0001437749-24-014682 | 10-Q | XBRL Viewer

Income Tax Disclosure [Text Block]

8. Income Taxes

The Company calculates its tax provision in interim periods using its best estimate of the effective tax rate expected for the full year. During the three months ended March 31, 2024, the Company’s income tax rate of 23.2% was higher than the statutory rate of 21% due primarily to non-deductible executive compensation expense. During the three months ended March 31, 2023, the Company’s income tax rate of 23.5% was higher than the statutory rate of 21% also due primarily to non-deductible executive compensation expense.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

Note 5 - Stockholders' Equity - Common Stock Reserved for Future Issuance (Details) - shares	Mar. 31, 2024	Dec. 31, 2023	Apr. 16, 2019
Options, Outstanding, Number (in shares)	749,239	807,685
Total (in shares)	6,623,968
Restricted Stock Units (RSUs) [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	358,002	333,716
Performance Shares [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	461,037	423,621
Equity Incentive Plan 2019 [Member]
Options, Outstanding, Number (in shares)	749,239
Number of Shares Authorized (in shares)	3,694,726		2,400,000
Equity Incentive Plan 2019 [Member] \| Restricted Stock Units (RSUs) [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	358,002
Equity Incentive Plan 2019 [Member] \| Performance Shares [Member]
Equity Instruments Other than Options, Nonvested, Number (in shares)	461,037
Employee Stock Purchase Plan 2019 [Member]
Number of Shares Authorized (in shares)	1,360,964

Note 3 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

March 31, 2024	*Level 1*		*Level 2*		*Level 3*		*Total*
	(in thousands)
Assets:
Fixed maturity securities
U.S. Governments	$	—	$	38,342	$	—	$	38,342
U.S. States, Territories, and Political Subdivisions		—		9,884		—		9,884
Special revenue excluding mortgage/asset-backed securities		—		29,105		—		29,105
Corporate and other		—		319,755		—		319,755
Mortgage/asset-backed securities		—		265,906		—		265,906
Equity securities		37,171		—		—		37,171
Cash, cash equivalents, and restricted cash		61,764		—		—		61,764
Total assets	$	98,935	$	662,992	$	—	$	761,927

December 31, 2023	*Level 1*		*Level 2*		*Level 3*		*Total*
	(in thousands)
Assets:
Fixed maturity securities
U.S. Governments	$	—	$	39,420	$	—	$	39,420
U.S. States, Territories, and Political Subdivisions		—		9,902		—		9,902
Special revenue excluding mortgage/asset-backed securities		—		29,511		—		29,511
Corporate and other		—		300,239		—		300,239
Mortgage/asset-backed securities		—		264,727		—		264,727
Equity securities		43,160		—		—		43,160
Cash, cash equivalents, and restricted cash		51,852		—		—		51,852
Total assets	$	95,012	$	643,799	$	—	$	738,811

Note 2 - Investments - The Amortized Cost and Fair Value of Fixed Maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Due within one year, Amortized Cost	$ 66,569
Due within one year, Fair Value	64,574
Due after one year through five years, Amortized Cost	176,356
Due after one year through five years, Fair Value	168,722
Due after five years through ten years, Amortized Cost	134,209
Due after five years through ten years, Fair Value	123,931
Due after ten years, Amortized Cost	43,330
Due after ten years, Fair Value	39,859
Mortgage and asset-backed securities, Amortized Cost	277,041
Mortgage and asset-backed securities, Fair Value	265,906
Amortized Cost	697,505	$ 675,130
Total, Fair Value	$ 662,992	$ 643,799

Note 5 - Stockholders' Equity - Summary of PSU Transactions (Details) - Performance Shares [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Outstanding, shares (in shares) \| shares	423,621
Outstanding, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 38.9
Granted, shares (in shares) \| shares	55,005
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 65.22
Released, shares (in shares) \| shares	(12,645)
Released, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 96.74
Forfeited, shares (in shares) \| shares	(4,944)
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 50.19
Non-vested, shares (in shares) \| shares	461,037
Non-vested outstanding, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 40.33

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Available-for-Sale, Amortized Cost	$ 697,505	$ 675,130
Equity Securities, Cost	$ 32,785	$ 43,003
Preferred Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	500,000,000	500,000,000
Common Stock, Shares, Issued (in shares)	24,921,060	24,772,987
Common Stock, Shares, Outstanding (in shares)	24,921,060	24,772,987

Note 9 - Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*Three Months Ended March 31,*
	*2024*		*2023*
	(in thousands, except shares and per share data)
Net income	$	26,382	$	17,313
Weighted average common shares outstanding:
Basic		24,862,367		24,969,703
Common Share equivalents		606,197		473,198
Diluted		25,468,564		25,442,902

Earnings per share:
Basic	$	1.06	$	0.69
Diluted	$	1.04	$	0.68

Note 6 - Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2024

Comprehensive Income (Loss) Note [Text Block]

6. Accumulated Other Comprehensive Income

Changes in accumulated other comprehensive income (loss) (“AOCI”) are as follows:

	*Three Months Ended March 31,*
	*2024*			*2023*
	(in thousands)
Beginning Balance	$	(23,991	)	$	(36,515	)

Other comprehensive (loss) income before reclassification		(3,185	)		6,956
Federal income tax expense (benefit)		669			(1,460	)
Other comprehensive (loss) income before reclassification, net of tax		(2,516	)		5,496

Amounts reclassified from AOCI		2			(28	)
Federal income tax expense		—			6
Amounts reclassified from AOCI, net of tax		2			(22	)

Other comprehensive (loss) income		(2,514	)		5,474
Balance at end of period	$	(26,505	)	$	(31,041	)

Note 5 - Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Capital Reserved for Future Issuance [Table Text Block]

Stock options outstanding under 2019 Equity Incentive Plan			749,239
Restricted stock units outstanding under 2019 Equity Incentive Plan			358,002
Performance stock units outstanding under 2019 Equity Incentive Plan, at target			461,037
Shares authorized for future issuance under 2019 Equity Incentive Plan			3,694,726
Shares authorized for future issuance under 2019 Employee Stock Purchase Plan			1,360,964
Total			6,623,968

Share-Based Payment Arrangement, Cost by Plan [Table Text Block]

	*Three Months Ended March 31,*
	*2024*		*2023*
	(in thousands)
Stock-Based Compensation	$	3,820	$	3,450

Share-Based Payment Arrangement, Activity [Table Text Block]

	*Number of shares*			*Weighted-average exercise price*		*Weighted-average remaining contractual term (in years)*		*Aggregate intrinsic value (in thousands)*
Outstanding at January 1, 2024		807,685		$	34.31		—	$	—
Options granted		—			—
Options exercised		(52,722	)		35.22
Options canceled		(5,724	)		67.05
Outstanding at March 31, 2024		749,239		$	33.99		5.7	$	38,564
Vested and Exercisable at March 31, 2024		709,725		$	32.56		5.6	$	37,551

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	*Number of shares*			*Weighted-average grant date fair value*
Outstanding at January 1, 2024		333,716		$	61.01
Granted		105,370			62.60
Released		(72,900	)		56.05
Forfeited		(8,184	)		52.15
Non-vested outstanding at March 31, 2024		358,002		$	62.69

Schedule of Nonvested Performance-Based Units Activity [Table Text Block]

	*Number of shares*			*Weighted-average grant date fair value*
Outstanding at January 1, 2024		423,621		$	38.90
Granted		55,005			65.22
Vested		(12,645	)		96.74
Forfeited		(4,944	)		50.19
Non-vested outstanding at March 31, 2024		461,037		$	40.33

Note 2 - Investments - Net Realized and Unrealized Investment Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Gains on sales of fixed maturity securities	$ 0	$ 28
Total realized gains	0	28
Losses on sales of fixed maturity securities	(2)	(3)
Losses on sales of equity securities	(1,204)	0
Total realized losses	(1,206)	(3)
Net realized investment (losses) gains	(1,206)	25
Change in allowance for credit losses	0	(659)
Net unrealized gains (losses) on equity securities	4,229	780
Net unrealized (losses) gains on equity method investment	(21)	0
Net realized and unrealized gains on investments	$ 3,002	$ 146

Note 4 - Reserve for Losses and Loss Adjustment Expenses

3 Months Ended

Mar. 31, 2024

Reserve for Losses and Loss Adjustment Expenses [Text Block]

4. Reserve for Losses and Loss Adjustment Expenses

The following table represents a reconciliation of changes in the ending reserve balances for losses and loss adjustment expenses (“LAE”):

	*Three Months Ended March 31,*
	*2024*		*2023*
	(in thousands)
Reserve for losses and LAE net of reinsurance recoverables at beginning of period	$	97,653	$	77,520
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year		26,333		17,300
Prior years		504		3,352
Total incurred		26,837		20,652
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year		4,895		1,393
Prior years		9,432		15,413
Total payments		14,327		16,806
Reserve for losses and LAE net of reinsurance recoverables at end of period		110,163		81,366
Add: Reinsurance recoverables on unpaid losses and LAE at end of period		292,024		183,601
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period	$	402,187	$	264,967

Considerable variability is inherent in the estimate of the reserve for losses and LAE. Although management believes the liability recorded for losses and LAE is adequate, the variability inherent in this estimate could result in changes to the ultimate liability, which may be material to stockholders’ equity.

The Company experienced adverse prior year development of $0.5 million and $3.4 prior year development during the three months ended March 31, 2024 and 2023, respectively.

Adverse prior year development during the three months ended March 31, 2024 was primarily due to higher than anticipated severity of attritional losses on certain discontinued lines of business. Adverse prior year development during the three months ended March 31, 2023 was primarily due to higher than anticipated severity of attritional losses, offset by lower than anticipated severity of catastrophe losses.

Note 1 - Summary of Operations and Basis of Presentation

3 Months Ended

Mar. 31, 2024

Basis of Presentation and Significant Accounting Policies [Text Block]

1. Summary of Operations and Basis of Presentation

Summary of Operations

Palomar Holdings, Inc. (the “Company”) is a Delaware incorporated insurance holding company that was founded in 2014. The Company has several wholly owned subsidiaries including an Oregon domiciled insurance company, Palomar Specialty Insurance Company (“PSIC”), a Bermuda based reinsurance company, Palomar Specialty Reinsurance Company Bermuda Ltd. (“PSRE”), an Arizona domiciled surplus lines insurance company, Palomar Excess and Surplus Insurance Company (“PESIC”), a California domiciled property and casualty insurance agency, Palomar Insurance Agency, DBA Palomar General Insurance Agency (“PGIA”), and a Delaware incorporated management company, Palomar Underwriters Exchange Organization, Inc. ("PUEO"), that provides services to Laulima Exchange (“Laulima”), a Hawaii domiciled reciprocal exchange, as its attorney-in-fact.

Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and include the accounts of the Company and its wholly‑owned subsidiaries. The condensed consolidated financial statements also include the accounts of Laulima, as Laulima is a variable interest entity ("VIE") for which the Company is the primary beneficiary. Within footnote 7, certain prior year amounts have been reclassified to conform to the current year presentation.

These condensed consolidated financial statements do not contain all information and footnotes required by U.S. GAAP for complete consolidated financial statements. For a more complete description of the Company’s business and accounting policies, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 23, 2024 (the “2023 Annual Report on Form 10-K”). In the opinion of management, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included. Such adjustments consist only of normal recurring items. All intercompany balances and transactions have been eliminated in consolidation. Interim results are not necessarily indicative of results of operations for the full year.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed herein. All revisions to accounting estimates are recognized in the period in which the estimates are revised. Significant estimates reflected in the Company’s condensed consolidated financial statements include, but are not limited to, reserves for losses and loss adjustment expenses, reinsurance recoverables on unpaid losses, and the fair values of investments.

Recent Accounting Pronouncements

Recently adopted accounting pronouncements

The Company has not adopted any new accounting guidance during the three months ended March 31, 2024.

Recently issued accounting pronouncements not yet adopted

Segment Reporting

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss to assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity's segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker ("CODM"), clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures, providing new disclosure requirements for entities with a single reportable segment, and requiring other new disclosures. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

Income Taxes

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires public business entities to disclose additional information with respect to the reconciliation of the effective tax rate to the statutory rate. Additionally, public business entities will need to disaggregate federal, state and foreign taxes paid in their financial statements. ASU 2023-09 is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2024. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

Note 3 - Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale	$ 662,992	$ 643,799
Equity securities	37,171	43,160
US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale	38,342	39,420
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale	9,884	9,902
Special Revenue Excluding Asset Backed Securities [Member]
Debt Securities, Available-for-sale	29,105	29,511
Corporate Debt Securities and Other Debt Obligations [Member]
Debt Securities, Available-for-sale	319,755	300,239
Asset-Backed Securities [Member]
Debt Securities, Available-for-sale	265,906	264,727
Fair Value, Recurring [Member]
Equity securities	37,171	43,160
Cash, cash equivalents, and restricted cash	61,764	51,852
Total assets	761,927	738,811
Fair Value, Recurring [Member] \| US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale	38,342	39,420
Fair Value, Recurring [Member] \| US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale	9,884	9,902
Fair Value, Recurring [Member] \| Special Revenue Excluding Asset Backed Securities [Member]
Debt Securities, Available-for-sale	29,105	29,511
Fair Value, Recurring [Member] \| Corporate Debt Securities and Other Debt Obligations [Member]
Debt Securities, Available-for-sale	319,755	300,239
Fair Value, Recurring [Member] \| Asset-Backed Securities [Member]
Debt Securities, Available-for-sale	265,906	264,727
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Equity securities	37,171	43,160
Cash, cash equivalents, and restricted cash	61,764	51,852
Total assets	98,935	95,012
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Special Revenue Excluding Asset Backed Securities [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Corporate Debt Securities and Other Debt Obligations [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Asset-Backed Securities [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Equity securities	0	0
Cash, cash equivalents, and restricted cash	0	0
Total assets	662,992	643,799
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale	38,342	39,420
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale	9,884	9,902
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Special Revenue Excluding Asset Backed Securities [Member]
Debt Securities, Available-for-sale	29,105	29,511
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Corporate Debt Securities and Other Debt Obligations [Member]
Debt Securities, Available-for-sale	319,755	300,239
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Asset-Backed Securities [Member]
Debt Securities, Available-for-sale	265,906	264,727
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Equity securities	0	0
Cash, cash equivalents, and restricted cash	0	0
Total assets	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Special Revenue Excluding Asset Backed Securities [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Corporate Debt Securities and Other Debt Obligations [Member]
Debt Securities, Available-for-sale	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Asset-Backed Securities [Member]
Debt Securities, Available-for-sale	$ 0	$ 0

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost: $697,505 in 2024; $675,130 in 2023)	$ 662,992	$ 643,799
Equity securities, at fair value (cost: $32,785 in 2024; $43,003 in 2023)	37,171	43,160
Equity method investment	2,597	2,617
Other investments	1,871	0
Total investments	704,631	689,576
Cash and cash equivalents	61,387	51,546
Restricted cash	377	306
Accrued investment income	5,192	5,282
Premiums receivable	322,723	261,972
Deferred policy acquisition costs, net of ceding commissions and fronting fees	66,508	60,990
Reinsurance recoverable on paid losses and loss adjustment expenses	28,542	32,172
Reinsurance recoverable on unpaid losses and loss adjustment expenses	292,024	244,622
Ceded unearned premiums	298,975	265,808
Prepaid expenses and other assets	82,679	72,941
Deferred tax assets, net	9,408	10,119
Property and equipment, net	312	373
Goodwill and intangible assets, net	11,926	12,315
Total assets	1,884,684	1,708,022
Liabilities:
Accounts payable and other accrued liabilities	39,637	42,376
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period	402,187	342,275
Unearned premiums	662,307	597,103
Ceded premium payable	215,329	181,742
Funds held under reinsurance treaty	13,716	13,419
Income taxes payable	6,850	7,255
Borrowings from credit agreements	43,000	52,600
Total liabilities	1,383,026	1,236,770
Stockholders' equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023	0	0
Common stock, $0.0001 par value, 500,000,000 shares authorized, 24,921,060 and 24,772,987 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	3	3
Additional paid-in capital	357,135	350,597
Accumulated other comprehensive loss	(26,505)	(23,991)
Retained earnings	171,025	144,643
Total stockholders' equity	501,658	471,252
Total liabilities and stockholders' equity	$ 1,884,684	$ 1,708,022

Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Revenues:

Change in unearned premiums

^[1]

$ 368,078

$ 250,112

Ceded written premiums

(228,171)

(170,344)

Net written premiums

139,907

79,768

(32,041)

3,473

Net earned premiums

107,866

83,241

Net investment income

7,139

5,120

Net realized and unrealized gains on investments

3,002

146

Commission and other income

528

695

Total revenues

118,535

89,202

Expenses:

Losses and loss adjustment expenses

26,837

20,652

Acquisition expenses, net of ceding commissions and fronting fees

31,798

25,679

Other underwriting expenses

24,804

19,222

Interest expense

740

1,020

Total expenses

84,179

66,573

Income before income taxes

34,356

22,629

Income tax expense

7,974

5,316

Net income

26,382

17,313

Other comprehensive income, net:

Net unrealized (losses) gains on securities available for sale

(2,514)

5,474

Net comprehensive income

$ 23,868

$ 22,787

Per Share Data:

Basic earnings per share (in dollars per share)

$ 1.06

$ 0.69

Diluted earnings per share (in dollars per share)

$ 1.04

$ 0.68

Weighted-average common shares outstanding:

Basic (in shares)

24,862,367

24,969,703

Diluted (in shares)

25,468,564

25,442,902

[1]

Beginning in 2024, the Company has updated the categorization of its products to align with management's current strategy and view of the business. Prior year amounts have been reclassified for comparability purposes. The recategorization is for presentation purposes only and does not impact overall gross written premiums.

Note 2 - Investments (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]

			*Gross*		*Gross*			*Allowance*
	*Amortized*		*Unrealized*		*Unrealized*			*for*			*Fair*
March 31, 2024	*Cost or Cost*		*Gains*		*Losses*			*Credit Losses*			*Value*
	(in thousands)
Fixed maturities:
U.S. Governments	$	39,729	$	—	$	(1,387	)	$	—		$	38,342
U.S. States, Territories, and Political Subdivisions		10,632		71		(819	)		—			9,884
Special revenue excluding mortgage/asset-backed securities		32,424		96		(3,415	)		—			29,105
Corporate and other		337,679		1,260		(18,280	)		(904	)		319,755
Mortgage/asset-backed securities		277,041		1,570		(12,705	)		—			265,906
Total available-for-sale investments	$	697,505	$	2,997	$	(36,606	)	$	(904	)	$	662,992

			*Gross*		*Gross*			*Allowance*
	*Amortized*		*Unrealized*		*Unrealized*			*for*			*Fair*
December 31, 2023	*Cost or Cost*		*Gains*		*Losses*			*Credit Losses*			*Value*
	(in thousands)
Fixed maturities:
U.S. Governments	$	40,836	$	—	$	(1,416	)	$	—		$	39,420
U.S. States, Territories, and Political Subdivisions		10,641		100		(839	)		—			9,902
Special revenue excluding mortgage/asset-backed securities		32,513		147		(3,149	)		—			29,511
Corporate and other		316,590		1,750		(17,197	)		(904	)		300,239
Mortgage/asset-backed securities		274,550		1,879		(11,702	)		—			264,727
Total available-for-sale investments	$	675,130	$	3,876	$	(34,303	)	$	(904	)	$	643,799

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]

	*Less Than 12 Months*					*More Than 12 Months*					*Total*
	*Fair*		*Unrealized*			*Fair*		*Unrealized*			*Fair*		*Unrealized*
March 31, 2024	*Value*		*Losses*			*Value*		*Losses*			*Value*		*Losses*
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	17,385	$	(385	)	$	20,957	$	(1,002	)	$	38,342	$	(1,387	)
U.S. States, Territories, and Political Subdivisions		512		(5	)		6,217		(814	)		6,729		(819	)
Special revenue excluding mortgage/asset-backed securities		—		—			26,380		(3,415	)		26,380		(3,415	)
Corporate and other		41,802		(402	)		212,756		(17,878	)		254,558		(18,280	)
Mortgage/asset-backed securities		44,727		(859	)		107,914		(11,846	)		152,641		(12,705	)
Total available-for-sale investments	$	104,426	$	(1,651	)	$	374,224	$	(34,955	)	$	478,650	$	(36,606	)

	*Less Than 12 Months*					*More Than 12 Months*					*Total*
	*Fair*		*Unrealized*			*Fair*		*Unrealized*			*Fair*		*Unrealized*
December 31, 2023	*Value*		*Losses*			*Value*		*Losses*			*Value*		*Losses*
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	738	$	(1	)	$	38,063	$	(1,415	)	$	38,801	$	(1,416	)
U.S. States, Territories, and Political Subdivisions		—		—			6,196		(839	)		6,196		(839	)
Special revenue excluding mortgage/asset-backed securities		—		—			26,736		(3,149	)		26,736		(3,149	)
Corporate and other		28,872		(480	)		204,034		(16,717	)		232,906		(17,197	)
Mortgage/asset-backed securities		29,334		(245	)		117,016		(11,457	)		146,350		(11,702	)
Total available-for-sale investments	$	58,944	$	(726	)	$	392,045	$	(33,577	)	$	450,989	$	(34,303	)

Investments Classified by Contractual Maturity Date [Table Text Block]

	*Amortized*		*Fair*
	*Cost*		*Value*
	(in thousands)
Due within one year	$	66,569	$	64,574
Due after one year through five years		176,356		168,722
Due after five years through ten years		134,209		123,931
Due after ten years		43,330		39,859
Mortgage and asset-backed securities		277,041		265,906
	$	697,505	$	662,992

Investment Income [Table Text Block]

	*Three Months Ended*
	*March 31,*
	*2024*			*2023*
	(in thousands)
Interest income	$	7,326		$	5,060
Dividend income		197			181
Investment expense		(384	)		(121	)
Net investment income	$	7,139		$	5,120

Gain (Loss) on Securities [Table Text Block]

	*Three Months Ended*
	*March 31,*
	*2024*			*2023*
	(in thousands)
Realized gains:
Gains on sales of fixed maturity securities	$	—		$	28
Total realized gains		—			28
Realized losses:
Losses on sales of fixed maturity securities		(2	)		(3	)
Losses on sales of equity securities		(1,204	)		—
Total realized losses		(1,206	)		(3	)
Net realized investment (losses) gains		(1,206	)		25
Change in allowance for credit losses		—			(659	)
Net unrealized gains (losses) on equity securities		4,229			780
Net unrealized (losses) gains on equity method investment		(21	)		—
Net realized and unrealized gains on investments	$	3,002		$	146

Note 3 - Fair Value Measurements

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Text Block]

3. Fair Value Measurements

Fair value is defined as the price that the Company would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment.

The three‑tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1—Unadjusted quoted prices are available in active markets for identical investments as of the reporting date.

Level 2—Pricing inputs are quoted prices for similar investments in active markets; quoted prices for identical or similar investments in inactive markets; or valuations based on models where the significant inputs are observable or can be corroborated by observable market data.

Level 3—Pricing inputs into models are unobservable for the investment. The unobservable inputs require significant management judgment or estimation.

To measure fair value, the Company obtains quoted market prices for its investment securities from its outside investment managers. If a quoted market price is not available, the Company uses prices of similar securities. The fair values obtained from the outside investment managers are reviewed for reasonableness and any discrepancies are investigated for final valuation.

The fair value of the Company’s investments in fixed maturity securities is estimated using relevant inputs, including available market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. An Option Adjusted Spread model is also used to develop prepayment and interest rate scenarios. Industry standard models are used to analyze and value securities with embedded options or prepayment sensitivities. These fair value measurements are estimated based on observable, objectively verifiable market information rather than market quotes. Therefore, these investments are classified and disclosed in Level 2 of the hierarchy.

The following tables present the hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023.

March 31, 2024	*Level 1*		*Level 2*		*Level 3*		*Total*
	(in thousands)
Assets:
Fixed maturity securities
U.S. Governments	$	—	$	38,342	$	—	$	38,342
U.S. States, Territories, and Political Subdivisions		—		9,884		—		9,884
Special revenue excluding mortgage/asset-backed securities		—		29,105		—		29,105
Corporate and other		—		319,755		—		319,755
Mortgage/asset-backed securities		—		265,906		—		265,906
Equity securities		37,171		—		—		37,171
Cash, cash equivalents, and restricted cash		61,764		—		—		61,764
Total assets	$	98,935	$	662,992	$	—	$	761,927

December 31, 2023	*Level 1*		*Level 2*		*Level 3*		*Total*
	(in thousands)
Assets:
Fixed maturity securities
U.S. Governments	$	—	$	39,420	$	—	$	39,420
U.S. States, Territories, and Political Subdivisions		—		9,902		—		9,902
Special revenue excluding mortgage/asset-backed securities		—		29,511		—		29,511
Corporate and other		—		300,239		—		300,239
Mortgage/asset-backed securities		—		264,727		—		264,727
Equity securities		43,160		—		—		43,160
Cash, cash equivalents, and restricted cash		51,852		—		—		51,852
Total assets	$	95,012	$	643,799	$	—	$	738,811

The carrying amounts of financial assets and liabilities reported in the accompanying condensed consolidated balance sheet including cash and cash equivalents, restricted cash, receivables, reinsurance recoverable, and accounts payable and other accrued liabilities approximate fair value due to their short term‑maturity. The carrying amount of the Company’s borrowings under the Federal Home Loan Bank (“FHLB”) line of credit and U.S. Bank credit agreement (the “Credit Agreement”) approximate fair value as the Company is currently borrowing at a variable rate which frequently reprices at market rates.

Transfers between Level 3 and Level 2 securities result from changes in the availability of observable market inputs and are recorded at the beginning of the reporting period. As of March 31, 2024 and December 31, 2023, the Company had no fixed income securities classified as Level 3.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

Note 2 - Investments - Security Holdings in an Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Less than 12 Months, fair value	$ 104,426	$ 58,944
Less than 12 Months, Accumulated Loss	(1,651)	(726)
12 Months or Longer, fair value	374,224	392,045
12 Months or Longer, Accumulated Loss	(34,955)	(33,577)
Fair value	478,650	450,989
Accumulated Loss	(36,606)	(34,303)
US Government Agencies Debt Securities [Member]
Less than 12 Months, fair value	17,385	738
Less than 12 Months, Accumulated Loss	(385)	(1)
12 Months or Longer, fair value	20,957	38,063
12 Months or Longer, Accumulated Loss	(1,002)	(1,415)
Fair value	38,342	38,801
Accumulated Loss	(1,387)	(1,416)
US States and Political Subdivisions Debt Securities [Member]
Less than 12 Months, fair value	512	0
Less than 12 Months, Accumulated Loss	(5)	0
12 Months or Longer, fair value	6,217	6,196
12 Months or Longer, Accumulated Loss	(814)	(839)
Fair value	6,729	6,196
Accumulated Loss	(819)	(839)
Special Revenue Excluding Asset Backed Securities [Member]
Less than 12 Months, fair value	0	0
Less than 12 Months, Accumulated Loss	0	0
12 Months or Longer, fair value	26,380	26,736
12 Months or Longer, Accumulated Loss	(3,415)	(3,149)
Fair value	26,380	26,736
Accumulated Loss	(3,415)	(3,149)
Corporate Debt Securities and Other Debt Obligations [Member]
Less than 12 Months, fair value	41,802	28,872
Less than 12 Months, Accumulated Loss	(402)	(480)
12 Months or Longer, fair value	212,756	204,034
12 Months or Longer, Accumulated Loss	(17,878)	(16,717)
Fair value	254,558	232,906
Accumulated Loss	(18,280)	(17,197)
Asset-Backed Securities [Member]
Less than 12 Months, fair value	44,727	29,334
Less than 12 Months, Accumulated Loss	(859)	(245)
12 Months or Longer, fair value	107,914	117,016
12 Months or Longer, Accumulated Loss	(11,846)	(11,457)
Fair value	152,641	146,350
Accumulated Loss	$ (12,705)	$ (11,702)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 5. Other Information Rule 10b5-1 Trading Plans During the quarter ended March 31, 2024, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934) adopted, terminated or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K).
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 5 - Stockholders' Equity - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-Based Compensation	$ 3,820	$ 3,450

Note 5 - Stockholders' Equity - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Outstanding, options (in shares) \| shares	807,685
Outstanding, options, weighted average exercise price (in dollars per share) \| $ / shares	$ 34.31
Options exercised, options (in shares) \| shares	(52,722)
Options exercised, options, weighted average exercise price (in dollars per share) \| $ / shares	$ 35.22
Options canceled, options (in shares) \| shares	(5,724)
Options canceled, options, weighted average exercise price (in dollars per share) \| $ / shares	$ 67.05
Outstanding, options (in shares) \| shares	749,239
Outstanding, options, weighted average exercise price (in dollars per share) \| $ / shares	$ 33.99
Outstanding, options, weighted average remaining contractual term (Year)	5 years 8 months 12 days
Outstanding, options, aggregate intrinsic value \| $	$ 38,564
Vested and Exercisable, options (in shares) \| shares	709,725
Vested and Exercisable, options, weighted average exercise price (in dollars per share) \| $ / shares	$ 32.56
Vested and Exercisable, options, weighted average remaining contractual term (Year)	5 years 7 months 6 days
Vested and Exercisable, options, aggregate intrinsic value \| $	$ 37,551

Note 3 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 0	$ 0

Note 2 - Investments (Details Textual) $ in Thousands	3 Months Ended
Note 2 - Investments (Details Textual) $ in Thousands	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	528		483
Debt Securities, Available-for-Sale, Unrealized Loss Position	$ 478,650		$ 450,989
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss	36,606		34,303
Proceeds from Sale of Debt Securities, Available-for-Sale	2,200	$ 5,100
Debt Securities, Available-for-Sale	662,992		643,799
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	22,900
Securities on Deposit With State Regulatory Authorities [Member]
Debt Securities, Available-for-Sale	$ 7,400		$ 8,600

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481830/320-10-45-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479130/326-30-45-1

Note 11 - Credit Agreements (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Dec. 31, 2021	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available as Percentage of Statutory Admitted Assets		10.00%
Federal Home Loan Bank, Advance, Branch of FHLBank, Amount		$ 43,000		$ 52,600
Federal Home Loan Bank, Advance, Branch of FHLBank, Interest Rate		5.60%		5.62%
Interest Expense, Loans from Other Federal Home Loan Banks		$ 700		$ 400
Revolving Credit Facility [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Long-Term Line of Credit		0		$ 0
Interest Expense, Debt		$ 100	$ 600
Revolving Credit Facility [Member] \| Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Revolving Credit Facility [Member] \| Alternate Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Revolving Credit Facility [Member] \| U.S. Bank Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000

Note 5 - Stockholders' Equity - Summary of RSU Transactions (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Outstanding, shares (in shares) \| shares	333,716
Outstanding, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 61.01
Granted, shares (in shares) \| shares	105,370
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 62.6
Released, shares (in shares) \| shares	(72,900)
Released, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 56.05
Forfeited, shares (in shares) \| shares	(8,184)
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 52.15
Non-vested, shares (in shares) \| shares	358,002
Non-vested outstanding, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 62.69

Note 9 - Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Text Block]

9. Earnings Per Share

The following table sets out earnings per share of common stock:

	*Three Months Ended March 31,*
	*2024*		*2023*
	(in thousands, except shares and per share data)
Net income	$	26,382	$	17,313
Weighted average common shares outstanding:
Basic		24,862,367		24,969,703
Common Share equivalents		606,197		473,198
Diluted		25,468,564		25,442,902

Earnings per share:
Basic	$	1.06	$	0.69
Diluted	$	1.04	$	0.68

Common share equivalents relate primarily to outstanding stock options, RSUs and PSUs under the 2019 Plan and unpurchased shares under the 2019 ESPP and are calculated using the treasury stock method.

Note 4 - Reserve for Losses and Loss Adjustment Expenses - Reconciliation of Changes in Reserve Balance for Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Reserve for losses and LAE net of reinsurance recoverables at beginning of period	$ 97,653	$ 77,520
Current year	26,333	17,300
Prior years	504	3,352
Total incurred	26,837	20,652
Current year	4,895	1,393
Prior years	9,432	15,413
Total payments	14,327	16,806
Reserve for losses and LAE net of reinsurance recoverables at end of period	110,163	81,366
Add: Reinsurance recoverables on unpaid losses and LAE at end of period	292,024	183,601	$ 244,622
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period	$ 402,187	$ 264,967	$ 342,275

Amount, after valuation allowance, recoverable under reinsurance contracts for losses reported to the ceding insurer but not yet paid and amounts expected for incurred losses and settlement expenses, which have not yet been reported to the ceding insurer.

+ References + Details

Note 6 - Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	*Three Months Ended March 31,*
	*2024*			*2023*
	(in thousands)
Beginning Balance	$	(23,991	)	$	(36,515	)

Other comprehensive (loss) income before reclassification		(3,185	)		6,956
Federal income tax expense (benefit)		669			(1,460	)
Other comprehensive (loss) income before reclassification, net of tax		(2,516	)		5,496

Amounts reclassified from AOCI		2			(28	)
Federal income tax expense		—			6
Amounts reclassified from AOCI, net of tax		2			(22	)

Other comprehensive (loss) income		(2,514	)		5,474
Balance at end of period	$	(26,505	)	$	(31,041	)

Note 6 - Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Beginning Balance	$ 471,252	$ 384,754
Other comprehensive (loss) income	(2,514)	5,474
Balance at end of period	501,658	404,649
AOCI Attributable to Parent [Member]
Beginning Balance	(23,991)	(36,515)
Other comprehensive (loss) income before reclassification	(3,185)	6,956
Federal income tax expense (benefit)	669	(1,460)
Other comprehensive (loss) income before reclassification, net of tax	(2,516)	5,496
Amounts reclassified from AOCI	2	(28)
Federal income tax expense	0	6
Amounts reclassified from AOCI, net of tax	2	(22)
Other comprehensive (loss) income	(2,514)	5,474
Balance at end of period	$ (26,505)	$ (31,041)

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-24

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-23

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-5

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 43: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 44: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 45: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 46: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-15

Reference 47: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-16

Reference 48: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4I

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Note 5 - Stockholders' Equity (Details Textual) $ in Thousands		3 Months Ended	12 Months Ended
	Jul. 15, 2021	Mar. 31, 2024 USD ($) shares	Dec. 31, 2023	Apr. 30, 2024 USD ($)	Jan. 24, 2022 USD ($)	Apr. 16, 2019 shares
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount \| $		$ 900
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		9 months 18 days
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) \| shares		9,806
Share Repurchase Program, Authorized, Amount \| $					$ 100,000
Treasury Stock, Shares, Acquired (in shares) \| shares		0
Subsequent Event [Member]
Share Repurchase Program, Authorized, Amount \| $				$ 0
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		10 years
Share-Based Payment Arrangement, Option [Member] \| Share-Based Payment Arrangement, Tranche One [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		2 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		25.00%
Share-Based Payment Arrangement, Option [Member] \| Share-Based Payment Arrangement, Tranche One [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		4 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage		50.00%
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		2 years 2 months 12 days
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount \| $		$ 19,100
Restricted Stock Units (RSUs) [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		1 year
Restricted Stock Units (RSUs) [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		5 years
Restricted Stock Units (RSUs) [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Service Period (Year)			3 years
Performance Shares [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		2 years 4 months 24 days
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount \| $		$ 11,800
Number of Stock Price Milestones Achieved		0
Predetermined Performance Achievement, Percentage	100.00%
Performance Shares [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Service Period (Year)		5 years
Number of Days, Achievement of Milestone Stock Price		30
Performance Shares [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Service Period (Year)		3 years
Employee Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) \| shares						240,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Available for Issuance, Authorized Annual Increase, Maximum (in shares) \| shares						240,000
Equity Incentive Plan 2019 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) \| shares		3,694,726				2,400,000
Share Based Compensation Arrangement By Share Based Payment Award Percentage, Number of Additional Shares Available for Grant						3.00%

Note 2 - Investments

3 Months Ended

Mar. 31, 2024

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

2. Investments

The Company’s available‑for‑sale investments are summarized as follows:

			*Gross*		*Gross*			*Allowance*
	*Amortized*		*Unrealized*		*Unrealized*			*for*			*Fair*
March 31, 2024	*Cost or Cost*		*Gains*		*Losses*			*Credit Losses*			*Value*
	(in thousands)
Fixed maturities:
U.S. Governments	$	39,729	$	—	$	(1,387	)	$	—		$	38,342
U.S. States, Territories, and Political Subdivisions		10,632		71		(819	)		—			9,884
Special revenue excluding mortgage/asset-backed securities		32,424		96		(3,415	)		—			29,105
Corporate and other		337,679		1,260		(18,280	)		(904	)		319,755
Mortgage/asset-backed securities		277,041		1,570		(12,705	)		—			265,906
Total available-for-sale investments	$	697,505	$	2,997	$	(36,606	)	$	(904	)	$	662,992

			*Gross*		*Gross*			*Allowance*
	*Amortized*		*Unrealized*		*Unrealized*			*for*			*Fair*
December 31, 2023	*Cost or Cost*		*Gains*		*Losses*			*Credit Losses*			*Value*
	(in thousands)
Fixed maturities:
U.S. Governments	$	40,836	$	—	$	(1,416	)	$	—		$	39,420
U.S. States, Territories, and Political Subdivisions		10,641		100		(839	)		—			9,902
Special revenue excluding mortgage/asset-backed securities		32,513		147		(3,149	)		—			29,511
Corporate and other		316,590		1,750		(17,197	)		(904	)		300,239
Mortgage/asset-backed securities		274,550		1,879		(11,702	)		—			264,727
Total available-for-sale investments	$	675,130	$	3,876	$	(34,303	)	$	(904	)	$	643,799

Security holdings in an unrealized loss position

As of March 31, 2024, the Company held 528 fixed maturity securities in an unrealized loss position with a total estimated fair value of $478.7 million and total gross unrealized losses of $36.6 million. As of December 31, 2023, the Company held 483 fixed maturity securities in an unrealized loss position with a total estimated fair value of $451.0 million and total gross unrealized losses of $34.3 million.

The aggregate fair value and gross unrealized losses of the Company’s investments aggregated by investment category and the length of time these individual securities have been in a continuous unrealized loss position as of March 31, 2024 and December 31, 2023, are as follows:

	*Less Than 12 Months*					*More Than 12 Months*					*Total*
	*Fair*		*Unrealized*			*Fair*		*Unrealized*			*Fair*		*Unrealized*
March 31, 2024	*Value*		*Losses*			*Value*		*Losses*			*Value*		*Losses*
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	17,385	$	(385	)	$	20,957	$	(1,002	)	$	38,342	$	(1,387	)
U.S. States, Territories, and Political Subdivisions		512		(5	)		6,217		(814	)		6,729		(819	)
Special revenue excluding mortgage/asset-backed securities		—		—			26,380		(3,415	)		26,380		(3,415	)
Corporate and other		41,802		(402	)		212,756		(17,878	)		254,558		(18,280	)
Mortgage/asset-backed securities		44,727		(859	)		107,914		(11,846	)		152,641		(12,705	)
Total available-for-sale investments	$	104,426	$	(1,651	)	$	374,224	$	(34,955	)	$	478,650	$	(36,606	)

	*Less Than 12 Months*					*More Than 12 Months*					*Total*
	*Fair*		*Unrealized*			*Fair*		*Unrealized*			*Fair*		*Unrealized*
December 31, 2023	*Value*		*Losses*			*Value*		*Losses*			*Value*		*Losses*
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	738	$	(1	)	$	38,063	$	(1,415	)	$	38,801	$	(1,416	)
U.S. States, Territories, and Political Subdivisions		—		—			6,196		(839	)		6,196		(839	)
Special revenue excluding mortgage/asset-backed securities		—		—			26,736		(3,149	)		26,736		(3,149	)
Corporate and other		28,872		(480	)		204,034		(16,717	)		232,906		(17,197	)
Mortgage/asset-backed securities		29,334		(245	)		117,016		(11,457	)		146,350		(11,702	)
Total available-for-sale investments	$	58,944	$	(726	)	$	392,045	$	(33,577	)	$	450,989	$	(34,303	)

The Company reviews all securities with unrealized losses on a quarterly basis to assess whether the decline in the securities fair value necessitates the recognition of an allowance for credit losses. The Company considers numerous factors in its review as described in Footnote 1 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report on Form 10-K.

The Company has recorded an immaterial allowance for credit losses for two investment securities. Based on the Company’s review as of March 31, 2024, for the remainder of securities, the Company determined that the fixed maturity securities’ unrealized losses were primarily the result of the interest rate environment and not the credit quality of the issuers. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before the recovery of their amortized cost basis.

Contractual maturities of available‑for‑sale fixed maturity securities

The amortized cost and fair value of fixed maturity securities at March 31, 2024, by contractual maturity, are shown below.

	*Amortized*		*Fair*
	*Cost*		*Value*
	(in thousands)
Due within one year	$	66,569	$	64,574
Due after one year through five years		176,356		168,722
Due after five years through ten years		134,209		123,931
Due after ten years		43,330		39,859
Mortgage and asset-backed securities		277,041		265,906
	$	697,505	$	662,992

Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations.

Net investment income summary

Net investment income is summarized as follows:

	*Three Months Ended*
	*March 31,*
	*2024*			*2023*
	(in thousands)
Interest income	$	7,326		$	5,060
Dividend income		197			181
Investment expense		(384	)		(121	)
Net investment income	$	7,139		$	5,120

Net realized and unrealized investment gains and losses

The following table presents net realized and unrealized investment gains and losses:

	*Three Months Ended*
	*March 31,*
	*2024*			*2023*
	(in thousands)
Realized gains:
Gains on sales of fixed maturity securities	$	—		$	28
Total realized gains		—			28
Realized losses:
Losses on sales of fixed maturity securities		(2	)		(3	)
Losses on sales of equity securities		(1,204	)		—
Total realized losses		(1,206	)		(3	)
Net realized investment (losses) gains		(1,206	)		25
Change in allowance for credit losses		—			(659	)
Net unrealized gains (losses) on equity securities		4,229			780
Net unrealized (losses) gains on equity method investment		(21	)		—
Net realized and unrealized gains on investments	$	3,002		$	146

Realized gains and losses on disposition of investments are based on specific identification of the investments sold on the settlement date.

Proceeds from the sale of fixed maturity securities were $2.2 and $5.1 million for the three months ended March 31, 2024 and 2023, respectively.

The Company places securities on statutory deposit with certain state agencies to retain the right to do business in those states. These securities are included in available‑for‑sale investments on the balance sheet. As of March 31, 2024 and December 31, 2023, the carrying value of securities on deposit with state regulatory authorities was $7.4 million and $8.6 million, respectively.

The Company has investments in limited partnerships, recorded in the Other Investments line of the Unaudited Condensed Consolidated Balance Sheets. These investments are measured at estimated fair value utilizing a net asset value per share (or its equivalent) as a practical expedient. As of March 31, 2024, the Company had unfunded commitments to invest an additional $22.9 million in these limited partnerships.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net cash provided by operating activities	$ 33,125	$ 17,437
Investing activities
Capitalized software costs	(1,305)	(1,658)
Purchases of fixed maturity securities	(176,989)	(54,871)
Sales and maturities of fixed maturity securities	154,820	21,679
Sales of equity securities	9,014	0
Change in securities receivable or payable, net	0	950
Investments in limited partnerships	(1,871)	0
Net cash used in investing activities	(16,331)	(33,900)
Financing activities
Net (payments on) proceeds from line of credit	(9,600)	35,000
Proceeds from common stock issued via employee stock purchase plan	434	394
Proceeds from common stock issued via stock option exercises	1,857	91
Policy holder contribution to surplus	427	0
Repurchases of common stock	0	(6,826)
Net cash (used in) provided by financing activities	(6,882)	28,659
Net increase in cash, cash equivalents and restricted cash	9,912	12,196
Cash, cash equivalents and restricted cash at beginning of period	51,852	68,164
Cash, cash equivalents and restricted cash at end of period	61,764	80,360
Supplementary cash flow information:
Cash paid for income taxes	6,560	1
Cash paid for interest	714	1,017
Cash and cash equivalents	61,387
Restricted cash	377
Cash and cash equivalents and restricted cash	$ 61,764	$ 80,360

Note 7 - Underwriting Information (Tables)

3 Months Ended

Mar. 31, 2024

Disaggregation of Revenue [Table Text Block]

	*Three Months Ended March 31,*
	*2024*					*2023*
	($ in thousands)
			*% of*					*% of*
	*Amount*		*GWP*			*Amount*		*GWP*
Product ⁽¹⁾
Earthquake	$	105,729		28.7	%	$	93,495		37.4	%
Fronting		94,831		25.8	%		91,755		36.7	%
Inland Marine and Other Property		76,876		20.9	%		52,705		21.1	%
Casualty		51,935		14.1	%		12,157		4.9	%
Crop		38,707		10.5	%		—		—	%
Total Gross Written Premiums	$	368,078		100.0	%	$	250,112		100.0	%

	*Three Months Ended March 31,*
	*2024*					*2023*
	($ in thousands)
			*% of*					*% of*
	*Amount*		*GWP*			*Amount*		*GWP*
State
California	$	157,217		42.7	%	$	131,889		52.7	%
Texas		40,795		11.1	%		23,210		9.3	%
Florida		13,924		3.8	%		12,096		4.8	%
Hawaii		12,516		3.4	%		10,105		4.0	%
Washington		12,002		3.3	%		11,972		4.8	%
Colorado		9,605		2.6	%		1,848		0.7	%
New York		8,030		2.2	%		3,871		1.5	%
New Mexico		7,469		2.0	%		194		0.1	%
Other		106,520		28.9	%		54,927		22.0	%
Total Gross Written Premiums	$	368,078		100.0	%	$	250,112		100.0	%

	*Three Months Ended March 31,*
	*2024*					*2023*
	($ in thousands)
			*% of*					*% of*
	*Amount*		*GWP*			*Amount*		*GWP*
Subsidiary
PSIC	$	222,657		60.5	%	$	150,704		60.3	%
PESIC		136,493		37.1	%		99,408		39.7	%
Laulima		8,928		2.4	%		—		—	%
Total Gross Written Premiums	$	368,078		100.0	%	$	250,112		100.0	%

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2022	25,027,467
Beginning Balance at Dec. 31, 2022	$ 3	$ 333,558	$ (36,515)	$ 87,708	$ 384,754
Other comprehensive income, net of tax	0	0	5,474	0	5,474
Stock-based compensation	$ 0	3,450	0	0	3,450
Issuance of common stock via employee stock purchase plan (in shares)	7,724
Issuance of common stock via employee stock purchase plan	$ 0	394	0	0	394
Issuance of common stock via equity incentive plan (in shares)	41,685
Issuance of common stock via equity incentive plan	$ 0	90	0	0	90
Repurchases of common stock (in shares)	(134,680)
Repurchases of common stock	$ 0	0	0	(6,826)	(6,826)
Net income	$ 0	0	0	17,313	17,313
Balance (in shares) at Mar. 31, 2023	24,942,196
Balance at end of period at Mar. 31, 2023	$ 3	337,492	(31,041)	98,195	404,649
Balance (in shares) at Dec. 31, 2023	24,772,987
Beginning Balance at Dec. 31, 2023	$ 3	350,597	(23,991)	144,643	471,252
Other comprehensive income, net of tax	0	0	(2,514)	0	(2,514)
Stock-based compensation	$ 0	3,820	0	0	$ 3,820
Issuance of common stock via employee stock purchase plan (in shares)	9,806				9,806
Issuance of common stock via employee stock purchase plan	$ 0	434	0	0	$ 434
Issuance of common stock via equity incentive plan (in shares)	138,267
Issuance of common stock via equity incentive plan	$ 0	1,857	0	0	1,857
Net income	0	0	0	26,382	26,382
Policyholder contribution to surplus	$ 0	427	0	0	427
Balance (in shares) at Mar. 31, 2024	24,921,060
Balance at end of period at Mar. 31, 2024	$ 3	$ 357,135	$ (26,505)	$ 171,025	$ 501,658

Note 7 - Underwriting Information - Schedule of Gross Written Premiums (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

^[1]

$ 368,078

$ 250,112

Palomar Specialty Insurance Company [Member]

^[1]

100.00%

$ 222,657

$ 150,704

Palomar Excess And Surplus Insurance Company [Member]

60.50%

60.30%

$ 136,493

$ 99,408

Laulima Insurance Company [Member]

37.10%

39.70%

$ 8,928

$ 0

2.40%

0.00%

CALIFORNIA

$ 157,217

$ 131,889

42.70%

52.70%

TEXAS

$ 40,795

$ 23,210

11.10%

9.30%

FLORIDA

$ 13,924

$ 12,096

3.80%

4.80%

HAWAII

$ 12,516

$ 10,105

3.40%

4.00%

WASHINGTON

$ 12,002

$ 11,972

3.30%

4.80%

COLORADO

$ 9,605

$ 1,848

2.60%

0.70%

NEW YORK

$ 8,030

$ 3,871

2.20%

1.50%

NEW MEXICO

$ 7,469

$ 194

2.00%

0.10%

Other States [Member]

$ 106,520

$ 54,927

Earthquake Premiums [Member]

28.90%

22.00%

^[1]

$ 105,729

$ 93,495

Fronting Premium [Member]

^[1]

28.70%

37.40%

^[1]

$ 94,831

$ 91,755

Inland Marine and Other Property [Member]

^[1]

25.80%

36.70%

^[1]

$ 76,876

$ 52,705

^[1]

20.90%

21.10%

Casualty [Member]

^[1]

$ 51,935

$ 12,157

^[1]

14.10%

4.90%

Crop [Member]

^[1]

$ 38,707

$ 0

^[1]

10.50%

0.00%

[1]

Note 5 - Stockholders' Equity

3 Months Ended

Mar. 31, 2024

Equity [Text Block]

5. Stockholders’ Equity

Common stock reserved for future issuance

Common stock reserved for future issuance consists of the following as of March 31, 2024:

Stock options outstanding under 2019 Equity Incentive Plan			749,239
Restricted stock units outstanding under 2019 Equity Incentive Plan			358,002
Performance stock units outstanding under 2019 Equity Incentive Plan, at target			461,037
Shares authorized for future issuance under 2019 Equity Incentive Plan			3,694,726
Shares authorized for future issuance under 2019 Employee Stock Purchase Plan			1,360,964
Total			6,623,968

Stock based compensation

The below table summarizes the Company’s stock-based compensation expense for each period presented:

	*Three Months Ended March 31,*
	*2024*		*2023*
	(in thousands)
Stock-Based Compensation	$	3,820	$	3,450

Stock-based compensation expense is recognized on a straight-line basis over the vesting period of equity-based awards. For performance stock units (“PSUs”), any changes to expense resulting from differences in actual performance versus target are recognized over the remaining vesting period of the awards. The Company does not apply a forfeiture rate to unvested awards and accounts for forfeitures as they occur. All stock-based compensation is included in other underwriting expenses in the Company’s unaudited condensed consolidated statement of income and comprehensive income.

2019 Equity Incentive Plan

On April 16, 2019, the Company's 2019 Equity Incentive Plan (the “2019 Plan”) became effective. The 2019 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance shares and units, and other cash-based or share-based awards. In addition, the 2019 Plan contains a mechanism through which the Company may adopt a deferred compensation arrangement in the future.

A total of 2,400,000 shares of common stock were initially authorized and reserved for issuance under the 2019 Plan. This reserve increases on January 1 of each year through 2029 by an amount equal to the smaller of: 3% of the number of shares of common stock issued and outstanding on the immediately preceding December 31, or an amount determined by the board of directors.

Stock Options

Recipients of stock options can purchase shares of the Company’s common stock at a price equal to the stock's fair market value on the grant date, determined by the closing price of the Company's common stock on the grant date. Stock options vest over a period between two and four years with between 25% and 50% vesting on the first anniversary of the grant date and the remainder vesting monthly over the remaining period, subject to continued service to the Company. Stock options expire ten years after the grant date.

The following table summarizes stock option transactions for the three months ended March 31, 2024:

	*Number of shares*			*Weighted-average exercise price*		*Weighted-average remaining contractual term (in years)*		*Aggregate intrinsic value (in thousands)*
Outstanding at January 1, 2024		807,685		$	34.31		—	$	—
Options granted		—			—
Options exercised		(52,722	)		35.22
Options canceled		(5,724	)		67.05
Outstanding at March 31, 2024		749,239		$	33.99		5.7	$	38,564
Vested and Exercisable at March 31, 2024		709,725		$	32.56		5.6	$	37,551

As of March 31, 2024, the Company had approximately $0.9 million of total unrecognized stock-based compensation expense related to stock options expected to be recognized over a weighted-average period of 0.8 years.

Restricted Stock Units

RSUs are valued using the closing price of the Company’s common stock on their grant date. The Company has issued RSUs with vesting periods of one to five years. All vesting is subject to continued service.

The following table summarizes RSU transactions for the three months ended March 31, 2024:

	*Number of shares*			*Weighted-average grant date fair value*
Outstanding at January 1, 2024		333,716		$	61.01
Granted		105,370			62.60
Released		(72,900	)		56.05
Forfeited		(8,184	)		52.15
Non-vested outstanding at March 31, 2024		358,002		$	62.69

As of March 31, 2024, the Company had approximately $19.1 million of total unrecognized stock-based compensation expense related to RSUs expected to be recognized over a weighted-average period of 2.2 years.

Performance Stock Units

The Company issues PSUs with a combination of service, performance, and market conditions.

The majority of PSUs were issued via grants made to certain executives during 2021. These PSUs are earned based on the achievement of stock price milestones. If the Company’s stock price reaches and remains at certain milestones for 30 days, the PSUs shall become earned units and will vest upon completion of a requisite service period of approximately five years from the date of grant. As of March 31, 2024, none of the stock price milestones have been achieved.

For other PSUs outstanding, vesting of PSUs requires a period of future service and the number of shares that vest depends on performance relative to predetermined targets of the Company’s Gross Written Premiums and Adjusted Return on Equity as set by the Compensation Committee. Prior to 2023, the PSU’s performance period was the fiscal year of the grant. Beginning in 2023, the PSU’s performance period is primarily a three-year period beginning with the grant date. At the end of the performance period, the actual results are measured against the predetermined targets to determine the number of PSUs to be earned as compensation. The earned PSUs are also subject to a required service period of approximately three years from the grant date before vesting and being issued as common stock.

The following table summarizes PSU transactions for the three months ended March 31, 2024:

	*Number of shares*			*Weighted-average grant date fair value*
Outstanding at January 1, 2024		423,621		$	38.90
Granted		55,005			65.22
Vested		(12,645	)		96.74
Forfeited		(4,944	)		50.19
Non-vested outstanding at March 31, 2024		461,037		$	40.33

The PSU grants above represent the number of shares that would vest based on achievement of all stock price milestones in the 2021 executive stock grants and the 100% achievement of the predetermined performance conditions for the other PSU grants. The actual number of PSUs which will vest is subject to adjustment based on the Company’s actual stock price performance and financial performance relative to the predetermined targets. As of March 31, 2024, the Company had approximately $11.8 million of total unrecognized stock-based compensation expense related to PSUs expected to be recognized over a weighted-average period of 2.4 years.

2019 Employee Stock Purchase Plan

On April 16, 2019, the Company's 2019 Employee Stock Purchase Plan (the “2019 ESPP”) became effective. A total of 240,000 shares of common stock are initially authorized and reserved for issuance under the 2019 ESPP. In addition, the 2019 ESPP provides for annual increases in the number of shares available for issuance on January 1 of each year through 2029, equal to the smaller of 240,000 shares of the Company’s common stock or such other amount as may be determined by the board of directors.

Under the 2019 ESPP, employees can purchase Company stock at a discount via payroll withholdings. The 2019 ESPP is administered through employee participation in discrete offering periods. During each discrete offering period employee funds are withheld, and the stock purchase occurs upon the conclusion of the offering period. The Company issued 9,806 shares pursuant to the ESPP during the three months ended March 31, 2024.

Share repurchases

In January 2022, Company's the Board of Directors approved a share repurchase program which replaced the existing program and authorized the repurchase of up to $100 million of outstanding shares of common stock. There were no share repurchases under this program during the three months ended March 31, 2024. The program ended on March 31, 2024 and no additional shares may be repurchased under this plan. The Company accounts for share repurchases by charging the excess of repurchase price over the common stock’s par value entirely to retained earnings. All repurchased shares are retired and become authorized but unissued shares.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Note 10 - Reinsurance

3 Months Ended

Mar. 31, 2024

Reinsurance [Text Block]

10. Reinsurance

The Company utilizes reinsurance in order to limit its exposure to losses and enable it to underwrite policies with sufficient limits to meet policyholder needs. The Company utilizes both excess of loss (XOL) and quota share reinsurance.

As of March 31, 2024, the Company’s catastrophe event retention is $17.5 million for all perils and the Company’s XOL reinsurance structure provides protection up to $2.71 billion for earthquake events, $800 million for Hawaii hurricane events, and $100 million for continental U.S. hurricane events.

In addition to reinsurance purchased from traditional reinsurers, the Company has historically incorporated collateralized protection from the insurance linked securities market via catastrophe bonds. During the first quarter of 2021, the Company closed a $400 million 144A catastrophe bond which became effective June 1, 2021. The catastrophe bond was completed through Torrey Pines Re Pte. Ltd. (“Torrey Pines Re Pte.”). Torrey Pines Re Pte. is a special purpose reinsurance vehicle incorporated in Singapore that provides Palomar with indemnity-based reinsurance covering earthquake events through June 1, 2024. During the second quarter of 2022, the Company closed a $275 million 144A catastrophe bond which became effective June 1, 2022. This catastrophe bond was completed through Torrey Pines Re Ltd., a Bermuda-domiciled special purpose insurer that provides indemnity-based reinsurance covering earthquake events through June 1, 2025. During the second quarter of 2023, the Company also closed a $200 million 144A catastrophe bond which became effective June 1, 2023. This catastrophe bond was also completed through Torrey Pines Re Ltd and provides indemnity-based reinsurance covering earthquake events through June 1, 2026.

Note 9 - Earnings Per Share - Earnings Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 26,382	$ 17,313
Basic (in shares)	24,862,367	24,969,703
Common Share equivalents (in shares)	606,197	473,198
Diluted (in shares)	25,468,564	25,442,902
Basic earnings per share (in dollars per share)	$ 1.06	$ 0.69
Diluted earnings per share (in dollars per share)	$ 1.04	$ 0.68

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Note 10 - Reinsurance (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2021
Catastrophe Bond, Face Value		$ 200,000	$ 275,000	$ 400,000
Catastrophe [Member]
Reinsurance, Amount Retained, Per Event	$ 17,500
Earthquake [Member]
Reinsurance Policy, Excess of Loss Protection Amount	2,710
Hawaii Hurricane [Member]
Reinsurance Policy, Excess of Loss Protection Amount	800,000
U.S. Hurricane [Member]
Reinsurance Policy, Excess of Loss Protection Amount	$ 100,000

Note 2 - Investments - Summary of Available for Sale Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Available-for-Sale, Amortized Cost	$ 697,505	$ 675,130
Available-for-sale, Accumulated Gross Unrealized Gain	2,997	3,876
Available-for-sale, Accumulated Gross Unrealized Loss	(36,606)	(34,303)
Available-for-Sale, Allowance for Credit Loss	(904)	(904)
Fixed maturity securities available for sale, at fair value (amortized cost: $697,505 in 2024; $675,130 in 2023)	662,992	643,799
US Government Agencies Debt Securities [Member]
Available-for-Sale, Amortized Cost	39,729	40,836
Available-for-sale, Accumulated Gross Unrealized Gain	0	0
Available-for-sale, Accumulated Gross Unrealized Loss	(1,387)	(1,416)
Available-for-Sale, Allowance for Credit Loss	0	0
Fixed maturity securities available for sale, at fair value (amortized cost: $697,505 in 2024; $675,130 in 2023)	38,342	39,420
US States and Political Subdivisions Debt Securities [Member]
Available-for-Sale, Amortized Cost	10,632	10,641
Available-for-sale, Accumulated Gross Unrealized Gain	71	100
Available-for-sale, Accumulated Gross Unrealized Loss	(819)	(839)
Available-for-Sale, Allowance for Credit Loss	0	0
Fixed maturity securities available for sale, at fair value (amortized cost: $697,505 in 2024; $675,130 in 2023)	9,884	9,902
Special Revenue Excluding Asset Backed Securities [Member]
Available-for-Sale, Amortized Cost	32,424	32,513
Available-for-sale, Accumulated Gross Unrealized Gain	96	147
Available-for-sale, Accumulated Gross Unrealized Loss	(3,415)	(3,149)
Available-for-Sale, Allowance for Credit Loss	0	0
Fixed maturity securities available for sale, at fair value (amortized cost: $697,505 in 2024; $675,130 in 2023)	29,105	29,511
Corporate Debt Securities and Other Debt Obligations [Member]
Available-for-Sale, Amortized Cost	337,679	316,590
Available-for-sale, Accumulated Gross Unrealized Gain	1,260	1,750
Available-for-sale, Accumulated Gross Unrealized Loss	(18,280)	(17,197)
Available-for-Sale, Allowance for Credit Loss	(904)	(904)
Fixed maturity securities available for sale, at fair value (amortized cost: $697,505 in 2024; $675,130 in 2023)	319,755	300,239
Asset-Backed Securities [Member]
Available-for-Sale, Amortized Cost	277,041	274,550
Available-for-sale, Accumulated Gross Unrealized Gain	1,570	1,879
Available-for-sale, Accumulated Gross Unrealized Loss	(12,705)	(11,702)
Available-for-Sale, Allowance for Credit Loss	0	0
Fixed maturity securities available for sale, at fair value (amortized cost: $697,505 in 2024; $675,130 in 2023)	$ 265,906	$ 264,727

Note 4 - Reserve for Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

	*Three Months Ended March 31,*
	*2024*		*2023*
	(in thousands)
Reserve for losses and LAE net of reinsurance recoverables at beginning of period	$	97,653	$	77,520
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year		26,333		17,300
Prior years		504		3,352
Total incurred		26,837		20,652
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year		4,895		1,393
Prior years		9,432		15,413
Total payments		14,327		16,806
Reserve for losses and LAE net of reinsurance recoverables at end of period		110,163		81,366
Add: Reinsurance recoverables on unpaid losses and LAE at end of period		292,024		183,601
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period	$	402,187	$	264,967

Note 8 - Income Taxes (Details Textual)	3 Months Ended
Note 8 - Income Taxes (Details Textual)	Mar. 31, 2024	Mar. 31, 2023
Effective Income Tax Rate Reconciliation, Percent	23.20%	23.50%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%

Note 11 - Credit Agreements

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Text Block]

11. Credit Agreements

U.S. Bank Credit Agreement

In December 2021, the Company entered into a Credit Agreement with U.S. Bank National Association which provides a revolving credit facility of up to $100 million through December 8, 2026. Interest on the credit facility accrues on each SOFR rate loan at the applicable SOFR (as defined in the Credit Agreement) plus 1.75% and on each base rate loan at the applicable Alternate Base Rate (as defined in the Credit Agreement) plus 0.75%. A loan may be either a SOFR rate loan or a base rate loan, at the Company’s discretion. Outstanding amounts under the Credit Agreement may be prepaid in full or in part at any time with no prepayment premium and may be reduced in full or in part at any time upon prior notice. In addition to interest on funds borrowed, the Company must pay an unused line fee of 0.25% on any amounts not borrowed.

The Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among other things, financial covenants, restrictions on indebtedness, liens, investments, mergers, dispositions, prepayment of other indebtedness and dividends and other distributions. The financial covenants include requirements to maintain a permissible debt to capital ratio, a minimum consolidated net worth, a minimum risk based capital ratio and minimum A.M. Best financial strength rating. The Credit Agreement also contains customary events of default, such as non-compliance with financial covenants. If an event of default occurs, any debt may be declared immediately due and payable. As of March 31, 2024, the Company was in compliance with all debt covenants.

As of March 31, 2024 and December 31, 2023, the Company had no borrowings outstanding on the Credit Agreement. Interest expense on the Credit Agreement was $0.1 million and $0.6 million for the three months ended March 31, 2024 and March 31, 2023, respectively.

FHLB Line of Credit

The Company’s PSIC subsidiary is a member of the Federal Home Loan Bank of San Francisco (“FHLB”). Membership in the FHLB provides PSIC access to collateralized advances, which can be drawn for general corporate purposes and used to enhance liquidity management. All borrowings are fully secured by a pledge of specific investment securities of PSIC and the borrowing capacity is equal to 10% of PSIC’s statutory admitted assets. All advances have a predetermined term and the interest rate varies based on the term of the advance.

As of March 31, 2024, the Company had $43.0 million of borrowings outstanding through the FHLB at the overnight rate of 5.60%. Interest expense on the FHLB line of credit was $0.7 million for the three months ended March 31, 2024. As of December 31, 2023, the Company had $52.6 million of borrowings outstanding through the FHLB at the overnight rate of 5.62%. Interest expense on the FHLB Line of Credit was $0.4 million for the three months ended March 31, 2023.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Note 4 - Reserve for Losses and Loss Adjustment Expenses (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Prior Year Claims and Claims Adjustment Expense	$ 504	$ 3,352

Note 7 - Underwriting Information

3 Months Ended

Mar. 31, 2024

Segment Reporting Disclosure [Text Block]

7. Underwriting Information

The Company has a single reportable segment and offers specialty insurance products. Gross written premiums (“GWP”) by product are presented below:

	*Three Months Ended March 31,*
	*2024*					*2023*
	($ in thousands)
			*% of*					*% of*
	*Amount*		*GWP*			*Amount*		*GWP*
Product ⁽¹⁾
Earthquake	$	105,729		28.7	%	$	93,495		37.4	%
Fronting		94,831		25.8	%		91,755		36.7	%
Inland Marine and Other Property		76,876		20.9	%		52,705		21.1	%
Casualty		51,935		14.1	%		12,157		4.9	%
Crop		38,707		10.5	%		—		—	%
Total Gross Written Premiums	$	368,078		100.0	%	$	250,112		100.0	%

(1) - Beginning in 2024, the Company has updated the categorization of its products to align with management's current strategy and view of the business. Prior year amounts have been reclassified for comparability purposes. The recategorization is for presentation purposes only and does not impact overall gross written premiums.

Gross written premiums by state are as follows:

	*Three Months Ended March 31,*
	*2024*					*2023*
	($ in thousands)
			*% of*					*% of*
	*Amount*		*GWP*			*Amount*		*GWP*
State
California	$	157,217		42.7	%	$	131,889		52.7	%
Texas		40,795		11.1	%		23,210		9.3	%
Florida		13,924		3.8	%		12,096		4.8	%
Hawaii		12,516		3.4	%		10,105		4.0	%
Washington		12,002		3.3	%		11,972		4.8	%
Colorado		9,605		2.6	%		1,848		0.7	%
New York		8,030		2.2	%		3,871		1.5	%
New Mexico		7,469		2.0	%		194		0.1	%
Other		106,520		28.9	%		54,927		22.0	%
Total Gross Written Premiums	$	368,078		100.0	%	$	250,112		100.0	%

Gross written premiums by insurance subsidiary are as follows:

	*Three Months Ended March 31,*
	*2024*					*2023*
	($ in thousands)
			*% of*					*% of*
	*Amount*		*GWP*			*Amount*		*GWP*
Subsidiary
PSIC	$	222,657		60.5	%	$	150,704		60.3	%
PESIC		136,493		37.1	%		99,408		39.7	%
Laulima		8,928		2.4	%		—		—	%
Total Gross Written Premiums	$	368,078		100.0	%	$	250,112		100.0	%

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32