Document and Entity Information - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Feb. 13, 2026 |
Jun. 30, 2025 |
|
| Cover [Abstract] | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Dec. 31, 2025 | ||
| Document Fiscal Year Focus | 2025 | ||
| Document Fiscal Period Focus | FY | ||
| Trading Symbol | AMSF | ||
| Entity Registrant Name | AMERISAFE, INC. | ||
| Entity Central Index Key | 0001018979 | ||
| Entity Current Reporting Status | Yes | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Voluntary Filers | No | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Document Annual Report | true | ||
| Document Transition Report | false | ||
| Entity Shell Company | false | ||
| Entity Small Business | false | ||
| Entity Emerging Growth Company | false | ||
| Entity File Number | 001-12251 | ||
| Entity Tax Identification Number | 75-2069407 | ||
| Entity Address, Address Line One | 2301 Highway 190 West | ||
| Entity Address, City or Town | DeRidder | ||
| Entity Address, State or Province | LA | ||
| Entity Address, Postal Zip Code | 70634 | ||
| City Area Code | 337 | ||
| Local Phone Number | 463-9052 | ||
| Entity Common Stock, Shares Outstanding | 18,794,881 | ||
| Entity Public Float | $ 819.6 | ||
| Entity Incorporation, State or Country Code | TX | ||
| Title of 12(b) Security | Common stock, par value $0.01 per share | ||
| Security Exchange Name | NASDAQ | ||
| Entity Interactive Data Current | Yes | ||
| ICFR Auditor Attestation Flag | true | ||
| Document Financial Statement Error Correction [Flag] | false | ||
| Auditor Name | Ernst & Young LLP | ||
| Auditor Location | New Orleans, Louisiana | ||
| Auditor Firm ID | 42 | ||
| Documents Incorporated by Reference | DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s Proxy Statement relating to the 2026 Annual Meeting of Shareholders are incorporated by reference in Items 10, 11, 12, 13 and 14 of Part III of this report. |
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| Auditor Opinion [Text Block] | Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of AMERISAFE, Inc. and subsidiaries (the Company) as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in shareholders’ equity and cash flows for each of the three years in the period ended December 31, 2025, and the related notes and financial statement schedules listed in the Index at Item 15 (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated February 27, 2026 expressed an unqualified opinion thereon. |
Consolidated Balance Sheets (Parenthetical) - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Statement of Financial Position [Abstract] | |||
| Fixed maturity securities, held-to-maturity, allowance for credit losses | $ 73,000 | $ 116,000 | |
| Fixed maturity securities, fair value | 344,576,000 | 399,721,000 | |
| Fixed maturity securities, available-for-sale, allowance for credit losses | 0 | 0 | |
| Fixed maturity securities, amortized cost | 317,116,000 | 318,975,000 | |
| Equity securities, cost | 31,165,000 | 36,020,000 | |
| Amounts recoverable from reinsurers, allowance for credit losses | 264,000 | 300,000 | |
| Premiums receivable, allowance for credit losses | $ 4,172,000 | $ 4,238,000 | $ 4,674,000 |
| Common stock, par value | $ 0.01 | $ 0.01 | |
| Common stock, shares authorized | 50,000,000 | 50,000,000 | |
| Common stock, shares issued | 20,769,021 | 20,733,166 | |
| Common stock, shares outstanding | 18,794,881 | 19,050,315 | |
| Treasury stock, shares | 1,974,140 | 1,682,851 |
Consolidated Statements of Income - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Revenues | |||
| Net premiums earned | $ 283,057 | $ 270,639 | $ 267,125 |
| Net investment income | 26,993 | 29,212 | 31,339 |
| Net realized gains (losses) on investments | 3,034 | (576) | 6,579 |
| Net unrealized gains on equity securities | 3,719 | 9,508 | 1,228 |
| Fee and other income | 449 | 260 | 582 |
| Total revenues | 317,252 | 309,043 | 306,853 |
| Expenses | |||
| Loss and loss adjustment expenses incurred | 169,937 | 157,267 | 148,263 |
| Underwriting and certain other operating costs | 27,625 | 24,876 | 27,508 |
| Commissions | 25,092 | 23,750 | 23,446 |
| Salaries and benefits | 33,264 | 31,503 | 27,359 |
| Policyholder dividends | 2,526 | 2,657 | 2,957 |
| Provision for investment related credit loss benefit | (43) | (66) | (57) |
| Total expenses | 258,401 | 239,987 | 229,476 |
| Income before income taxes | 58,851 | 69,056 | 77,377 |
| Income tax expense | 11,706 | 13,620 | 15,269 |
| Net income | $ 47,145 | $ 55,436 | $ 62,108 |
| Earnings per share | |||
| Basic | $ 2.48 | $ 2.91 | $ 3.24 |
| Diluted | $ 2.47 | $ 2.89 | $ 3.23 |
| Shares used in computing earnings per share | |||
| Basic | 18,979,465 | 19,070,717 | 19,149,080 |
| Diluted | 19,082,142 | 19,159,805 | 19,226,021 |
| Special cash dividends declared per common share | $ 1.00 | $ 3.00 | $ 3.50 |
| Cash dividends declared per common share | $ 1.56 | $ 1.48 | $ 1.36 |
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net Income (Loss) | $ 47,145 | $ 55,436 | $ 62,108 |
| Other comprehensive income: | |||
| Unrealized gain (loss) on debt securities, net of tax | 5,658 | (1,681) | 6,634 |
| Comprehensive income | $ 52,803 | $ 53,755 | $ 68,742 |
Pay vs Performance Disclosure - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ 47,145 | $ 55,436 | $ 62,108 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Trading Arrangements, by Individual | |
| Title | directors or officers |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
| Rule 10b5-1 Arr Modified Flag | false |
| Non-Rule 10b5-1 Arr Modified Flag | false |
Cybersecurity Risk Management, Strategy and Governance |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | tem 1C. Cybersecurity We have established and implemented security measures, controls and procedures in an effort to safeguard our information technology systems and to prevent unauthorized access to these systems and any data processed and/or stored in these systems. We evaluate the adequacy of our third-party service providers’ cybersecurity measures through periodic due diligence and contractual obligations. We analyze the probability and impact of cybersecurity risks using recognized cybersecurity standards and frameworks for our industry and have identified certain material risks from cybersecurity threats. As part of this analysis, we also work to determine whether these material risks would be a threat to our business continuity. To help minimize our risks related to cybersecurity threats and incidents, we maintain physical controls (including a centralized electronic card access control system, uninterruptable power supply units and other environmental controls) and technical controls (including firewalls, signature and behavior-based monitoring, intrusion detection systems, encryption and backups, and mobile application management). We engage third parties in connection with our processes for assessing, identifying, and managing material risks from cybersecurity threats. Outside parties perform independent cybersecurity testing to help us identify opportunities to strengthen our cyber control against applicable threats. No known risks from cybersecurity threats have materially affected or are reasonably likely to materially affect our company, our business strategy, results of our operations, or our financial condition. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats. For more information about these risks, please see “Risk Factors – Strategic and Operational Risks” in this annual report on Form 10-K. As part of our overall risk management system, we assess, identify and provide oversight over cybersecurity risks to our information technology systems and our business continuity. We have identified key risk drivers and characteristics, and have incorporated these into our risk assessment matrix, which we use for day-to-day risk mitigation. Our risk assessment matrix provides us with a means to assess the probability and impact of material risks from cybersecurity threats. As a result of this process, we have identified and implemented controls and mitigation methods to manage these risks. The risk committee of our board of directors meets with management to review and provide oversight of certain operational areas where we have identified key risks to our business, including our cybersecurity practices. The risk committee reviews our strategies, governing and management framework, security principles, and training and evaluations for cybersecurity threats. As part of this review, each quarter the Chief Risk Officer presents key cybersecurity metrics and analysis to the risk committee. The Chief Risk Officer manages a team that assesses day-to-day cybersecurity. We actively maintain an Incident Response Plan, and in the event of a cybersecurity breach or incident, the Chief Risk Officer leads our response and initial risk assessment to mitigate impact and initiate any recovery process. Following identification of a cybersecurity breach or incident, incidents of medium or high severity level are elevated to an Incident Response Team. In addition to leading the response to such incidents, the Incident Response Team evaluates whether an incident is material and the associated public reporting implications. Incidents that are reviewed by the Incident Response Team are promptly elevated to the risk committee. The Chief Risk Officer stays informed through multiple sources: technology and cybersecurity news, bulletins from the federal Cybersecurity and Infrastructure Security Agency, Information Sharing and Analysis Center feeds, and threat intelligence feeds from multiple sources. We also utilize a security operations center that acts as a centralized hub dedicated to monitoring, detecting, and responding to cybersecurity threats. The Chief Risk Officer holds the Certified Risk Manager designation, and has more than 32 years of technology experience, including 17 years overseeing cybersecurity processes, risk assessment and risk management. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | As part of our overall risk management system, we assess, identify and provide oversight over cybersecurity risks to our information technology systems and our business continuity. We have identified key risk drivers and characteristics, and have incorporated these into our risk assessment matrix, which we use for day-to-day risk mitigation. Our risk assessment matrix provides us with a means to assess the probability and impact of material risks from cybersecurity threats. As a result of this process, we have identified and implemented controls and mitigation methods to manage these risks. The risk committee of our board of directors meets with management to review and provide oversight of certain operational areas where we have identified key risks to our business, including our cybersecurity practices. The risk committee reviews our strategies, governing and management framework, security principles, and training and evaluations for cybersecurity threats. As part of this review, each quarter the Chief Risk Officer presents key cybersecurity metrics and analysis to the risk committee. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The risk committee of our board of directors meets with management to review and provide oversight of certain operational areas where we have identified key risks to our business, including our cybersecurity practices. The risk committee reviews our strategies, governing and management framework, security principles, and training and evaluations for cybersecurity threats. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | As part of this review, each quarter the Chief Risk Officer presents key cybersecurity metrics and analysis to the risk committee. |
| Cybersecurity Risk Role of Management [Text Block] | The Chief Risk Officer manages a team that assesses day-to-day cybersecurity. We actively maintain an Incident Response Plan, and in the event of a cybersecurity breach or incident, the Chief Risk Officer leads our response and initial risk assessment to mitigate impact and initiate any recovery process. Following identification of a cybersecurity breach or incident, incidents of medium or high severity level are elevated to an Incident Response Team. In addition to leading the response to such incidents, the Incident Response Team evaluates whether an incident is material and the associated public reporting implications. Incidents that are reviewed by the Incident Response Team are promptly elevated to the risk committee. The Chief Risk Officer stays informed through multiple sources: technology and cybersecurity news, bulletins from the federal Cybersecurity and Infrastructure Security Agency, Information Sharing and Analysis Center feeds, and threat intelligence feeds from multiple sources. We also utilize a security operations center that acts as a centralized hub dedicated to monitoring, detecting, and responding to cybersecurity threats. The Chief Risk Officer holds the Certified Risk Manager designation, and has more than 32 years of technology experience, including 17 years overseeing cybersecurity processes, risk assessment and risk management. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The Chief Risk Officer manages a team that assesses day-to-day cybersecurity. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | The Chief Risk Officer holds the Certified Risk Manager designation, and has more than 32 years of technology experience, including 17 years overseeing cybersecurity processes, risk assessment and risk management. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | In addition to leading the response to such incidents, the Incident Response Team evaluates whether an incident is material and the associated public reporting implications. Incidents that are reviewed by the Incident Response Team are promptly elevated to the risk committee. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Summary of Significant Accounting Policies |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | 1. Summary of Significant Accounting Policies Organization AMERISAFE, Inc. is an insurance holding company incorporated in the state of Texas. The accompanying consolidated financial statements include the accounts of AMERISAFE and its wholly-owned subsidiaries: American Interstate Insurance Company (AIIC) and its wholly-owned insurance subsidiaries, Silver Oak Casualty, Inc. (SOCI) and American Interstate Insurance Company of Texas (AIICTX); Amerisafe Risk Services, Inc. (RISK) and Amerisafe General Agency, Inc. (AGAI). AIIC and SOCI are property and casualty insurance companies organized under the laws of the state of Nebraska. AIICTX is a property and casualty insurance company organized under the laws of the state of Texas. RISK is a claims and safety service company currently servicing only affiliated insurance companies. AGAI is a general agent for the Company. AGAI sells insurance, which is underwritten by AIIC, SOCI and AIICTX, as well as by nonaffiliated insurance carriers. The terms “AMERISAFE,” the “Company,” “we,” “us” or “our” refer to AMERISAFE, Inc. and its consolidated subsidiaries, as the context requires. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, services, manufacturing, and maritime. Assets and revenues of AIIC and its subsidiaries represent at least 95% of comparable consolidated amounts of the Company for each of 2025, 2024 and 2023. Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Reclassifications
Certain prior year amounts have been reclassified to conform with the current year presentation. Adopted Accounting Guidance
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Improvements to Income Tax Disclosures, that requires expanded income tax disclosures, including disaggregation of existing disclosures related to the tax rate reconciliation and income taxes paid. This update is effective for annual periods beginning after December 15, 2024. The Company adopted the new standard starting with this Annual Report on Form 10-K for the fiscal year ended December 31, 2025 using a retrospective approach. See Note 7, Income Taxes, for changes to the tax disclosure related to the new guidance. Prospective Accounting Guidance
In November 2024, the FASB issued ASU 2024-03, Expense Disaggregation Disclosures, which requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our Annual Report on Form 10-K for the year ended December 31, 2027, and interim reporting periods beginning in 2028. Early adoption of the new standard is permitted; however, we have not elected to early-adopt the standard. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.
In September 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal-Use Software. This standard update modernizes the capitalization criteria for internal-use software, eliminating references to project stages and instead requiring that projects meet completion probability criteria before costs can be capitalized. This guidance is effective beginning first quarter 2028, though early adoption is permitted, and can be applied using a prospective, retrospective, or modified transition approach. The Company is currently evaluating the impact of these amendments but does not anticipate that adoption will have a material impact on the Company’s results of operations or financial position. Investments The Company has the ability and positive intent to hold certain investments until maturity. Therefore, fixed maturity securities classified as held-to-maturity are recorded at amortized cost net of the allowance for credit losses. Fixed maturity securities classified as available-for-sale are recorded at fair value. Temporary changes in the fair value of these securities are reported in shareholders’ equity as a component of other comprehensive income, net of deferred income taxes. Changes in the fair value of equity securities are recorded in net income. Investment income is recognized as it is earned. The discount or premium on fixed maturity securities is amortized using the “constant yield” method. Anticipated prepayments, where applicable, are considered when determining the amortization of premiums or discounts. Realized investment gains and losses are determined using the specific identification method. Cash and Cash Equivalents Cash equivalents include short-term money market funds with a maturity date, at the time of purchase, of 90 days or less. Short-Term Investments Short-term investments include municipal securities and corporate bonds with an original maturity date greater than 90 days but less than one year. Premiums Receivable Premiums receivable consist primarily of premium-related balances due from policyholders. The Company considers premiums receivable as past due based on the payment terms of the underlying policy. The balance is shown net of the allowance for credit losses. Receivables due from insureds are charged off when a determination has been made by management that a specific balance will not be collected. An estimate of amounts that are likely to be charged off is established as an allowance for credit losses as of the balance sheet date. The estimate is primarily comprised of specific balances that are considered probable to be charged off after all collection efforts have ceased, as well as historical trends and an analysis of the aging of the receivables. Property and Equipment The Company’s property and equipment, including certain costs incurred to develop or obtain software for internal use, are stated at cost less accumulated depreciation. Depreciation is calculated primarily by the straight-line method over the estimated useful lives of the respective assets, generally 39 years for buildings and to seven years for all other fixed assets. Deferred Policy Acquisition Costs The direct costs of successfully acquiring and renewing business are capitalized to the extent recoverable and are amortized over the effective period of the related insurance policies in proportion to premium revenue earned. These capitalized costs consist mainly of sales commissions, premium taxes and other underwriting costs. The Company evaluates deferred policy acquisition costs for recoverability by comparing the unearned premiums to the estimated total expected claim costs and related expenses, offset by anticipated investment income. The Company would reduce the deferred costs if the unearned premiums were less than expected claims and expenses after considering investment income, and report any adjustments in amortization of deferred policy acquisition costs. There were no adjustments necessary in 2025, 2024 or 2023. Reserves for Loss and Loss Adjustment Expenses Reserves for loss and loss adjustment expenses represent the estimated ultimate cost of all reported and unreported losses incurred through December 31. The Company does not discount loss and loss adjustment expense reserves. In establishing our reserves for loss and loss adjustment expenses, we review the results of analyses using individual case-base valuations and statistical and actuarial methods that utilize historical loss data from our more than 40 years of underwriting workers’ compensation insurance. The actuarial analysis of our historical data provides the factors we use in estimating our loss reserves. These factors are primarily measures over time of the number of claims paid and reported, average paid and incurred claim amounts, claim closure rates and claim payment patterns. In evaluating the results of our analyses, management also uses substantial judgment in considering other factors that are not considered in these actuarial analyses, including changes in business mix, claims management, regulatory issues, medical trends, employment and wage patterns, insurance policy coverage interpretations, judicial determinations and other subjective factors. Due to the inherent uncertainty associated with these estimates, and the cost of incurred but unreported claims, our actual liabilities may vary significantly from our original estimates. Although considerable variability is inherent in these estimates, management believes that the reserves for loss and loss adjustment expenses are adequate. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Subrogation recoverables, as well as deductible recoverables from policyholders, are estimated using individual case-basis valuations and aggregate estimates. Deductibles that are recoverable from policyholders and other recoverables from state funds decrease the liability for loss and loss adjustment expenses. The Company funds its obligations under certain settled claims where the payment pattern and ultimate cost are fixed and determinable on an individual claim basis through the purchase of annuities. These annuities are purchased from unaffiliated carriers and name the claimant as payee. The cost of purchasing the annuity is recorded as paid loss and loss adjustment expenses. To the extent the annuity funds estimated future claims, reserves for loss and loss adjustment expense are reduced. Premium Revenue Premiums on workers’ compensation insurance are based on actual payroll costs or production during the policy term and are normally billed monthly in arrears or annually. However, the Company generally requires a deposit at the inception of a policy. Premium revenue is earned on a pro rata basis over periods covered by the policies. The reserve for unearned premiums on these policies is computed on a daily pro rata basis. The Company estimates the annual premiums to be paid by its policyholders when the Company issues the policies and records those amounts on the balance sheet as premiums receivable. The Company conducts premium audits on all of its voluntary business policyholders annually, upon the expiration of each policy, including when the policy is renewed. The purpose of these audits is to verify that policyholders have accurately reported their payroll expenses and employee job classifications, and therefore have paid the Company the premium required under the terms of the policies. The difference between the estimated premium and the ultimate premium is referred to as “earned but unbilled” (EBUB) premium. EBUB premium can be higher or lower than the estimated premium. EBUB premium is subject to significant variability and can either increase or decrease earned premium based upon several factors, including changes in premium growth, industry mix and economic conditions. Due to the timing of audits and other adjustments, ultimate premium earned is generally not determined for several months after the expiration of the policy. The Company estimates EBUB premiums on a quarterly basis using historical data and applying various assumptions based on the current market and economic conditions, and records an adjustment to premium, related losses, and expenses as warranted. Reinsurance Reinsurance premiums, losses and allocated loss adjustment expenses are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Amounts recoverable from reinsurers include balances currently owed to the Company for losses and allocated loss adjustment expenses that have been paid to policyholders, amounts that are currently reserved for and will be recoverable once the related expense has been paid and experience-rated commissions recoverable upon commutation. Upon management’s determination that an amount due from a reinsurer is uncollectible due to the reinsurer’s insolvency or other matters, the amount is written off. Ceding commissions are earned from certain reinsurance companies and are intended to reimburse the Company for policy acquisition costs related to those premiums ceded to the reinsurers. Ceding commission income is recognized over the effective period of the related insurance policies in proportion to premium revenue earned and is reflected as a reduction in underwriting and certain other operating costs. Experience-rated commissions are earned from certain reinsurance companies based on the financial results of the applicable risks ceded to the reinsurers. These commission revenues on reinsurance contracts are recognized during the related reinsurance treaty period and are based on the same assumptions used for recording loss and allocated loss adjustment expenses. These commissions are reflected as a reduction in underwriting and certain other operating costs and are adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Experience-rated commissions decreased underwriting and certain other operating costs by $0.7 million in 2025, $1.0 million in 2024 and $1.7 million in 2023. In December 2025, the Company commuted reinsurance agreements with multiple reinsurers covering a portion of accident year 2023. As a result of the commutation, we recorded pre-tax income of approximately $0.8 million. In December 2024, the Company commuted reinsurance agreements with Hannover Re and Tokio Millennium Re covering portions of accident years 2012-2014. The Company received a $6.3 million payment effectuated solely through offset against the balance of the funds withheld and recoverable from reinsurers' accounts under the reinsurance agreements in exchange for releasing Hannover Re and Tokio Millennium Re from their reinsurance obligations under the commuted agreements. Hannover Re and Tokio Millennium Re remain obligated to the subsidiaries of the Company under other reinsurance agreements. As a result of the commutation, we recorded a pre-tax loss of approximately $1.5 million. In December 2024, the Company commuted reinsurance agreements with Hannover Re and Allianz Risk Transfer covering portions of accident years 2014-2016. The Company received a $9.8 million payment effectuated solely through offset against the balance of the funds withheld and recoverable from reinsurers' accounts under the reinsurance agreements in exchange for releasing Hannover Re and Allianz Risk Transfer from their reinsurance obligations under the commuted agreements. Hannover Re and Allianz Risk Transfer remain obligated to the subsidiaries of the Company under other reinsurance agreements. The effect on the Company's net income as a result of the commutation was immaterial. Fee and Other Income The Company recognizes income related to commissions earned by AGAI as the related services are performed. Advertising All advertising expenditures incurred by the Company are charged to expense in the period to which they relate and are included in underwriting and certain other operating costs in the consolidated statements of income. Total advertising expenses incurred were $0.3 million in 2025, and $0.3 in both 2024 and 2023. Income Taxes The Company accounts for income taxes using the liability method. The provision for income taxes has two components, amounts currently payable or receivable and deferred amounts. Deferred income tax assets and liabilities are recognized for the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company considers deferred tax assets to be recoverable if it is probable that the related tax losses can be offset by future taxable income. The Company includes reversal of existing temporary differences, tax planning strategies available and future operating income in this assessment. To the extent the deferred tax assets exceed the amount expected to be recovered in future years, the Company records a valuation allowance for the amount determined unrecoverable. Insurance-Related Assessments Insurance-related assessments are accrued in the period in which they have been incurred. The Company is subject to a variety of assessments related to insurance commerce, including those by state guaranty funds and workers’ compensation second-injury funds. State guaranty fund assessments are used by state insurance oversight agencies to cover losses of policyholders of insolvent or rehabilitated insurance companies and for the operating expenses of such agencies. Assessments based on premiums are generally paid one year after the calendar year in which the premium is written, while assessments based on losses are generally paid within one year of the calendar year in which the loss is paid. Policyholder Dividends The Company writes certain policies for which the policyholder may participate in favorable claims experience through a dividend. An estimated provision for workers’ compensation policyholders’ dividends is accrued as the related premiums are earned. Dividends do not become a fixed liability unless and until declared by the respective boards of directors of AMERISAFE’s insurance subsidiaries. The dividend to which a policyholder may be entitled is set forth in the policy and is related to the amount of losses sustained under the policy. Dividends are calculated after the policy expiration. The Company is able to estimate the policyholder dividend liability because the Company has information regarding the underlying loss experience of the policies written with dividend provisions and can estimate future dividend payments from the policy terms. Earnings Per Share The Company computes earnings per share (EPS) in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options or warrants were exercised or restricted stock becomes vested. Share-Based Compensation The Company recognizes the impact of its share-based compensation in accordance with FASB ASC Topic 718, Compensation-Stock Compensation. All share-based grants are recognized as compensation expense over the vesting period. The target value of long-term incentive performance awards are recognized as compensation over the performance period. |
Investments |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | 2. Investments
Short-term investments held at December 31, 2025 included $14.2 million of corporate bonds. Short-term investments held at December 31, 2024 included $9.3 million of corporate bonds.
The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2025 are summarized as follows:
The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2025 are summarized as follows:
The cost, gross unrealized gains and losses, and the fair value of equity securities at December 31, 2025 are summarized as follows:
The amortized cost, allowance for credit losses, carrying amount, gross unrealized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2024 are summarized as follows:
The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2024 are summarized as follows:
The cost, gross unrealized gains and losses, and fair value of equity securities at December 31, 2024 are summarized as follows:
A summary of the carrying amounts and fair value of investments in fixed maturity securities classified as held-to-maturity, by contractual maturity, is as follows:
A summary of the amortized cost and fair value of investments in fixed maturity securities classified as available-for-sale, by contractual maturity, is as follows:
Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties. At December 31, 2025, there were $23.6 million of held-to-maturity and $2.1 million of available-for-sale investments on deposit with regulatory agencies of states in which the Company does business.
A summary of the Company’s realized gains and losses on sales, calls or redemptions of investments for 2025, 2024 and 2023 is as follows:
Major categories of the Company’s net investment income are summarized as follows:
The following table summarizes the fair value and gross unrealized losses on fixed maturity securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position:
At December 31, 2025, the Company held 144 individual fixed maturity securities classified as available-for-sale that were in an unrealized loss position, of which 118 were in a continuous unrealized loss position for longer than 12 months. The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the year ended December 31, 2025.
The Company has established an allowance for credit losses on 269 held-to-maturity securities totaling $0.1 million as of December 31, 2025. The majority of those securities were issued by states and political subdivisions and corporate bonds at 259 and 9, respectively. The Company has no allowance for credit losses on investments classified as available-for-sale as of December 31, 2025 and 2024. The credit rating used for held-to-maturity fixed income securities is the rating for each security as published by Moody’s, Standard and Poor’s, and Fitch to determine the probability of default. If there are three ratings, the median rating is used. If there are only two ratings, the lower rating is used. If there is one rating, that rating is used. For corporate fixed income securities (given a rating), the probability of default comes from Moody’s annual study of corporate bond defaults published each February. The maximum maturity using the default rate is 20 years (any maturity greater than 20 years will use the 20-year rate). For municipal fixed income securities (given a rating), the probability of default comes from Moody’s annual study of municipal bond defaults published annually. The calculation of the credit loss allowance takes the amortized cost of the fixed income security and assumes default and recovery based on the average recovery rates from the Moody’s default studies. The amortized cost of the security plus any accrued interest, minus the amount recovered, is the estimated full amount the Company could lose in a default scenario. Then this amount is multiplied by the probability of default to determine the allowance for credit loss. The lower the security is rated, the higher likelihood of default, and therefore a higher allowance for credit loss. The longer to the maturity date of a security, the higher the default risk. The table below presents the amortized cost of held-to-maturity securities aggregated by credit quality indicator as of December 31, 2025.
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Premiums Receivable |
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| Insurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premiums Receivable | 3. Premiums Receivable Premiums receivable consist primarily of premium-related balances due from policyholders. The balance is shown net of the allowance for credit losses. The components of premiums receivable are shown below:
The following table summarizes the activity in the allowance for credit losses on premiums receivable:
Included in premiums receivable at December 31, 2025, 2024 and 2023 is the Company’s estimate for EBUB premium of $17.6 million, $13.8 million and $9.9 million, respectively. |
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Deferred Policy Acquisition Costs |
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| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Policy Acquisition Costs | 4. Deferred Policy Acquisition Costs Deferred policy acquisition costs represent those costs that are incremental and directly related to the successful acquisition of new or the renewal of existing insurance policies. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance policy. We also defer a portion of employee total compensation costs directly related to time spent performing specific acquisition or renewal activities. These costs are deferred and expensed over the life of the related policies. Major categories of the Company’s deferred policy acquisition costs are summarized as follows:
The following table summarizes the activity in the deferred policy acquisition costs:
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Property and Equipment |
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment | 5. Property and Equipment Property and equipment consist of the following:
Accumulated depreciation and amortization includes $0.4 million that is related to equipment held under finance leases at both December 31, 2025 and 2024, and is included in the underwriting and certain other operating costs line item on the income statement. The lease liabilities related to these properties are included in accounts payable and other liabilities.
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Reinsurance |
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| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance | 6. Reinsurance The Company cedes certain premiums and losses to various reinsurers under excess-of-loss treaties. These reinsurance arrangements provide for greater diversification of business, allow management to control exposure to potential losses arising from large risks, and provide additional capacity for growth. Ceded reinsurance contracts do not relieve the Company from its obligations to policyholders. The Company remains liable to its policyholders for the portion reinsured to the extent that any reinsurer does not meet the obligations assumed under the reinsurance agreements. To minimize its exposure to significant losses from reinsurer insolvencies, the Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities, or economic characteristics of the reinsurers on a continual basis. The effect of reinsurance on premiums written and earned in 2025, 2024 and 2023 was as follows:
The amounts recoverable from reinsurers consist of the following:
Amounts recoverable from reinsurers consist of ceded case reserves, ceded incurred but not reported (IBNR) reserves, and paid losses recoverable. Ceded case reserves and ceded IBNR reserves represent the portion of gross loss and loss adjustment expense liabilities that are recoverable under reinsurance agreements, but are not yet due from reinsurers. Paid losses recoverable are receivables currently due from reinsurers for ceded paid losses. The Company considers paid losses recoverable outstanding for more than 90 days to be past due. At December 31, 2025, there were no paid losses recoverable past due.
The Company received reinsurance recoveries of $1.8 million in 2025, $0.3 million in 2024 and $16.0 million in 2023.
The Company generally secures large reinsurance recoverable balances with various forms of collateral, including funds withheld accounts, irrevocable letters of credit and secured trusts. At December 31, 2025, reinsurance recoverables from reinsurers that exceeded 1.5% of statutory surplus of the Company’s insurance subsidiaries are shown below.
(1) Current participant in our 2026 reinsurance program.
The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the years ended December 31, 2025 and 2024.
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Income Taxes |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | 7. Income Taxes The Company’s deferred income tax assets and liabilities are as follows:
The components of consolidated income tax expense (benefit) are as follows:
As of December 31, 2025, 2024 and 2023, the Company had no valuation allowance against its deferred income tax assets and liabilities. The realization of this asset is dependent upon the Company's ability to generate sufficient taxable income in future periods. Based on historical results and the prospects for future operations, management anticipates that it is more likely than not that future taxable income will be sufficient for the realization of this asset. Income tax expense from operations is different from the amount computed by applying the U.S. federal income tax statutory rate of 21% to income before income taxes as follows:
(1) State taxes in Florida and Illinois make up more than 50% of the state income tax category.
The Company has no foreign operations. Federal and state income tax payments, net of refunds, are as follows:
(1) Payments to Florida and Illinois make up greater than 50% of the total state income taxes paid, net of refunds received.
The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. There were no uncertain tax positions as of December 31, 2025, 2024 and 2023. The Inflation Reduction Act was enacted on August 16, 2022, and included a new Corporate Alternative Minimum Tax (CAMT). The Company has determined they do not expect to be liable for CAMT in 2025. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted, introducing multiple changes to the U.S. tax code. The OBBBA contains several changes impacting corporate taxpayers, including modifications to the limitations on deductions for charitable contributions and the re-establishment of accelerated depreciation on certain qualified depreciable assets. The new tax regulation set forth by the OBBBA did not have a significant impact on the Company’s financial statements. Tax years 2022 through 2025 are subject to examination by the federal and state taxing authorities. |
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Line of Credit |
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| Text Block [Abstract] | |
| Line of Credit | 8. Line of Credit
The Company has an agreement providing for a line of credit in the maximum amount of $20.0 million with Frost Bank. The agreement was renewed in . Under the agreement, advances may be made either in the form of loans or letters of credit. Borrowings under the agreement accrue at interest rates based upon prime rate or the one-month term SOFR rate. The line of credit is unsecured. No borrowings or letters of credit were outstanding under the line of credit arrangement at December 31, 2025 or 2024. Unless renewed, the agreement will expire in May 2026. |
Loss and Loss Adjustment Expenses |
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| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss and Loss Adjustment Expenses | 9. Loss and Loss Adjustment Expenses The following development tables provide the incurred and paid losses and allocated loss adjustment expenses, net of reinsurance, for workers’ compensation and general liability for accident years 2016 through 2025. The incurred but not reported (IBNR) losses and claims frequency is included for each accident year presented.
The average annual percentage payout of incurred losses by age, net of reinsurance, for workers’ compensation and general liability as of December 31, 2025 is summarized below. Since workers’ compensation has long payout periods, the table below shows less than 100% in the years disclosed. This is required supplementary information, which is unaudited.
The following table provides a reconciliation of the beginning and ending reserve balances, net of related amounts recoverable from reinsurers, for 2025, 2024 and 2023:
The final resolution of the estimated loss reserve liability may be different from that anticipated at the reporting date because of the inherent uncertainty in loss reserve estimates, including, but not limited to, the future settlement environment. Consequently, actual paid losses in the future may result in a significantly different amount than currently reserved, favorable or unfavorable.
The difference between currently estimated losses and losses estimated for a prior period at a prior valuation date is known as development. Development is unfavorable when the losses ultimately settle for more than they were reserved for or future estimates suggest that reserves should be increased on unresolved claims. Development is favorable when the losses ultimately settle for less than they were reserved for or future estimates suggest that reserves should be decreased on unresolved claims. Favorable or unfavorable development of loss reserves are reflected in our results of operations in the period the estimates are changed.
The foregoing reconciliation reflects favorable development of the net reserves at December 31, 2025, 2024 and 2023. The favorable development reduced loss and loss adjustment expenses incurred by $33.9 million in 2025, driven primarily by accident years 2014 through 2023. In 2024 and 2023, the Company recorded favorable development of $34.9 million and $41.4 million, respectively. The revisions to the Company’s reserves reflect new information gained by claims adjusters in the normal course of adjusting claims and is reflected in the financial statements when the information becomes available. It is typical for more serious claims to take several years or longer to settle and the Company continually revises estimates as more information about claimants’ medical conditions and potential disability becomes known and the claims get closer to being settled. Multiple factors can cause loss development both unfavorable and favorable. The favorable loss development we experienced across prior accident years was largely due to favorable case reserve development from closed claims and claims where the worker had reached maximum medical improvement. Reserves established for workers’ compensation insurance includes the exposure to occupational disease or accidents related to asbestos or environmental claims. The exposure to asbestos claims emanates from the direct sale of workers’ compensation insurance. These claims resulted from industry workers who were exposed to tremolite asbestos dust and electricians and carpenters who were exposed to products that contained asbestos. There has been no known exposure to asbestos claims arising from assumed business. The emergence of these claims is slow and highly unpredictable. The Company estimates full impact of the asbestos exposure by establishing full case basis reserves on all known losses. Reserves for losses incurred but not reported (IBNR) include a provision for development of reserves on reported losses. Reserves are established for loss adjustment expenses (LAE) associated with these case and IBNR loss reserves. The following table details our exposures to various asbestos related claims:
The Company has historically written general liability coverages that are reported in other liability lines of business. These coverages may be associated with the property and casualty industry’s exposure to environmental claims. However, the Company has not been notified by any insured for which exposure exists due to these types of claims. Company management believes potential exposure to environmental claims to be remote. Therefore, the Company has no loss or loss adjustment expense reserves for such liabilities.
The anticipated effect of inflation is implicitly considered when estimating liabilities for loss and loss adjustment expenses. In establishing our reserves for loss and loss adjustment expenses, we review the results of analyses using individual case-base valuations and statistical and actuarial methods that utilize historical loss data from our more than 40 years of underwriting workers’ compensation insurance. The actuarial analysis of our historical data provides some of the factors we use in estimating our loss reserves. These factors are primarily measures over time of the number of claims paid and reported, average paid and incurred claim amounts, claim closure rates and claim payment patterns. In evaluating the results of our analyses, management also uses substantial judgment in considering other factors that are not considered in these actuarial analyses, including changes in business mix, claims management, regulatory issues, medical trends, employment and wage patterns, insurance policy coverage interpretations, judicial determinations and other subjective factors. Due to the inherent uncertainty associated with these estimates, and the cost of incurred but unreported claims, our actual liabilities may vary significantly from our original estimates. These anticipated trends are monitored based on actual development and are modified if necessary. |
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Statutory Accounting and Regulatory Requirements |
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| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Statutory Accounting and Regulatory Requirements | 10. Statutory Accounting and Regulatory Requirements
The Company’s insurance subsidiaries file financial statements prepared in accordance with statutory accounting principles prescribed or permitted by the insurance regulatory authorities of the states in which the subsidiaries are domiciled. Statutory-basis shareholders’ capital and surplus at December 31, 2025, 2024 and 2023 of the directly owned insurance subsidiary, AIIC, and the combined statutory-basis net income and realized investment gains for all AMERISAFE’s insurance subsidiaries for the three years in the period ended December 31, 2025, were as follows:
Property and casualty insurance companies are subject to certain risk-based capital requirements (RBC) specified by the National Association of Insurance Commissioners. Under these requirements, a target minimum amount of capital and surplus maintained by a property/casualty insurance company is determined based on the various risk factors related to it. At December 31, 2025, the capital and surplus of AIIC and its subsidiaries exceeded the minimum RBC requirements.
Pursuant to regulatory requirements, AIIC cannot pay dividends to the Company in excess of the greater of 10% of statutory surplus, or statutory net income, excluding realized investment gains, for the preceding 12-month period, without the prior approval of the Nebraska Director of Insurance. However, for purposes of this dividend calculation, net income from the previous two calendar years may be carried forward to the extent that it has not already been paid out as dividends. AIIC paid $62.7 million in dividends to the Company in 2025, $71.0 million in 2024 and $56.0 million in 2023. Based upon the dividend limitation described above, AIIC could pay to the Company dividends of up to $40.1 million in 2026 without seeking regulatory approval. |
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Capital Stock |
12 Months Ended |
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Dec. 31, 2025 | |
| Equity [Abstract] | |
| Capital Stock | 11. Capital Stock Common Stock
The Company is authorized to issue 50,000,000 shares of common stock, par value $0.01 per share. At December 31, 2025, there were 20,769,021 shares of common stock issued and 18,794,881 shares outstanding. Preferred Stock
The Company is authorized to issue 10,000,000 shares of preferred stock, par value $0.01 per share. At December 31, 2025, there were no shares of preferred stock outstanding. |
Equity Based Compensation |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Based Compensation | 12. Equity Based Compensation 2012 Equity and Incentive Compensation Plan In 2012, the Company’s shareholders approved the AMERISAFE 2012 Equity and Incentive Compensation Plan (the 2012 Incentive Plan). The 2012 Incentive Plan is administered by the Compensation Committee of the Board and is designed to attract, retain and motivate non-employee directors, officers, key employees and consultants by providing incentives for superior performance. The 2012 Incentive Plan authorizes the grant of equity-based compensation in the form of option rights, appreciation rights, restricted shares, restricted stock units, cash incentive awards, performance shares and units, and other types of awards. In connection with the approval of the 2022 Equity and Incentive Compensation Plan (the 2022 Incentive Plan) by the Company’s shareholders, no further grants other than performance based grants awarded prior to the 2022 Incentive Plan will be made under the 2012 Incentive Plan. All grants made under the 2012 Incentive Plan will continue in effect, subject to the terms and conditions of the 2012 Incentive Plan. In 2025, 19,737 shares of common stock were issued to executive officers pursuant to vested performance awards under the 2012 Incentive Plan. In 2024, 12,993 shares of common stock were issued to executive officers pursuant to vested performance awards under the 2012 Incentive Plan. In 2023, 18,561 shares of common stock were issued to executive officers pursuant to vested performance awards under the 2012 Incentive Plan. The following table summarizes information about the common and restricted stock activity under the 2012 Incentive Plan:
The Company recognized compensation expense of $10,000 and $79,000 in 2025 and 2024, respectively, and a forfeiture benefit of $43,000 in 2023 related to share-based grants. The Company recognized a forfeiture benefit of $13,000 in 2025, compensation expense of $712,000 in 2024, and a forfeiture benefit of $223,000 in 2023 related to long-term incentive performance awards under the 2012 Incentive Plan. The long-term incentive performance award is a liability award. 2022 Equity and Incentive Compensation Plan In 2022, the Company’s shareholders approved the AMERISAFE 2022 Equity and Incentive Compensation Plan (the 2022 Incentive Plan). The 2022 Incentive Plan is administered by the Compensation Committee of the Board and is designed to attract, retain and motivate non-employee directors, officers, key employees and consultants by providing incentives for superior performance. The 2022 Incentive Plan authorizes the grant of equity-based compensation in the form of option rights, appreciation rights, restricted shares, restricted stock units, cash incentive awards, performance shares and units, and other types of awards. A maximum of 500,000 shares of common stock may be issued or transferred under the 2022 Incentive Plan. In 2025, 11,452 shares of restricted stock and 11,177 restricted stock units were granted under the 2022 Incentive Plan, while 18,922 restricted stock units were forfeited. The restricted stock and restricted stock units will vest through 2028. At December 31, 2025, there were 437,508 shares of common stock available for future awards under the 2022 Incentive Plan. The following table summarizes information about the restricted stock activity under the 2022 Incentive Plan:
The following table summarizes information about the restricted stock unit activity under the 2022 Incentive Plan:
The Company recognized compensation expense of $921,000, $832,000 and $559,000 in 2025, 2024, and 2023, respectively, related to share-based grants under the 2022 Incentive Plan. The Company recognized compensation expense of $1,761,000, $789,000, and $780,000 in 2025, 2024, and 2023, respectively, related to long-term incentive performance awards under the 2022 Incentive Plan. The long-term incentive performance award is a liability award. Non-Employee Director Restricted Stock Plan The AMERISAFE Non-Employee Director Restricted Stock Plan (the Restricted Stock Plan) is administered by the Compensation Committee of the Board and provides for the automatic grant of restricted stock awards to non-employee directors of the Company. Awards to non-employee directors are generally subject to terms including non-transferability and, forfeiture of unvested shares upon termination of service by a director; provided, however, that unvested shares shall immediately vest upon the death or total disability of a director, and upon a change of control of the Company. The maximum number of shares of common stock that may be issued pursuant to restricted stock awards under the Restricted Stock Plan is 113,668 shares, subject to the authority of the Board to adjust this amount in the event of a merger, consolidation, reorganization, stock split, combination of shares, recapitalization or similar transaction affecting the common stock. At December 31, 2025, there were 59,512 shares of common stock available for future awards under the Restricted Stock Plan. Under the Restricted Stock Plan, each non-employee director is automatically granted a restricted stock award for a number of shares equal to Board approved equity target value divided by the closing price of the Company’s common stock on the date of the annual meeting of shareholders at which the non-employee director is elected or is continuing as a member of the Board. The equity target value may not exceed $200,000 without shareholder approval and was $75,000 in 2025. Each restricted stock award vests on the date of the next annual meeting of shareholders following the date of grant, subject to the continued service of the non-employee director.
As of December 31, 2025, there were no shares of restricted stock outstanding under the Non-Employee Director Restricted Stock Plan.
The following table summarizes information about the restricted stock activity under the Non-Employee Director Restricted Stock Plan:
The Company recognized compensation expense of $227,000, $527,000, and $484,000 in 2025, 2024, and 2023, respectively, related to the Non-Employee Director Restricted Stock Plan. |
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| Earnings Per Share | 13. Earnings Per Share The Company computes EPS in accordance with ASC Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options were exercised or restricted stock becomes vested.
The calculation of basic and diluted EPS for the years ended December 31, 2025, 2024 and 2023 are presented below.
The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation.
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| Comprehensive Income and Accumulated Other Comprehensive Loss | 14. Comprehensive Income and Accumulated Other Comprehensive Loss Comprehensive income includes net income plus unrealized gains (losses) on our available-for-sale investment securities, net of tax. In reporting comprehensive income on a net basis in the statements of comprehensive income, we used a 21% tax rate. The difference between net income as reported and comprehensive income was due primarily to changes in unrealized gains and losses, net of tax, on available-for-sale debt securities. The following table illustrates the changes in the balance of each component of accumulated other comprehensive loss for each period presented in the financial statements.
The sale or credit loss allowance adjustment of an available-for-sale security results in amounts being reclassified from accumulated other comprehensive loss to current period net income. The effects of reclassifications out of accumulated other comprehensive loss by the respective line items of net income are presented in the following table.
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Employee Benefit Plan |
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Dec. 31, 2025 | |
| Retirement Benefits [Abstract] | |
| Employee Benefit Plan | 15. Employee Benefit Plan
The Company’s is available to all employees. The Company matches 50% of employee contributions up to 6% of compensation for participating employees, subject to certain limitations. Employees are fully vested in employer contributions to this plan after five years. Company contributions to this plan were $0.8 million in 2025, and $0.7 million in both 2024 and 2023. |
Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | 16. Commitments and Contingencies The Company is a party to various legal actions arising principally from claims made under insurance policies and contracts. Those actions are considered by the Company in estimating reserves for loss and loss adjustment expenses. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operations. The Company provides workers’ compensation insurance in several states that maintain second-injury funds. Incurred losses on qualifying claims that exceed certain amounts may be recovered from these state funds. There is no assurance that the applicable states will continue to provide funding under these programs. The Company manages risk on certain long-duration claims by settling these claims through the purchase of annuities from unaffiliated carriers. In the event these carriers are unable to meet their obligations under these contracts, the Company could be liable to the claimants. The following table summarizes the fair value of the annuities at December 31, 2025, that the Company has purchased to satisfy its obligations.
Substantially all of the annuities are issued or guaranteed by life insurance companies that have an A.M. Best Company rating of “A” (Excellent) or better.
The Company has operating and finance leases for office space and equipment. Our leases have remaining lease terms of two months to 60 months, some of which include options to the leases for up to five years.
The components of lease expense were as follows:
Supplemental cash flow information related to leases was as follows:
Right-of-use assets obtained in the exchange for the lease obligations were as follows:
Supplemental balance sheet information related to leases was as follows:
The following is a maturity analysis of the annual undiscounted cash flows of the operating and finance lease liabilities as of December 31, 2025:
Rental expense was $0.1 million in each of 2025, 2024, and 2023. |
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Concentration of Operations |
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| Concentration Of Operations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Concentration of Operations | 17. Concentration of Operations The Company derives its premium revenues from its operations in the workers’ compensation insurance line of business.
Net premiums earned during 2025, 2024 and 2023 for the top ten states in 2025 and all others are shown below:
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Fair Values of Financial Instruments |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Values of Financial Instruments | 18. Fair Values of Financial Instruments The Company determines fair value amounts for financial instruments using available third-party market information. When such information is not available, the Company determines the fair value amounts using appropriate valuation methodologies. Nonfinancial instruments such as real estate, property and equipment, deferred policy acquisition costs, deferred income taxes and loss and loss adjustment expense reserves are excluded from the fair value disclosure. Cash and Cash Equivalents—The carrying amounts reported in the accompanying consolidated balance sheets for these financial instruments approximate their fair values. Investments—The Company’s fixed maturity securities are priced by an independent pricing service. The prices provided by the independent pricing service are estimated based on observable market data in active markets utilizing pricing models and processes, which may include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers, sector groupings, matrix pricing and reference data. The Company reviews the prices provided by pricing services for reasonableness and compares them to prices provided by the Company’s custodian which uses different pricing services. Short-Term Investments—The carrying amounts reported in the accompanying consolidated balance sheets for these financial instruments approximate their fair value. The following table summarizes the carrying or reported values and corresponding fair values for financial instruments:
The Company carries available-for-sale securities and equity securities at fair value in our consolidated financial statements and determines fair value measurements and disclosure in accordance with FASB ASC Topic 820, Fair Value Measurements and Disclosures. The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard defines fair value, describes three levels of inputs that may be used to measure fair value, and expands disclosures about fair value measurements. Fair value is defined in ASC Topic 820 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is the price to sell an asset or transfer a liability and, therefore, represents an exit price, not an entry price. Fair value is the exit price in the principal market (or, if lacking a principal market, the most advantageous market) in which the reporting entity would transact. Fair value is a market-based measurement, not an entity-specific measurement, and, as such, is determined based on the assumptions that market participants would use in pricing the asset or liability. The exit price objective of a fair value measurement applies regardless of the reporting entity’s intent and/or ability to sell the asset or transfer the liability at the measurement date. ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present value amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset, also known as current replacement cost. Valuation techniques used to measure fair value are to be consistently applied. In ASC Topic 820, inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable: • Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. • Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Valuation techniques used to measure fair value are intended to maximize the use of observable inputs and minimize the use of unobservable inputs. ASC Topic 820 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data. • Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs are to be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. The fair values of the Company’s investments are based upon prices provided by an independent pricing service. The Company has reviewed these prices for reasonableness and has not adjusted any prices received from the independent provider. Securities reported at fair value utilizing Level 1 inputs represent assets whose fair value is determined based upon observable unadjusted quoted market prices for identical assets in active markets. Level 2 securities represent assets whose fair value is determined using observable market information such as previous day trade prices, quotes from less active markets or quoted prices of securities with similar characteristics. There were no transfers between Level 1 and Level 2 during the year ended December 31, 2025. Assets measured at fair value on a recurring basis as of December 31, 2025 and 2024 were as follows:
Assets measured at amortized cost net of allowance for credit losses as of December 31, 2025 and 2024 were as follows:
At December 31, 2025 and 2024, the Company did not hold any securities measured at fair value on a nonrecurring basis due to expected credit losses. |
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Segment Reporting |
12 Months Ended |
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Dec. 31, 2025 | |
| Segment Reporting [Abstract] | |
| Segment Reporting | 19. Segment Reporting The Company operates as a reportable segment, Insurance Operations, through its wholly-owned subsidiaries. Profits, losses and assets are evaluated on a consolidated basis. We are a specialty provider of workers’ compensation insurance focused on small to mid-sized employers engaged in high hazard industries. The Insurance Operations segment derives premium revenues from the sales of workers’ compensation insurance through independent agencies, including retail and wholesale brokers and agents. The accounting policies of the Insurance Operations are the same as those described in the significant accounting policies. The Company’s Chief Operating Decision Maker (CODM) is the . As the Company's CODM, the CEO directs and controls the Company's operations and gives strategic guidance and direction to ensure the Company achieves its mission and objectives. The CODM evaluates the performance of and allocates resources for the Insurance Operations segment based on the operating results presented on the consolidated income statement, balance sheet and cash flow statement. Two of the key financial measures used to evaluate our performance are return on average equity and growth in book value per share adjusted for dividends paid to shareholders and share repurchases. We calculate return on average equity by dividing annual net income by the average of annual shareholders’ equity. We calculate book value per share by dividing ending shareholders’ equity by the number of common shares outstanding. The measure of segment assets is reported on the balance sheet as total consolidated assets. The Company does not have intra-entity sales or asset transfers. The Company is a monoline insurance company operating solely within the U.S. and does not have revenue from transactions with a single policyholder accounting for 10% or more of its revenues. |
Capital Management |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Text Block [Abstract] | |
| Capital Management | 20. Capital Management Share Repurchase Program—The Company’s board of directors initiated a share repurchase program in February 2010. In July 2025, our board of directors reauthorized this program with a limit of $25.0 million with no expiration date. As of December 31, 2025, $16.9 million was available for future repurchases under the share repurchase program. The repurchases may be effected from time to time pursuant to trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act. The share repurchase program does not obligate the Company to repurchase any shares of the Company's common stock and may be modified, increased, suspended or terminated at the discretion of our board of directors. The board of directors' determination will depend on a variety of factors, including, but not limited to, market conditions and applicable regulatory considerations. It is anticipated that future repurchases will be funded from available capital. During the year ended December 31, 2025, there were 291,289 shares repurchased under this program for $12.1 million, or an average price of $41.55, including commissions and excise tax. During the year ended December 31, 2024, there were 113,411 shares repurchased under this program for $5.1 million, or an average price of $45.17, including commissions and excise tax. During the year ended December 31, 2023, there were 46,741 shares repurchased under this program for $2.2 million, or an average price of $46.45, including commissions and excise tax. Dividends—In 2013, the Company’s board of directors initiated a regular quarterly cash dividend. During 2025, the Company’s board of directors declared a quarterly cash dividend of $0.39 per share compared to $0.37 per share in 2024, and $0.34 per share in 2023. The Company declared special cash dividends totaling $1.00, $3.00 and $3.50 per share in 2025, 2024 and 2023, respectively. |
Subsequent Events |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 21. Subsequent Events On February 24, 2026 the Company's board of directors declared a regular quarterly cash dividend of $0.41 per share payable on March 20, 2026 to shareholders of record as of March 13, 2026. The Company’s board of directors considers the declaration and payment of a regular cash dividend each calendar quarter, and any such declaration and payment of dividends is at the discretion of the Company’s board of directors. |
Schedule II. Condensed Financial Information of Registrant |
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| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule II. Condensed Financial Information of Registrant | Schedule II. Condensed Financial Information of Registrant AMERISAFE, INC. CONDENSED BALANCE SHEETS
Schedule II. Condensed Financial Information of Registrant – (Continued) AMERISAFE, INC. CONDENSED STATEMENTS OF INCOME
Schedule II. Condensed Financial Information of Registrant – (Continued) AMERISAFE, INC. CONDENSED STATEMENTS OF CASH FLOWS
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Schedule VI. Supplemental Information Concerning Property-Casualty Insurance Operations |
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| SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule VI. Supplemental Information Concerning Property-Casualty Insurance Operations | Schedule VI. Supplemental Information Concerning Property—Casualty Insurance Operations AMERISAFE, INC. AND SUBSIDIARIES
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Summary of Significant Accounting Policies (Policies) |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Accounting Policies [Abstract] | |
| Organization | Organization AMERISAFE, Inc. is an insurance holding company incorporated in the state of Texas. The accompanying consolidated financial statements include the accounts of AMERISAFE and its wholly-owned subsidiaries: American Interstate Insurance Company (AIIC) and its wholly-owned insurance subsidiaries, Silver Oak Casualty, Inc. (SOCI) and American Interstate Insurance Company of Texas (AIICTX); Amerisafe Risk Services, Inc. (RISK) and Amerisafe General Agency, Inc. (AGAI). AIIC and SOCI are property and casualty insurance companies organized under the laws of the state of Nebraska. AIICTX is a property and casualty insurance company organized under the laws of the state of Texas. RISK is a claims and safety service company currently servicing only affiliated insurance companies. AGAI is a general agent for the Company. AGAI sells insurance, which is underwritten by AIIC, SOCI and AIICTX, as well as by nonaffiliated insurance carriers. The terms “AMERISAFE,” the “Company,” “we,” “us” or “our” refer to AMERISAFE, Inc. and its consolidated subsidiaries, as the context requires. The Company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, services, manufacturing, and maritime. Assets and revenues of AIIC and its subsidiaries represent at least 95% of comparable consolidated amounts of the Company for each of 2025, 2024 and 2023. |
| Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
| Reclassifications | Reclassifications
Certain prior year amounts have been reclassified to conform with the current year presentation. |
| Adopted Accounting Guidance | Adopted Accounting Guidance
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Improvements to Income Tax Disclosures, that requires expanded income tax disclosures, including disaggregation of existing disclosures related to the tax rate reconciliation and income taxes paid. This update is effective for annual periods beginning after December 15, 2024. The Company adopted the new standard starting with this Annual Report on Form 10-K for the fiscal year ended December 31, 2025 using a retrospective approach. See Note 7, Income Taxes, for changes to the tax disclosure related to the new guidance. |
| Prospective Accounting Guidance | Prospective Accounting Guidance
In November 2024, the FASB issued ASU 2024-03, Expense Disaggregation Disclosures, which requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our Annual Report on Form 10-K for the year ended December 31, 2027, and interim reporting periods beginning in 2028. Early adoption of the new standard is permitted; however, we have not elected to early-adopt the standard. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.
In September 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal-Use Software. This standard update modernizes the capitalization criteria for internal-use software, eliminating references to project stages and instead requiring that projects meet completion probability criteria before costs can be capitalized. This guidance is effective beginning first quarter 2028, though early adoption is permitted, and can be applied using a prospective, retrospective, or modified transition approach. The Company is currently evaluating the impact of these amendments but does not anticipate that adoption will have a material impact on the Company’s results of operations or financial position. |
| Investments | Investments The Company has the ability and positive intent to hold certain investments until maturity. Therefore, fixed maturity securities classified as held-to-maturity are recorded at amortized cost net of the allowance for credit losses. Fixed maturity securities classified as available-for-sale are recorded at fair value. Temporary changes in the fair value of these securities are reported in shareholders’ equity as a component of other comprehensive income, net of deferred income taxes. Changes in the fair value of equity securities are recorded in net income. Investment income is recognized as it is earned. The discount or premium on fixed maturity securities is amortized using the “constant yield” method. Anticipated prepayments, where applicable, are considered when determining the amortization of premiums or discounts. Realized investment gains and losses are determined using the specific identification method. |
| Cash and Cash Equivalents | Cash and Cash Equivalents Cash equivalents include short-term money market funds with a maturity date, at the time of purchase, of 90 days or less. |
| Short-Term Investments | Short-Term Investments Short-term investments include municipal securities and corporate bonds with an original maturity date greater than 90 days but less than one year. |
| Premiums Receivable | Premiums Receivable Premiums receivable consist primarily of premium-related balances due from policyholders. The Company considers premiums receivable as past due based on the payment terms of the underlying policy. The balance is shown net of the allowance for credit losses. Receivables due from insureds are charged off when a determination has been made by management that a specific balance will not be collected. An estimate of amounts that are likely to be charged off is established as an allowance for credit losses as of the balance sheet date. The estimate is primarily comprised of specific balances that are considered probable to be charged off after all collection efforts have ceased, as well as historical trends and an analysis of the aging of the receivables. |
| Property and Equipment | Property and Equipment The Company’s property and equipment, including certain costs incurred to develop or obtain software for internal use, are stated at cost less accumulated depreciation. Depreciation is calculated primarily by the straight-line method over the estimated useful lives of the respective assets, generally 39 years for buildings and to seven years for all other fixed assets. |
| Deferred Policy Acquisition Costs | Deferred Policy Acquisition Costs The direct costs of successfully acquiring and renewing business are capitalized to the extent recoverable and are amortized over the effective period of the related insurance policies in proportion to premium revenue earned. These capitalized costs consist mainly of sales commissions, premium taxes and other underwriting costs. The Company evaluates deferred policy acquisition costs for recoverability by comparing the unearned premiums to the estimated total expected claim costs and related expenses, offset by anticipated investment income. The Company would reduce the deferred costs if the unearned premiums were less than expected claims and expenses after considering investment income, and report any adjustments in amortization of deferred policy acquisition costs. There were no adjustments necessary in 2025, 2024 or 2023. |
| Reserves for Loss and Loss Adjustment Expenses | Reserves for Loss and Loss Adjustment Expenses Reserves for loss and loss adjustment expenses represent the estimated ultimate cost of all reported and unreported losses incurred through December 31. The Company does not discount loss and loss adjustment expense reserves. In establishing our reserves for loss and loss adjustment expenses, we review the results of analyses using individual case-base valuations and statistical and actuarial methods that utilize historical loss data from our more than 40 years of underwriting workers’ compensation insurance. The actuarial analysis of our historical data provides the factors we use in estimating our loss reserves. These factors are primarily measures over time of the number of claims paid and reported, average paid and incurred claim amounts, claim closure rates and claim payment patterns. In evaluating the results of our analyses, management also uses substantial judgment in considering other factors that are not considered in these actuarial analyses, including changes in business mix, claims management, regulatory issues, medical trends, employment and wage patterns, insurance policy coverage interpretations, judicial determinations and other subjective factors. Due to the inherent uncertainty associated with these estimates, and the cost of incurred but unreported claims, our actual liabilities may vary significantly from our original estimates. Although considerable variability is inherent in these estimates, management believes that the reserves for loss and loss adjustment expenses are adequate. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Subrogation recoverables, as well as deductible recoverables from policyholders, are estimated using individual case-basis valuations and aggregate estimates. Deductibles that are recoverable from policyholders and other recoverables from state funds decrease the liability for loss and loss adjustment expenses. The Company funds its obligations under certain settled claims where the payment pattern and ultimate cost are fixed and determinable on an individual claim basis through the purchase of annuities. These annuities are purchased from unaffiliated carriers and name the claimant as payee. The cost of purchasing the annuity is recorded as paid loss and loss adjustment expenses. To the extent the annuity funds estimated future claims, reserves for loss and loss adjustment expense are reduced. |
| Premium Revenue | Premium Revenue Premiums on workers’ compensation insurance are based on actual payroll costs or production during the policy term and are normally billed monthly in arrears or annually. However, the Company generally requires a deposit at the inception of a policy. Premium revenue is earned on a pro rata basis over periods covered by the policies. The reserve for unearned premiums on these policies is computed on a daily pro rata basis. The Company estimates the annual premiums to be paid by its policyholders when the Company issues the policies and records those amounts on the balance sheet as premiums receivable. The Company conducts premium audits on all of its voluntary business policyholders annually, upon the expiration of each policy, including when the policy is renewed. The purpose of these audits is to verify that policyholders have accurately reported their payroll expenses and employee job classifications, and therefore have paid the Company the premium required under the terms of the policies. The difference between the estimated premium and the ultimate premium is referred to as “earned but unbilled” (EBUB) premium. EBUB premium can be higher or lower than the estimated premium. EBUB premium is subject to significant variability and can either increase or decrease earned premium based upon several factors, including changes in premium growth, industry mix and economic conditions. Due to the timing of audits and other adjustments, ultimate premium earned is generally not determined for several months after the expiration of the policy. The Company estimates EBUB premiums on a quarterly basis using historical data and applying various assumptions based on the current market and economic conditions, and records an adjustment to premium, related losses, and expenses as warranted. |
| Reinsurance | Reinsurance Reinsurance premiums, losses and allocated loss adjustment expenses are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Amounts recoverable from reinsurers include balances currently owed to the Company for losses and allocated loss adjustment expenses that have been paid to policyholders, amounts that are currently reserved for and will be recoverable once the related expense has been paid and experience-rated commissions recoverable upon commutation. Upon management’s determination that an amount due from a reinsurer is uncollectible due to the reinsurer’s insolvency or other matters, the amount is written off. Ceding commissions are earned from certain reinsurance companies and are intended to reimburse the Company for policy acquisition costs related to those premiums ceded to the reinsurers. Ceding commission income is recognized over the effective period of the related insurance policies in proportion to premium revenue earned and is reflected as a reduction in underwriting and certain other operating costs. Experience-rated commissions are earned from certain reinsurance companies based on the financial results of the applicable risks ceded to the reinsurers. These commission revenues on reinsurance contracts are recognized during the related reinsurance treaty period and are based on the same assumptions used for recording loss and allocated loss adjustment expenses. These commissions are reflected as a reduction in underwriting and certain other operating costs and are adjusted as necessary as experience develops or new information becomes known. Any such adjustments are included in income from current operations. Experience-rated commissions decreased underwriting and certain other operating costs by $0.7 million in 2025, $1.0 million in 2024 and $1.7 million in 2023. In December 2025, the Company commuted reinsurance agreements with multiple reinsurers covering a portion of accident year 2023. As a result of the commutation, we recorded pre-tax income of approximately $0.8 million. In December 2024, the Company commuted reinsurance agreements with Hannover Re and Tokio Millennium Re covering portions of accident years 2012-2014. The Company received a $6.3 million payment effectuated solely through offset against the balance of the funds withheld and recoverable from reinsurers' accounts under the reinsurance agreements in exchange for releasing Hannover Re and Tokio Millennium Re from their reinsurance obligations under the commuted agreements. Hannover Re and Tokio Millennium Re remain obligated to the subsidiaries of the Company under other reinsurance agreements. As a result of the commutation, we recorded a pre-tax loss of approximately $1.5 million. In December 2024, the Company commuted reinsurance agreements with Hannover Re and Allianz Risk Transfer covering portions of accident years 2014-2016. The Company received a $9.8 million payment effectuated solely through offset against the balance of the funds withheld and recoverable from reinsurers' accounts under the reinsurance agreements in exchange for releasing Hannover Re and Allianz Risk Transfer from their reinsurance obligations under the commuted agreements. Hannover Re and Allianz Risk Transfer remain obligated to the subsidiaries of the Company under other reinsurance agreements. The effect on the Company's net income as a result of the commutation was immaterial. |
| Fee and Other Income | Fee and Other Income The Company recognizes income related to commissions earned by AGAI as the related services are performed. |
| Advertising | Advertising All advertising expenditures incurred by the Company are charged to expense in the period to which they relate and are included in underwriting and certain other operating costs in the consolidated statements of income. Total advertising expenses incurred were $0.3 million in 2025, and $0.3 in both 2024 and 2023. |
| Income Taxes | Income Taxes The Company accounts for income taxes using the liability method. The provision for income taxes has two components, amounts currently payable or receivable and deferred amounts. Deferred income tax assets and liabilities are recognized for the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company considers deferred tax assets to be recoverable if it is probable that the related tax losses can be offset by future taxable income. The Company includes reversal of existing temporary differences, tax planning strategies available and future operating income in this assessment. To the extent the deferred tax assets exceed the amount expected to be recovered in future years, the Company records a valuation allowance for the amount determined unrecoverable. |
| Insurance-Related Assessments | Insurance-Related Assessments Insurance-related assessments are accrued in the period in which they have been incurred. The Company is subject to a variety of assessments related to insurance commerce, including those by state guaranty funds and workers’ compensation second-injury funds. State guaranty fund assessments are used by state insurance oversight agencies to cover losses of policyholders of insolvent or rehabilitated insurance companies and for the operating expenses of such agencies. Assessments based on premiums are generally paid one year after the calendar year in which the premium is written, while assessments based on losses are generally paid within one year of the calendar year in which the loss is paid. |
| Policyholder Dividends | Policyholder Dividends The Company writes certain policies for which the policyholder may participate in favorable claims experience through a dividend. An estimated provision for workers’ compensation policyholders’ dividends is accrued as the related premiums are earned. Dividends do not become a fixed liability unless and until declared by the respective boards of directors of AMERISAFE’s insurance subsidiaries. The dividend to which a policyholder may be entitled is set forth in the policy and is related to the amount of losses sustained under the policy. Dividends are calculated after the policy expiration. The Company is able to estimate the policyholder dividend liability because the Company has information regarding the underlying loss experience of the policies written with dividend provisions and can estimate future dividend payments from the policy terms. |
| Earnings Per Share | Earnings Per Share The Company computes earnings per share (EPS) in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share. Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period. The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options or warrants were exercised or restricted stock becomes vested. |
| Share-Based Compensation | Share-Based Compensation The Company recognizes the impact of its share-based compensation in accordance with FASB ASC Topic 718, Compensation-Stock Compensation. All share-based grants are recognized as compensation expense over the vesting period. The target value of long-term incentive performance awards are recognized as compensation over the performance period. |
Investments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gross Unrecognized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses, Carrying Amount and Fair Value of Investments Classified as Held-to-Maturity (Detail) | The amortized cost, allowance for credit losses, carrying amount, gross unrecognized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2025 are summarized as follows:
The amortized cost, allowance for credit losses, carrying amount, gross unrealized gains and losses, and the fair value of those investments classified as held-to-maturity at December 31, 2024 are summarized as follows:
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| Gross Unrealized Gains and Losses and Cost or Amortized Cost, Allowance for Credit Losses and Fair Value of Investments Classified as Available-for-sale | The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2025 are summarized as follows:
The amortized cost, gross unrealized gains and losses, fair value, and the allowance for credit losses of those investments classified as available-for-sale at December 31, 2024 are summarized as follows:
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| Gross Unrealized Gains and Losses and Cost of Equity | The cost, gross unrealized gains and losses, and the fair value of equity securities at December 31, 2025 are summarized as follows:
The cost, gross unrealized gains and losses, and fair value of equity securities at December 31, 2024 are summarized as follows:
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| A Summary of the Company's Realized Gains and Losses on Sales, Calls or Redemptions of Investments | A summary of the Company’s realized gains and losses on sales, calls or redemptions of investments for 2025, 2024 and 2023 is as follows:
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| Major Categories of the Company's Net Investment Income | Major categories of the Company’s net investment income are summarized as follows:
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| Investment Securities Continuous Unrealized Loss Position | The following table summarizes the fair value and gross unrealized losses on fixed maturity securities classified as available-for-sale, aggregated by major investment category and length of time that the individual securities have been in a continuous unrealized loss position:
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| Changes in Allowance for Credit Losses by Major Security Type of Investments Classified as Held-to-Maturity | The following table illustrates the changes in the allowance for credit losses by major security type of the investments classified as held-to-maturity for the year ended December 31, 2025.
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| Schedule of Amortized Cost Held-to-Maturity Securities Aggregated By Credit Quality Indicator | The table below presents the amortized cost of held-to-maturity securities aggregated by credit quality indicator as of December 31, 2025.
|
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| Held-to-Maturity Securities [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Carrying Amount, Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity | A summary of the carrying amounts and fair value of investments in fixed maturity securities classified as held-to-maturity, by contractual maturity, is as follows:
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| Available-for-Sale Securities [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Carrying Amount, Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, by Contractual Maturity | A summary of the amortized cost and fair value of investments in fixed maturity securities classified as available-for-sale, by contractual maturity, is as follows:
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Premiums Receivable (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Premiums Receivable | The components of premiums receivable are shown below:
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| Summary of Activity in Allowance for Credit Losses | The following table summarizes the activity in the allowance for credit losses on premiums receivable:
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Deferred Policy Acquisition Costs (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Major Categories of the Deferred Policy Acquisition Costs | Major categories of the Company’s deferred policy acquisition costs are summarized as follows:
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| Schedule of the Activity in the Deferred Policy Acquisition Costs | The following table summarizes the activity in the deferred policy acquisition costs:
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Property and Equipment (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Property and Equipment | Property and equipment consist of the following:
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Reinsurance (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of the Effect of Reinsurance on Premiums Written and Earned | The effect of reinsurance on premiums written and earned in 2025, 2024 and 2023 was as follows:
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| Schedule of the Amounts Recoverable from Reinsurers | The amounts recoverable from reinsurers consist of the following:
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| Schedule of Unsecured Reinsurance Recoverables from Reinsurers |
(1)
Current participant in our 2026 reinsurance program. |
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| Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers | The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the years ended December 31, 2025 and 2024.
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Company's Deferred Income Tax Assets and Liabilities | The Company’s deferred income tax assets and liabilities are as follows:
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| Components of Consolidated Income Tax Expense (Benefit) | The components of consolidated income tax expense (benefit) are as follows:
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| Income Tax Expense from Operations from the Amount Computed by Applying the U.S. Federal Income Tax Statutory Rate of 21% to Income Before Income Taxes | Income tax expense from operations is different from the amount computed by applying the U.S. federal income tax statutory rate of 21% to income before income taxes as follows:
(1)
State taxes in Florida and Illinois make up more than 50% of the state income tax category. |
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| Schedule of Federal and State Income Tax Payments, Net of Refunds | The Company has no foreign operations. Federal and state income tax payments, net of refunds, are as follows:
(1) Payments to Florida and Illinois make up greater than 50% of the total state income taxes paid, net of refunds received. |
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Loss and Loss Adjustment Expenses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Development Tables of Incurred and Paid Losses and Allocated Loss Adjustment Expenses Net of Reinsurance |
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| Summary of Average Annual Percentage Payout of Incurred Losses by Age Net of Reinsurance for Worker's Compensation and General Liability | The average annual percentage payout of incurred losses by age, net of reinsurance, for workers’ compensation and general liability as of December 31, 2025 is summarized below. Since workers’ compensation has long payout periods, the table below shows less than 100% in the years disclosed. This is required supplementary information, which is unaudited.
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| Reconciliation of Beginning and Ending Reserve Balances, Net of Related Amounts Recoverable from Reinsurers | The following table provides a reconciliation of the beginning and ending reserve balances, net of related amounts recoverable from reinsurers, for 2025, 2024 and 2023:
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| Summary Exposures to Various Asbestos Related Claims | The following table details our exposures to various asbestos related claims:
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Statutory Accounting and Regulatory Requirements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance Subsidiaries | Statutory-basis shareholders’ capital and surplus at December 31, 2025, 2024 and 2023 of the directly owned insurance subsidiary, AIIC, and the combined statutory-basis net income and realized investment gains for all AMERISAFE’s insurance subsidiaries for the three years in the period ended December 31, 2025, were as follows:
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Equity Based Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restricted Stock Activity | The following table summarizes information about the common and restricted stock activity under the 2012 Incentive Plan:
The following table summarizes information about the restricted stock activity under the 2022 Incentive Plan:
The following table summarizes information about the restricted stock unit activity under the 2022 Incentive Plan:
The following table summarizes information about the restricted stock activity under the Non-Employee Director Restricted Stock Plan:
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Earnings Per Share (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Calculation of Basic and Diluted Earnings Per Share | The calculation of basic and diluted EPS for the years ended December 31, 2025, 2024 and 2023 are presented below.
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| Reconciliation of Weighted Average Shares used for Basic and Diluted Earnings Per Share Calculation | The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation.
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Comprehensive Income and Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Accumulated Other Comprehensive Loss (AOCI) | The following table illustrates the changes in the balance of each component of accumulated other comprehensive loss for each period presented in the financial statements.
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| Reclassification Out of Accumulated Other Comprehensive Loss | The effects of reclassifications out of accumulated other comprehensive loss by the respective line items of net income are presented in the following table.
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| Other Comprehensive Income |
|
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Commitments and Contingencies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of Annuities | The following table summarizes the fair value of the annuities at December 31, 2025, that the Company has purchased to satisfy its obligations.
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| Components of Lease Expense | The components of lease expense were as follows:
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| Schedule of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows:
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| Schedule of Right-of-use Assets Obtained in Exchange for Lease Obligations | Right-of-use assets obtained in the exchange for the lease obligations were as follows:
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| Schedule of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows:
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| Schedule of Weighted Average Remaining Lease Term and Discount Rate |
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| Schedule of Maturity Analysis of Annual Undiscounted Cash Flows of Operating and Finance Lease Liabilities | The following is a maturity analysis of the annual undiscounted cash flows of the operating and finance lease liabilities as of December 31, 2025:
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Concentration of Operations (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Concentration Of Operations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Premiums Earned for the Top Ten States | Net premiums earned during 2025, 2024 and 2023 for the top ten states in 2025 and all others are shown below:
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Fair Values of Financial Instruments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Carrying or Reported Values and Corresponding Fair Values for Financial Instruments | The following table summarizes the carrying or reported values and corresponding fair values for financial instruments:
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| Schedule of Assets Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis as of December 31, 2025 and 2024 were as follows:
|
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| Schedule of Assets Measured at Amortized Cost Net of Allowance For Credit Losses | Assets measured at amortized cost net of allowance for credit losses as of December 31, 2025 and 2024 were as follows:
|
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Investments - Gross Unrealized Gains and Losses and Cost of Equity (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
| Equity securities, Cost | $ 31,165 | $ 36,020 |
| Equity securities, Gross Unrealized Gains | 26,328 | 22,609 |
| Equity securities, at fair value | 57,493 | 58,629 |
| Domestic Common Stock [Member] | ||
| Schedule Of Trading Securities And Other Trading Assets [Line Items] | ||
| Equity securities, Cost | 31,165 | 36,020 |
| Equity securities, Gross Unrealized Gains | 26,328 | 22,609 |
| Equity securities, at fair value | $ 57,493 | $ 58,629 |
Investments - Summary of Amortized Cost and Fair Value of Investments in Fixed Maturity Securities, Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Schedule Of Available For Sale Securities [Line Items] | ||
| Within one year, Amortized Cost | $ 41,029 | $ 23,944 |
| After one year through five years, Amortized Cost | 76,260 | 97,996 |
| After five years through ten years, Amortized Cost | 76,895 | 71,233 |
| After ten years, Amortized Cost | $ 118,986 | $ 121,257 |
| Investment, Type [Extensible Enumeration] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member] |
| Without single maturity date, Amortized Cost | $ 3,946 | $ 4,545 |
| Available-for-sale, Amortized Cost | 317,116 | 318,975 |
| Within one year, Fair Value | 40,939 | 23,806 |
| After one year through five years, Fair Value | 75,796 | 95,500 |
| After five years through ten years, Fair Value | 76,076 | 68,494 |
| After ten years, Fair Value | 116,586 | 115,891 |
| Without single maturity date, Fair value | 3,641 | 4,059 |
| Available-for-sale, Fair Value | $ 313,038 | $ 307,750 |
Investments - Major Categories of the Company's Net Investment Income (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Schedule Of Investment Income Reported Amounts By Category [Line Items] | |||
| Total gross investment income | $ 29,421 | $ 31,293 | $ 32,269 |
| Investment expenses | (2,428) | (2,081) | (930) |
| Net investment income | 26,993 | 29,212 | 31,339 |
| Fixed Maturity Securities Available for Sale [Member] | |||
| Schedule Of Investment Income Reported Amounts By Category [Line Items] | |||
| Total gross investment income | 25,980 | 26,341 | 26,357 |
| Equity Securities [Member] | |||
| Schedule Of Investment Income Reported Amounts By Category [Line Items] | |||
| Total gross investment income | 743 | 1,003 | 1,456 |
| Short-term Investments [Member] | |||
| Schedule Of Investment Income Reported Amounts By Category [Line Items] | |||
| Total gross investment income | $ 2,698 | $ 3,949 | $ 4,456 |
Premiums Receivable - Components of Premiums Receivable (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Premiums Receivable, Net [Abstract] | |||
| Premiums receivable | $ 165,116 | $ 146,897 | |
| Allowance for credit losses | (4,172) | (4,238) | $ (4,674) |
| Premiums receivable, net | $ 160,944 | $ 142,659 |
Premiums Receivable - Summary of Activity in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Premiums Receivable, Allowance for Doubtful Accounts [Roll Forward] | ||
| Balance, beginning of year | $ 4,238 | $ 4,674 |
| Provision for credit loss expense | 1,466 | 656 |
| Write-offs | (1,532) | (1,092) |
| Balance, end of year | $ 4,172 | $ 4,238 |
Premiums Receivable - Additional Information (Detail) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Premiums Receivable, Net [Abstract] | |||
| Earned but Unbilled | $ 17.6 | $ 13.8 | $ 9.9 |
Deferred Policy Acquisition Costs - Schedule of Major Categories of the Deferred Policy Acquisition Costs (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|---|
| Deferred Charges, Insurers [Abstract] | ||||
| Agents’ commissions | $ 14,733 | $ 13,466 | ||
| Premium taxes | 3,074 | 2,828 | ||
| Deferred underwriting expenses | 3,278 | 2,857 | ||
| Total deferred policy acquisition costs | $ 21,085 | $ 19,151 | $ 17,975 | $ 17,401 |
Deferred Policy Acquisition Costs - Schedule of Activity in the Deferred Policy Acquisition Costs (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward] | |||
| Balance, beginning of year | $ 19,151 | $ 17,975 | $ 17,401 |
| Policy acquisition costs deferred | 46,158 | 43,348 | 41,433 |
| Amortization expense during the year | (44,224) | (42,172) | (40,859) |
| Balance, end of year | $ 21,085 | $ 19,151 | $ 17,975 |
Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Property, Plant and Equipment [Line Items] | ||
| Property and equipment, Gross | $ 26,429 | $ 24,361 |
| Accumulated depreciation and amortization | (19,136) | (18,474) |
| Property and equipment, net | 7,293 | 5,887 |
| Land and Office Building [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Property and equipment, Gross | 10,063 | 9,039 |
| Furniture and Equipment [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Property and equipment, Gross | 7,076 | 6,202 |
| Software [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Property and equipment, Gross | 8,561 | 8,584 |
| Automobiles [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Property and equipment, Gross | 73 | 74 |
| Finance Lease Right-of-use Assets [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Property and equipment, Gross | $ 656 | $ 462 |
Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Property, Plant and Equipment [Line Items] | ||
| Accumulated depreciation | $ 19,136 | $ 18,474 |
| Equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Accumulated depreciation | $ 400 | $ 400 |
Reinsurance - Schedule of the Effect of Reinsurance on Premiums Written and Earned (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Premiums Written and Earned [Abstract] | |||
| Gross Written | $ 313,864 | $ 294,144 | $ 285,355 |
| Ceded Written | (17,230) | (18,164) | (16,621) |
| Net premiums Written | 296,634 | 275,980 | 268,734 |
| Gross Earned | 300,287 | 288,803 | 283,746 |
| Ceded Earned | (17,230) | (18,164) | (16,621) |
| Net premiums Earned | $ 283,057 | $ 270,639 | $ 267,125 |
Reinsurance - Schedule of the Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Unpaid losses recoverable: | ||
| Case basis | $ 63,355 | $ 73,421 |
| Incurred but not reported | 42,720 | 39,321 |
| Paid losses recoverable | 641 | 3,664 |
| Experience-rated commissions recoverable | 1,646 | 913 |
| Allowance for credit losses | (264) | (300) |
| Total reinsurance recoverables | $ 108,098 | $ 117,019 |
Reinsurance - Additional Information (Detail) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Insurance [Abstract] | |||
| Paid losses recoverable outstanding due date | 90 days | ||
| Received reinsurance recoveries | $ 1,800,000 | $ 300,000 | $ 16,000,000 |
| Paid losses recoverable past due | $ 0 | ||
| Unsecured reinsurance recoverable by reinsurer reporting threshold | 1.50% | ||
Reinsurance - Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Insurance [Abstract] | ||
| Balance, beginning of period | $ 300 | $ 360 |
| Provision for credit loss benefit | (36) | (60) |
| Balance, end of period | $ 264 | $ 300 |
Income Taxes - Schedule of Company's Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Deferred income tax assets: | ||
| Discounting of net unpaid loss and loss adjustment expenses | $ 13,744 | $ 14,552 |
| Unearned premiums | 6,794 | 6,257 |
| Accrued expenses and other | 2,057 | 2,145 |
| State income tax | 2,373 | 2,501 |
| Accrued policyholder dividends | 1,294 | 1,408 |
| Accrued insurance-related assessments | 1,598 | 1,557 |
| Total deferred tax assets | 27,860 | 28,420 |
| Deferred income tax liabilities: | ||
| Deferred policy acquisition costs | (5,167) | (4,737) |
| Net unrealized gain on securities available-for-sale | (4,674) | (2,389) |
| Property and equipment and other | (171) | (130) |
| Salvage and subrogation | (276) | (302) |
| Loss reserves adjustment | 0 | (1,414) |
| Total deferred income tax liabilities | (10,288) | (8,972) |
| Net deferred income taxes | $ 17,572 | $ 19,448 |
Income Taxes - Components of Consolidated Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Current: | |||
| Federal | $ 10,341 | $ 11,351 | $ 13,621 |
| State | 993 | 867 | 1,020 |
| Total Current | 11,334 | 12,218 | 14,641 |
| Deferred: | |||
| Federal | 244 | 1,408 | 655 |
| State | 128 | (6) | (27) |
| Total Deferred | 372 | 1,402 | 628 |
| Income tax expense, Total | $ 11,706 | $ 13,620 | $ 15,269 |
Income Taxes - Additional Information (Detail) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Valuation allowance | $ 0 | $ 0 | $ 0 |
| U.S. federal income tax statutory rate | 21.00% | 21.00% | 21.00% |
| Uncertain tax positions recognized | $ 0 | $ 0 | $ 0 |
Income Taxes - Income Tax Expense from Operations from the Amount Computed by Applying the U.S. Federal Income Tax Statutory Rate of 21% to Income Before Income Taxes (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Income tax computed at federal statutory tax rate, Amount | $ 12,359 | $ 14,502 | $ 16,249 |
| Tax Jurisdiction of Domicile [Extensible Enumeration] | country:US | country:US | country:US |
| State income tax, Amount | $ 912 | $ 679 | $ 779 |
| Tax-exempt interest, net, Amount | (1,908) | (1,945) | (1,997) |
| All other | 351 | 376 | 225 |
| Other | (8) | 8 | 13 |
| Income tax expense, Total | $ 11,706 | $ 13,620 | $ 15,269 |
| Income tax computed at federal statutory tax rate, Percentage | 21.00% | 21.00% | 21.00% |
| State income tax, Percentage | 1.50% | 1.00% | 1.00% |
| Tax-exempt interest, net, Percentage | (3.20%) | (2.80%) | (2.60%) |
| All other, Percentage | 0.60% | 0.50% | 0.30% |
| Other, Percentage | 0.00% | 0.00% | 0.00% |
| Income tax expense, Percentage Total | 19.90% | 19.70% | 19.70% |
Income Taxes - Schedule of Federal and State Income Tax Payments, Net of Refunds (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||
| Income taxes paid, net of refunds received, Federal | $ 11,250 | $ 11,750 | $ 13,950 |
| Income taxes paid, net of refunds received, State | 1,200 | 1,099 | 962 |
| Total income taxes paid | 12,450 | 12,849 | 14,912 |
| Income from continuing operations before income taxes | |||
| Domestic | 58,851 | 69,056 | 77,377 |
| Income tax expense from continuing operations | |||
| Federal | 10,585 | 12,759 | 14,276 |
| State | 1,121 | 861 | 993 |
| Income tax expense, Total | $ 11,706 | $ 13,620 | $ 15,269 |
Line of Credit - Additional Information (Detail) - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Line of Credit Facility [Line Items] | ||
| Maximum amount of line of credit | $ 20,000,000 | |
| Line of credit facility renewal date | Jul. 26, 2024 | |
| Outstanding borrowings or letters of credit | $ 0 | $ 0 |
Loss and Loss Adjustment Expenses - Development Tables of Incurred and Paid Losses and Allocated Loss Adjustment Expenses Net of Reinsurance (Detail) $ in Thousands |
12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
Claim
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
|
|
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 1,973,212 | |||||||||
| Total IBNR Plus Expected Development on Reported Claims | (18,647) | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | 1,566,385 | |||||||||
| All outstanding liabilities before 2012, net of reinsurance | 100,681 | |||||||||
| Liabilities for loss and loss adjustment expenses, net of reinsurance | 507,508 | |||||||||
| Accident Year 2016 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | 195,760 | $ 197,359 | $ 198,566 | $ 201,604 | $ 202,820 | $ 209,214 | $ 218,005 | $ 241,406 | $ 250,491 | $ 250,491 |
| Total IBNR Plus Expected Development on Reported Claims | $ 4,691 | |||||||||
| Cumulative Number of Claims Reported | Claim | 5,395 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 180,382 | 179,521 | 178,572 | 174,134 | 172,133 | 166,887 | 156,860 | 143,016 | 115,713 | $ 52,238 |
| Claim Frequency | 14.23% | |||||||||
| Accident Year 2017 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 202,037 | 203,443 | 206,293 | 208,360 | 211,964 | 220,096 | 234,587 | 244,098 | 244,094 | |
| Total IBNR Plus Expected Development on Reported Claims | $ 4,087 | |||||||||
| Cumulative Number of Claims Reported | Claim | 5,214 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 189,023 | 186,798 | 185,690 | 183,696 | 175,733 | 166,448 | 151,427 | 122,552 | $ 56,951 | |
| Claim Frequency | 14.69% | |||||||||
| Accident Year 2018 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 201,974 | 203,456 | 205,001 | 208,517 | 217,369 | 235,641 | 250,487 | 250,487 | ||
| Total IBNR Plus Expected Development on Reported Claims | $ 3,851 | |||||||||
| Cumulative Number of Claims Reported | Claim | 5,478 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 189,256 | 187,196 | 184,797 | 181,081 | 172,423 | 152,328 | 126,057 | $ 62,061 | ||
| Claim Frequency | 15.23% | |||||||||
| Accident Year 2019 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 203,056 | 203,072 | 206,109 | 214,123 | 227,246 | 241,344 | 241,344 | |||
| Total IBNR Plus Expected Development on Reported Claims | $ 3,718 | |||||||||
| Cumulative Number of Claims Reported | Claim | 5,225 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 184,463 | 180,586 | 176,488 | 168,448 | 154,391 | 120,512 | $ 58,884 | |||
| Claim Frequency | 15.28% | |||||||||
| Accident Year 2020 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 194,042 | 200,698 | 207,047 | 214,500 | 220,710 | 220,710 | ||||
| Total IBNR Plus Expected Development on Reported Claims | $ 7,956 | |||||||||
| Cumulative Number of Claims Reported | Claim | 4,392 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 166,910 | 162,703 | 153,974 | 137,411 | 109,882 | $ 50,113 | ||||
| Claim Frequency | 13.96% | |||||||||
| Accident Year 2021 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 206,414 | 211,548 | 215,232 | 222,715 | 222,715 | |||||
| Total IBNR Plus Expected Development on Reported Claims | $ 3,853 | |||||||||
| Cumulative Number of Claims Reported | Claim | 4,325 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 182,265 | 174,454 | 159,864 | 130,288 | $ 52,292 | |||||
| Claim Frequency | 15.10% | |||||||||
| Accident Year 2022 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 185,894 | 190,117 | 192,907 | 192,907 | ||||||
| Total IBNR Plus Expected Development on Reported Claims | $ (92) | |||||||||
| Cumulative Number of Claims Reported | Claim | 4,093 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 151,449 | 138,000 | 110,494 | $ 50,954 | ||||||
| Claim Frequency | 14.50% | |||||||||
| Accident Year 2023 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 188,080 | 189,659 | 189,659 | |||||||
| Total IBNR Plus Expected Development on Reported Claims | $ 7,289 | |||||||||
| Cumulative Number of Claims Reported | Claim | 3,945 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 138,084 | 107,823 | $ 47,207 | |||||||
| Claim Frequency | 13.90% | |||||||||
| Accident Year 2024 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 192,153 | 192,153 | ||||||||
| Total IBNR Plus Expected Development on Reported Claims | $ (31,986) | |||||||||
| Cumulative Number of Claims Reported | Claim | 3,792 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 125,418 | $ 52,869 | ||||||||
| Claim Frequency | 13.13% | |||||||||
| Accident Year 2025 [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 203,802 | |||||||||
| Total IBNR Plus Expected Development on Reported Claims | $ (22,014) | |||||||||
| Cumulative Number of Claims Reported | Claim | 3,887 | |||||||||
| Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance | $ 59,135 | |||||||||
| Claim Frequency | 12.94% |
Loss and Loss Adjustment Expenses - Summary of Average Annual Percentage Payout Of Incurred Losses By Age Net of Reinsurance For Worker's Compensation and general Liability (Unaudited) (Detail) |
Dec. 31, 2024 |
|---|---|
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract] | |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 1 | 27.50% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 2 | 33.10% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 3 | 14.70% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 4 | 7.70% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 5 | 4.40% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 6 | 2.50% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 7 | 1.30% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 8 | 1.30% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 9 | 0.80% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year 10 | (0.40%) |
Loss and Loss Adjustment Expenses - Reconciliation of Beginning and Ending Reserve Balances, Net of Related Amounts Recoverable from Reinsurers (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract] | |||
| Balance, beginning of period | $ 651,309 | $ 673,994 | $ 696,037 |
| Less amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses | 112,742 | 119,746 | 112,555 |
| Net balance, beginning of period | 538,567 | 554,248 | 583,482 |
| Add incurred related to: | |||
| Current accident year | 203,802 | 192,153 | 189,659 |
| Prior accident years | (33,865) | (34,886) | (41,396) |
| Total incurred | 169,937 | 157,267 | 148,263 |
| Less paid related to: | |||
| Current accident year | 59,135 | 52,869 | 47,207 |
| Prior accident years | 141,861 | 120,079 | 130,290 |
| Total paid | 200,996 | 172,948 | 177,497 |
| Net balance, end of period | 507,508 | 538,567 | 554,248 |
| Add amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses | 106,075 | 112,742 | 119,746 |
| Balance, end of period | $ 613,583 | $ 651,309 | $ 673,994 |
Loss and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Unpaid Losses And Loss Expenses [Line Items] | |||
| Loss and LAE Related to Prior Periods | $ 33,865 | $ 34,886 | $ 41,396 |
| Minimum period of underwriting workers? compensation insurance from which historical loss data utilize | 40 years | ||
Loss and Loss Adjustment Expenses - Summary Exposures to Various Asbestos Related Claims (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Asbestos Claims [Line Items] | |||
| Balance, beginning of period | $ 651,309 | $ 673,994 | $ 696,037 |
| Incurred losses and LAE during the current year | 169,937 | 157,267 | 148,263 |
| Balance, end of period | 613,583 | 651,309 | 673,994 |
| Asbestos Issue [Member] | |||
| Asbestos Claims [Line Items] | |||
| Balance, beginning of period | 313 | 310 | 248 |
| Incurred losses and LAE during the current year | 34 | 14 | 15 |
| Loss and LAE payments | (7) | (11) | 47 |
| Balance, end of period | $ 340 | $ 313 | $ 310 |
Statutory Accounting and Regulatory Requirements - Insurance Subsidiaries (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Insurance [Abstract] | |||
| Capital and surplus | $ 217,798 | $ 235,091 | $ 254,856 |
| Net income | 39,674 | 43,668 | 56,637 |
| Net realized gains (losses) on investments | $ (86) | $ (1,579) | $ 5,470 |
Statutory Accounting and Regulatory Requirements - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2026 |
|
| Dividends to the Company | 10.00% | |||
| Dividends paid | $ 62.7 | $ 71.0 | $ 56.0 | |
| Forecast [Member] | ||||
| Dividends permissible to pay without seeking regulatory approval | $ 40.1 | |||
Capital Stock - Additional Information (Detail) - $ / shares |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Equity [Abstract] | ||
| Common stock, shares authorized | 50,000,000 | 50,000,000 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares issued | 20,769,021 | 20,733,166 |
| Common stock, shares outstanding | 18,794,881 | 19,050,315 |
| Preferred stock, shares authorized | 10,000,000 | |
| Preferred stock, par value | $ 0.01 | |
| Preferred stock, shares outstanding | 0 |
Equity Based Compensation - Additional Information (Detail) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| 2012 Equity and Incentive Compensation Plan [Member] | Performance Shares [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Common stock, shares issued | 19,737 | 12,993 | 18,561 | |
| 2012 Equity and Incentive Compensation Plan [Member] | Share Based Grants [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Compensation (benefit) expense | $ 10,000 | $ 79,000 | $ (43,000) | |
| 2012 Equity and Incentive Compensation Plan [Member] | Long-Term Incentive Awards [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Compensation (benefit) expense | $ (13,000) | $ 712,000 | $ (223,000) | |
| Non-Employee Director Restricted Stock Plan [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Restricted stock outstanding | 0 | 12,110 | 9,856 | 11,888 |
| Compensation (benefit) expense | $ 227,000 | $ 527,000 | $ 484,000 | |
| Shares authorized under incentive plan | 113,668 | |||
| Common stock granted | 0 | 12,110 | 9,856 | |
| Coomon stock forfeited | 1,486 | |||
| Common stock available for future awards | 59,512 | |||
| Maximum equity target value approved by shareholder | $ 200,000 | |||
| Maximum equity target value without approval by share holder | $ 75,000 | |||
| 2022 Equity and Incentive Compensation Plan [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Shares authorized under incentive plan | 500,000 | |||
| Common stock available for future awards | 437,508 | |||
| 2022 Equity and Incentive Compensation Plan [Member] | Restricted Stock [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Restricted stock outstanding | 12,292 | 1,259 | 1,679 | 2,098 |
| Common stock granted | 11,452 | |||
| 2022 Equity and Incentive Compensation Plan [Member] | Restricted stock units (RSUs) [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Restricted stock outstanding | 35,816 | 51,455 | 47,219 | 22,826 |
| Common stock granted | 11,177 | 10,384 | 33,369 | |
| Coomon stock forfeited | 18,922 | 987 | ||
| 2022 Equity and Incentive Compensation Plan [Member] | Share Based Grants [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Compensation (benefit) expense | $ 921,000 | $ 832,000 | $ 559,000 | |
| 2022 Equity and Incentive Compensation Plan [Member] | Long-Term Incentive Awards [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Compensation (benefit) expense | $ 1,761,000 | $ 789,000 | $ 780,000 | |
Equity Based Compensation - Restricted Stock Activity (Detail) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| 2012 Incentive Plan [Member] | Common and Restricted Stock [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Shares, Nonvested outstanding, Beginning balance | 637 | 1,305 | 10,531 |
| Shares, Granted | 19,737 | 12,993 | 18,561 |
| Shares, Vested | (19,949) | (13,661) | (21,887) |
| Shares, Forfeited | (5,900) | ||
| Shares, Nonvested outstanding, Ending balance | 425 | 637 | 1,305 |
| Weighted-Average Grant-Date Fair Value per Share, Beginning balance | $ 47.07 | $ 55.18 | $ 60.92 |
| Weighted-Average Grant-Date Fair Value per Share, Granted | 47.19 | 43.14 | 52.35 |
| Weighted-Average Grant-Date Fair Value per Share, Vested | 47.18 | 44.11 | 53.65 |
| Weighted-Average Grant-Date Fair Value per Share, Forfeited | 50.97 | ||
| Weighted-Average Grant-Date Fair Value per Share, Ending balance | $ 47.07 | $ 47.07 | $ 55.18 |
| Non-Employee Director Restricted Stock Plan [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Shares, Nonvested outstanding, Beginning balance | 12,110 | 9,856 | 11,888 |
| Shares, Granted | 0 | 12,110 | 9,856 |
| Shares, Vested | (12,110) | (9,856) | (10,402) |
| Shares, Forfeited | (1,486) | ||
| Shares, Nonvested outstanding, Ending balance | 0 | 12,110 | 9,856 |
| Weighted-Average Grant-Date Fair Value per Share, Beginning balance | $ 43.33 | $ 53.26 | $ 50.47 |
| Weighted-Average Grant-Date Fair Value per Share, Granted | 0 | 43.33 | 53.26 |
| Weighted-Average Grant-Date Fair Value per Share, Vested | 43.33 | 53.26 | 50.47 |
| Weighted-Average Grant-Date Fair Value per Share, Forfeited | 55.08 | ||
| Weighted-Average Grant-Date Fair Value per Share, Ending balance | $ 0 | $ 43.33 | $ 53.26 |
| 2022 Equity and Incentive Compensation Plan [Member] | Restricted Stock [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Shares, Nonvested outstanding, Beginning balance | 1,259 | 1,679 | 2,098 |
| Shares, Granted | 11,452 | ||
| Shares, Vested | (419) | (420) | (419) |
| Shares, Nonvested outstanding, Ending balance | 12,292 | 1,259 | 1,679 |
| Weighted-Average Grant-Date Fair Value per Share, Beginning balance | $ 47.65 | $ 47.65 | $ 47.65 |
| Weighted-Average Grant-Date Fair Value per Share, Granted | 45.84 | ||
| Weighted-Average Grant-Date Fair Value per Share, Vested | 47.65 | 47.65 | 47.65 |
| Weighted-Average Grant-Date Fair Value per Share, Ending balance | $ 45.96 | $ 47.65 | $ 47.65 |
| 2022 Equity and Incentive Compensation Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Shares, Nonvested outstanding, Beginning balance | 51,455 | 47,219 | 22,826 |
| Shares, Granted | 11,177 | 10,384 | 33,369 |
| Shares, Vested | (7,894) | (6,148) | (7,989) |
| Shares, Forfeited | (18,922) | (987) | |
| Shares, Nonvested outstanding, Ending balance | 35,816 | 51,455 | 47,219 |
| Weighted-Average Grant-Date Fair Value per Share, Beginning balance | $ 51.54 | $ 51.19 | $ 48.19 |
| Weighted-Average Grant-Date Fair Value per Share, Granted | 52.16 | 52.19 | 52.61 |
| Weighted-Average Grant-Date Fair Value per Share, Vested | 50.03 | 50.01 | 48.19 |
| Weighted-Average Grant-Date Fair Value per Share, Forfeited | 40.08 | 51.26 | |
| Weighted-Average Grant-Date Fair Value per Share, Ending balance | $ 52.68 | $ 51.54 | $ 51.19 |
Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Earnings Per Share, Basic [Abstract] | |||
| Net income – basic | $ 47,145 | $ 55,436 | $ 62,108 |
| Basic weighted average common shares | 18,979,465 | 19,070,717 | 19,149,080 |
| Basic earnings per share | $ 2.48 | $ 2.91 | $ 3.24 |
| Net income - diluted | $ 47,145 | $ 55,436 | $ 62,108 |
| Weighted average common shares | 18,979,465 | 19,070,717 | 19,149,080 |
| Restricted stock and RSUs | 102,677 | 89,088 | 76,941 |
| Diluted weighted average common shares | 19,082,142 | 19,159,805 | 19,226,021 |
| Diluted earnings per common share | $ 2.47 | $ 2.89 | $ 3.23 |
Earnings Per Share - Reconciliation of Weighted Average Shares used for Basic and Diluted Earnings Per Share Calculation (Detail) - shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Earnings Per Share [Abstract] | |||
| Weighted average common shares | 18,979,465 | 19,070,717 | 19,149,080 |
| Add: Other common shares eligible for common dividends: | |||
| Restricted stock and RSUs | 102,677 | 89,088 | 76,941 |
| Diluted weighted average common shares | 19,082,142 | 19,159,805 | 19,226,021 |
Comprehensive Income and Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Loss (AOCI) (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Accumulated Other Comprehensive Income Loss [Line Items] | |||
| Beginning Balance | $ 257,341 | $ 292,451 | $ 317,432 |
| Other comprehensive income (loss) before reclassification | 5,345 | (1,919) | 6,202 |
| Amounts reclassified from accumulated other comprehensive loss, net | 313 | 238 | 432 |
| Net current period other comprehensive income (loss) | 5,658 | (1,681) | 6,634 |
| Ending Balance | 251,598 | 257,341 | 292,451 |
| Accumulated Other Comprehensive Income (Loss) [Member] | |||
| Accumulated Other Comprehensive Income Loss [Line Items] | |||
| Beginning Balance | (8,875) | (7,194) | (13,828) |
| Ending Balance | $ (3,217) | $ (8,875) | $ (7,194) |
Comprehensive Income and Accumulated Other Comprehensive Loss - Reclassification Out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
| Net realized gains (losses) on investments | $ 3,034 | $ (576) | $ 6,579 |
| Income before income taxes | 58,851 | 69,056 | 77,377 |
| Income tax expense | (11,706) | (13,620) | (15,269) |
| Net income | 47,145 | 55,436 | 62,108 |
| Unrealized losses on Available-for-Sale Securities [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | |||
| Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
| Net realized gains (losses) on investments | (396) | (302) | (547) |
| Income before income taxes | (396) | (302) | (547) |
| Income tax expense | 83 | 64 | 115 |
| Net income | $ (313) | $ (238) | $ (432) |
Comprehensive Income and Accumulated Other Comprehensive Loss - Other Comprehensive Income (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Accumulated Other Comprehensive Loss, Net of Tax [Abstract] | |||
| Unrealized gain on available-for-sale securities | $ 6,766 | $ (2,429) | $ 7,850 |
| Reclassification adjustment for losses realized in net income | 396 | 302 | 547 |
| Net unrealized gain | 7,162 | (2,127) | 8,397 |
| Other comprehensive income | 7,162 | (2,127) | 8,397 |
| Unrealized gain loss on available-for-sale securities, Tax Expense (Benefit) | 1,421 | (510) | 1,648 |
| Reclassification adjustment for losses realized in net income | 83 | 64 | 115 |
| Net unrealized gain loss | 1,504 | (446) | 1,763 |
| Other comprehensive loss | 1,504 | (446) | 1,763 |
| Unrealized gain on available-for-sale securities | 5,345 | (1,919) | 6,202 |
| Reclassification adjustment for losses realized in net income | 313 | 238 | 432 |
| Net unrealized gain | 5,658 | (1,681) | 6,634 |
| Other comprehensive income | $ 5,658 | $ (1,681) | $ 6,634 |
Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Defined Contribution Plan, Plan Name [Extensible Enumeration] | Employee 401 K Benefit Plan | ||
| Matches employee compensation for participating employees | 50.00% | ||
| Fully vested in employer contributions | 5 years | ||
| Defined contribution this plan | $ 0.8 | $ 0.7 | $ 0.7 |
| Maximum [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Matches employee compensation for participating employees | 6.00% | ||
Commitments and Contingencies - Fair Value of Annuities (Detail) $ in Thousands |
Dec. 31, 2025
USD ($)
|
|---|---|
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | $ 105,660 |
| Pacific Life Insurance Company [Member] | A.M. Best Rating, A+ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 21,812 |
| Metropolitan Tower Life Insurance Company [Member] | A.M. Best Rating, A+ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 18,185 |
| American General Life Insurance Company [Member] | A.M. Best Rating, A [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 11,983 |
| United Of Omaha Life Insurance Company | A.M. Best Rating, A+ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 10,098 |
| Brighthouse Financial Life Insurance Company [Member] | A.M. Best Rating, A [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 8,446 |
| New York Life Insurance Company [Member] | A.M. Best Rating, A++ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 8,747 |
| Berkshire Hathaway Life Insurance Company of Nebraska [Member] | A.M. Best Rating, A++ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 6,887 |
| John Hancock Life Insurance Company [Member] | A.M. Best Rating, A+ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 5,074 |
| Athene Annuity and Life Company [Member] | A.M. Best Rating, A [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 3,145 |
| Wilton Reassurance Company [Member] | A.M. Best Rating, A+ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 2,740 |
| Protective Life Insurance Company [Member] | A.M. Best Rating, A+ [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | 2,696 |
| Other [Member] | |
| Commitments And Contingencies [Line Items] | |
| Statement value of annuities exceeding 1% of statutory surplus | $ 5,847 |
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Commitments And Contingencies [Line Items] | |||
| Operating lease, existence of option to extend | true | ||
| Finance lease, existence of option to extend | true | ||
| Rent expense | $ 0.1 | $ 0.1 | $ 0.1 |
| Minimum [Member] | |||
| Commitments And Contingencies [Line Items] | |||
| Operating lease, remaining lease term | 2 months | ||
| Finance lease, remaining lease term | 2 months | ||
| Maximum [Member] | |||
| Commitments And Contingencies [Line Items] | |||
| Operating lease, remaining lease term | 60 months | ||
| Finance lease, remaining lease term | 60 months | ||
| Operating lease, options to extend lease term | 5 years | ||
| Finance lease, options to extend lease term | 5 years | ||
Commitments and Contingencies - Components of Lease Expense (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Operating lease cost | $ 106 | $ 101 |
| Finance lease cost: | ||
| Amortization of right-of-use assets | 415 | 398 |
| Interest on lease liabilities | 9 | 11 |
| Total finance lease cost | $ 424 | $ 409 |
Commitments and Contingencies - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Cash paid for amounts included in the measurement of lease liabilities: | |||
| Operating cash flows from operating leases | $ (64) | $ 247 | |
| Operating cash flows from finance leases | 9 | 11 | |
| Financing cash flows from finance leases | $ 85 | $ 85 | $ 91 |
Commitments and Contingencies - Schedule of Right-of-use Assets Obtained in Exchange for Lease Obligations (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Operating leases | $ 21 | $ 325 |
| Finance leases | $ 212 | $ 0 |
Commitments and Contingencies - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Operating lease right-of-use assets | $ 212 | $ 276 |
| Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Other assets | Other assets |
| Operating lease liabilities | $ 212 | $ 276 |
| Operating Lease, Liability, Statement of Financial Position [Extensible List] | Accounts payable and other liabilities | Accounts payable and other liabilities |
| Finance lease right-of-use assets | $ 656 | $ 462 |
| Finance lease accumulated amortization right-of-use assets | (415) | (398) |
| Property and equipment, net | $ 241 | $ 64 |
| Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Property and equipment, net | Property and equipment, net |
| Finance lease liabilities | $ 279 | $ 152 |
| Finance Lease, Liability, Statement of Financial Position [Extensible List] | Accounts payable and other liabilities | Accounts payable and other liabilities |
Commitments and Contingencies - Schedule of Weighted Average Remaining Lease Term and Discount Rate (Detail) |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Operating leases, Weighted average remaining lease term: | 2 years 10 months 24 days | 3 years 9 months 18 days |
| Finance leases, Weighted average remaining lease term: | 4 years 2 months 12 days | 2 years 1 month 6 days |
| Operating leases, Weighted average discount rate: | 8.46% | 8.45% |
| Finance leases, Weighted average discount rate: | 6.92% | 5.89% |
Commitments and Contingencies - Schedule of Maturity Analysis of Annual Undiscounted Cash Flows of Operating and Finance Lease Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Operating Leases, 2026 | $ 86 | |
| Operating Leases, 2027 | 73 | |
| Operating Leases, 2028 | 75 | |
| Operating Leases, 2029 | 6 | |
| Operating Leases, 2030 | 0 | |
| Total lease payments | 240 | |
| Operating Leases, Less imputed interest | 28 | |
| Operating Leases, Total | 212 | $ 276 |
| Finance Leases, 2026 | 100 | |
| Finance Leases, 2027 | 72 | |
| Finance Leases, 2028 | 50 | |
| Finance Leases, 2029 | 50 | |
| Finance Leases, 2030 | 50 | |
| Total lease payments | 322 | |
| Finance Leases, Less imputed interest | 43 | |
| Finance Leases, Total | $ 279 | $ 152 |
Concentration of Operations - Net Premiums Earned for the Top Ten States (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 283,057 | $ 270,639 | $ 267,125 |
| Premium earned percentage | 100.00% | 100.00% | 100.00% |
| Florida [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 44,113 | $ 38,976 | $ 33,838 |
| Premium earned percentage | 15.60% | 14.40% | 12.70% |
| Georgia [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 27,345 | $ 28,267 | $ 30,504 |
| Premium earned percentage | 9.70% | 10.40% | 11.40% |
| Pennsylvania [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 20,272 | $ 19,564 | $ 19,963 |
| Premium earned percentage | 7.20% | 7.20% | 7.50% |
| Louisiana [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 17,218 | $ 16,998 | $ 21,150 |
| Premium earned percentage | 6.10% | 6.30% | 7.90% |
| Illinois [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 20,830 | $ 16,294 | $ 13,072 |
| Premium earned percentage | 7.40% | 6.00% | 4.90% |
| North Carolina [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 18,138 | $ 15,863 | $ 16,432 |
| Premium earned percentage | 6.40% | 5.90% | 6.20% |
| Alaska [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 9,994 | $ 8,531 | $ 8,178 |
| Premium earned percentage | 3.40% | 3.20% | 3.10% |
| Wisconsin [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 10,996 | $ 10,769 | $ 11,724 |
| Premium earned percentage | 3.90% | 4.00% | 4.40% |
| Virginia [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 10,507 | $ 10,151 | $ 10,400 |
| Premium earned percentage | 3.70% | 3.80% | 3.80% |
| Minnesota [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 8,869 | $ 8,323 | $ 8,845 |
| Premium earned percentage | 3.10% | 3.10% | 3.30% |
| All Others [Member] | |||
| Schedule Of Premiums Earned Net By Segment [Line Items] | |||
| Net premiums earned | $ 94,775 | $ 96,903 | $ 93,019 |
| Premium earned percentage | 33.50% | 35.70% | 34.80% |
Fair Values of Financial Instruments - Summary of Carrying or Reported Values and Corresponding Fair Values for Financial Instruments (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fixed maturity securities, fair value | $ 344,576 | $ 399,721 |
| Fixed maturity securities-available-for-sale | 313,038 | 307,750 |
| Equity securities | 57,493 | 58,629 |
| Short-term investments | 14,237 | 9,338 |
| Carrying Amount [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fixed maturity securities, fair value | 350,087 | 413,061 |
| Fixed maturity securities-available-for-sale | 313,038 | 307,750 |
| Equity securities | 57,493 | 58,629 |
| Short-term investments | 14,237 | 9,338 |
| Cash and cash equivalents | 61,926 | 44,045 |
| Fair Value [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fixed maturity securities, fair value | 344,576 | 399,721 |
| Fixed maturity securities-available-for-sale | 313,038 | 307,750 |
| Equity securities | 57,493 | 58,629 |
| Short-term investments | 14,237 | 9,338 |
| Cash and cash equivalents | $ 61,926 | $ 44,045 |
Fair Values of Financial Instruments - Schedule of Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | $ 313,038 | $ 307,750 |
| Equity securities, Fair Value | 57,493 | 58,629 |
| Fair Value, Measurements, Recurring [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 313,038 | 307,750 |
| Total | 370,531 | 366,379 |
| Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 12,503 | 13,950 |
| Total | 69,996 | 72,579 |
| Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 300,535 | 293,800 |
| Total | 300,535 | 293,800 |
| Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 158,190 | 148,206 |
| Fair Value, Measurements, Recurring [Member] | States and Political Subdivisions [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 158,190 | 148,206 |
| Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 138,704 | 141,535 |
| Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 138,704 | 141,535 |
| Fair Value, Measurements, Recurring [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 3,641 | 4,059 |
| Fair Value, Measurements, Recurring [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 3,641 | 4,059 |
| Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 12,503 | 13,950 |
| Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Available-for-sale fixed maturity, Fair Value | 12,503 | 13,950 |
| Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Equity securities, Fair Value | 57,493 | 58,629 |
| Fair Value, Measurements, Recurring [Member] | Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Equity securities, Fair Value | $ 57,493 | $ 58,629 |
Fair Values of Financial Instruments - Schedule of Assets Measured at Amortized Cost (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | $ 344,576 | $ 399,721 |
| States and Political Subdivisions [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 317,529 | 356,268 |
| Corporate Bonds [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 16,245 | 32,670 |
| U.S. Agency-Based Mortgage-Backed Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 2,348 | 2,643 |
| U.S. Treasury Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 8,445 | 8,127 |
| Asset-Backed Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 9 | 13 |
| Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 8,445 | 8,127 |
| Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 8,445 | 8,127 |
| Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 336,131 | 391,594 |
| Fair Value, Inputs, Level 2 [Member] | States and Political Subdivisions [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 317,529 | 356,268 |
| Fair Value, Inputs, Level 2 [Member] | Corporate Bonds [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 16,245 | 32,670 |
| Fair Value, Inputs, Level 2 [Member] | U.S. Agency-Based Mortgage-Backed Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | 2,348 | 2,643 |
| Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member] | ||
| Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
| Securities held-to-maturity-fixed maturity, Fair Value | $ 9 | $ 13 |
Segment Reporting - Additional Information (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
Segment
Policyholder
| |
| Segment Reporting [Abstract] | |
| Number of reportable segments | Segment | 1 |
| Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] | srt:ChiefExecutiveOfficerMember |
| Segment reporting, codm, profit (loss) measure, how used, description | The CODM evaluates the performance of and allocates resources for the Insurance Operations segment based on the operating results presented on the consolidated income statement, balance sheet and cash flow statement. |
| Number of policyholder have revenue 10% or more from transactions | Policyholder | 0 |
Capital Management - Additional Information (Detail) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Jul. 31, 2025 |
|
| Equity [Abstract] | ||||
| Share repurchase program, new limit amount | $ 16,900,000 | $ 25,000,000 | ||
| Shares repurchased under the program | 291,289 | 113,411 | 46,741 | |
| Shares repurchased under the program, value | $ 12,103,000 | $ 5,123,000 | $ 2,171,000 | |
| Shares repurchased, average price | $ 41.55 | $ 45.17 | $ 46.45 | |
| Shares repurchased, value | $ 54,155,000 | $ 42,052,000 | ||
| Shares repurchased | 1,974,140 | 1,682,851 | ||
| Quarterly dividend per share | $ 0.39 | $ 0.37 | 0.34 | |
| Extraordinary dividends declared per share | $ 1.00 | $ 3.00 | $ 3.50 | |
Subsequent Events - Additional Information (Detail) - $ / shares |
Feb. 24, 2026 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|---|
| Subsequent Event [Line Items] | ||||
| Cash dividend per share | $ 0.39 | $ 0.37 | $ 0.34 | |
| Subsequent Event [Member] | O 2026 Q1 Dividends [Member] | ||||
| Subsequent Event [Line Items] | ||||
| Cash dividend per share | $ 0.41 | |||
| Date of dividend declared | Feb. 24, 2026 | |||
| Date of payment for dividend | Mar. 20, 2026 | |||
| Date of record for dividend payment | Mar. 13, 2026 |
Schedule II. Condensed Financial Information of Registrant - Condensed Balance Sheets (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|---|
| Assets | ||||
| Fixed maturity securities-available-for-sale, at fair value | $ 313,038 | $ 307,750 | ||
| Equity securities, at fair value | 57,493 | 58,629 | ||
| Short-term investments | 14,237 | 9,338 | ||
| Total investments | 734,855 | 788,778 | ||
| Cash and cash equivalents | 61,926 | 44,045 | ||
| Deferred income taxes | 17,572 | 19,448 | ||
| Property and equipment, net | 7,293 | 5,887 | ||
| Federal income tax recoverable | 3,088 | 2,180 | ||
| Other assets | 8,720 | 11,297 | ||
| Total assets | 1,130,544 | 1,157,791 | ||
| Liabilities: | ||||
| Accounts payable and other liabilities | 39,178 | 38,409 | ||
| Total liabilities | 878,946 | 900,450 | ||
| Shareholders' equity (net of Treasury stock of $54,155 and $42,052 at December 31, 2025 and 2024, respectively) | 251,598 | 257,341 | $ 292,451 | $ 317,432 |
| Total liabilities and shareholders’ equity | 1,130,544 | 1,157,791 | ||
| Parent Company [Member] | ||||
| Assets | ||||
| Fixed maturity securities-available-for-sale, at fair value | 970 | 4,925 | ||
| Equity securities, at fair value | 0 | 8,000 | ||
| Short-term investments | 4,593 | |||
| Investment in subsidiaries | 220,923 | 230,936 | ||
| Total investments | 226,486 | 243,861 | ||
| Cash and cash equivalents | 19,946 | 11,793 | ||
| Deferred income taxes | 1,240 | 685 | ||
| Notes receivable from subsidiaries | 2,398 | 2,007 | ||
| Property and equipment, net | 1,311 | 762 | ||
| Federal income tax recoverable | 3,252 | 1,676 | ||
| Other assets | 1,261 | 1,051 | ||
| Total assets | 255,894 | 261,835 | ||
| Liabilities: | ||||
| Accounts payable and other liabilities | 4,296 | 4,494 | ||
| Total liabilities | 4,296 | 4,494 | ||
| Shareholders' equity (net of Treasury stock of $54,155 and $42,052 at December 31, 2025 and 2024, respectively) | 251,598 | 257,341 | ||
| Total liabilities and shareholders’ equity | $ 255,894 | $ 261,835 |
Schedule II. Condensed Financial Information of Registrant - Condensed Balance Sheets (Parenthetical) (Detail) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Condensed Balance Sheet Statements, Captions [Line Items] | ||
| Fixed maturity securities, amortized cost | $ 317,116 | $ 318,975 |
| Equity securities, cost | 31,165 | 36,020 |
| Net of Treasury stock | 54,155 | 42,052 |
| Parent Company [Member] | ||
| Condensed Balance Sheet Statements, Captions [Line Items] | ||
| Fixed maturity securities, amortized cost | 997 | 4,988 |
| Equity securities, cost | 0 | 5,110 |
| Net of Treasury stock | $ 54,155 | $ 42,052 |
Schedule II. Condensed Financial Information of Registrant - Condensed Statements of Income (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Revenues | |||
| Net investment income | $ 26,993 | $ 29,212 | $ 31,339 |
| Net unrealized gains on equity securities | 3,719 | 9,508 | 1,228 |
| Fee and other income | 449 | 260 | 582 |
| Total revenues | 317,252 | 309,043 | 306,853 |
| Expenses | |||
| Total expenses | 258,401 | 239,987 | 229,476 |
| Income tax expense | 11,706 | 13,620 | 15,269 |
| Net income | 47,145 | 55,436 | 62,108 |
| Parent Company [Member] | |||
| Revenues | |||
| Net investment income | 3,593 | 2,279 | 4,861 |
| Net unrealized gains on equity securities | (2,890) | 141 | (845) |
| Fee and other income | 8,856 | 10,395 | 8,933 |
| Total revenues | 9,559 | 12,815 | 12,949 |
| Expenses | |||
| Other operating costs | 8,856 | 10,395 | 8,932 |
| Total expenses | 8,856 | 10,395 | 8,932 |
| Income before income taxes and equity in earnings of subsidiaries | 703 | 2,420 | 4,017 |
| Income tax expense | 617 | 1,412 | 1,055 |
| Gain before equity in earnings of subsidiaries | 86 | 1,008 | 2,962 |
| Equity in net income of subsidiaries | 47,058 | 54,428 | 59,146 |
| Net income | $ 47,144 | $ 55,436 | $ 62,108 |
Schedule II. Condensed Financial Information of Registrant - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Operating activities | |||
| Net cash provided by operating activities | $ 11,070 | $ 24,190 | $ 29,842 |
| Investing activities | |||
| Purchases of property and equipment | (2,148) | (840) | (553) |
| Net cash provided by investing activities | 68,423 | 72,371 | 43,884 |
| Financing activities | |||
| Finance lease purchases | (85) | (85) | (91) |
| Share-based compensation related tax withholding | (817) | (554) | (944) |
| Purchase of treasury stock | (12,103) | (5,123) | (2,171) |
| Dividends to shareholders | (48,607) | (85,436) | (93,307) |
| Net cash used in financing activities | (61,612) | (91,198) | (96,513) |
| Change in cash and cash equivalents | 17,881 | 5,363 | (22,787) |
| Cash and cash equivalents at beginning of year | 44,045 | 38,682 | 61,469 |
| Cash and cash equivalents at end of year | 61,926 | 44,045 | 38,682 |
| Parent Company [Member] | |||
| Operating activities | |||
| Net cash provided by operating activities | 554 | 2,623 | 5,591 |
| Investing activities | |||
| Purchases of investments | (4,588) | 0 | (24,885) |
| Proceeds from sales of investments | 12,223 | 22,502 | 35,013 |
| Purchases of property and equipment | (1,124) | 231 | (482) |
| Dividends from subsidiary | 62,700 | 71,000 | 56,000 |
| Net cash provided by investing activities | 69,211 | 93,733 | 65,646 |
| Financing activities | |||
| Finance lease purchases | (85) | (85) | (91) |
| Share-based compensation related tax withholding | (817) | (554) | (944) |
| Purchase of treasury stock | (12,103) | (5,123) | (2,171) |
| Dividends to shareholders | (48,607) | (85,436) | (93,307) |
| Net cash used in financing activities | (61,612) | (91,198) | (96,513) |
| Change in cash and cash equivalents | 8,153 | 5,158 | (25,276) |
| Cash and cash equivalents at beginning of year | 11,793 | 6,635 | 31,911 |
| Cash and cash equivalents at end of year | $ 19,946 | $ 11,793 | $ 6,635 |
Schedule VI. Supplemental Information Concerning Property-Casualty Insurance Operations (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract] | |||
| Deferred Policy Acquisition Costs | $ 21,085 | $ 19,151 | $ 17,975 |
| Reserves for Unpaid Loss and Loss Adjustment Expense | 613,583 | 651,309 | 673,994 |
| Unearned Premium | 135,503 | 121,926 | 116,585 |
| Net Premiums Earned | 283,057 | 270,639 | 267,125 |
| Net Investment Income | 26,993 | 29,212 | 31,339 |
| Loss and LAE Related to Current Period | 203,802 | 192,153 | 189,659 |
| Loss and LAE Related to Prior Periods | (33,865) | (34,886) | (41,396) |
| Amortization of Deferred Policy Acquisition Costs | (44,224) | (42,172) | (40,859) |
| Paid Claims and Claim Adjustment Expenses | 200,996 | 172,948 | 177,497 |
| Net Premiums Written | $ 296,634 | $ 275,980 | $ 268,734 |