Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Feb. 12, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Entity Registrant Name	Employers Holdings, Inc.
Entity Central Index Key	0001379041
Current Fiscal Year End Date	--12-31
Entity Well Know Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		31,493,828
Entity Public Float			$ 662,932,517
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Available for sale:
Fixed maturity securities at fair value (amortized cost $2,186,119 at December 31, 2014 and $2,116,064 at December 31, 2013)	$ 2,275,749	$ 2,182,546
Equity securities at fair value (cost $97,834 at December 31, 2014 and $89,689 at December 31, 2013)	172,705	162,312
Total investments	2,448,454	2,344,858
Cash and cash equivalents	103,573	34,503
Restricted cash and cash equivalents	10,758	6,564
Accrued investment income	20,511	20,255
Premiums receivable, less bad debt allowance of $7,877 at December 31, 2014 and $7,064 at December 31, 2013	295,832	279,080
Reinsurance recoverable for:
Paid losses	10,663	8,412
Unpaid losses, including bad debt allowance of $389 at December 31, 2013	669,481	742,666
Deferred policy acquisition costs	44,600	43,532
Deferred income taxes, net	49,709	58,062
Property and equipment, net	21,032	16,616
Intangible assets, net	9,034	9,685
Goodwill	36,192	36,192
Contingent commission receivable–LPT Agreement	26,366	25,104
Other assets	23,450	17,920
Total assets	3,769,655	3,643,449
Claims and policy liabilities:
Unpaid losses and loss adjustment expenses	2,369,666	2,330,491
Unearned premiums	310,778	303,967
Total claims and policy liabilities	2,680,444	2,634,458
Commissions and premium taxes payable	46,285	45,314
Accounts payable and accrued expenses	20,379	18,711
Deferred reinsurance gain—LPT Agreement	207,020	249,072
Notes payable	92,000	102,000
Other liabilities	36,683	25,191
Total liabilities	3,082,811	3,074,746
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 54,866,802 and 54,672,904 shares issued and 31,493,828 and 31,299,930 shares outstanding at December 31, 2014 and 2013, respectively	549	547
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued	0	0
Additional paid-in capital	346,602	338,090
Retained earnings	595,318	502,198
Accumulated other comprehensive income, net	106,925	90,418
Treasury stock, at cost (23,372,974 shares at December 31, 2014 and 2013)	(362,550)	(362,550)
Total stockholders’ equity	686,844	568,703
Total liabilities and stockholders’ equity	$ 3,769,655	$ 3,643,449

Consolidated Balance Sheets (Parentheticals) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Available for sale:
Fixed maturity securities, amortized cost	$ 2,283,953	$ 2,205,753
Premiums receivable, bad debt allowance	7,877	7,064
Reinsurance recoverables, allowance for unpaid losses	0	389
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	54,866,802	54,672,904
Common stock, shares outstanding (in shares)	31,493,828	31,299,930
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury stock, at cost (in shares)	23,372,974	23,372,974
Debt Securities [Member]
Available for sale:
Fixed maturity securities, amortized cost	2,186,119	2,116,064
Equity Securities [Member]
Available for sale:
Fixed maturity securities, amortized cost	$ 97,834	$ 89,689

Consolidated Statements of Comprehensive Income (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Net premiums earned	$ 684,467	$ 642,349	$ 501,464
Net investment income	72,354	70,764	72,363
Realized gains on investments, net	16,338	9,529	5,048
Other income	308	939	307
Total revenues	773,467	723,581	579,182
Expenses
Losses and loss adjustment expenses	453,354	463,579	287,910
Commission expense	81,382	78,258	65,580
Underwriting and other operating expenses	129,167	125,324	124,644
Interest expense	3,005	3,246	3,504
Total expenses	666,908	670,407	481,638
Net income before income taxes	106,559	53,174	97,544
Income tax expense (benefit)	5,875	(10,650)	(9,347)
Net income	100,684	63,824	106,891
Comprehensive income
Unrealized gains (losses) during the period (net of tax expense (benefit) of $14,606, $(17,734), and $8,675 for the years ended December 31, 2014, 2013, and 2012, respectively)	27,127	(32,937)	16,111
Reclassification adjustment for realized gains in net income (net of taxes of $5,718, $3,335, and $1,767 for the years ended December 31, 2014, 2013, and 2012, respectively)	(10,620)	(6,194)	(3,281)
Other comprehensive income (loss), net of tax	16,507	(39,131)	12,830
Total comprehensive income	117,191	24,693	119,721
Earnings per common share (Note 18):
EPS, basic	$ 3.19	$ 2.05	$ 3.40
EPS, diluted	$ 3.14	$ 2.00	$ 3.37
Cash dividends declared per common share	$ 0.24	$ 0.24	$ 0.24
Realized gains on investments, net
Net realized gains on investments before credit related impairments on fixed maturity and equity securities	16,851	9,597	5,700
Other than temporary impairment, credit losses recognized in earnings	(513)	(68)	(652)
Realized gains on investments, net	$ 16,338	$ 9,529	$ 5,048

Consolidated Statements of Comprehensive Income (Parentheticals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other Comprehensive Income Parenthetical [Abstract]
Other comprehensive income (loss), unrealized holding gain (loss) on securities arising during period, tax	$ 14,606	$ (17,734)	$ 8,675
Other comprehensive income (loss), reclassification adjustment for sale of securities included in net income, tax	$ 5,718	$ 3,335	$ 1,767

Consolidated Statements of Stockholders Equity (USD $) In Thousands, except Share data	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income, Net	Treasury Stock at Cost
Stockholders' equity, value at Dec. 31, 2011	$ 461,983	$ 540	$ 318,989	$ 346,490	$ 116,719	$ (320,755)
Stockholders' equity, shares at Dec. 31, 2011		53,948,442
Stock-based compensation (Note 14), shares		0
Stock-based compensation (Note 14), value	6,141	0	6,141	0	0	0
Stock-options exercised, shares		101,261
Stock options exercised, value	1,431	1	1,430	0	0	0
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 15), shares		94,750
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 15), value	(592)	(1)	(593)	0	0	0
Acquisition of treasury stock (Note 13), shares		0
Acquisition of treasury stock (Note 13), value	(41,795)	0	0	0	0	(41,795)
Dividend to common stockholders, shares		0
Dividend to common stockholders, value	7,508	0	23	7,531	0	0
Net income for the period	106,891	0	0	106,891	0	0
Change in net unrealized gains on investments, net of taxes	12,830	0	0	0	12,830	0
Stockholders' equity, value at Dec. 31, 2012	539,381	542	325,990	445,850	129,549	(362,550)
Stockholders' equity, shares at Dec. 31, 2012		54,144,453
Stock-based compensation (Note 14), shares		0
Stock-based compensation (Note 14), value	5,622	0	5,622	0	0	0
Stock-options exercised, shares		411,295
Stock options exercised, value	7,356	4	7,352	0	0	0
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 15), shares		117,156
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 15), value	(894)	(1)	(895)	0	0	0
Dividend to common stockholders, shares		0
Dividend to common stockholders, value	7,455	0	21	7,476	0	0
Net income for the period	63,824	0	0	63,824	0	0
Change in net unrealized gains on investments, net of taxes	(39,131)	0	0	0	(39,131)	0
Stockholders' equity, value at Dec. 31, 2013	568,703	547	338,090	502,198	90,418	(362,550)
Stockholders' equity, shares at Dec. 31, 2013	54,672,904	54,672,904
Stock-based compensation (Note 14), shares		0
Stock-based compensation (Note 14), value	6,033	0	6,033	0	0	0
Stock-options exercised, shares		120,494
Stock options exercised, value	2,155	1	2,154	0	0	0
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 15), shares		73,404
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 15), value	(600)	(1)	(601)	0	0	0
Dividend to common stockholders, shares		0
Dividend to common stockholders, value	7,540	0	24	7,564	0	0
Excess tax benefit from stock-based compensation	902	0	902	0	0	0
Net income for the period	100,684	0	0	100,684	0	0
Change in net unrealized gains on investments, net of taxes	16,507	0	0	0	16,507	0
Stockholders' equity, value at Dec. 31, 2014	$ 686,844	$ 549	$ 346,602	$ 595,318	$ 106,925	$ (362,550)
Stockholders' equity, shares at Dec. 31, 2014	54,866,802	54,866,802

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities
Net income	$ 100,684	$ 63,824	$ 106,891
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,995	6,080	5,601
Stock-based compensation	6,033	5,622	6,141
Amortization of premium on investments, net	10,560	8,969	7,019
Deferred income tax benefit	(535)	(10,761)	(10,999)
Realized gains on investments, net	(16,338)	(9,529)	(5,048)
Excess tax benefits from stock-based compensation	(1,156)	0	0
Other operating activities, adjustments to reconcile net income to net cash	496	241	134
Change in operating assets and liabilities:
Premiums receivable	(17,565)	(57,175)	(62,979)
Reinsurance recoverable on paid and unpaid losses	71,322	63,775	136,716
Federal income taxes recoverable	6,506	(3,663)	100
Unpaid losses and loss adjustment expenses	39,175	98,951	(40,823)
Unearned premiums	6,811	38,818	70,216
Accounts payable, accrued expenses and other liabilities	10,259	(1,080)	2,132
Deferred reinsurance gain–LPT Agreement	(42,052)	(31,971)	(84,920)
Contingent commission receivable–LPT Agreement	(1,262)	(5,963)	(15,014)
Other	(10,536)	(2,413)	16,082
Net cash provided by operating activities	169,397	163,725	131,249
Investing activities
Purchase of fixed maturity securities	(378,012)	(514,210)	(444,001)
Purchase of equity securities	(29,458)	(30,499)	(30,979)
Proceeds from sale of fixed maturity securities	47,875	52,471	50,465
Proceeds from sale of equity securities	36,539	30,652	16,147
Proceeds from maturities and redemptions of investments	251,051	206,843	227,888
Proceeds from sale of fixed assets	0	780	226
Capital expenditures and other	(9,299)	(3,716)	(5,116)
Change in restricted cash and cash equivalents	(4,194)	(1,211)	946
Net used in investing activities	(85,498)	(258,890)	(184,424)
Financing activities
Acquisition of treasury stock	0	0	(41,795)
Cash transactions related to stock-based compensation	1,555	6,462	839
Dividends paid to stockholders	(7,540)	(7,455)	(7,508)
Payments on notes payable	(10,000)	(10,000)	(10,000)
Excess tax benefits from stock-based compensation	1,156	0	0
Net cash used in financing activities	(14,829)	(10,993)	(58,464)
Net increase (decrease) in cash and cash equivalents	69,070	(106,158)	(111,639)
Cash and cash equivalents at the beginning of the period	34,503	140,661	252,300
Cash and cash equivalents at the end of the period	103,573	34,503	140,661
Cash (received) paid for income taxes	(1,120)	3,850	1,819
Cash paid for interest	3,013	3,263	3,525
Schedule of non-cash transactions
Financed property and equipment purchases	$ 1,950	$ 3,582	$ 3,106

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2014
Basis of Presentation [Abstract]
Basis of Presentation	Basis of Presentation and Summary of Operations Nature of Operations and Organization Employers Holdings, Inc. (EHI) is a Nevada holding company. Through its wholly owned insurance subsidiaries, Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC), and Employers Assurance Company (EAC), EHI is engaged in the commercial property and casualty insurance industry, specializing in workers' compensation products and services. Unless otherwise indicated, all references to the “Company” refer to EHI, together with its subsidiaries. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). All intercompany transactions and balances have been eliminated in consolidation. The Company considers an operating segment to be any component of its business whose operating results are regularly reviewed by the Company's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance based on discrete financial information. Currently, the Company has one operating segment, workers' compensation insurance and related services. Use of Estimates The preparation of the consolidated financial statements in conformity 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. As a result, actual results could differ from these estimates. The most significant areas that require management judgment are the estimate of unpaid losses and loss adjustment expenses (LAE), evaluation of reinsurance recoverables, recognition of premium revenue, deferred income taxes, investments, and the valuation of goodwill and intangible assets. Reclassifications Certain prior period information has been reclassified to conform to the current period presentation.

Changes in Estimates Level 1 (Notes)

12 Months Ended

Dec. 31, 2014

Changes in Estimates [Abstract]

Accounting Changes and Error Corrections

Changes in Estimates

The Company reduced its estimated reserves ceded under the Loss Portfolio Transfer Agreement (LPT Reserve Adjustments) in each of the years 2014, 2013, and 2012 as a result of the determination that adjustments were necessary to reflect observed favorable paid loss trends in each of these years. The following table shows the financial statement impact related to the reduction in estimated reserves ceded under the Loss Portfolio Transfer Agreement (LPT Agreement).



	2014			2013			2012
	(in thousands, except per share data)
Change in estimated reserves ceded under the LPT Agreement	$	(46,800	)	$	(27,500	)	$	(100,000	)
Cumulative adjustment to the Deferred Gain⁽¹⁾	(31,112		)	(18,986		)	(73,349		)
Net income impact of change in estimate	31,112			18,986			73,349
EPS impact of change in estimate
Basic	0.99			0.61			2.33
Diluted	0.97			0.59			2.31


(1)	The cumulative adjustments to the Deferred Gain were also recognized in losses and LAE incurred in the consolidated statement of comprehensive income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

The Company increased its estimate of contingent commission receivable – LPT Agreement (LPT Contingent Commission Adjustments) in each of 2014, 2013, and 2012 as a result of the determination that adjustments were necessary to reflect observed favorable paid loss trends in each of these years. The following table shows the impact to the Consolidated Statements of Income related to these changes in estimates.



	2014			2013			2012
	(in thousands, except per share data)
Cumulative adjustment to the deferred reinsurance gain - LPT Agreement (Deferred Gain)⁽¹⁾	$	(10,846	)	$	(4,348	)	$	(9,609	)
Net income impact of change in estimate	10,846			4,348			9,609
EPS impact of change in estimate
Basic	0.34			0.14			0.31
Diluted	0.34			0.14			0.30


(1)	The cumulative adjustments to the Deferred Gain were also recognized in losses and LAE incurred in the consolidated statement of comprehensive income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

In 2014 and 2013, the Company reallocated reserves from non-taxable periods prior to January 1, 2000 to taxable years, which reduced our effective tax rates in those years. These changes in estimates were the result of the determination that a reallocation of reserves among accident years was appropriate to address a continuation of observed loss trends in each of these years. The following table shows the financial statement impact of these changes in estimates.



	2014			2013
	(in thousands, except per share data)
Reserves reallocated to taxable years	$	13,121		$	27,159
Impact to effective tax rate	(3.4		)%	(13.9		)%
Net income impact of change in estimate	$	3,595		$	7,400
EPS impact of change in estimate
Basic	0.11			0.24
Diluted	0.11			0.23

The Company changed the estimate of its guaranty fund assessment liability in 2012 as a result of the application of new information related to historical payment trends and reflected this change in its financial statements. The following table shows the financial statement impact related to this change in estimate.



	2012
	(in thousands, except per share data)
Impact to accrued liability for guaranty fund assessments	$	(2,870	)
Reduction the premium tax asset	680
Reduction in deferred acquisition costs (DAC)	764
Impact to underwriting and other operating expense	(1,426		)
Impact to income taxes	267
Net income impact of change in estimate	$	1,159
EPS impact of change in estimate
Basic and Diluted	0.04

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Significant Accounting Policies

Summary of Significant Accounting Policies

Cash and Cash Equivalents

The Company considers all highly liquid investments with an initial maturity of three months or less at the date of purchase to be cash equivalents.

Restricted Cash and Cash Equivalents

Restricted cash and cash equivalents is primarily related to funds held in trust to secure the Company's line of credit and for reinsurance. The Company's line of credit is secured by fixed maturity securities and restricted cash and cash equivalents that had a fair value of $74.6 million and $95.1 million, of which $6.8 million and $2.7 million were classified as restricted cash and cash equivalents at December 31, 2014 and 2013, respectively. The Company held $31.2 million and $32.2 million in trust for reinsurance, of which $4.0 million and $3.9 million were classified as restricted cash and cash equivalents at December 31, 2014 and 2013, respectively.

Investments

The Company's investments in fixed maturity securities and equity securities are classified as available-for-sale and are reported at fair value with unrealized gains and losses excluded from earnings and reported as a separate component of equity, net of deferred taxes, in accumulated other comprehensive income.

Investment income consists primarily of interest and dividends. Interest is recognized on an accrual basis, and dividends are recorded as earned at the ex-dividend date. Interest income on mortgage-backed and asset-backed securities is determined using the effective-yield method based on estimated principal repayments. Mortgage-backed securities are adjusted for the effects of changes in prepayment assumptions on the related accretion of discount or amortization of premium of such securities using the retrospective method.

Realized capital gains and losses on investments are determined on a specific-identification basis.

When, in the opinion of management, a decline in the fair value of an equity security below its cost is considered to be “other-than-temporary,” the equity security's cost is written down to its fair value at the time the other-than-temporary decline is identified. The determination of an other-than-temporary decline for debt securities includes, in addition to other relevant factors, a presumption that if the market value is below cost by a significant amount for a period of time, a bifurcation of the write-down may be necessary. If management has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery, the investment is written down to its fair value and the entire impairment is recorded as a realized loss due to credit in the accompanying consolidated statements of comprehensive income. If management does not have the intent to sell or will not be required to sell the debt security but does not expect to recover the amortized cost basis of the debt security, the amount of the other-than-temporary impairment is bifurcated between credit loss and other loss and recorded as a component of realized gains and losses and to other comprehensive income, respectively, in the consolidated statements of comprehensive income. The amount of any write-down is determined by the difference between the cost or amortized cost of the debt security and its fair value at the time the other-than-temporary decline is identified (see Note 6).

Recognition of Revenue and Expense

Revenue Recognition

Premium revenue is recognized over the period of the contract in proportion to the amount of time insurance protection is provided. At the end of the policy term, payroll-based premium audits are performed on substantially all policyholder accounts to determine net premiums earned for the policy year. Earned but unbilled premiums include estimated future audit premiums based on the Company's historical experience. These estimates are subject to changes in policyholders' payrolls, economic conditions, and seasonality, and are continually reviewed and adjusted as experience develops or new information becomes known. Any such adjustments are included in current operations; however, they are partially offset by the resulting changes in losses and LAE, commission expenses, and premium taxes. The Company's premiums receivable on the consolidated balance sheet included $49.1 million and $40.8 million of additional premiums expected to be received from policyholders for final audits at December 31, 2014 and 2013, respectively.

The Company establishes a bad debt allowance on its premiums receivable through a charge included in underwriting and other operating expenses in the accompanying consolidated statements of comprehensive income. This bad debt allowance is determined based on estimates and assumptions to project future experience. After all collection efforts have been exhausted, the Company reduces the bad debt allowance for write-offs of premiums receivable that have been deemed uncollectible. The Company had write-offs, net of recoveries of amounts previously written off, of $3.4 million, $2.5 million, and $1.9 million for the years ended December 31, 2014, 2013, and 2012, respectively.

Deferred Policy Acquisition Costs

Policy acquisition costs that relate directly to the successful acquisition of new or renewal insurance contracts, including underwriting, policy issuance and processing, medical and inspection, and sales force contract selling are deferred and amortized as the related premiums are earned. Amortization of deferred policy acquisition costs for the years ended December 31, 2014, 2013, and 2012, was $102.7 million, $96.9 million, and $85.9 million, respectively.

A premium deficiency would exist if expected future losses and LAE, expected policyholder dividends, deferred policy acquisition costs, and expected policy maintenance costs, offset by anticipated investment income, exceed the related unearned premiums. A premium deficiency would reduce the value of deferred policy acquisition costs. If the deficiency exceeded the deferred policy acquisition costs, a separate liability would be accrued for the excess deficiency. There was no premium deficiency at December 31, 2014 or 2013.

Unpaid Loss and LAE Reserves

Loss and LAE reserves represent management's best estimate of the ultimate net cost of all reported and unreported losses incurred for the applicable periods, less payments made. The estimated reserves for losses and LAE include the accumulation of estimates for all claims reported prior to the balance sheet date, estimates of claims incurred but not reported, and estimates of expenses for investigating and adjusting all incurred and unadjusted claims (based on projections of relevant historical data). Amounts reported are necessarily subject to the impact of future changes in economic, regulatory and social conditions. Management believes that, subject to the inherent variability in any such estimate, the reserves are within a reasonable and acceptable range of adequacy. Estimates for claims prior to the balance sheet date are continually monitored and reviewed, and as settlements are made or reserves adjusted, the differences are reported in current operations. Salvage and subrogation recoveries are estimated based on a review of the level of historical salvage and subrogation recoveries.

Reinsurance

In the ordinary course of business and consistent with general insurance industry practices, the Company purchases excess of loss reinsurance to protect the Company against the impact of large and/or catastrophic losses in its workers' compensation business. Additionally, the Company is a party to a 100% quota share retroactive reinsurance agreement (see Note 10). This reinsurance reduces the financial impact of such losses on current operations and the equity of the Company. Reinsurance makes the assuming reinsurer liable to the ceding company to the extent of the reinsurance coverage provided. It does not, however, discharge the Company from its liability to its policyholders in the event the reinsurer is unable or unwilling to meet its obligations under its reinsurance agreement with the Company.

Net premiums earned and losses and LAE incurred are stated in the accompanying consolidated statements of comprehensive income after deduction of amounts ceded to reinsurers. Balances due from reinsurers on unpaid losses, including an estimate of such recoverables related to reserves for incurred but not reported losses, are reported as assets and are included in reinsurance recoverables even though amounts due on unpaid losses and LAE are not recoverable from the reinsurer until such losses are paid. Recoverables from reinsurers on unpaid losses and LAE amounted to $669.5 million and $742.7 million at December 31, 2014 and 2013, respectively.

Ceded losses and LAE are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the relevant reinsurance agreement.

The 100% quota share retroactive reinsurance agreement was entered into in 1999 by the Nevada State Industrial Insurance System (the Fund) and assumed by EICN, which the Company refers to as the LPT Agreement (see Note 10). Loss expenses are deemed to be 7% of total losses paid and are paid to the Company as compensation for management of the claims under the LPT Agreement. The Company accounts for this transaction as retroactive reinsurance, whereby the initial deferred gain was recorded as a liability in the accompanying consolidated balance sheets as Deferred reinsurance gain–LPT Agreement. This gain is amortized using the recovery method, whereby the amortization is determined by the proportion of actual reinsurance recoveries to total estimated recoveries through the life of the LPT Agreement, and is recorded in losses and LAE incurred in the accompanying consolidated statements of comprehensive income. Any adjustment to the estimated reserves ceded under the LPT Agreement results in a cumulative adjustment to the Deferred Gain, which is also recognized in losses and LAE incurred in the consolidated statement of comprehensive income, such that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

Additionally, the Company is entitled to receive a contingent profit commission under the LPT Agreement. The contingent profit is equal to 30% of the favorable difference between actual paid losses and LAE and expected paid losses and LAE as established in the LPT Agreement based on losses paid through June 30, 2024. The contingent profit commission is paid every five years beginning June 30, 2004 for the first twenty-five years of the agreement. The Company is paid 30% of the favorable difference between the actual and expected losses and LAE paid at each calculation point. The Company could be required to return any previously received contingent profit commission, plus interest, in the event of unfavorable differences through June 30, 2024. The Company records its estimate of contingent profit commission in the accompanying consolidated balance sheets as Contingent commission receivable–LPT Agreement and a corresponding liability is recorded on the accompanying consolidated balance sheets in Deferred reinsurance gain–LPT Agreement. The Contingent commission receivable–LPT Agreement is reduced as amounts are received from participating reinsurers. In 2014, the Company received $11.7 million in cash related to the contingent profit commission. The related Deferred reinsurance gain–LPT Agreement is amortized using the recovery method. The amortization of the contingent profit commission is determined by the proportion of actual reinsurance recoveries to total estimated recoveries over the life of the contingent profit commission (through June 30, 2024), and is recorded in losses and LAE incurred in the accompanying consolidated statements of comprehensive income. Any adjustment to the contingent profit commission under the LPT Agreement results in a cumulative adjustment to the Deferred Gain, which is also recognized in losses and LAE incurred in the consolidated statement of comprehensive income, such that the Deferred Gain reflects the balance that would have existed had the revised contingent profit commission been recognized at the inception of the LPT Agreement.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation (see Note 7). Expenditures for maintenance and repairs are charged against operations as incurred.

Electronic data processing equipment, software, furniture and equipment, and automobiles are depreciated using the straight-line method over three to seven years. Leasehold improvements are carried at cost less accumulated amortization. The Company amortizes leasehold improvements using the straight-line method over the lesser of the useful life of the asset or the remaining original lease term, excluding options or renewal periods. Leasehold improvements are generally amortized over three to five years.

Obligations Held Under Capital Leases

Leased property and equipment meeting capital lease criteria are capitalized at the lower of the present value of the related lease payments or the fair value of the leased asset at the inception of the lease. Amortization is calculated using the straight-line method based on the term of the lease and is included in the depreciation expense of property and equipment. See Note 12 for additional disclosures related to capital leases.

Income Taxes

The Company's accounting for income taxes considers the current and deferred tax consequences of all transactions that have been recognized in its consolidated financial statements using the provisions of enacted tax laws. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities resulting from a tax rate change affects net income or loss in the period that includes the enactment date of the tax rate change. The Company's income tax returns are subject to audit by the Internal Revenue Service and various state tax authorities. Significant disputes may arise with these tax authorities involving issues of the timing and amount of deductions and allocations of income among various tax jurisdictions because of differing interpretations of tax laws and regulations. The Company periodically evaluates exposures associated with tax filing positions. Although we believe our positions comply with applicable laws, liabilities are recorded based upon estimates of the ultimate outcomes of these matters.

In assessing whether deferred tax assets will be realized, the Company considers whether it is more likely than not that it will generate future taxable income during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, tax planning strategies, and projected future taxable income in making this assessment. If necessary, a valuation allowance is established to reduce the deferred tax assets to the amounts that are more likely than not to be realized.

Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents, investments, premiums receivable, and reinsurance recoverable balances.

Cash equivalents include investments in money market securities and securities backed by the U.S. government. Investments are diversified throughout many industries and geographic regions. The Company limits the amount of credit exposure with any one financial institution and believes that no significant concentration of credit risk exists with respect to cash and cash equivalents and investments.

At December 31, 2014 and 2013, the outstanding premiums receivable balance was generally diversified due to the large number of entities composing the Company's policyholder base and their dispersion across many different industries. The Company also has recoverables from its reinsurers. Reinsurance contracts do not relieve the Company of its obligations to claimants or policyholders. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. The Company obtains collateral to mitigate the risks related to reinsurance insolvencies. At December 31, 2014, $5.6 million was collateralized by cash or letters of credit and an additional $1.5 billion was in trust accounts for reinsurance related to the LPT Agreement.

Fair Value of Financial Instruments

Estimated fair value amounts have been determined using available market information and other appropriate valuation methodologies. Judgment is required in developing the estimates of fair value where quoted market prices are not available. Accordingly, these estimates are not necessarily indicative of the amounts that could be realized in a current market exchange. The use of different market assumptions or estimating methodologies may have an effect on the estimated fair value amounts.

The following methods and assumptions were used by the Company in estimating the fair value for financial instruments in the accompanying consolidated financial statements and in these notes for the years ended 2014 and 2013:

Cash and cash equivalents, premiums receivable, accounts payable, and accrued expenses and other liabilities. The carrying amounts for these financial instruments as reported in the accompanying consolidated balance sheets approximate their fair values.

Investments. The estimated fair values for available-for-sale securities generally represent quoted market prices for securities traded in the public marketplace or estimated values for securities not traded in the public marketplace. Additional data with respect to fair values of the Company's investment securities is disclosed in Note 5.

Goodwill and Other Intangible Assets

The Company tests for impairment of goodwill and non-amortizable intangible assets in the fourth quarter of each year. At the end of each quarter, management considers the results of the previous analysis as well as any recent developments that may constitute triggering events requiring the impairment analysis of goodwill and other intangible assets to be updated. The Company has assessed the effects of current economic conditions on the Company's financial condition and results of operations and changes in the Company's stock price and determined that there were no impairments as of December 31, 2014 and 2013.

Intangible assets related to state licenses are not subject to amortization. Intangibles related to insurance relationships will be amortized in proportion to the expected period of benefit over the next four years.

The gross carrying value, accumulated amortization, and net carrying value for the Company's intangible assets, by major class, as of December 31, were as follows:



	2014							2013
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
	(in thousands)
State licenses	$	7,700	$	—		$	7,700	$	7,700	$	—		$	7,700
Insurance relationships	9,400		$	(8,066	)	1,334		9,400		$	(7,415	)	1,985
Total	$	17,100	$	(8,066	)	$	9,034	$	17,100	$	(7,415	)	$	9,685

During the years ended December 31, 2014, 2013, and 2012, the Company recognized $0.7 million, $0.9 million, and $1.2 million in amortization expenses, respectively. These amortization expenses are included in the accompanying consolidated statements of comprehensive income in underwriting and other operating expenses. Amortization expense is expected to be as follows:



Year	Amount
	(in thousands)
2015	$	489
2016	371
2017	285
2018	189
Total	$	1,334

Stock-Based Compensation

The Company issues stock-based payments, which are recognized in the consolidated statements of comprehensive income based on their estimated fair values over the employees' service period (see Note 14).

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

New Accounting Standards	12 Months Ended
New Accounting Standards	Dec. 31, 2014
New Accounting Standards [Abstract]
New Accounting Standards	Deferred Policy Acquisition Costs In October 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) Number 2010-26, Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts that became effective in 2012. This guidance changed the definition of acquisition costs which may be capitalized to specify costs that relate directly to the successful acquisition of new or renewal insurance contracts, including underwriting, policy issuance and processing, medical and inspection, and sales force contract selling. It also defines incremental direct costs that must be capitalized as costs that result directly from contract transactions that are essential to contract issuance, which would not have been incurred had the contract transaction not occurred. All other costs are expensed as incurred. Capitalized costs are amortized over the life of the contract. The Company adopted this standard on a prospective basis on January 1, 2012. Under the new guidance, the Company capitalized acquisition costs totaling $87.2 million for the year ended December 31, 2012. Under the previous guidance, the amount capitalized would have been $102.5 million for the same period. The total effect of implementing this guidance was a $15.3 million decrease in the amount capitalized and a $8.2 million decrease in the amortization expense for the year ended December 31, 2012. The total amortization expense was $85.9 million for the year ended December 31, 2012. The net effect of implementing this guidance was a $7.1 million increase in underwriting and other operating expense for the year ended December 31, 2012.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 01

-Paragraph b

-Subparagraph 6

-Article 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 270

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 270

-SubTopic 10

-Section 45

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Direct Effects of a Change in Accounting Principle

-URI http://asc.fasb.org/extlink&oid=6510796

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Indirect Effects of a Change in Accounting Principle

-URI http://asc.fasb.org/extlink&oid=6515603

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Accounting Change

-URI http://asc.fasb.org/extlink&oid=6503790

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Change in Accounting Principle

-URI http://asc.fasb.org/extlink&oid=6507316

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 270

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.10-01.(b)(6))

-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Retrospective Application

-URI http://asc.fasb.org/extlink&oid=6523989

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794

+ Details

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2014

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

The carrying value and the estimated fair value of the Company's financial instruments as of December 31, were as follows:



	2014				2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets	(in thousands)
Investments (Note 6)	$	2,448,454	$	2,448,454	$	2,344,858	$	2,344,858
Cash and cash equivalents	103,573		103,573		34,503		34,503
Restricted cash and cash equivalents	10,758		10,758		6,564		6,564
Financial liabilities
Notes payable (Note 11)	$	92,000	$	97,814	$	102,000	$	105,540

The Company's estimates of fair value for financial liabilities are based on the variable interest rate for the Company's existing line of credit to discount future payments on notes payable, and have been determined to be Level 2 fair value measurements, as defined below.

Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based upon the levels of judgment associated with the inputs used to measure their fair value. Level inputs are defined as follows:


•	Level 1 - Inputs are unadjusted quoted market prices for identical assets or liabilities in active markets at the measurement date.


•	Level 2 - Inputs other than Level 1 prices that are observable for similar assets or liabilities through corroboration with market data at the measurement date.


•	Level 3 - Inputs that are unobservable that reflect management's best estimate of what market participants would use in pricing the assets or liabilities at the measurement date.

The following methods and assumptions were used to determine the fair value of each class of assets and liabilities recorded at fair value in the consolidated balance sheets:

Fair values of available-for-sale fixed maturity and equity securities are based on quoted market prices, where available. These fair values are obtained primarily from third party pricing services, which generally use Level 1 or Level 2 inputs. The Company obtains a quoted price for each security from third party pricing services, which are derived through recently reported trades for identical or similar securities. For securities not actively traded, the third party pricing services may use quoted market prices of similar instruments or discounted cash flow analyses, incorporating inputs that are currently observable in the markets for similar securities. Inputs that are often used in the valuation methodologies include, but are not limited to, broker quotes, benchmark yields, credit spreads, default rates, and prepayment speeds. The Company also performs a quarterly analysis on the prices received from third parties to determine whether the prices are reasonable estimates of fair value, including confirming the fair values of these securities through observable market prices using an alternative pricing source. If differences are noted in this review, the Company may obtain additional information from other pricing services to validate the quoted price. There were no adjustments to prices obtained from third party pricing services as of December 31, 2014 or 2013 that were material to the consolidated financial statements.

If quoted market prices and an estimate determined by using objectively verifiable information are unavailable, the Company produces an estimate of fair value based on internally developed valuation techniques, which, depending on the level of observable market inputs, will render the fair value estimate as Level 2 or Level 3. The Company bases all of its estimates of fair value for assets on the bid price as it represents what a third party market participant would be willing to pay in an arm's length transaction.

These methods of valuation will only produce an estimate of fair value if there is objectively verifiable information to produce a valuation. If objectively verifiable information is not available, the Company would be required to produce an estimate of fair value using some of the same methodologies, making assumptions for market based inputs that are unavailable.

Estimates of fair value for fixed maturity securities are based on estimates using objectively verifiable information and are included in the amount disclosed in Level 2 of the hierarchy. The fair value estimates for determining Level 3 fair value include the Company's assumptions about risk assessments and market participant assumptions based on the best information available, including quotes from market makers and other broker/dealers recognized as market participants, using standard or trade derived inputs, new issue data, monthly payment information, cash flow generation, prepayment speeds, spread adjustments, or rating updates.

The following table presents the items in the accompanying consolidated balance sheets that are stated at fair value and the fair value measurements.



	December 31, 2014						December 31, 2013
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
	(in thousands)
Fixed maturity securities
U.S. Treasuries	$	—	$	166,760	$	—	$	—	$	170,897	$	—
U.S. Agencies	—		39,602		—		—		68,118		—
States and municipalities	—		745,764		—		—		735,180		—
Corporate securities	—		908,299		—		—		833,296		—
Residential mortgage-backed securities	—		288,434		—		—		258,431		—
Commercial mortgage-backed securities	—		65,403		—		—		65,110		—
Asset-backed securities	—		61,487		—		—		51,514		—
Total fixed maturity securities	$	—	$	2,275,749	$	—	$	—	$	2,182,546	$	—
Equity securities	$	172,705	$	—	$	—	$	162,312	$	—	$	—

The Company had no Level 3 investment activity during the years ended December 31, 2014 and 2013.

- Definition

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

+ References+ Details

Investments

12 Months Ended

Dec. 31, 2014

Investments [Abstract]

Investments

The cost or amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the Company’s investments were as follows:



	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
At December 31, 2014	(in thousands)
Fixed maturity securities
U.S. Treasuries	$	160,940	$	5,833	$	(13	)	$	166,760
U.S. Agencies	37,217		2,385		—			39,602
States and municipalities	701,549		44,390		(175		)	745,764
Corporate securities	880,701		30,781		(3,183		)	908,299
Residential mortgage-backed securities	278,582		10,603		(751		)	288,434
Commercial mortgage-backed securities	65,536		486		(619		)	65,403
Asset-backed securities	61,594		13		(120		)	61,487
Total fixed maturity securities	2,186,119		94,491		(4,861		)	2,275,749
Equity securities	97,834		75,534		(663		)	172,705
Total investments	$	2,283,953	$	170,025	$	(5,524	)	$	2,448,454

At December 31, 2013
Fixed maturity securities
U.S. Treasuries	$	163,951	$	7,073	$	(127	)	$	170,897
U.S. Agencies	64,985		3,137		(4		)	68,118
States and municipalities	698,979		40,595		(4,394		)	735,180
Corporate securities	814,283		28,671		(9,658		)	833,296
Residential mortgage-backed securities	255,187		7,979		(4,735		)	258,431
Commercial mortgage-backed securities	67,066		316		(2,272		)	65,110
Asset-backed securities	51,613		54		(153		)	51,514
Total fixed maturity securities	2,116,064		87,825		(21,343		)	2,182,546
Equity securities	89,689		72,844		(221		)	162,312
Total investments	$	2,205,753	$	160,669	$	(21,564	)	$	2,344,858

The amortized cost and estimated fair value of fixed maturity securities at December 31, 2014, by contractual maturity, are shown below. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.



	Amortized Cost		Estimated Fair Value
	(in thousands)
Due in one year or less	$	183,379	$	185,911
Due after one year through five years	770,649		803,311
Due after five years through ten years	642,776		670,874
Due after ten years	183,603		200,329
Mortgage and asset-backed securities	405,712		415,324
Total	$	2,186,119	$	2,275,749

The following is a summary of investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or greater as of December 31, 2014 and 2013.



	December 31, 2014						December 31, 2013
	Estimated Fair Value		Gross Unrealized Losses			Number of Issues	Estimated Fair Value		Gross Unrealized Losses			Number of Issues
Less than 12 months:	(dollars in thousands)
Fixed maturity securities
U.S. Treasuries	$	16,916	$	(13	)	7	$	22,242	$	(127	)	7
U.S. Agencies	—		—			—	1,631		(4		)	1
States and municipalities	20,636		(147		)	5	127,965		(4,394		)	34
Corporate securities	109,943		(792		)	42	326,608		(9,536		)	112
Residential mortgage-backed securities	274		(10		)	6	129,586		(4,170		)	58
Commercial mortgage-backed securities	4,602		(34		)	2	35,878		(1,372		)	9
Asset-backed securities	25,750		(44		)	13	25,825		(52		)	13
Total fixed maturity securities	178,121		(1,040		)	75	669,735		(19,655		)	234
Equity securities	10,089		(617		)	15	6,140		(208		)	17
Total less than 12 months	$	188,210	$	(1,657	)	90	$	675,875	$	(19,863	)	251

Greater than 12 months:
Fixed maturity securities
States and municipalities	$	9,052	$	(28	)	2	$	—	$	—		—
Corporate securities	$	129,387	$	(2,391	)	39	$	6,174	$	(122	)	3
Residential mortgage-backed securities	44,092		(741		)	36	5,609		(565		)	11
Commercial mortgage-backed securities	31,280		(585		)	8	9,324		(900		)	3
Asset-backed securities	18,328		(76		)	6	8,938		(101		)	3
Total fixed maturity securities	232,139		(3,821		)	91	30,045		(1,688		)	20
Equity securities	580		(46		)	1	303		(13		)	1
Total greater than 12 months	$	232,719	$	(3,867	)	92	$	30,348	$	(1,701	)	21

Total available-for-sale:
Fixed maturity securities
U.S. Treasuries	$	16,916	$	(13	)	7	$	22,242	$	(127	)	7
U.S. Agencies	—		—			—	1,631		(4		)	1
States and municipalities	29,688		(175		)	7	127,965		(4,394		)	34
Corporate securities	239,330		(3,183		)	81	332,782		(9,658		)	115
Residential mortgage-backed securities	44,366		(751		)	42	135,195		(4,735		)	69
Commercial mortgage-backed securities	35,882		(619		)	10	45,202		(2,272		)	12
Asset-backed securities	44,078		(120		)	19	34,763		(153		)	16
Total fixed maturity securities	410,260		(4,861		)	166	699,780		(21,343		)	254
Equity securities	10,669		(663		)	16	6,443		(221		)	18
Total available-for-sale	$	420,929	$	(5,524	)	182	$	706,223	$	(21,564	)	272

Based on reviews of the fixed maturity securities, the Company determined that unrealized losses for the years ended December 31, 2014 and 2013 were primarily the result of changes in prevailing interest rates and not the credit quality of the issuers. The fixed maturity securities whose fair value was less than amortized cost were not determined to be other-than-temporarily impaired given the severity and duration of the impairment, the credit quality of the issuers, the Company’s intent on not selling the securities, and a determination that it is not more likely than not that the Company will be required to sell the securities until fair value recovers to above amortized cost, or to maturity.

Based on reviews of the equity securities for the years ended December 31, 2014 and 2013, the Company recognized total impairments of $0.5 million and $0.1 million in the fair values of seven and one equity securities as a result of the Company's intent to sell and the severity and duration of the change in fair values of those securities as of December 31, 2014 and 2013, respectively. The remaining unrealized losses on equity securities were not considered to be other than temporary due to the financial condition and near-term prospects of the issuers.

Realized gains on investments, net and the change in unrealized gains (losses) on fixed maturity and equity securities are determined on a specific-identification basis and were as follows:



	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Realized gains on investments, net
Fixed maturity securities
Gross gains	$	1,114		$	761		$	3,779
Gross losses	(1		)	(7		)	(5		)
Realized gains on fixed maturity securities, net	$	1,113		$	754		$	3,774
Equity securities
Gross gains	$	15,761		$	9,093		$	2,156
Gross losses	(536		)	(318		)	(882		)
Realized gains on equity securities, net	$	15,225		$	8,775		$	1,274
Total	$	16,338		$	9,529		$	5,048

Change in unrealized gains/losses
Fixed maturity securities	$	23,147		$	(88,803	)	$	8,803
Equity securities	2,248			28,603			10,935
Total	$	25,395		$	(60,200	)	$	19,738

Net investment income was as follows:



	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Fixed maturity securities	$	70,679		$	69,458		$	71,293
Equity securities	4,185			3,812			3,248
Cash equivalents and restricted cash	71			99			351
	74,935			73,369			74,892
Investment expenses	(2,581		)	(2,605		)	(2,529		)
Net investment income	$	72,354		$	70,764		$	72,363

The Company is required by various state laws and regulations to keep securities or letters of credit in depository accounts with the states in which it does business. As of December 31, 2014 and 2013, securities having a fair value of $783.9 million and $602.4 million, respectively, were on deposit. These laws and regulations govern not only the amount but also the type of security that is eligible for deposit. The deposits are limited to fixed maturity securities in all states. Additionally, certain reinsurance contracts require Company funds to be held in trust for the benefit of the ceding reinsurer to secure the outstanding liabilities assumed by the Company. The fair value of securities held in trust for reinsurance at December 31, 2014 and 2013 was $31.2 million and $32.2 million, respectively. The Company's debt was secured by fixed maturity securities and restricted cash and cash equivalents that had a fair value of $74.6 million and $95.1 million at December 31, 2014 and 2013, respectively.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563

Reference 2: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-Glossary Debt Security

-URI http://asc.fasb.org/extlink&oid=6509901

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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-Glossary Equity Security

-URI http://asc.fasb.org/extlink&oid=6511694

+ Details

Property and Equipment

12 Months Ended

Dec. 31, 2014

Property and Equipment [Abstract]

Property, Plant and Equipment Disclosure

Property and Equipment

Property and equipment consists of the following:



	As of December 31,
	2014			2013
	(in thousands)
Furniture and equipment	$	2,314		$	2,896
Leasehold improvements	4,395			4,439
Computers and software	45,962			38,146
Automobiles	1,230			1,208
	53,901			46,689
Accumulated amortization and depreciation	(32,869		)	(30,073		)
Property and equipment, net	$	21,032		$	16,616

Depreciation and amortization expenses related to property and equipment for the years ended December 31, 2014, 2013, and 2012 were $6.3 million, $5.2 million, and $4.4 million, respectively. Internally developed software costs of $0.8 million were capitalized during each of the years ended December 31, 2014 and 2013.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Income Taxes

The Company files a consolidated federal income tax return. The insurance subsidiaries pay premium taxes on gross premiums written in lieu of some states' income or franchise taxes.

The provision for income taxes consisted of the following:



	Years Ended December 31,
	2014			2013			2012
Current tax expense (benefit):	(in thousands)
Federal	$	6,331		$	89		$	1,964
State	79			22			(312		)
Total current tax expense	6,410			111			1,652
Deferred federal tax benefit	(535		)	(10,761		)	(10,999		)
Income tax expense (benefit)	$	5,875		$	(10,650	)	$	(9,347	)

The difference between the statutory federal tax rate of 35% and the Company's effective tax rate on net income before income taxes as reflected in the consolidated statements of comprehensive income was as follows:



	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Expense computed at statutory rate	$	37,296		$	18,611		$	34,140
Dividends received deduction and tax-exempt interest	(8,778		)	(9,033		)	(9,304		)
Pre-Privatization reserve adjustments, excluding LPT	(3,595		)	(7,400		)	—
LPT deferred gain amortization	(8,365		)	(6,632		)	(9,305		)
LPT Reserve Adjustment	(10,889		)	(6,645		)	(25,672		)
Other	206			449			794
Income tax expense (benefit)	$	5,875		$	(10,650	)	$	(9,347	)

On January 1, 2000, EICN assumed the assets, liabilities, and operations of the Fund pursuant to legislation passed in the 1999 Nevada Legislature (the Privatization). Prior to the Privatization, the Fund was a part of the State of Nevada and therefore was not subject to federal income tax; accordingly, it did not take an income tax deduction with respect to the establishment of its unpaid loss and LAE reserves. Due to favorable loss experience after the Privatization, it was determined that certain of the pre-Privatization unpaid loss and LAE reserves assumed by EICN as part of the Privatization were no longer necessary and the unpaid loss and LAE reserves were reduced accordingly. Such downward adjustments of pre-Privatization unpaid loss reserves increased GAAP net income by $3.6 million and $7.4 million for the years ended December 31, 2014 and 2013, respectively, but did not increase taxable income. There were downward adjustments of pre-Privatization unpaid loss reserves, excluding the LPT, of $13.1 million and $27.2 million for the years ended December 31, 2014 and 2013, respectively.

The LPT Reserve Adjustments for the years ended December 31, 2014, 2013, and 2012 increased GAAP net income by $31.1 million, $19.0 million, and $73.3 million, respectively, but did not increase taxable income. The LPT Contingent Commission Adjustments increased net income by $10.8 million, $4.3 million, and $9.6 million during 2014, 2013, and 2012, respectively, but did not increase taxable income.

As of December 31, 2014 and 2013, the Company had no unrecognized tax benefits.

Tax years 2011 through 2014 are subject to full examination by the federal taxing authority.

The significant components of deferred income taxes, net, were as follows as of December 31:



	2014				2013
	Deferred Tax				Deferred Tax
	Assets		Liabilities		Assets		Liabilities
	(in thousands)
Unrealized capital gains, net	$	—	$	57,575	$	—	$	48,687
Deferred policy acquisition costs	—		15,729		—		15,323
Intangible assets	—		3,162		—		3,390
Loss reserve discounting for tax reporting	56,701		—		57,945		—
Unearned premiums	20,902		—		20,639		—
Allowance for bad debt	2,757		—		2,608		—
Stock based compensation	5,781		—		4,603		—
Accrued liabilities	7,467		—		8,292		—
Minimum tax credit	19,615		—		13,177		—
Net operating loss carryforward	16,185		—		22,832		—
Other	2,519		5,752		1,169		5,803
Total	$	131,927	$	82,218	$	131,265	$	73,203
Deferred income taxes, net	$	49,709			$	58,062

At December 31, 2014, the Company had a $46.2 million net operating loss carryforward. This is due to expire beginning 2031 through 2033.

Deferred tax assets are required to be reduced by a valuation allowance if it is more likely than not that all or some portion of the deferred tax asset will not be realized. Realization of the deferred income tax asset is dependent on the Company generating sufficient taxable income in future years as the deferred income tax charges become currently deductible for tax reporting purposes. Although realization is not assured, management believes that it is more likely than not that the net deferred income tax asset will be realized.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Liability for Unpaid Losses and Loss Adjustment Expenses

12 Months Ended

Dec. 31, 2014

Liability for Unpaid Losses and Loss Adjustment Expenses [Abstract]

Liability for Unpaid Losses and Loss Adjustment Expenses

The following table represents a reconciliation of changes in the liability for unpaid losses and LAE.



	Years Ended December 31,
	2014		2013		2012
	(in thousands)
Unpaid losses and LAE, gross of reinsurance, at beginning of period	$	2,330,491	$	2,231,540	$	2,272,363
Less reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE	743,055		805,386		940,840
Net unpaid losses and LAE at beginning of period	1,587,436		1,426,154		1,331,523
Losses and LAE, net of reinsurance, incurred in:
Current year	503,843		494,579		386,044
Prior years	4,521		6,934		1,800
Total net losses and LAE incurred during the period	508,364		501,513		387,844
Paid losses and LAE, net of reinsurance, related to:
Current year	75,935		78,523		67,672
Prior years	319,680		261,708		225,541
Total net paid losses and LAE during the period	395,615		340,231		293,213
Ending unpaid losses and LAE, net of reinsurance	1,700,185		1,587,436		1,426,154
Reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE	669,481		743,055		805,386
Unpaid losses and LAE, gross of reinsurance, at end of period	$	2,369,666	$	2,330,491	$	2,231,540

Total net losses and LAE included in the above table excludes the impact of the amortization of the Deferred Gain and the LPT Reserve Adjustment (Note 10).

In 2014 and 2012, the increase in the estimate of incurred losses and LAE attributable to insured events in prior years was primarily related to the Company's assigned risk business. In 2013, the increase in the estimate of incurred losses and LAE attributable to insured events in prior years included $5.0 million related to actual paid losses that were more than expected and the impact of new information on selected patterns of claims emergence and payments used in the projection of future loss payments and $1.9 million related to the Company's assigned risk business.

In California, where the Company's operations began on July 1, 2002, the actuaries' and management's initial expectations of ultimate losses and patterns of loss emergence and payment were based on benchmarks derived from analyses of historical insurance industry data in California. No historical data from the Company's California insurance subsidiary existed prior to July 1, 2002; however, some historical data was available for the prior years for some of the market segments the Company entered in California, but was limited as to the number of loss reserve evaluation points available. The industry-based benchmarks were judgmentally adjusted for the anticipated impact of significant environmental changes, specifically the enactment of major changes to the statutory workers' compensation benefit structure and the manner in which claims are administered and adjudicated in California. The actual emergence and payment of claims by the Company's California insurance subsidiary has been more favorable than those initial expectations through 2008, due at least in part to the enactment of the major changes in the California workers' compensation environment; however, our recent loss experience, beginning in 2010, indicates an upward trend in medical costs that is reflected in our loss reserves; however, the Company's indemnity claims frequency (the number of claims expressed as a percentage of payroll) decreased year-over-year in 2014. The Company's estimates assume that increasing medical cost trends will continue and will impact the Company's long-term claims costs and loss reserves.

In Nevada, the Company has compiled a lengthy history of workers' compensation claims payment patterns based on the business of the Fund and EICN, but the emergence and payment of claims in recent years has been more favorable than in the long-term history in Nevada with the Fund. The expected patterns of claim payments and emergence used in the projection of the Company's ultimate claim payments are based on both the long and short-term historical paid data. In recent evaluations, claim patterns have continued to emerge in a manner consistent with short-term historical data. Consequently, for California and Nevada, the Company has relied more heavily on claim projection patterns observed in recent years.

The Company continues to develop its own loss experience in California and will rely more on its experience and less on historical industry data in projecting its reserve requirements as such data becomes available. As the actual experience of the Company emerges, it will continue to evaluate prior estimates, which may result in additional adjustments in reserves.

Loss reserves shown in the consolidated balance sheets are net of $25.1 million and $22.9 million for anticipated subrogation recoveries as of December 31, 2014 and 2013, respectively.

- Definition

The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments.

+ References+ Details

Reinsurance

12 Months Ended

Dec. 31, 2014

Reinsurance [Abstract]

Reinsurance

The Company is involved in the cession and assumption of reinsurance with non-affiliated companies. Risks are reinsured with other companies on both a quota share and excess of loss basis.

Reinsurance transactions reflected in the accompanying consolidated statements of comprehensive income were as follows:



	Years Ended December 31,
	2014						2013						2012
	Written			Earned			Written			Earned			Written			Earned
	(in thousands)
Direct premiums	$	686,763		$	684,296		$	680,459		$	645,449		$	575,373		$	507,770
Assumed premiums	10,949			10,259			9,412			8,305			4,954			4,345
Gross premiums	697,712			694,555			689,871			653,754			580,327			512,115
Ceded premiums	(10,088		)	(10,088		)	(11,405		)	(11,405		)	(10,651		)	(10,651		)
Net premiums	$	687,624		$	684,467		$	678,466		$	642,349		$	569,676		$	501,464
Ceded losses and LAE incurred	$	17,168					$	10,732					$	2,544

Ceded losses and LAE incurred includes the amortization of the Deferred Gain and the LPT Reserve Adjustment.

Excess of Loss Reinsurance

The Company maintains reinsurance for losses from a single occurrence or event in excess of $5.0 million and up to $200.0 million, subject to a $2.0 million annual aggregate deductible and certain exclusions. The reinsurance coverage includes coverage for acts of terrorism, excluding nuclear, biological, chemical, and radiological events. Any liability outside the coverage limits of the reinsurance program is retained by the Company.

LPT Agreement

Recoverables from reinsurers on unpaid losses and LAE amounted to $669.5 million and $742.7 million at December 31, 2014 and 2013, respectively. At each of December 31, 2014 and 2013, $534.8 million and $612.1 million, respectively, of those recoverables was related to the LPT Agreement that was entered into in 1999 by the Fund and assumed by EICN. Under the LPT Agreement, substantially all of the Fund's losses and LAE on claims incurred prior to July 1, 1995, have been ceded to three unaffiliated reinsurers on a 100% quota share basis. Investments have been placed in trust by the three reinsurers as security for payment of the reinsured claims. Under the LPT Agreement, initially $1.5 billion in liabilities for the incurred but unpaid losses and LAE related to claims incurred prior to July 1, 1995, were reinsured for consideration of $775.0 million. The LPT Agreement provides coverage up to $2.0 billion. Through December 31, 2014, the Company has paid losses and LAE claims totaling $668.4 million related to the LPT Agreement.

The Company amortized $13.1 million, $14.6 million, and $17.0 million of the Deferred Gain for the years ended December 31, 2014, 2013, and 2012, respectively. Additionally, the Deferred Gain was reduced by $31.1 million, $19.0 million and $73.3 million for the years ended December 31, 2014, 2013, and 2012, respectively, due to favorable LPT Reserve Adjustments and by $10.8 million, $4.3 million, and $9.6 million for the years ended December 31, 2014, 2013, and 2012, respectively, due to favorable LPT Contingent Commission Adjustments (Note 2).

- Definition

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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+ Details

Notes Payable

12 Months Ended

Dec. 31, 2014

Notes Payable [Abstract]

Notes Payable

Notes payable is comprised of the following:



	December 31,
	2014		2013
	(in thousands)
Amended Credit Facility, due December 31, 2015 with variable interest, as described below	$	60,000	$	70,000
Dekania Surplus Note, due April 30, 2034 with variable interest of 425 basis points above 90-day LIBOR	10,000		10,000
ICONS Surplus Note, due May 26, 2034 with variable interest of 425 basis points above 90-day LIBOR	12,000		12,000
Alesco Surplus Note, due December 15, 2034 with variable interest of 405 basis points above 90-day LIBOR	10,000		10,000
Balance	$	92,000	$	102,000

On December 28, 2010, the Company entered into the Third Amended and Restated Credit Agreement (Amended Credit Facility) with Wells Fargo Bank, National Association (Wells Fargo), under which the Company is provided with: (a) $100.0 million line of credit through December 31, 2011; (b) $90.0 million line of credit from January 1, 2012 through December 31, 2012; (c) $80.0 million line of credit from January 1, 2013 through December 31, 2013; (d) $70.0 million line of credit from January 1, 2014 through December 31, 2014; and (e) $60.0 million line of credit from January 1, 2015 through December 31, 2015. Amounts outstanding bear interest at a rate equal to, at the Company's option: (a) a fluctuating rate of 1.75% above prime rate or (b) a fixed rate that is 1.75% above the LIBOR rate then in effect. The Amended Credit Facility is secured by fixed maturity securities and cash and cash equivalents that had a fair value of $74.6 million at December 31, 2014. The Amended Credit Facility contains customary non-financial covenants and requires EHI to maintain 5% of the aggregate commitment amount of the line of credit in cash and cash equivalents at all times. The Company is currently in compliance with all applicable covenants. Interest paid during the years ended December 31, 2014, 2013, and 2012 totaled $1.4 million, $1.6 million, and $1.9 million, respectively. In accordance with the terms of the contract, a repayment of $10.0 million was made toward the Amended Credit Facility on December 30, 2014.

EPIC has a $10.0 million surplus note to Dekania CDO II, Ltd. issued as part of a pooled transaction. The note matures in 2034 and became callable by the Company in the second quarter of 2009. The terms of the note provide for quarterly interest payments at a rate 425 basis points in excess of the 90-day LIBOR. Both the payment of interest and repayment of the principal under this note and the surplus notes described in the succeeding two paragraphs are subject to the prior approval of the Florida Department of Financial Services. Interest paid during each of the years ended December 31, 2014, 2013, and 2012 was $0.5 million. Interest accrued as of December 31, 2014 and 2013 was $0.1 million.

EPIC has a $12.0 million surplus note to ICONS, Inc. issued as part of a pooled transaction. The note matures in 2034 and became callable by the Company in the second quarter of 2009. The terms of the note provide for quarterly interest payments at a rate 425 basis points in excess of the 90-day LIBOR. Interest paid during each of the years ended December 31, 2014, 2013, and 2012 was $0.5 million, $0.6 million and $0.6 million. Interest accrued as of December 31, 2014 and 2013 was $0.1 million.

EPIC has a $10.0 million surplus note to Alesco Preferred Funding V, LTD issued as part of a pooled transaction. The note matures in 2034 and became callable by the Company in the fourth quarter of 2009. The terms of the note provide for quarterly interest payments at a rate 405 basis points in excess of the 90-day LIBOR. Interest paid during the years ended December 31, 2014, 2013, and 2012 was $0.4 million, $0.4 million, and $0.5 million, respectively. Interest accrued as of December 31, 2014 and 2013 was less than $0.1 million.

Principal payment obligations on notes payable outstanding at December 31, 2014, were as follows:



Year	Principal Due
	(in thousands)
2015	$	60,000
2016	—
2017	—
2018	—
2019	—
Thereafter	32,000
Total	$	92,000

- Definition

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

+ References+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies [Abstract]

Commitments and Contingencies Disclosure

Commitments and Contingencies

Leases

The Company leases office facilities and certain equipment under operating and capital leases. Most leases have renewal options, typically with increased rental rates during the option period. Certain of these leases contain options to purchase the property at amounts that approximate fair market value; other leases contain options to purchase at a bargain purchase price. At December 31, 2014, the remaining lease terms expire over the next five years.

The future lease payments for the next five years on these non-cancelable operating and capital leases at December 31, 2014, were as follows:



Year	Operating Leases		Capital Leases
	(in thousands)
2015	$	4,842	$	621
2016	3,574		320
2017	2,148		320
2018	722		185
2019	87		—
Thereafter	29		—
Total	$	11,402	$	1,446

Included in the future minimum capital lease payments are future interest charges of $0.2 million. Facilities rent expense was $4.8 million, $5.0 million, and $5.2 million for the years ended December 31, 2014, 2013, and 2012, respectively.

Property held under capital leases is included in property and equipment as follows:



Asset Class	2014			2013
	(in thousands)
Computers and software	$	873		$	2,747
Automobiles	1,230			1,208
	2,103			3,955
Accumulated amortization	(950		)	(1,502		)
Total	$	1,153		$	2,453

Contingencies Surrounding Insurance Assessments

All of the states where the Company's insurance subsidiaries are licensed to transact business require property and casualty insurers doing business within the respective state to pay various insurance assessments. The Company accrues a liability for estimated insurance assessments as direct premiums are written, losses are recorded, or as other events occur in accordance with various states' laws and regulations, and defers these costs and recognizes them as an expense as the related premiums are earned. The Company had an accrued liability for guaranty fund assessments, second injury funds assessments, and other insurance assessments totaling $18.8 million and $13.1 million as of December 31, 2014 and 2013, respectively. These liabilities are generally expected to be paid over one to eighty year periods based on individual state's regulations. The Company also recorded an asset of $13.0 million and $5.1 million, as of December 31, 2014 and 2013, respectively, for prepaid policy charges still to be collected in the future from policyholders, assessments that may be recovered through a reduction in future premium taxes in certain states, and for expected refunds of certain prepaid assessments based on a change in the Company's premium over time. These assets are expected to be realized over one to ten year periods in accordance with their type and individual state's regulations.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2014

Stock-Based Compensation [Abstract]

Stock-Based Compensation

The Employers Holdings, Inc. Amended and Restated Equity and Incentive Plan (the Plan) is administered by the Compensation Committee of the Board of Directors, which is authorized to grant, at its discretion, awards to officers, employees, non-employee directors, consultants, and independent contractors. The maximum number of common shares reserved for grants of awards under the Plan was 7,105,838 shares, prior to reductions for grants made. The Plan provides for the grant of stock options (both incentive stock options and nonqualified stock options), stock appreciation rights, shares of restricted stock, restricted stock units (RSUs), performance stock units (PSUs), and other stock-based awards.

As of December 31, 2014, nonqualified stock options, RSUs, and PSUs have been granted, but no incentive stock options, stock appreciation rights, or shares of restricted stock have been granted under the Plan.

Compensation costs are recognized based on expected performance, if applicable, net of any estimated forfeitures on a straight-line basis over the employee requisite service periods. Forfeiture rates are based on historical experience and are adjusted in subsequent periods for differences in actual forfeitures from those estimated. Net stock-based compensation expense recognized in the accompanying consolidated statements of comprehensive income was as follows:



	Years Ended December 31,
	2014		2013		2012
Stock-based compensation expense related to:	(in thousands)
Nonqualified stock options	$	1,223	$	1,715	$	1,958
RSUs	1,908		2,276		2,435
PSUs	2,902		1,631		1,748
Total	6,033		5,622		6,141
Less: related tax benefit	2,112		1,968		1,972
Net stock-based compensation expense	$	3,921	$	3,654	$	4,169

Nonqualified Stock Options

The fair value of the stock options granted is estimated using a Black-Scholes option pricing model that uses the assumptions noted in the following table. During the years ended December 31, 2014, 2013, and 2012, the expected stock price volatility used to value the options granted in 2014, 2013, and 2012 was based on the volatility of the Company's historical stock price since February 2007. The expected term of the options granted in 2014, 2013, and 2012 was calculated using the 'plain-vanilla' calculation provided in the guidance of the Securities and Exchange Commission's Staff Accounting Bulletin No. 107. The dividend yield was calculated using amounts authorized by the Board of Directors. The risk-free interest rate is the yield on the grant date of the options of U.S. Treasury zero coupon securities with a maturity comparable to the expected term of the options.

The Company anticipates issuing new shares upon exercise of stock options.

The fair value of the stock options granted during the years ended December 31, 2014, 2013, and 2012 was calculated using the following weighted average assumptions:



	2014		2013		2012
Expected volatility	39.0	%	40.1	%	42.7	%
Expected life (in years)	4.8		4.8		4.8
Dividend yield	1.2	%	1.1	%	1.4	%
Risk-free interest rate	1.6	%	0.8	%	1.1	%
Weighted average grant date fair values of options granted	$6.66		$7.04		$5.64

Changes in outstanding stock options for the year ended December 31, 2014 were as follows:



	Number of Options		Weighted-Average Exercise Price		Weighted Average Remaining Contractual Life
Options outstanding at December 31, 2011	1,788,706		$	16.90	4.3 years
Granted	242,300		17.02		6.2 years
Exercised	(101,261	)	14.13
Expired	(98,973	)	18.78
Options outstanding at December 31, 2012	1,830,772		16.97		3.7 years
Granted	162,800		22.24		6.2 years
Exercised	(411,295	)	17.89
Expired	(6,900	)	17.00
Forfeited	(28,479	)	18.90
Options outstanding at December 31, 2013	1,546,898		17.24		3.4 years
Granted	141,744		20.87		6.2 years
Exercised	(120,494	)	17.89
Expired	(2,400	)	17.00
Forfeited	(44,458	)	19.99
Options outstanding at December 31, 2014	1,521,290		17.45		2.9 years
Exercisable at December 31, 2014	1,112,098		16.49		2.2 years

At December 31, 2014, the Company had yet to recognize $1.7 million in deferred compensation related to nonqualified stock option grants and expects to recognize these costs on a straight-line basis over the next 39 months. The fair value of options vested and the intrinsic value of outstanding and exercisable options as of December 31, were as follows:



	2014		2013		2012
	(in thousands)
Fair value of options vested	$	1,595	$	1,809	$	1,948
Intrinsic value of outstanding options	9,221		22,288		6,616
Intrinsic value of exercisable options	7,810		15,173		3,918

The intrinsic value of options exercised was $0.5 million, $3.7 million, and $0.5 million for the years ended December 31, 2014, 2013, and 2012.

RSUs

The Company has awarded RSUs to non-employee members of the Board of Directors and certain officers of the Company. The RSUs awarded to non-employee members of the Board of Directors vest on the first anniversary of the award date. RSU grants allow each non-employee Director to decide whether to defer settlement of the RSUs until six months after termination of Board service or settle the RSUs at vesting. Dividend equivalents are granted to Directors who elected to defer settlement of the RSUs after the grants vested. RSUs awarded to officers of the Company have a service vesting period of four years from the date awarded and vest 25% on each of the subsequent four anniversaries of such date. These RSUs are subject to accelerated vesting in certain limited circumstances, such as: retirement, death or disability of the holder, or in connection with a change of control of the Company.

Changes in outstanding RSUs for the year ended December 31, 2014 were as follows:



	Number of RSUs		Weighted Average Grant Date Fair Value
RSUs outstanding at December 31, 2011	418,189		$	16.42
Granted	117,065		17.15
Vested	(128,992	)	16.36
RSUs outstanding at December 31, 2012	406,262		16.65
Granted	84,215		23.57
Forfeited	(10,924	)	18.85
Vested	(121,207	)	15.97
RSUs outstanding at December 31, 2013	358,346		18.44
Granted	87,396		21.02
Forfeited	(16,690	)	20.18
Vested	(122,185	)	18.26
RSUs outstanding at December 31, 2014	306,867		19.15
Vested but unsettled RSUs at December 31, 2014	106,252		17.07

At December 31, 2014, the Company had yet to recognize $2.4 million in deferred compensation related to RSU grants and expects to recognize these costs on a straight-line basis over the next 39 months. The grant date fair value of RSUs vested and the intrinsic value of vested RSUs for the years ended December 31, were as follows:



	2014		2013		2012
	(in thousands)
Grant date fair value of RSUs vested	$	2,231	$	1,936	$	2,110
Intrinsic value of vested RSUs	2,683		2,872		2,235

The intrinsic value of outstanding RSUs was $7.2 million, $11.3 million, and $8.4 million at December 31, 2014, 2013, and 2012.

PSUs

The Company awarded PSUs to certain officers of the Company as follows:



Date of Grant	Target Number Awarded	Fair Value on Date of Grant		Aggregate Fair Value on Date of Grant
				(in thousands)
March 2012⁽¹⁾	158,900	$	17.02	$	2,704
March 2013⁽¹⁾	147,440	22.24		3,279
March 2014⁽¹⁾	125,340	20.87		2,616


(1)	The PSUs have a performance period of three years and are subject to certain performance goals, based on the Company's statutory combined ratio, with payouts that range from 0% to 200% of the target awards. The ultimate payout of the PSUs awarded in 2012 was 200% of the target award.

At December 31, 2014, the Company had yet to recognize $2.2 million in deferred compensation related to PSU grants and expects to recognize these costs on a straight-line basis over the next 24 months. This is based on the expectation of the Company achieving a 12.5% target rate for the 2013 PSUs and 128.0% for the 2014 PSUs.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Statutory Matters

12 Months Ended

Dec. 31, 2014

Stautory Matters [Abstract]

Statutory Financial Data Disclosure

Statutory Matters

Statutory Financial Data

The combined capital stock, surplus, and net income of the Company's insurance subsidiaries (EICN, ECIC, EPIC, and EAC), prepared in accordance with the statutory accounting practices (SAP) of the National Association of Insurance Commissioners (NAIC) as well as SAP permitted by the states of California, Florida, and Nevada, were as follows:



	December 31,
	2014		2013
	(in thousands)
Capital stock and unassigned surplus	$	428,952	$	361,786
Paid in capital	174,900		174,900
Surplus notes	32,000		32,000
Total statutory surplus	$	635,852	$	568,686

Net income for the Company's insurance subsidiaries prepared in accordance with SAP for the years ended December 31, 2014, 2013 and 2012 was $58.6 million, $19.3 million and $13.5 million, respectively.

Treatment of the LPT Agreement, deferred policy acquisition costs, fair value of financial instruments, and the surplus notes (see Notes 5, 10, and 11) are the primary differences in the SAP-basis capital stock and total surplus of the insurance subsidiaries of $635.9 million and $568.7 million, and the GAAP-basis equity of the Company of $686.8 million and $568.7 million as of December 31, 2014 and 2013, respectively. Under SAP accounting, the retroactive reinsurance gain resulting from the LPT Agreement is recorded as a special component of surplus (special surplus funds) in the initial year of the contract, and not reported as unassigned surplus until the Company has recovered amounts in excess of the original consideration paid. The special surplus funds are also reduced by the amount of extraordinary dividends as approved by the Nevada Division of Insurance. Under SAP, the surplus notes are recorded as a separate component of surplus. Under SAP, changes to the estimated contingent profit commission under the LPT Agreement are reflected in commission expense in the period that the estimate is revised.

Insurance Company Dividends

The ability of EHI to pay dividends on the Company's common stock and to pay other expenses will be dependent to a significant extent upon the ability of the Nevada domiciled insurance company, EICN, and the Florida domiciled insurance company, EPIC, to pay dividends to their immediate holding company, Employers Group, Inc. (EGI) and, in turn, the ability of EGI to pay dividends to EHI. ECIC and EAC have the ability to declare and pay dividends to EICN and EPIC, respectively, subject to certain restrictions. The amount of dividends each of the Company's subsidiaries may pay to their immediate parent is limited by the laws of its respective state of domicile.

Nevada law limits the payment of cash dividends by EICN to its parent by providing that payments cannot be made except from available and accumulated surplus, otherwise unrestricted (unassigned), and derived from realized net operating profits and realized and unrealized capital gains. A stock dividend may be paid out of any available surplus. A cash or stock dividend prohibited by these restrictions may only be declared and distributed as an extraordinary dividend upon the prior approval of the Nevada Commissioner of Insurance (Nevada Commissioner). EICN may not pay such an extraordinary dividend or make an extraordinary distribution until the Nevada Commissioner either approves or does not disapprove the payment within 30 days after receiving notice of its declaration. An extraordinary dividend or distribution is defined by statute to include any dividend or distribution of cash or property whose fair market value, together with that of other dividends or distributions made within the preceding 12 months, exceeds the greater of: (a) 10% of EICN's statutory surplus as regards to policyholders at the next preceding December 31; or (b) EICN's statutory net income, not including realized capital gains, for the 12-month period ending at the next preceding December 31. As of December 31, 2014, EICN had positive unassigned surplus of $372.3 million. During 2014, EICN did not pay any dividends. The maximum dividends that may be paid in 2015 by EICN without prior approval is $37.4 million.

Under Florida law, without regulatory approval, EPIC may pay dividends if they do not exceed the greater of: the lesser of 10% of surplus or net income, not including realized capital gains, plus a 2-year carry forward; 10% of surplus, with dividends payable limited to unassigned funds minus 25% of unrealized capital gains; or, the lesser of 10% of surplus or net investment income plus a 3-year carry forward with dividends payable limited to unassigned funds minus 25% of unrealized capital gains. During 2014, EPIC did not pay any dividends. The maximum dividends that may be paid in 2015 by EPIC without prior approval is $26.1 million.

Regulatory Requirements and Restrictions

ECIC is subject to regulation by the California Department of Insurance (California DOI). The ability of ECIC to pay dividends was further limited by restrictions imposed by the California DOI in its approval of the Company's October 1, 2008 reinsurance pooling agreement. Under that approval: (a) ECIC must initiate discussions of its business plan with the California DOI if its net written premium to policyholder surplus ratio exceeds 1.5 to 1; (b) ECIC will not exceed a ratio of net written premium to policyholder surplus of 2 to 1 without approval of the California DOI; (c) if at any time ECIC's policyholder surplus decreases to 80% or less than the September 30, 2008 balance, ECIC shall cease issuing new policies in California, but may continue to renew existing policies until it has (i) received a capital infusion to bring its surplus position to the same level as that as of September 30, 2008 and (ii) submitted a new business plan to the California DOI; (d) ECIC will maintain a risk based capital (RBC) level of at least 350% of the authorized control level; (e) should ECIC fail to comply with any commitments listed herein, ECIC will consent to any request by the California DOI to cease issuing new policies in California, but may continue to renew existing policies until such time that as ECIC is able to achieve full compliance with each commitment; and (f) the obligations listed shall only terminate with the written consent of the California DOI. During the years ended December 31, 2014, 2013, and 2012, ECIC was in compliance with these requirements.

EPIC and EAC are subject to regulation by the Florida Department of Financial Services (FDFS). Florida statute Section 624.408 requires EPIC and EAC to maintain minimum capital and surplus of the greater of $4.0 million or 10% of total liabilities. Florida statute Section 624.4095 requires EPIC and EAC to maintain a ratio of written premiums times 1.25 to surplus of no greater than 10-to-1 for gross written premiums and 4-to-1 for net written premiums. During the years ended December 31, 2014, 2013, and 2012, EPIC and EAC were in compliance with these statutes.

Additionally, EICN, ECIC, EPIC, and EAC are required to comply with NAIC RBC requirements. RBC is a method of measuring the amount of capital appropriate for an insurance company to support its overall business operations in light of its size and risk profile. NAIC RBC standards are used by regulators to determine appropriate regulatory actions relating to insurers that show signs of weak or deteriorating conditions. As of December 31, 2014, 2013, and 2012, EICN, ECIC, EPIC, and EAC each had total adjusted capital above all regulatory action levels.

Accumulated Other Comprehensive Income, Net

12 Months Ended

Dec. 31, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income, Net

Accumulated other comprehensive income, net, is comprised of unrealized gains on investments classified as available-for-sale, net of deferred tax expense. The following table summarizes the components of accumulated other comprehensive income, net:



	Years Ended December 31,
	2014			2013
	(in thousands)
Net unrealized gain on investments, before taxes	$	164,500		$	139,105
Deferred tax expense	(57,575		)	(48,687		)
Total accumulated other comprehensive income, net	$	106,925		$	90,418

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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-Section 45

-Paragraph 11

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-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

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-Glossary Reclassification Adjustments

-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share includes no dilution and is computed by dividing income applicable to stockholders by the weighted average number of shares outstanding for the period. Diluted earnings per share reflect the potential dilutive impact of all convertible securities on earnings per share. Diluted earnings per share includes shares assumed issued under the “treasury stock method,” which reflects the potential dilution that would occur if outstanding RSUs and PSUs vested, and options were to be exercised.

The following table presents the net income and the weighted average shares outstanding used in the earnings per share calculations.



	Years Ended December 31,
	2014		2013		2012
	(in thousands, except share data)
Net income available to stockholders–basic and diluted	$	100,684	$	63,824	$	106,891
Weighted average number of shares outstanding–basic	31,529,621		31,142,534		31,476,056
Effect of dilutive securities:
Nonqualified stock options	223,811		464,334		104,837
PSUs	264,511		177,040		—
RSUs	51,126		154,259		141,164
Dilutive potential shares	539,448		795,633		246,001
Weighted average number of shares outstanding–diluted	32,069,069		31,938,167		31,722,057

Diluted earnings per share exclude outstanding options and other common stock equivalents in periods where the inclusion of such options and common stock equivalents would be anti-dilutive. The following table presents options, PSUs and RSUs that were excluded from diluted earnings per share.



	Years Ended December 31,
	2014	2013	2012
Options excluded as the exercise price was greater than the average market price	173,247	—	900,180
Options, PSUs and RSUs excluded under the treasury method, as the potential proceeds on settlement or exercise was greater than the value of shares acquired	260,171	162,800	401,200

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

Selecled Quarterly Financial Data (Unaudited) [Abstract]

Quarterly Financial Information

Selected Quarterly Financial Data (Unaudited)

Quarterly results for the years ended December 31, 2014 and 2013 were as follows:



	2014 Quarters Ended
	March 31		June 30		September 30		December 31
	(in thousands, except per share data)
Net premiums earned	$	167,154	$	172,659	$	172,053	$	172,601
Realized gains on investments, net	3,259		9,167		1,776		2,136
Losses and loss adjustment expenses	122,256		98,524		122,357		110,217
Commission expense	20,075		20,301		20,607		20,399
Underwriting and other operating expenses	33,301		33,156		31,854		30,856
Income tax expense	1,318		1,951		1,295		1,311
Net income	10,753		45,597		15,200		29,134
Earnings per common share:
Basic	0.34		1.45		0.48		0.92
Diluted	0.34		1.42		0.47		0.91



	2013 Quarters Ended
	March 31			June 30		September 30			December 31
	(in thousands, except per share data)
Net premiums earned	$	147,975		$	159,953	$	164,429		$	169,992
Realized gains on investments, net	794			3,866		1,075			3,794
Losses and loss adjustment expenses	108,272			112,638		105,767			136,902
Commission expense	18,393			20,127		19,946			19,792
Underwriting and other operating expenses	31,540			32,249		32,493			29,042
Income tax (benefit) expense	(226		)	1,209		(3,274		)	(8,359		)
Net income	7,490			14,588		27,585			14,161
Earnings per common share:
Basic	0.24			0.47		0.88			0.45
Diluted	0.24			0.46		0.86			0.44

Fourth Quarter Adjustments

The fourth quarter of 2014 was impacted by two changes in estimates, including: (1) a favorable LPT Reserve Adjustment, which reduced the Company's losses and LAE by $8.8 million, and increased net income by $8.8 million, or $0.28 and $0.27 per basic and diluted share, respectively; and (2) an LPT Contingent Commission Adjustment, which reduced the Company's losses and LAE by $2.9 million, resulting in an increase to net income of $2.9 million, or $0.09 per basic and diluted share, respectively. See Note 2.

The fourth quarter of 2013 was impacted by two changes in estimates, including: (1) a favorable LPT Reserve Adjustment, which reduced the Company's losses and LAE by $8.9 million, and increased net income by $8.9 million, or $0.28 per basic and diluted share, respectively; and (2) an LPT Contingent Commission Adjustment, which reduced the Company's losses and LAE by $2.7 million, resulting in an increase to net income of $2.7 million, or $0.09 and $0.08 per basic and diluted share, respectively. See Note 2.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Schedule II. Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2014

Notes to Condensed Financial Statments [Abstract]

Schedule II. Condensed Financial Information of Registrant



Employers Holdings, Inc.

Condensed Balance Sheets

	December 31,
	2014			2013
	(in thousands, except share data)
Assets
Investments:
Investment in subsidiaries	$	567,069		$	447,619
Investment in fixed maturity securities available-for-sale (amortized cost $83,334 in 2014 and $108,890 in 2013)	86,710			114,152
Equity Securities at fair value (amortized cost $48,597 in 2014 and $42,861 in 2013)	58,580			52,503
Total investments	712,359			614,274

Cash and cash equivalents	10,858			6,371
Restricted cash and cash equivalents	4,644			567
Intercompany receivable	270			—
Federal income taxes receivable	6,660			7,427
Deferred income taxes, net	13,909			11,039
Other assets	1,911			2,702
Total assets	$	750,611		$	642,380

Liabilities and stockholders' equity
Accounts payable and accrued expenses	$	3,767		$	2,514
Intercompany payable	—			1,163
Notes payable	60,000			70,000
Total liabilities	63,767			73,677

Stockholders' equity:
Common stock, $0.01 par value; 150,000,000 shares authorized 54,866,802 and 54,672,904 shares issued and 31,493,828 and 31,299,930 shares outstanding at December 31, 2014 and 2013, respectively	549			547
Preferred stock, $0.01 par value; 25,000,000 shares authorized non-issued	—			—
Additional paid-in capital	346,602			338,090
Retained earnings	595,318			502,198
Accumulated other comprehensive income, net	106,925			90,418
Treasury stock, at cost (23,372,974 shares at December 31, 2014 and 2013)	(362,550		)	(362,550		)
Total stockholders' equity	686,844			568,703
Total liabilities and stockholders' equity	$	750,611		$	642,380

See accompanying notes.



Employers Holdings, Inc.

Condensed Statements of Income

	Years Ended December 31,
	2014			2013			2012
	(in thousands, except per share data)
Revenues
Net investment income	$	5,208		$	5,995		$	6,590
Realized gains on investments	5,739			4,273			623
Total revenues	10,947			10,268			7,213

Expenses
Other operating expenses	13,504			11,988			13,889
Interest expense	1,400			1,621			1,880
Total expenses	14,904			13,609			15,769

Loss before income taxes and equity in earnings of subsidiary	(3,957		)	(3,341		)	(8,556		)
Income tax benefit	(2,616		)	(1,513		)	(4,109		)
Net loss before equity in earnings of subsidiary	(1,341		)	(1,828		)	(4,447		)
Equity in net income of subsidiary	102,025			65,652			111,338
Net income	$	100,684		$	63,824		$	106,891

Earnings per common share for the stated periods (Note 18):
Basic	$	3.19		$	2.05		$	3.40
Diluted	$	3.14		$	2.00		$	3.37

Cash dividends declared per common share	$	0.24		$	0.24		$	0.24

See accompanying notes.



Employers Holdings, Inc.

Condensed Statement of Cash Flows

	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Operating activities
Net income	$	100,684		$	63,824		$	106,891
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in net income of subsidiary	(102,025		)	(65,652		)	(111,338		)
Realized gains on investments	(5,739		)	(4,273		)	(623		)
Stock-based compensation	6,033			5,622			6,141
Excess tax benefits from stock-based compensation	(1,156		)	—			—
Amortization of premium or investments, net	986			1,305			1,734
Deferred income tax expense	(2,244		)	(486		)	(2,511		)
Change in operating assets and liabilities:
Accounts payable and accrued expenses	1,253			(1,680		)	1,929
Federal income taxes	767			(1,778		)	(9,636		)
Other assets	792			115			796
Intercompany payable/receivable	(1,433		)	5,553			9
Other	901			—			—
Net cash (used in) provided by operating activities	(1,181		)	2,550			(6,608		)

Investing activities
Purchase of fixed maturity securities	(12,045		)	(29,485		)	—
Purchase of equity securities	(20,696		)	(23,599		)	(23,909		)
Proceeds from sale of fixed maturity securities	4,066			35,466			—
Proceeds from maturities and redemptions of investments	32,600			17,645			47,677
Proceeds from sale of equity securities	20,649			15,473			8,843
Cash dividends received from subsidiary	—			3,555			—
Capital contributions to subsidiary	—			(44,023		)	(70,000		)
Change in restricted cash equivalents	(4,077		)	(367		)	1,818
Net cash provided by (used in) investing activities	20,497			(25,335		)	(35,571		)

Financing activities
Acquisition of treasury stock	—			—			(41,795		)
Cash transactions related to stock-based compensation	1,555			6,462			839
Dividends paid to stockholders	(7,540		)	(7,455		)	(7,508		)
Payments on notes payable	(10,000		)	(10,000		)	(10,000		)
Excess tax benefits from stock-based compensation	1,156			—			—
Net cash used in financing activities	(14,829		)	(10,993		)	(58,464		)

Net increase (decrease) in cash and cash equivalents	4,487			(33,778		)	(100,643		)
Cash and cash equivalents at the beginning of the period	6,371			40,149			140,792
Cash and cash equivalents at the end of the period	$	10,858		$	6,371		$	40,149

See accompanying notes.

1. Nature of Operations and Summary of Significant Accounting Policies

Operations and Basis of Presentation

Employers Holdings, Inc. (EHI) is a Nevada holding company. Through its wholly owned insurance subsidiaries, Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC), and Employers Assurance Company (EAC), EHI is engaged in the commercial property and casualty insurance industry, specializing in workers' compensation products and services. Unless otherwise indicated, all references to the “Company” refer to EHI, together with its subsidiaries.

EHI prepares its condensed financial statements in accordance with U.S. generally accepted accounting principles (GAAP), using the equity method. Under the equity method, the investment in subsidiary is stated at cost plus equity in earnings of its subsidiary. EHI receives dividends from its insurance subsidiaries in the form of cash and securities. The book value for these securities is stated at the fair market value at the date of transfer. These condensed financial statements should be read in conjunction with EHI's consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

Estimates and Assumptions

The preparation of the financial statements in conformity 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 revenue and expenses during the reporting period. As a result, actual results could differ from these estimates.

2. Income Taxes

EHI files a consolidated federal income tax return with its subsidiaries and has a tax allocation agreement with its subsidiaries. The equity in the undistributed earnings of subsidiaries included in the accompanying condensed statements of income is net of income taxes.

3. Investments



	Amortized Cost		Estimated Fair Value
	(in thousands)
Due in one year or less	$	22,269	$	22,605
Due after one year through five years	33,554		35,363
Due after five years through ten years	10,411		10,592
Due after ten years	10,096		11,155
Mortgage and asset-backed securities	7,004		6,995
Total	$	83,334	$	86,710

At December 31, 2014, the fixed maturity securities had unrealized gains of $3.4 million which are included in accumulated comprehensive income, net in the accompanying condensed balance sheets.

During 2014, EHI purchased equity securities and utilized market quotations to determine their fair values.

4. Notes Payable

On December 28, 2010, EHI and Wells Fargo Bank, National Association (Wells Fargo) entered into the Amended Credit Facility. See Note 11 of the Consolidated Financial Statements of Employers Holdings, Inc. and Subsidiaries included herein for a description of the terms of the Amended Credit Facility. Interest paid during the years ended December 31, 2014, 2013, and 2012 totaled $1.4 million, $1.6 million, and $1.9 million, respectively. In accordance with the terms of the contract, a repayment of $10.0 million was made toward the Amended Credit Facility on December 30, 2014. The Amended Credit Facility is secured by fixed maturity securities and cash and cash equivalents that had a fair value of $74.6 million at December 31, 2014.

5. Stock-Based Compensation

During 2014, EHI awarded 141,744 non-qualified stock options to officers, 87,396 RSUs to non-employee Directors and officers, and 125,340 PSUs to officers. During 2013, EHI awarded 162,800 non-qualified stock options to officers, 84,215 RSUs to non-employee Directors and officers, and 147,440 PSUs to officers. See Note 14 of the Consolidated Financial Statements of Employers Holdings, Inc. and Subsidiaries included herein for a detailed description of the stock-based compensation.

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References+ Details

Schedule VI. Supplemental Information

12 Months Ended

Dec. 31, 2014

Supplemental Information for Property, Casualty Insurance Underwriters [Abstract]

Schedule of Supplemental Information for Property, Casualty Insurance Underwriters



Schedule VI. Supplemental Information Concerning Property - Casualty Insurance Operations

Employers Holdings, Inc. and Subsidiaries
Consolidated Supplemental Information Concerning Property and Casualty Insurance Operations

Year Ended	Deferred Policy Acquisition Costs		Reserves For Unpaid Losses And LAE		Unearned Premiums		Net Premiums Earned		Net Investment Income		Losses and LAE Related to Current Years		Losses and LAE Related to Prior Years		Amortization of Deferred Policy Acquisition Costs		Paid Losses And LAE		Net Premiums Written
(in thousands)
2014	$	44,600	$	2,369,666	$	310,778	$	684,467	$	72,354	$	503,843	$	4,521	$	102,700	$	395,615	$	687,624
2013	43,532		2,330,491		303,967		642,349		70,764		494,579		6,934		96,903		340,231		678,466
2012	38,852		2,231,540		265,149		501,464		72,363		386,044		1,800		85,926		293,213		569,676

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Cash and Cash Equivalents, Policy

Cash and Cash Equivalents

The Company considers all highly liquid investments with an initial maturity of three months or less at the date of purchase to be cash equivalents.

Restricted Cash and Cash Equivalents, Policy

Restricted Cash and Cash Equivalents

Investments, Policy

Investments

Realized capital gains and losses on investments are determined on a specific-identification basis.

Revenue Recognition, Policy

Revenue Recognition

Deferred Policy Acquisition Costs, Policy

Deferred Policy Acquisition Costs

Unpaid Loss and LAE Reserves, Policy

Unpaid Loss and LAE Reserves

Reinsurance, Policy

Reinsurance

Ceded losses and LAE are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the relevant reinsurance agreement.

Property, and Equipment, Policy

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation (see Note 7). Expenditures for maintenance and repairs are charged against operations as incurred.

Obligations Held Under Capital Leases, Policy

Obligations Held Under Capital Leases

Income Taxes, Policy

Income Taxes

Credit Risk, Policy

Credit Risk

Fair Value of Financial Instruments, Policy

Fair Value of Financial Instruments

Goodwill and Other Intangible Assets, Policy

Goodwill and Other Intangible Assets

The gross carrying value, accumulated amortization, and net carrying value for the Company's intangible assets, by major class, as of December 31, were as follows:



	2014							2013
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
	(in thousands)
State licenses	$	7,700	$	—		$	7,700	$	7,700	$	—		$	7,700
Insurance relationships	9,400		$	(8,066	)	1,334		9,400		$	(7,415	)	1,985
Total	$	17,100	$	(8,066	)	$	9,034	$	17,100	$	(7,415	)	$	9,685



Year	Amount
	(in thousands)
2015	$	489
2016	371
2017	285
2018	189
Total	$	1,334

Stock-based Compensation, Policy

Stock-Based Compensation

Changes in Estimates (Tables)

12 Months Ended

Dec. 31, 2014

Changes in Estimates [Abstract]

Change to Contingent Profit Commission [Table Text Block]



	2014			2013			2012
	(in thousands, except per share data)
Cumulative adjustment to the deferred reinsurance gain - LPT Agreement (Deferred Gain)⁽¹⁾	$	(10,846	)	$	(4,348	)	$	(9,609	)
Net income impact of change in estimate	10,846			4,348			9,609
EPS impact of change in estimate
Basic	0.34			0.14			0.31
Diluted	0.34			0.14			0.30


(1)	The cumulative adjustments to the Deferred Gain were also recognized in losses and LAE incurred in the consolidated statement of comprehensive income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

Change Due to Estimated Reserves Ceded Under the LPT Agreement [Table Text Block]



	2014			2013			2012
	(in thousands, except per share data)
Change in estimated reserves ceded under the LPT Agreement	$	(46,800	)	$	(27,500	)	$	(100,000	)
Cumulative adjustment to the Deferred Gain⁽¹⁾	(31,112		)	(18,986		)	(73,349		)
Net income impact of change in estimate	31,112			18,986			73,349
EPS impact of change in estimate
Basic	0.99			0.61			2.33
Diluted	0.97			0.59			2.31


(1)	The cumulative adjustments to the Deferred Gain were also recognized in losses and LAE incurred in the consolidated statement of comprehensive income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

Change in Reserves for Non-taxable Periods [Table Text Block]



	2014			2013
	(in thousands, except per share data)
Reserves reallocated to taxable years	$	13,121		$	27,159
Impact to effective tax rate	(3.4		)%	(13.9		)%
Net income impact of change in estimate	$	3,595		$	7,400
EPS impact of change in estimate
Basic	0.11			0.24
Diluted	0.11			0.23

Change to Estimate of its Guaranty Fund Assessment Liability [Table Text Block]



	2012
	(in thousands, except per share data)
Impact to accrued liability for guaranty fund assessments	$	(2,870	)
Reduction the premium tax asset	680
Reduction in deferred acquisition costs (DAC)	764
Impact to underwriting and other operating expense	(1,426		)
Impact to income taxes	267
Net income impact of change in estimate	$	1,159
EPS impact of change in estimate
Basic and Diluted	0.04

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Schedule of intangible assets table

The gross carrying value, accumulated amortization, and net carrying value for the Company's intangible assets, by major class, as of December 31, were as follows:



	2014							2013
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
	(in thousands)
State licenses	$	7,700	$	—		$	7,700	$	7,700	$	—		$	7,700
Insurance relationships	9,400		$	(8,066	)	1,334		9,400		$	(7,415	)	1,985
Total	$	17,100	$	(8,066	)	$	9,034	$	17,100	$	(7,415	)	$	9,685

Expected amortization expense table

Amortization expense is expected to be as follows:



Year	Amount
	(in thousands)
2015	$	489
2016	371
2017	285
2018	189
Total	$	1,334

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value of Financial Instruments [Abstract]

Estimated fair value of financial instruments table

The carrying value and the estimated fair value of the Company's financial instruments as of December 31, were as follows:



	2014				2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets	(in thousands)
Investments (Note 6)	$	2,448,454	$	2,448,454	$	2,344,858	$	2,344,858
Cash and cash equivalents	103,573		103,573		34,503		34,503
Restricted cash and cash equivalents	10,758		10,758		6,564		6,564
Financial liabilities
Notes payable (Note 11)	$	92,000	$	97,814	$	102,000	$	105,540

Fair value, assets and liabilities measured on recurring basis table

The following table presents the items in the accompanying consolidated balance sheets that are stated at fair value and the fair value measurements.



	December 31, 2014						December 31, 2013
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
	(in thousands)
Fixed maturity securities
U.S. Treasuries	$	—	$	166,760	$	—	$	—	$	170,897	$	—
U.S. Agencies	—		39,602		—		—		68,118		—
States and municipalities	—		745,764		—		—		735,180		—
Corporate securities	—		908,299		—		—		833,296		—
Residential mortgage-backed securities	—		288,434		—		—		258,431		—
Commercial mortgage-backed securities	—		65,403		—		—		65,110		—
Asset-backed securities	—		61,487		—		—		51,514		—
Total fixed maturity securities	$	—	$	2,275,749	$	—	$	—	$	2,182,546	$	—
Equity securities	$	172,705	$	—	$	—	$	162,312	$	—	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investments [Abstract]

Available-for-sale securities table

The cost or amortized cost, gross unrealized gains, gross unrealized losses, and estimated fair value of the Company’s investments were as follows:



	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
At December 31, 2014	(in thousands)
Fixed maturity securities
U.S. Treasuries	$	160,940	$	5,833	$	(13	)	$	166,760
U.S. Agencies	37,217		2,385		—			39,602
States and municipalities	701,549		44,390		(175		)	745,764
Corporate securities	880,701		30,781		(3,183		)	908,299
Residential mortgage-backed securities	278,582		10,603		(751		)	288,434
Commercial mortgage-backed securities	65,536		486		(619		)	65,403
Asset-backed securities	61,594		13		(120		)	61,487
Total fixed maturity securities	2,186,119		94,491		(4,861		)	2,275,749
Equity securities	97,834		75,534		(663		)	172,705
Total investments	$	2,283,953	$	170,025	$	(5,524	)	$	2,448,454

At December 31, 2013
Fixed maturity securities
U.S. Treasuries	$	163,951	$	7,073	$	(127	)	$	170,897
U.S. Agencies	64,985		3,137		(4		)	68,118
States and municipalities	698,979		40,595		(4,394		)	735,180
Corporate securities	814,283		28,671		(9,658		)	833,296
Residential mortgage-backed securities	255,187		7,979		(4,735		)	258,431
Commercial mortgage-backed securities	67,066		316		(2,272		)	65,110
Asset-backed securities	51,613		54		(153		)	51,514
Total fixed maturity securities	2,116,064		87,825		(21,343		)	2,182,546
Equity securities	89,689		72,844		(221		)	162,312
Total investments	$	2,205,753	$	160,669	$	(21,564	)	$	2,344,858

Investments classified by contractual maturity date table



	Amortized Cost		Estimated Fair Value
	(in thousands)
Due in one year or less	$	183,379	$	185,911
Due after one year through five years	770,649		803,311
Due after five years through ten years	642,776		670,874
Due after ten years	183,603		200,329
Mortgage and asset-backed securities	405,712		415,324
Total	$	2,186,119	$	2,275,749



	Amortized Cost		Estimated Fair Value
	(in thousands)
Due in one year or less	$	22,269	$	22,605
Due after one year through five years	33,554		35,363
Due after five years through ten years	10,411		10,592
Due after ten years	10,096		11,155
Mortgage and asset-backed securities	7,004		6,995
Total	$	83,334	$	86,710

Unrealized loss on investments table



	December 31, 2014						December 31, 2013
	Estimated Fair Value		Gross Unrealized Losses			Number of Issues	Estimated Fair Value		Gross Unrealized Losses			Number of Issues
Less than 12 months:	(dollars in thousands)
Fixed maturity securities
U.S. Treasuries	$	16,916	$	(13	)	7	$	22,242	$	(127	)	7
U.S. Agencies	—		—			—	1,631		(4		)	1
States and municipalities	20,636		(147		)	5	127,965		(4,394		)	34
Corporate securities	109,943		(792		)	42	326,608		(9,536		)	112
Residential mortgage-backed securities	274		(10		)	6	129,586		(4,170		)	58
Commercial mortgage-backed securities	4,602		(34		)	2	35,878		(1,372		)	9
Asset-backed securities	25,750		(44		)	13	25,825		(52		)	13
Total fixed maturity securities	178,121		(1,040		)	75	669,735		(19,655		)	234
Equity securities	10,089		(617		)	15	6,140		(208		)	17
Total less than 12 months	$	188,210	$	(1,657	)	90	$	675,875	$	(19,863	)	251

Greater than 12 months:
Fixed maturity securities
States and municipalities	$	9,052	$	(28	)	2	$	—	$	—		—
Corporate securities	$	129,387	$	(2,391	)	39	$	6,174	$	(122	)	3
Residential mortgage-backed securities	44,092		(741		)	36	5,609		(565		)	11
Commercial mortgage-backed securities	31,280		(585		)	8	9,324		(900		)	3
Asset-backed securities	18,328		(76		)	6	8,938		(101		)	3
Total fixed maturity securities	232,139		(3,821		)	91	30,045		(1,688		)	20
Equity securities	580		(46		)	1	303		(13		)	1
Total greater than 12 months	$	232,719	$	(3,867	)	92	$	30,348	$	(1,701	)	21

Total available-for-sale:
Fixed maturity securities
U.S. Treasuries	$	16,916	$	(13	)	7	$	22,242	$	(127	)	7
U.S. Agencies	—		—			—	1,631		(4		)	1
States and municipalities	29,688		(175		)	7	127,965		(4,394		)	34
Corporate securities	239,330		(3,183		)	81	332,782		(9,658		)	115
Residential mortgage-backed securities	44,366		(751		)	42	135,195		(4,735		)	69
Commercial mortgage-backed securities	35,882		(619		)	10	45,202		(2,272		)	12
Asset-backed securities	44,078		(120		)	19	34,763		(153		)	16
Total fixed maturity securities	410,260		(4,861		)	166	699,780		(21,343		)	254
Equity securities	10,669		(663		)	16	6,443		(221		)	18
Total available-for-sale	$	420,929	$	(5,524	)	182	$	706,223	$	(21,564	)	272

Net realized gains and change in unrealized gains (losses), available for sale securities table

Realized gains on investments, net and the change in unrealized gains (losses) on fixed maturity and equity securities are determined on a specific-identification basis and were as follows:



	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Realized gains on investments, net
Fixed maturity securities
Gross gains	$	1,114		$	761		$	3,779
Gross losses	(1		)	(7		)	(5		)
Realized gains on fixed maturity securities, net	$	1,113		$	754		$	3,774
Equity securities
Gross gains	$	15,761		$	9,093		$	2,156
Gross losses	(536		)	(318		)	(882		)
Realized gains on equity securities, net	$	15,225		$	8,775		$	1,274
Total	$	16,338		$	9,529		$	5,048

Change in unrealized gains/losses
Fixed maturity securities	$	23,147		$	(88,803	)	$	8,803
Equity securities	2,248			28,603			10,935
Total	$	25,395		$	(60,200	)	$	19,738

Investment income table

Net investment income was as follows:



	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Fixed maturity securities	$	70,679		$	69,458		$	71,293
Equity securities	4,185			3,812			3,248
Cash equivalents and restricted cash	71			99			351
	74,935			73,369			74,892
Investment expenses	(2,581		)	(2,605		)	(2,529		)
Net investment income	$	72,354		$	70,764		$	72,363

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References+ Details

- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

+ References+ Details

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2014

Property and Equipment [Abstract]

Property, plant and equipment table

Property and equipment consists of the following:



	As of December 31,
	2014			2013
	(in thousands)
Furniture and equipment	$	2,314		$	2,896
Leasehold improvements	4,395			4,439
Computers and software	45,962			38,146
Automobiles	1,230			1,208
	53,901			46,689
Accumulated amortization and depreciation	(32,869		)	(30,073		)
Property and equipment, net	$	21,032		$	16,616

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes [Abstract]

Summary of income tax contingencies table

The provision for income taxes consisted of the following:



	Years Ended December 31,
	2014			2013			2012
Current tax expense (benefit):	(in thousands)
Federal	$	6,331		$	89		$	1,964
State	79			22			(312		)
Total current tax expense	6,410			111			1,652
Deferred federal tax benefit	(535		)	(10,761		)	(10,999		)
Income tax expense (benefit)	$	5,875		$	(10,650	)	$	(9,347	)

Reconciliation of federal staturoty income tax rates to the effective tax rates table



	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Expense computed at statutory rate	$	37,296		$	18,611		$	34,140
Dividends received deduction and tax-exempt interest	(8,778		)	(9,033		)	(9,304		)
Pre-Privatization reserve adjustments, excluding LPT	(3,595		)	(7,400		)	—
LPT deferred gain amortization	(8,365		)	(6,632		)	(9,305		)
LPT Reserve Adjustment	(10,889		)	(6,645		)	(25,672		)
Other	206			449			794
Income tax expense (benefit)	$	5,875		$	(10,650	)	$	(9,347	)

Deferred tax assets and liabilities

The significant components of deferred income taxes, net, were as follows as of December 31:



	2014				2013
	Deferred Tax				Deferred Tax
	Assets		Liabilities		Assets		Liabilities
	(in thousands)
Unrealized capital gains, net	$	—	$	57,575	$	—	$	48,687
Deferred policy acquisition costs	—		15,729		—		15,323
Intangible assets	—		3,162		—		3,390
Loss reserve discounting for tax reporting	56,701		—		57,945		—
Unearned premiums	20,902		—		20,639		—
Allowance for bad debt	2,757		—		2,608		—
Stock based compensation	5,781		—		4,603		—
Accrued liabilities	7,467		—		8,292		—
Minimum tax credit	19,615		—		13,177		—
Net operating loss carryforward	16,185		—		22,832		—
Other	2,519		5,752		1,169		5,803
Total	$	131,927	$	82,218	$	131,265	$	73,203
Deferred income taxes, net	$	49,709			$	58,062

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References+ Details

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2014

Liability for Unpaid Losses and Loss Adjustment Expenses [Abstract]

Changes in the liability for unpaid losses and LAE table

The following table represents a reconciliation of changes in the liability for unpaid losses and LAE.



	Years Ended December 31,
	2014		2013		2012
	(in thousands)
Unpaid losses and LAE, gross of reinsurance, at beginning of period	$	2,330,491	$	2,231,540	$	2,272,363
Less reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE	743,055		805,386		940,840
Net unpaid losses and LAE at beginning of period	1,587,436		1,426,154		1,331,523
Losses and LAE, net of reinsurance, incurred in:
Current year	503,843		494,579		386,044
Prior years	4,521		6,934		1,800
Total net losses and LAE incurred during the period	508,364		501,513		387,844
Paid losses and LAE, net of reinsurance, related to:
Current year	75,935		78,523		67,672
Prior years	319,680		261,708		225,541
Total net paid losses and LAE during the period	395,615		340,231		293,213
Ending unpaid losses and LAE, net of reinsurance	1,700,185		1,587,436		1,426,154
Reinsurance recoverable, excluding bad debt allowance, on unpaid losses and LAE	669,481		743,055		805,386
Unpaid losses and LAE, gross of reinsurance, at end of period	$	2,369,666	$	2,330,491	$	2,231,540

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2014

Reinsurance [Abstract]

Supplemental schedule of reinsurance premiums for insurance companies table

Reinsurance transactions reflected in the accompanying consolidated statements of comprehensive income were as follows:



	Years Ended December 31,
	2014						2013						2012
	Written			Earned			Written			Earned			Written			Earned
	(in thousands)
Direct premiums	$	686,763		$	684,296		$	680,459		$	645,449		$	575,373		$	507,770
Assumed premiums	10,949			10,259			9,412			8,305			4,954			4,345
Gross premiums	697,712			694,555			689,871			653,754			580,327			512,115
Ceded premiums	(10,088		)	(10,088		)	(11,405		)	(11,405		)	(10,651		)	(10,651		)
Net premiums	$	687,624		$	684,467		$	678,466		$	642,349		$	569,676		$	501,464
Ceded losses and LAE incurred	$	17,168					$	10,732					$	2,544

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2014

Notes Payable [Abstract]

Schedule of long-term debt instruments table

Notes payable is comprised of the following:



	December 31,
	2014		2013
	(in thousands)
Amended Credit Facility, due December 31, 2015 with variable interest, as described below	$	60,000	$	70,000
Dekania Surplus Note, due April 30, 2034 with variable interest of 425 basis points above 90-day LIBOR	10,000		10,000
ICONS Surplus Note, due May 26, 2034 with variable interest of 425 basis points above 90-day LIBOR	12,000		12,000
Alesco Surplus Note, due December 15, 2034 with variable interest of 405 basis points above 90-day LIBOR	10,000		10,000
Balance	$	92,000	$	102,000

Schedule of maturities of long-term debt table

Principal payment obligations on notes payable outstanding at December 31, 2014, were as follows:



Year	Principal Due
	(in thousands)
2015	$	60,000
2016	—
2017	—
2018	—
2019	—
Thereafter	32,000
Total	$	92,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 55

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies [Abstract]

Operating and capital leases schedule of future minimum lease payments table

The future lease payments for the next five years on these non-cancelable operating and capital leases at December 31, 2014, were as follows:



Year	Operating Leases		Capital Leases
	(in thousands)
2015	$	4,842	$	621
2016	3,574		320
2017	2,148		320
2018	722		185
2019	87		—
Thereafter	29		—
Total	$	11,402	$	1,446

Schedule of capital leased asssets table

Property held under capital leases is included in property and equipment as follows:



Asset Class	2014			2013
	(in thousands)
Computers and software	$	873		$	2,747
Automobiles	1,230			1,208
	2,103			3,955
Accumulated amortization	(950		)	(1,502		)
Total	$	1,153		$	2,453

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Stock-Based Compensation [Abstract]

Schedule of compensation cost for share-based payment arrangements, allocation of share-based compensation costs by plan table

Net stock-based compensation expense recognized in the accompanying consolidated statements of comprehensive income was as follows:



	Years Ended December 31,
	2014		2013		2012
Stock-based compensation expense related to:	(in thousands)
Nonqualified stock options	$	1,223	$	1,715	$	1,958
RSUs	1,908		2,276		2,435
PSUs	2,902		1,631		1,748
Total	6,033		5,622		6,141
Less: related tax benefit	2,112		1,968		1,972
Net stock-based compensation expense	$	3,921	$	3,654	$	4,169

Schedule of share-based payment award, stock options, valuation assumptions table

The fair value of the stock options granted during the years ended December 31, 2014, 2013, and 2012 was calculated using the following weighted average assumptions:



	2014		2013		2012
Expected volatility	39.0	%	40.1	%	42.7	%
Expected life (in years)	4.8		4.8		4.8
Dividend yield	1.2	%	1.1	%	1.4	%
Risk-free interest rate	1.6	%	0.8	%	1.1	%
Weighted average grant date fair values of options granted	$6.66		$7.04		$5.64

Schedule of share-based compensation arrangement by share-based payment award, options, vested and expected to vest, outstanding table

Changes in outstanding stock options for the year ended December 31, 2014 were as follows:



	Number of Options		Weighted-Average Exercise Price		Weighted Average Remaining Contractual Life
Options outstanding at December 31, 2011	1,788,706		$	16.90	4.3 years
Granted	242,300		17.02		6.2 years
Exercised	(101,261	)	14.13
Expired	(98,973	)	18.78
Options outstanding at December 31, 2012	1,830,772		16.97		3.7 years
Granted	162,800		22.24		6.2 years
Exercised	(411,295	)	17.89
Expired	(6,900	)	17.00
Forfeited	(28,479	)	18.90
Options outstanding at December 31, 2013	1,546,898		17.24		3.4 years
Granted	141,744		20.87		6.2 years
Exercised	(120,494	)	17.89
Expired	(2,400	)	17.00
Forfeited	(44,458	)	19.99
Options outstanding at December 31, 2014	1,521,290		17.45		2.9 years
Exercisable at December 31, 2014	1,112,098		16.49		2.2 years

Schedule of fair value of options vested and instrinsic value of outstanding and exercisable options table

The fair value of options vested and the intrinsic value of outstanding and exercisable options as of December 31, were as follows:



	2014		2013		2012
	(in thousands)
Fair value of options vested	$	1,595	$	1,809	$	1,948
Intrinsic value of outstanding options	9,221		22,288		6,616
Intrinsic value of exercisable options	7,810		15,173		3,918

Schedule of share-based compensation, restricted stock and restricted stock units activity

Changes in outstanding RSUs for the year ended December 31, 2014 were as follows:



	Number of RSUs		Weighted Average Grant Date Fair Value
RSUs outstanding at December 31, 2011	418,189		$	16.42
Granted	117,065		17.15
Vested	(128,992	)	16.36
RSUs outstanding at December 31, 2012	406,262		16.65
Granted	84,215		23.57
Forfeited	(10,924	)	18.85
Vested	(121,207	)	15.97
RSUs outstanding at December 31, 2013	358,346		18.44
Granted	87,396		21.02
Forfeited	(16,690	)	20.18
Vested	(122,185	)	18.26
RSUs outstanding at December 31, 2014	306,867		19.15
Vested but unsettled RSUs at December 31, 2014	106,252		17.07

Schedule of fair value of RSUs vested and instrinsic value of outstanding and vested RSUs table

The grant date fair value of RSUs vested and the intrinsic value of vested RSUs for the years ended December 31, were as follows:



	2014		2013		2012
	(in thousands)
Grant date fair value of RSUs vested	$	2,231	$	1,936	$	2,110
Intrinsic value of vested RSUs	2,683		2,872		2,235

PSUs awarded to certain officers table

The Company awarded PSUs to certain officers of the Company as follows:



Date of Grant	Target Number Awarded	Fair Value on Date of Grant		Aggregate Fair Value on Date of Grant
				(in thousands)
March 2012⁽¹⁾	158,900	$	17.02	$	2,704
March 2013⁽¹⁾	147,440	22.24		3,279
March 2014⁽¹⁾	125,340	20.87		2,616


(1)	The PSUs have a performance period of three years and are subject to certain performance goals, based on the Company's statutory combined ratio, with payouts that range from 0% to 200% of the target awards.

Statutory Matters (Tables)

12 Months Ended

Dec. 31, 2014

Stautory Matters [Abstract]

Statutory accounting practices disclosure table



	December 31,
	2014		2013
	(in thousands)
Capital stock and unassigned surplus	$	428,952	$	361,786
Paid in capital	174,900		174,900
Surplus notes	32,000		32,000
Total statutory surplus	$	635,852	$	568,686

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References+ Details

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Net income and weighted average common shares outstanding used in earnings per share calculations table

The following table presents the net income and the weighted average shares outstanding used in the earnings per share calculations.



	Years Ended December 31,
	2014		2013		2012
	(in thousands, except share data)
Net income available to stockholders–basic and diluted	$	100,684	$	63,824	$	106,891
Weighted average number of shares outstanding–basic	31,529,621		31,142,534		31,476,056
Effect of dilutive securities:
Nonqualified stock options	223,811		464,334		104,837
PSUs	264,511		177,040		—
RSUs	51,126		154,259		141,164
Dilutive potential shares	539,448		795,633		246,001
Weighted average number of shares outstanding–diluted	32,069,069		31,938,167		31,722,057

Antidilutive securities excluded from computation of earnings per share table

The following table presents options, PSUs and RSUs that were excluded from diluted earnings per share.



	Years Ended December 31,
	2014	2013	2012
Options excluded as the exercise price was greater than the average market price	173,247	—	900,180
Options, PSUs and RSUs excluded under the treasury method, as the potential proceeds on settlement or exercise was greater than the value of shares acquired	260,171	162,800	401,200

Selected Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2014

Selecled Quarterly Financial Data (Unaudited) [Abstract]

Schedule of Quarterly Financial Information [Table Text Block]

Quarterly results for the years ended December 31, 2014 and 2013 were as follows:



	2014 Quarters Ended
	March 31		June 30		September 30		December 31
	(in thousands, except per share data)
Net premiums earned	$	167,154	$	172,659	$	172,053	$	172,601
Realized gains on investments, net	3,259		9,167		1,776		2,136
Losses and loss adjustment expenses	122,256		98,524		122,357		110,217
Commission expense	20,075		20,301		20,607		20,399
Underwriting and other operating expenses	33,301		33,156		31,854		30,856
Income tax expense	1,318		1,951		1,295		1,311
Net income	10,753		45,597		15,200		29,134
Earnings per common share:
Basic	0.34		1.45		0.48		0.92
Diluted	0.34		1.42		0.47		0.91



	2013 Quarters Ended
	March 31			June 30		September 30			December 31
	(in thousands, except per share data)
Net premiums earned	$	147,975		$	159,953	$	164,429		$	169,992
Realized gains on investments, net	794			3,866		1,075			3,794
Losses and loss adjustment expenses	108,272			112,638		105,767			136,902
Commission expense	18,393			20,127		19,946			19,792
Underwriting and other operating expenses	31,540			32,249		32,493			29,042
Income tax (benefit) expense	(226		)	1,209		(3,274		)	(8,359		)
Net income	7,490			14,588		27,585			14,161
Earnings per common share:
Basic	0.24			0.47		0.88			0.45
Diluted	0.24			0.46		0.86			0.44

Schedule II. Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2014

Notes to Condensed Financial Statments [Abstract]

Investments classified by contractual maturity date table



	Amortized Cost		Estimated Fair Value
	(in thousands)
Due in one year or less	$	183,379	$	185,911
Due after one year through five years	770,649		803,311
Due after five years through ten years	642,776		670,874
Due after ten years	183,603		200,329
Mortgage and asset-backed securities	405,712		415,324
Total	$	2,186,119	$	2,275,749



	Amortized Cost		Estimated Fair Value
	(in thousands)
Due in one year or less	$	22,269	$	22,605
Due after one year through five years	33,554		35,363
Due after five years through ten years	10,411		10,592
Due after ten years	10,096		11,155
Mortgage and asset-backed securities	7,004		6,995
Total	$	83,334	$	86,710

Schedule II - Balance Sheet Parenthetical (Details) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fixed maturity securities, amortized cost	$ 2,283,953	$ 2,205,753
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	54,866,802	54,672,904
Common stock, shares outstanding (in shares)	31,493,828	31,299,930
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury stock, at cost (in shares)	23,372,974	23,372,974
Parent Company [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Equity Securities [Member]
Fixed maturity securities, amortized cost	97,834	89,689
Equity Securities [Member] \| Parent Company [Member]
Fixed maturity securities, amortized cost	48,597	42,861
Debt Securities [Member]
Fixed maturity securities, amortized cost	2,186,119	2,116,064
Debt Securities [Member] \| Parent Company [Member]
Fixed maturity securities, amortized cost	$ 82,956	$ 108,890

Changes in Estimates (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Change in Accounting Estimate [Line Items]

Unpaid losses and loss adjustment expenses

$ 2,369,666

$ 2,330,491

$ 2,369,666

$ 2,330,491

$ 2,231,540

$ 2,272,363

Amortization of deferred gain

(13,100)

(14,600)

(17,000)

Other liabilities

(36,683)

(25,191)

(36,683)

(25,191)

Other assets

23,450

17,920

23,450

17,920

Deferred policy acquisition costs

44,600

43,532

44,600

43,532

38,852

Underwriting and other operating expenses

(30,856)

(31,854)

(33,156)

(33,301)

(29,042)

(32,493)

(32,249)

(31,540)

(129,167)

(125,324)

(124,644)

Income tax expense (benefit)

1,311

1,295

1,951

1,318

(8,359)

(3,274)

1,209

(226)

5,875

(10,650)

(9,347)

Net income

29,134

15,200

45,597

10,753

14,161

27,585

14,588

7,490

100,684

63,824

106,891

EPS, basic

$ 0.92

$ 0.48

$ 1.45

$ 0.34

$ 0.45

$ 0.88

$ 0.47

$ 0.24

$ 3.19

$ 2.05

$ 3.40

EPS, diluted

$ 0.91

$ 0.47

$ 1.42

$ 0.34

$ 0.44

$ 0.86

$ 0.46

$ 0.24

$ 3.14

$ 2.00

$ 3.37

Change to Contingent Profit Commission [Member]

Change in Accounting Estimate [Line Items]

Amortization of deferred gain

(2,900)

(2,700)

(10,846)

^[1]

(4,348)

^[1]

(9,609)

^[1]

Net income

2,900

2,700

10,846

4,348

9,609

EPS, basic

$ 0.09

$ 0.34

$ 0.14

$ 0.31

EPS, diluted

$ 0.08

$ 0.34

$ 0.14

$ 0.30

EPS, basic and diluted

$ 0.09

Change Due to Estimated Reserves Ceded Under the LPT Agreement [Member]

Change in Accounting Estimate [Line Items]

Unpaid losses and loss adjustment expenses

(46,800)

(27,500)

(46,800)

(27,500)

(100,000)

Amortization of deferred gain

(8,800)

(8,900)

(31,112)

^[1]

(18,986)

^[1]

(73,349)

^[1]

Net income

8,800

8,900

31,112

18,986

73,349

EPS, basic

$ 0.28

$ 0.99

$ 0.61

$ 2.33

EPS, diluted

$ 0.27

$ 0.97

$ 0.59

$ 2.31

EPS, basic and diluted

$ 0.28

Due to Change in Reserves for Non-Taxable Periods [Member]

Change in Accounting Estimate [Line Items]

Unpaid losses and loss adjustment expenses

13,121

27,159

13,121

27,159

Effective Income Tax Rate Reconciliation, Percent

(3.40%)

(13.90%)

Net income

3,595

7,400

EPS, basic

$ 0.11

$ 0.24

EPS, diluted

$ 0.11

$ 0.23

Change the Estimate of its Guaranty Fund Assessment Liability [Member]

Change in Accounting Estimate [Line Items]

Other liabilities

(2,870)

Other assets

680

Deferred policy acquisition costs

764

Underwriting and other operating expenses

(1,426)

Income tax expense (benefit)

267

Net income

$ 1,159

EPS, basic and diluted

$ 0.04

[1]

(1)The cumulative adjustments to the Deferred Gain were also recognized in losses and LAE incurred in the consolidated statement of comprehensive income, so that the Deferred Gain reflects the balance that would have existed had the revised reserves been recognized at the inception of the LPT Agreement.

Summary of Significant Accounting Policies Reinsurance Funds Held (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Reinsurance [Line Items]
Restricted cash and cash equivalents	$ 10,758	$ 6,564
Funds Held in Trust, Reinsurance Agreement [Domain]
Reinsurance [Line Items]
Restricted cash and cash equivalents	$ 4,000	$ 3,900

Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Premiums receivable from policyholders for final audit	$ 49,100,000	$ 40,800,000
Write-offs, net of recoveries of amounts previously written off	3,400,000	2,500,000	1,900,000
Deferred policy acquisition cost, amortization expense	102,700,000	96,903,000	85,926,000
Reinsurance quota share, percentage	100.00%
Unpaid losses	669,481,000	742,666,000
LPT actual amounts paid versus expected amounts, period	every five years
LPT actual amounts paid versus expected amounts, expiration period	first twenty-five years
LPT favorable/ unfavorable difference, percentage	30.00%
LPT - loss expense as a percentange of losses paid, for management of LPT claims	7.00%
Collateralized by cash or letter of credit	5,600,000
LPT collateral held in trust account	1,500,000,000
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross carrying amount	17,100,000	17,100,000
Intangible assets, accumulated amortization	(8,066,000)	(7,415,000)
Intangible assets, net	9,034,000	9,685,000
Amortization of intangible assets	700,000	900,000	1,200,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Future amortization expense, year one	489,000
Future amortization expense, year two	371,000
Future amortization expense, year three	285,000
Future amortization expense, year four	189,000
Intangible assets, future amortization total	1,334,000
Licensing Agreements [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross carrying amount	7,700,000	7,700,000
Intangible assets, net	7,700,000	7,700,000
Service Agreements [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross carrying amount	9,400,000	9,400,000
Intangible assets, accumulated amortization	(8,066,000)	(7,415,000)
Intangible assets, net	$ 1,334,000	$ 1,985,000
Leasehold Improvements [Member]
Finite-Lived Intangible Assets, Amortization Method	amortized over three to five years
Electronic Data Processing Equipment, Software, Furniture and Equipment and Automobiles [Member]
Finite-Lived Intangible Assets, Amortization Method	straight-line method over three to seven years

New Accounting Standards Guidance change for deferred policy acqusition costs (Details) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition cost, amortization expense									$ 102,700,000	$ 96,903,000	$ 85,926,000
Underwriting and other operating expenses	30,856,000	31,854,000	33,156,000	33,301,000	29,042,000	32,493,000	32,249,000	31,540,000	129,167,000	125,324,000	124,644,000
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition costs, capitalized											87,200,000
Increase (decrease) in deferred policy acquisition costs, capitialized											15,300,000
Increase (decrease) in deferred policy acquisition costs, amortization expense											8,200,000
Underwriting and other operating expenses											7,100,000
Previous Accounting Guidance [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition costs, capitalized											$ 102,500,000

- Definition

Amount of expense related to deferred policy acquisition costs.

+ References+ Details

Fair Value of Financial Instruments (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 2,448,454	$ 2,344,858
Cash and cash equivalents	103,573	34,503	140,661	252,300
Restricted cash and cash equivalents	10,758	6,564
Notes payable	92,000	102,000
Investments, fair value	2,448,454	2,344,858
Cash and cash equivalents, estimated fair value	103,573	34,503
Notes payable, fair value	$ 97,814	$ 105,540

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References+ Details

Fair Value of Financial Instruments, Fair Value Inputs (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 2,448,454	$ 2,344,858
Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,275,749	2,182,546
Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,275,749	2,182,546
Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	166,760	170,897
US Treasury Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Treasury Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	166,760	170,897
US Treasury Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	39,602	68,118
US Government Agencies Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US Government Agencies Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	39,602	68,118
US Government Agencies Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US States and Political Subdivisions Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	745,764	735,180
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	745,764	735,180
US States and Political Subdivisions Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	908,299	833,296
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	908,299	833,296
Corporate Debt Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Residential Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	288,434	258,431
Residential Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Residential Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	288,434	258,431
Residential Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Commercial Mortgage Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	65,403	65,110
Commercial Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Commercial Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	65,403	65,110
Commercial Mortgage Backed Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	61,487	51,514
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	61,487	51,514
Asset-backed Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	172,705	162,312
Equity Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	172,705	162,312
Equity Securities [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Equity Securities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

Investments (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 2,283,953	$ 2,205,753
Gross unrealized gains	170,025	160,669
Gross unrealized loss	(5,524)	(21,564)
Investments	2,448,454	2,344,858
Deposit Assets
Investments	2,448,454	2,344,858
Assets Held-in-trust
Investments	2,448,454	2,344,858
Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	2,186,119	2,116,064
Gross unrealized gains	94,491	87,825
Gross unrealized loss	(4,861)	(21,343)
Investments	2,275,749	2,182,546
Deposit Assets
Investments	2,275,749	2,182,546
Assets Held-in-trust
Investments	2,275,749	2,182,546
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	160,940	163,951
Gross unrealized gains	5,833	7,073
Gross unrealized loss	(13)	(127)
Investments	166,760	170,897
Deposit Assets
Investments	166,760	170,897
Assets Held-in-trust
Investments	166,760	170,897
US Government Agencies Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	37,217	64,985
Gross unrealized gains	2,385	3,137
Gross unrealized loss	0	(4)
Investments	39,602	68,118
Deposit Assets
Investments	39,602	68,118
Assets Held-in-trust
Investments	39,602	68,118
US States and Political Subdivisions Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	701,549	698,979
Gross unrealized gains	44,390	40,595
Gross unrealized loss	(175)	(4,394)
Investments	745,764	735,180
Deposit Assets
Investments	745,764	735,180
Assets Held-in-trust
Investments	745,764	735,180
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	880,701	814,283
Gross unrealized gains	30,781	28,671
Gross unrealized loss	(3,183)	(9,658)
Investments	908,299	833,296
Deposit Assets
Investments	908,299	833,296
Assets Held-in-trust
Investments	908,299	833,296
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	61,594	51,613
Gross unrealized gains	13	54
Gross unrealized loss	(120)	(153)
Investments	61,487	51,514
Deposit Assets
Investments	61,487	51,514
Assets Held-in-trust
Investments	61,487	51,514
Residential Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	278,582	255,187
Gross unrealized gains	10,603	7,979
Gross unrealized loss	(751)	(4,735)
Investments	288,434	258,431
Deposit Assets
Investments	288,434	258,431
Assets Held-in-trust
Investments	288,434	258,431
Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	65,536	67,066
Gross unrealized gains	486	316
Gross unrealized loss	(619)	(2,272)
Investments	65,403	65,110
Deposit Assets
Investments	65,403	65,110
Assets Held-in-trust
Investments	65,403	65,110
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	97,834	89,689
Gross unrealized gains	75,534	72,844
Gross unrealized loss	(663)	(221)
Investments	172,705	162,312
Deposit Assets
Investments	172,705	162,312
Assets Held-in-trust
Investments	172,705	162,312
Portion at Fair Value Measurement [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments	31,200	32,200
Deposit Assets
Investments	31,200	32,200
Assets Held-in-trust
Investments	31,200	32,200
Portion at Fair Value Measurement [Member] \| Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments	783,900	602,400
Deposit Assets
Investments	783,900	602,400
Assets Held-in-trust
Investments	783,900	602,400
Portion at Fair Value Measurement [Member] \| Fixed Maturities and Restricted Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments	74,600	95,100
Deposit Assets
Investments	74,600	95,100
Assets Held-in-trust
Investments	$ 74,600	$ 95,100

Investments, Amortized Cost and Estimated Fair Value (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Amortized Cost
Due in one year or less, amortized cost	$ 183,379
Due after one year through five years, amortized cost	770,649
Due after five years through ten years, amortized cost	642,776
Due after ten years, amortized cost	183,603
Mortgage and asset-backed securities, amortized cost	405,712
Total, amortized cost	2,186,119
Estimated Fair Value
Due in one year or less, fair value	185,911
Due after one year through five years, fair value	803,311
Due after five years through ten years, fair value	670,874
Due after ten years, fair value	200,329
Mortgage and asset-backed securities, fair value	415,324
Total, fair value	$ 2,275,749	$ 2,182,546

Investments, Continuous Loss Position (Details) (USD $)	12 Months Ended
Investments, Continuous Loss Position (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Estimated Fair Value
Estimated fair value, less than 12 months	$ 188,210,000	$ 675,875,000
Estimated fair value, 12 months or greater	232,719,000	30,348,000
Estimated fair value, total	420,929,000	706,223,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	1,657,000	19,863,000
Gross unrealized losses, 12 months or greater	3,867,000	1,701,000
Estimated unrealized loss, total position	5,524,000	21,564,000
Number of issues in loss position, less than 12 months	90	251
Number of issues in loss position, 12 months or greater	92	21
Number of issues in loss position, aggregate	182	272
Total impairments, value	500,000	100,000
Total impairments, number of securitites	7	1
Debt Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	178,121,000	669,735,000
Estimated fair value, 12 months or greater	232,139,000	30,045,000
Estimated fair value, total	410,260,000	699,780,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	1,040,000	19,655,000
Gross unrealized losses, 12 months or greater	3,821,000	1,688,000
Estimated unrealized loss, total position	4,861,000	21,343,000
Number of issues in loss position, less than 12 months	75	234
Number of issues in loss position, 12 months or greater	91	20
Number of issues in loss position, aggregate	166	254
US Treasury Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	16,916,000	22,242,000
Estimated fair value, total	16,916,000	22,242,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	13,000	127,000
Estimated unrealized loss, total position	13,000	127,000
Number of issues in loss position, less than 12 months	7	7
Number of issues in loss position, aggregate	7	7
US Government Agencies Debt Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	0	1,631,000
Estimated fair value, total	0	1,631,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	0	4,000
Estimated unrealized loss, total position	0	4,000
Number of issues in loss position, less than 12 months	0	1
Number of issues in loss position, aggregate	0	1
US States and Political Subdivisions Debt Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	20,636,000	127,965,000
Estimated fair value, 12 months or greater	9,052,000	0
Estimated fair value, total	29,688,000	127,965,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	147,000	4,394,000
Gross unrealized losses, 12 months or greater	28,000	0
Estimated unrealized loss, total position	175,000	4,394,000
Number of issues in loss position, less than 12 months	5	34
Number of issues in loss position, 12 months or greater	2	0
Number of issues in loss position, aggregate	7	34
Corporate Debt Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	109,943,000	326,608,000
Estimated fair value, 12 months or greater	129,387,000	6,174,000
Estimated fair value, total	239,330,000	332,782,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	792,000	9,536,000
Gross unrealized losses, 12 months or greater	2,391,000	122,000
Estimated unrealized loss, total position	3,183,000	9,658,000
Number of issues in loss position, less than 12 months	42	112
Number of issues in loss position, 12 months or greater	39	3
Number of issues in loss position, aggregate	81	115
Residential Mortgage Backed Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	274,000	129,586,000
Estimated fair value, 12 months or greater	44,092,000	5,609,000
Estimated fair value, total	44,366,000	135,195,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	10,000	4,170,000
Gross unrealized losses, 12 months or greater	741,000	565,000
Estimated unrealized loss, total position	751,000	4,735,000
Number of issues in loss position, less than 12 months	6	58
Number of issues in loss position, 12 months or greater	36	11
Number of issues in loss position, aggregate	42	69
Commercial Mortgage Backed Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	4,602,000	35,878,000
Estimated fair value, 12 months or greater	31,280,000	9,324,000
Estimated fair value, total	35,882,000	45,202,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	34,000	1,372,000
Gross unrealized losses, 12 months or greater	585,000	900,000
Estimated unrealized loss, total position	619,000	2,272,000
Number of issues in loss position, less than 12 months	2	9
Number of issues in loss position, 12 months or greater	8	3
Number of issues in loss position, aggregate	10	12
Asset-backed Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	25,750,000	25,825,000
Estimated fair value, 12 months or greater	18,328,000	8,938,000
Estimated fair value, total	44,078,000	34,763,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	44,000	52,000
Gross unrealized losses, 12 months or greater	76,000	101,000
Estimated unrealized loss, total position	120,000	153,000
Number of issues in loss position, less than 12 months	13	13
Number of issues in loss position, 12 months or greater	6	3
Number of issues in loss position, aggregate	19	16
Equity Securities [Member]
Estimated Fair Value
Estimated fair value, less than 12 months	10,089,000	6,140,000
Estimated fair value, 12 months or greater	580,000	303,000
Estimated fair value, total	10,669,000	6,443,000
Gross Unrealized Losses
Gross unrealized losses, less than 12 Months	617,000	208,000
Gross unrealized losses, 12 months or greater	46,000	13,000
Estimated unrealized loss, total position	$ 663,000	$ 221,000
Number of issues in loss position, less than 12 months	15	17
Number of issues in loss position, 12 months or greater	1	1
Number of issues in loss position, aggregate	16	18

Investments, Net Realized Gains (Losses) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net realized gains (losses)
Realized gains on investments, net	$ 16,338	$ 9,529	$ 5,048
Change in unrealized gains (losses)
Change in unrealized gains (losses) on fixed maturity and equity securities	25,395	(60,200)	19,738
Debt Securities [Member]
Net realized gains (losses)
Gross gains from sales	1,114	761	3,779
Gross losses from sales	(1)	(7)	(5)
Realized gains on investments, net	1,113	754	3,774
Change in unrealized gains (losses)
Change in unrealized gains (losses) on fixed maturity and equity securities	23,147	(88,803)	8,803
Equity Securities [Member]
Net realized gains (losses)
Gross gains from sales	15,761	9,093	2,156
Gross losses from sales	(536)	(318)	(882)
Realized gains on investments, net	15,225	8,775	1,274
Change in unrealized gains (losses)
Change in unrealized gains (losses) on fixed maturity and equity securities	$ 2,248	$ 28,603	$ 10,935

Net Investment Income (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 74,935	$ 73,369	$ 74,892
Investment expenses	(2,581)	(2,605)	(2,529)
Net investment income	72,354	70,764	72,363
Debt Securities [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income related to fixed maturity securities and short-term investments and cash equivalents	70,679	69,458	71,293
Equity Securities [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income related to equity securities	4,185	3,812	3,248
Short-term Investments [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income related to fixed maturity securities and short-term investments and cash equivalents	$ 71	$ 99	$ 351

Property and Equipment Property and Equipment breakout (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property and Equipment [Line Items]
Property and equipment, gross	$ 53,901,000	$ 46,689,000
Accumulated depreciation, depletion and amortization, property and equipment	32,869,000	30,073,000
Property and equipment, net	21,032,000	16,616,000
Utilities operating expense, depreciation and amortization	6,300,000	5,200,000	4,400,000
Payments to develop software	800,000
Office Equipment [Member]
Property and Equipment [Line Items]
Property and equipment, gross	2,314,000	2,896,000
Leasehold Improvements [Member]
Property and Equipment [Line Items]
Property and equipment, gross	4,395,000	4,439,000
Computer Equipment [Member]
Property and Equipment [Line Items]
Property and equipment, gross	45,962,000	38,146,000
Automobiles [Member]
Property and Equipment [Line Items]
Property and equipment, gross	$ 1,230,000	$ 1,208,000

Income Taxes (Details) (USD $)	3 Months Ended								12 Months Ended
Income Taxes (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current federal tax expense (benefit)									$ 6,331,000	$ 89,000	$ 1,964,000
Current state and local tax expense (benefit)									79,000	22,000	(312,000)
Current income tax expense (benefit)									6,410,000	111,000	1,652,000
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred income tax benefit									(535,000)	(10,761,000)	(10,999,000)
Income tax expense (benefit)	1,311,000	1,295,000	1,951,000	1,318,000	(8,359,000)	(3,274,000)	1,209,000	(226,000)	5,875,000	(10,650,000)	(9,347,000)
Statutory federal tax rate									35.00%
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Expense computed at statutory rate									37,296,000	18,611,000	34,140,000
Dividends received deduction and tax-exempt interest									(8,778,000)	(9,033,000)	(9,304,000)
Pre-privatization reserve adjustment									(3,595,000)	(7,400,000)	0
LPT deferred gain amortization									(8,365,000)	(6,632,000)	(9,305,000)
LPT reserve adjustment									(10,889,000)	(6,645,000)	(25,672,000)
Income tax reconciliation, other									206,000	449,000	794,000
Downward adjustment of pre-privatization unpaid loss reserve									13,100,000	27,200,000
Net income	29,134,000	15,200,000	45,597,000	10,753,000	14,161,000	27,585,000	14,588,000	7,490,000	100,684,000	63,824,000	106,891,000
Deferred Tax Liabilities [Abstract]
Unrealized capital gains, net	57,575,000				48,687,000				57,575,000	48,687,000
Deferred policy acquisition cost	15,729,000				15,323,000				15,729,000	15,323,000
Intangible assets	3,162,000				3,390,000				3,162,000	3,390,000
Other deferred tax liabilities	5,752,000				5,803,000				5,752,000	5,803,000
Total deferred tax liabilities	82,218,000				73,203,000				82,218,000	73,203,000
Deferred Tax Assets [Abstract]
Loss reserves discounting for tax reporting	56,701,000				57,945,000				56,701,000	57,945,000
Unearned premiums	20,902,000				20,639,000				20,902,000	20,639,000
Allowance for bad debt	2,757,000				2,608,000				2,757,000	2,608,000
Stock based compensation	5,781,000				4,603,000				5,781,000	4,603,000
Accrued liabilities	7,467,000				8,292,000				7,467,000	8,292,000
Minimum tax credit	19,615,000				13,177,000				19,615,000	13,177,000
Net operating loss carry forward	16,185,000				22,832,000				16,185,000	22,832,000
Other deferred tax assets	2,519,000				1,169,000				2,519,000	1,169,000
Total deferred tax assets	131,927,000				131,265,000				131,927,000	131,265,000
Deferred income taxes, net	49,709,000				58,062,000				49,709,000	58,062,000
Operating loss carryforwards	46,200,000								46,200,000
Change Due to Estimated Reserves Ceded Under the LPT Agreement [Member]
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Net income	8,800,000				8,900,000				31,112,000	18,986,000	73,349,000
Change to Contingent Profit Commission [Member]
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Net income	$ 2,900,000				$ 2,700,000				$ 10,846,000	$ 4,348,000	$ 9,609,000

Liability for Unpaid Losses and Loss Adjustment Expenses (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Unpaid losses and LAE, gross of reinsurance, at beginning of period	$ 2,330,491,000	$ 2,231,540,000	$ 2,272,363,000
Loss reinsurance recoverable, excluding bad debt, on unpaid losses	743,055,000	805,386,000	940,840,000
Net unpaid losses and LAE at beginning of period	1,587,436,000	1,426,154,000	1,331,523,000
Losses and LAE, net of reinsurance, incurred in:
Current year	503,843,000	494,579,000	386,044,000
Prior years	4,521,000	6,934,000	1,800,000
Total net losses and LAE incurred during the period	508,364,000	501,513,000	387,844,000
Deduct payments for losses and LAE, net of reinsurance, related to:
Current year	75,935,000	78,523,000	67,672,000
Prior years	319,680,000	261,708,000	225,541,000
Total net payments for losses and LAE during the period	395,615,000	340,231,000	293,213,000
Ending unpaid losses and LAE, net of reinsurance	1,700,185,000	1,587,436,000	1,426,154,000
Loss reinsurance recoverable, excluding bad debt, on unpaid losses	669,481,000	743,055,000	805,386,000
Unpaid losses and LAE, gross of reinsurance, at end of period	2,369,666,000	2,330,491,000	2,231,540,000
Salvage and subrogation recoveries, value	25,100,000	22,900,000
Losses and LAE actual paid were more than expected
Losses and LAE, net of reinsurance, incurred in:
Prior years		5,000,000
Related to involuntary assigned risk business
Losses and LAE, net of reinsurance, incurred in:
Prior years		$ 1,900,000

Reinsurance Reinsurance Premium Note (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Premiums Written, Net
Direct premiums, written	$ 686,763	$ 680,459	$ 575,373
Assumed premiums written	10,949	9,412	4,954
Gross premiums, written	697,712	689,871	580,327
Ceded premiums written	(10,088)	(11,405)	(10,651)
Premiums written, net	687,624	678,466	569,676
Premiums Earned, Net
Direct premiums earned	684,296	645,449	507,770
Assumed premiums earned	10,259	8,305	4,345
Gross premiums, earned	694,555	653,754	512,115
Ceded premiums earned	(10,088)	(11,405)	(10,651)
Premiums earned, net	684,467	642,349	501,464
Ceded losses and LAE incurred	$ 17,168	$ 10,732	$ 2,544

Reinsurance Excess of Loss (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Excess of Loss [Abstract]
Minimum reinsurance for losses from single occurence or event	$ 5.0
Maximum reinsurance for losses from single occurence or event	200.0
Annual aggregate deductible	$ 2.0

Reinsurance LPT Agreement (Details) (USD $)

3 Months Ended

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Reinsurance Agreement [Line Items]

Unpaid losses

$ 669,481,000

$ 742,666,000

$ 669,481,000

$ 742,666,000

Recoverables was related to the LPT agreement

534,800,000

612,100,000

534,800,000

612,100,000

Reinsurance quota share, percentage

100.00%

Ceded premiums written

10,088,000

11,405,000

10,651,000

Coverage provided under LPT agreement

2,000,000,000

Paid losses and LAE claims related to LPT

668,400,000

Amortization of deferred gain

13,100,000

14,600,000

17,000,000

LPT Agreement [Member]

Reinsurance Agreement [Line Items]

Liabilities for the incurred but unpaid losses and LAE related to claims prior to July 1, 1995

1,500,000,000

Ceded premiums written

775,000,000

Change Due to Estimated Reserves Ceded Under the LPT Agreement [Member]

Reinsurance Agreement [Line Items]

Amortization of deferred gain

8,800,000

8,900,000

31,112,000

^[1]

18,986,000

^[1]

73,349,000

^[1]

Change to Contingent Profit Commission [Member]

Reinsurance Agreement [Line Items]

Amortization of deferred gain

$ 2,900,000

$ 2,700,000

$ 10,846,000

^[1]

$ 4,348,000

^[1]

$ 9,609,000

^[1]

[1]

Notes Payable Outstanding (Details) (USD $)	12 Months Ended
Notes Payable Outstanding (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Notes payable	$ 92,000,000	$ 102,000,000
Line of credit, percentage above prime rate	1.75%
Line of credit, percentage above LIBOR rate	1.75%
Line of credit facility, decrease, repayments	10,000,000
Cash paid for interest	3,013,000	3,263,000	3,525,000
Line of Credit [Member]
Debt Instrument [Line Items]
Notes payable	60,000,000	70,000,000	80,000,000	90,000,000	100,000,000
Cash paid for interest	1,400,000	1,600,000	1,900,000
Dekania Surplus Note [Member]
Debt Instrument [Line Items]
Notes payable	10,000,000	10,000,000
Notes payable, maturity date	Apr. 30, 2034
Notes payable, callable	second quarter of 2009
Interest rate, basis points in excess of the 90-day LIBOR	425
Cash paid for interest	500,000	500,000	500,000
Accrued interest	100,000	100,000
ICONS Surpuls Note [Member]
Debt Instrument [Line Items]
Notes payable	12,000,000	12,000,000
Notes payable, maturity date	May 26, 2034
Notes payable, callable	second quarter of 2009
Interest rate, basis points in excess of the 90-day LIBOR		425
Cash paid for interest	500,000	600,000	600,000
Accrued interest	100,000	100,000
Alesco Surplus Note [Member]
Debt Instrument [Line Items]
Notes payable	10,000,000	10,000,000
Notes payable, maturity date	Dec. 15, 2034
Notes payable, callable	fourth quarter of 2009
Interest rate, basis points in excess of the 90-day LIBOR	405
Cash paid for interest	400,000	400,000	500,000
Accrued interest	$ 100,000	$ 100,000

Notes Payable Principal payment obligations on notes payable outstanding (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Capitalization, Long-term Debt [Line Items]
Repayments of principal in next twelve months	$ 60,000
Repayments of principal in year two	0
Repayments of principal in year three	0
Repayments of principal in year four	0
Repayments of principal in year five	0
Repayments of principal after year five	32,000
Notes payable	$ 92,000	$ 102,000

Commitments and Contingencies Future Lease Payments (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Commitments and Contingencies [Abstract]
Remaining lease terms expire over the next	5 years
Future lease payments for non-cancelable operating and capital leases, in years	5 years
Operating Leases, Future Minimum Payments Due [Abstract]
Operating leases, future minimum payments due, current	$ 4,842,000
Operating leases, future minimum payments, due in two years	3,574,000
Operating leases, future minimum payments, due in three years	2,148,000
Operating leases, future minimum payments, due in four years	722,000
Operating leases, future minimum payments, due in five years	87,000
Operating leases, future minimum payments, due thereafter	29,000
Operating leases, future minimum payments due	11,402,000
Capital Leases, Future Minimum Payments Due [Abstract]
Capital leases, future minimum payments due, current	621,000
Capital leases, future minimum payments due in two years	320,000
Capital leases, future minimum payments due in three years	320,000
Capital leases, future minimum payments due in four years	185,000
Capital leases, future minimum payments due in five years	0
Capital leases, Future minimum payments due thereafter	0
Capital leases, future minimum payments due	1,446,000
Future interest charges included in capital lease payments	200,000
Facilities rent expense	$ 4,800,000	$ 5,000,000	$ 5,200,000

Commitments and Contingencies Property held under capital leases is included in property and equipment (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Property held under capital leases
Accumulated depreciation, depletion and amortization, property and equipment	$ (32,869)	$ (30,073)
Computers and software
Property held under capital leases
Property held under captial leases	873	2,747
Automobiles [Member]
Property held under capital leases
Property held under captial leases	1,230	1,208
Assets Held under Capital Leases [Member]
Property held under capital leases
Property held under captial leases	2,103	3,955
Accumulated depreciation, depletion and amortization, property and equipment	(950)	(1,502)
Total property held under capital leases	$ 1,153	$ 2,453

Commitments and Contingencies Contingencies Surrounding Insurance Assessments (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Loss Contingencies [Line Items]
Amount of Insurance-related assessment liability	$ 18.8	$ 13.1
Payment period for assessment liability based on individual states regulations	one to eighty year periods
Other assets, prepaid policy surcharges	$ 13.0	$ 5.1
Expected realization period for assets related to policy surcharges	one to ten year periods

Stockholders' Equity (Details) (USD $)	96 Months Ended
Stockholders' Equity (Details) (USD $)	Dec. 31, 2014
Accelerated Share Repurchases [Line Items]
Stock repurchased during period, shares	23,372,974
Accelerated share repurchases, final price paid per share	$ 15.51

Stock-Based Compensation Expense (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares reserved for grants	7,105,838
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 6,033	$ 5,622	$ 6,141
Less: related tax benefit	2,112	1,968	1,972
Net stock-based compensation expense	3,921	3,654	4,169
Stock Option [Member]
Stock-based compensation expense [Abstract]
Stock-based compensation expense	1,223	1,715	1,958
Restricted stock units (RSUs)
Stock-based compensation expense [Abstract]
Stock-based compensation expense	1,908	2,276	2,435
Performance Share Units [Member]
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 2,902	$ 1,631	$ 1,748

Stock-Based Compensation Fair Market Value of Stock Options Granted, Calculated (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fair Market Value of Stock Options Granted, Calculated [Abstract]
Expected volatility	39.00%	40.10%	42.70%
Expected life (in years)	4 years 274 days	4 years 274 days	4 years 274 days
Dividend yield	1.20%	1.10%	1.40%
Risk free interest rate	1.60%	0.80%	1.10%
Weighted average grant date fair value	$ 6.66	$ 7.04	$ 5.64

Stock-Based Compensation Changes in Outstanding Stock Options (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 6.66	$ 7.04	$ 5.64
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of outstanding options or share units	1,521,290	1,546,898	1,830,772	1,788,706
Number of options or share units, granted	141,744	162,800	242,300
Stock-options exercised, shares	(120,494)	(411,295)	(101,261)
Number of options or share units, expired	(2,400)	(6,900)	(98,973)
Number of options or share units, forfeited	(44,458)	(28,479)
Number of exercisable options or share units	1,112,098
Weighted average exercise price, grants	$ 20.87	$ 22.24	$ 17.02
Weighted average exercise price, exercises	$ 17.89	$ 17.89	$ 14.13
Weighted average exercise price, expirations	$ 17.00	$ 17.00	$ 18.78
Weighted average exercise price, forfeitures	$ 19.99	$ 18.90
Weighted average exercise price, outstanding	$ 17.45	$ 17.24	$ 16.97	$ 16.90
Weighted average exercisable price	$ 16.49
Weighted average remaining contractual life	2 years 324 days	3 years 164 days	3 years 269 days	4 years 98 days
Share-based compensation expense, deferred	$ 1,700,000
Share-based compensation expense, Period for Recognition	39 months
Options vested, fair value	1,595,000	1,809,000	1,948,000
Options outstanding, intrinsic value	9,221,000	22,288,000	6,616,000
Options exercisable, intrinsic value	7,810,000	15,173,000	3,918,000
Options exercised, intrinsic value	500,000	3,700,000	500,000
Stock Options Granted [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual life	6 years 73 days	6 years 80 days	6 years 76 days
Stock Options Exercisable [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual life	2 years 60 days
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service vesting period for options awarded	4 years
Vesting rights for options awarded	vest 25% on each of the subsequent four anniversaries of such date
Number of outstanding options or share units	306,867	358,346	406,262	418,189
Number of options or share units, granted	87,396	84,215	117,065
Number of options or share units, forfeited	(16,690)	(10,924)
Number of vested options or share units	(122,185)	(121,207)	(128,992)
Weighted average exercise price, grants	$ 21.02	$ 23.57	$ 17.15
Weighted average exercise price, forfeitures	$ 20.18	$ 18.85
Weighted average exercise price, vested	$ 18.26	$ 15.97	$ 16.36
Weighted average grant date fair value	$ 19.15	$ 18.44	$ 16.65	$ 16.42
Share-based compensation expense, deferred	2,400,000
Share-based compensation expense, Period for Recognition	39 months
Options vested, fair value	2,231,000	1,936,000	2,110,000
Options outstanding, intrinsic value	7,200,000	11,300,000	8,400,000
Options exercisable, intrinsic value	$ 2,683,000	$ 2,872,000	$ 2,235,000
Restricted Stock Units Vested but Unsettled [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of outstanding options or share units	106,252
Weighted average grant date fair value	$ 17.07

Stock-Based Compensation Performance Share Awards (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2014	Mar. 31, 2013	Mar. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share awards, minimum payout		0.00%
Performane share awards, maximum payout		200.00%
Performance share units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service vesting period for options awarded	3 years
Number of outstanding options or share units			147,440	158,900
Share-based compensation options, exercise price on grant date			$ 22.24	$ 17.02
Fair value of awards awarded on grant date			$ 3,279,000	$ 2,704,000
Share-based compensation expense, deferred		$ 2,200,000
Share-based compensation expense, Period for Recognition	24 months

Statutory Matters Statutory Matters (Details) (USD $)	12 Months Ended
Statutory Matters Statutory Matters (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statutory Accounting Practices [Line Items]
Capital stock and unassigned surplus	$ 428,952,000	$ 361,786,000
Paid in capital	174,900,000	174,900,000
Surplus notes	32,000,000	32,000,000
Total statutory surplus	635,852,000	568,686,000
SAP, net income amount	58,600,000	19,300,000	13,500,000
Total stockholders’ equity	686,844,000	568,703,000
Will maintain a risk based capital (RBC) level of at least	350.00%
EICN
Statutory Accounting Practices [Line Items]
Capital stock and unassigned surplus	372,300,000
Maximum dividends that may be paid without prior approval in 2015	37,400,000
Extraordinary dividends, approves or does not disapprove the payment within	30 days
Percentage of surplus of EICN's statutory surplus as regards to policyholders	10.00%
EPIC
Statutory Accounting Practices [Line Items]
Maximum dividends that may be paid without prior approval in 2015	26,100,000
Percentage of surplus used to calculate the lesser of 10% of surplus or net income, not including realized capital gains, plus a 2-year carry forward.	10.00%
Percentage of surplus used to calculate 10% of surplus, with dividends payable limited to unassigned funds minus 25% of unrealized capital gains	10.00%
Percentage of surplus used to calculate the lesser of 10% of surplus or net investment income plus a 3-year carry forward with dividends payable limited to unassigned funds minus 25% of unrealized capital gains	10.00%
Percentage of unassigned gains used to calculate 10% of surplus, with dividends payable limited to unassigned funds minus 25% of unrealized capital gains	25.00%
Percentage of unassigned gains used to calculate the lesser of 10% of surplus or net investment income plus a 3-year carry forward with dividends payable limited to unassigned funds minus 25% of unrealized capital gains	25.00%
ECIC
Statutory Accounting Practices [Line Items]
ECIC must initiate discussions of its business plan with the California DOI if its premium to policyholder surplus ratio exceeds		1.5 to 1
ECIC will not exceed a ratio of premium to policyholder surplus of		2 to 1
If at any time ECIC's policyholder surplus decreases to	80.00%
EAC and EPIC
Statutory Accounting Practices [Line Items]
Total statutory surplus	$ 4,000,000
Florida statute section 624.408 requires EPIC and EAC to maintain minimum capital and surplus of the greater of $4.0 million or 10% of total liabilities.	10.00%
Used to calculate ratio of written premium to surplus	times 1.25
Net gross premiums to surplus ratio. Florida statute section 624.4095 requires net gross premiums times 1.25 not exceed this ratio.	10-to-1
Net written premiums to surplus ratio. Florida statute section 624.4095 requires net written premiums times 1.25 not exceed this ratio.	4-to-1

Accumulated Other Comprehensive Income, Net (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net unrealized gain on investments, before taxes	$ 164,500	$ 139,105
Deferred tax expense	(57,575)	(48,687)
Total accumulated other comprehensive income, net	$ (106,925)	$ (90,418)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

Employee Benefit and Retirement Plans Employee Benefit and Retirement Plans (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Employee Benefit and Retirement Plans [Abstract]
Safe habor matching, 100%	100.00%
Employee contributions, 100% match, percentage	3.00%
Safe harbor matching 50%	50.00%
Employee contributions 50% match, percentage	3.00%
Employee contributions, maximum match, percentage	5.00%
Company's contributions to Employers 401(k)	$ 1.7	$ 1.2	$ 1.5

Earnings Per Share Earnings Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	$ 29,134	$ 15,200	$ 45,597	$ 10,753	$ 14,161	$ 27,585	$ 14,588	$ 7,490	$ 100,684	$ 63,824	$ 106,891
Weighted average number of shares outstanding - basic									31,529,621	31,142,534	31,476,056
Effect of diluted securities:									539,448	795,633	246,001
Weighted average number of shares outstanding - diluted									32,069,069	31,938,167	31,722,057
Employee Stock Option [Member]
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Effect of diluted securities:									223,811	464,334	104,837
Performance share units [Member]
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Effect of diluted securities:									264,511	177,040	0
Restricted stock units (RSUs)
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Effect of diluted securities:									51,126	154,259	141,164

- Definition

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

+ References+ Details

Earnings Per Share Antidilutive Securities (Details)	12 Months Ended
Earnings Per Share Antidilutive Securities (Details)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of EPS	173,247	0	900,180
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of EPS	260,171	162,800	401,200

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

Selected Quarterly Financial Data Selected Quarterly Financial Data (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Condensed Financial Statements, Captions [Line Items]

Net premiums earned

$ 172,601

$ 172,053

$ 172,659

$ 167,154

$ 169,992

$ 164,429

$ 159,953

$ 147,975

$ 684,467

$ 642,349

$ 501,464

Realized gains on investments, net

2,136

1,776

9,167

3,259

3,794

1,075

3,866

794

16,338

9,529

5,048

Losses and loss adjustment expenses

110,217

122,357

98,524

122,256

136,902

105,767

112,638

108,272

453,354

463,579

287,910

Commission expense

20,399

20,607

20,301

20,075

19,792

19,946

20,127

18,393

81,382

78,258

65,580

Underwriting and other operating expenses

30,856

31,854

33,156

33,301

29,042

32,493

32,249

31,540

129,167

125,324

124,644

Income tax expense (benefit)

1,311

1,295

1,951

1,318

(8,359)

(3,274)

1,209

(226)

5,875

(10,650)

(9,347)

Net income

29,134

15,200

45,597

10,753

14,161

27,585

14,588

7,490

100,684

63,824

106,891

Earnings per common share (Note 18):

EPS, basic

$ 0.92

$ 0.48

$ 1.45

$ 0.34

$ 0.45

$ 0.88

$ 0.47

$ 0.24

$ 3.19

$ 2.05

$ 3.40

EPS, diluted

$ 0.91

$ 0.47

$ 1.42

$ 0.34

$ 0.44

$ 0.86

$ 0.46

$ 0.24

$ 3.14

$ 2.00

$ 3.37

Amortization of deferred gain

13,100

14,600

17,000

Change Due to Estimated Reserves Ceded Under the LPT Agreement [Member]

Condensed Financial Statements, Captions [Line Items]

Net income

8,800

8,900

31,112

18,986

73,349

Earnings per common share (Note 18):

EPS, basic

$ 0.28

$ 0.99

$ 0.61

$ 2.33

EPS, diluted

$ 0.27

$ 0.97

$ 0.59

$ 2.31

EPS, basic and diluted

$ 0.28

Amortization of deferred gain

8,800

8,900

31,112

^[1]

18,986

^[1]

73,349

^[1]

Change to Contingent Profit Commission [Member]

Condensed Financial Statements, Captions [Line Items]

Net income

2,900

2,700

10,846

4,348

9,609

Earnings per common share (Note 18):

EPS, basic

$ 0.09

$ 0.34

$ 0.14

$ 0.31

EPS, diluted

$ 0.08

$ 0.34

$ 0.14

$ 0.30

EPS, basic and diluted

$ 0.09

Amortization of deferred gain

$ 2,900

$ 2,700

$ 10,846

^[1]

$ 4,348

^[1]

$ 9,609

^[1]

[1]

Schedule II. Condensed Financial Information of Registrant (Condensed Balance Sheets) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Excess tax benefits from stock-based compensation	$ 1,156	$ 0	$ 0
Investments
Investment in securities available-for-sale (amortized cost $108,890 in 2013 and $133,606 in 2012)	2,448,454	2,344,858
Equity securities at fair value (amortized cost $42,861 in 2013 and $30,678 in 2012)	172,705	162,312
Total investments	2,448,454	2,344,858
Cash and cash equivalents	103,573	34,503	140,661	252,300
Restricted cash and cash equivalents	10,758	6,564
Deferred income taxes, net	49,709	58,062
Other assets	23,450	17,920
Total assets	3,769,655	3,643,449
Liabilities and stockholders’ equity
Accounts payable and accrued expenses	20,379	18,711
Notes payable	92,000	102,000
Other liabilities	36,683	25,191
Total liabilities	3,082,811	3,074,746
Stockholders’ equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 54,866,802 and 54,672,904 shares issued and 31,493,828 and 31,299,930 shares outstanding at December 31, 2014 and 2013, respectively	549	547
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued	0	0
Additional paid-in capital	346,602	338,090
Retained earnings	595,318	502,198
Accumulated other comprehensive income, net	106,925	90,418
Treasury stock, at cost (23,372,974 shares at December 31, 2014 and 2013)	(362,550)	(362,550)
Total stockholders’ equity	686,844	568,703
Total liabilities and stockholders’ equity	3,769,655	3,643,449
Parent Company [Member]
Excess tax benefits from stock-based compensation	1,156	0	0
Investments
Investment in subsidiaries	567,069	447,619
Investment in securities available-for-sale (amortized cost $108,890 in 2013 and $133,606 in 2012)	86,710	114,152
Equity securities at fair value (amortized cost $42,861 in 2013 and $30,678 in 2012)	58,580	52,503
Total investments	712,359	614,274
Cash and cash equivalents	10,858	6,371	40,149	140,792
Restricted cash and cash equivalents	4,644	567
Intercompany receivable	270	0
Federal income taxes recoverable	6,660	7,427
Deferred income taxes, net	13,909	11,039
Other assets	1,911	2,702
Total assets	750,611	642,380
Liabilities and stockholders’ equity
Accounts payable and accrued expenses	3,767	2,514
Intercompany payable	0	1,163
Notes payable	60,000	70,000
Total liabilities	63,767	73,677
Stockholders’ equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 54,866,802 and 54,672,904 shares issued and 31,493,828 and 31,299,930 shares outstanding at December 31, 2014 and 2013, respectively	549	547
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued	0	0
Additional paid-in capital	346,602	338,090
Retained earnings	595,318	502,198
Accumulated other comprehensive income, net	106,925	90,418
Treasury stock, at cost (23,372,974 shares at December 31, 2014 and 2013)	(362,550)	(362,550)
Total stockholders’ equity	686,844	568,703
Total liabilities and stockholders’ equity	$ 750,611	$ 642,380

Schedule II. Condensed Financial Information of Registrant (Condensed Balance Sheets Parenthetical) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fixed maturity securities, amortized cost	$ 2,283,953	$ 2,205,753
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	54,866,802	54,672,904
Common stock, shares outstanding (in shares)	31,493,828	31,299,930
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury stock, at cost (in shares)	23,372,974	23,372,974
Parent Company [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Debt Securities [Member]
Fixed maturity securities, amortized cost	2,186,119	2,116,064
Debt Securities [Member] \| Parent Company [Member]
Fixed maturity securities, amortized cost	82,956	108,890
Equity Securities [Member]
Fixed maturity securities, amortized cost	97,834	89,689
Equity Securities [Member] \| Parent Company [Member]
Fixed maturity securities, amortized cost	$ 48,597	$ 42,861

Schedule II. Condensed Financial Information of Registrant (Condensed Statements of Income) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Net investment income									$ 72,354	$ 70,764	$ 72,363
Realized gains on investments	2,136	1,776	9,167	3,259	3,794	1,075	3,866	794	16,338	9,529	5,048
Total revenues									773,467	723,581	579,182
Expenses
Interest expense									3,005	3,246	3,504
Total expenses									666,908	670,407	481,638
Income tax expense (benefit)	1,311	1,295	1,951	1,318	(8,359)	(3,274)	1,209	(226)	5,875	(10,650)	(9,347)
Net income	29,134	15,200	45,597	10,753	14,161	27,585	14,588	7,490	100,684	63,824	106,891
Earnings per common share for the stated periods (Note 18):
EPS, basic	$ 0.92	$ 0.48	$ 1.45	$ 0.34	$ 0.45	$ 0.88	$ 0.47	$ 0.24	$ 3.19	$ 2.05	$ 3.40
EPS, diluted	$ 0.91	$ 0.47	$ 1.42	$ 0.34	$ 0.44	$ 0.86	$ 0.46	$ 0.24	$ 3.14	$ 2.00	$ 3.37
Cash dividends declared per common share									$ 0.24	$ 0.24	$ 0.24
Parent Company [Member]
Revenues
Net investment income									5,208	5,995	6,590
Realized gains on investments									5,739	4,273	623
Total revenues									10,947	10,268	7,213
Expenses
Other operating expenses									13,504	11,988	13,889
Interest expense									1,400	1,621	1,880
Total expenses									14,904	13,609	15,769
Income (loss) before income taxes and equity in earnings of subsidiaries									(3,957)	(3,341)	(8,556)
Income tax expense (benefit)									(2,616)	(1,513)	(4,109)
Net income (loss) before equity in earnings of subsidiaries									(1,341)	(1,828)	(4,447)
Equity in net income of subsidiaries									102,025	65,652	111,338
Net income									$ 100,684	$ 63,824	$ 106,891
Earnings per common share for the stated periods (Note 18):
EPS, basic									$ 3.19	$ 2.05	$ 3.40
EPS, diluted									$ 3.14	$ 2.00	$ 3.37

Schedule II. Condensed Financial Information of Registrant (Condensed Statements of Cash Flows) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities
Net income	$ 100,684	$ 63,824	$ 106,891
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization expense	6,995	6,080	5,601
Realized gains on investments	(16,338)	(9,529)	(5,048)
Stock-based compensation	6,033	5,622	6,141
Excess Tax Benefit from Share-based Compensation, Operating Activities	1,156	0	0
Amortization of premium on investments, net	10,560	8,969	7,019
Deferred income tax expense	(535)	(10,761)	(10,999)
Change in operating assets and liabilities:
Accounts payable, accrued expenses and other liabilities	10,259	(1,080)	2,132
Federal income taxes	6,506	(3,663)	100
Other	(10,536)	(2,413)	16,082
Net cash provided by operating activities	169,397	163,725	131,249
Investing activities
Purchase of fixed maturity securities	(378,012)	(514,210)	(444,001)
Purchase of equity securities	(29,458)	(30,499)	(30,979)
Proceeds from sale of fixed maturity securities	47,875	52,471	50,465
Proceeds from maturities and redemptions of investments	251,051	206,843	227,888
Proceeds from sale of equity securities	36,539	30,652	16,147
Capital Contributions to subsidiary	0	(44,023)	(70,000)
Restricted cash used in investing activities	(4,194)	(1,211)	946
Net cash provided by investing activities	(85,498)	(258,890)	(184,424)
Financing activities
Acquisition of treasury stock	0	0	(41,795)
Cash transactions related to stock-based compensation	1,555	6,462	839
Dividends paid to stockholders	(7,540)	(7,455)	(7,508)
Payments on notes payable	(10,000)	(10,000)	(10,000)
Excess tax benefits from stock-based compensation	1,156	0	0
Net cash used in financing activities	(14,829)	(10,993)	(58,464)
Net increase (decrease) in cash and cash equivalents	69,070	(106,158)	(111,639)
Cash and cash equivalents at the beginning of the period	34,503	140,661	252,300
Cash and cash equivalents at the end of the period	103,573	34,503	140,661
Parent Company [Member]
Operating activities
Net income	100,684	63,824	106,891
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net income of subsidiaries	102,025	65,652	111,338
Realized gains on investments	(5,739)	(4,273)	(623)
Stock-based compensation	6,033	5,622	6,141
Excess Tax Benefit from Share-based Compensation, Operating Activities	(1,156)	0	0
Amortization of premium on investments, net	986	1,305	1,734
Deferred income tax expense	(2,244)	(486)	(2,511)
Change in operating assets and liabilities:
Accounts payable, accrued expenses and other liabilities	1,253	(1,680)	1,929
Federal income taxes	767	(1,778)	(9,636)
Other assets	(792)	(115)	(796)
Intercompany payable/receivable	(1,433)	5,553	9
Other	(901)	0	0
Net cash provided by operating activities	(1,181)	2,550	(6,608)
Investing activities
Purchase of fixed maturity securities	(12,045)	(29,485)	0
Purchase of equity securities	(20,696)	(23,599)	(23,909)
Proceeds from sale of fixed maturity securities	4,066	35,466	0
Proceeds from maturities and redemptions of investments	32,600	17,645	47,677
Proceeds from sale of equity securities	20,649	15,473	8,843
Cash dividends received from subsidiaries	0	3,555	0
Restricted cash used in investing activities	(4,077)	(367)	1,818
Net cash provided by investing activities	20,497	(25,335)	(35,571)
Financing activities
Acquisition of treasury stock	0	0	(41,795)
Cash transactions related to stock-based compensation	1,555	6,462	839
Dividends paid to stockholders	(7,540)	(7,455)	(7,508)
Payments on notes payable	(10,000)	(10,000)	(10,000)
Excess tax benefits from stock-based compensation	1,156	0	0
Net cash used in financing activities	(14,829)	(10,993)	(58,464)
Net increase (decrease) in cash and cash equivalents	4,487	(33,778)	(100,643)
Cash and cash equivalents at the beginning of the period	6,371	40,149	140,792
Cash and cash equivalents at the end of the period	$ 10,858	$ 6,371	$ 40,149

Schedule II. Condensed Financial Information of Registrant (Notes to Condensed Financial Statements) (Details) (USD $)	12 Months Ended										12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Parent Company [Member]	Dec. 31, 2013 Parent Company [Member]	Dec. 31, 2012 Parent Company [Member]	Dec. 31, 2014 Employee Stock Option [Member]	Dec. 31, 2013 Employee Stock Option [Member]	Dec. 31, 2012 Employee Stock Option [Member]	Dec. 31, 2011 Employee Stock Option [Member]	Dec. 31, 2014 Restricted stock units (RSUs)	Dec. 31, 2013 Restricted stock units (RSUs)	Dec. 31, 2012 Restricted stock units (RSUs)	Dec. 31, 2011 Restricted stock units (RSUs)	Mar. 31, 2013 Performance share units [Member]	Mar. 31, 2012 Performance share units [Member]
Schedule of Available-for-sale Securities [Line Items]
Payments on notes payable	$ 10,000,000	$ 10,000,000	$ 10,000,000
Amortized Cost
Due in one year or less, amortized cost	183,379,000			22,269,000
Due after one year through five years, amortized cost	770,649,000			33,554,000
Due after five years through ten years, amortized cost	642,776,000			10,411,000
Due after ten years, amortized cost	183,603,000			10,096,000
Mortgage and asset-backed securities, amortized cost	405,712,000			7,004,000
Total, amortized cost	2,186,119,000			83,334,000
Estimated Fair Value
Due in one year or less, fair value	185,911,000			22,605,000
Due after one year through five years, fair value	803,311,000			35,363,000
Due after five years through ten years, fair value	670,874,000			10,592,000
Due after ten years, fair value	200,329,000			11,155,000
Mortgage and asset-backed securities, fair value	415,324,000			6,995,000
Total, fair value	2,275,749,000	2,182,546,000		86,710,000
Change in net unrealized gains on investments, net of taxes	16,507,000	(39,131,000)	12,830,000	3,400,000
Cash paid for interest	3,013,000	3,263,000	3,525,000	1,400,000	1,600,000	1,900,000
Line of credit facility, decrease, repayments	10,000,000
Investments	$ 2,448,454,000	$ 2,344,858,000
Number of options or share units, granted							141,744	162,800	242,300		87,396	84,215	117,065
Number of outstanding options or share units							1,521,290	1,546,898	1,830,772	1,788,706	306,867	358,346	406,262	418,189	147,440	158,900

Schedule VI. Supplemental Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Supplemental Information for Property, Casualty Insurance Underwriters [Abstract]
Deferred policy acquisition costs	$ 44,600				$ 43,532				$ 44,600	$ 43,532	$ 38,852
Unpaid losses and loss adjustment expenses	2,369,666				2,330,491				2,369,666	2,330,491	2,231,540	2,272,363
Unearned premiums	310,778				303,967				310,778	303,967	265,149
Net premiums earned	172,601	172,053	172,659	167,154	169,992	164,429	159,953	147,975	684,467	642,349	501,464
Net investment income									72,354	70,764	72,363
Current year									503,843	494,579	386,044
Prior years									4,521	6,934	1,800
Deferred policy acquisition cost, amortization expense									102,700	96,903	85,926
Total net payments for losses and LAE during the period									395,615	340,231	293,213
Premiums written, net									$ 687,624	$ 678,466	$ 569,676

Consolidated Stockholders Equity (Parentheticals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stockholders Equity Parenthetical [Abstract]
Change in net unrealized gains on investments, net of tax of	$ 8,888	$ (21,069)	$ 6,908

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2014
Stockholders' Equity Attributable to Parent [Abstract]
Treasury Stock	Stockholders' Equity Stock Repurchase Programs Since the Company's initial public offering in January 2007 through December 31, 2014, the Company repurchased a total of 23,372,974 shares of common stock at an average cost per share of $15.51, which is reported as treasury stock, at cost, on the accompanying consolidated balance sheets. There were no stock repurchase programs authorized by the Board of Directors as of December 31, 2014.

Employee Benefit and Retirement Plans	12 Months Ended
Employee Benefit and Retirement Plans	Dec. 31, 2014
Employee Benefit and Retirement Plans [Abstract]
Compensation and Employee Benefit Plans	Employee Benefit and Retirement Plans The Company maintains a 401(k) defined contribution plan covering all eligible Company employees (the Employers 401(k) Plan). Under the Employers 401(k) Plan, the Company's safe harbor matching consists of 100% matching contribution on salary deferrals up to 3% of compensation and then 50% matching contribution on salary deferrals from 3% to 5% of compensation. The Company's contribution to the Employers 401(k) Plan was $1.7 million, $1.2 million, and $1.5 million for the years ended December 31, 2014, 2013, and 2012, respectively.