( 1,094 ) 36,271 U.S. agency-based mortgage-backed securities 2,877 — 2,877 33 ( 81 ) 2,829 U.S. Treasury securities and obligations 8,456 — 8,456 31 ( 101 ) 8,386 Asset-backed securities 17 ( 1 ) 16 — — 16 Totals $ 436,505 $ ( 136 ) $ 436,369 $ 4,266 $ ( 10,282 ) $ 430,353 The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at September 30, 2024 are summarized as follows: Amortized Gross Gross Fair Allowance for (in thousands) States and political subdivisions $ 147,821 $ 939 $ ( 5,153 ) $ 143,607 $ — Corporate bonds 151,114 3,404 ( 1,439 ) 153,079 — U.S. agency-based mortgage-backed securities 4,702 — ( 341 ) 4,361 — U.S. Treasury securities and obligations 14,858 — ( 791 ) 14,067 — Totals $ 318,495 $ 4,343 $ ( 7,724 ) $ 315,114 $ — The cost, gross unrealized gains and losses, and the fair value of equity securities at September 30, 2024 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 36,020 $ 21,692 $ — $ 57,712 Total equity securities $ 36,020 $ 21,692 $ — $ 57,712 The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2023 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 416,916 $ ( 38 ) $ 416,878 $ 4,166 $ ( 12,074 ) $ 408,970 Corporate bonds 52,321 ( 142 ) 52,179 — ( 2,231 ) 49,948 U.S. agency-based mortgage-backed securities 3,297 — 3,297 25 ( 123 ) 3,199 U.S. Treasury securities and obligations 11,186 — 11,186 26 ( 273 ) 10,939 Asset-backed securities 37 ( 2 ) 35 1 — 36 Totals $ 483,757 $ ( 182 ) $ 483,575 $ 4,218 $ ( 14,701 ) $ 473,092 The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2023 are summarized as follows: Amortized Gross Gross Fair Allowance for (in thousands) States and political subdivisions $ 138,031 $ 583 $ ( 6,719 ) $ 131,895 $ — Corporate bonds 168,134 2,105 ( 3,486 ) 166,753 — U.S. agency-based mortgage-backed securities 5,190 — ( 445 ) 4,745 — U.S. Treasury securities and obligations 14,816 — ( 1,145 ) 13,671 — Totals $ 326,171 $ 2,688 $ ( 11,795 ) $ 317,064 $ — The cost, gross unrealized gains and losses, and the fair value of equity securities at December 31, 2023 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 44,046 $ 13,101 $ — $ 57,147 Total equity securities $ 44,046 $ 13,101 $ — $ 57,147 A summary of the carrying amounts and fair value of investments in fixed maturity securities classified as held-to-maturity, by contractual maturity, is as follows: September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair (in thousands) Maturity: Within one year $ 47,290 $ 46,978 $ 64,129 $ 63,703 After one year through five years 115,402 112,425 136,854 131,396 After five years through ten years 113,949 110,703 114,990 110,814 After ten years 156,835 157,402 164,270 163,944 U.S. agency-based mortgage-backed securities 2,877 2,829 3,297 3,199 Asset-backed securities 16 16 35 36 Totals $ 436,369 $ 430,353 $ 483,575 $ 473,092 A summary of the amortized cost and fair value of investments in fixed maturity securities classified as available-for-sale, by contractual maturity, is as follows: September 30, 2024 December 31, 2023 Amortized Fair Amortized Fair (in thousands) Maturity: Within one year $ 17,898 $ 17,728 $ 25,995 $ 25,875 After one year through five years 104,803 103,134 106,178 102,201 After five years through ten years 73,094 73,199 82,664 80,911 After ten years 117,998 116,692 106,144 103,332 U.S. agency-based mortgage-backed securities 4,702 4,361 5,190 4,745 Totals $ 318,495 $ 315,114 $ 326,171 $ 317,064 The following table summarizes the fair value and gross unrealized losses on securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position as of September 30, 2024 : Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) September 30, 2024 Available-for-Sale States and political subdivisions $ 61,392 $ 3,595 $ 21,334 $ 1,558 $ 82,726 $ 5,153 Corporate bonds 30,359 786 25,343 653 55,702 1,439 U.S. agency-based mortgage-backed securities 4,122 312 239 29 4,361 341 U.S. Treasury securities and obligations — — 14,067 791 14,067 791 Total available-for-sale securities $ 95,873 $ 4,693 $ 60,983 $ 3,031 $ 156,856 $ 7,724 At September 30, 2024, we held 132 individual fixed maturity securities classified as available-for-sale that were in an unrealized loss position. The following table summarizes the fair value and gross unrealized losses on securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position as of December 31, 2023 : Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) December 31, 2023 Available-for-Sale States and political subdivisions $ 14,115 $ 111 $ 72,358 $ 6,608 $ 86,473 $ 6,719 Corporate bonds 26,178 96 93,538 3,390 119,716 3,486 U.S. agency-based mortgage-backed securities — — 4,745 445 4,745 445 U.S. Treasury securities and obligations — — 13,672 1,145 13,672 1,145 Total available-for-sale securities $ 40,293 $ 207 $ 184,313 $ 11,588 $ 224,606 $ 11,795 The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the quarter ended September 30, 2024. States and Corporate U.S. Agency U.S. Asset-Backed Totals (in thousands) Balance at June 30, 2024 $ 36 $ 111 $ — $ — $ 2 $ 149 Provision for credit loss benefit ( 1 ) ( 11 ) — — ( 1 ) ( 13 ) Balance at September 30, 2024 $ 35 $ 100 $ — $ — $ 1 $ 136 The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the nine months ended September 30, 2024. States and Corporate U.S. Agency U.S. Asset-Backed Totals (in thousands) Balance at December 31, 2023 $ 38 $ 142 $ — $ — $ 2 $ 182 Provision for credit loss benefit ( 3 ) ( 42 ) — — ( 1 ) ( 46 ) Balance at September 30, 2024 $ 35 $ 100 $ — $ — $ 1 $ 136 The Company has established an allowance for credit losses on 436 held-to-maturity securities totaling $ 0.1 million. The majority of those securities were issued by states and political subdivisions ( 417 securities) and corporate bonds ( 16 securities). The Company has no allowance for credit losses on investments classified as available-for-sale for the period ended September 30, 2024. The credit rating used for held-to-maturity fixed income securities is the rating for each security as published by Moody’s, S&P, and Fitch to determine the probability of default. If there are two ratings, the lower rating is used. If there are three ratings, the median rating is used. If there is one rating, that rating is used. For corporate fixed income securities (given a rating), the probability of default comes from Moody’s annual study of corporate bond defaults published each February. The maximum maturity using the default rate is 20 years (any maturity greater than 20 years will use the 20-year rate). For municipal fixed income securities (given a rating), the probability of default comes from Moody’s study of municipal bond defaul ts published annually. The calculation of the credit loss allowance takes the amortized cost of the fixed income security and assumes default and recovery based on the average recovery rates from the Moody’s default studies. The amortized cost of the security, minus the amount recovered, is the estimated full amount the Company could lose in a default scenario. Then this amount is multiplied by the probability of default to determine the allowance for credit loss. The lower the security is rated, the higher likelihood of default, and therefore a higher allowance for credit loss. The longer to the maturity date of a security, the higher the default risk. The table below presents the amortized cost of held-to-maturity securities aggregated by credit quality indicator as of September 30, 2024. States and Corporate U.S. Agency U.S. Asset-Backed Totals Amortized Cost (in thousands) AAA/AA/A ratings $ 385,526 $ 13,367 $ 2,877 $ 8,456 $ 7 $ 410,233 Baa/BBB ratings 2,176 24,086 — — 10 26,272 Total $ 387,702 $ 37,453 $ 2,877 $ 8,456 $ 17 $ 436,505 Net realized gains in the quarter ended September 30, 2024 were $ 0.2 million resulting from the redemption of fixed maturity securities. Net realized gains in the quarter ended September 30, 2023 were $ 5.1 million resulting from the sale of equity and fixed maturity securities classified as available-for-sale. Net realized losses in the nine months ended September 30, 2024 were $ 0.2 million resulting primarily from the sale of equity and fixed maturity securities classified as available-for-sale. Net realized gains in the nine months ended September 30, 2023 were $ 5.5 million resulting primarily from the sale of equity and fixed maturity securities classified as available-for-sale. During the third quarter of 2024, we recognized through income $ 3.9 million of net unrealized gains on equity securities. During the third quarter of 2023, we recognized through income $ 7.3 million of net unrealized losses on equity securities. During the nine months ended September 30, 2024, we recognized through income $ 8.6 million of net unrealized gains on equity securities. During the nine months ended September 30, 2023, we recognized through income $ 3.9 million of net unrealized losses on equity securities. Investment income is recognized as it is earned. The discount or premium on fixed maturity securities is amortized using the “constant yield” method. Anticipated prepayments, where applicable, are considered when determining the amortization of premiums or discounts. Realized investment gains and losses are determined using the specific identification method.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes In accordance with FASB ASC Topic 740, “Income Taxes,” we provide for the recognition and measurement of deferred income tax benefits based on the likelihood of their realization in future years. As of September 30, 2024 and 2023 , the Company had no valuation allowance against its deferred income tax assets and liabilities. Income tax expense from operations is different from the amount computed by applying the U.S. federal income tax statutory rate of 21 % to income before income taxes primarily due to the impact of tax-exempt investment income and state income tax accruals. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. There were no uncertain tax positions for the periods ended September 30, 2024 and 2023. Tax years 2021 through 2024 are subject to examination by the federal and state taxing authorities.

Loss Reserves

Loss Reserves	9 Months Ended
Loss Reserves	Sep. 30, 2024
Insurance [Abstract]
Loss Reserves	Note 6. Loss Reserves We record reserves for estimated losses under insurance policies that we write and for loss adjustment expenses related to the investigation and settlement of policy claims. Our reserves for loss and loss adjustment expenses represent the estimated cost of all reported and unreported loss and loss adjustment expenses incurred and unpaid as of a given point in time. The reserves for loss and loss adjustment expenses are estimated using individual case-basis valuations, statistical analyses and estimates based upon experience for unreported claims and their associated loss and loss adjustment expenses. Such estimates may be more or less than the amounts ultimately paid when the claims are settled. The estimates are subject to the effects of trends in loss severity and frequency. Although considerable variability is inherent in these estimates, management believes that the reserves for loss and loss adjustment expenses are adequate. The estimates are continually reviewed internally and periodically evaluated with our independent actuary. Adjustments are made as experience develops and new information becomes known. Any such adjustments are included in income from current operations. See Note 9 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 for additional information regarding the Company’s loss and loss adjustment expense development. The following table provides the Company’s liability for unpaid loss and loss adjustment expenses, net of related amounts recoverable from reinsurers, for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, 2024 2023 (in thousands) Balance, beginning of period $ 673,994 $ 696,037 Less amounts recoverable from reinsurers 119,746 112,555 Net balance, beginning of period 554,248 583,482 Add incurred related to: Current accident year 144,931 143,003 Prior accident years ( 25,166 ) ( 31,195 ) Total incurred 119,765 111,808 Less paid related to: Current accident year 29,872 28,074 Prior accident years 102,082 104,602 Total paid 131,954 132,676 Net balance, end of period 542,059 562,614 Add amounts recoverable from reinsurers 121,427 121,734 Balance, end of period $ 663,486 $ 684,348 The foregoing reconciliation reflects favorable development of the net reserves at September 30, 2024 and September 30, 2023. The favorable development reduced loss and loss adjustment expenses incurred by $ 25.2 million and $ 31.2 million in 2024 and 2023, respectively. The revisions to the Company’s reserves reflect new information gained by claims adjusters in the normal course of adjusting claims and is reflected in the financial statements when the information becomes available. It is typical for more serious claims to take several years or longer to settle and the Company continually revises estimates as more information about claimants’ medical conditions and potential disability becomes known and the claims get closer to being settled. Multiple factors can cause loss development both unfavorable and favorable. The favorable loss development we experienced across accident years was largely due to two factors: (1) lower than expected severity of injuries in these accident years compared to our original and revised estimates; and (2) favorable case reserve development from closed claims and claims where the worker had reached maximum medical improvement. We believe the favorable case reserve development resulted primarily from an intensive claims management focus with the Company actively seeking to settle claims, leading to favorable development. The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the three and nine months ended September 30, 2024 and 2023. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Balance, beginning of period $ 322 $ 338 $ 360 $ 372 Provision for credit loss expense (benefit) 8 5 ( 30 ) ( 29 ) Balance, end of period $ 330 $ 343 $ 330 $ 343

Comprehensive Income and Accumu

Comprehensive Income and Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Comprehensive Income and Accumulated Other Comprehensive Loss	Note 7. Comprehensive Income and Accumulated Other Comprehensive Loss Comprehensive income includes net income plus unrealized gains and losses on our available-for-sale investment securities, net of tax. In reporting comprehensive income on a net basis in the statements of comprehensive income , we used a 21 % tax rate in 2024 and 2023. The difference between net income as reported and comprehensive income was due primarily to changes in unrealized gains and losses, net of tax on available-for-sale debt securities. The following table illustrates the changes in the balance of each component of accumulated other comprehensive loss for each period presented in the interim financial statements. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Balance, beginning of period $ ( 9,560 ) $ ( 12,100 ) $ ( 7,194 ) $ ( 13,828 ) Other comprehensive income (loss) before 6,914 ( 8,455 ) 4,411 ( 6,881 ) Amounts reclassified from accumulated other ( 29 ) 192 108 346 Net current period other comprehensive 6,885 ( 8,263 ) 4,519 ( 6,535 ) Balance, end of period $ ( 2,675 ) $ ( 20,363 ) $ ( 2,675 ) $ ( 20,363 ) The sale or credit loss allowance adjustment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive loss to current period net income. The effects of reclassifications out of accumulated other comprehensive loss by the respective line items of net income are presented in the following table. Component of Accumulated Other Three Months Ended Nine Months Ended Affected line item in the Comprehensive Loss September 30, September 30, statement of income 2024 2023 2024 2023 (in thousands) Unrealized gains (losses) on $ 37 $ ( 243 ) $ ( 136 ) $ ( 438 ) Net realized gains (losses) 37 ( 243 ) ( 136 ) ( 438 ) Income before income taxes Unrealized gains (losses) on ( 8 ) 51 28 92 Income tax expense $ 29 $ ( 192 ) $ ( 108 ) $ ( 346 ) Net income

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements The Company carries available-for-sale securities at fair value in our consolidated financial statements and determines fair value measurements and disclosure in accordance with FASB ASC Topic 820, Fair Value Measurements and Disclosures. The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard defines fair value, describes three levels of inputs that may be used to measure fair value, and expands disclosures about fair value measurements. Fair value is defined in ASC Topic 820 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is the price to sell an asset or transfer a liability and, therefore, represents an exit price, not an entry price. Fair value is the exit price in the principal market (or, if lacking a principal market, the most advantageous market) in which the reporting entity would transact. Fair value is a market-based measurement, not an entity-specific measurement, and, as such, is determined based on the assumptions that market participants would use in pricing the asset or liability. The exit price objective of a fair value measurement applies regardless of the reporting entity’s intent and/or ability to sell the asset or transfer the liability at the measurement date. ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present value amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset, also known as current replacement cost. Valuation techniques used to measure fair value are to be consistently applied. In ASC Topic 820, inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable: • Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. • Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Valuation techniques used to measure fair value are intended to maximize the use of observable inputs and minimize the use of unobservable inputs. ASC Topic 820 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data. • Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs are to be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. The fair values of the Company’s investments are based upon prices provided by an independent pricing service. The Company has reviewed these prices for reasonableness and has not adjusted any prices received from the independent provider. Securities reported at fair value utilizing Level 1 inputs represent assets whose fair value is determined based upon observable unadjusted quoted market prices for identical assets in active markets. Level 2 securities represent assets whose fair value is determined using observable market information such as previous day trade prices, quotes from less active markets or quoted prices of securities with similar characteristics. There were no transfers between Level 1 and Level 2 during the nine months ended September 30, 2024. At September 30, 2024, assets measured at fair value on a recurring basis are summarized below: September 30, 2024 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as a part of: Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 143,607 $ — $ 143,607 Corporate bonds — 153,079 — 153,079 U.S. agency-based mortgage-backed securities — 4,361 — 4,361 U.S. Treasury securities 14,067 — — 14,067 Total securities available-for-sale—fixed maturity 14,067 301,047 — 315,114 Equity securities: Domestic common stock 57,712 — — 57,712 Total $ 71,779 $ 301,047 $ — $ 372,826 At September 30, 2024, assets measured at amortized cost net of allowance for credit losses are summarized below: September 30, 2024 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 382,851 $ — $ 382,851 Corporate bonds — 36,271 — 36,271 U.S. agency-based mortgage-backed securities — 2,829 — 2,829 U.S. Treasury securities 8,386 — — 8,386 Asset-backed securities — 16 — 16 Total held-to-maturity $ 8,386 $ 421,967 $ — $ 430,353 At December 31, 2023, assets measured at fair value on a recurring basis are summarized below: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as a part of: Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 131,895 $ — $ 131,895 Corporate bonds — 166,753 — 166,753 U.S. agency-based mortgage-backed securities — 4,745 — 4,745 U.S. Treasury securities 13,671 — — 13,671 Total securities available-for-sale—fixed maturity $ 13,671 $ 303,393 $ — $ 317,064 Equity securities: Domestic common stock 57,147 — — 57,147 Total $ 70,818 $ 303,393 $ — $ 374,211 At December 31, 2023, assets measured at amortized cost net of allowance for credit losses are summarized below: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 408,970 $ — $ 408,970 Corporate bonds — 49,948 — 49,948 U.S. agency-based mortgage-backed securities — 3,199 — 3,199 U.S. Treasury securities 10,939 — — 10,939 Asset-backed securities — 36 — 36 Total held-to-maturity $ 10,939 $ 462,153 $ — $ 473,092 The Company determines fair value amounts for financial instruments using available third-party market information. When such information is not available, the Company determines the fair value amounts using appropriate valuation methodologies. Nonfinancial instruments such as real estate, property and equipment, deferred policy acquisition costs, deferred income taxes and loss and loss adjustment expense reserves are excluded from the fair value disclosure. Cash and Cash Equivalents —The carrying amounts reported in the accompanying consolidated balance sheets for these financial instruments approximate their fair values, which are characterized as Level 1 assets. Investments —The fair values for fixed maturity and equity securities are based on prices obtained from an independent pricing service. Equity and treasury securities are characterized as Level 1 assets, as their fair values are based on quoted prices in active markets. Fixed maturity securities, other than treasury securities, are characterized as Level 2 assets, as their fair values are determined using observable market inputs. Short Term Investments —The carrying amounts reported in the accompanying consolidated balance sheets for these financial instruments approximate their fair values. These securities are characterized as Level 2 assets in the fair value hierarchy. The following table summarizes the carrying amounts and corresponding fair values for financial instruments: As of September 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair (in thousands) Assets: Fixed maturity securities—held-to-maturity $ 436,369 $ 430,353 $ 483,575 $ 473,092 Fixed maturity securities—available-for-sale 315,114 315,114 317,064 317,064 Equity securities 57,712 57,712 57,147 57,147 Short-term investments 26,337 26,337 — — Cash and cash equivalents 63,663 63,663 38,682 38,682

Treasury Stock

Treasury Stock	9 Months Ended
Treasury Stock	Sep. 30, 2024
Equity [Abstract]
Treasury Stock	Note 9. Treasury Stock The Company’s Board of Directors initiated a share repurchase program in February 2010. In October 2016 , the Board reauthorized this program with a limit of $ 25.0 million with no expiration date. As of September 30, 2024, $ 5.3 million was available for future purchases. Repurchases of shares may be made pursuant to pre-established trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934. During the three months ended September 30, 2024, 21,586 shares were purchased for $ 1.0 million, or an average price of $ 46.79 per share, including commissions and excise tax. During the nine months ended September 30, 2024, 113,411 shares were purchased for $ 5.1 million, or an average price of $ 45.16 per share, including commissions and excise tax. During the three and nine months ended September 30, 2023, no shares were purchased. The following table summarizes the Company’s purchases of its common stock, par value $ 0.01 per share, during the three months ended September 30, 2024: Period Total Number of Average Price Paid Total Number of Approximate Dollar (in thousands) July 1, 2024 to July 31, 2024 — $ — — $ 6,330 August 1, 2024 to August 31, 2024 21,586 46.79 21,586 5,320 September 1, 2024 to September 30, 2024 — — — 5,320 Total 21,586 21,586 (1) Average price paid per share includes commissions and excise tax.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 10. Subsequent Events On October 22, 2024 , the Company’s Board of Directors declared a special cash dividend of $ 3.00 per share and a regular cash dividend of $ 0.37 per share, payable on December 13, 2024 to shareholders of record as of December 6, 2024 . The Board considers the payment of a regular cash dividend each calendar quarter.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation. The reclassifications have not changed the results of operations of prior periods.
Adopted Accounting Guidance	Adopted Accounting Guidance The Company has not adopted any new accounting guidance in 2024 .
Prospective Accounting Guidance	Prospective Accounting Guidance In November 2023, the Financial Accounting Standards Board issued guidance that requires expanded reportable segment disclosures, primarily related to significant segment expenses which are regularly provided to the chief operating decision maker. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Retrospective application is required. The Company is currently evaluating the impact of this disclosure-only requirement. All other issued but not yet effective accounting and reporting standards as of September 30, 2024 are either not applicable to the Company or are not expected to have a material impact on the Company.

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	9 Months Ended
Fair Value Measurements (Policies)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	The Company carries available-for-sale securities at fair value in our consolidated financial statements and determines fair value measurements and disclosure in accordance with FASB ASC Topic 820, Fair Value Measurements and Disclosures. The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard defines fair value, describes three levels of inputs that may be used to measure fair value, and expands disclosures about fair value measurements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any restricted stock or RSUs become vested. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands, except share and per share amounts) Basic EPS : Net income $ 14,324 $ 9,961 $ 42,242 $ 42,927 Basic weighted average common shares 19,042,152 19,164,854 19,082,374 19,145,432 Basic earnings per common share $ 0.75 $ 0.52 $ 2.21 $ 2.24 Diluted EPS : Net income $ 14,324 $ 9,961 $ 42,242 $ 42,927 Diluted weighted average common shares: Weighted average common shares 19,042,152 19,164,854 19,082,374 19,145,432 Restricted stock and RSUs 70,951 58,734 74,602 72,174 Diluted weighted average common shares 19,113,103 19,223,588 19,156,976 19,217,606 Diluted earnings per common share $ 0.75 $ 0.52 $ 2.21 $ 2.23

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Sep. 30, 2024
Gross Unrecognized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses, Carrying Amount and Fair Value of Investments Classified as Held-to-Maturity	The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at September 30, 2024 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 387,702 $ ( 35 ) $ 387,667 $ 4,190 $ ( 9,006 ) $ 382,851 Corporate bonds 37,453 ( 100 ) 37,353 12 ( 1,094 ) 36,271 U.S. agency-based mortgage-backed securities 2,877 — 2,877 33 ( 81 ) 2,829 U.S. Treasury securities and obligations 8,456 — 8,456 31 ( 101 ) 8,386 Asset-backed securities 17 ( 1 ) 16 — — 16 Totals $ 436,505 $ ( 136 ) $ 436,369 $ 4,266 $ ( 10,282 ) $ 430,353 The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2023 are summarized as follows: Amortized Allowance for Credit Losses Carrying Gross Gross Fair (in thousands) States and political subdivisions $ 416,916 $ ( 38 ) $ 416,878 $ 4,166 $ ( 12,074 ) $ 408,970 Corporate bonds 52,321 ( 142 ) 52,179 — ( 2,231 ) 49,948 U.S. agency-based mortgage-backed securities 3,297 — 3,297 25 ( 123 ) 3,199 U.S. Treasury securities and obligations 11,186 — 11,186 26 ( 273 ) 10,939 Asset-backed securities 37 ( 2 ) 35 1 — 36 Totals $ 483,757 $ ( 182 ) $ 483,575 $ 4,218 $ ( 14,701 ) $ 473,092
Gross Unrealized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses and Fair Value of Investments Classified as Available-for-sale	The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at September 30, 2024 are summarized as follows: Amortized Gross Gross Fair Allowance for (in thousands) States and political subdivisions $ 147,821 $ 939 $ ( 5,153 ) $ 143,607 $ — Corporate bonds 151,114 3,404 ( 1,439 ) 153,079 — U.S. agency-based mortgage-backed securities 4,702 — ( 341 ) 4,361 — U.S. Treasury securities and obligations 14,858 — ( 791 ) 14,067 — Totals $ 318,495 $ 4,343 $ ( 7,724 ) $ 315,114 $ — The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2023 are summarized as follows: Amortized Gross Gross Fair Allowance for (in thousands) States and political subdivisions $ 138,031 $ 583 $ ( 6,719 ) $ 131,895 $ — Corporate bonds 168,134 2,105 ( 3,486 ) 166,753 — U.S. agency-based mortgage-backed securities 5,190 — ( 445 ) 4,745 — U.S. Treasury securities and obligations 14,816 — ( 1,145 ) 13,671 — Totals $ 326,171 $ 2,688 $ ( 11,795 ) $ 317,064 $ —
Gross Unrealized Gains and Losses and Cost of Equity	The cost, gross unrealized gains and losses, and the fair value of equity securities at September 30, 2024 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 36,020 $ 21,692 $ — $ 57,712 Total equity securities $ 36,020 $ 21,692 $ — $ 57,712 The cost, gross unrealized gains and losses, and the fair value of equity securities at December 31, 2023 are summarized as follows: Cost Gross Gross Fair (in thousands) Equity securities: Domestic common stock $ 44,046 $ 13,101 $ — $ 57,147 Total equity securities $ 44,046 $ 13,101 $ — $ 57,147
Investment Securities Continuous Unrealized Loss Position	The following table summarizes the fair value and gross unrealized losses on securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position as of September 30, 2024 : Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) September 30, 2024 Available-for-Sale States and political subdivisions $ 61,392 $ 3,595 $ 21,334 $ 1,558 $ 82,726 $ 5,153 Corporate bonds 30,359 786 25,343 653 55,702 1,439 U.S. agency-based mortgage-backed securities 4,122 312 239 29 4,361 341 U.S. Treasury securities and obligations — — 14,067 791 14,067 791 Total available-for-sale securities $ 95,873 $ 4,693 $ 60,983 $ 3,031 $ 156,856 $ 7,724 The following table summarizes the fair value and gross unrealized losses on securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position as of December 31, 2023 : Less Than 12 Months 12 Months or Greater Total Fair Value of Gross Fair Value of Gross Fair Value of Gross (in thousands) December 31, 2023 Available-for-Sale States and political subdivisions $ 14,115 $ 111 $ 72,358 $ 6,608 $ 86,473 $ 6,719 Corporate bonds 26,178 96 93,538 3,390 119,716 3,486 U.S. agency-based mortgage-backed securities — — 4,745 445 4,745 445 U.S. Treasury securities and obligations — — 13,672 1,145 13,672 1,145 Total available-for-sale securities $ 40,293 $ 207 $ 184,313 $ 11,588 $ 224,606 $ 11,795
Changes in Allowance for Credit Losses by Major Security Type of Investments Classified as Held-to-Maturity	The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the quarter ended September 30, 2024. States and Corporate U.S. Agency U.S. Asset-Backed Totals (in thousands) Balance at June 30, 2024 $ 36 $ 111 $ — $ — $ 2 $ 149 Provision for credit loss benefit ( 1 ) ( 11 ) — — ( 1 ) ( 13 ) Balance at September 30, 2024 $ 35 $ 100 $ — $ — $ 1 $ 136 The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the nine months ended September 30, 2024. States and Corporate U.S. Agency U.S. Asset-Backed Totals (in thousands) Balance at December 31, 2023 $ 38 $ 142 $ — $ — $ 2 $ 182 Provision for credit loss benefit ( 3 ) ( 42 ) — — ( 1 ) ( 46 ) Balance at September 30, 2024 $ 35 $ 100 $ — $ — $ 1 $ 136
Schedule of Amortized Cost Held-to-Maturity Securities Aggregated By Credit Quality Indicator	The table below presents the amortized cost of held-to-maturity securities aggregated by credit quality indicator as of September 30, 2024. States and Corporate U.S. Agency U.S. Asset-Backed Totals Amortized Cost (in thousands) AAA/AA/A ratings $ 385,526 $ 13,367 $ 2,877 $ 8,456 $ 7 $ 410,233 Baa/BBB ratings 2,176 24,086 — — 10 26,272 Total $ 387,702 $ 37,453 $ 2,877 $ 8,456 $ 17 $ 436,505
Held-to-Maturity Securities [Member]
Summary of Carrying Amount, Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity	A summary of the carrying amounts and fair value of investments in fixed maturity securities classified as held-to-maturity, by contractual maturity, is as follows: September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair (in thousands) Maturity: Within one year $ 47,290 $ 46,978 $ 64,129 $ 63,703 After one year through five years 115,402 112,425 136,854 131,396 After five years through ten years 113,949 110,703 114,990 110,814 After ten years 156,835 157,402 164,270 163,944 U.S. agency-based mortgage-backed securities 2,877 2,829 3,297 3,199 Asset-backed securities 16 16 35 36 Totals $ 436,369 $ 430,353 $ 483,575 $ 473,092
Available-for-Sale Securities [Member]
Summary of Carrying Amount, Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity	A summary of the amortized cost and fair value of investments in fixed maturity securities classified as available-for-sale, by contractual maturity, is as follows: September 30, 2024 December 31, 2023 Amortized Fair Amortized Fair (in thousands) Maturity: Within one year $ 17,898 $ 17,728 $ 25,995 $ 25,875 After one year through five years 104,803 103,134 106,178 102,201 After five years through ten years 73,094 73,199 82,664 80,911 After ten years 117,998 116,692 106,144 103,332 U.S. agency-based mortgage-backed securities 4,702 4,361 5,190 4,745 Totals $ 318,495 $ 315,114 $ 326,171 $ 317,064

Loss Reserves (Tables)

Loss Reserves (Tables)	9 Months Ended
Loss Reserves (Tables)	Sep. 30, 2024
Insurance [Abstract]
Liability for Unpaid Loss and Loss Adjustment Expenses, Net of Related Amounts Recoverable from Reinsurers	The following table provides the Company’s liability for unpaid loss and loss adjustment expenses, net of related amounts recoverable from reinsurers, for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, 2024 2023 (in thousands) Balance, beginning of period $ 673,994 $ 696,037 Less amounts recoverable from reinsurers 119,746 112,555 Net balance, beginning of period 554,248 583,482 Add incurred related to: Current accident year 144,931 143,003 Prior accident years ( 25,166 ) ( 31,195 ) Total incurred 119,765 111,808 Less paid related to: Current accident year 29,872 28,074 Prior accident years 102,082 104,602 Total paid 131,954 132,676 Net balance, end of period 542,059 562,614 Add amounts recoverable from reinsurers 121,427 121,734 Balance, end of period $ 663,486 $ 684,348
Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers	The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the three and nine months ended September 30, 2024 and 2023. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Balance, beginning of period $ 322 $ 338 $ 360 $ 372 Provision for credit loss expense (benefit) 8 5 ( 30 ) ( 29 ) Balance, end of period $ 330 $ 343 $ 330 $ 343

Comprehensive Income and Accu_2

Comprehensive Income and Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss (AOCI)	The following table illustrates the changes in the balance of each component of accumulated other comprehensive loss for each period presented in the interim financial statements. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (in thousands) Balance, beginning of period $ ( 9,560 ) $ ( 12,100 ) $ ( 7,194 ) $ ( 13,828 ) Other comprehensive income (loss) before 6,914 ( 8,455 ) 4,411 ( 6,881 ) Amounts reclassified from accumulated other ( 29 ) 192 108 346 Net current period other comprehensive 6,885 ( 8,263 ) 4,519 ( 6,535 ) Balance, end of period $ ( 2,675 ) $ ( 20,363 ) $ ( 2,675 ) $ ( 20,363 )
Reclassification Out of Accumulated Other Comprehensive Loss	The effects of reclassifications out of accumulated other comprehensive loss by the respective line items of net income are presented in the following table. Component of Accumulated Other Three Months Ended Nine Months Ended Affected line item in the Comprehensive Loss September 30, September 30, statement of income 2024 2023 2024 2023 (in thousands) Unrealized gains (losses) on $ 37 $ ( 243 ) $ ( 136 ) $ ( 438 ) Net realized gains (losses) 37 ( 243 ) ( 136 ) ( 438 ) Income before income taxes Unrealized gains (losses) on ( 8 ) 51 28 92 Income tax expense $ 29 $ ( 192 ) $ ( 108 ) $ ( 346 ) Net income

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	At September 30, 2024, assets measured at fair value on a recurring basis are summarized below: September 30, 2024 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as a part of: Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 143,607 $ — $ 143,607 Corporate bonds — 153,079 — 153,079 U.S. agency-based mortgage-backed securities — 4,361 — 4,361 U.S. Treasury securities 14,067 — — 14,067 Total securities available-for-sale—fixed maturity 14,067 301,047 — 315,114 Equity securities: Domestic common stock 57,712 — — 57,712 Total $ 71,779 $ 301,047 $ — $ 372,826 At December 31, 2023, assets measured at fair value on a recurring basis are summarized below: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Financial instruments carried at fair value, classified as a part of: Securities available-for-sale—fixed maturity: States and political subdivisions $ — $ 131,895 $ — $ 131,895 Corporate bonds — 166,753 — 166,753 U.S. agency-based mortgage-backed securities — 4,745 — 4,745 U.S. Treasury securities 13,671 — — 13,671 Total securities available-for-sale—fixed maturity $ 13,671 $ 303,393 $ — $ 317,064 Equity securities: Domestic common stock 57,147 — — 57,147 Total $ 70,818 $ 303,393 $ — $ 374,211
Schedule of Assets Measured at Amortized Cost Net of Allowance For Credit Losses	At September 30, 2024, assets measured at amortized cost net of allowance for credit losses are summarized below: September 30, 2024 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 382,851 $ — $ 382,851 Corporate bonds — 36,271 — 36,271 U.S. agency-based mortgage-backed securities — 2,829 — 2,829 U.S. Treasury securities 8,386 — — 8,386 Asset-backed securities — 16 — 16 Total held-to-maturity $ 8,386 $ 421,967 $ — $ 430,353 At December 31, 2023, assets measured at amortized cost net of allowance for credit losses are summarized below: December 31, 2023 Level 1 Level 2 Level 3 Total Fair (in thousands) Securities held-to-maturity—fixed maturity: States and political subdivisions $ — $ 408,970 $ — $ 408,970 Corporate bonds — 49,948 — 49,948 U.S. agency-based mortgage-backed securities — 3,199 — 3,199 U.S. Treasury securities 10,939 — — 10,939 Asset-backed securities — 36 — 36 Total held-to-maturity $ 10,939 $ 462,153 $ — $ 473,092
Summary of Carrying Amounts and Corresponding Fair Values for Financial Instruments	The following table summarizes the carrying amounts and corresponding fair values for financial instruments: As of September 30, 2024 As of December 31, 2023 Carrying Fair Carrying Fair (in thousands) Assets: Fixed maturity securities—held-to-maturity $ 436,369 $ 430,353 $ 483,575 $ 473,092 Fixed maturity securities—available-for-sale 315,114 315,114 317,064 317,064 Equity securities 57,712 57,712 57,147 57,147 Short-term investments 26,337 26,337 — — Cash and cash equivalents 63,663 63,663 38,682 38,682

Treasury Stock (Tables)

Treasury Stock (Tables)	9 Months Ended
Treasury Stock (Tables)	Sep. 30, 2024
Equity [Abstract]
Summary of Company's Purchases of Common Stock	The following table summarizes the Company’s purchases of its common stock, par value $ 0.01 per share, during the three months ended September 30, 2024: Period Total Number of Average Price Paid Total Number of Approximate Dollar (in thousands) July 1, 2024 to July 31, 2024 — $ — — $ 6,330 August 1, 2024 to August 31, 2024 21,586 46.79 21,586 5,320 September 1, 2024 to September 30, 2024 — — — 5,320 Total 21,586 21,586 (1) Average price paid per share includes commissions and excise tax.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	9 Months Ended
Basis of Presentation - Additional Information (Detail)	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of comparable consolidated amounts	95%	95%

Restricted Stock, Restricted _2

Restricted Stock, Restricted Stock Units, and Stock Options - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Incentive_Plan shares	Sep. 30, 2023 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans \| Incentive_Plan			3
Market value of shares \| $			$ 1.2	$ 1.8
Stock options outstanding	0		0
Share-based compensation expense \| $	$ 0.8	$ 0.5	$ 2.2	$ 1.1
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued, shares			12,993	18,561
Restricted Stock [Member] \| Officers and Employees and Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued, shares				9,856
Restricted Stock [Member] \| Non Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued, shares			12,110
Restricted Stock Units (RSUs) [Member] \| Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock issued, shares			3,270	4,845

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic [Abstract]
Net income	$ 14,324	$ 9,961	$ 42,242	$ 42,927
Basic weighted average common shares	19,042,152	19,164,854	19,082,374	19,145,432
Basic earnings per common share	$ 0.75	$ 0.52	$ 2.21	$ 2.24
Net income	$ 14,324	$ 9,961	$ 42,242	$ 42,927
Weighted average common shares	19,042,152	19,164,854	19,082,374	19,145,432
Restricted stock and RSUs	70,951	58,734	74,602	72,174
Diluted weighted average common shares	19,113,103	19,223,588	19,156,976	19,217,606
Diluted earnings per common share	$ 0.75	$ 0.52	$ 2.21	$ 2.23

Investments - Gross Unrecognize

Investments - Gross Unrecognized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses, Carrying Amount and Fair Value of Investments Classified as Held-to-Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	$ 436,505		$ 483,757
Held-to-Maturity, Allowance for Credit Losses	(136)	$ (149)	(182)
Held-to-Maturity, Carrying Amount	436,369		483,575
Held-to-Maturity, Gross Unrecognized Gains	4,266		4,218
Held-to-Maturity, Gross Unrecognized Losses	(10,282)		(14,701)
Securities held-to-maturity-fixed maturity, Fair Value	$ 430,353		$ 473,092
Investment, Type [Extensible Enumeration]	U.S. Agency-Based Mortgage-Backed Securities [Member]		U.S. Agency-Based Mortgage-Backed Securities [Member]
States and Political Subdivisions [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	$ 387,702		$ 416,916
Held-to-Maturity, Allowance for Credit Losses	(35)	(36)	(38)
Held-to-Maturity, Carrying Amount	387,667		416,878
Held-to-Maturity, Gross Unrecognized Gains	4,190		4,166
Held-to-Maturity, Gross Unrecognized Losses	(9,006)		(12,074)
Securities held-to-maturity-fixed maturity, Fair Value	382,851		408,970
Corporate Bonds [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	37,453		52,321
Held-to-Maturity, Allowance for Credit Losses	(100)	(111)	(142)
Held-to-Maturity, Carrying Amount	37,353		52,179
Held-to-Maturity, Gross Unrecognized Gains	12
Held-to-Maturity, Gross Unrecognized Losses	(1,094)		(2,231)
Securities held-to-maturity-fixed maturity, Fair Value	36,271		49,948
U.S. Agency-Based Mortgage-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	2,877		3,297
Held-to-Maturity, Carrying Amount	2,877		3,297
Held-to-Maturity, Gross Unrecognized Gains	33		25
Held-to-Maturity, Gross Unrecognized Losses	(81)		(123)
Securities held-to-maturity-fixed maturity, Fair Value	2,829		3,199
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	8,456		11,186
Held-to-Maturity, Carrying Amount	8,456		11,186
Held-to-Maturity, Gross Unrecognized Gains	31		26
Held-to-Maturity, Gross Unrecognized Losses	(101)		(273)
Securities held-to-maturity-fixed maturity, Fair Value	8,386		10,939
Asset-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Held-to-maturity, Amortized Cost, Totals	17		37
Held-to-Maturity, Allowance for Credit Losses	(1)	$ (2)	(2)
Held-to-Maturity, Carrying Amount	16		35
Held-to-Maturity, Gross Unrecognized Gains			1
Held-to-Maturity, Gross Unrecognized Losses			0
Securities held-to-maturity-fixed maturity, Fair Value	$ 16		$ 36

Investments - Gross Unrealized

Investments - Gross Unrealized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses and Fair Value of Investments Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	$ 318,495	$ 326,171
Available-for-sale, Gross Unrealized Gains	4,343	2,688
Available-for-sale, Gross Unrealized Losses	(7,724)	(11,795)
Fixed maturity securities-available-for-sale	315,114	317,064
Debt Securities Available For Sale Allowance For Credit Loss	0	0
States and Political Subdivisions [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	147,821	138,031
Available-for-sale, Gross Unrealized Gains	939	583
Available-for-sale, Gross Unrealized Losses	(5,153)	(6,719)
Fixed maturity securities-available-for-sale	143,607	131,895
Corporate Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	151,114	168,134
Available-for-sale, Gross Unrealized Gains	3,404	2,105
Available-for-sale, Gross Unrealized Losses	(1,439)	(3,486)
Fixed maturity securities-available-for-sale	153,079	166,753
U.S. Agency-Based Mortgage-Backed Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	4,702	5,190
Available-for-sale, Gross Unrealized Losses	(341)	(445)
Fixed maturity securities-available-for-sale	4,361	4,745
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale, Amortized Cost	14,858	14,816
Available-for-sale, Gross Unrealized Gains		0
Available-for-sale, Gross Unrealized Losses	(791)	(1,145)
Fixed maturity securities-available-for-sale	$ 14,067	$ 13,671

Investments - Gross Unrealize_2

Investments - Gross Unrealized Gains and Losses and Cost of Equity (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	$ 36,020	$ 44,046
Equity securities, Gross Unrealized Gains	21,692	13,101
Equity securities, Gross Unrealized Losses	0
Equity securities	57,712	57,147
Domestic Common Stock [Member]
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	36,020	44,046
Equity securities, Gross Unrealized Gains	21,692	13,101
Equity securities, Gross Unrealized Losses	0
Equity securities	$ 57,712	$ 57,147

Investments - Summary of Carryi

Investments - Summary of Carrying Amounts and Fair Value of Investments in Fixed Maturity Securities, Classified as Held-to-Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Held To Maturity Securities [Line Items]
Within one year, Carrying Amount	$ 47,290	$ 64,129
After one year through five years, Carrying Amount	115,402	136,854
After five years through ten years, Carrying Amount	113,949	114,990
After ten years, Carrying Amount	156,835	164,270
Held-to-maturity, Carrying Amount, Totals	436,369	483,575
Within one year, Fair Value	46,978	63,703
After one year through five years, Fair Value	112,425	131,396
After five years through ten years, Fair Value	110,703	110,814
After ten years, Fair Value	157,402	163,944
Held-to-maturity, Fair Value, Totals	430,353	473,092
U.S. Agency-Based Mortgage-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Without single maturity, Carrying Amount	2,877	3,297
Held-to-maturity, Carrying Amount, Totals	2,877	3,297
Without single maturity, Fair Value	2,829	3,199
Held-to-maturity, Fair Value, Totals	2,829	3,199
Asset-Backed Securities [Member]
Schedule Of Held To Maturity Securities [Line Items]
Without single maturity, Carrying Amount	16	35
Held-to-maturity, Carrying Amount, Totals	16	35
Without single maturity, Fair Value	16	36
Held-to-maturity, Fair Value, Totals	$ 16	$ 36

Investments - Summary of Amorti

Investments - Summary of Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Within one year, Amortized Cost	$ 17,898	$ 25,995
After one year through five years, Amortized Cost	104,803	106,178
After five years through ten years, Amortized Cost	73,094	82,664
After ten years, Amortized Cost	$ 117,998	$ 106,144
Investment, Type [Extensible Enumeration]	Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]	Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]
Without single maturity date, Amortized Cost	$ 4,702	$ 5,190
Available-for-sale, Amortized Cost	318,495	326,171
Within one year, Fair Value	17,728	25,875
After one year through five years, Fair Value	103,134	102,201
After five years through ten years, Fair Value	73,199	80,911
After ten years, Fair Value	116,692	103,332
Without single maturity date, Fair value	4,361	4,745
Available-for-sale, Fair Value	$ 315,114	$ 317,064

Investments - Investment Securi

Investments - Investment Securities Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	$ 95,873	$ 40,293
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	4,693	207
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	60,983	184,313
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	3,031	11,588
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	156,856	224,606
Available-for Sale, Gross Unrealized Losses, Total	7,724	11,795
States and Political Subdivisions [Member]
Marketable Securities [Line Items]
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	61,392	14,115
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	3,595	111
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	21,334	72,358
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	1,558	6,608
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	82,726	86,473
Available-for Sale, Gross Unrealized Losses, Total	5,153	6,719
Corporate Bonds [Member]
Marketable Securities [Line Items]
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	30,359	26,178
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	786	96
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	25,343	93,538
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	653	3,390
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	55,702	119,716
Available-for Sale, Gross Unrealized Losses, Total	1,439	3,486
U.S. Agency-Based Mortgage-Backed Securities [Member]
Marketable Securities [Line Items]
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	4,122	0
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	312	0
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	239	4,745
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	29	445
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	4,361	4,745
Available-for Sale, Gross Unrealized Losses, Total	341	445
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Marketable Securities [Line Items]
Available-for Sale, Fair value of Investments with Unrealized Losses, Less Than 12 Months	0	0
Available-for Sale, Gross Unrealized Losses, Less Than 12 Months	0	0
Available-for Sale, Fair Value of Investments with Unrealized Losses, 12 Months or Greater	14,067	13,672
Available-for Sale, Gross Unrealized Losses, 12 Months or Greater	791	1,145
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	14,067	13,672
Available-for Sale, Gross Unrealized Losses, Total	$ 791	$ 1,145

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) Security	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Security	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Marketable Securities [Line Items]
Individual fixed maturity held in unrealized loss position \| Security	132		132
Number of fixed maturity securities, allowance for credit loss \| Security	436		436
Fixed maturity securities, held-to-maturity, allowance for credit losses	$ 136		$ 136		$ 149	$ 182
Available-for-sale, Allowance for Credit Losses	0		0			0
Net realized gains (losses) on investments	158	$ 5,133	(181)	$ 5,466
Net unrealized gains (losses) on equity securities	3,873	$ (7,309)	8,591	$ (3,892)
Corporate Bonds [Member]
Marketable Securities [Line Items]
Fixed maturity securities, held-to-maturity, allowance for credit losses	$ 100		$ 100		111	142
Number of majority securities \| Security	16		16
States and Political Subdivisions [Member]
Marketable Securities [Line Items]
Fixed maturity securities, held-to-maturity, allowance for credit losses	$ 35		$ 35		$ 36	$ 38
Number of majority securities \| Security	417		417
Corporate Fixed Income Securities [Member] \| Maximum [Member]
Marketable Securities [Line Items]
Investments maturity period using default rate			20 years

Investments - Changes in Allowa

Investments - Changes in Allowance for Credit Losses by Major Security Type of Investments Classified as Held-to-Maturity (Detail) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	$ 149	$ 182
Provision for credit loss benefit	(13)	(46)
Balance	136	136
Amortized cost	436,505	436,505
AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	410,233	410,233
Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	26,272	26,272
States and Political Subdivisions [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	36	38
Provision for credit loss benefit	(1)	(3)
Balance	35	35
Amortized cost	387,702	387,702
States and Political Subdivisions [Member] \| AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	385,526	385,526
States and Political Subdivisions [Member] \| Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	2,176	2,176
Corporate Bonds [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	111	142
Provision for credit loss benefit	(11)	(42)
Balance	100	100
Amortized cost	37,453	37,453
Corporate Bonds [Member] \| AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	13,367	13,367
Corporate Bonds [Member] \| Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	24,086	24,086
U.S. Agency-Based Mortgage-Backed Securities [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	2,877	2,877
U.S. Agency-Based Mortgage-Backed Securities [Member] \| AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	2,877	2,877
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	8,456	8,456
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] \| AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	8,456	8,456
Asset-Backed Securities [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Balance	2	2
Provision for credit loss benefit	(1)	(1)
Balance	1	1
Amortized cost	17	17
Asset-Backed Securities [Member] \| AAA/AA/A Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	7	7
Asset-Backed Securities [Member] \| Baa/BBB Ratings [Member]
Debt Securities Held To Maturity Credit Quality Indicator [Line Items]
Amortized cost	$ 10	$ 10

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	9 Months Ended
Income Taxes - Additional Information (Detail) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Valuation allowance	$ 0	$ 0
U.S federal income tax statutory rate	21%	21%
Uncertain tax positions recognized	$ 0	$ 0

Loss Reserves - Liability for U

Loss Reserves - Liability for Unpaid Loss and Loss Adjustment Expenses, Net of Related Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]
Balance, beginning of period	$ 673,994	$ 696,037
Less amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses	119,746	112,555
Net balance, beginning of period	554,248	583,482
Add incurred related to:
Current accident year	144,931	143,003
Prior accident years	(25,166)	(31,195)
Total incurred	119,765	111,808
Less paid related to:
Current accident year	29,872	28,074
Prior accident years	102,082	104,602
Total paid	131,954	132,676
Net balance, end of period	542,059	562,614
Add amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses	121,427	121,734
Balance, end of period	$ 663,486	$ 684,348

Loss Reserves - Additional Info

Loss Reserves - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Insurance [Abstract]
Loss and LAE Related to Prior Periods	$ 25,166	$ 31,195

Loss Reserves - Change in Allow

Loss Reserves - Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Insurance [Abstract]
Balance, beginning of period	$ 322	$ 338	$ 360	$ 372
Provision for credit loss expense (benefit)	8	5	(30)	(29)
Balance, end of period	$ 330	$ 343	$ 330	$ 343

Comprehensive Income and Accu_3

Comprehensive Income and Accumulated Other Comprehensive Loss - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate	21%	21%

Comprehensive Income and Accu_4

Comprehensive Income and Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (AOCI) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 300,992	$ 340,567	$ 292,451	$ 317,432
Other comprehensive income (loss) before reclassification	6,914	(8,455)	4,411	(6,881)
Amounts reclassified from accumulated other comprehensive (loss)	(29)	192	108	346
Net current period other comprehensive income (loss)	6,885	(8,263)	4,519	(6,535)
Ending Balance	314,371	335,883	314,371	335,883
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(9,560)	(12,100)	(7,194)	(13,828)
Ending Balance	$ (2,675)	$ (20,363)	$ (2,675)	$ (20,363)

Comprehensive Income and Accu_5

Comprehensive Income and Accumulated Other Comprehensive Loss - Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on investments	$ 158	$ 5,133	$ (181)	$ 5,466
Income before income taxes	17,793	12,327	52,282	53,430
Income tax expense	(3,469)	(2,366)	(10,040)	(10,503)
Net income	14,324	9,961	42,242	42,927
Unrealized Gains (Losses) On Debt Securities, Net Of Tax [Member] \| Reclassification Out of Accumulated Other Comprehensive Loss [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on investments	37	(243)	(136)	(438)
Income before income taxes	37	(243)	(136)	(438)
Income tax expense	(8)	51	28	92
Net income	$ 29	$ (192)	$ (108)	$ (346)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	$ 315,114	$ 317,064
Equity securities, at fair value (cost $36,020 and $44,046 in 2024 and 2023, respectively)	57,712	57,147
Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	315,114	317,064
Total	372,826	374,211
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	14,067	13,671
Total	71,779	70,818
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	301,047	303,393
Total	301,047	303,393
Fair Value, Measurements, Recurring [Member] \| States and Political Subdivisions [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	143,607	131,895
Fair Value, Measurements, Recurring [Member] \| States and Political Subdivisions [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	143,607	131,895
Fair Value, Measurements, Recurring [Member] \| Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	153,079	166,753
Fair Value, Measurements, Recurring [Member] \| Corporate Bonds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	153,079	166,753
Fair Value, Measurements, Recurring [Member] \| U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	4,361	4,745
Fair Value, Measurements, Recurring [Member] \| U.S. Agency-Based Mortgage-Backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	4,361	4,745
Fair Value, Measurements, Recurring [Member] \| U.S. Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	14,067	13,671
Fair Value, Measurements, Recurring [Member] \| U.S. Treasury Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturity securities - available-for-sale, at fair value (amortized cost $318,495 allowance for credit losses of $0 in 2024 and amortized cost $326,171, allowance for credit losses of $0 in 2023)	14,067	13,671
Fair Value, Measurements, Recurring [Member] \| Common Stock [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities, at fair value (cost $36,020 and $44,046 in 2024 and 2023, respectively)	57,712	57,147
Fair Value, Measurements, Recurring [Member] \| Common Stock [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities, at fair value (cost $36,020 and $44,046 in 2024 and 2023, respectively)	$ 57,712	$ 57,147

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Assets Measured at Amortized Cost Net of Allowance For Credit Losses (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	$ 430,353	$ 473,092
States and Political Subdivisions [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	382,851	408,970
Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	36,271	49,948
U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	2,829	3,199
U.S. Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	8,386	10,939
Asset-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	16	36
Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	8,386	10,939
Fair Value, Inputs, Level 1 [Member] \| U.S. Treasury Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	8,386	10,939
Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	421,967	462,153
Fair Value, Inputs, Level 2 [Member] \| States and Political Subdivisions [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	382,851	408,970
Fair Value, Inputs, Level 2 [Member] \| Corporate Bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	36,271	49,948
Fair Value, Inputs, Level 2 [Member] \| U.S. Agency-Based Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	2,829	3,199
Fair Value, Inputs, Level 2 [Member] \| Asset-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Securities held-to-maturity-fixed maturity, Fair Value	$ 16	$ 36

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Carrying Amounts and Corresponding Fair Values for Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities, fair value	$ 430,353	$ 473,092
Fixed maturity securities-available-for-sale	315,114	317,064
Equity securities	57,712	57,147
Short-term investments	26,337	0
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities, fair value	436,369	483,575
Fixed maturity securities-available-for-sale	315,114	317,064
Equity securities	57,712	57,147
Short-term investments	26,337	0
Cash and cash equivalents	63,663	38,682
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturity securities, fair value	430,353	473,092
Fixed maturity securities-available-for-sale	315,114	317,064
Equity securities	57,712	57,147
Short-term investments	26,337	0
Cash and cash equivalents	$ 63,663	$ 38,682

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Detail) - USD ($)	1 Months Ended				3 Months Ended		9 Months Ended
Treasury Stock - Additional Information (Detail) - USD ($)	Aug. 31, 2024		Jul. 31, 2024		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Oct. 31, 2016
Equity [Abstract]
Share repurchase program, new limit amount					$ 5,300,000		$ 5,300,000			$ 25,000,000
Purchase of treasury stock, Shares	21,586		0		21,586	0	113,411	0
Purchase of treasury stock					$ 1,008,000		$ 5,121,000
Shares purchased, average price	$ 46.79	[1]	$ 0	[1]	$ 46.79		$ 45.16
Common stock, par value					$ 0.01		$ 0.01		$ 0.01

[1] Average price paid per share includes commissions and excise tax.

Treasury Stock - Summary of Com

Treasury Stock - Summary of Company's Purchases of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended		9 Months Ended
	Aug. 31, 2024		Jul. 31, 2024		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity [Abstract]
Total Number of Shares Purchased	21,586		0		21,586	0	113,411	0
Average Price Paid per Share	$ 46.79	[1]	$ 0	[1]	$ 46.79		$ 45.16
Total Number of Shares Purchased as Part of Publicly Announced Program	21,586		0		21,586
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program	$ 5,320		$ 6,330		$ 5,320		$ 5,320

[1] Average price paid per share includes commissions and excise tax.

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member]	Oct. 22, 2024 $ / shares
O 2024 Q3 Dividends [Member]
Subsequent Event [Line Items]
Date of dividend declared	Oct. 22, 2024
Cash dividend per share	$ 0.37
Date of payment for dividend	Dec. 13, 2024
Date of record for dividend payment	Dec. 06, 2024
S 2024 Q3 Dividends [Member]
Subsequent Event [Line Items]
Cash dividend per share	$ 3