Heritage Insurance (HRTG) 10-Q6 Nov 232023 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, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	Heritage Insurance Holdings, Inc.
Entity Central Index Key	0001598665
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		39,015,533
Entity File Number	001-36462
Entity Tax Identification Number	45-5338504
Entity Address, Address Line One	1401 N. Westshore Blvd
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33607
City Area Code	727
Local Phone Number	362-7200
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of each class	Common Stock, par value $0.0001 per share
Trading Symbol(s)	HRTG
Name of each exchange on which registered	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost of $716,447 and $705,548)	$ 651,520	$ 635,572
Equity securities, at fair value, (cost $1,739 and $1,514)	1,739	1,514
Other investments, net	11,745	16,484
Total investments	665,004	653,570
Cash and cash equivalents	228,848	280,881
Restricted cash	9,733	6,691
Accrued investment income	3,725	3,817
Premiums receivable, net	80,256	92,749
Reinsurance recoverable on paid and unpaid claims, net of allowance for credit losses of $197 and $45	727,435	805,059
Prepaid reinsurance premiums	403,684	306,977
Income tax receivable	14,872	12,118
Deferred income tax asset, net	16,092	16,841
Deferred policy acquisition costs, net	104,098	99,617
Property and equipment, net	32,418	25,729
Right-of-use lease asset, finance	18,214	20,132
Right-of-use lease asset, operating	7,166	7,335
Intangibles, net	44,101	49,575
Other assets	13,060	11,509
Total Assets	2,368,706	2,392,600
LIABILITIES AND STOCKHOLDERS' EQUITY
Unpaid losses and loss adjustment expenses	971,321	1,131,807
Unearned premiums	688,872	656,641
Reinsurance payable	282,663	199,803
Long-term debt, net	122,066	128,943
Advance premiums	33,706	26,516
Accrued compensation	8,611	6,594
Lease liability, finance	20,903	22,557
Lease liability, operating	8,439	8,690
Accounts payable and other liabilities	80,739	80,010
Total Liabilities	2,217,320	2,261,561
Commitments and contingencies (Note 17)
Stockholders’ Equity:
Common stock, $0.0001 par value, 50,000,000 shares authorized, 39,028,260 shares issued and 26,796,586 outstanding at September 30, 2023 and 37,796,107 shares issued and 25,539,433 outstanding at December 31, 2022	3	3
Additional paid-in capital	336,829	334,711
Accumulated other comprehensive loss, net of taxes	(49,719)	(53,585)
Treasury stock, at cost, 12,231,674 shares at each September 30, 2023 and December 31, 2022	(130,900)	(130,900)
Retained deficit	(4,827)	(19,190)
Total Stockholders' Equity	151,386	131,039
Total Liabilities and Stockholders' Equity	$ 2,368,706	$ 2,392,600

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Fixed maturities, at amortized cost	$ 716,447	$ 705,548
Equity securities, cost	1,739	1,514
Reinsurance recoverable net of allowance for credit losses	$ 197	$ 45
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	39,028,260	37,796,107
Common stock, shares outstanding	26,796,586	25,539,433
Treasury stock, shares	12,231,674	12,231,674

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) Income (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
REVENUES:
Gross premiums written		$ 309,510,000	$ 304,501,000	$ 1,016,378,000	$ 952,981,000
Change in gross unearned premiums		27,466,000	3,458,000	(32,366,000)	(61,442,000)
Gross premiums earned		336,976,000	307,959,000	984,012,000	891,539,000
Ceded premiums		(160,335,000)	(148,266,000)	(464,539,000)	(420,645,000)
Net premiums earned		176,641,000	159,693,000	519,473,000	470,894,000
Net investment income		6,867,000	2,887,000	19,048,000	7,050,000
Net realized losses and impairment losses		(379,000)	(3,000)	(49,000)	(121,000)
Other revenue		3,171,000	2,916,000	10,060,000	10,049,000
Total revenues		186,300,000	165,493,000	548,532,000	487,872,000
EXPENSES:
Losses and loss adjustment expenses		131,397,000	155,849,000	335,495,000	397,409,000
Policy acquisition costs, net of ceding commission income	[1]	42,427,000	39,194,000	124,202,000	115,826,000
General and administrative expenses, net of ceding commission income	[2]	21,911,000	17,758,000	61,022,000	54,947,000
Goodwill and intangible asset impairment		0	0	766,600	91,959,000
Total expenses		195,735,000	212,801,000	521,486,000	660,141,000
Operating (loss) income		(9,435,000)	(47,308,000)	27,046,000	(172,269,000)
Interest expense, net		2,591,000	2,027,000	8,211,000	5,750,000
(Loss) income before income taxes		(12,026,000)	(49,335,000)	18,835,000	(178,019,000)
(Benefit) provision for income taxes		(4,602,000)	(1,095,000)	4,472,000	(11,155,000)
Net (loss) income		(7,424,000)	(48,240,000)	14,363,000	(166,864,000)
OTHER COMPREHENSIVE (LOSS) INCOME
Change in net unrealized (losses) gains on investments		(4,494,000)	(17,471,000)	4,664,000	(65,403,000)
Reclassification adjustment for net realized investment losses		379,000	3,000	390,000	121,000
Income tax (expense) benefit related to items of other comprehensive (loss) income		970,000	4,089,000	(1,188,000)	15,282,000
Total comprehensive (loss) income		$ (10,569,000)	$ (61,619,000)	$ 18,229,000	$ (216,864,000)
Weighted average shares outstanding
Basic		26,698,806	26,369,265	25,941,422	26,536,700
Diluted		26,698,806	26,369,265	25,980,931	26,536,700
(Loss) earnings per share
Basic		$ (0.28)	$ (1.83)	$ 0.55	$ (6.29)
Diluted		$ (0.28)	$ (1.83)	$ 0.55	$ (6.29)

[1] Policy acquisition costs includes $ 11.9 million and $ 37.3 million of ceding commission income for the three and nine months ended September 30, 2023 a nd $ 11.7 million and $ 34.9 million of ceding commission income for the three and nine months ended September 30, 2022, respectively . General and administration includes $ 4.0 million and $ 12.3 million of ceding commission income for the three and nine months ended September 30, 2023 and $ 3.8 million and $ 11.5 million of ceding commission income for the three and nine months ended September 30, 2022, respectively.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Ceding commission income	$ 15,914	$ 15,486	$ 49,591	$ 46,426
Policy Acquisition Costs [Member]
Ceding commission income	11,900	11,700	37,300	34,900
General and Administrative Expenses [Member]
Ceding commission income	$ 4,000	$ 3,800	$ 12,300	$ 11,500

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained (Deficit) Earnings [Member]	Treasury Shares [Member]	Accumulated Other Comprehensive Income (Losses) [Member]
Beginning Balance at Dec. 31, 2021	$ 343,051	$ 3	$ 332,797	$ 138,381	$ (123,557)	$ (4,573)
Beginning Balance, Shares at Dec. 31, 2021		26,753,511
Net unrealized change in investments, net of tax	(24,321)					(24,321)
Shares tendered for income taxes withholding	(89)		(89)
Shares tendered for income taxes withholding, Shares		(9,849)
Restricted stock vested, Shares		25,000
Issued restricted stock, Shares		397,176
Stock-based compensation on restricted stock	505		505
Stock buy-back	(5,000)				(5,000)
Stock buy-back, Shares		(721,118)
Cash dividends declared	(1,621)			(1,621)
Net Income (Loss)	(30,759)			(30,759)
Ending balance at Mar. 31, 2022	281,766	$ 3	333,213	106,001	(128,557)	(28,894)
Ending balance, Shares at Mar. 31, 2022		26,444,720
Beginning Balance at Dec. 31, 2021	343,051	$ 3	332,797	138,381	(123,557)	(4,573)
Beginning Balance, Shares at Dec. 31, 2021		26,753,511
Net Income (Loss)	(166,864)
Ending balance at Sep. 30, 2022	117,697	$ 3	334,246	(31,693)	(130,286)	(54,573)
Ending balance, Shares at Sep. 30, 2022		25,898,930
Beginning Balance at Mar. 31, 2022	281,766	$ 3	333,213	106,001	(128,557)	(28,894)
Beginning Balance, Shares at Mar. 31, 2022		26,444,720
Net unrealized change in investments, net of tax	(12,300)					(12,300)
Adjustment to shares tendered for income taxes withholding	31		31
Issued restricted stock, Shares		99,376
Stock-based compensation on restricted stock	503		503
Cash dividends declared	(1,588)			(1,588)
Net Income (Loss)	(87,866)			(87,866)
Ending balance at Jun. 30, 2022	180,546	$ 3	333,747	16,547	(128,557)	(41,194)
Ending balance, Shares at Jun. 30, 2022		26,544,096
Net unrealized change in investments, net of tax	(13,379)					(13,379)
Forfeiture on restricted stock, Shares		(12,422)
Stock-based compensation on restricted stock	499		499
Stock buy-back	(1,729)				(1,729)
Stock buy-back, Shares		(632,744)
Net Income (Loss)	(48,240)			(48,240)
Ending balance at Sep. 30, 2022	117,697	$ 3	334,246	(31,693)	(130,286)	(54,573)
Ending balance, Shares at Sep. 30, 2022		25,898,930
Beginning Balance at Dec. 31, 2022	131,039	$ 3	334,711	(19,190)	(130,900)	(53,585)
Beginning Balance, Shares at Dec. 31, 2022		25,539,433
Net unrealized change in investments, net of tax	9,290					9,290
Shares tendered for income taxes withholding	(8)		(8)
Shares tendered for income taxes withholding, Shares		(4,200)
Restricted stock vested, Shares		25,000
Forfeiture on restricted stock, Shares		(1,482)
Stock-based compensation on restricted stock	395		395
Net Income (Loss)	14,008			14,008
Ending balance at Mar. 31, 2023	154,724	$ 3	335,098	(5,182)	(130,900)	(44,295)
Ending balance, Shares at Mar. 31, 2023		25,558,751
Beginning Balance at Dec. 31, 2022	131,039	$ 3	334,711	(19,190)	(130,900)	(53,585)
Beginning Balance, Shares at Dec. 31, 2022		25,539,433
Net Income (Loss)	14,363
Ending balance at Sep. 30, 2023	151,386	$ 3	336,829	(4,827)	(130,900)	(49,719)
Ending balance, Shares at Sep. 30, 2023		26,796,586
Beginning Balance at Mar. 31, 2023	154,724	$ 3	335,098	(5,182)	(130,900)	(44,295)
Beginning Balance, Shares at Mar. 31, 2023		25,558,751
Net unrealized change in investments, net of tax	(2,279)					(2,279)
Issued restricted stock, Shares		63,744
Stock-based compensation on restricted stock	403		403
Net Income (Loss)	7,779			7,779
Ending balance at Jun. 30, 2023	160,627	$ 3	335,501	2,597	(130,900)	(46,574)
Ending balance, Shares at Jun. 30, 2023		25,622,495
Net unrealized change in investments, net of tax	(3,145)					(3,145)
Issued restricted stock, Shares		1,223,111
Forfeiture on restricted stock	(13)		(13)
Forfeiture on restricted stock, Shares		(49,020)
Stock-based compensation on restricted stock	1,341		1,341
Net Income (Loss)	(7,424)			(7,424)
Ending balance at Sep. 30, 2023	$ 151,386	$ 3	$ 336,829	$ (4,827)	$ (130,900)	$ (49,719)
Ending balance, Shares at Sep. 30, 2023		26,796,586

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - Parenthetical - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, per share, declared	$ 0.06	$ 0.06	$ 0.06

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net income (loss)	$ 14,363,000	$ (166,864,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Stock-based compensation	2,126,000	1,507,000
Bond amortization and accretion	(2,484,000)	2,561,000
Amortization of original issuance discount on debt	362,000	919,000
Goodwill or intangible asset impairment	766,600	91,959,000
Depreciation and amortization	6,463,000	6,233,000
Allowance for bad debt	52,000	10,000
Expected credit allowance on reinsurance	152,000	0
Net realized investment loss	49,000	121,000
Deferred income taxes, net	(439,000)	(8,781,000)
Changes in operating assets and liabilities:
Accrued investment income	92,000	(350,000)
Premiums receivable, net	12,441,000	(4,211,000)
Prepaid reinsurance premiums	(96,707,000)	(115,495,000)
Reinsurance recoverable on paid and unpaid claims	77,472,000	(597,234,000)
Income taxes receivable	(2,754,000)	(2,021,000)
Deferred policy acquisition costs, net	(4,481,000)	(6,768,000)
Right of use leased asset	2,087,000	2,535,000
Other assets	(1,551,000)	1,139,000
Unpaid losses and loss adjustment expenses	(160,486,000)	619,186,000
Unearned premiums	32,231,000	61,494,000
Lease incentives	0	1,622,000
Reinsurance payable	82,860,000	86,570,000
Accrued interest	(441,000)	(160,000)
Accrued compensation	2,017,000	53,000
Advance premiums	7,190,000	13,351,000
Operating lease liabilities	(1,905,000)	(2,271,000)
Other liabilities	1,182,000	(585,000)
Net cash used in operating activities	(29,342,000)	(15,480,000)
INVESTING ACTIVITIES
Fixed maturity securities sales, maturities and paydowns	241,983,000	56,334,000
Fixed maturity securities purchases	(250,783,000)	(88,137,000)
Purchases in other investments	0	(7,500,000)
Sale on other investments and return of capital	5,080,000	14,345,000
Equity securities reinvestments of dividends	(226,000)	(99,000)
Leasehold improvements	0	(3,539,000)
Cost of property and equipment acquired	(8,445,000)	(4,911,000)
Net cash used in investing activities	(12,391,000)	(33,507,000)
FINANCING ACTIVITIES
Repayment of term note	(7,125,000)	(2,625,000)
Mortgage loan payments	(114,000)	(240,000)
Draw from revolver	0	25,000,000
Repurchase of convertible notes	0	(22,529,000)
Purchase of treasury stock	0	(6,729,000)
Tax withholdings on share-based compensation awards	(8,000)	(58,000)
Dividends paid	(11,000)	(4,771,000)
Net cash used in financing activities	(7,258,000)	(11,952,000)
Decrease in cash, cash equivalents, and restricted cash	(48,991,000)	(60,939,000)
Cash, cash equivalents and restricted cash, beginning of period	287,572,000	364,752,000
Cash, cash equivalents and restricted cash, end of period	238,581,000	303,813,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Income taxes paid	7,664,000	6,222,000
Interest paid	$ 6,803,000	$ 4,245,000

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 228,848	$ 280,881
Restricted cash	9,733	6,691
Total	$ 238,581	$ 287,572	$ 303,813	$ 364,752

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, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (7,424)	$ 7,779	$ 14,008	$ (48,240)	$ (87,866)	$ (30,759)	$ 14,363	$ (166,864)

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
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 and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
Basis of Presentation and Significant Accounting Policies	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	NOTE 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The condensed consolidated financial statements include the accounts of Heritage Insurance Holdings, Inc. (together with its subsidiaries, the “Company”). These statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain financial information that is normally included in annual consolidated financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. In the opinion of the Company’s management, all material intercompany transactions and balances have been eliminated and all adjustments consisting of normal recurring accruals which are necessary for a fair statement of the financial condition and results of operations for the interim periods have been reflected. The accompanying interim condensed consolidated financial statements and related footnotes should be read in conjunction with the Company’s audited consolidated financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed on March 13, 2023 (the “2022 Form 10-K”) . Significant accounting policies The accounting policies of the Company are set forth in Note 1 to the consolidated financial statements contained in the Company’s 2022 Form 10-K. Accounting Pronouncements not yet adopted The Company has documented the summary of its significant accounting policies in its Notes to the Audited Consolidated Financial Statements contained in the Company’s 2022 Form 10-K. There have been no material changes to the Company’s accounting policies since the filing of that report. No other new accounting pronouncements issued, but not yet adopted, have had, or are expected to have, a material impact on the Company’s results of operations or financial position.

Investments

Investments	9 Months Ended
Investments	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	NOTE 2. INVESTMENTS Securities Available-for-Sale The amortized cost, gross unrealized gains and losses, and fair value of the Company’s debt securities available-for-sale are as follows for the periods presented: September 30, 2023 Cost or Adjusted / Gross Unrealized Gross Unrealized Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 174,962 $ 5 $ 2,377 $ 172,590 States, municipalities and political subdivisions 94,079 — 12,099 81,980 Special revenue 256,159 — 33,054 223,104 Industrial and miscellaneous 191,247 7 17,409 173,845 Total $ 716,447 $ 12 $ 64,939 $ 651,520 (1) Includes securities at September 30, 2023 with a carrying amount of $ 25.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. December 31, 2022 Cost or Adjusted / Gross Unrealized Gross Unrealized Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 121,811 $ 24 $ 4,093 $ 117,742 States, municipalities and political subdivisions 104,361 — 12,734 91,627 Special revenue 284,946 1 34,817 250,130 Industrial and miscellaneous 194,430 90 18,447 176,073 Total $ 705,548 $ 115 $ 70,091 $ 635,572 (1) Includes securities at December 31, 2022 with a carrying amount of $ 24.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. Net Realized and Unrealized Losses and Impairments The following tables present net realized losses on the Company’s debt securities available-for-sale for the three and nine months ended September 30, 2023 and 2022, respectively : 2023 2022 Three Months Ended September 30, Gains Fair Value at Sale Gains Fair Value at Sale (In thousands) Debt Securities Available-for-Sale Total realized gains $ 2 $ 1,498 $ — $ 50 Total realized losses ( 381 ) 40,705 ( 3 ) 110 Net realized losses $ ( 379 ) $ 42,202 $ ( 3 ) $ 160 2023 2022 Nine Months Ended September 30, Gains Fair Value at Sale Gains Fair Value at Sale (In thousands) Debt Securities Available-for-Sale Total realized gains $ 1 $ 1,900 $ 32 $ 2,451 Total realized losses ( 391 ) 41,137 ( 153 ) 6,206 Net realized losses $ ( 390 ) $ 43,037 $ ( 121 ) $ 8,657 The following table presents the reconciliation of net realized losses and impairments of the Company’s investments reported for the three and nine months ended September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Gross realized gains on sales of available-for-sale securities $ 2 $ — $ 1 $ 32 Impairments on other investments — — ( 1,559 ) — Realized losses on sales of available-for-sale securities ( 381 ) ( 3 ) ( 391 ) ( 153 ) Gross realized gains on sale of other investments (1) — — 1,900 — Net realized losses and impairments $ ( 379 ) $ ( 3 ) $ ( 49 ) $ ( 121 ) (1) During the first quarter, the Company sold its investment in an Insurtech company for $ 4.0 million, resulting in a $ 1.9 million realized gain on the investment. The table below summarizes the Company’s debt securities at September 30, 2023 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of those obligations. At September 30, 2023 Cost or Amortized Cost Percent of Total Fair Value Percent of Total Maturity dates: (In thousands) (In thousands) Due in one year or less $ 177,224 24.7 % $ 175,446 26.9 % Due after one year through five years 356,122 49.7 % 325,531 50.0 % Due after five years through ten years 148,815 20.8 % 121,684 18.7 % Due after ten years 34,286 4.8 % 28,859 4.4 % Total $ 716,447 100.0 % $ 651,520 100.0 % Net Investment Income The following table summarizes the Company’s net investment income by major investment category for the three and nine months ended September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Debt securities $ 4,685 $ 2,992 $ 12,723 $ 7,695 Equity securities 79 — 170 — Cash and cash equivalents 1,746 273 6,195 433 Other investments 687 135 1,525 447 Net investment income 7,197 3,400 20,613 8,575 Less: Investment expenses 330 513 1,565 1,525 Net investment income, less investment expenses $ 6,867 $ 2,887 $ 19,048 $ 7,050 The following tables present, for all debt securities available-for-sale in an unrealized loss position (including securities pledged) and for which no credit loss allowance has been established to date, the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position at September 30, 2023 and December 31, 2022, respectively (in thousands): Less Than Twelve Months Twelve Months or More September 30, 2023 Number of Gross Fair Value Number of Gross Fair Value Debt Securities Available-for-sale U.S. government and agency securities 24 $ 141 $ 67,724 58 $ 2,236 $ 63,678 States, municipalities and political subdivisions 2 32 2,261 109 12,067 77,265 Special revenue 26 184 11,773 427 32,870 208,881 Industrial and miscellaneous 56 523 34,925 211 16,886 133,162 Total fixed maturity securities 108 $ 880 $ 116,683 805 $ 64,059 $ 482,986 Less Than Twelve Months Twelve Months or More December 31, 2022 Number of Gross Fair Value Number of Gross Fair Value Debt Securities Available-for-sale U.S. government and agency securities 61 $ 2,040 $ 56,389 36 $ 2,053 $ 56,389 States, municipalities and political 28 1,967 17,730 95 10,767 68,852 Special revenue 273 5,832 57,881 259 28,985 167,384 Industrial and miscellaneous 95 1,535 32,387 197 16,912 134,462 Total fixed maturity securities 457 $ 11,374 $ 164,386 587 $ 58,717 $ 427,087 The Company’s unrealized losses on corporate bonds have not been recognized because the bonds are of a high credit quality with investment grade ratings. The average rating was an A+ for the nine months ended September 30, 2023. The Company does not intend to sell and it is unlikely the Company will be required to sell the securities prior to their anticipated recovery. The debt issuers continue to make timely principal and interest payments on the bonds. After taking into account these and other factors previously described, the Company believes these unrealized losses generally were caused by an increase in market interest rates since the time the securities were purchased and not as a result of credit losses. No credit loss allowan ce was recorded for the nine months ended September 30, 2023 or for the year ended December 31, 2022. Quarterly, the Company considers whether it intends to sell an available-for-sale security or if it is more likely than not that it will be required to sell the security before recovery of its amortized costs. In these instances, a decline in fair value is recognized in net income based on the fair value of the security at the time of assessment, resulting in a new cost basis for the security. Other Investments Non-Consolidating Variable Interest Entities (“VIEs”) The Company makes passive investments in limited partnerships (“LPs”), which are accounted for using the equity method, with income reported in earnings. The Company also holds a passive investment in a Real Estate Investment Trust (“REIT”), which is accounted for using the measurement alternative method, and reported at cost less impairment (if any), plus or minus changes from observable price changes. During the nine months ended September 30, 2023, the Company recorded a $ 1.6 million impairment on certain non-consolidated VIEs. At December 31, 2022, the Company held an equity investment in an Insurtech company, which was sold during the three months ended March 31, 2023 at a gain. The following table summarizes the carrying value and maximum loss exposure of the Company’s non-consolidated VIEs at September 30, 2023 and December 31, 2022, respectively (in thousands): As of September 30, 2023 As of December 31, 2022 Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investments in non-consolidated VIEs - Equity method $ 1,821 $ 1,821 $ 3,517 $ 3,517 Investments in non-consolidated VIEs - Amortized cost $ 8,490 $ 8,490 $ 8,490 $ 8,490 Investments in non-consolidated VIEs - Measurement alternative $ 1,434 $ 1,434 $ 4,477 $ 4,477 Total non-consolidated VIEs $ 11,745 $ 11,745 $ 16,484 $ 16,484 No agreements exist requiring the Company to provide additional funding to any of the non-consolidated VIEs in excess of the Company’s initial investment.

Fair Value of Financial Measure

Fair Value of Financial Measurements	9 Months Ended
Fair Value of Financial Measurements	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 3. FAIR VALUE OF FINANCIAL MEASUREMENTS Fair value is determined based on the exchange price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company is required to use an established hierarchy for fair value measurements based upon the inputs to the valuation and degree to which they are observable or not observable in the market. The three levels in the hierarchy are as follows: • Level 1 – Unadjusted quoted prices are available in active markets for identical assets/liabilities as of the reporting date. • Level 2 – Valuations based on observable inputs, such as quoted prices for similar assets or liabilities at the measurement date; quoted prices in the markets that are not active; or other inputs that are observable, either directly or indirectly. • Level 3 – Pricing inputs are unobservable and significant to the overall fair value measurement, and the determination of fair value requires significant management judgment or estimation. The highest priority is assigned to Level 1 inputs and the lowest priority to Level 3 inputs. At September 30, 2023 and December 31, 2022, there were no transfers in or out of Level 1, 2, and 3. The following table presents information about the Company’s assets measured at fair value on a recurring basis. The Company assesses the levels for the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Company’s accounting policy regarding the recognitions of transfers between levels of the fair value hierarchy. The tables below present the balances of the Company’s invested assets measured at fair value on a recurring basis: September 30, 2023 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Invested Assets: (In thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 172,590 $ — $ 172,590 $ — States, municipalities and political subdivisions 81,980 — 81,980 — Special revenue 223,104 — 223,104 — Industrial and miscellaneous 173,845 — 173,845 — Total investments $ 651,520 $ — $ 651,520 $ — December 31, 2022 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Invested Assets: (In thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 117,742 $ — $ 117,742 $ — States, municipalities and political subdivisions 91,627 — 91,627 — Special revenue 250,130 — 250,130 — Industrial and miscellaneous 176,073 — 176,073 — Total investments $ 635,572 $ — $ 635,572 $ — Financial Instruments excluded from the fair value hierarchy The carrying value of premium receivables, accounts payable, accrued expense, revolving loans and borrowings under the Company’s senior secured credit facility approximate their fair value. The rate at which revolving loans and borrowings under the Company’s senior secured credit facility bear interest resets periodically at market interest rates. Non-recurring fair value measurements Assets and liabilities that are measured at fair value on a non-recurring basis include intangible assets which are recognized at fair value during the period in which an acquisition is completed, from updated estimates and assumptions during the measurement period, or when they are considered to be impaired. For the nine months ended September 30, 2023, the Company recorded an impairment of approximately $ 1.0 million for a loss measurement based on the difference between the acquisition costs and current fair value (less any prior impairment loss that security previously recognized) on certain equity method investments. Changes in the fair value of equity securities are also included in net realized losses and impairment losses on the Company's Consolidated Statements of Comprehensive (Loss) Income and are not reversed. Certain of the Company’s investments are measured in accordance with GAAP for the type of investment, using methodologies other than fair value. For the nine months ended September 30, 2023 , the Company recorded an impairment for named intangible assets related to certain brands and customer relations within the Company's restoration service provider with a net value of $ 766,600 , which were impaired due to the discontinuation of providing restoration services to the Company’s policyholders. During the second quarter of 2022, m anagement concluded that it had a full impairment of its remaining goodwill and that the carrying value of $ 92.0 million should be written off based on the following factors: (i) disruptions in the equity markets, specifically for property and casualty insurance companies, largely due to recent weather-related catastrophe events; (ii) elevated loss ratios for property insurers in the Company's markets; and (iii) the Company's market cap was below book value.

Other Comprehensive (Loss) Inco

Other Comprehensive (Loss) Income	9 Months Ended
Other Comprehensive (Loss) Income	Sep. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Other Comprehensive (Loss) Income	NOTE 4. OTHER COMPREHENSIVE (LOSS) INCOME The following tables summarize other comprehensive income (loss) and disclose the tax impact of each component of other comprehensive income (loss) for the three and nine months ended September 30, 2023 and 2022, respectively: For the Three Months Ended September 30, 2023 2022 Pre-tax Tax After-tax Pre-tax Tax After-tax (In thousands) Other comprehensive loss Change in unrealized losses on investments, net $ ( 4,494 ) $ 1,059 $ ( 3,435 ) $ ( 17,471 ) $ 4,090 $ ( 13,381 ) Reclassification adjustment of realized losses included in net loss 379 ( 89 ) 290 3 ( 1 ) 2 Effect on other comprehensive loss $ ( 4,115 ) $ 970 $ ( 3,145 ) $ ( 17,468 ) $ 4,089 $ ( 13,379 ) For the Nine Months Ended September 30, 2023 2022 Pre-tax Tax After-tax Pre-tax Tax After-tax (In thousands) Other comprehensive income (loss) Change in unrealized gains (losses) on investments, net $ 4,664 $ ( 1,097 ) $ 3,567 $ ( 65,403 ) $ 15,310 $ ( 50,093 ) Reclassification adjustment of realized losses included in net income (loss) 390 ( 92 ) 298 121 ( 28 ) 93 Effect on other comprehensive income (loss) $ 5,054 $ ( 1,188 ) $ 3,866 $ ( 65,282 ) $ 15,282 $ ( 50,000 )

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2023
Leases [Abstract]
Leases	NOTE 5. LEASES The Company has entered into operating and financing leases primarily for real estate and vehicles. The Company will determine whether an arrangement is a lease at inception of the agreement. The operating leases have terms of one to ten years , and often include one or more options to renew . These renewal terms can extend the lease term from two to ten years and are included in the lease term when it is reasonably certain that the Company will exercise the option. The Company considers these options in determining the lease term used in establishing the Company’s right-of-use assets and lease obligations. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Because the rate implicit in each operating lease is not readily determinable, the Company uses its incremental borrowing rate to determine present value of the lease payments. The Company used the implicit rates within the finance leases. Components of the Company’s lease costs were as follows (in thousands): For The Nine Months Ended September 30, 2023 2022 Operating lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations $ 1,183 $ 1,055 Finance lease cost: Amortization of assets, included in General & Administrative expenses on the Consolidated Statements of Operations 1,921 1,943 Interest on lease liabilities, included in Interest expense on the Consolidated Statements of Operations 671 739 Total finance lease cost $ 2,592 $ 2,682 Variable lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations $ 1,175 $ 713 Short-term lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations $ 113 $ 142 Supplemental balance sheet information related to the Company’s operating and financing leases were as follows (in thousands): Operating Leases September 30, 2023 December 31, 2022 Right of use assets $ 7,166 $ 7,335 Lease liability $ 8,439 $ 8,690 Finance Leases Right of use assets $ 18,214 $ 20,132 Lease liability $ 20,903 $ 22,557 Weighted-average remaining lease term and discount rate for the Company’s operating and financing leases for the periods presented below were as follows: Weighted-average remaining lease term September 30, 2023 December 31, 2022 Operating lease 5.80 yrs. 6.49 yrs. Finance lease 7.41 yrs. 8.13 yrs. Weighted-average discount rate Operating lease 4.90 % 5.14 % Finance lease 4.15 % 4.16 % Maturities of lease liabilities by fiscal year for the Company’s operating and financing leases were as follows (in thousands): Financing Lease Operating Lease 2023 $ 761 $ 427 2024 3,101 1,716 2025 3,166 1,609 2026 3,197 1,587 2027 3,190 1,595 2028 and thereafter 10,920 2,846 Total lease payments 24,335 9,780 Less: imputed interest ( 3,432 ) ( 1,341 ) Present value of lease liabilities $ 20,903 $ 8,439

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
Property and Equipment, Net	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	NOTE 6. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following at September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 (In thousands) Land $ 2,582 $ 2,582 Building 9,599 9,599 Software in progress 14,081 6,884 Computer hardware and software 9,962 8,851 Office furniture and equipment 1,484 1,381 Tenant and leasehold improvements 10,519 10,485 Vehicle fleet 594 594 Total, at cost 48,821 40,376 Less: accumulated depreciation and amortization ( 16,403 ) ( 14,647 ) Property and equipment, net $ 32,418 $ 25,729 For the three and nine months ended September 30, 2023, the Company invested $ 1.1 million and $ 7.1 million, respectively, for software development and implementation services for a new policy, billing and claims system. On June 12, 2023, the Company placed into service the claims component of the software valued at approximately $ 2.0 million with the remaining components anticipated to be placed into service in early 2024. Depreciation and amortization expense for property and equipment was approximately $ 653,000 and $ 544,900 for the three months ended September 30, 2023 and 2022, respectively. Depreciation and amortization expense for property and equipment was approximately $ 1.8 million and $ 1.5 million for the nine months ended September 30, 2023 and 2022, respectively. The Company owns real estate consisting of 13 acres of land, two buildings with a gross area of 88,378 square feet and a parking garage.

Intangible Assets

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 7. INTANGIBLE ASSETS At September 30, 2023 and December 31, 2022, intangible assets were $ 44.1 million and $ 49.6 million, respectively. The Company has determined the useful life of its intangible assets to range between 2.5 - 15 years . Intangible assets include $ 1.3 million relating to insurance licenses which is classified as an indefinite lived intangible. Impairment testing is required when events occur that indicate an asset may not be recoverable, such as a triggering event. Management reviews other intangible assets for impairment annually during the fourth quarter, or more frequently should events or changes in circumstances indicate that the Company's other intangible assets might be impaired. The Company’s intangible assets consist of brand, agent relationships, renewal rights, customer relations, trade names and insurance licenses. During the second quarter of 2023, certain brand and customer relations within the Company's restoration provider with a net value of $ 766,600 were impaired due to the discontinuation of providing restoration services to the Company’s policyholders. The impairment loss of $ 766,600 was included in Goodwill and intangible asset impairment in the Company's consolidated statements of operations for the nine months ended September 30, 2023. Other than the impairment of certain brand and customer relations due to the discontinued services described above, there was no impairment of the intangible assets with definite lives for the three and nine months ended September 30, 2023. During the second quarter of 2022, management concluded the remaining balance of its goodwill was fully impaired and that its carrying value of $ 92.0 million be written off based on the following factors: (i) disruptions in the equity markets, specifically for property and casualty insurance companies, largely due to recent weather-related catastrophe events; (ii) elevated loss ratios for property insurers in the Company's markets; and (iii) the Company's market cap was below book value. These factors reduced the Company's previously modeled fair value of the Company and resulted in a $ 92.0 million goodwill impairment charge, most of which is not tax deductible. Amortization expense of the Company’s intangible assets for each of the respective three and nine month periods ended September 30, 2023 and 2022 was $ 1.6 million and $ 4.8 million, respectively. Estimated annual pretax amortization of intangible assets for each of the next five years and thereafter is as follows (in thousands): Year Amount 2023 - remaining $ 1,546 2024 $ 6,183 2025 $ 6,183 2026 $ 6,033 2027 $ 5,836 Thereafter $ 17,003 Total $ 42,786

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
Earnings (Loss) Per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	NOTE 8. EARNINGS (LOSS) PER SHARE The following table sets forth the computation of basic and diluted earnings (loss) per share (“EPS”) for the periods indicated ( amounts in thousands, except share and per share amounts). Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic and Diluted Net (loss) income available to common shareholders — basic and diluted $ ( 7,424 ) $ ( 48,240 ) $ 14,363 $ ( 166,864 ) Common Shares Basic Weighted average shares outstanding 26,698,806 26,369,265 25,941,422 26,536,700 Diluted Weighted average shares outstanding 26,698,806 26,369,265 25,941,422 26,536,700 Weighted average effects of dilutive securities — convertible notes — — 39,509 — Total 26,698,806 26,369,265 25,980,931 26,536,700 Net (loss) income per common share Basic $ ( 0.28 ) $ ( 1.83 ) $ 0.55 $ ( 6.29 ) Diluted $ ( 0.28 ) $ ( 1.83 ) $ 0.55 $ ( 6.29 ) For the reported periods in the table above with a net loss position the diluted earnings per shares would not be considered for the conversion as the Convertible Notes were antidilutive for the each of the respective periods. Th e Company had 59,263 antidilutive shares for the three months ended September 30, 2023 and 196,914 , antidilutive shares for the comparable period of September 30, 2022. The convertible notes were excluded from the computations because the conversion price on these notes was greater than the average market price of the Company's common stock during each of the respective periods, and therefore, would be anti-dilutive to earnings per share under the "if converted" method under the guidance of ASU 2020-06, adopted by the Company on January 1, 2022.

Deferred Reinsurance Ceding Com

Deferred Reinsurance Ceding Commission	9 Months Ended
Deferred Reinsurance Ceding Commission	Sep. 30, 2023
Insurance [Abstract]
Deferred Reinsurance Ceding Commission	NOTE 9. DEFERRED REINSURANCE CEDING COMMISSION The Company defers reinsurance ceding commission income, which is amortized over the effective period of the related insurance policies. For the three months ended September 30, 2023 and 2022, the Company allocated ceding commission income of $ 11.9 million and $ 11.7 million to policy acquisition costs and $ 4.0 million and $ 3.8 million to general and administrative expense, respectively. For the nine months ended September 30, 2023 and 2022, the Company allocated ceding commission income of $ 37.3 million and $ 34.9 million to policy acquisition costs and $ 12.3 million and $ 11.5 million to general and administrative expense, respectively. The table below depicts the activity regarding deferred reinsurance ceding commission, included in accounts payable and other liabilities during the three and nine months ended September 30, 2023 and 2022 . Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Beginning balance of deferred ceding commission income $ 37,990 $ 38,529 $ 42,758 $ 40,405 Ceding commission deferred 13,957 17,046 42,866 46,110 Less: ceding commission earned ( 15,914 ) ( 15,486 ) ( 49,591 ) ( 46,426 ) Ending balance of deferred ceding commission income $ 36,033 $ 40,089 $ 36,033 $ 40,089

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	9 Months Ended
Deferred Policy Acquisition Costs	Sep. 30, 2023
Insurance [Abstract]
Deferred Policy Acquisition Costs	NOTE 10. DEFERRED POLICY ACQUISITION COSTS The Company defers certain costs in connection with written policies, called deferred policy acquisition costs (“DPAC”), which are amortized over the effective period of the related insurance policies. The Company anticipates that its DPAC will be fully recoverable in the near term. The table below depicts the activity regarding DPAC for the three and nine months ended September 30, 2023 and 2022. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Beginning Balance $ 106,736 $ 99,468 $ 99,617 $ 93,881 Policy acquisition costs deferred 42,427 39,194 149,536 139,028 Amortization ( 45,064 ) ( 38,013 ) ( 145,054 ) ( 132,260 ) Ending Balance $ 104,098 $ 100,649 $ 104,098 $ 100,649

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11. INCOME TAXES For the three months ended September 30, 2023 and 2022, the Company recorded income tax benefits of $ 4.6 million and $ 1.1 million, respectively, which corresponds to effective tax rates of 38.3 % and 2.2 %, respectively. For the nine months ended September 30, 2023 and 2022, the Company recorded an income tax provision of $ 4.5 million and an income tax benefit of $ 11.2 million, respectively, which corresponds to effective tax rates of 23.7 % and 6.3 %, respectively. The effective tax rate for the three months ended September 30, 2023 benefited from a reduction in the valuation allowance related to certain tax elections made by Osprey Re, the Company’s captive reinsurer domiciled in Bermuda. The effective tax rate for the three months ended September 30, 2022 was impacted by the establishment of a $ 10.7 million valuation allowance related to Osprey Re. The Company re-evaluates the valuation allowance on a quarterly basis. The effective tax rate for the nine months ended September 30, 2023 benefitted from a reduction in the valuation allowance as described above. The effective tax rate for the nine months ended September 30, 2022 was impacted by the mostly non-deductible goodwill impairment charge and establishment of a $ 10.7 million increase to the valuation allowance. Effective tax rates are dependent upon components of pre-tax earnings and the related tax effects. The effective tax rate is also affected by various permanent tax differences and can fluctuate throughout the year as estimates used in the tax provision for each quarter are updated as more information becomes available throughout the year. Additionally, the state effective income tax rate can also fluctuate as a result of changes in the geographic dispersion of the Company’s business. The table below summarizes the significant components of the Company’s net deferred tax assets: September 30, 2023 December 31, 2022 Deferred tax assets: (In thousands) Unearned premiums $ 19,083 $ 17,060 Unearned ceding commission 8,472 10,053 Net operating loss 1,110 1,189 Tax-related discount on loss reserve 5,783 4,902 Stock-based compensation 827 297 Accrued expenses 1,833 1,016 Leases 672 885 Unrealized losses 15,885 16,987 Dual Consolidated loss limitation 1,437 9,740 Other 363 238 Total deferred tax asset 55,465 62,367 Valuation allowance ( 1,870 ) ( 6,376 ) Adjusted deferred tax asset 53,595 55,991 Deferred tax liabilities: Deferred acquisition costs $ 24,474 $ 23,420 Prepaid expenses 262 180 Property and equipment 630 2,200 Note discount 290 290 Basis in purchased investments 8 28 Basis in purchased intangibles 9,932 11,178 Other 1,907 1,854 Total deferred tax liabilities 37,503 39,150 Net deferred tax assets $ 16,092 $ 16,841 The income tax expense or benefit differs from the amounts computed by applying the U.S. federal income tax rate of as indicated below to pretax income as a result of the following: For the Nine Month Ended September 30, 2023 2022 Expected income tax expense at federal rate 21.0 % 21.0 % Tax exempt interest ( 0.6 ) % 0.1 % Executive compensation 162(m) 0.6 % ( 0.1 ) % Permanent items 18.4 % ( 0.1 ) % State tax expense 8.2 % 1.4 % Change in valuation allowance ( 23.9 ) % ( 6.0 ) % Goodwill impairment 0.0 % ( 9.9 ) % Reported income tax expense 23.7 % 6.3 % The statute of limitations related to the Company’s federal and state income tax returns remains open from the Company’s filings for 2020 through 2022. At September 30, 2023 and December 31, 2022, the Company had no significant uncertain tax positions or unrecognized tax benefits that, if recognized, would impact the effective income tax rate.

Reinsurance

Reinsurance	9 Months Ended
Reinsurance	Sep. 30, 2023
Insurance [Abstract]
Reinsurance	NOTE 12. REINSURANCE Overview In order to limit the Company’s potential exposure to individual risks and catastrophic events, the Company purchases significant reinsurance from third party reinsurers. Purchasing reinsurance is an important part of the Company’s risk strategy, and premiums ceded to reinsurers is one of the Company’s largest costs. The Company has strong relationships with reinsurers, which it attributes to its management’s industry experience, disciplined underwriting, and claims management capabilities. For each of the twelve months beginning June 1, 2023 and 2022, the Company purchased reinsurance from the following sources: (i) the Florida Hurricane Catastrophe Fund, a state-mandated catastrophe fund (“FHCF”) for Florida admitted market policies only, (ii) private reinsurers, all of which were rated “A-” or higher by A.M. Best Company, Inc. (“A.M. Best”) or Standard & Poor’s Financial Services LLC (“S&P”) or were fully collateralized, and (iii) the Company’s captive wholly-owned reinsurance subsidiary, Osprey Re Ltd. (“Osprey Re”). The Company also sponsored catastrophe bonds in 2023 and 2022 through Citrus Re Ltd., a Bermuda special purpose insurer, which provides an alternative to traditional reinsurance through the issuance of catastrophe bonds. In addition to purchasing excess of loss catastrophe reinsurance, the Company also purchased quota share, property per risk and facultative reinsurance. The Company’s quota share program limits its exposure on catastrophe and non-catastrophe losses and provides ceding commission income. The Company’s per risk programs limit its net exposure in the event of a severe non-catastrophe loss impacting a single location or risk. The Company also utilizes facultative reinsurance to supplement its per risk reinsurance program where the Company capacity needs dictate. Purchasing a sufficient amount of reinsurance to cover catastrophic losses from single or multiple events or significant non-catastrophe losses is an important part of the Company’s risk strategy. Reinsurance involves transferring, or “ceding”, a portion of the risk exposure on policies the Company writes to another insurer, known as a reinsurer. To the extent that the Company’s reinsurers are unable to meet the obligations they assume under the Company’s reinsurance agreements, the Company remains liable for the entire insured loss. The Company’s insurance regulators require all insurance companies, like the Company, to have a certain amount of capital and reinsurance coverage in order to cover losses and loss adjustment expenses upon the occurrence of a catastrophic event. The Company’s reinsurance program provides reinsurance in excess of its state regulator requirements, which are based on the probable maximum loss that it would incur from an individual catastrophic event estimated to occur once in every 100 years based on its portfolio of insured risks. The nature, severity and location of the event giving rise to such a probable maximum loss differs for each insurer depending on the insurer’s portfolio of insured risks, including, among other things, the geographic concentration of insured value within such portfolio. As a result, a particular catastrophic event could be a 1-in-100 year loss event for one insurance company while having a greater or lesser probability of occurrence for another insurance company. The Company also purchases reinsurance coverage to protect against the potential for multiple catastrophic events occurring in the same year. The Company shares portions of its reinsurance program coverage among its insurance company affiliates. 2023 - 2024 Reinsurance Program Catastrophe Excess of Loss Reinsurance Effective June 1, 2023, the Company entered into catastrophe excess of loss reinsurance agreements covering Heritage Property & Casualty Insurance Company (“Heritage P&C”), Zephyr Insurance Company (“Zephyr”) and Narragansett Bay Insurance Company (“NBIC”). The catastrophe reinsurance programs are allocated among traditional reinsurers, the Florida Hurricane Catastrophe Fund (“FHCF”), Citrus Re and Osprey Re. The FHCF covers Florida admitted market risks only and the Company elected to participate at 90 % for the 2023 hurricane season. Additionally, for Florida admitted market risks, the Company also has reinsurance from the Reinsurance to Assist Policyholders (“RAP”) program created by the Florida legislature, which provides reinsurance at no cost to the Company. Osprey Re will provide reinsurance for a portion of the Heritage P&C, NBIC and Zephyr programs. The Company’s third-party reinsurers are either rated “A-” or higher by A.M. Best or S&P or are fully collateralized, to reduce credit risk. Osprey Re and Citrus Re are fully collateralized programs. The reinsurance program, which is segmented into layers of coverage, protects the Company for excess property catastrophe losses and loss adjustment expenses. The 2023-2024 reinsurance program provides first event coverage up to $ 1.1 billion for Heritage P&C, first event coverage up to $ 1.3 billion for NBIC, and first event coverage up to $ 870.0 million for Zephyr. The Company’s first event retention in a 1 in 100-year event would include retention for the respective insurance company as well as any retention by Osprey. The first event maximum retention up to a 1 in 100-year event for each insurance company subsidiary is as follows: Heritage P&C – $ 40.0 million, of which $ 40.0 million would be ceded to Osprey; NBIC – $ 30.0 million of which $ 30 million would be ceded to Osprey in a shared contract with Zephyr; and Zephyr – $ 40 million, of which $ 30 million would be ceded to Osprey in a shared contract with NBIC. The Company is responsible for all losses and loss adjustment expenses in excess of the Company's reinsurance program. For second or subsequent catastrophic events, the Company’s total available coverage depends on the magnitude of the first event, as the Company may have coverage remaining from layers that were not previously fully exhausted. An aggregate of $ 2.9 billion of limit purchased in 2023 includes reinstatement through the purchase of reinstatement premium protection. The amount of coverage, however, will be subject to the severity and frequency of such events. Additionally, the Company placed an occurrence contract for business underwritten by NBIC which covers all catastrophe losses excluding named storms, on December 31, 2022, expiring December 31, 2023 . The contract is 70% placed with a $ 15.0 million limit in excess of a retention of $ 25.0 million, with the remaining 30% placed with a $ 20.0 million limit in excess of a retention of $ 20.0 million, with one reinstatement available. The Company placed an aggregate contract for the Company’s business underwritten by NBIC which covers all catastrophe losses excluding named storms, on December 1, 2022, expiring March 31, 2023 . The limit on the contract is $ 20.0 million with an aggregate retention of $ 21.0 million, with a $ 21.0 million per occurrence cap, and a $ 2.0 million franchise deductible. Net Quota Share Reinsurance The Company’s Net Quota Share coverage is proportional reinsurance, which applies to business underwritten by NBIC, for which certain of the Company’s other reinsurance (property catastrophe excess of loss and the second layer of the general excess of loss) inures to the quota share program. An occurrence limit of $ 20.0 million for catastrophe losses is in effect on the quota share program, subject to certain aggregate loss limits that vary by reinsurer. The amount and rate of ceding commissions slide, within a prescribed minimum and maximum, depending on loss performance. The Net Quota Share program was renewed on December 31, 2022 ceding 41.0 % of the net premiums and losses and 16.0 % of the prior year quota share is in run off. Per Risk Coverage For losses arising from business underwritten by Heritage P&C and losses arising from commercial residential business underwritten by NBIC, excluding losses from named storms, the Company purchased property per risk coverage for losses and loss adjustment expenses in excess of $ 1.0 million per claim. The limit recoverable for an individual loss is $ 9.0 million and total limit for all losses is $ 27.0 million. There are two reinstatements available with additional premium due based on the amount of the layer exhausted. This coverage is 100 % placed for the contract period of June 15, 2022 through June 14, 2023, and 90 % placed for the contract period from June 15, 2023 through June 14, 2024. For losses arising from personal residential business underwritten by NBIC, the Company also purchased property per risk coverage for losses and loss adjustments expenses in excess of $ 750,000 per claim. The limit recovered for an individual loss is $ 250,000 and total limit for all losses is $ 750,000 . There are two reinstatements available with additional premium due based on the amount of the layer exhausted. In addition, the Company purchased facultative reinsurance for losses in excess of $ 10.0 million for any properties it insured where the total insured value exceeded $ 10.0 million. This coverage applies to losses arising from business underwritten by Heritage P&C and losses arising from commercial residential business underwritten by NBIC, excluding losses from named storms. The Company also purchased facultative reinsurance for losses underwritten by NBIC in excess of $ 3.5 million. General Excess of Loss The Company’s general excess of loss reinsurance protects business underwritten by NBIC and Zephyr multi-peril policies from single risk losses. For the contract period of July 1, 2022 through June 30, 2023, the coverage is $ 2.75 million excess $ 750,000 for property losses and $ 1.25 million excess $ 750,000 for casualty losses, and is 67.5 % place d. For the contract period of July 1, 2023 through June 30, 2024, the coverage is $ 2.5 million excess $ 1.0 million for property losses and $ 1.0 million excess $ 1.0 million for casualty losses, and is 67.5 % placed. For a detailed discussion of the Company’s 2022-2023 Reinsurance Program Refer to Part I, “Business”, Part II, Item 8, “Financial Statements and Supplementary Data” and “ Note 12. Reinsurance ” in the Company’s 2022 Form 10-K. Effect of Reinsurance The Company’s reinsurance arrangements had the following effect on certain items in the condensed consolidated statement of income for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Premium written: Direct $ 309,510 $ 304,501 $ 1,016,378 $ 952,981 Ceded ( 54,850 ) ( 60,885 ) ( 561,283 ) ( 536,139 ) Net $ 254,660 $ 243,616 $ 455,095 $ 416,842 Premiums earned: Direct $ 336,976 $ 307,959 $ 984,012 $ 891,539 Ceded ( 160,335 ) ( 148,266 ) ( 464,539 ) ( 420,645 ) Net $ 176,641 $ 159,693 $ 519,473 $ 470,894 Loss and Loss Adjustment Expenses Direct $ 450,524 $ 809,993 $ 757,560 $ 1,147,243 Ceded ( 319,127 ) ( 654,144 ) ( 422,065 ) ( 749,834 ) Net $ 131,397 $ 155,849 $ 335,495 $ 397,409

Reserve For Unpaid Losses

Reserve For Unpaid Losses	9 Months Ended
Reserve For Unpaid Losses	Sep. 30, 2023
Insurance [Abstract]
Reserve for Unpaid Losses	NOTE 13. RESERVE FOR UNPAID LOSSES The Company determines the reserve for unpaid losses on an individual-case basis for all incidents reported. The liability also includes amounts which are commonly referred to as incurred but not reported, or “IBNR”, claims as of the balance sheet date. The Company estimates its IBNR reserves by projecting its ultimate losses using industry accepted actuarial methods and then deducting actual loss payments and case reserves from the projected ultimate losses. The table below summarizes the activity related to the Company’s reserve for unpaid losses: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Balance, beginning of period $ 817,859 $ 553,909 $ 1,131,807 $ 590,166 Less: reinsurance recoverable on unpaid losses 442,289 235,239 759,681 301,757 Net balance, beginning of period 375,570 318,670 372,126 288,409 Incurred related to: Current year 130,604 156,855 338,890 395,921 Prior years 793 ( 1,006 ) ( 3,395 ) 1,489 Total incurred 131,397 155,849 335,495 397,410 Paid related to: Current year 76,524 70,914 160,468 170,255 Prior years ( 18,512 ) 24,088 98,198 136,047 Total paid 58,012 95,002 258,666 306,302 Net balance, end of period 448,955 379,517 448,955 379,517 Plus: reinsurance recoverable on unpaid losses 522,366 829,835 522,366 829,835 Balance, end of period $ 971,321 $ 1,209,352 $ 971,321 $ 1,209,352 The Company believes that the reserve for unpaid losses reasonably represents the amount necessary to pay all claims and related expenses which may arise from incidents that have occurred as of the balance sheet date. As of September 30, 2023, the Company reported $ 449.0 million in unpaid losses and loss adjustment expenses, net of reinsurance which included $ 291.0 million attributable to IBNR net of reinsurance recoverable, or 64.8 % of net reserves for unpaid losses and loss adjustment expenses. For the three months ended September 30, 2023, the Company experienced $ 793,000 of net unfavorable prior year loss development compared to $ 1.0 million of net favorable prior year loss development for the three months ended September 30, 2022. For the nine months ended September 30, 2023, the Company experienced $ 3.4 million of net favorable prior year loss development compared to $ 1.5 million of net unfavorable prior year loss development for the nine months ended September 30, 2022. Reinsurance recoverable on unpaid losses includes expected reinsurance recoveries associated with reinsurance contracts the Company has in place. The amount may include recoveries from catastrophe excess of loss reinsurance, net quota share reinsurance, per risk reinsurance, and facultative reinsurance contracts. As further described in Note 17, Commitments and Contingencies, to the condensed consolidated financial statements for the second quarter of 2023, the Company's 2017 reinsurance agreement with the FHCF required a commutation no later than 60 months after the end of the contract year. As part of this process, Heritage and FHCF terminated the 2017 reinsurance agreement and agreed on the amount that the FHCF would pay to the Company to settle all outstanding losses owed under the agreement related to losses from Hurricane Irma. As such, this commutation process resulted in a final determination of and payment for known, unknown or unreported claims relating to Hurricane Irma. Social inflation and the litigated claims environment in the State of Florida, which affected Hurricane Irma claims, could result in adverse development of these claims, which creates uncertainty as to the ultimate cost to settle all of the remaining Hurricane Irma claims. Accordingly, the final amount paid by the FHCF could vary from the Company’s future estimation of losses to be recovered from the FHCF. The commutation process was finalized and binding for both parties upon completion which occurred during the quarter ended September 30, 2023. The final payment by the FHCF was received by the Company in September 2023.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 14. LONG-TERM DEBT Convertible Senior Notes In August 2017 and September 2017, the Company issued in aggregate $ 136.8 million of 5.875 % Convertible Senior Notes (“Convertible Notes”) maturing on August 1, 2037 , unless earlier repurchased, redeemed or converted. Interest is payable semi-annually in arrears, on February 1, and August 1 of each year . In January 2022, the Company reacquired and retired $ 11.7 million of its outstanding Convertible Senior Notes. Payment was made in cash and the Convertible Notes were retired at the time of repurchase. In addition, the Company expensed $ 242,700 which was the proportionate amount of the unamortized issuance and debt discount costs associated with this repurchase. As of September 30, 2023, the Company had approximately $ 885,000 of the Convertible Notes outstanding, net of $ 21.1 million of Convertible Notes held by an insurance company subsidiary. For each of the nine-month periods ended September 30, 2023 and 2022, the Company made interest payments, net of affiliated Convertible Notes, of approximately $ 52,000 and $ 1.0 million, on the outstanding Convertible Notes, respectively. Senior Secured Credit Facility The Company is party to a credit agreement dated as of December 14, 2018 (as amended from time to time, the “Credit Agreement”) with a syndicate of lenders. The Credit Agreement, as amended, provides for (1) a five-year senior secured term loan facility in an aggregate principal amount of $ 100 million (the “Term Loan Facility”) and (2) a five-year senior secured revolving credit facility in an aggregate principal amount of $ 50 million (inclusive of a sublimit for the issuance of letters of credit equal to the unused amount of the revolving credit facility and a sublimit for swingline loans equal to the lesser of $ 25 million and the unused amount of the revolving credit facility) (the “Revolving Credit Facility” and together with the Term Loan Facility, the “Credit Facilities”). Term Loan Facility . The principal amount of the Term Loan Facility amortizes in quarterly installments, which began with the close of the fiscal quarter ending March 31, 2019, in an amount equal to $ 1.9 million per quarter, payable quarterly, decreasing to $ 875,000 per quarter commencing with the quarter ending December 31, 2021, and increasing to $ 2.4 million per quarter commencing with the quarter ending December 31, 2022, with the remaining balance payable at maturity. The Term Loan Facility matures on July 28, 2026 . As of September 30, 2023, there was $ 82.0 million in aggregate principal outstanding under the Term Loan Facility and after giving effect to the additional term loan advance that was used to refinance amounts outstanding under the Revolving Credit Facility and to pay fees, costs and expenses related thereto, there was $ 10 million in aggregate principal outstanding under the Revolving Credit Facility. For the nine months ended September 30, 2023 and 2022, the Company made principal payments of approximately $ 7.1 million and $ 2.6 million and interest payments of $ 5.2 million and $ 1.7 million, respectively, on the Term Loan Facility. Revolving Credit Facility . The Revolving Credit Facility allows for borrowings of up to $ 50 million inclusive of a sublimit for the issuance of letters of credit equal to the unused amount of the Revolving Credit Facility and a sublimit for swingline loans equal to the lesser of $ 25 million and the unused amount of the Revolving Credit Facility. As of December 31, 2022, we had $ 10.0 million in borrowings and $ 32.6 million letters of credit outstanding under the Revolving Credit Facility. In connection with the incurrence of additional amounts under the Term Loan Facility pursuant to a November 2022 amendment to the Credit Agreement, the borrowings under the Revolving Credit Facility were repaid in full. On December 23, 2022, the Company drew $ 10 million from the amended Revolving Credit Facility, resulting in an outstanding principal balance under the Revolving Credit Facility in the amount of $ 10 million. At December 31, 2022, the Company had multiple letters of credit that totaled $ 32.6 million outstanding under the Revolving Credit Facility. At January 31, 2023 , $ 22.6 million of the letters of credit were terminated and at September 30 2023, there were letters of credit issued in aggregate amount of $ 39.3 million under the Revolving Credit Facility . For the nine months ended September 30, 2023, the Company made interest payments in aggregate of approximately $ 543,400 on the Revolving Credit Facility and $ 538,470 relating to letters of credit and unused availability commitment fees. At the Company's option, borrowings under the Credit Facilities bear interest at rates equal to either (1) a rate determined by reference to SOFR, plus an applicable margin and a credit adjustment spread equal to 0.10 % or (2) a base rate determined by reference to the highest of (a) the “prime rate” of Regions Bank, (b) the federal funds rate plus 0.50 %, and (c) the adjusted term SOFR in effect on such day for an interest period of one month plus 1.00 %, plus an applicable margin. At September 30, 2023, the effective interest rate for the Term Loan Facility and Revolving Credit Facility was 8.184 % and 8.170 %, respectively. The Company monitors the rates prior to the reset date which allows it to establish if the payment is monthly or quarterly payment based on the most beneficial rate used to calculate the interest payment. Mortgage Loan In October 2017, the Company and its subsidiary, Skye Lane Properties LLC, jointly obtained a commercial real estate mortgage loan in the amount of $ 12.7 million, bearing interest of 4.95 % per annum and maturing on October 30, 2027 . Pursuant to the terms of the mortgage loan, on October 30, 2022, the interest rate adjusted to an interest rate equal to the annualized interest rate of the United States 5-year Treasury Notes as reported by the Federal Reserve on a weekly average basis plus 3.10 %, which resulted in an increase of the rate from 4.95 % to 7.42 % per annum. The Company makes monthly principal and interest payments against the loan. For each of the nine months ended September 30, 2023 and 2022, the Company made principal and interest payments $ 701,455 of $ 670,000 on the mortgage loan, respectively. FHLB Loan Agreements In December 2018, a subsidiary of the Company received a 3.094 % fixed interest rate cash loan of $ 19.2 million from the Federal Home Loan Bank (“FHLB”) Atlanta. On September 29, 2023, the Company restructured the December 2018 agreement to extend the maturity date to March 28, 2025 , with a 5.109 % fixed interest rate payable quarterly commencing on December 28, 2023. The subsidiary continues to be a member in the FHLB. Membership in the FHLB required an investment in FHLB’s common stock which was purchased in December 2018 and valued at $ 1.4 million. Additionally, the transaction required the acquired FHLB common stock and certain other investments to be pledged as collateral. As of September 30, 2023, the fair value of the collateralized securities was $ 25.3 million and the equity investment in FHLB common stock was $ 1.4 million. For the nine months ended September 30, 2023, and 2022, the Company made quarterly interest payments as per the terms of the loan agreement of approximately $ 478,540 and $ 450,500 , respectively. As of September 30, 2023 and at December 31, 2022, the Company also holds other common stock from FHLB Des Moines and FHLB Boston for a combined value of $ 332,907 , and $ 319,100 , classified as equity securities and reported at fair value on the condensed consolidated financial statements, respectively. The following table summarizes the Company’s long-term debt and credit facilities as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 (In thousands) Convertible debt $ 885 $ 885 Mortgage loan 11,085 11,199 Term loan facility 82,000 89,125 Revolving credit facility 10,000 10,000 FHLB loan agreement 19,200 19,200 Total principal amount $ 123,170 $ 130,409 Deferred finance costs $ 1,105 $ 1,466 Total long-term debt $ 122,066 $ 128,943 As of the date of this report, the Company was in compliance with the applicable terms of all its covenants and other requirements under the Credit Agreement, Convertible Notes, cash borrowings and other loans. The Company’s ability to secure future debt financing depends, in part, on its ability to remain in such compliance. The covenants in the Credit Agreement may limit the Company’s flexibility in connection with future financing transactions and in the allocation of capital in the future, including the Company’s ability to pay dividends and make stock repurchases, and contribute capital to its insurance subsidiaries that are not parties to the Credit Agreement. The schedule of principal payments on long-term debt as of September 30, 2023 is as follows: Year Amount (In thousands) 2023 remaining $ 21,800 2024 9,854 2025 9,874 2026 71,018 2027 414 Thereafter 10,210 Total $ 123,170

Accounts Payable and Other Liab

Accounts Payable and Other Liabilities	9 Months Ended
Accounts Payable and Other Liabilities	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Accounts Payable and Other Liabilities	NOTE 15. ACCOUNTS PAYABLE AND OTHER LIABILITIES Accounts payable and other liabilities consist of the following: Description September 30, 2023 December 31, 2022 (In thousands) Deferred ceding commission $ 36,033 42,758 Claims checks in excess of bank balance 12,820 — Accounts payable and other payables 14,151 17,660 Accrued dividends 61 72 Accrued interest and issuance costs 294 733 Other liabilities 546 229 Premium tax 1,954 1,001 Commission payables 14,879 17,558 Total other liabilities $ 80,739 $ 80,010

Statutory Accounting and Regula

Statutory Accounting and Regulations	9 Months Ended
Statutory Accounting and Regulations	Sep. 30, 2023
Insurance [Abstract]
Statutory Accounting and Regulations	NOTE 16. STATUTORY ACCOUNTING AND REGULATIONS State laws and regulations, as well as national regulatory agency requirements, govern the operations of all insurers such as the Company’s insurance subsidiaries. The various laws and regulations require that insurers maintain minimum amounts of statutory surplus and risk-based capital, restrict insurers’ ability to pay dividends, restrict the allowable investment types and investment mixes, and subject the Company’s insurers to assessments. The Company’s insurance subsidiaries Heritage Property & Casualty Insurance Company (“Heritage P&C)”, Narragansett Bay Insurance Company (“NBIC”), Zephyr Insurance Company (“Zephyr”), and Pawtucket Insurance Company (“PIC”) must maintain capital and surplus ratios or balances as determined by the regulatory authority of the states in which they are domiciled. Heritage P&C is required to maintain capital and surplus equal to the greater of $ 15.0 million or 10 % of its respective liabilities . Zephyr is required to maintain a deposit of $ 750,000 in a federally insured financial institution. NBIC is required to maintain capital and surplus of $ 3.0 million. The combined statutory surplus for Heritage P&C, Zephyr, and NBIC was $ 220.7 million at September 30, 2023 and $ 276.3 million at December 31, 2022. State law also requires the Company’s insurance subsidiaries to adhere to prescribed premium-to-capital surplus ratios, and risk-based capital requirements with which the Company's insurance subsidiaries are in compliance. At September 30, 2023, the Company’s insurance subsidiaries met the financial and regulatory requirements of each of the states in which they conduct business.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 17. COMMITMENTS AND CONTINGENCIES The Company is involved in claims-related legal actions arising in the ordinary course of business. The Company accrues amounts resulting from claims-related legal actions in unpaid losses and loss adjustment expenses during the period that it determines an unfavorable outcome becomes probable and it can estimate the amounts. Management makes revisions to its estimates based on its analysis of subsequent information that the Company receives regarding various factors, including: (i) per claim information; (ii) company and industry historical loss experience; (iii) judicial decisions and legal developments in the awarding of damages; and (iv) trends in general economic conditions, including the effects of inflation.

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 18. RELATED PARTY TRANSACTIONS From time to time the Company has been party to various related party transactions involving certain of its officers, directors and significant stockholders, including as set forth below. The Company has entered into each of these arrangements without obligation to continue its effect in the future and the associated expense was immaterial to its results of operations or financial position as of September 30, 2023 and 2022. • In July 2019, the Board of Directors appointed Mark Berset to the Board of Directors of the Company. Mr. Berset is also the Chief Executive Officer of Comegys Insurance Agency, Inc. (“Comegys”), an independent insurance agency that writes policies for the Company. The Company pays commission to Comegys based upon standard industry rates consistent with those provided to the Company’s other insurance agencies. There are no arrangements or understandings between Mr. Berset and any other persons with respect to his appointment as a director. For the three months ended September 30, 2023 and 2022, the Company paid agency commission to Comegys of approximately $ 61,730 and $ 53,735 , respectively. For the nine months ended September 30, 2023 and 2022, the Company paid agency commission to Comegys of approximately $ 185,400 and $ 549,990 , respectively.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
Employee Benefit Plans	Sep. 30, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	NOTE 19. EMPLOYEE BENEFIT PLANS The Company provides a 401(k) plan for all qualifying employees. The Company provides a matching contribution of 100 % on the first 3% of employees’ contribution and 50 % on the next 2% of the employees’ contribution to the plan. The maximum match is 4 %. For the three months ended September 30, 2023 and 2022, the contributions made to the plan on behalf of the participating employees were approximately $ 294,425 and $ 276,090 , respectively. For the nine months ended September 30, 2023 and 2022, the contributions made to the plan on behalf of the participating employees were approximately $ 1.0 million and $ 1.0 million, respectively. Effective September 1, 2021, the Company enrolled in a flex healthcare plan which allows employees the choice of three medical plans with a range of coverage levels and costs. For the three months ended September 30, 2023 and 2022, the Company incurred medical premium costs including healthcare premiums of $ 924,000 and $ 1.0 million. For the nine months ended September 30, 2023 and 2022, the Company incurred medical premium costs including healthcare premiums of $ 3.9 million and $ 3.4 million.

Equity

Equity	9 Months Ended
Equity	Sep. 30, 2023
Equity [Abstract]
Equity	NOTE 20. EQUITY The total amount of authorized capital stock consists of 50,000,000 shares of common stock and 5,000,000 shares of preferred stock. As of September 30, 2023, the Company had 26,796,586 shares of common stock outstanding, 12,231,674 treasury shares of common stock and 1,821,912 unvested restricted common stock with accrued dividends reflecting additional paid-in capital of $ 336.8 million as of such date. As more fully disclosed in the Company’s audited consolidated financial statements for the year ended December 31, 2022, as of December 31, 2022, there were 25,539,433 shares of common stock outstanding, 12,231,674 treasury shares of common stock and 648,493 unvested shares of restricted common stock with accrued dividends, representing $ 334.7 million of additional paid-in capital. Common Stock Holders of common stock are entitled to one vote for each share held on all matters subject to a vote of stockholders, subject to the rights of holders of any outstanding preferred stock. Accordingly, holders of a majority of the shares of common stock entitled to vote in any election of directors may elect all of the directors standing for election, subject to the rights of holders of any outstanding preferred stock. Holders of common stock will be entitled to receive ratably any dividends that the board of directors may declare out of funds legally available therefor, subject to any preferential dividend rights of outstanding preferred stock. Upon the Company’s liquidation, dissolution or winding up, the holders of common stock will be entitled to receive ratably the Company's net assets available after the payment of all debts and other liabilities and subject to the prior rights of holders of any outstanding preferred stock. Holders of common stock have no preemptive, subscription, redemption or conversion rights. There is no redemption or sinking fund provisions applicable to the common stock. All outstanding shares of the Company’s capital stock are fully paid and non-assessable. Stock Repurchase Program On December 15, 2022, the Board of Directors established a new share repurchase program plan to commence on December 31, 2022 , for the purpose of repurchasing up to an aggregate of $ 10.0 million of common stock, through the open market or in such other manner as will comply with the terms of applicable federal and state securities laws and regulations, including without limitation, Rule 10b-18 under the Securities Act at any time or from time to time on or prior to December 31, 2023 (the "New Share Repurchase Plan"). At September 30, 2023, the Company has the capacity under the New Share Repurchase Plan to repurchase $ 10.0 million of its common stock until December 31, 2023. Dividends The declaration and payment of any future dividends will be subject to the discretion of the Board of Directors and will depend on a variety of factors including the Company’s financial condition and results of operations.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 21. STOCK-BASED COMPENSATION Restricted Stock The Company has adopted the Heritage Insurance Holdings, Inc., 2023 Omnibus Incentive Plan (the “2023 Plan”), which became effective on June 7, 2023. The 2023 Plan authorized 2,125,000 shares of common stock for issuance under the Plan for future grants. Upon effectiveness of the 2023 Plan, no new awards may be granted under the prior Omnibus Incentive Plan, which will continue to govern the terms of awards previously made under such plan. At September 30, 2023, there were in aggregate 887,165 shares available for grant under the 2023 Plan. The Company recognizes compensation expense under ASC 718 for its stock-based payments based on the fair value of the awards. On July 11, 2023, the Company awarded 351,716 time-based restricted stock and 857,843 performance-based restricted stock, with a fair value at the time of grant of $ 4.08 per share under the Company’s 2023 Omnibus Incentive Plan to certain employees. The time-based restricted stock shall vest annually in three equal installments commencing on December 15, 2023. The performance based restricted stock has a three-year performance period beginning on January 1, 2023 and ending on December 31, 2025 and will vest following the end of the performance period but no later than March 30, 2026. The number of shares that will be earned at the end of the performance period is subject to decrease based on the results of the performance condition. In June 2023, the Company awarded to non-employee directors in aggregate 63,744 shares of restricted stock with a fair value at the time of grant of $ 5.02 per share. In August 2023, the awards were amended to reflect the correct grant date fair market value that resulted in an adjustment to the number of shares of restricted stock awarded from 63,744 to 77,296 shares of restricted stock. The restricted stock shall vest on the earlier of (i) the one-year anniversary of the date of issuance and (ii) the day immediately prior to the date of the following year's annual meeting of stockholders, provided the member remains on the Board until such date. In June 2022, the Company awarded to non-employee directors in aggregate 99,376 shares of restricted stock with a fair value at the time of grant of $ 3.22 per share. In August 2022, an award of 12,422 were forfeited due to the departure of a Board member. The awards vested on the next annual meeting of the Company's stockholders that occurred after the award date, provided the member remains on the Board until such date. The Company's annual shareholders meeting was held on June 7, 2023, at which time 86,954 shares of restricted stock were effectively vested. The 2023 Plan authorizes the Company to grant stock options at exercise prices equal to the fair market value of the Company’s stock on the dates the options are granted. The Company has not granted any stock options since 2015 and all unexercised stock options have since been forfeited. Restricted stock activity for the nine months ended September 30, 2023 is as follows: Weighted-Average Grant-Date Fair Number of shares Value per Share Non-vested, at December 31, 2022 648,493 $ 9.32 Granted - Performance-based restricted stock 857,843 4.08 Granted - Time-based restricted stock 429,012 4.09 Vested ( 107,754 ) 2.95 Canceled and surrendered ( 54,702 ) 3.98 Non-vested, at September 30, 2023 1,772,892 $ 6.07 Awards are being amortized to expense over the one to five-year vesting period. For the three months ended September 30, 2023 and 2022 the Company recognized $ 1.3 million and $ 499,000 of compensation expense, respectively. The Company recognized $ 2.1 million and $ 1.5 million of compensation expense for the nine months ended September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023, 107,754 shares of restricted stock previously granted to employees and non-employee directors were vested and released. Of the shares released to employees, 4,200 shares were withheld by the Company to cover withholding taxes of $ 7,560 , and there were also 50,502 shares forfeited upon employment terminations. For the nine months ended September 30, 2022, 51,768 shares of restricted stock were vested and released, all of which had been granted to employees. Of the shares released to employees, 9,849 shares were withheld by the Company to cover withholding taxes of $ 58,000 . At September 30, 2023, there was approximately $ 2.2 million unrecognized expense related to time-based non-vested restricted stock and an additional $ 3.3 million for performance-based restricted stock, net of expected forfeitures which is expected to be recognized over the remaining restriction periods as described in the table below. For the comparable period in 2022, there was in aggregate $ 2.6 million of unrecognized expense. Additional information regarding the Company’s outstanding non-vested time-based restricted stock and performance-based restricted stock at September 30, 2023 is as follows: Grant date Restricted shares unvested Share Value at Grant Date Per Share Remaining Restriction Period (Years) January 4, 2021 111,857 10.43 0.7 April 13, 2021 32,681 10.71 0.7 October 18, 2021 56,363 6.89 0.7 March 3, 2022 12,727 5.50 1.5 March 16, 2022 321,429 6.72 1.5 June 19, 2023 77,296 4.14 0.8 July 11, 2023 1,160,539 4.08 2.9 Total 1,772,892

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 22. SUBSEQUENT EVENTS The Company performed an evaluation of subsequent events through the date the condensed consolidated financial statements were issued and determined there were no recognized or unrecognized subsequent events that would require an adjustment or additional disclosure in the condensed consolidated financial statements as of September 30, 2023.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Heritage Insurance Holdings, Inc. (together with its subsidiaries, the “Company”). These statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain financial information that is normally included in annual consolidated financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. In the opinion of the Company’s management, all material intercompany transactions and balances have been eliminated and all adjustments consisting of normal recurring accruals which are necessary for a fair statement of the financial condition and results of operations for the interim periods have been reflected. The accompanying interim condensed consolidated financial statements and related footnotes should be read in conjunction with the Company’s audited consolidated financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed on March 13, 2023 (the “2022 Form 10-K”)
Significant Accounting Policies	Significant accounting policies The accounting policies of the Company are set forth in Note 1 to the consolidated financial statements contained in the Company’s 2022 Form 10-K.
Accounting Pronouncements	Accounting Pronouncements not yet adopted The Company has documented the summary of its significant accounting policies in its Notes to the Audited Consolidated Financial Statements contained in the Company’s 2022 Form 10-K. There have been no material changes to the Company’s accounting policies since the filing of that report. No other new accounting pronouncements issued, but not yet adopted, have had, or are expected to have, a material impact on the Company’s results of operations or financial position.

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Debt Securities Available-for-Sale	The amortized cost, gross unrealized gains and losses, and fair value of the Company’s debt securities available-for-sale are as follows for the periods presented: September 30, 2023 Cost or Adjusted / Gross Unrealized Gross Unrealized Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 174,962 $ 5 $ 2,377 $ 172,590 States, municipalities and political subdivisions 94,079 — 12,099 81,980 Special revenue 256,159 — 33,054 223,104 Industrial and miscellaneous 191,247 7 17,409 173,845 Total $ 716,447 $ 12 $ 64,939 $ 651,520 (1) Includes securities at September 30, 2023 with a carrying amount of $ 25.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. December 31, 2022 Cost or Adjusted / Gross Unrealized Gross Unrealized Fair Value Debt Securities Available-for-sale (In thousands) U.S. government and agency securities (1) $ 121,811 $ 24 $ 4,093 $ 117,742 States, municipalities and political subdivisions 104,361 — 12,734 91,627 Special revenue 284,946 1 34,817 250,130 Industrial and miscellaneous 194,430 90 18,447 176,073 Total $ 705,548 $ 115 $ 70,091 $ 635,572 (1) Includes securities at December 31, 2022 with a carrying amount of $ 24.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time.
Schedule of Net Realized Losses on Debt Securities Available-for-sale	The following tables present net realized losses on the Company’s debt securities available-for-sale for the three and nine months ended September 30, 2023 and 2022, respectively : 2023 2022 Three Months Ended September 30, Gains Fair Value at Sale Gains Fair Value at Sale (In thousands) Debt Securities Available-for-Sale Total realized gains $ 2 $ 1,498 $ — $ 50 Total realized losses ( 381 ) 40,705 ( 3 ) 110 Net realized losses $ ( 379 ) $ 42,202 $ ( 3 ) $ 160 2023 2022 Nine Months Ended September 30, Gains Fair Value at Sale Gains Fair Value at Sale (In thousands) Debt Securities Available-for-Sale Total realized gains $ 1 $ 1,900 $ 32 $ 2,451 Total realized losses ( 391 ) 41,137 ( 153 ) 6,206 Net realized losses $ ( 390 ) $ 43,037 $ ( 121 ) $ 8,657
Schedule of Reconciliation of Net Realized Losses and Impairments of Investments	The following table presents the reconciliation of net realized losses and impairments of the Company’s investments reported for the three and nine months ended September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Gross realized gains on sales of available-for-sale securities $ 2 $ — $ 1 $ 32 Impairments on other investments — — ( 1,559 ) — Realized losses on sales of available-for-sale securities ( 381 ) ( 3 ) ( 391 ) ( 153 ) Gross realized gains on sale of other investments (1) — — 1,900 — Net realized losses and impairments $ ( 379 ) $ ( 3 ) $ ( 49 ) $ ( 121 ) (1) During the first quarter, the Company sold its investment in an Insurtech company for $ 4.0 million, resulting in a $ 1.9 million realized gain on the investment.
Summary of Debt Securities by Contractual Maturity Periods	The table below summarizes the Company’s debt securities at September 30, 2023 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of those obligations. At September 30, 2023 Cost or Amortized Cost Percent of Total Fair Value Percent of Total Maturity dates: (In thousands) (In thousands) Due in one year or less $ 177,224 24.7 % $ 175,446 26.9 % Due after one year through five years 356,122 49.7 % 325,531 50.0 % Due after five years through ten years 148,815 20.8 % 121,684 18.7 % Due after ten years 34,286 4.8 % 28,859 4.4 % Total $ 716,447 100.0 % $ 651,520 100.0 %
Summary of Net Investment Income	The following table summarizes the Company’s net investment income by major investment category for the three and nine months ended September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Debt securities $ 4,685 $ 2,992 $ 12,723 $ 7,695 Equity securities 79 — 170 — Cash and cash equivalents 1,746 273 6,195 433 Other investments 687 135 1,525 447 Net investment income 7,197 3,400 20,613 8,575 Less: Investment expenses 330 513 1,565 1,525 Net investment income, less investment expenses $ 6,867 $ 2,887 $ 19,048 $ 7,050
Schedule of Debt Securities Available-for-Sale in an Unrealized Loss Position, Aggregate Fair Value	The following tables present, for all debt securities available-for-sale in an unrealized loss position (including securities pledged) and for which no credit loss allowance has been established to date, the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position at September 30, 2023 and December 31, 2022, respectively (in thousands): Less Than Twelve Months Twelve Months or More September 30, 2023 Number of Gross Fair Value Number of Gross Fair Value Debt Securities Available-for-sale U.S. government and agency securities 24 $ 141 $ 67,724 58 $ 2,236 $ 63,678 States, municipalities and political subdivisions 2 32 2,261 109 12,067 77,265 Special revenue 26 184 11,773 427 32,870 208,881 Industrial and miscellaneous 56 523 34,925 211 16,886 133,162 Total fixed maturity securities 108 $ 880 $ 116,683 805 $ 64,059 $ 482,986 Less Than Twelve Months Twelve Months or More December 31, 2022 Number of Gross Fair Value Number of Gross Fair Value Debt Securities Available-for-sale U.S. government and agency securities 61 $ 2,040 $ 56,389 36 $ 2,053 $ 56,389 States, municipalities and political 28 1,967 17,730 95 10,767 68,852 Special revenue 273 5,832 57,881 259 28,985 167,384 Industrial and miscellaneous 95 1,535 32,387 197 16,912 134,462 Total fixed maturity securities 457 $ 11,374 $ 164,386 587 $ 58,717 $ 427,087
Summary of Carrying Value and Maximum Loss Exposure of Company's Non-consolidated VIEs	The following table summarizes the carrying value and maximum loss exposure of the Company’s non-consolidated VIEs at September 30, 2023 and December 31, 2022, respectively (in thousands): As of September 30, 2023 As of December 31, 2022 Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investments in non-consolidated VIEs - Equity method $ 1,821 $ 1,821 $ 3,517 $ 3,517 Investments in non-consolidated VIEs - Amortized cost $ 8,490 $ 8,490 $ 8,490 $ 8,490 Investments in non-consolidated VIEs - Measurement alternative $ 1,434 $ 1,434 $ 4,477 $ 4,477 Total non-consolidated VIEs $ 11,745 $ 11,745 $ 16,484 $ 16,484

Fair Value of Financial Measu_2

Fair Value of Financial Measurements (Tables)	9 Months Ended
Fair Value of Financial Measurements (Tables)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following table presents information about the Company’s assets measured at fair value on a recurring basis. The Company assesses the levels for the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Company’s accounting policy regarding the recognitions of transfers between levels of the fair value hierarchy. The tables below present the balances of the Company’s invested assets measured at fair value on a recurring basis: September 30, 2023 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Invested Assets: (In thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 172,590 $ — $ 172,590 $ — States, municipalities and political subdivisions 81,980 — 81,980 — Special revenue 223,104 — 223,104 — Industrial and miscellaneous 173,845 — 173,845 — Total investments $ 651,520 $ — $ 651,520 $ — December 31, 2022 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Invested Assets: (In thousands) Debt Securities Available-for-sale U.S. government and agency securities $ 117,742 $ — $ 117,742 $ — States, municipalities and political subdivisions 91,627 — 91,627 — Special revenue 250,130 — 250,130 — Industrial and miscellaneous 176,073 — 176,073 — Total investments $ 635,572 $ — $ 635,572 $ —

Other Comprehensive (Loss) In_2

Other Comprehensive (Loss) Income (Tables)	9 Months Ended
Other Comprehensive (Loss) Income (Tables)	Sep. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Summary of Other Comprehensive (loss) income and Tax Impact of Each Component of Other Comprehensive (loss) income	The following tables summarize other comprehensive income (loss) and disclose the tax impact of each component of other comprehensive income (loss) for the three and nine months ended September 30, 2023 and 2022, respectively: For the Three Months Ended September 30, 2023 2022 Pre-tax Tax After-tax Pre-tax Tax After-tax (In thousands) Other comprehensive loss Change in unrealized losses on investments, net $ ( 4,494 ) $ 1,059 $ ( 3,435 ) $ ( 17,471 ) $ 4,090 $ ( 13,381 ) Reclassification adjustment of realized losses included in net loss 379 ( 89 ) 290 3 ( 1 ) 2 Effect on other comprehensive loss $ ( 4,115 ) $ 970 $ ( 3,145 ) $ ( 17,468 ) $ 4,089 $ ( 13,379 ) For the Nine Months Ended September 30, 2023 2022 Pre-tax Tax After-tax Pre-tax Tax After-tax (In thousands) Other comprehensive income (loss) Change in unrealized gains (losses) on investments, net $ 4,664 $ ( 1,097 ) $ 3,567 $ ( 65,403 ) $ 15,310 $ ( 50,093 ) Reclassification adjustment of realized losses included in net income (loss) 390 ( 92 ) 298 121 ( 28 ) 93 Effect on other comprehensive income (loss) $ 5,054 $ ( 1,188 ) $ 3,866 $ ( 65,282 ) $ 15,282 $ ( 50,000 )

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2023
Leases [Abstract]
Components of Lease Costs	Components of the Company’s lease costs were as follows (in thousands): For The Nine Months Ended September 30, 2023 2022 Operating lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations $ 1,183 $ 1,055 Finance lease cost: Amortization of assets, included in General & Administrative expenses on the Consolidated Statements of Operations 1,921 1,943 Interest on lease liabilities, included in Interest expense on the Consolidated Statements of Operations 671 739 Total finance lease cost $ 2,592 $ 2,682 Variable lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations $ 1,175 $ 713 Short-term lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations $ 113 $ 142
Supplemental Balance Sheet Information Related to Operating and Financing Leases	Supplemental balance sheet information related to the Company’s operating and financing leases were as follows (in thousands): Operating Leases September 30, 2023 December 31, 2022 Right of use assets $ 7,166 $ 7,335 Lease liability $ 8,439 $ 8,690 Finance Leases Right of use assets $ 18,214 $ 20,132 Lease liability $ 20,903 $ 22,557
Weighted-Average Remaining Lease Term and Discount Rate for Operating and Financing Leases	Weighted-average remaining lease term and discount rate for the Company’s operating and financing leases for the periods presented below were as follows: Weighted-average remaining lease term September 30, 2023 December 31, 2022 Operating lease 5.80 yrs. 6.49 yrs. Finance lease 7.41 yrs. 8.13 yrs. Weighted-average discount rate Operating lease 4.90 % 5.14 % Finance lease 4.15 % 4.16 %
Maturities of Lease Liabilities by Fiscal Year for Operating and Financing Leases	Maturities of lease liabilities by fiscal year for the Company’s operating and financing leases were as follows (in thousands): Financing Lease Operating Lease 2023 $ 761 $ 427 2024 3,101 1,716 2025 3,166 1,609 2026 3,197 1,587 2027 3,190 1,595 2028 and thereafter 10,920 2,846 Total lease payments 24,335 9,780 Less: imputed interest ( 3,432 ) ( 1,341 ) Present value of lease liabilities $ 20,903 $ 8,439

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
Property and Equipment, Net (Tables)	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following at September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 (In thousands) Land $ 2,582 $ 2,582 Building 9,599 9,599 Software in progress 14,081 6,884 Computer hardware and software 9,962 8,851 Office furniture and equipment 1,484 1,381 Tenant and leasehold improvements 10,519 10,485 Vehicle fleet 594 594 Total, at cost 48,821 40,376 Less: accumulated depreciation and amortization ( 16,403 ) ( 14,647 ) Property and equipment, net $ 32,418 $ 25,729

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
Intangible Assets (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Estimated Amortization of Intangible Assets	Estimated annual pretax amortization of intangible assets for each of the next five years and thereafter is as follows (in thousands): Year Amount 2023 - remaining $ 1,546 2024 $ 6,183 2025 $ 6,183 2026 $ 6,033 2027 $ 5,836 Thereafter $ 17,003 Total $ 42,786

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
Earnings (Loss) Per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share (EPS)	The following table sets forth the computation of basic and diluted earnings (loss) per share (“EPS”) for the periods indicated ( amounts in thousands, except share and per share amounts). Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic and Diluted Net (loss) income available to common shareholders — basic and diluted $ ( 7,424 ) $ ( 48,240 ) $ 14,363 $ ( 166,864 ) Common Shares Basic Weighted average shares outstanding 26,698,806 26,369,265 25,941,422 26,536,700 Diluted Weighted average shares outstanding 26,698,806 26,369,265 25,941,422 26,536,700 Weighted average effects of dilutive securities — convertible notes — — 39,509 — Total 26,698,806 26,369,265 25,980,931 26,536,700 Net (loss) income per common share Basic $ ( 0.28 ) $ ( 1.83 ) $ 0.55 $ ( 6.29 ) Diluted $ ( 0.28 ) $ ( 1.83 ) $ 0.55 $ ( 6.29 ) For the reported periods in the table above with a net loss position the diluted earnings per shares would not be considered for the conversion as the Convertible Notes were antidilutive for the each of the respective periods.

Deferred Reinsurance Ceding C_2

Deferred Reinsurance Ceding Commission (Tables)	9 Months Ended
Deferred Reinsurance Ceding Commission (Tables)	Sep. 30, 2023
Insurance [Abstract]
Schedule of Activity with Regard to Deferred Reinsurance Ceding Commission	The table below depicts the activity regarding deferred reinsurance ceding commission, included in accounts payable and other liabilities during the three and nine months ended September 30, 2023 and 2022 . Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Beginning balance of deferred ceding commission income $ 37,990 $ 38,529 $ 42,758 $ 40,405 Ceding commission deferred 13,957 17,046 42,866 46,110 Less: ceding commission earned ( 15,914 ) ( 15,486 ) ( 49,591 ) ( 46,426 ) Ending balance of deferred ceding commission income $ 36,033 $ 40,089 $ 36,033 $ 40,089

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	9 Months Ended
Deferred Policy Acquisition Costs (Tables)	Sep. 30, 2023
Insurance [Abstract]
Summary of Activity in Deferred Policy Acquisition Costs (DPAC)	The Company anticipates that its DPAC will be fully recoverable in the near term. The table below depicts the activity regarding DPAC for the three and nine months ended September 30, 2023 and 2022. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Beginning Balance $ 106,736 $ 99,468 $ 99,617 $ 93,881 Policy acquisition costs deferred 42,427 39,194 149,536 139,028 Amortization ( 45,064 ) ( 38,013 ) ( 145,054 ) ( 132,260 ) Ending Balance $ 104,098 $ 100,649 $ 104,098 $ 100,649

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Components of Deferred Tax Liability	The table below summarizes the significant components of the Company’s net deferred tax assets: September 30, 2023 December 31, 2022 Deferred tax assets: (In thousands) Unearned premiums $ 19,083 $ 17,060 Unearned ceding commission 8,472 10,053 Net operating loss 1,110 1,189 Tax-related discount on loss reserve 5,783 4,902 Stock-based compensation 827 297 Accrued expenses 1,833 1,016 Leases 672 885 Unrealized losses 15,885 16,987 Dual Consolidated loss limitation 1,437 9,740 Other 363 238 Total deferred tax asset 55,465 62,367 Valuation allowance ( 1,870 ) ( 6,376 ) Adjusted deferred tax asset 53,595 55,991 Deferred tax liabilities: Deferred acquisition costs $ 24,474 $ 23,420 Prepaid expenses 262 180 Property and equipment 630 2,200 Note discount 290 290 Basis in purchased investments 8 28 Basis in purchased intangibles 9,932 11,178 Other 1,907 1,854 Total deferred tax liabilities 37,503 39,150 Net deferred tax assets $ 16,092 $ 16,841
Summary of U.S. Federal Income Tax Rate to Pretax Income	The income tax expense or benefit differs from the amounts computed by applying the U.S. federal income tax rate of as indicated below to pretax income as a result of the following: For the Nine Month Ended September 30, 2023 2022 Expected income tax expense at federal rate 21.0 % 21.0 % Tax exempt interest ( 0.6 ) % 0.1 % Executive compensation 162(m) 0.6 % ( 0.1 ) % Permanent items 18.4 % ( 0.1 ) % State tax expense 8.2 % 1.4 % Change in valuation allowance ( 23.9 ) % ( 6.0 ) % Goodwill impairment 0.0 % ( 9.9 ) % Reported income tax expense 23.7 % 6.3 %

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
Reinsurance (Tables)	Sep. 30, 2023
Insurance [Abstract]
Schedule of Effect of Reinsurance Arrangements in Consolidated Statement of Income	The Company’s reinsurance arrangements had the following effect on certain items in the condensed consolidated statement of income for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Premium written: Direct $ 309,510 $ 304,501 $ 1,016,378 $ 952,981 Ceded ( 54,850 ) ( 60,885 ) ( 561,283 ) ( 536,139 ) Net $ 254,660 $ 243,616 $ 455,095 $ 416,842 Premiums earned: Direct $ 336,976 $ 307,959 $ 984,012 $ 891,539 Ceded ( 160,335 ) ( 148,266 ) ( 464,539 ) ( 420,645 ) Net $ 176,641 $ 159,693 $ 519,473 $ 470,894 Loss and Loss Adjustment Expenses Direct $ 450,524 $ 809,993 $ 757,560 $ 1,147,243 Ceded ( 319,127 ) ( 654,144 ) ( 422,065 ) ( 749,834 ) Net $ 131,397 $ 155,849 $ 335,495 $ 397,409

Reserve for Unpaid Losses (Tabl

Reserve for Unpaid Losses (Tables)	9 Months Ended
Reserve for Unpaid Losses (Tables)	Sep. 30, 2023
Insurance [Abstract]
Summary of Reserve for Unpaid Losses	The table below summarizes the activity related to the Company’s reserve for unpaid losses: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Balance, beginning of period $ 817,859 $ 553,909 $ 1,131,807 $ 590,166 Less: reinsurance recoverable on unpaid losses 442,289 235,239 759,681 301,757 Net balance, beginning of period 375,570 318,670 372,126 288,409 Incurred related to: Current year 130,604 156,855 338,890 395,921 Prior years 793 ( 1,006 ) ( 3,395 ) 1,489 Total incurred 131,397 155,849 335,495 397,410 Paid related to: Current year 76,524 70,914 160,468 170,255 Prior years ( 18,512 ) 24,088 98,198 136,047 Total paid 58,012 95,002 258,666 306,302 Net balance, end of period 448,955 379,517 448,955 379,517 Plus: reinsurance recoverable on unpaid losses 522,366 829,835 522,366 829,835 Balance, end of period $ 971,321 $ 1,209,352 $ 971,321 $ 1,209,352

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Company's Long Term Debt and Credit Facilities	The following table summarizes the Company’s long-term debt and credit facilities as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 (In thousands) Convertible debt $ 885 $ 885 Mortgage loan 11,085 11,199 Term loan facility 82,000 89,125 Revolving credit facility 10,000 10,000 FHLB loan agreement 19,200 19,200 Total principal amount $ 123,170 $ 130,409 Deferred finance costs $ 1,105 $ 1,466 Total long-term debt $ 122,066 $ 128,943
Schedule of Principal Payments on Long-Term Debt	The schedule of principal payments on long-term debt as of September 30, 2023 is as follows: Year Amount (In thousands) 2023 remaining $ 21,800 2024 9,854 2025 9,874 2026 71,018 2027 414 Thereafter 10,210 Total $ 123,170

Accounts Payable and Other Li_2

Accounts Payable and Other Liabilities (Tables)	9 Months Ended
Accounts Payable and Other Liabilities (Tables)	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Accounts Payable and Other Liabilities	Accounts payable and other liabilities consist of the following: Description September 30, 2023 December 31, 2022 (In thousands) Deferred ceding commission $ 36,033 42,758 Claims checks in excess of bank balance 12,820 — Accounts payable and other payables 14,151 17,660 Accrued dividends 61 72 Accrued interest and issuance costs 294 733 Other liabilities 546 229 Premium tax 1,954 1,001 Commission payables 14,879 17,558 Total other liabilities $ 80,739 $ 80,010

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Activity	Restricted stock activity for the nine months ended September 30, 2023 is as follows: Weighted-Average Grant-Date Fair Number of shares Value per Share Non-vested, at December 31, 2022 648,493 $ 9.32 Granted - Performance-based restricted stock 857,843 4.08 Granted - Time-based restricted stock 429,012 4.09 Vested ( 107,754 ) 2.95 Canceled and surrendered ( 54,702 ) 3.98 Non-vested, at September 30, 2023 1,772,892 $ 6.07
Additional Information Regarding Outstanding Non-vested Time-based Restricted Stock and Performance-based Restricted Stock	Additional information regarding the Company’s outstanding non-vested time-based restricted stock and performance-based restricted stock at September 30, 2023 is as follows: Grant date Restricted shares unvested Share Value at Grant Date Per Share Remaining Restriction Period (Years) January 4, 2021 111,857 10.43 0.7 April 13, 2021 32,681 10.71 0.7 October 18, 2021 56,363 6.89 0.7 March 3, 2022 12,727 5.50 1.5 March 16, 2022 321,429 6.72 1.5 June 19, 2023 77,296 4.14 0.8 July 11, 2023 1,160,539 4.08 2.9 Total 1,772,892

Investments - Schedule of Amort

Investments - Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Debt Securities Available-for-Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2023		Dec. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	$ 716,447		$ 705,548
Debt Securities Available-for-sale, Gross Unrealized Gains	12		115
Debt Securities Available-for-sale, Gross Unrealized Losses	64,939		70,091
Debt Securities, Available-for-Sale	651,520		635,572
U.S. government and agency securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	174,962	[1]	121,811	[2]
Debt Securities Available-for-sale, Gross Unrealized Gains	5	[1]	24	[2]
Debt Securities Available-for-sale, Gross Unrealized Losses	2,377	[1]	4,093	[2]
Debt Securities, Available-for-Sale	172,590	[1]	117,742	[2]
States, Municipalities and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	94,079		104,361
Debt Securities Available-for-sale, Gross Unrealized Gains	0		0
Debt Securities Available-for-sale, Gross Unrealized Losses	12,099		12,734
Debt Securities, Available-for-Sale	81,980		91,627
Special Revenue [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	256,159		284,946
Debt Securities Available-for-sale, Gross Unrealized Gains	0		1
Debt Securities Available-for-sale, Gross Unrealized Losses	33,054		34,817
Debt Securities, Available-for-Sale	223,104		250,130
Industrial and Miscellaneous [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	191,247		194,430
Debt Securities Available-for-sale, Gross Unrealized Gains	7		90
Debt Securities Available-for-sale, Gross Unrealized Losses	17,409		18,447
Debt Securities, Available-for-Sale	$ 173,845		$ 176,073

[1] Includes securities at September 30, 2023 with a carrying amount of $ 25.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. Includes securities at December 31, 2022 with a carrying amount of $ 24.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time.

Investments - Schedule of Amo_2

Investments - Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Debt Securities Available-for-Sale (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Carrying amount	$ 25.3	$ 24.3

Investments - Schedule of Net R

Investments - Schedule of Net Realized Losses on Debt Securities Available-for-sale (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Securities Available-for-Sale
Total realized gains	$ 2	$ 0	$ 1	$ 32
Total realized losses	(381)	(3)	(391)	(153)
Net realized losses	(379)	(3)	(390)	(121)
Debt Securities Available-for-sale, Fair Value at Sale
Total realized gains, Fair Value at Sale	1,498	50	1,900	2,451
Total realized losses, Fair Value at Sale	40,705	110	41,137	6,206
Net realized losses, Fair Value at Sale	$ 42,202	$ 160	$ 43,037	$ 8,657

Investments - Schedule of Recon

Investments - Schedule of Reconciliation of Net Realized Losses and Impairments of Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Gross realized gains on sales of available-for-sale securities	$ 2	$ 0	$ 1	$ 32
Impairments on other investments	0		(1,559)
Realized losses on sales of available-for-sale securities	(381)	(3)	(391)	(153)
Gross realized gains on sale of other investments	0		1,900
Net realized losses and impairments	$ (379)	$ (3)	$ (49)	$ (121)

Investments - Schedule of Rec_2

Investments - Schedule of Reconciliation of Net Realized Losses and Impairments of Investments (Paranthetical) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Investments, Debt and Equity Securities [Abstract]
Proceeds from sale of other investments	$ 4
Realized gain on the sale of investment	$ 1.9

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	9 Months Ended
Investments - Additional Information (Detail) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Credit allowance for securities	$ 0	$ 0
Impairment on certain non-consolidated VIEs	$ 1,600,000

Investments - Summary of Debt S

Investments - Summary of Debt Securities by Contractual Maturity Periods (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Maturity date Due in one year or less, Cost or Amortized Cost	$ 177,224
Maturity date Due after one year through five years, Cost or Amortized Cost	356,122
Maturity date Due after five years through ten years, Cost or Amortized Cost	148,815
Maturity date Due after ten years, Cost or Amortized Cost	34,286
Debt Securities Available-for-sale, Cost or Adjusted /Amortized Cost	$ 716,447	$ 705,548
Maturity date Due in one year or less, Percentage of Total	24.70%
Maturity date Due after one year through five years, Percentage of Total	49.70%
Maturity date Due after five years through ten years, Percentage of Total	20.80%
Maturity date Due after ten years, Percentage of Total	4.80%
Maturity date Total, Percentage	100%
Maturity date Due in one year or less, Fair Value	$ 175,446
Maturity date Due after one year through five years, Fair Value	325,531
Maturity date Due after five years through ten years, Fair Value	121,684
Maturity date Due after ten years, Fair Value	28,859
Maturity date Total, Fair Value	$ 651,520	$ 635,572
Maturity date Due in one year or less, Percentage of Total	26.90%
Maturity date Due after one year through five years, Percentage of Total	50%
Maturity date Due after five years through ten years, Percentage of Total	18.70%
Maturity date Due after ten years, Percentage of Total	4.40%
Maturity date Total, Percentage	100%

Investments - Summary of Net In

Investments - Summary of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule of Available-for-sale Securities [Line Items]
Net investment income	$ 7,197	$ 3,400	$ 20,613	$ 8,575
Less: Investment expenses	330	513	1,565	1,525
Net investment income, less investment expenses	6,867	2,887	19,048	7,050
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Net investment income	4,685	2,992	12,723	7,695
Equity Securities[Member]
Schedule of Available-for-sale Securities [Line Items]
Net investment income	79	0	170	0
Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Net investment income	1,746	273	6,195	433
Other Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Net investment income	$ 687	$ 135	$ 1,525	$ 447

Investments - Schedule of Debt

Investments - Schedule of Debt Securities Available-for-Sale in an Unrealized Loss Position, Aggregate Fair Value (Detail) $ in Thousands	Sep. 30, 2023 USD ($) Security	Dec. 31, 2022 USD ($) Security
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities \| Security	108	457
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 880	$ 11,374
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 116,683	$ 164,386
Debt Securities Available-for-sale Twelve Months or More, Number of Securities \| Security	805	587
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 64,059	$ 58,717
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 482,986	$ 427,087
U.S. government and agency securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities \| Security	24	61
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 141	$ 2,040
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 67,724	$ 56,389
Debt Securities Available-for-sale Twelve Months or More, Number of Securities \| Security	58	36
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 2,236	$ 2,053
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 63,678	$ 56,389
States, Municipalities and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities \| Security	2	28
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 32	$ 1,967
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 2,261	$ 17,730
Debt Securities Available-for-sale Twelve Months or More, Number of Securities \| Security	109	95
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 12,067	$ 10,767
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 77,265	$ 68,852
Special Revenue [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities \| Security	26	273
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 184	$ 5,832
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 11,773	$ 57,881
Debt Securities Available-for-sale Twelve Months or More, Number of Securities \| Security	427	259
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 32,870	$ 28,985
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 208,881	$ 167,384
Industrial and Miscellaneous [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities Available-for-sale Less Than Twelve Months, Number of Securities \| Security	56	95
Debt Securities Available-for-sale Less Than Twelve Months, Gross Unrealized Losses	$ 523	$ 1,535
Debt Securities Available-for-sale Less Than Twelve Months, Fair Value	$ 34,925	$ 32,387
Debt Securities Available-for-sale Twelve Months or More, Number of Securities \| Security	211	197
Debt Securities Available-for-sale Twelve Months or More, Gross Unrealized Losses	$ 16,886	$ 16,912
Debt Securities Available-for-sale Twelve Months or More, Fair Value	$ 133,162	$ 134,462

Investments - Summary of Carryi

Investments - Summary of Carrying Value and Maximum Loss Exposure of Company's Non-consolidated VIEs (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Carrying Value	$ 11,745	$ 16,484
Non-Consolidating Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Carrying Value	11,745	16,484
Maximum Loss Exposure	11,745	16,484
Non-Consolidating Variable Interest Entities [Member] \| Investments in Non-consolidated VIEs - Equity Method [Member]
Variable Interest Entity [Line Items]
Carrying Value	1,821	3,517
Maximum Loss Exposure	1,821	3,517
Non-Consolidating Variable Interest Entities [Member] \| Investments in Non-consolidated VIEs - Amortized Cost [Member]
Variable Interest Entity [Line Items]
Carrying Value	8,490	8,490
Maximum Loss Exposure	8,490	8,490
Non-Consolidating Variable Interest Entities [Member] \| Investments in Non-consolidated VIEs - Measurement alternative [Member]
Variable Interest Entity [Line Items]
Carrying Value	1,434	4,477
Maximum Loss Exposure	$ 1,434	$ 4,477

Fair Value of Financial Measu_3

Fair Value of Financial Measurements - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2022	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets transfer between levels				$ 1,000,000
Impairment of certain brand and customer relations, net	$ 766,600
Goodwill impairment		$ 92,000,000	$ 92,000,000
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of certain brand and customer relations, net				$ 766,600

Fair Value of Financial Measu_4

Fair Value of Financial Measurements - Schedule of Fair Value of Measurements (Detail) - USD ($) $ in Thousands	Sep. 30, 2023		Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	$ 651,520		$ 635,572
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	651,520		635,572
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
U.S. government and agency securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	172,590	[1]	117,742	[2]
U.S. government and agency securities [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
U.S. government and agency securities [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	172,590		117,742
U.S. government and agency securities [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
States, Municipalities and Political Subdivisions [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	81,980		91,627
States, Municipalities and Political Subdivisions [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
States, Municipalities and Political Subdivisions [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	81,980		91,627
States, Municipalities and Political Subdivisions [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
Special Revenue [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	223,104		250,130
Special Revenue [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
Special Revenue [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	223,104		250,130
Special Revenue [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
Industrial and Miscellaneous [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	173,845		176,073
Industrial and Miscellaneous [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	0		0
Industrial and Miscellaneous [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	173,845		176,073
Industrial and Miscellaneous [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt securities, available-for-sale	$ 0		$ 0

[1] Includes securities at September 30, 2023 with a carrying amount of $ 25.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time. Includes securities at December 31, 2022 with a carrying amount of $ 24.3 million that were pledged as collateral for the advance agreement entered into with a financial institution in 2018. The Company is permitted to withdraw or exchange any portion of the pledged collateral over the minimum requirement at any time.

Other Comprehensive (Loss) In_3

Other Comprehensive (Loss) Income - Summary of Other Comprehensive (Loss) Income and Tax Impact of Each Component of Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other comprehensive income (loss)
Change in unrealized gains (losses) on investments, net, Pre-tax	$ (4,494)	$ (17,471)	$ 4,664	$ (65,403)
Reclassification adjustment of realized losses included in net income (loss), Pre-tax	379	3	390	121
Effect on other comprehensive income (loss) , Pre-tax	(4,115)	(17,468)	5,054	(65,282)
Change in unrealized gains (losses) on investments, net, Tax	1,059	4,090	(1,097)	15,310
Reclassification adjustment of realized losses included in net income (loss), Tax	(89)	(1)	(92)	(28)
Effect on other comprehensive income (loss), Tax	970	4,089	(1,188)	15,282
Change in unrealized gains (losses) on investments, net, After-tax	(3,435)	(13,381)	3,567	(50,093)
Reclassification adjustment of realized losses included in net income (loss), After-tax	290	2	298	93
Effect on other comprehensive income (loss), After-tax	$ (3,145)	$ (13,379)	$ 3,866	$ (50,000)

Leases - Additional Information

Leases - Additional Information (Detail)	9 Months Ended
Leases - Additional Information (Detail)	Sep. 30, 2023
Lessee Lease Description [Line Items]
Lease renewal, Description	one or more options to renew
Minimum [Member]
Lessee Lease Description [Line Items]
Lease terms	1 year
Renewal terms of lease	2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Lease terms	10 years
Renewal terms of lease	10 years

Leases - Components of Lease Co

Leases - Components of Lease Costs (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Total finance lease cost	$ 2,592	$ 2,682
General and Administrative Expenses [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost (cost resulting from lease payments)	1,183	1,055
Amortization of assets	1,921	1,943
Variable lease cost	1,175	713
Short-Term Lease, Cost	113	142
Interest Expense [Member]
Lessee, Lease, Description [Line Items]
Interest on lease liabilities	$ 671	$ 739

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Operating and Financing Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Right-of-use lease asset, operating	$ 7,166	$ 7,335
Right-of-use lease asset, finance	18,214	20,132
Lease liability, operating	8,439	8,690
Lease liability, finance	$ 20,903	$ 22,557

Leases - Weighted-Average Remai

Leases - Weighted-Average Remaining Lease Term and Discount Rate for Operating and Financing Leases (Detail)	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average lease term - Operating leases	5 years 9 months 18 days	6 years 5 months 26 days
Weighted average lease term - Finance leases	7 years 4 months 28 days	8 years 1 month 17 days
Weighted average discount rate - Operating leases	4.90%	5.14%
Weighted average discount rate - Finance leases	4.15%	4.16%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities by Fiscal Year for Operating and Financing Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Lease
2023	$ 761
2024	3,101
2025	3,166
2026	3,197
2027	3,190
2028 and thereafter	10,920
Total lease payments	24,335
Less: imputed interest	(3,432)
Present value of lease liabilities	20,903	$ 22,557
Operating Lease
2023	427
2024	1,716
2025	1,609
2026	1,587
2027	1,595
2028 and thereafter	2,846
Total lease payments	9,780
Less: imputed interest	(1,341)
Present value of lease liabilities	$ 8,439	$ 8,690

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total, at cost	$ 48,821	$ 40,376
Less: accumulated depreciation and amortization	(16,403)	(14,647)
Property and equipment, net	32,418	25,729
Land [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	2,582	2,582
Building [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	9,599	9,599
Software in progress [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	14,081	6,884
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	9,962	8,851
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	1,484	1,381
Tenant and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	10,519	10,485
Vehicle Fleet [Member]
Property, Plant and Equipment [Line Items]
Total, at cost	$ 594	$ 594

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) Building	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) a ft² Building	Sep. 30, 2022 USD ($)	Jun. 12, 2023 USD ($)
Property Plant And Equipment Useful Life And Values [Abstract]
Investment in software development and implementation	$ 1,100,000		$ 7,100,000
Software claim value					$ 2,000,000
Depreciation and amortization expense	$ 653,000	$ 544,900	$ 1,800,000	$ 1,500,000
Number of acres of land purchased \| a			13
Number of buildings \| Building	2		2
Gross area of acquired property \| ft²			88,378

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Intangibles, net	$ 44,101,000					$ 44,101,000		$ 49,575,000
Indefinite lived intangible, insurance licenses	1,300,000					1,300,000
Impairment of certain brand and customer relations, net		$ 766,600
Goodwill and intangible asset impairment	0		$ 0			766,600	$ 91,959,000
Carrying value of goodwill before impairment				$ 92,000,000	$ 92,000,000
Amortization of intangible assets	1,600,000		$ 1,600,000			4,800,000	$ 4,800,000
Impairment of intangible assets	$ 0					$ 0
Goodwill impairment				$ 92,000,000	$ 92,000,000
Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Useful life of intangible asset	15 years					15 years
Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful life of intangible asset	2 years 6 months					2 years 6 months

Intangible Assets - Schedule of

Intangible Assets - Schedule of Estimated Amortization of Intangible Assets (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 - remaining	$ 1,546
2024	6,183
2025	6,183
2026	6,033
2027	5,836
Thereafter	17,003
Total	$ 42,786

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share (EPS) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic and Diluted
Net (loss) income available to common shareholders - basic and diluted	$ (7,424)	$ (48,240)	$ 14,363	$ (166,864)
Weighted average shares outstanding	26,698,806	26,369,265	25,941,422	26,536,700
Basic	$ (0.28)	$ (1.83)	$ 0.55	$ (6.29)
Diluted
Net (loss) income available to common shareholders - basic and diluted	$ (7,424)	$ (48,240)	$ 14,363	$ (166,864)
Weighted average shares outstanding	26,698,806	26,369,265	25,980,931	26,536,700
Weighted average dilutive shares gross	26,698,806	26,369,265	25,941,422	26,536,700
Weighted average effects of dilutive securities - convertible notes	0	0	39,509	0
Diluted	$ (0.28)	$ (1.83)	$ 0.55	$ (6.29)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Detail) - shares	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Number of antidilutive shares	59,263	196,914

Deferred Reinsurance Ceding C_3

Deferred Reinsurance Ceding Commission - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Policy Acquisition Costs [Member]
Deferred Reinsurance Ceding Commission [Line Items]
Ceding commission income	$ 11.9	$ 11.7	$ 37.3	$ 34.9
General and Administrative Expenses [Member]
Deferred Reinsurance Ceding Commission [Line Items]
Ceding commission income	$ 4	$ 3.8	$ 12.3	$ 11.5

Deferred Reinsurance Ceding C_4

Deferred Reinsurance Ceding Commission - Schedule of Activity with Regard to Deferred Reinsurance Ceding Commission (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Beginning balance of deferred ceding commission income	$ 37,990	$ 38,529	$ 42,758	$ 40,405
Ceding commission deferred	13,957	17,046	42,866	46,110
Less: ceding commission earned	(15,914)	(15,486)	(49,591)	(46,426)
Ending balance of deferred ceding commission income	$ 36,033	$ 40,089	$ 36,033	$ 40,089

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Summary of Activity in Deferred Policy Acquisition Costs (DPAC) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Beginning Balance	$ 106,736	$ 99,468	$ 99,617	$ 93,881
Policy acquisition costs deferred	42,427	39,194	149,536	139,028
Amortization	(45,064)	(38,013)	(145,054)	(132,260)
Ending Balance	$ 104,098	$ 100,649	$ 104,098	$ 100,649

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Detail) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ (4,602,000)	$ (1,095,000)	$ 4,472,000	$ (11,155,000)
Annual effective tax rate	38.30%	2.20%	23.70%	6.30%
Uncertain tax positions	$ 0		$ 0		$ 0
Valuation allowance		$ 10,700,000		$ 10,700,000

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Liability (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deferred tax assets:
Unearned premiums	$ 19,083	$ 17,060
Unearned ceding commission	8,472	10,053
Net operating loss	1,110	1,189
Tax-related discount on loss reserve	5,783	4,902
Stock-based compensation	827	297
Accrued expenses	1,833	1,016
Leases	672	885
Unrealized losses	15,885	16,987
Dual Consolidated loss limitation	1,437	9,740
Other	363	238
Total deferred tax asset	55,465	62,367
Valuation allowance	(1,870)	(6,376)
Adjusted deferred tax asset	53,595	55,991
Deferred tax liabilities:
Deferred acquisition costs	24,474	23,420
Prepaid expenses	262	180
Property and equipment	630	2,200
Note discount	290	290
Basis in purchased investments	8	28
Basis in purchased intangibles	9,932	11,178
Other	1,907	1,854
Total deferred tax liabilities	37,503	39,150
Net deferred tax assets (liabilities)	$ 16,092	$ 16,841

Income Taxes - Summary of U.S.

Income Taxes - Summary of U.S. Federal Income Tax Rate to Pretax Income (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Expected income tax expense at federal rate			21%	21%
Tax exempt interest			(0.60%)	0.10%
Executive compensation 162(m)			0.60%	(0.10%)
Permanent items			18.40%	(0.10%)
State tax expense			8.20%	1.40%
Change in valuation allowance			(23.90%)	(6.00%)
Goodwill impairment			0%	(9.90%)
Reported income tax expense	38.30%	2.20%	23.70%	6.30%

Reinsurance - 2023 - 2024 Reins

Reinsurance - 2023 - 2024 Reinsurance Program - Catastrophe Excess of Loss Reinsurance - Additional information - (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
FHCF [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsured risk percentage	90%
2023 - 2024 Reinsurance Program [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance purchase limit	$ 2,900
First Catastrophe [Member] \| 2023 - 2024 Reinsurance Program [Member] \| NBIC [Member] \| Maximum [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Retention under program to provide reinsurance coverage	1,300
First event retention for insurance company subsidiary	30
First Catastrophe [Member] \| 2023 - 2024 Reinsurance Program [Member] \| Heritage P&C [Member] \| Maximum [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Retention under program to provide reinsurance coverage	1,100
First event retention for insurance company subsidiary	40
First Catastrophe [Member] \| 2023 - 2024 Reinsurance Program [Member] \| Zephyr [Member] \| Maximum [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Retention under program to provide reinsurance coverage	870
First event retention for insurance company subsidiary	40
First Catastrophe [Member] \| 2023 - 2024 Reinsurance Program [Member] \| Osprey And Zephyr [Member] \| Maximum [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
First event retention for insurance company subsidiary	30
First Catastrophe [Member] \| 2023 - 2024 Reinsurance Program [Member] \| Osprey And NBIC [Member] \| Maximum [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
First event retention for insurance company subsidiary	30
Osprey [Member] \| First Catastrophe [Member] \| 2023 - 2024 Reinsurance Program [Member] \| Maximum [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
First event retention for insurance company subsidiary	$ 40

Reinsurance - 2023 -2024 Reinsu

Reinsurance - 2023 -2024 Reinsurance Program - Aggregate Coverage - Additional information - (Detail) $ in Millions		9 Months Ended	12 Months Ended
	Dec. 01, 2022 USD ($)	Sep. 30, 2023 Reinsurer	Dec. 31, 2022 USD ($) Reinsurer
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Number of reinstatements available \| Reinsurer		2
NBIC [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Aggregate contract coverage limit	$ 20
Excess retention amount reinsured	21
Occurrence cap amount	21
Franchise deductible amount	$ 2
Aggregate contract expiration date	Mar. 31, 2023		Dec. 31, 2023
Number of reinstatements available \| Reinsurer			1
NBIC [Member] \| 70% Reinsurance Contract [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Aggregate contract coverage limit			$ 15
Excess retention amount reinsured			25
NBIC [Member] \| 30% Reinsurance Contract [Member]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Aggregate contract coverage limit			20
Excess retention amount reinsured			$ 20

Reinsurance - 2023 - 2024 Rei_2

Reinsurance - 2023 - 2024 Reinsurance Program - Gross Quota and Net Quota Share Reinsurance - Additional information - (Detail) - NBIC [Member] - 2023 -2024 Net Quota Share Reinsurance [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Net lines quota share occurrence limit	$ 20
Percentage of renewed ceded net premium and losses	41%	16%

Reinsurance - 2023 - 2024 Rei_3

Reinsurance - 2023 - 2024 Reinsurance Program - Additional information (Detail)		9 Months Ended	12 Months Ended
	Dec. 01, 2022 USD ($)	Sep. 30, 2023 USD ($) Reinsurer	Jun. 30, 2024 USD ($)	Jun. 14, 2024	Jun. 30, 2023 USD ($)	Jun. 14, 2023	Dec. 31, 2022 USD ($) Reinsurer	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Unpaid losses and loss adjustment expenses		$ 971,321,000			$ 817,859,000		$ 1,131,807,000	$ 1,131,807,000	$ 1,209,352,000	$ 553,909,000	$ 590,166,000
Reinsurance payable		$ 282,663,000					$ 199,803,000
Coverage percentage placed for the contract period				90%		100%
Number of reinstatements available \| Reinsurer		2
Reinsurance excess retention percentage					67.50%
Scenario Forecast [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance excess retention percentage			67.50%
Property Losses [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage					$ 2,750,000
Excess retention amount reinsured					750,000
Property Losses [Member] \| Scenario Forecast [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			$ 2,500,000
Excess retention amount reinsured			1,000,000
Causality Losses [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage					1,250,000
Excess retention amount reinsured					$ 750,000
Causality Losses [Member] \| Scenario Forecast [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Retention under program to provide reinsurance coverage			1,000,000
Excess retention amount reinsured			$ 1,000,000
Facultative Reinsurance [Member] \| Maximum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance payable		$ 10,000,000
Facultative Reinsurance [Member] \| Minimum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Facultative reinsurance purchase amount		10,000,000
NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Number of reinstatements available \| Reinsurer							1
Excess retention amount reinsured	$ 21,000,000
NBIC [Member] \| Facultative Reinsurance [Member] \| Maximum [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Reinsurance payable		$ 3,500,000
Commercial Residential Losses [Member] \| NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Number of reinstatements available \| Reinsurer		2
Insurance Claims [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Unpaid losses and loss adjustment expenses		$ 1,000,000
Insurance Claims [Member] \| Commercial Residential Losses [Member] \| NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Unpaid losses and loss adjustment expenses		750,000
Property Per Risk Coverage [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Coverage limit		9,000,000
Reinsurance payable		27,000,000
Property Per Risk Coverage [Member] \| Commercial Residential Losses [Member] \| NBIC [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Coverage limit		250,000
Reinsurance payable		$ 750,000

Reinsurance - Schedule of Effec

Reinsurance - Schedule of Effect of Reinsurance Arrangements in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Premiums Written
Premiums Written, Direct	$ 309,510	$ 304,501	$ 1,016,378	$ 952,981
Premiums Written, Ceded	(54,850)	(60,885)	(561,283)	(536,139)
Premiums Written, Net	254,660	243,616	455,095	416,842
Premiums Earned
Premiums Earned, Direct	336,976	307,959	984,012	891,539
Premiums Earned, Ceded	(160,335)	(148,266)	(464,539)	(420,645)
Net premiums earned	176,641	159,693	519,473	470,894
Losses and Loss Adjustment Expenses
Losses and Loss Adjustment Expenses, Direct	450,524	809,993	757,560	1,147,243
Losses and Loss Adjustment Expenses, Ceded	(319,127)	(654,144)	(422,065)	(749,834)
Losses and Loss Adjustment Expenses, Net	$ 131,397	$ 155,849	$ 335,495	$ 397,409

Reserve for Unpaid Losses - Sum

Reserve for Unpaid Losses - Summary of Reserve for Unpaid Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Insurance [Abstract]
Balance, beginning of period	$ 817,859	$ 553,909	$ 1,131,807	$ 590,166
Less: reinsurance recoverable on unpaid losses	442,289	235,239	759,681	301,757
Net balance, beginning of period	375,570	318,670	372,126	288,409
Incurred related to:
Current year	130,604	156,855	338,890	395,921
Prior years	793	(1,006)	(3,395)	1,489
Total incurred	131,397	155,849	335,495	397,410
Paid related to:
Current year	76,524	70,914	160,468	170,255
Prior years	(18,512)	24,088	98,198	136,047
Total paid	58,012	95,002	258,666	306,302
Net balance, end of period	448,955	379,517	448,955	379,517
Plus: reinsurance recoverable on unpaid losses	522,366	829,835	522,366	829,835
Balance, end of period	$ 971,321	$ 1,209,352	$ 971,321	$ 1,209,352

Reserve for Unpaid Losses - Add

Reserve for Unpaid Losses - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Insurance [Abstract]
Unpaid losses and loss adjustment expenses	$ 448,955,000	$ 379,517,000	$ 448,955,000	$ 379,517,000	$ 375,570,000	$ 372,126,000	$ 318,670,000	$ 288,409,000
Unpaid losses and loss adjustment expenses attributable to IBNR net of reinsurance recoverable	$ 291,000,000		$ 291,000,000
Net reserves for unpaid losses and loss adjustment expenses, percentage	64.80%		64.80%
Prior year loss related to development incurred	$ 793,000	$ 1,000,000	$ 3,400,000	$ 1,500,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)			1 Months Ended	9 Months Ended		12 Months Ended
Long-Term Debt - Additional Information (Detail) - USD ($)	Sep. 29, 2023	Dec. 23, 2022	Oct. 31, 2017	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Dec. 31, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Long-term debt, net				$ 122,066,000		$ 128,943,000
Payout dividends, aggregate amount				$ 11,000	$ 4,771,000
Interest rate terms				borrowings under the Credit Facilities bear interest at rates equal to either (1) a rate determined by reference to SOFR, plus an applicable margin and a credit adjustment spread equal to 0.10% or (2) a base rate determined by reference to the highest of (a) the “prime rate” of Regions Bank, (b) the federal funds rate plus 0.50%, and (c) the adjusted term SOFR in effect on such day for an interest period of one month plus 1.00%, plus an applicable margin.
Unamortized issuance and debt discount costs								$ 242,700
Federal Home Loan Bank Of Atlanta [Member]
Debt Instrument [Line Items]
Interest rate	5.109%
Notes maturity date	Mar. 28, 2025
Interest paid				$ 478,540,000	450,500,000
Loan or advance maturity date	Mar. 28, 2025
FHLB advance Interest rate									3.094%
Cash loan received under advance from FHLB									$ 19,200,000
Required fair value of reinvestment in FHLB common stock.				1,400,000					$ 1,400,000
Estimated fair value of collateral with FHLB				25,300,000
Federal Home Loan Bank Des Moines [Member]
Debt Instrument [Line Items]
Interest paid				$ 332,907		319,100
Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount										$ 136,800,000
Interest rate										5.875%
Notes maturity date				Aug. 01, 2037
Interest payments term				Interest is payable semi-annually in arrears, on February 1, and August 1 of each year
Long-term debt, net				$ 885,000
Interest paid				$ 52,000,000	1,000,000
Loan or advance maturity date				Aug. 01, 2037
Convertible Senior Notes [Member] \| Subsidiaries Member
Debt Instrument [Line Items]
Repurchase of convertible notes				$ 21,100,000
Convertible Debt [Member] \| Parent company member
Debt Instrument [Line Items]
Repurchase of convertible notes								$ 11,700,000
Senior Secured Credit Facility [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1%
Senior Secured Credit Facility [Member] \| Seventh Amendment [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.10%
Senior Secured Credit Facility [Member] \| Seventh Amendment [Member] \| Federal funds effective swap rate member
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.50%
Senior Secured Credit Facility [Member] \| Term Loan Facility [Member]
Debt Instrument [Line Items]
Interest paid				$ 5,200,000	1,700,000
Term loan, Quarterly principal payments				$ 7,100,000	2,600,000
Effective interest rate				8.184%
Senior Secured Credit Facility [Member] \| Term Loan Facility [Member] \| Seventh Amendment [Member]
Debt Instrument [Line Items]
Aggregate principal amount				$ 82,000,000
Notes maturity date				Jul. 28, 2026
Notes maturity period				5 years
Maximum borrowing capacity				$ 100,000,000
Loan or advance maturity date				Jul. 28, 2026
Senior Secured Credit Facility [Member] \| Term Loan Facility [Member] \| Term Loan Payable Prior to July 29, 2021 [Member] \| Seventh Amendment [Member]
Debt Instrument [Line Items]
Term loan, Quarterly principal payments				$ 1,900,000
Senior Secured Credit Facility [Member] \| Term Loan Facility [Member] \| Term Loan Payable in December 2021 [Member] \| Seventh Amendment [Member]
Debt Instrument [Line Items]
Term loan, Quarterly principal payments				875,000
Senior Secured Credit Facility [Member] \| Term Loan Facility [Member] \| Term Loan Payable After December 2021 [Member] \| Seventh Amendment [Member]
Debt Instrument [Line Items]
Term loan, Quarterly principal payments				$ 2,400,000
Senior Secured Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Notes maturity date				Jan. 31, 2023
Interest paid				$ 543,400,000
Outstanding borrowing capacity amount		$ 10,000,000
Letters of credit outstanding amount				$ 39,300,000		32,600,000	$ 22,600,000
Revolving credit facility, outstanding principal amount		$ 10,000,000
Effective interest rate				8.17%
Loan or advance maturity date				Jan. 31, 2023
Senior Secured Credit Facility [Member] \| Revolving Credit Facility [Member] \| Seventh Amendment [Member]
Debt Instrument [Line Items]
Aggregate principal amount				$ 10,000,000
Notes maturity period				5 years
Maximum borrowing capacity				$ 50,000,000
Outstanding borrowing capacity amount						10,000,000
Letters of credit outstanding amount						$ 32,600,000
Senior Secured Credit Facility [Member] \| Letters of Credit [Member]
Debt Instrument [Line Items]
Interest paid				538,470,000
Senior Secured Credit Facility [Member] \| Swingline Loan [Member] \| Seventh Amendment [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				25,000,000
Collateral Financial Arrangement [Member] \| Skye Lane Properties LLC [Member] \| Mortgage Loan [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 12,700,000
Interest rate			4.95%
Notes maturity date			Oct. 30, 2027
Frequency of periodic principal and interest payments			monthly
Loan or advance maturity date			Oct. 30, 2027
Payment of principal and interest				$ 701,455,000	$ 670,000,000
Collateral Financial Arrangement [Member] \| Skye Lane Properties LLC [Member] \| Mortgage Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Interest rate			7.42%
Collateral Financial Arrangement [Member] \| Skye Lane Properties LLC [Member] \| Mortgage Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Interest rate			4.95%
Collateral Financial Arrangement [Member] \| Skye Lane Properties LLC [Member] \| Mortgage Loan [Member] \| 5-year Treasury Security [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.10%

Long-Term Debt - Schedule of Co

Long-Term Debt - Schedule of Company's Long Term Debt and Credit Facilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal amount	$ 123,170	$ 130,409
Deferred finance costs	1,105	1,466
Total long-term debt	122,066	128,943
Term Loan Facility [Member]
Debt Instrument [Line Items]
Principal amount	82,000	89,125
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal amount	10,000	10,000
Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount	885	885
FHLB Loan Agreement [Member]
Debt Instrument [Line Items]
Principal amount	19,200	19,200
Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal amount	$ 11,085	$ 11,199

Long-Term Debt - Schedule of Pr

Long-Term Debt - Schedule of Principal Payments on Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2023 remaining	$ 21,800
2024	9,854
2025	9,874
2026	71,018
2027	414
Thereafter	10,210
Total	$ 123,170	$ 130,409

Accounts Payable and Other Li_3

Accounts Payable and Other Liabilities - Schedule of Accounts Payable and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Deferred ceding commission	$ 36,033	$ 42,758
Claims checks in excess of bank balance	12,820
Accounts payable and other payables	14,151	17,660
Accrued dividends	61	72
Accrued interest and issuance costs	294	733
Other liabilities	546	229
Premium tax	1,954	1,001
Commission payables	14,879	17,558
Total other liabilities	$ 80,739	$ 80,010

Statutory Accounting and Regu_2

Statutory Accounting and Regulations - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Heritage P&C [Member]
Statutory Accounting Practices [Line Items]
Statutory accounting practices, capital and surplus requirements of insurance subsidiary	greater of $15.0 million or 10% of its respective liabilities
Minimum required amount of capital and surplus maintained by the insurance subsidiary	$ 15,000,000
Statutory capital and surplus requirements, percentage	10%
Zephyr [Member]
Statutory Accounting Practices [Line Items]
Deposits held	$ 750,000
NBIC [Member]
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	3,000,000
Heritage P&C, NBIC, and Zephyr [Member]
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 220,700,000	$ 276,300,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Comegys Insurance Agency, Inc. [Member]
Related Party Transaction [Line Items]
Agency commission	$ 61,730	$ 53,735	$ 185,400	$ 549,990

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Contribution Plan Disclosure [Line Items]
Contribution for participating employees	$ 294,425	$ 276,090	$ 1,000,000	$ 1,000,000
Defined Contribution Plan, Plan Name			401(k)
Medical premium cost	$ 924,000	$ 1,000,000	$ 3,900,000	$ 3,400,000
Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of contribution on employee salary			4%
First 3% of Employees [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of contribution on employee salary			100%
Next 2% of the Employees [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of contribution on employee salary			50%

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Dec. 15, 2021	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Common stock, shares authorized				50,000,000	50,000,000
Preferred stock, shares authorized				5,000,000
Common stock, shares outstanding				26,796,586	25,539,433
Treasury stock, shares				12,231,674	12,231,674
Unvested restricted common stock issued				1,821,912	648,493
Additional paid-in capital				$ 336,829	$ 334,711
Common stock voting rights				one vote
Stock repurchase program, authorized amount				$ 10,000
Stock repurchase program, expiration date	Dec. 31, 2022			Dec. 31, 2023
Treasury shares repurchased, value		$ 1,729	$ 5,000
New Share Repurchase Plan [Member]
Class Of Stock [Line Items]
Stock repurchase program, authorized amount	$ 10,000
Restricted Stock [Member]
Class Of Stock [Line Items]
Unvested restricted common stock issued				1,772,892	648,493

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

Jul. 11, 2023

Jul. 07, 2023

Aug. 31, 2023

Aug. 31, 2022

Sep. 30, 2023

Mar. 31, 2023

Sep. 30, 2022

Mar. 31, 2022

Jun. 30, 2023

Jun. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Jun. 07, 2023

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Forfeited Shares

12,422

Stock-based compensation expense

$ 1,300,000

$ 499,000

$ 2,100,000

$ 1,500,000

Shares withheld to cover withholding taxes

4,200

Shares withheld to cover withholding taxes, value

$ 8,000

$ 89,000

Shares returned from employment terminations forfeitures

$ 50,502,000

Unrecognized expense related to non-vested stock

2,600,000

$ 2,600,000

Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vested, Number of shares

107,754

Restricted stock vested and released

51,768

Shares withheld to cover withholding taxes

9,849

Shares withheld to cover withholding taxes, value

$ 7,560,000

$ 58,000,000

Restricted Stock [Member] | Employee and Non Employee Director [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Restricted stock vested and released

107,754

Restricted Stock [Member] | Minimum [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vesting period

1 year

Restricted Stock [Member] | Maximum [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vesting period

5 years

Performance-Based Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unrecognized expense related to non-vested stock

3,300,000

$ 3,300,000

Time-Based Unvested Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unrecognized expense related to non-vested stock

$ 2,200,000

Omnibus Incentive Plan [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Common stock reserved for issuance

2,125,000

Omnibus Incentive Plan [Member] | Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unvested restricted shares issued

77,296

63,744

99,376

Grant date fair value per share

$ 5.02

$ 3.22

Vested, Number of shares

86,954

Omnibus Incentive Plan [Member] | Time-Based Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unvested restricted shares issued

351,716

Grant date fair value per share

$ 4.08

Omnibus Incentive Plan [Member] | Time-Based Restricted Stock [Member] | Maximum [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vesting period

3 years

Omnibus Incentive Plan [Member] | Performance-Based Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unvested restricted shares issued

857,843

Grant date fair value per share

$ 4.08

2023 Plan [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares available for grant

887,165

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Restricted Stock Activity (Detail)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Number of shares	648,493
Ending balance, Number of shares	1,821,912
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Number of shares	648,493
Vested, Number of shares	(107,754)
Canceled and surrendered, Number of shares	(54,702)
Ending balance, Number of shares	1,772,892
Beginning balance, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	$ 9.32
Vested, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	2.95
Canceled and surrendered, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	3.98
Ending balance, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	$ 6.07
Restricted Stock [Member] \| Performance-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Number of shares	857,843
Granted, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	$ 4.08
Restricted Stock [Member] \| Time-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Number of shares	429,012
Granted, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	$ 4.09

Stock-Based Compensation - Ad_2

Stock-Based Compensation - Additional Information Regarding Outstanding Non-vested Time-based Restricted Stock and Performance-based Restricted Stock (Details) - $ / shares	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested restricted common stock issued	1,821,912	648,493
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested restricted common stock issued	1,772,892	648,493
Restricted Stock [Member] \| January 4, 2021 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date	Jan. 04, 2021
Unvested restricted common stock issued	111,857
Share Value at Grant Date Per Share	$ 10.43
Remaining Restriction Period (Years)	8 months 12 days
Restricted Stock [Member] \| April 13, 2021 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date	Apr. 13, 2021
Unvested restricted common stock issued	32,681
Share Value at Grant Date Per Share	$ 10.71
Remaining Restriction Period (Years)	8 months 12 days
Restricted Stock [Member] \| October 18, 2021 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date	Oct. 18, 2021
Unvested restricted common stock issued	56,363
Share Value at Grant Date Per Share	$ 6.89
Remaining Restriction Period (Years)	8 months 12 days
Restricted Stock [Member] \| March 3, 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date	Mar. 03, 2022
Unvested restricted common stock issued	12,727
Share Value at Grant Date Per Share	$ 5.5
Remaining Restriction Period (Years)	1 year 6 months
Restricted Stock [Member] \| March 16, 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date	Mar. 16, 2022
Unvested restricted common stock issued	321,429
Share Value at Grant Date Per Share	$ 6.72
Remaining Restriction Period (Years)	1 year 6 months
Restricted Stock [Member] \| June 19, 2023 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date	Jun. 19, 2023
Unvested restricted common stock issued	77,296
Share Value at Grant Date Per Share	$ 4.14
Remaining Restriction Period (Years)	9 months 18 days
Restricted Stock [Member] \| July 11, 2023 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date	Jul. 11, 2023
Unvested restricted common stock issued	1,160,539
Share Value at Grant Date Per Share	$ 4.08
Remaining Restriction Period (Years)	2 years 10 months 24 days