0001379041-24-000042 | 10-K | XBRL Viewer

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Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statutory federal tax rate	21.00%	21.00%	21.00%
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current federal tax expense (benefit)	$ 23.7	$ 23.6	$ 20.2
Current state and local tax expense (benefit)	1.5	1.1	0.8
Current income tax expense (benefit)	25.2	24.7	21.0
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred income tax expense (benefit)	5.1	(17.3)	6.7
Income tax expense	30.3	7.4	27.7
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Expense computed at statutory rate	31.2	11.7	31.0
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$ 1.1	$ 0.9	$ 0.6
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	0.80%	1.50%	0.40%
Dividends received deduction and tax-exempt interest	$ (0.9)	$ (1.4)	$ (1.7)
Effective Income Tax Rate Reconciliation, Deduction, Dividend, Percent	(0.60%)	(2.50%)	(1.10%)
LPT deferred gain amortization	$ (1.5)	$ (1.7)	$ (2.4)
Effective Income Tax Reconciliation LPT Agreement, Percent	(1.00%)	3.10%	1.60%
Stock based compensation	$ 0.9	$ 0.8	$ 0.7
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Percent	0.60%	1.40%	0.40%
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	$ (0.1)	$ (0.9)	$ (0.5)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Percent	0.00%	(1.70%)	(0.30%)
Income tax reconciliation, other	$ (0.4)	$ (0.6)	$ 0.0
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	(0.40%)	(0.80%)	0.00%
Income tax expense	$ 30.3	$ 7.4	$ 27.7
Effective Income Tax Rate Reconciliation, Percent	20.40%	13.30%	18.80%
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense [Abstract]
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	$ 0.0	$ 0.1	$ 0.0
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	0.2	0.1	0.1
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	0.0	(0.1)	(0.1)
Unrecognized tax benefits	0.6	0.4	0.3	$ 0.3
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	0.0	0.0	0.0
Deferred Tax Liabilities [Abstract]
Deferred policy acquisition cost	11.9	10.3
Intangible assets	1.6	1.6
Deferred Tax Liabilities, Leasing Arrangements	1.1	2.4
Other deferred tax liabilities	6.1	7.5
Deferred Tax Liabilities, Gross	20.7	21.8
Deferred Tax Assets [Abstract]
Deferred Tax Asset, Debt Securities, Available-for-Sale, Unrealized Loss	3.1	24.7
Loss reserves discounting for tax reporting	31.2	31.2
Unearned premiums	14.9	13.2
Allowance for bad debt	4.0	2.9
Stock based compensation	1.6	1.8
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	4.9	4.6
Deferred Tax Asset, Leasing Arrangements	1.2	2.9
Other deferred tax assets	3.2	3.2
Total deferred tax assets	64.1	84.5
Deferred Tax Assets, Net	43.4	62.7
Net income	118.1	48.4	119.3
Change Due to Estimated Reserves Ceded Under the LPT Agreement [Member]
Deferred Tax Assets [Abstract]
Net income	(0.9)		2.6
Change to Contingent Profit Commission [Member]
Deferred Tax Assets [Abstract]
Net income	0.3		0.5
Accounting Standards Update 2018-05 [Member]
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Revaluation of deferred tax asset	$ 0.0	$ (1.4)	$ 0.0
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	0.00%	(2.50%)	0.00%

Segments

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segment Reporting

The Company operates as a single reportable segment, Insurance Operations, through our wholly owned subsidiaries. In the fourth quarter of 2023, the Company developed and executed an integration plan to consolidate our previously segregated direct-to-consumer operations (Cerity) into the Company's mainstream operations, while retaining our digital distribution capabilities. The integration plan, which will allow the Company to operate more efficiently and generate cost savings, resulted in a change in the composition of our reportable segments by eliminating any distinction, including stand-alone financial statements, among our former segments, which were: Employers and Cerity.

The Insurance Operations segment represents the traditional business offered through its agents, including business originated from the Company's strategic partnerships and alliances and also direct-to-customer business.

The following table summarizes the Company's written premiums and components of net income. All periods prior to December 31, 2023 have been conformed to the current presentation.


	Insurance Operations		Total
	(in millions)
Year Ended December 31, 2023
Gross premiums written	$	767.7	$	767.7
Net premiums written	760.6		760.6

Net premiums earned	721.9		721.9
Net investment income	106.5		106.5
Net realized and unrealized gains on investments	22.7		22.7

Other (loss) income	(0.2)		(0.2)
Total revenues	850.9		850.9

Losses and loss adjustment expenses	405.7		405.7
Commission expense	100.0		100.0
Underwriting and general and administrative expenses	180.0		180.0
Interest and financing expenses	5.8		5.8
Other expenses	11.0		11.0
Total expenses	702.5		702.5

Net income before income taxes	148.4		148.4
Income tax expense	30.3		30.3
Net income	$	118.1	$	118.1


	Insurance Operations		Total
	(in millions)
Year Ended December 31, 2022
Gross premiums written	$	714.2	$	714.2
Net premiums written	707.2		707.2

Net premiums earned	675.2		675.2
Net investment income	89.8		89.8
Net realized and unrealized (losses) on investments	(51.8)		(51.8)

Other income	0.3		0.3
Total revenues	713.5		713.5

Losses and loss adjustment expenses	391.0		391.0
Commission expense	95.9		95.9
Underwriting and general and administrative expenses	167.3		167.3
Interest and financing expenses	3.5		3.5

Total expenses	657.7		657.7

Net income before income taxes	55.8		55.8
Income tax expense	7.4		7.4
Net income	$	48.4	$	48.4


	Insurance Operations		Total
	(in millions)
Year Ended December 31, 2021
Gross premiums written	$	589.7	$	589.7
Net premiums written	583.1		583.1

Net premiums earned	574.4		574.4
Net investment income	72.7		72.7
Net realized and unrealized gains on investments	54.6		54.6

Other income	1.4		1.4
Total revenues	703.1		703.1

Losses and loss adjustment expenses	315.2		315.2
Commission expense	76.1		76.1
Other underwriting expenses	160.2		160.2
Interest and financing expenses	0.5		0.5
Other expenses	4.1		4.1
Total expenses	556.1		556.1

Net income before income taxes	147.0		147.0
Income tax expense	27.7		27.7
Net income	$	119.3	$	119.3

Entity-Wide Disclosures

The Company operates solely within the United States and does not have revenue from transactions with a single policyholder accounting for 10% or more of its revenues. The following table shows our in-force premiums, in-force premiums including

estimated final audit premium, and number of policies in-force for each state of our largest states and all other states combined as of December 31:


	2023			2022			2021
State	In-force Premiums		Policies In-force	In-force Premiums		Policies In-force	In-force Premiums		Policies In-force
	(dollars in millions)
California	$	311.5	43,353	$	279.7	42,876	$	258.4	40,704
Florida	56.6		10,008	49.4		9,417	41.1		7,989
New York	31.9		7,603	27.3		7,497	24.5		7,307


Other (43 states and D.C.)	294.6		65,445	266.1		61,566	247.4		55,350
Total	$	694.6	126,409	$	622.5	121,356	$	571.4	111,350
Estimated audit premium	45.6		—	39.5		—	42.3		—
Total, including estimated audit premium	$	740.2	126,409	$	662.0	121,356	$	613.7	111,350

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies [Abstract]

Significant Accounting Policies

Summary of Significant Accounting Policies

Cash and Cash Equivalents

The Company considers all liquid investments with maturities of less than three months, as measured from the date of purchase, to be cash equivalents.

Restricted Cash and Cash Equivalents

Restricted cash and cash equivalents represent cash and cash equivalents held in trust in order to secure certain of the Company's obligations and, accordingly, are restricted as to withdrawal or usage. As of December 31, 2023 and 2022 the

Company held $3.0 million and $2.7 million, respectively, in cash and investments in trust for reinsurance obligations, of which $0.2 million, represented restricted cash and cash equivalents for each year.

Short-Term Investments

The Company considers all liquid investments with maturities of between three and twelve months, as measured from the date of purchase, to be short-term investments.

Investment Securities

The Company's investments in fixed maturity securities and short-term investments are classified as available-for-sale (AFS) and are reported at fair value with unrealized gains and losses excluded from earnings and reported as a separate component of stockholders' equity, net of deferred taxes, in Accumulated other comprehensive loss on the Company's Consolidated Balance Sheets.

The Company's investments in equity securities at fair value are not classified as AFS and changes in fair value are included in Net realized and unrealized gains and losses on investments on the Company's Consolidated Statements of Comprehensive Income (Loss). The Company's investment in FHLB stock is presented within Equity securities at cost on the Company's Consolidated Balance Sheets.

The Company's investments in other invested assets are reported at net asset value and changes in the value of these investments are included in Net realized and unrealized gains (losses) on investments on the Company's Consolidated Statements of Comprehensive Income (Loss).

The Company's investments in fixed maturity securities are presented net of an allowance for current expected credit losses (CECL). The Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria is met, the security's amortized cost basis is written down to its fair value. For AFS debt securities that do not meet either criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. The changes in the Company's allowance for CECL on investments are included in Net realized and unrealized gains (losses) on investments on the Company's Consolidated Statements of Comprehensive Income (Loss) (see Note 6).

Investment income consists primarily of interest and dividends generated by investment securities. Interest is recorded as earned 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 gains and losses on investments are determined on a specific-identification basis.

Recognition of Revenue and Expense

Revenue Recognition

Premiums written are recognized as revenues, net of any applicable underlying reinsurance coverage, and recognized as premiums earned, over the period of the contract in proportion to the amount of insurance protection provided. At the end of the policy term, payroll-based premium audits are performed on substantially all policyholder accounts to determine the actual amount of net premiums earned for that 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. Audit premium adjustments are included in premiums earned; however, these adjustments are partially offset by the resulting changes in losses and LAE, commission expenses, and premium taxes. The Company's premiums receivable on its Consolidated Balance Sheets included $42.9 million and $38.7 million of additional premiums expected to be received from policyholders for premium audits at December 31, 2023 and 2022, respectively.

The Company establishes an allowance for CECL (see Note 6) on its premiums receivable through a charge included in underwriting and general and administrative expenses in its Consolidated Statements of Comprehensive Income (Loss). This allowance for CECL is determined based on estimates (collectability and historical payment patterns) and assumptions to project future experience. After all collection efforts have been exhausted, the Company reduces the allowance for CECL for write-offs of premiums receivable that have been deemed uncollectible. The Company's allowance for CECL was $17.9 million and $12.8 million at December 31, 2023 and 2022, respectively. The Company had write offs of $3.9 million, $2.0 million, and $2.5 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Deferred Policy Acquisition Costs

Policy acquisition costs, those costs that relate directly to the successful acquisition of new or renewal insurance contracts, including underwriting, policy issuance and processing, medical and inspection, sales force contract selling and commissions are deferred and amortized as the related premiums are earned. Amortization of deferred policy acquisition costs for the years ended December 31, 2023, 2022, and 2021, was $113.8 million, $106.4 million, and $92.2 million, respectively.

If the sum of a policy's expected losses and LAE and deferred policy acquisition costs exceeds the related unearned premiums and projected investment income, a premium deficiency is determined to exist. In this event, deferred policy acquisition costs are immediately expensed to the extent necessary to eliminate the premium deficiency. If the premium deficiency exceeds deferred acquisition costs, a liability is accrued for the excess deficiency. There were no premium deficiency adjustments recognized during the years ended December 31, 2023, 2022, and 2021.

Unpaid Loss and LAE Reserves

Unpaid 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 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, the Company purchases excess of loss reinsurance in order to protect it against the impact of large and/or catastrophic losses. Additionally, the Company is a party to the LPT Agreement (see Note 10). These reinsurance arrangements reduce the Company's exposure to such losses since its reinsurers are liable to the Company to the extent of the reinsurance protection provided. However, the Company remains liable for all losses it incurs to the extent that any reinsurer is unable or unwilling to make timely payments under its reinsurance agreements.

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 reinsurance recoverables on the Company's Consolidated Balance Sheets. Reinsurance recoverables on paid losses represent amounts currently due from reinsurers. Reinsurance recoverables on unpaid losses represent amounts that will be collectible from reinsurers once the losses are paid. Reinsurance recoverables on unpaid losses and LAE amounted to $427.5 million and $444.5 million at December 31, 2023 and 2022, respectively.

The Company's reinsurance recoverables are presented net of an allowance for CECL. The changes in the Company's allowance for CECL are included in underwriting and general and administrative expenses on the Company's Consolidated Statements of Comprehensive Income (Loss) (see Note 6). This allowance for CECL is determined based on historical information, financial strength of reinsurers, collateralization amounts and ratings to determine the appropriateness of the allowance.

Ceded reinsurance premiums are accounted for on a basis consistent with those used in accounting for the underlying premiums, and are reported as reductions to arrive at net premiums written and earned.

Ceded losses and LAE are also accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the relevant reinsurance agreement, and are recorded as reductions to losses and LAE incurred.

Pursuant to the LPT Agreement, LAE is deemed to be 7% of total losses paid and is payable to the Company as compensation for management of the claims under the LPT Agreement. The Deferred 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 Company's Consolidated Statements of Comprehensive Income (Loss). Any adjustment to the estimated loss and LAE 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 Company's Consolidated Statements of Comprehensive Income (Loss), 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 (LPT Reserve Adjustment).

Additionally, the Company is entitled to receive a contingent profit commission under the LPT Agreement. The contingent profit commission 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 payable every five years beginning June 30, 2004 and ending June 30, 2024. 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 an estimate of contingent profit commission on its Consolidated Balance Sheets as Contingent

commission receivable–LPT Agreement and a corresponding liability is recorded as Deferred reinsurance gain–LPT Agreement. The Contingent commission receivable–LPT Agreement is reduced as amounts are received from participating reinsurers. The 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 Company's Consolidated Statements of Comprehensive Income (Loss). 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 Company's Consolidated Statements of Comprehensive Income (Loss), 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 (LPT Contingent Commission Adjustment).

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 3 to 7 years. Leasehold improvements are also 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 3 to 8 years.

Cloud Computing Arrangements

The Company capitalizes software license fees and implementation costs associated with hosting arrangements that are service contracts. These amounts are included in Cloud computing arrangements on the Company's Consolidated Balance Sheets. Amortization of the software license fees is calculated using the straight-line method over the term of the service contract or based on the expected utilization of the asset. Amortization of the implementation costs are calculated using the straight-line method based on the term of the service contract and commence once the module or component is ready for its intended use, regardless of whether the hosted software has been placed into service, and will be recognized over the remaining life of the service contract.

Operating leases

The Company determines if an arrangement is a lease at the inception of the transaction. Leased office property meets the definition of operating leases under ASC 842 and is presented as a right-of-use asset (ROU asset) and lease liability on the Company's Consolidated Balance Sheets. ROU assets represent the right to use an underlying asset for the lease payments arising from the lease transaction. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term. The Company uses collateralized incremental borrowing rates to determine the present value of lease payments. The ROU assets also include lease payments less any lease incentives within a lease agreement. The Company's lease terms may include options to extend or terminate a lease. Lease expense for lease payments is recognized on a straight-line basis over the lease term. See Note 12 for additional disclosures related to operating leases.

Finance Leases

Leased property and equipment meeting finance 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. Financing leases for automobiles are included in property and equipment in other liabilities on the Company's Consolidated Balance Sheets. 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 finance leases.

Income Taxes

The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company's financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse.

The Company recognizes tax positions that are determined to be more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

The Company recognizes deferred tax assets when it determines that such assets are more likely than not to be realized in future periods. In making such a determination, the Company considers all available positive and negative evidence, including future

reversals of existing taxable temporary differences, tax-planning strategies, projected future taxable income, projected future tax rates, and results of recent operations. If the Company determines that it is not more likely than not that it could realize its deferred tax assets in future periods, it would establish a deferred tax asset valuation allowance that would increase the Company's provision for income taxes. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of its net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

The Company recognizes accrued interest and penalties, if any, in income taxes. For the years ended December 31, 2023 and 2022, the Company incurred no material interest and penalties.

Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents (including restricted cash equivalents), short-term investments, investment securities, premiums receivable, and reinsurance recoverable balances.

The Company's cash equivalents and short-term investments include investments in money market securities and securities backed by the U.S. government. The Company's investment securities are diversified throughout many industries and geographic regions and include investments in U.S. government and U.S. government-sponsored enterprises. The Company believes that it has no significant concentrations of credit risk from a single issue or issuer within its cash equivalents, short-term investments and investment securities other than concentrations in U.S. government and U.S. government-sponsored enterprises.

The Company's premiums receivable are generally diversified due to the large number of entities composing the Company's policyholder base and their dispersion across many different industries.

The Company monitors the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies.

Fair Value of Financial Instruments

The fair values of the Company's financial instruments have been determined using available market information and other appropriate valuation methodologies. Judgment is required in developing fair value estimates 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 of its financial instruments:

Cash and cash equivalents, short-term investments, premiums receivable, accounts payable and accrued expenses, and other liabilities. The carrying amounts for each of these financial instruments as reported in the Company's Consolidated Balance Sheets approximate their fair values.

Investment securities. The Company's investment securities are predominantly valued on the basis of actual market transactions or observable inputs. A small portion of the Company's investment securities are valued on the basis of pricing models with significant unobservable inputs or nonbinding broker quotes (see Note 4).

Goodwill and Other Intangible Assets

The Company formally tests for impairment of goodwill and intangible assets around 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 assessed the effects of current economic conditions on the Company's financial condition and results of operations and changes in the Company's fair value and determined that there were no impairments of these assets as of December 31, 2023 and 2022.

Intangible assets related to state licenses are not subject to amortization. Intangibles related to insurance relationships were amortized in proportion to the expected period of benefit and were fully amortized as of December 31, 2023.

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:


	2023						2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(in millions)
State licenses	$	13.5	$	—	$	13.5	$	13.5	$	—	$	13.5
Insurance relationships	9.4		$	(9.4)	—		9.4		(9.4)		—
Other	0.1		—		0.1		0.1		—		0.1
Total	$	23.0	$	(9.4)	$	13.6	$	23.0	$	(9.4)	$	13.6

There was no amortization expense in 2023 or 2022. Amortization expenses are included in the Company's Consolidated Statements of Comprehensive Income (Loss) in underwriting and general and administrative expenses.

Stock-Based Compensation

The Company provides stock-based compensation to its directors and certain of its employees, which is recognized in its Consolidated Statements of Comprehensive Income (Loss) based on estimated grant date fair values over the relevant service period (see Note 14).

Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
Net Investment Income (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 110.2	$ 94.5	$ 78.1
Investment expenses	(3.7)	(4.7)	(5.4)
Net investment income	106.5	89.8	72.7
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	92.3	81.1	69.8
Equity Securities [Member]
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income related to equity securities	6.8	8.3	5.4
Other 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	3.8	2.8	2.7
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	2.6	0.2	0.2
Cash and Cash Equivalents [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	$ 4.7	$ 2.1	$ 0.0

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2023	Feb. 20, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	EMPLOYERS HOLDINGS, INC.
Entity Central Index Key	0001379041
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 975,608,394
Entity Common Stock Shares Outstanding (in shares)		25,302,289
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	EIG
Security Exchange Name	NYSE
Entity File Number	001-33245
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	04-3850065
Entity Address, Address Line One	2340 Corporate Circle, Suite 200
Entity Address, City or Town	Henderson,
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89074
City Area Code	888
Local Phone Number	682-6671
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	Portions of the registrant's Definitive Proxy Statement relating to the 2024 Annual Meeting of Stockholders are incorporated by reference in Items 11, 12, 13 and 14 of Part III of this report.

Employee Benefit and Retirement Plans Employee Benefit and Retirement Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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)	$ 2.3	$ 2.0	$ 2.1

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies [Abstract]

Lease, Cost [Table Text Block]

Components of lease expense were as follows:


	Years Ended December 31,
	2023		2022
	(in millions)
Operating lease expense	$	1.6	$	3.4
Finance lease expense	0.2		0.2
Total lease expense	$	1.8	$	3.6

Operating and capital leases schedule of future minimum lease payments table


Year	Operating Leases		Finance Leases
	(in millions)
2024	$	1.7	$	0.1
2025	1.5		0.1
2026	1.2		—
2027	1.2		—
2028	0.4		—
Thereafter	—		—
Total lease payments	6.0		0.2
Less: imputed interest	(0.1)		—
Total	$	5.9	$	0.2

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:


	As of December 31,
	2023		2022
	(in millions)
Operating leases:
Operating lease right-of-use asset	$	5.1	11.5
Operating lease liability	5.9		13.6
Finance leases:
Property and equipment, gross	0.6		0.8
Accumulated depreciation	(0.4)		(0.4)
Property and equipment, net	0.2		0.4
Other liabilities	$	0.2	$	0.4

Cash Flow, Supplemental Disclosures [Text Block]

Supplemental cash flow information related to leases was as follows:


	Years Ended December 31,
	2023		2022
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	1.6	$	3.4
Financing cash flows used for finance leases	0.2		0.2

Investments, Net Realized Gains (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in unrealized gains (losses)
AFS, change in unrealized gains (losses) on debt securities reflected in AOCI	$ 66.9	$ (252.5)	$ (69.0)
Total change in net unrealized gains (losses)	103.1	(324.8)	(34.1)
AFS, net realized gains (losses)
Total gross realized gains	1.2	44.4	25.3
Total gross realized losses	(16.5)	(19.6)	(6.1)
Net realized and unrealized gains (losses) on investments	22.7	(51.8)	54.6
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	1.8	(4.3)	0.5
Proceeds from sale of fixed maturity securities	558.0	313.8	206.7
Debt Securities [Member]
Change in unrealized gains (losses)
AFS, change in unrealized gains (losses) on debt securities reflected in AOCI	66.9	(252.5)	(68.9)
AFS, net realized gains (losses)
Net realized and unrealized gains (losses) on investments	(8.0)	(3.6)	4.1
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	1.8	(4.3)	0.5
Debt Securities, Available-for-sale, Realized Gain	1.0	3.2	4.7
Debt Securities, Available-for-sale, Realized Loss	10.8	2.5	1.1
Equity Securities [Member]
Change in unrealized gains (losses)
AFS, change in unrealized gains (losses) on debt securities reflected in AOCI	0.0	0.0	0.0
Equity securities, FV-NI, unrealized gain (loss)	32.5	(73.3)	30.0
Equity securities:
Equity securities, FV-NI, realized gain	0.2	41.2	20.6
Equity securities, FV-NI, realized loss	(5.7)	(17.1)	(5.0)
AFS, net realized gains (losses)
Net realized and unrealized gains (losses) on investments	27.0	(49.2)	45.6
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	0.0	0.0	0.0
Other Investments [Member]
Change in unrealized gains (losses)
AFS, change in unrealized gains (losses) on debt securities reflected in AOCI	0.0	0.0	0.0
AFS, net realized gains (losses)
Net realized and unrealized gains (losses) on investments	3.7	1.0	4.9
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	0.0	0.0	0.0
Unrealized Gain (Loss) on Investments	3.7	1.0	4.9
Loss on Sale of Investments	0.0	0.0	0.0
Gain on Sale of Investments	0.0	0.0	0.0
Short-term Investments [Member]
Change in unrealized gains (losses)
AFS, change in unrealized gains (losses) on debt securities reflected in AOCI	0.0	0.0	(0.1)
AFS, net realized gains (losses)
Net realized and unrealized gains (losses) on investments	0.0	0.0	0.0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	0.0	0.0	0.0
Debt Securities, Available-for-sale, Realized Gain	0.0	0.0	0.0
Debt Securities, Available-for-sale, Realized Loss	$ 0.0	$ 0.0	$ 0.0

Stock-Based Compensation Fair Market Value of Stock Options Granted, Calculated (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options or share units, granted	0	0	0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-Topic 718
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Liability for Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Losses and loss adjustment expenses	$ 405.7	$ 391.0	$ 315.2
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Unpaid losses and LAE, gross of reinsurance, at beginning of period	1,960.7	1,981.2	2,069.4
Loss reinsurance recoverable, excluding bad debt, on unpaid losses	445.4	476.9	497.0
Net unpaid losses and LAE at beginning of period	1,515.3	1,504.3	1,572.4
Losses and LAE, net of reinsurance, incurred in:
Current year	457.8	432.8	366.5
Prior years	(44.9)	(33.5)	(39.8)
Total net losses and LAE incurred during the period	412.9	399.3	326.7
Deduct payments for losses and LAE, net of reinsurance, related to:
Current year	111.7	92.5	76.6
Prior years	360.4	295.8	318.2
Total net payments for losses and LAE during the period	472.1	388.3	394.8
Ending unpaid losses and LAE, net of reinsurance	1,456.1	1,515.3	1,504.3
Loss reinsurance recoverable, excluding bad debt, on unpaid losses	428.4	445.4	476.9
Unpaid losses and LAE, gross of reinsurance, at end of period	1,884.5	1,960.7	1,981.2
Accident Year 2020
Losses and LAE, net of reinsurance, incurred in:
Prior years			8.0
Accident Year 2019
Losses and LAE, net of reinsurance, incurred in:
Prior years			10.0
Voluntary risk business
Losses and LAE, net of reinsurance, incurred in:
Prior years	(44.6)	(32.1)	(38.0)
Involuntary assigned risk business
Losses and LAE, net of reinsurance, incurred in:
Prior years	$ (0.3)	$ (1.4)	$ (1.8)

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2023

Reinsurance [Abstract]

Supplemental schedule of reinsurance premiums for insurance companies table

The effects of reinsurance on the Company's written and earned premiums and on its losses and LAE incurred were as follows:


	Years Ended December 31,
	2023				2022				2021
	Written		Earned		Written		Earned		Written		Earned
	(in millions)
Direct premiums	$	758.6	$	719.9	$	705.3	$	673.2	$	582.6	$	574.0
Assumed premiums	9.1		9.0		8.9		9.0		7.1		7.0
Gross premiums	767.7		728.9		714.2		682.2		589.7		581.0
Ceded premiums	(7.1)		(7.1)		(7.0)		(7.0)		(6.6)		(6.6)
Net premiums	$	760.6	$	721.8	$	707.2	$	675.2	$	583.1	$	574.4
Ceded losses and LAE incurred	$	17.0			$	3.5			$	16.8

Ceded losses and LAE incurred includes the amortization of the Deferred Gain, LPT Reserve Adjustments, and LPT Contingent Commission Adjustments.

Liability for Unpaid Losses and Loss Adjustment Expenses Reconciliation of Claims Development to Aggregate Carrying Amount of the Liability for Unpaid Losses and LAE (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid losses and LAE, net of reinsurance	$ 1,389.2
Reinsurance recoverable on unpaid losses	428.4	$ 445.4	$ 476.9	$ 497.0
Unallocated LAE	66.9
Unpaid losses and loss adjustment expenses	$ 1,884.5	$ 1,960.7	$ 1,981.2	$ 2,069.4

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

Valuation of Financial Instruments

Financial Instruments Carried at Fair Value

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


	2023				2022
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets	(in millions)
Total investments at fair value (Note 5)	$	2,180.6	$	2,180.6	$	2,502.4	$	2,502.4
Cash and cash equivalents	226.4		226.4		89.2		89.2
Restricted cash and cash equivalents	0.2		0.2		0.2		0.2

Assets and liabilities recorded at fair value on the Company's 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 willing market participants would use in pricing the assets or liabilities at the measurement date.

The Company uses third party pricing services to assist with its investment accounting function. The ultimate pricing source varies depending on the investment security and pricing service used, but investment securities valued on the basis of observable inputs (Levels 1 and 2) are generally assigned values on the basis of actual transactions. Securities valued on the basis of pricing models with significant unobservable inputs or non-binding broker quotes are classified as Level 3. The Company performs quarterly analyses on the prices it receives 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, as it is ultimately management's responsibility to ensure that the fair values reflected in the

Company's consolidated financial statements are appropriate. If differences are noted in these analyses, the Company may obtain additional information from other pricing services to validate the quoted price.

The Company bases all of its estimates of fair value for assets on the bid prices, when available, as they represent what a third-party market participant would be willing to pay in an arm's length transaction.

For securities not actively traded, 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 speed assumptions. There were no material adjustments to the valuation methodology utilized by third party pricing services as of December 31, 2023 and 2022.

These methods of valuation 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.

As of December 31, 2023, the Company held $46.2 million of fixed maturity securities at fair value that were designated Level 3. These private placements securities, which were purchased in 2022 and 2023, were designated as Level 3 securities due to the limited amount of observable market information available.

The following table presents the Company's investments at fair value and the corresponding fair value measurements.


	December 31, 2023						December 31, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
	(in millions)
Fixed maturity securities
U.S. Treasuries	$	—	$	58.4	$	—	$	—	$	90.8	$	—
U.S. Agencies	—		2.1		—		—		2.1		—
States and municipalities	—		210.2		—		—		317.6		—
Corporate securities	—		863.7		32.1		—		851.9		16.2
Residential mortgage-backed securities	—		362.2		—		—		360.2		—
Commercial mortgage-backed securities	—		63.8		—		—		55.1		—
Asset-backed securities	—		113.9		14.1		—		58.1		8.0
Collateralized loan obligations	—		91.5		—		—		260.9		—
Foreign government securities	—		10.4		—		—		10.2		—
Other securities	—		113.9		—		—		155.2		—
Total fixed maturity securities	$	—	$	1,890.1	$	46.2	$	—	$	2,162.1	$	24.2
Equity securities at fair value
Industrial and miscellaneous	$	181.7	$	—	$	—	$	165.3	$	—	$	—

Other	29.5		—		—		31.5		0.2		—
Total equity securities at fair value	$	211.2	$	—	$	—	$	196.8	$	0.2	$	—
Short-term investments	$	17.6	$	15.5	$	—	$	119.1	$	—	$	—
Total investments at fair value	$	228.8	$	1,905.6	$	46.2	$	315.9	$	2,162.3	$	24.2

Financial Instruments Carried at Cost

All of the Company's insurance subsidiaries are members of the Federal Home Loan Bank of San Francisco (FHLB). Members are required to purchase stock in the FHLB in addition to maintaining collateral deposits that back any funds advanced and standby letters of credit issued. The Company's investment in FHLB stock is recorded at cost, which approximates fair value, as purchases and sales of these securities are at par value with the issuer. FHLB stock is considered a restricted security and is periodically evaluated by the Company for impairment based on the estimated ultimate recovery of par value.

Financial Instruments Carried at Net Asset Value (NAV)

The Company has investments in private equity limited partnership interests that are included in Other invested assets on the Company's Consolidated Balance Sheets. These investments do not have readily determinable fair values and are carried at NAV and therefore are excluded from the fair value hierarchy. The Company initially estimates the value of these investments using the transaction price. In subsequent periods, the Company measures these investments using NAV per share provided quarterly by the general partner, based on financial statements that are audited annually. These investments are generally not redeemable by the investees and cannot be sold without approval of the general partner. These investments have a fund term of 3 to 12 years, subject to two or three one-year extensions at the general partner's discretion. The Company will receive distributions of proceeds from dividends and interest from fund investments, as well as from the disposition of a fund

investment, or a portion thereof. The Company expects these distributions from time-to-time during the full course of the fund term. As of December 31, 2023 and 2022, the Company had unfunded commitments to these private equity limited partnerships totaling $25.4 million and $55.2 million, respectively.

Additionally, certain cash equivalents, principally money market securities, are measured using NAV, which approximates fair value.

The following table presents cash and investments carried at NAV on the Company's Consolidated Balance Sheets.


	December 31, 2023	December 31, 2022
	(in millions)
Cash equivalents measured at NAV	197.2	65.5
Other invested assets carried at NAV	91.5	59.7

The following table provides a reconciliation of the beginning and ending balances that are measured using Level 3 inputs.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance	$	24.2	$	—
Purchases	20.7		25.8
Unrealized gains (losses) included in comprehensive income (loss)	1.3		(1.6)
Ending balance	$	46.2	$	24.2

- 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

Credit Facility (Details) - USD ($)	12 Months Ended
Credit Facility (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 11, 2020
Letters of Credit [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 75,000,000
Line of Credit Facility, Commitment Fee Percentage	0.30%
Line of Credit Facility, Commitment Fee Amount	$ 25,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$ 700,000
Line of Credit Facility, Covenant Terms	a debt to total capitalization ratio of no more than 35%
FHLB advances	$ 0	$ 182,500,000		$ 35,000,000
Line of Credit Facility, Periodic Payment, Interest	500,000	300,000	$ 300,000
Proceeds from Lines of Credit	0	10,000,000.0	$ 27,000,000.0
Proceeds from (Repayments of) Lines of Credit		$ 10,000,000
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0
Minimum [Member]
Letters of Credit [Line Items]
Line of Credit Facility, Interest Rate at Period End	0.25%
Line of Credit Facility, Commitment Fee Percentage	0.20%
Debt Instrument, Interest Rate, Stated Percentage	1.25%
Debt Instrument, Covenant Description	a minimum consolidated net worth of no less than $900.0 million
Maximum [Member]
Letters of Credit [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 125,000,000
Line of Credit Facility, Interest Rate at Period End	1.25%
Line of Credit Facility, Commitment Fee Percentage	0.50%
Line of Credit Facility, Commitment Fee Amount	$ 225,000
Debt Instrument, Interest Rate, Stated Percentage	2.25%

Property and Equipment

12 Months Ended

Dec. 31, 2023

Property and Equipment [Abstract]

Property, Plant and Equipment Disclosure

Property and Equipment

Property and equipment consists of the following:


	As of December 31,
	2023		2022
	(in millions)

Furniture and equipment	$	1.8	$	3.3
Leasehold improvements	0.5		5.0
Computers and software	45.7		47.6
Automobiles	0.6		0.8
Property and equipment, gross	48.6		56.7
Accumulated depreciation	(42.1)		(44.7)
Property and equipment, net	$	6.5	$	12.0

Depreciation expenses related to property and equipment for the years ended December 31, 2023, 2022, and 2021 were $4.8 million, $5.3 million, and $7.4 million, respectively. Internally developed software costs of $1.8 million and $1.2 million were capitalized during the years ended December 31, 2023 and 2022, respectively.

Cloud Computing Arrangements

The Company's capitalized costs associated with cloud computing arrangements totaled $28.0 million and $42.9 million, which were comprised of service contract fees and implementation costs associated with hosting arrangements on the Company's Consolidated Balance Sheets as of December 31, 2023 and 2022, respectively. Total amortization for hosting arrangements for the years ended December 31, 2023 and 2022 was $16.7 million and $16.4 million, respectively.

In 2023, the Company wrote-off $1.6 million of previously capitalized cloud computing costs associated with a policy management system as part of a continual evaluation of our ongoing technology initiatives, which is included in Other expenses on the Company's Consolidated Statements of Comprehensive Income (Loss).

Restructuring, Impairment, and Other Activities Disclosure

Lease Exit and Disposal Cost

In 2023, the Company recorded a non-recurring charge in connection with the early termination of the lease associated with the Company's former corporate headquarters in Reno, Nevada. This charge included a lease payment of $7.6 million, a write-off related to remaining leasehold improvements and furniture and equipment of $2.6 million, and estimated miscellaneous expenses associated with exiting the property of $0.2 million. The Company also recognized a lease termination gain pertaining to the elimination of the lease liability net of the right-of-use asset of $1.0 million. These amounts are included in Other expenses on the Company's Consolidated Statements of Comprehensive Income (Loss). The decision to terminate this operating lease was undertaken as part of an ongoing review of the Company's future facility needs.

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2023
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), Employers Assurance Company (EAC), and Cerity Insurance Company (CIC), 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. In 1999, the Nevada State Industrial Insurance System (the Fund) entered into a retroactive 100% quota share reinsurance agreement (the LPT Agreement) through a loss portfolio transfer transaction with third party reinsurers. The LPT Agreement commenced on June 30, 1999 and will remain in effect until: (i) all claims under the covered policies have closed; (ii) the LPT Agreement is commuted or terminated upon the mutual agreement of the parties; or (iii) the reinsurers' aggregate maximum limit of liability is exhausted, whichever occurs first. The LPT Agreement does not provide for any additional termination terms. On January 1, 2000, EICN assumed all of the assets, liabilities and operations of the Fund, including the Fund's rights and obligations associated with the LPT Agreement. See Notes 2 and 10. The Company accounts for the LPT Agreement as retroactive reinsurance. Upon entry into the LPT Agreement, an initial deferred reinsurance gain (the Deferred Gain) was recorded as a liability on the Company's Consolidated Balance Sheets. The Company is also entitled to receive a contingent profit commission under the LPT Agreement through June 30, 2024. The contingent profit commission is estimated based on both actual paid results to date and projections of expected paid losses under the LPT Agreement and is recorded as an asset on the Company's Consolidated Balance Sheets. The Contingent Commission receivable at December 31, 2023 was $14.2 million. 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 operates as a single operating segment, Insurance Operations, through its wholly owned subsidiaries. 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 (CODM) to make decisions about resources to be allocated to the segment and assess its performance based on discrete financial information. Prior to December 31, 2023, the Company operated through two reportable segments: Employers and Cerity. All periods prior to December 31, 2023 have been conformed to the current presentation. Detailed financial information about the Company's single operating segment is presented in Note 19. 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, recoverability of deferred income taxes, and valuation of investments. Reclassifications Certain prior period information has been reclassified to conform to the current period presentation.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation [Abstract]

Stock-Based Compensation Disclosure

Stock-Based Compensation

On May 28, 2020, the Company’s stockholders approved the Employers Holdings, Inc. Amended and Restated Equity and Incentive Plan (as amended and restated, the "Plan"). The Plan will expire on the tenth anniversary of April 1, 2020, which is also the effective date of the Plan. The Plan is administered by the Human Capital Management and Compensation Committee of the Board, 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 6,555,000 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.

Employees who were awarded RSUs and PSUs are entitled to receive dividend equivalents for eligible awards, payable in cash, when and if, the underlying award vests and becomes payable. If the underlying award does not vest or is forfeited, dividend equivalents with respect to the underlying award fail to become payable and are forfeited.

As of December 31, 2023, the only stock based incentive awards outstanding under the Plan were RSUs and PSUs.

Compensation costs are recognized based on expected performance, if applicable, net of any estimated forfeitures on a straight-line basis over the requisite employee service periods. Forfeiture rates are based on historical experience and are adjusted in subsequent periods for differences in actual forfeitures from those estimated. The Company’s forfeiture assumptions serve to reduce the unamortized grant date fair value of outstanding awards as well as the associated stock-based compensation expense. As awards are actually forfeited, the number of awards outstanding is reduced and the remaining unamortized grant date fair value is compared to assumed forfeiture levels. True-up adjustments are made as deemed necessary. For the years presented, the Company assumed a zero to 15% forfeiture rate on RSU and PSU awards. Net stock-based compensation expense recognized in the Company's Consolidated Statements of Comprehensive Income (Loss) was as follows:


	Years Ended December 31,
	2023		2022		2021
Stock-based compensation expense related to:	(in millions)

RSUs	3.5		2.6		3.4
PSUs	2.6		2.3		5.7
Total	6.1		4.9		9.1
Less: related tax benefit	1.3		1.0		1.8
Net stock-based compensation expense	$	4.8	$	3.9	$	7.3

Stock Options

No stock options were granted in 2023, 2022 or 2021, and no stock options were outstanding at December 31, 2023.

Changes in outstanding stock options for the year ended December 31, 2023 were as follows:


	Number of Stock Options	Weighted-Average Price		Weighted Average Remaining Contractual Life
Stock options outstanding at January 1, 2021	113,216	$	24.21	1.2 years

Exercised	(48,051)	21.84


Stock options outstanding at December 31, 2021	65,165	25.96		0.7 years

Exercised	(41,665)	24.97


Stock options outstanding at December 31, 2022	23,500	27.72		0.2 years

Exercised	(23,500)	27.72


Stock options outstanding at December 31, 2023	—	—		0.0 years
Exercisable at December 31, 2023	—	—		0.0 years

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


	2023	2022	2021
	(in millions)

Intrinsic value of outstanding stock options	—	0.4	1.0
Intrinsic value of exercisable stock options	—	0.4	1.0

The intrinsic value of stock options exercised was $0.4 million, $0.7 million, and $0.6 million for the years ended December 31, 2023, 2022, and 2021, respectively.

RSUs

The Company has awarded RSUs to non-employee members of the Board and certain employees of the Company.

The RSUs awarded to non-employee members of the Board generally 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.

The RSUs awarded to employees of the Company typically have a service vesting period of approximately four years from the date awarded and vest 25% on or after each of the subsequent four anniversaries of such date. All 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, 2023 were as follows:


	Number of RSUs	Weighted Average Grant Date Fair Value
RSUs outstanding at January 1, 2021	244,344	$	35.08
Granted	86,020	38.29
Forfeited	(35,730)	38.78
Vested	(96,508)	37.71
RSUs outstanding at December 31, 2021	198,126	34.53
Granted	124,042	39.90
Forfeited	(13,728)	38.45
Vested	(51,127)	37.69
RSUs outstanding at December 31, 2022	257,313	36.28
Granted	112,114	40.05
Forfeited	(26,827)	40.06
Vested	(111,158)	33.83
RSUs outstanding at December 31, 2023	231,442	38.84
Vested but unsettled RSUs at December 31, 2023	38,850	35.86

At December 31, 2023, the Company had yet to recognize $5.5 million of expense related to outstanding RSUs and expects to recognize the remaining expense 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:


	2023		2022		2021
	(in millions)
Grant date fair value of RSUs vested	$	3.8	$	1.9	$	3.6
Intrinsic value of RSUs vested	4.4		2.1		3.8

The intrinsic value of outstanding RSUs was $9.1 million, $11.1 million, and $8.2 million at December 31, 2023, 2022, and 2021.

PSUs

The Company has awarded PSUs to certain employees 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 millions)




March 2021(1)	77,320	37.54	2.9
April 2021(1)	980	43.29	—
August 2021(1)	779	41.72	—
March 2022(2)	73,120	40.54	3.0
March 2023(3)	81,800	41.14	3.4
April 2023(3)	1,220	42.34	0.1

(1)The PSUs awarded in March 2021, April 2021, and August 2021 have a performance period of two years followed by an additional one year vesting period. The PSU awards are subject to certain performance goals with payouts that range from 0% to 200% of the target awards. The values shown in the table represent the aggregate number of PSUs awarded at the target level.

(2)The PSUs awarded in March 2022, have a performance period of two years followed by an additional one year vesting period. The PSU awards are subject to certain performance goals with payouts that range from 0% to 250% of the target awards. The values shown in the table represent the aggregate number of PSUs awarded at the target level.

(3)The PSUs awarded in March 2023 and April 2023 have a performance period of three years. The PSU awards are subject to certain performance goals with payouts that range from 0% to 250% of the target awards. The values shown in the table represent the aggregate number of PSUs awarded at the target level.

At December 31, 2023, the Company had yet to recognize $3.4 million of expense related to PSU grants and expects to recognize the remaining expense on a straight-line basis over the next 24 months. This is based on the expectation of the Company achieving a 59% of target rate for the 2022 PSUs, and a 100% of target rate for the 2023 PSUs.

Stock-Based Compensation Performance Share Awards (Details) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Apr. 25, 2023

^[1]

Mar. 15, 2023

^[1]

Mar. 15, 2022

^[2]

Aug. 02, 2021

^[3]

Apr. 05, 2021

^[3]

Mar. 08, 2021

^[3]

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance share awards, expected target

100.00%

59.00%

Performance shares units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense, deferred

$ 3.4

Share-based compensation expense, Period for Recognition

24 months

Officer [Member] | Performance shares units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value of awards awarded on grant date

$ 3.4

$ 3.0

$ 2.9

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 41.14

$ 40.54

$ 37.54

Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period

81,800

73,120

77,320

Performance share awards, minimum payout

0.00%

Performane share awards, maximum payout

250.00%

200.00%

Management | Performance shares units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Fair value of awards awarded on grant date

$ 0.1

$ 0.0

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value

$ 42.34

$ 41.72

$ 43.29

Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period

1,220

779

980

[1]	The PSUs awarded in March 2023 and April 2023 have a performance period of three years. The PSU awards are subject to certain performance goals with payouts that range from 0% to 250% of the target awards. The values shown in the table represent the aggregate number of PSUs awarded at the target level.
[2]	The PSUs awarded in March 2022, have a performance period of two years followed by an additional one year vesting period. The PSU awards are subject to certain performance goals with payouts that range from 0% to 250% of the target awards. The values shown in the table represent the aggregate number of PSUs awarded at the target level.
[3]	The PSUs awarded in March 2021, April 2021, and August 2021 have a performance period of two years followed by an additional one year vesting period. The PSU awards are subject to certain performance goals with payouts that range from 0% to 200% of the target awards. The values shown in the table represent the aggregate number of PSUs awarded at the target level.

Investments Equity Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Equity Securities [Line Items]
Equity securities, cost	$ 125.9	$ 144.2
Equity Securities, FV-NI, Total	211.2	197.0
Industrial and miscellaneous
Equity Securities [Line Items]
Equity securities, cost	104.4	115.3
Equity Securities, FV-NI	181.7	165.3
Other equities
Equity Securities [Line Items]
Equity securities, cost	21.5	28.9
Equity Securities, FV-NI	$ 29.5	$ 31.7

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Summary of income tax contingencies table

The Company's provision for income taxes consisted of the following:


	Years Ended December 31,
	2023		2022		2021
Current tax expense:	(in millions)
Federal	$	23.7	$	23.6	$	20.2
State	1.5		1.1		0.8
Total current tax expense	25.2		24.7		21.0



Total deferred federal tax expense	5.1		(17.3)		6.7
Income tax expense	$	30.3	$	7.4	$	27.7

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

The differences in amounts and percentages between the statutory federal tax rate of 21% and the Company's effective tax rate on net income before income taxes as reflected in the Consolidated Statements of Comprehensive Income (Loss) were as follows:


	Years Ended December 31,
	2023				2022				2021
	(in millions)		(percent)		(in millions)		(percent)		(in millions)		(percent)
U.S. Federal statutory tax rate	$	31.2	21.0	%	$	11.7	21.0	%	$	31.0	21.0	%
State income tax expense, net of federal income tax effect(1)	1.1		0.8		0.9		1.5		0.6		0.4
Nontaxable or nondeductible items
Tax-advantaged investment income	(0.9)		(0.6)		(1.4)		(2.5)		(1.7)		(1.1)
LPT deferred gain amortization and LPT reserve adjustments	(1.5)		(1.0)		(1.7)		(3.1)		(2.4)		(1.6)
IRC section 162(m), excessive employee remuneration	0.9		0.6		0.8		1.4		0.7		0.4

Tax benefit attributable to repeal of IRC section 847	—		—		(1.4)		(2.5)		—		—
Pre-Privatization reserve adjustments, excluding LPT	(0.1)		—		(0.9)		(1.7)		(0.5)		(0.3)
Other	(0.4)		(0.4)		(0.6)		(0.8)		—		—
Effective tax rate	$	30.3	20.4	%	$	7.4	13.3	%	$	27.7	18.8	%

(1) Florida and Illinois make up the majority (greater than 50 percent) of the State income tax expense, net of federal income tax effect category.

Deferred tax assets and liabilities

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


	2023				2022
	Deferred Tax				Deferred Tax
	Assets		Liabilities		Assets		Liabilities
	(in millions)
Unrealized capital gains and losses, net	$	3.1	$	—	$	24.7	$	—
Deferred policy acquisition costs	—		11.9		—		10.3
Intangible assets	—		1.6		—		1.6
Loss reserve discounting for tax reporting	31.2		—		31.2		—
Unearned premiums	14.9		—		13.2		—
Allowance for bad debt	4.0		—		2.9		—
Stock-based compensation	1.6		—		1.8		—
Accrued liabilities	4.9		—		4.6		—


Operating leases	1.2		1.1		2.9		2.4
Other	3.2		6.1		3.2		7.5
Total	$	64.1	$	20.7	$	84.5	$	21.8
Deferred income tax asset, net	$	43.4			$	62.7

Schedule of Unrecognized Tax Benefits Roll Forward

The changes in the balances of gross unrecognized tax benefits were as follows:


	Years Ended December 31,
	2023		2022		2021
	(in millions)
Beginning balance of unrecognized tax benefits	$	0.4	$	0.3	$	0.3
Increases resulting from prior period tax provisions	—		0.1		—

Increases resulting from current period tax provisions	0.2		0.1		0.1

Decreases resulting from lapse of applicable statute of limitations	—		(0.1)		(0.1)
Ending balance of unrecognized tax benefits	$	0.6	$	0.4	$	0.3

Exit and Disposal Cost (Details) - USD ($) $ in Millions	12 Months Ended
Exit and Disposal Cost (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Business Exit Costs	$ 7.6
Asset impairment and related charges	4.2	$ 0.0	$ 1.0
Other General Expense	0.2
Noncash operating lease term adjustment	$ 1.0	$ 0.0	$ 0.0

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Net premiums earned	$ 721.9	$ 675.2	$ 574.4
Net investment income	106.5	89.8	72.7
Net realized and unrealized gains (losses) on investments	22.7	(51.8)	54.6
Other (loss) income	(0.2)	0.3	1.4
Total revenues	850.9	713.5	703.1
Expenses
Losses and loss adjustment expenses	405.7	391.0	315.2
Commission expense	100.0	95.9	76.1
Underwriting and general and administrative expenses	180.0	167.3	160.2
Interest and financing expenses	5.8	3.5	0.5
Other expenses	11.0	0.0	4.1
Total expenses	702.5	657.7	556.1
Net income before income taxes	148.4	55.8	147.0
Income tax expense	30.3	7.4	27.7
Net income	118.1	48.4	119.3
Comprehensive income (loss)
Unrealized AFS investment gains (losses) during the period, net of tax (expense) benefit of $(12.3), $53.8, and $13.6 for the years ended December 31, 2023, 2022, and 2021, respectively	46.6	(202.3)	(51.3)
Reclassification adjustment for realized AFS investment losses (gains) in net income, net of tax (benefit) expense of $(1.7), $(0.8), and $0.9 for the years ended December 31, 2023, 2022, and 2021, respectively	(6.3)	(2.8)	3.2
Other comprehensive income (loss), net of tax	52.9	(199.5)	(54.5)
Total comprehensive income (loss)	$ 171.0	$ (151.1)	$ 64.8
Earnings per common share (Note 18):
Basic	$ 4.48	$ 1.76	$ 4.22
Diluted	4.45	1.75	4.17
Cash dividends declared per common share and eligible plan awards	$ 1.10	$ 3.28	$ 1.00

Schedule II. Condensed Financial Information of Registrant (Condensed Balance Sheets Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fixed maturity securities, amortized cost	$ 2,048.0	$ 2,366.7
Equity securities, cost	125.9	144.2
Short-term investments, amortized cost	$ 33.1	$ 119.1
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)	58,055,968	57,876,287
Common stock, shares outstanding (in shares)	25,369,753	27,160,748
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, Common, Shares	32,686,215	30,715,539
Parent Company [Member]
Fixed maturity securities, amortized cost	$ 1.3	$ 7.9
Equity securities, cost	26.2	37.5
Short-term investments, amortized cost	0.0	20.7
Short-term Investments [Member]
Fixed maturity securities, amortized cost	$ 33.1	$ 119.1

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false

Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
	(in millions)
Unpaid losses and LAE at beginning of period	$	1,960.7	$	1,981.2	$	2,069.4
Less reinsurance recoverable, excluding CECL allowance, on unpaid losses and LAE	445.4		476.9		497.0
Net unpaid losses and LAE at beginning of period	1,515.3		1,504.3		1,572.4
Losses and LAE, net of reinsurance, incurred during the period related to:
Current year	457.8		432.8		366.5
Prior years	(44.9)		(33.5)		(39.8)
Total net losses and LAE incurred during the period	412.9		399.3		326.7
Paid losses and LAE, net of reinsurance, related to:
Current year	111.7		92.5		76.6
Prior years	360.4		295.8		318.2
Total net paid losses and LAE during the period	472.1		388.3		394.8
Ending unpaid losses and LAE, net of reinsurance	1,456.1		1,515.3		1,504.3
Reinsurance recoverable, excluding CECL allowance, on unpaid losses and LAE	428.4		445.4		476.9
Unpaid losses and LAE at end of period	$	1,884.5	$	1,960.7	$	1,981.2

Short-duration Insurance Contracts, Claims Development [Table Text Block]

The Company analyzed the usefulness of disaggregation of its results and determined the characteristics associated with the policies and the related unpaid loss reserves, incurred losses, and payment patterns are similar in nature. As such, the following tables show the Company's historical incurred and cumulative paid losses and LAE development, net of reinsurance, as well as IBNR loss reserves and the number of reported claims on an aggregated basis as of December 31, 2023 for each of the previous 10 accident years.


	Incurred Losses and DCC, Net of Reinsurance
	Years Ended December 31,																				As of December 31, 2023
Accident Year	2014(1)		2015(1)		2016(1)		2017(1)		2018(1)		2019(1)		2020(1)		2021(1)		2022(1)		2023		IBNR		Cumulative number of reported claims
	(in millions, except claims counts)
2014	$	463.4	$	445.8	$	432.9	$	434.6	$	430.5	$	424.7	$	415.5	$	406.0	$	402.1	$	395.9	$	20.1	28,602
2015			422.2		425.8		423.9		419.6		408.7		396.7		384.9		381.9		374.9		20.2		27,282
2016					419.0		414.6		395.4		375.0		364.6		354.8		350.4		347.1		26.6		25,827
2017							412.4		391.3		358.3		337.9		329.8		326.9		322.5		25.1		25,126
2018									422.5		424.6		407.7		400.6		400.5		400.5		26.2		28,020
2019											422.4		435.7		448.5		448.8		443.9		42.7		33,034
2020													365.7		374.0		373.3		366.9		41.9		24,274
2021															339.2		339.0		348.9		44.0		22,879
2022																	399.3		400.7		95.2		23,101
2023																			421.4		190.5		20,088
Total																			$	3,822.7


	Cumulative Paid Losses and DCC, Net of Reinsurance
	Years Ended December 31,
Accident Year	2014(1)		2015(1)		2016(1)		2017(1)		2018(1)		2019(1)		2020(1)		2021(1)		2022(1)		2023
	(in millions)
2014	$	65.3	$	172.7	$	248.9	$	297.2	$	323.4	$	342.1	$	351.4	$	357.7	$	361.6	$	364.7
2015			65.5		174.5		246.9		290.5		311.2		322.2		329.3		333.7		337.6
2016					65.6		166.8		227.7		261.2		278.3		290.0		298.1		302.3
2017							63.5		160.2		215.7		243.7		260.0		269.5		277.1
2018									77.9		189.9		254.2		293.6		315.2		340.1
2019											88.8		212.6		285.2		325.8		354.4
2020													71.9		175.6		233.5		274.3
2021															66.1		166.8		231.2
2022																	76.5		203.7
2023																			92.5
Total																			$	2,777.9
All outstanding liabilities for unpaid losses and DCC prior to 2014, net of reinsurance																			344.4
Total outstanding liabilities for unpaid losses and DCC, net of reinsurance																			$	1,389.2

(1)Data presented for these calendar years is required supplementary information, which is unaudited.

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block]

The following table represents a reconciliation of claims development to the aggregate carrying amount of the liability for unpaid losses and LAE:


	December 31, 2023
	(in millions)
Liabilities for unpaid losses and LAE, net of reinsurance	$	1,389.2
Reinsurance recoverable, excluding CECL allowance, on unpaid losses	428.4
AO	66.9
Total liability for unpaid losses and LAE	$	1,884.5

Short-duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]

The following table presents the average annual percentage payout of incurred claims by age, net of reinsurance, as of December 31, 2023 and is presented as required supplementary information, which is unaudited:


Average Annual Percentage Payout of Claims by Age, Net of Reinsurance
Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
19.2	%	28.9	%	17.5	%	10.3	%	5.7	%	4.0	%	2.2	%	1.3	%	1.0	%	0.8	%

Segments Segment Net Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross premiums written	$ 767.7	$ 714.2	$ 589.7
Premiums Written, Net	760.6	707.2	583.1
Net premiums earned	721.9	675.2	574.4
Net investment income	106.5	89.8	72.7
Net realized and unrealized gains (losses) on investments	22.7	(51.8)	54.6
Other (loss) income	(0.2)	0.3	1.4
Total revenues	850.9	713.5	703.1
Losses and loss adjustment expenses	405.7	391.0	315.2
Commission expense	100.0	95.9	76.1
Underwriting and general and administrative expenses	180.0	167.3	160.2
Interest and financing expenses	5.8	3.5	0.5
Other Expenses	11.0	0.0	4.1
Total expenses	702.5	657.7	556.1
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	148.4	55.8	147.0
Income tax expense	30.3	7.4	27.7
Net income	118.1	48.4	119.3
Insurance Operations Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross premiums written	767.7	714.2	589.7
Premiums Written, Net	760.6	707.2	583.1
Net premiums earned	721.9	675.2	574.4
Net investment income	106.5	89.8	72.7
Net realized and unrealized gains (losses) on investments	22.7	(51.8)	54.6
Other (loss) income	(0.2)	0.3	1.4
Total revenues	850.9	713.5	703.1
Losses and loss adjustment expenses	405.7	391.0	315.2
Commission expense	100.0	95.9	76.1
Underwriting and general and administrative expenses	180.0	167.3	160.2
Interest and financing expenses	5.8	3.5	0.5
Other Expenses	11.0		4.1
Total expenses	702.5	657.7	556.1
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	148.4	55.8	147.0
Income tax expense	30.3	7.4	27.7
Net income	$ 118.1	$ 48.4	$ 119.3

Commitments and Contingencies Future Lease Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Leases, Future Minimum Payments Due [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 1.7
Lessee, Operating Lease, Liability, to be Paid, Year Two	1.5
Lessee, Operating Lease, Liability, to be Paid, Year Three	1.2
Lessee, Operating Lease, Liability, to be Paid, Year Four	1.2
Lessee, Operating Lease, Liability, to be Paid, Year Five	0.4
Lessee, Operating Lease, Liability, to be Paid, after Year Five	0.0
Lessee, Operating Lease, Liability, to be Paid	6.0
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(0.1)
Operating lease liability	5.9	$ 13.6
Finance Lease, Liability, Payment, Due [Abstract]
Finance Lease, Liability, to be Paid, Year One	0.1
Finance Lease, Liability, to be Paid, Year Two	0.1
Finance Lease, Liability, to be Paid, Year Three	0.0
Finance Lease, Liability, to be Paid, Year Four	0.0
Finance Lease, Liability, to be Paid, Year Five	0.0
Finance Lease, Liability, to be Paid, after Year Five	0.0
Finance Lease, Liability, Payment, Due	0.2
Finance Lease, Liability, Undiscounted Excess Amount	0.0
Other liabilities	$ 0.2	$ 0.4

Basis of Presentation Reportable Segments (Details)	12 Months Ended
Basis of Presentation Reportable Segments (Details)	Dec. 31, 2022
Segment Reporting [Abstract]
Number of Reportable Segments	2

FHLB Advances (Details) - USD ($) $ in Millions	12 Months Ended
FHLB Advances (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 11, 2020
Payables and Accruals [Abstract]
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available	$ 10.0
FHLB advances	0.0	$ 182.5		$ 35.0
Repayments of Notes Payable	$ 182.5	0.0	$ 20.0
Letter of credit, unused capacity, commitment fee percentage	15.00%
Interest Expense, Loans from Other Federal Home Loan Banks	$ 5.3	$ 3.0
Federal Home Loan Bank, Advances, Weighted Average Interest Rate	5.11%

Consolidated Statements of Stockholders Equity Parentheticals - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statement of Stockholders Equity Parentheticals [Abstract]
Other Comprehensive Income (Loss), Tax	$ (14.0)	$ 53.0	$ 14.5

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-12

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-10

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-2

+ Details

Investments Available for Sale Securities (Details) - USD ($)
$ in Millions

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

$ 2,048.0

$ 2,366.7

Debt securities, available-for-sale, gross unrealized gain

14.9

3.9

Debt securities, available-for-sale, gross unrealized loss

(123.9)

(179.8)

Fixed maturity securities, fair value

1,936.3

2,186.3

Debt Securities, Available-for-sale, Allowance for Credit Loss

(2.7)

(4.5)

$ (0.2)

US Treasury Securities [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

60.3

95.1

Debt securities, available-for-sale, gross unrealized gain

0.6

0.1

Debt securities, available-for-sale, gross unrealized loss

(2.5)

(4.4)

Fixed maturity securities, fair value

58.4

90.8

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

US Government Agencies Debt Securities [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

2.2

Debt securities, available-for-sale, gross unrealized gain

0.0

Debt securities, available-for-sale, gross unrealized loss

(0.1)

Fixed maturity securities, fair value

2.1

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

US States and Political Subdivisions Debt Securities [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

212.3

326.7

Debt securities, available-for-sale, gross unrealized gain

3.1

0.8

Debt securities, available-for-sale, gross unrealized loss

(5.2)

(9.9)

Fixed maturity securities, fair value

210.2

317.6

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

Corporate Debt Securities [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

952.8

963.4

Debt securities, available-for-sale, gross unrealized gain

8.3

2.0

Debt securities, available-for-sale, gross unrealized loss

(63.2)

(94.5)

Fixed maturity securities, fair value

895.8

868.1

Debt Securities, Available-for-sale, Allowance for Credit Loss

(2.1)

(2.8)

Residential Mortgage Backed Securities [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

399.3

403.5

Debt securities, available-for-sale, gross unrealized gain

0.9

0.3

Debt securities, available-for-sale, gross unrealized loss

(38.0)

(43.6)

Fixed maturity securities, fair value

362.2

360.2

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

Commercial Mortgage Backed Securities [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

70.2

61.5

Debt securities, available-for-sale, gross unrealized gain

0.0

Debt securities, available-for-sale, gross unrealized loss

(6.4)

Fixed maturity securities, fair value

63.8

55.1

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

Asset-backed Securities [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

131.8

74.0

Debt securities, available-for-sale, gross unrealized gain

1.0

0.1

Debt securities, available-for-sale, gross unrealized loss

(4.8)

(8.0)

Fixed maturity securities, fair value

128.0

66.1

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

Other Debt Obligations [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

^[1]

114.2

159.2

Debt securities, available-for-sale, gross unrealized gain

^[1]

1.0

0.6

Debt securities, available-for-sale, gross unrealized loss

^[1]

(0.7)

(2.9)

Fixed maturity securities, fair value

^[1]

113.9

155.2

Debt Securities, Available-for-sale, Allowance for Credit Loss

(0.6)

(1.7)

Collateralized Loan Obligations

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

92.2

268.1

Debt securities, available-for-sale, gross unrealized gain

0.0

Debt securities, available-for-sale, gross unrealized loss

(0.7)

(7.2)

Fixed maturity securities, fair value

91.5

260.9

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

Sovereign Debt Securities

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

12.7

13.0

Debt securities, available-for-sale, gross unrealized gain

0.0

Debt securities, available-for-sale, gross unrealized loss

(2.3)

(2.8)

Fixed maturity securities, fair value

10.4

10.2

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

Short-term Investments [Member]

Debt Securities, Available-for-sale [Line Items]

Fixed maturity securities, amortized cost

33.1

119.1

Debt securities, available-for-sale, gross unrealized gain

0.0

Debt securities, available-for-sale, gross unrealized loss

0.0

Fixed maturity securities, fair value

33.1

119.1

Debt Securities, Available-for-sale, Allowance for Credit Loss

0.0

Total AFS Investments [Domain]

Debt Securities, Available-for-sale [Line Items]

Total Available for sale Debt Securities and Short-term investments, Cost

2,081.1

2,485.8

Total Available for sale Debt Securities and Short-term investments, Unrealized Gain

14.9

3.9

Total Available for sale Debt Securities and Short-term investments, Unrealized Loss

123.9

179.8

Total Available for sale investments

$ 1,969.4

$ 2,305.4

[1]	Other securities within fixed maturity securities consist of bank loans, which are classified as AFS and reported at fair value.

Liability for Unpaid Losses and Loss Adjustment Expenses

12 Months Ended

Dec. 31, 2023

Liability for Unpaid Losses and Loss Adjustment Expenses [Abstract]

Liability for Unpaid Losses and Loss Adjustment Expenses

Accounting for workers' compensation insurance requires the Company to estimate the liability for the expected ultimate cost of unpaid losses and LAE (loss reserves) as of a balance sheet date. Loss reserve estimates are inherently uncertain because the ultimate amount the Company will pay for many of the claims it has incurred as of the balance sheet date will not be known for many years. The estimate of loss reserves is intended to equal the difference between the expected ultimate losses and LAE of all claims that have occurred as of a balance sheet date and amounts already paid. The Company establishes loss reserves based on its own analysis of emerging claims experience and environmental conditions in its markets and review of the results of various actuarial projections. The Company's aggregate carried reserve for unpaid losses and LAE is the sum of its reserves for each accident year and represents its best estimate of outstanding loss reserves.

The amount by which estimated losses in the aggregate differ from those previously estimated for a specific time period is known as reserve "development." Reserve development is unfavorable when losses ultimately settle for more than the amount estimated or subsequent estimates indicate a basis for reserve increases on open claims, causing the previously estimated loss reserves to be ''deficient.'' Reserve development is favorable when estimates of ultimate losses indicate a decrease in established reserves, causing the previously estimated loss reserves to be ''redundant.'' Development is reflected in the Company's operating results through an adjustment to incurred losses and LAE during the period in which it is recognized.

Although claims for which reserves are established may not be paid for several years or more, the Company does not discount loss reserves in its financial statements for the time value of money, in accordance with GAAP.

The three main components of reserves for unpaid losses and LAE are case reserves, incurred but not reported (IBNR) loss reserves, and LAE reserves.

When claims are reported, the Company establishes individual estimates of the ultimate cost of each claim (case reserves). These case reserves are continually monitored and revised in response to new information and for amounts paid.

In addition to case reserves, the Company establishes a provision for IBNR. IBNR is an actuarial estimate composed of the following: (a) future payments on claims that are incurred but have not yet been reported to the Company; (b) a reserve for the additional development on claims that have been reported to the Company; and (c) a provision for additional payments on closed claims that might reopen. IBNR reserves apply to the entire body of claims arising from a specific period, rather than a specific claim. Most of the Company's IBNR reserves relate to estimated future claim payments on recorded open claims.

LAE reserves are the Company's estimate of the future expense to manage, investigate, administer, and settle claims that have occurred, and include legal expenses. LAE reserves are established in the aggregate, rather than on a claim-by-claim basis. LAE reserves are categorized between defense and cost containment (DCC), and adjusting and other (AO).

A portion of the Company's obligations for losses and LAE are ceded to unaffiliated reinsurers. The amount of reinsurance that will be recoverable on losses and LAE reserves includes both the reinsurance recoverable from excess of loss reinsurance contracts, as well as reinsurance recoverable under the terms of the LPT Agreement.

The Company uses actuarial methods to analyze and estimate the aggregate amount of unpaid losses and LAE. Management considers the results of various actuarial methods and their underlying assumptions, among other factors, in establishing reserves for unpaid losses and LAE.

Judgment is required in the actuarial estimation of loss reserves, including the selection of various actuarial methodologies to project the ultimate cost of claims. Specifically, judgment is required in the following areas: the selection of parameters utilized in the various methodologies; the use of industry data and other benchmarks; and the weighting of differing reserve indications resulting from alternative methods and assumptions.

The Company prepares reserve estimates for all accident years using our own historical claims data, industry data and many of the generally accepted actuarial methodologies for estimating loss reserves, such as paid loss development methods, incurred loss development methods, and Bornhuetter-Ferguson methods. These methods vary in their responsiveness to different information, characteristics, and dynamics in the data, and the results assist the actuary in considering these characteristics and dynamics in the historical data. The methods employed for each segment of claims data, and the relative weight accorded to each method, vary depending on the nature of the claims segment and on the age of the claims.

Each actuarial methodology requires the selection and application of various parameters and assumptions. The key parameters and assumptions include the future payment and emergence patterns of our aggregate claims data; the magnitude and changes in claim settlement activity; the effects of legislative benefit changes and/or judicial decisions; and trends in the frequency and severity of claims.

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


	Years Ended December 31,
	2023		2022		2021
	(in millions)
Unpaid losses and LAE at beginning of period	$	1,960.7	$	1,981.2	$	2,069.4
Less reinsurance recoverable, excluding CECL allowance, on unpaid losses and LAE	445.4		476.9		497.0
Net unpaid losses and LAE at beginning of period	1,515.3		1,504.3		1,572.4
Losses and LAE, net of reinsurance, incurred during the period related to:
Current year	457.8		432.8		366.5
Prior years	(44.9)		(33.5)		(39.8)
Total net losses and LAE incurred during the period	412.9		399.3		326.7
Paid losses and LAE, net of reinsurance, related to:
Current year	111.7		92.5		76.6
Prior years	360.4		295.8		318.2
Total net paid losses and LAE during the period	472.1		388.3		394.8
Ending unpaid losses and LAE, net of reinsurance	1,456.1		1,515.3		1,504.3
Reinsurance recoverable, excluding CECL allowance, on unpaid losses and LAE	428.4		445.4		476.9
Unpaid losses and LAE at end of period	$	1,884.5	$	1,960.7	$	1,981.2

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

In 2023, the Company had $44.9 million of net favorable prior accident year loss reserve development, which included $44.6 million of favorable loss reserve development on the Company's voluntary business and $0.3 million on its assigned risk business. The net favorable loss development recognized in 2023 was primarily the result of decreasing medical paid loss trends in California related to accident years 2020 and prior, partially offset by reserve strengthening related to accident year 2021. The rapid economic rebound following the COVID-19 pandemic led to large premium increases related to accident year 2021 that were recognized through policy audits in subsequent years. In response, the Company strengthened its reserves for accident year 2021 to reflect the potential for higher losses arising from the higher than expected premium.

In 2022, the Company had $33.5 million of net favorable prior accident year loss reserve development, which included $32.1 million of favorable loss reserve development on the Company's voluntary business and $1.4 million on its assigned risk business. The net favorable loss development recognized in 2022 was primarily the result of decreasing medical and indemnity paid loss trends related to accident years 2020 and prior.

In 2021, the Company had $39.8 million of net favorable prior accident year loss reserve development, which included $38.0 million of favorable development on its voluntary business and $1.8 million on its assigned risk business. The net favorable development recognized in 2021 was primarily the result of decreasing medical costs and defense and cost containment paid loss trends related to accident years 2017 and prior, partially offset by: (i) $10.0 million of unfavorable development related to accident year 2019, which is reflective of more weight being placed on now sufficiently seasoned loss trends and patterns originating in part from business written in our newer territories; and (ii) $8.0 million of unfavorable loss development associated with two catastrophic non-COVID-19 claims in accident year 2020.

The Company compiles and aggregates its claims data by grouping the claims according to the year in which the claim occurred ("accident year") when analyzing claim payment and emergence patterns and trends over time. Reported claims include any claim that has case reserves and/or loss and LAE payments associated with them.


	Incurred Losses and DCC, Net of Reinsurance
	Years Ended December 31,																				As of December 31, 2023
Accident Year	2014(1)		2015(1)		2016(1)		2017(1)		2018(1)		2019(1)		2020(1)		2021(1)		2022(1)		2023		IBNR		Cumulative number of reported claims
	(in millions, except claims counts)
2014	$	463.4	$	445.8	$	432.9	$	434.6	$	430.5	$	424.7	$	415.5	$	406.0	$	402.1	$	395.9	$	20.1	28,602
2015			422.2		425.8		423.9		419.6		408.7		396.7		384.9		381.9		374.9		20.2		27,282
2016					419.0		414.6		395.4		375.0		364.6		354.8		350.4		347.1		26.6		25,827
2017							412.4		391.3		358.3		337.9		329.8		326.9		322.5		25.1		25,126
2018									422.5		424.6		407.7		400.6		400.5		400.5		26.2		28,020
2019											422.4		435.7		448.5		448.8		443.9		42.7		33,034
2020													365.7		374.0		373.3		366.9		41.9		24,274
2021															339.2		339.0		348.9		44.0		22,879
2022																	399.3		400.7		95.2		23,101
2023																			421.4		190.5		20,088
Total																			$	3,822.7


	Cumulative Paid Losses and DCC, Net of Reinsurance
	Years Ended December 31,
Accident Year	2014(1)		2015(1)		2016(1)		2017(1)		2018(1)		2019(1)		2020(1)		2021(1)		2022(1)		2023
	(in millions)
2014	$	65.3	$	172.7	$	248.9	$	297.2	$	323.4	$	342.1	$	351.4	$	357.7	$	361.6	$	364.7
2015			65.5		174.5		246.9		290.5		311.2		322.2		329.3		333.7		337.6
2016					65.6		166.8		227.7		261.2		278.3		290.0		298.1		302.3
2017							63.5		160.2		215.7		243.7		260.0		269.5		277.1
2018									77.9		189.9		254.2		293.6		315.2		340.1
2019											88.8		212.6		285.2		325.8		354.4
2020													71.9		175.6		233.5		274.3
2021															66.1		166.8		231.2
2022																	76.5		203.7
2023																			92.5
Total																			$	2,777.9
All outstanding liabilities for unpaid losses and DCC prior to 2014, net of reinsurance																			344.4
Total outstanding liabilities for unpaid losses and DCC, net of reinsurance																			$	1,389.2

(1)Data presented for these calendar years is required supplementary information, which is unaudited.

The following table represents a reconciliation of claims development to the aggregate carrying amount of the liability for unpaid losses and LAE:


	December 31, 2023
	(in millions)
Liabilities for unpaid losses and LAE, net of reinsurance	$	1,389.2
Reinsurance recoverable, excluding CECL allowance, on unpaid losses	428.4
AO	66.9
Total liability for unpaid losses and LAE	$	1,884.5


Average Annual Percentage Payout of Claims by Age, Net of Reinsurance
Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
19.2	%	28.9	%	17.5	%	10.3	%	5.7	%	4.0	%	2.2	%	1.3	%	1.0	%	0.8	%

Consolidated Balance Sheets Parentheticals - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Parentheticals [Abstract]
Fixed maturity securities, amortized cost	$ 2,048.0	$ 2,366.7
Debt Securities, Available-for-sale, Allowance for Credit Loss	2.7	4.5
Equity securities, cost	125.9	144.2
Other Investments, at Cost	82.5	54.4
Short-term investments, amortized cost	33.1	119.1
Premium Receivable, Allowance for Credit Loss	17.9	12.8
Reinsurance Recoverable, Allowance for Credit Loss	$ 0.9	$ 0.9
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)	58,055,968	57,876,287
Common stock, shares outstanding (in shares)	25,369,753	27,160,748
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, Common, Shares	32,686,215	30,715,539

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

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 at fair value were as follows as of December 31:


	2023				2022
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets	(in millions)
Total investments at fair value (Note 5)	$	2,180.6	$	2,180.6	$	2,502.4	$	2,502.4
Cash and cash equivalents	226.4		226.4		89.2		89.2
Restricted cash and cash equivalents	0.2		0.2		0.2		0.2

Fair value, assets and liabilities measured on recurring basis table

The following table presents the Company's investments at fair value and the corresponding fair value measurements.


	December 31, 2023						December 31, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
	(in millions)
Fixed maturity securities
U.S. Treasuries	$	—	$	58.4	$	—	$	—	$	90.8	$	—
U.S. Agencies	—		2.1		—		—		2.1		—
States and municipalities	—		210.2		—		—		317.6		—
Corporate securities	—		863.7		32.1		—		851.9		16.2
Residential mortgage-backed securities	—		362.2		—		—		360.2		—
Commercial mortgage-backed securities	—		63.8		—		—		55.1		—
Asset-backed securities	—		113.9		14.1		—		58.1		8.0
Collateralized loan obligations	—		91.5		—		—		260.9		—
Foreign government securities	—		10.4		—		—		10.2		—
Other securities	—		113.9		—		—		155.2		—
Total fixed maturity securities	$	—	$	1,890.1	$	46.2	$	—	$	2,162.1	$	24.2
Equity securities at fair value
Industrial and miscellaneous	$	181.7	$	—	$	—	$	165.3	$	—	$	—

Other	29.5		—		—		31.5		0.2		—
Total equity securities at fair value	$	211.2	$	—	$	—	$	196.8	$	0.2	$	—
Short-term investments	$	17.6	$	15.5	$	—	$	119.1	$	—	$	—
Total investments at fair value	$	228.8	$	1,905.6	$	46.2	$	315.9	$	2,162.3	$	24.2

Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]

The following table presents cash and investments carried at NAV on the Company's Consolidated Balance Sheets.


	December 31, 2023	December 31, 2022
	(in millions)
Cash equivalents measured at NAV	197.2	65.5
Other invested assets carried at NAV	91.5	59.7

Fair value, assets measured on recurring basis, unobservable input reconciliation table

The following table provides a reconciliation of the beginning and ending balances that are measured using Level 3 inputs.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance	$	24.2	$	—
Purchases	20.7		25.8
Unrealized gains (losses) included in comprehensive income (loss)	1.3		(1.6)
Ending balance	$	46.2	$	24.2

Investments

12 Months Ended

Dec. 31, 2023

Investments [Abstract]

Investments

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


	Amortized Cost		Allowance for CECL		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
At December 31, 2023	(in millions)
Fixed maturity securities
U.S. Treasuries	$	60.3	$	—	$	0.6	$	(2.5)	$	58.4
U.S. Agencies	2.2		—		—		(0.1)		2.1
States and municipalities	212.3		—		3.1		(5.2)		210.2
Corporate securities	952.8		(2.1)		8.3		(63.2)		895.8
Residential mortgage-backed securities	399.3		—		0.9		(38.0)		362.2
Commercial mortgage-backed securities	70.2		—		—		(6.4)		63.8
Asset-backed securities	131.8		—		1.0		(4.8)		128.0
Collateralized loan obligations	92.2		—		—		(0.7)		91.5
Foreign government securities	12.7		—		—		(2.3)		10.4
Other securities(1)	114.2		(0.6)		1.0		(0.7)		113.9
Total fixed maturity securities	2,048.0		(2.7)		14.9		(123.9)		1,936.3
Short-term investments	33.1		—		—		—		33.1
Total AFS investments	$	2,081.1	$	(2.7)	$	14.9	$	(123.9)	$	1,969.4

At December 31, 2022
Fixed maturity securities
U.S. Treasuries	$	95.1	$	—	$	0.1	$	(4.4)	$	90.8
U.S. Agencies	2.2		—		—		(0.1)		2.1
States and municipalities	326.7		—		0.8		(9.9)		317.6
Corporate securities	963.4		(2.8)		2.0		(94.5)		868.1
Residential mortgage-backed securities	403.5		—		0.3		(43.6)		360.2
Commercial mortgage-backed securities	61.5		—		—		(6.4)		55.1
Asset-backed securities	74.0		—		0.1		(8.0)		66.1
Collateralized loan obligations	268.1		—		—		(7.2)		260.9
Foreign government securities	13.0		—		—		(2.8)		10.2
Other securities(1)	159.2		(1.7)		0.6		(2.9)		155.2
Total fixed maturity securities	2,366.7		(4.5)		3.9		(179.8)		2,186.3
Short-term investments	119.1		—		—		—		119.1
Total AFS investments	$	2,485.8	$	(4.5)	$	3.9	$	(179.8)	$	2,305.4

(1)Other securities within fixed maturity securities consist of bank loans, which are classified as AFS and reported at fair value.

The cost and estimated fair value of the Company's equity securities recorded at fair value at December 31, 2023 and 2022 were as follows:


	Cost		Estimated Fair Value
	(in millions)
At December 31, 2023
Equity securities at fair value
Industrial and miscellaneous	$	104.4	$	181.7
Other	21.5		29.5
Total equity securities at fair value	$	125.9	$	211.2

At December 31, 2022
Equity securities at fair value
Industrial and miscellaneous	$	115.3	$	165.3
Other	28.9		31.7
Total equity securities at fair value	$	144.2	$	197.0

The Company had Other invested assets totaling $91.5 million and $59.7 million (initial cost of $82.5 million and $54.4 million) at December 31, 2023 and 2022, respectively, consisting of private equity limited partnerships, which are carried at NAV based on information provided by the general partner. These investments are non-redeemable until conversion and are periodically evaluated by the Company for impairment based on the ultimate recovery of the investment. Changes in the value of these investments are recorded through Net realized and unrealized gains and losses on the Company's Consolidated Statements of Comprehensive Income (Loss).

The amortized cost and estimated fair value of the Company's fixed maturity securities at December 31, 2023, 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 millions)
Due in one year or less	$	8.4	$	8.2
Due after one year through five years	642.7		623.7
Due after five years through ten years	615.2		576.6
Due after ten years	88.2		82.3
Mortgage and asset-backed securities	693.5		645.5
Total	$	2,048.0	$	1,936.3

The following is a summary of AFS 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 in each case as of December 31, 2023 and 2022.


	December 31, 2023					December 31, 2022
	Estimated Fair Value		Gross Unrealized Losses		Number of Issues	Estimated Fair Value		Gross Unrealized Losses		Number of Issues
Less than 12 months:	(dollars in millions)
Fixed maturity securities
U.S. Treasuries	$	11.9	$	(0.1)	5	$	76.8	$	(3.5)	13
U.S. Agencies	—		—		—	2.1		(0.1)		1
States and municipalities	39.5		(0.3)		15	193.4		(9.0)		68
Corporate securities	26.1		(0.8)		13	763.3		(76.4)		335
Residential mortgage-backed securities	15.8		(0.2)		15	236.8		(17.9)		186
Commercial mortgage-backed securities	—		—		—	52.5		(5.7)		22
Asset-backed securities	24.0		(0.1)		15	27.6		(2.6)		22
Collateralized loan obligations	—		—		—	209.9		(5.5)		37

Other securities	12.6		(0.1)		70	81.6		(1.8)		224
Total fixed maturity securities	129.9		(1.6)		133	1,644.0		(122.5)		908
Total less than 12 months	$	129.9	$	(1.6)	133	$	1,644.0	$	(122.5)	908

12 months or greater:
Fixed maturity securities
U.S. Treasuries	$	23.7	$	(2.4)	7	$	11.2	$	(0.9)	4
U.S. Agencies	2.2		(0.1)		1	—		—		—
States and municipalities	73.5		(4.9)		32	5.4		(0.9)		3
Corporate securities	684.5		(62.4)		331	84.6		(18.1)		84
Residential mortgage-backed securities	306.6		(37.8)		228	106.6		(25.7)		65
Commercial mortgage-backed securities	53.0		(6.4)		24	2.6		(0.7)		3
Asset-backed securities	47.0		(4.7)		29	27.7		(5.4)		11
Collateralized loan obligations	80.5		(0.7)		21	36.9		(1.7)		11
Foreign government securities	10.4		(2.3)		2	10.2		(2.8)		3
Other securities	10.2		(0.6)		58	38.4		(1.1)		119
Total fixed maturity securities	1,291.6		(122.3)		733	323.6		(57.3)		303
Total 12 months or greater	$	1,291.6	$	(122.3)	733	$	323.6	$	(57.3)	303

The Company recorded CECL on AFS debt securities of $2.7 million and $4.5 million during the years ended December 31, 2023 and 2022 (see Note 6). Those fixed maturity securities whose total fair value was less than amortized cost at December 31, 2023 and December 31, 2022, were those in which the Company had no intent, need or requirement to sell at an amount less than their amortized cost.

Realized gains and losses on investments include the gain or loss on a security at the time of sale compared to its original or adjusted cost (equity securities and other invested assets) or amortized cost (fixed maturity securities). Realized losses on fixed maturity securities are also recognized when securities are written down as a result of an other-than-temporary impairment or for changes in CECL.

Net realized gains on investments and the change in unrealized gains (losses) on the Company's investments recorded at fair value are determined on a specific-identification basis and were as follows:


	Gross Realized Gains		Gross Realized Losses		Net Decrease (Increase) Change in CECL Allowance		Change in Net Unrealized Gains (Losses)		Changes in Fair Value Reflected in Earnings		Changes in Fair Value Reflected in AOCI(1), before tax
	(in millions)
Year Ended December 31, 2023
Fixed maturity securities	$	1.0	$	(10.8)	$	1.8	$	66.9	$	(8.0)	$	66.9
Equity securities	0.2		(5.7)		—		32.5		27.0		—
Other invested assets	—		—		—		3.7		3.7		—
Short-term investments	—		—		—		—		—		—
Total investments	$	1.2	$	(16.5)	$	1.8	$	103.1	$	22.7	$	66.9

Year Ended December 31, 2022
Fixed maturity securities	$	3.2	$	(2.5)	$	(4.3)	$	(252.5)	$	(3.6)	$	(252.5)
Equity securities	41.2		(17.1)		—		(73.3)		(49.2)		—
Other invested assets	—		—		—		1.0		1.0		—
Short-term investments	—		—		—		—		—		—
Total investments	$	44.4	$	(19.6)	$	(4.3)	$	(324.8)	$	(51.8)	$	(252.5)

Year Ended December 31, 2021
Fixed maturity securities	$	4.7	$	(1.1)	$	0.5	$	(68.9)	$	4.1	$	(68.9)
Equity securities	20.6		(5.0)		—		30.0		45.6		—
Other invested assets	—		—		—		4.9		4.9		—
Short-term investments	—		—		—		(0.1)		—		(0.1)
Total investments	$	25.3	$	(6.1)	$	0.5	$	(34.1)	$	54.6	$	(69.0)

(1) AOCI means Accumulated other comprehensive income or loss

Proceeds from the sales of fixed maturity securities were $558.0 million, $313.8 million and $206.7 million for years ended December 31, 2023, 2022, and 2021, respectively.

Net investment income was as follows:


	Years Ended December 31,
	2023		2022		2021
	(in millions)
Fixed maturity securities	$	92.3	$	81.1	$	69.8
Equity securities	6.8		8.3		5.4
Other invested assets	3.8		2.8		2.7
Short-term investments	2.6		0.2		0.2
Cash equivalents and restricted cash	4.7		2.1		—
Gross investment income	110.2		94.5		78.1
Investment expenses	(3.7)		(4.7)		(5.4)
Net investment income	$	106.5	$	89.8	$	72.7

The Company is required by various state laws and regulations to support, through securities on deposit or otherwise, its outstanding loss reserves in certain states in which it does business. These laws and regulations govern not only the amount but also the types of securities that are eligible for deposit. As of December 31, 2023 and 2022, securities having a fair value of $748.1 million and $745.9 million, respectively, were on deposit. Additionally, standby letters of credit from the FHLB were in place in lieu of $70.0 million of securities on deposit as of December 31, 2023 and 2022 (see Note 11).

Certain reinsurance contracts require the Company's 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 fixed maturity securities and restricted cash and cash equivalents held in trust for the benefit of ceding reinsurers at December 31, 2023 and 2022 was $3.0 million and $2.7 million, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Income Taxes

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). The Company elected to early adopt this update as of December 31, 2023 and all prior periods presented have been conformed to the new additional disclosure requirements as applicable.

The Company files a consolidated federal income tax return. The insurance subsidiaries pay premium taxes on premiums in lieu of some states' income or franchise taxes. Tax years 2023 through 2020 remain open and are available for examination by the Internal Revenue Service (IRS).

The Company's provision for income taxes consisted of the following:


	Years Ended December 31,
	2023		2022		2021
Current tax expense:	(in millions)
Federal	$	23.7	$	23.6	$	20.2
State	1.5		1.1		0.8
Total current tax expense	25.2		24.7		21.0



Total deferred federal tax expense	5.1		(17.3)		6.7
Income tax expense	$	30.3	$	7.4	$	27.7


	Years Ended December 31,
	2023				2022				2021
	(in millions)		(percent)		(in millions)		(percent)		(in millions)		(percent)
U.S. Federal statutory tax rate	$	31.2	21.0	%	$	11.7	21.0	%	$	31.0	21.0	%
State income tax expense, net of federal income tax effect(1)	1.1		0.8		0.9		1.5		0.6		0.4
Nontaxable or nondeductible items
Tax-advantaged investment income	(0.9)		(0.6)		(1.4)		(2.5)		(1.7)		(1.1)
LPT deferred gain amortization and LPT reserve adjustments	(1.5)		(1.0)		(1.7)		(3.1)		(2.4)		(1.6)
IRC section 162(m), excessive employee remuneration	0.9		0.6		0.8		1.4		0.7		0.4

Tax benefit attributable to repeal of IRC section 847	—		—		(1.4)		(2.5)		—		—
Pre-Privatization reserve adjustments, excluding LPT	(0.1)		—		(0.9)		(1.7)		(0.5)		(0.3)
Other	(0.4)		(0.4)		(0.6)		(0.8)		—		—
Effective tax rate	$	30.3	20.4	%	$	7.4	13.3	%	$	27.7	18.8	%

(1) Florida and Illinois make up the majority (greater than 50 percent) of the State income tax expense, net of federal income tax effect category.

The LPT Reserve Adjustments for the years ended December 31, 2023 and 2021 decreased GAAP net income by $0.9 million, and increased net income by $2.6 million, respectively, but did not affect taxable income. The LPT Contingent Commission Adjustments increased net income by $0.3 million, and $0.5 million during 2023 and 2021, respectively, but did not increase taxable income.

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


	2023				2022
	Deferred Tax				Deferred Tax
	Assets		Liabilities		Assets		Liabilities
	(in millions)
Unrealized capital gains and losses, net	$	3.1	$	—	$	24.7	$	—
Deferred policy acquisition costs	—		11.9		—		10.3
Intangible assets	—		1.6		—		1.6
Loss reserve discounting for tax reporting	31.2		—		31.2		—
Unearned premiums	14.9		—		13.2		—
Allowance for bad debt	4.0		—		2.9		—
Stock-based compensation	1.6		—		1.8		—
Accrued liabilities	4.9		—		4.6		—


Operating leases	1.2		1.1		2.9		2.4
Other	3.2		6.1		3.2		7.5
Total	$	64.1	$	20.7	$	84.5	$	21.8
Deferred income tax asset, net	$	43.4			$	62.7

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 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. Accordingly, as of December 31, 2023, the Company did not record a deferred tax asset valuation allowance.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, in income taxes. For the years ended December 31, 2023, 2022, and 2021, respectively, the Company incurred no material interest and penalties. All of the total amount of gross unrecognized tax benefits, if recognized, would impact the Company's effective tax rate. The changes in the balances of gross unrecognized tax benefits were as follows:


	Years Ended December 31,
	2023		2022		2021
	(in millions)
Beginning balance of unrecognized tax benefits	$	0.4	$	0.3	$	0.3
Increases resulting from prior period tax provisions	—		0.1		—

Increases resulting from current period tax provisions	0.2		0.1		0.1

Decreases resulting from lapse of applicable statute of limitations	—		(0.1)		(0.1)
Ending balance of unrecognized tax benefits	$	0.6	$	0.4	$	0.3

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Schedule VI. Supplemental Information (Notes)

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]

SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Text Block]


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 (including LPT Amortization and Adj)	Amortization of Deferred Policy Acquisition Costs		Paid Losses And LAE (including LPT Amortization and Adj)	Net Premiums Written
(in millions)
Insurance Operations
2023	$	55.6	$	1,884.5	$	379.7	$	721.9	$	106.5	$	457.8	(52.1)	$	113.8	464.9	$	760.6
2022	48.3		1,960.7		339.5		675.2		89.8		432.8		(41.8)	106.4		380.0	707.2
2021	43.7		1,981.2		304.7		574.4		72.7		366.5		(51.3)	92.2		383.3	583.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 18
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-18(Column A)(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480149/944-235-S99-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-18(Column A)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480149/944-235-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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-URI https://asc.fasb.org//1943274/2147480149/944-235-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Paragraph 3
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Section S99
-Paragraph 3
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-Publisher FASB
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480149/944-235-S99-3

+ Details

Lease Exit and Disposal Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Business Exit Costs	$ 7.6
Asset impairment and related charges	4.2	$ 0.0	$ 1.0
Other General Expense	0.2
Noncash operating lease term adjustment	$ 1.0	$ 0.0	$ 0.0

Accumulated Other Comprehensive Income, Net

12 Months Ended

Dec. 31, 2023

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

Accumulated Other Comprehensive Income, Net

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss 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 loss:


	Years Ended December 31,
	2023		2022
	(in millions)
Net unrealized losses on investments, before taxes	$	(108.9)	$	(175.8)
Deferred tax benefit on net unrealized losses	22.9		36.9
Total accumulated other comprehensive loss	$	(86.0)	$	(138.9)

Statutory Matters Statutory Matters (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 20, 2024	Jul. 14, 2024	Mar. 27, 2024	Mar. 15, 2024
Statutory Accounting Practices [Line Items]
Capital stock and unassigned surplus	$ 739.7	$ 696.7
Paid in capital	243.2	243.2
Total statutory surplus	982.9	939.9
SAP, net income amount	96.2	105.1	$ 94.9
Total stockholders’ equity	1,013.9	$ 944.2
EICN
Statutory Accounting Practices [Line Items]
Capital stock and unassigned surplus	$ 247.5
Extraordinary dividends, approves or does not disapprove the payment within	30 days
Percentage of statutory surplus as regards to policyholders at the next preceding December 31.	10.00%
Dividends paid, without approval of regulatory agency	$ 9.8
EICN \| Forecast [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments with Regulatory Approval						$ 13.7
ECIC
Statutory Accounting Practices [Line Items]
Percentage of statutory surplus as regards to policyholders at the next preceding December 31.	10.00%
Percentage of Net Income	100.00%
Dividends paid, without approval of regulatory agency	$ 21.0
ECIC \| Forecast [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments with Regulatory Approval							$ 23.3
EPIC
Statutory Accounting Practices [Line Items]
Dividends paid, without approval of regulatory agency	22.9
EPIC \| Forecast [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments with Regulatory Approval					$ 23.2
EAC
Statutory Accounting Practices [Line Items]
Dividends paid, without approval of regulatory agency	21.0
EAC \| Forecast [Member]
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments with Regulatory Approval					$ 22.4
EAC and EPIC
Statutory Accounting Practices [Line Items]
Total statutory surplus	$ 4.0
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%
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	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
CIC
Statutory Accounting Practices [Line Items]
Percentage of statutory surplus as regards to policyholders at the next preceding December 31.	10.00%
Dividends paid, without approval of regulatory agency	$ 4.0
net investment income, Percentage Of	100.00%
CIC \| Forecast [Member]
Statutory Accounting Practices [Line Items]
Maximum dividends that may be paid without prior approval				$ 5.7

Fair Value of Financial Instruments Instruments Carried at NAV (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Instruments Carried at NAV [Abstract]
Fair value investments entities that calculate net asset value per share liquidating investment original expected lives increments	1 year
Unfunded commitment, private investment fund	$ 25.4	$ 55.2
Cash equivalents measured at NAV, which approximates fair value	197.2	65.5
Alternative Investment	$ 91.5	$ 59.7

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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 Company's Consolidated Statements of Comprehensive Income (Loss) was as follows:


	Years Ended December 31,
	2023		2022		2021
Stock-based compensation expense related to:	(in millions)

RSUs	3.5		2.6		3.4
PSUs	2.6		2.3		5.7
Total	6.1		4.9		9.1
Less: related tax benefit	1.3		1.0		1.8
Net stock-based compensation expense	$	4.8	$	3.9	$	7.3

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, 2023 were as follows:


	Number of Stock Options	Weighted-Average Price		Weighted Average Remaining Contractual Life
Stock options outstanding at January 1, 2021	113,216	$	24.21	1.2 years

Exercised	(48,051)	21.84


Stock options outstanding at December 31, 2021	65,165	25.96		0.7 years

Exercised	(41,665)	24.97


Stock options outstanding at December 31, 2022	23,500	27.72		0.2 years

Exercised	(23,500)	27.72


Stock options outstanding at December 31, 2023	—	—		0.0 years
Exercisable at December 31, 2023	—	—		0.0 years

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

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


	2023	2022	2021
	(in millions)

Intrinsic value of outstanding stock options	—	0.4	1.0
Intrinsic value of exercisable stock options	—	0.4	1.0

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

Changes in outstanding RSUs for the year ended December 31, 2023 were as follows:


	Number of RSUs	Weighted Average Grant Date Fair Value
RSUs outstanding at January 1, 2021	244,344	$	35.08
Granted	86,020	38.29
Forfeited	(35,730)	38.78
Vested	(96,508)	37.71
RSUs outstanding at December 31, 2021	198,126	34.53
Granted	124,042	39.90
Forfeited	(13,728)	38.45
Vested	(51,127)	37.69
RSUs outstanding at December 31, 2022	257,313	36.28
Granted	112,114	40.05
Forfeited	(26,827)	40.06
Vested	(111,158)	33.83
RSUs outstanding at December 31, 2023	231,442	38.84
Vested but unsettled RSUs at December 31, 2023	38,850	35.86

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:


	2023		2022		2021
	(in millions)
Grant date fair value of RSUs vested	$	3.8	$	1.9	$	3.6
Intrinsic value of RSUs vested	4.4		2.1		3.8

PSUs awarded to certain officers table

The Company has awarded PSUs to certain employees 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 millions)




March 2021(1)	77,320	37.54	2.9
April 2021(1)	980	43.29	—
August 2021(1)	779	41.72	—
March 2022(2)	73,120	40.54	3.0
March 2023(3)	81,800	41.14	3.4
April 2023(3)	1,220	42.34	0.1

Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

Premium Receivable, Allowance for Credit Loss

The table below shows the changes in the allowance for CECL on premiums receivable.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance of the allowance for CECL on premiums receivable	$	12.8	$	10.3
Current period provision for CECL	17.3		9.6
Write-offs charged against the allowance	(3.9)		(2.0)
Recoveries collected	(8.3)		(5.1)
Ending balance of the allowance for CECL on premiums receivable	$	17.9	$	12.8

Reinsurance Recoverable, Allowance for Credit Loss

The table below shows the changes in the allowance for CECL on reinsurance recoverables.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance of the allowance for CECL on reinsurance recoverables	$	0.9	$	0.6
Current period provision for CECL	—		0.3
Ending balance of the allowance for CECL on reinsurance recoverables	$	0.9	$	0.9

Debt Securities, Available-for-sale, Allowance for Credit Loss

The table below shows the changes in the allowance for CECL on AFS securities.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance of the allowance for CECL on AFS securities	$	4.5	$	0.2
Current period provision for CECL	(0.1)		4.5
Reductions in allowance from disposals	(1.7)		—
Recoveries of amounts previously written off	—		(0.2)
Ending balance of the allowance for CECL on AFS securities	$	2.7	$	4.5

Schedule II. Condensed Financial Information of Registrant (Condensed Statements of Income) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Net investment income	$ 106.5	$ 89.8	$ 72.7
Net realized and unrealized gains (losses) on investments	22.7	(51.8)	54.6
Total revenues	850.9	713.5	703.1
Expenses
Underwriting and general and administrative expenses	180.0	167.3	160.2
Interest and financing expenses	5.8	3.5	0.5
Total expenses	702.5	657.7	556.1
Income tax expense	30.3	7.4	27.7
Net income	$ 118.1	$ 48.4	$ 119.3
Earnings per common share for the stated periods (Note 17):
Basic	$ 4.48	$ 1.76	$ 4.22
Diluted	4.45	1.75	4.17
Cash dividends declared per common share and eligible plan awards	$ 1.10	$ 3.28	$ 1.00
Parent Company [Member]
Revenues
Net investment income	$ 3.7	$ 3.6	$ 0.6
Net realized and unrealized gains (losses) on investments	1.2	(6.5)	(0.2)
Total revenues	4.9	(2.9)	0.4
Expenses
Underwriting and general and administrative expenses	12.1	13.5	15.0
Interest and financing expenses	0.4	0.5	0.5
Total expenses	12.5	14.0	16.7
Loss before income taxes and equity in earnings of subsidiaries	(7.6)	(16.9)	(16.3)
Income tax expense	(1.3)	(3.4)	(3.1)
Net loss before equity in earnings of subsidiaries	(6.3)	(13.5)	(13.2)
Equity in earnings of subsidiaries	124.4	61.9	132.5
Net income	$ 118.1	$ 48.4	$ 119.3
Earnings per common share for the stated periods (Note 17):
Basic	$ 4.48	$ 1.76	$ 4.22
Diluted	4.45	1.75	4.17
Cash dividends declared per common share and eligible plan awards	$ 1.10	$ 3.28	$ 1.00

Employee Benefit and Retirement Plans	12 Months Ended
Employee Benefit and Retirement Plans	Dec. 31, 2023
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 a 100% matching contribution on salary deferrals up to 3% of compensation and then a 50% matching contribution on salary deferrals from 3% to 5% of compensation. The Company's matching contribution to the Employers 401(k) Plan was $2.3 million, $2.0 million, and $2.1 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Commitments and Contingencies Contingencies Surrounding Insurance Assessments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Amount of Insurance-related assessment liability	$ 13.0	$ 11.1
Payment period for assessment liability based on individual states regulations	one year
Other assets, prepaid policy surcharges	$ 12.5	$ 15.6
Expected realization period for assets related to policy surcharges	one to ten year periods

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Funds held by or deposited with reinsurers	$ 3.0	$ 2.7
Restricted cash and cash equivalents	0.2	0.2
Premiums receivable from policyholders for final audit	42.9	38.7
Premium Receivable, Allowance for Credit Loss	17.9	12.8	$ 10.3
Write-offs, net of recoveries of amounts previously written off	3.9	2.0	2.5
Deferred policy acquisition cost, amortization expense	113.8	106.4	92.2
Premium Deficiency	0.0	0.0	$ 0.0
Unpaid losses	$ 427.5	444.5
LPT - loss expense as a percentange of losses paid, for management of LPT claims	7.00%
LPT favorable/ unfavorable difference, percentage	30.00%
LPT actual amounts paid versus expected amounts, period	every five years
Goodwill and other intangible asset impairment	$ 0.0	0.0
Amortization of intangible assets	$ 0.0	0.0
Income Tax Examination, Likelihood of Unfavorable Settlement	50
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross carrying amount	$ 23.0	23.0
Intangible assets, accumulated amortization	(9.4)	(9.4)
Intangible assets, net	$ 13.6	13.6
Minimum [Member] \| Leasehold improvements
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] \| Electronic Data Processing Equipment, Software, Furniture and Equipment and Automobiles [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member] \| Leasehold improvements
Property, Plant and Equipment, Useful Life	8 years
Maximum [Member] \| Electronic Data Processing Equipment, Software, Furniture and Equipment and Automobiles [Member]
Property, Plant and Equipment, Useful Life	7 years
Funds Held in Trust, Reinsurance Agreement [Domain]
Restricted cash and cash equivalents	$ 0.2
Licensing Agreements [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross carrying amount	13.5	13.5
Intangible assets, accumulated amortization	0.0	0.0
Intangible assets, net	13.5	13.5
Service Agreements [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross carrying amount	9.4	9.4
Intangible assets, accumulated amortization	(9.4)	(9.4)
Intangible assets, net	0.0	0.0
Other Intangible Assets [Member]
Finite-Lived Intangible Assets, Net	0.1	0.1
Finite-Lived Intangible Assets, Gross	0.1	0.1
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, accumulated amortization	$ 0.0	$ 0.0

Commitments and Contingencies Leases, Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating Lease, Payments	$ 1.6	$ 3.4
Finance Lease, Interest Payment on Liability	$ 0.2	$ 0.2

Schedule II. Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2023

Notes to Condensed Financial Statments [Abstract]

Schedule II. Condensed Financial Information of Registrant


Employers Holdings, Inc.

Condensed Balance Sheets

	December 31,
	2023		2022
Assets	(in millions, except share data)
Investments:
Investment in subsidiaries	$	972.4	$	856.3
Fixed maturity securities at fair value (amortized cost $1.3 at December 31, 2023 and $7.9 at December 31, 2022)	1.3		7.9
Equity securities at fair value (cost $26.2 at December 31, 2023 and $37.5 at December 31, 2022)	24.2		33.0
Short-term investments at fair value (amortized cost $37.5 at December 31, 2022)	—		20.7
Total investments	997.9		917.9

Cash and cash equivalents	20.3		37.3

Accrued investment income	0.1		0.4
Intercompany receivable	0.4		0.1

Deferred income taxes, net	1.9		2.9
Other assets	0.3		0.7
Total assets	$	1,020.9	$	959.3

Liabilities and stockholders' equity
Accounts payable and accrued expenses	$	6.5	$	6.2
Intercompany payable	—		0.6



Other liabilities	0.5		8.3
Total liabilities	7.0		15.1

Stockholders' equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 58,055,968 and 57,876,287 shares issued and 25,369,753 and 27,160,748 shares outstanding at December 31, 2023 and 2022, respectively	0.6		0.6

Additional paid-in capital	419.8		414.6
Retained earnings	1,384.3		1,295.6
Accumulated other comprehensive loss, net of tax	(86.0)		(138.9)
Treasury stock, at cost (32,686,215 shares at December 31, 2023 and 30,715,539 shares at December 31, 2022)	(704.8)		(627.7)
Total stockholders' equity	1,013.9		944.2
Total liabilities and stockholders' equity	$	1,020.9	$	959.3


Employers Holdings, Inc.

Condensed Statements of Income

	Years Ended December 31,
	2023		2022		2021
	(in millions, except per share data)
Revenues
Net investment income	$	3.7	$	3.6	$	0.6
Net realized and unrealized gains (losses) on investments	1.2		(6.5)		(0.2)
Total revenues	4.9		(2.9)		0.4

Expenses
Underwriting and general and administrative expenses	12.1		13.5		15.0
Interest and financing expenses	0.4		0.5		0.5
Total expenses	12.5		14.0		16.7

Loss before income taxes and equity in earnings of subsidiaries	(7.6)		(16.9)		(16.3)
Income tax benefit	(1.3)		(3.4)		(3.1)
Net loss before equity in earnings of subsidiaries	(6.3)		(13.5)		(13.2)
Equity in earnings of subsidiaries	124.4		61.9		132.5
Net income	$	118.1	$	48.4	$	119.3

Earnings per common share:
Basic	$	4.48	$	1.76	$	4.22
Diluted	$	4.45	$	1.75	$	4.17

Cash dividends declared per common share and eligible plan awards	$	1.10	$	3.28	$	1.00


Employers Holdings, Inc.

Condensed Statement of Cash Flows

	Years Ended December 31,
	2023		2022		2021
	(in millions)
Operating activities
Net income	$	118.1	$	48.4	$	119.3
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(45.7)		117.6		(40.9)

Net realized and unrealized (gains) losses on investments	(1.2)		6.5		0.2
Stock-based compensation	6.2		5.1		9.1


Net amortization on investments	—		0.1		0.1
Deferred income tax expense (benefit)	1.1		(0.5)		(0.2)
Change in operating assets and liabilities:
Accounts payable, accrued expenses, and other liabilities	(0.2)		0.8		0.3
Federal income taxes	(7.8)		9.8		(0.7)
Other assets	0.5		0.2		(0.4)
Intercompany payables and receivables	(0.9)		0.6		(0.1)
Other	—		(0.1)		(0.1)
Net cash provided by operating activities	70.1		188.5		86.6

Investing activities
Purchases of fixed maturity securities	—		(14.7)		—
Purchases of equity securities	—		(40.2)		(35.0)
Purchases of short-term securities	(18.6)		(24.7)		—
Proceeds from sale of fixed maturity securities	6.6		16.0		0.4
Proceeds from sale of equity securities	10.0		25.5		10.3
Proceeds from maturities and redemptions of short-term investments	39.3		4.0		—

Net change in unsettled investment purchases and sales	—		—		5.8

Capital contributions to subsidiaries	(17.6)		—		—

Net cash provided by (used in) investing activities	19.7		(34.1)		(18.5)

Financing activities
Acquisition of common stock	(76.1)		(30.4)		(42.6)
Cash transactions related to stock-based compensation	(1.0)		(1.2)		(2.7)
Dividends paid to stockholders and eligible plan award holders	(29.7)		(90.3)		(29.0)
Proceeds from line of credit advances	—		10.0		27.0
Repayments on line of credit advances	—		(10.0)		(27.0)

Net cash used in financing activities	(106.8)		(121.9)		(74.3)

Net (decrease) increase in cash and cash equivalents	(17.0)		32.5		(6.2)
Cash and cash equivalents at the beginning of the period	37.3		4.8		11.0
Cash and cash equivalents at the end of the period	$	20.3	$	37.3	$	4.8

Property and Equipment Property and Equipment breakout (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property and Equipment [Line Items]
Property and equipment, gross	$ 48.6	$ 56.7
Accumulated depreciation, depletion and amortization, property and equipment	42.1	44.7
Property and equipment, net	6.5	12.0
Payments to develop software	1.8	1.2
Cloud computing arrangements	28.0	42.9
Amortization of cloud computing arrangements	16.7	16.4	$ 14.2
Depreciation	4.8	5.3	7.4
Asset impairment and related charges	4.2	0.0	$ 1.0
Property, Plant and Equipment
Property and Equipment [Line Items]
Asset impairment and related charges	2.6
Software and Software Development Costs
Property and Equipment [Line Items]
Asset impairment and related charges	1.6
Furniture and equipment
Property and Equipment [Line Items]
Property and equipment, gross	1.8	3.3
Leasehold improvements
Property and Equipment [Line Items]
Property and equipment, gross	0.5	5.0
Computer and software
Property and Equipment [Line Items]
Property and equipment, gross	45.7	47.6
Automobiles
Property and Equipment [Line Items]
Property and equipment, gross	$ 0.6	$ 0.8

Stock-Based Compensation Changes in Outstanding Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share awards, expected target	100.00%	59.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of outstanding options or share units	0	23,500	65,165	113,216
Number of options or share units, granted	0	0	0
Stock-options exercised, shares	(23,500)	(41,665)	(48,051)
Number of exercisable options or share units	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0
Weighted average exercise price, outstanding	0	$ 27.72	$ 25.96	$ 24.21
Weighted average exercise price, exercises	$ 27.72	$ 24.97	$ 21.84
Weighted average remaining contractual life	0 years	2 months 12 days	8 months 12 days	1 year 2 months 12 days
Options exercised, intrinsic value	$ 0.4	$ 0.7	$ 0.6
Options exercisable, intrinsic value	0.0	0.4	1.0
Options outstanding, intrinsic value	$ 0.0	$ 0.4	$ 1.0
Stock Options Exercisable [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual life	0 years
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of outstanding options or share units	231,442	257,313	198,126	244,344
Number of options or share units, granted	112,114	124,042	86,020
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 40.05	$ 39.90	$ 38.29
Number of options or share units, forfeited	(26,827)	(13,728)	(35,730)
Number of vested options or share units	(111,158)	(51,127)	(96,508)
Weighted average exercise price, forfeitures	$ 40.06	$ 38.45	$ 38.78
Weighted average grant date fair value	38.84	36.28	34.53	$ 35.08
Weighted average exercise price, vested	$ 33.83	$ 37.69	$ 37.71
Share-based compensation expense, deferred	$ 5.5
Share-based compensation expense, Period for Recognition	39 months
Service vesting period for options awarded	4 years
Vesting rights for options awarded	vest 25% on or after each of the subsequent four anniversaries of such date
Options vested, fair value	$ 3.8	$ 1.9	$ 3.6
Options exercisable, intrinsic value	4.4	2.1	3.8
Options outstanding, intrinsic value	$ 9.1	$ 11.1	$ 8.2
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	38,850
Weighted average grant date fair value	$ 35.86

Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares reserved for grants	6,555,000
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 6.1	$ 4.9	$ 9.1
Less: related tax benefit	1.3	1.0	1.8
Net stock-based compensation expense	$ 4.8	3.9	7.3
% of Shares Subject to Forfeiture	0.00%
Maximum Percentage of Shares Subject to Forfeiture	15.00%
Restricted stock units (RSUs)
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 3.5	2.6	3.4
Performance shares units [Member]
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 2.6	$ 2.3	$ 5.7

Accumulated Other Comprehensive Income, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax	$ (108.9)	$ (175.8)
Deferred tax expense	22.9	36.9
Total accumulated other comprehensive income, net	$ (86.0)	$ (138.9)

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies [Abstract]

Cash and Cash Equivalents, Policy

Cash and Cash Equivalents

The Company considers all liquid investments with maturities of less than three months, as measured from the date of purchase, to be cash equivalents.

Restricted Cash and Cash Equivalents, Policy

Restricted Cash and Cash Equivalents

Investments, Policy

Short-Term Investments

The Company considers all liquid investments with maturities of between three and twelve months, as measured from the date of purchase, to be short-term investments.

Investment Securities

Realized 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

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.

Cloud Computing Arrangements, Policy

Cloud Computing Arrangements

Lessee, Leases, Policy

Operating leases

Finance Leases

Income Taxes, Policy

Income Taxes

The Company recognizes accrued interest and penalties, if any, in income taxes. For the years ended December 31, 2023 and 2022, the Company incurred no material interest and penalties.

Credit Risk, Policy

Credit Risk

The Company's premiums receivable are generally diversified due to the large number of entities composing the Company's policyholder base and their dispersion across many different industries.

The Company monitors the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies.

Fair Value of Financial Instruments, Policy

Fair Value of Financial Instruments

The following methods and assumptions were used by the Company in estimating the fair value of its 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:


	2023						2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(in millions)
State licenses	$	13.5	$	—	$	13.5	$	13.5	$	—	$	13.5
Insurance relationships	9.4		$	(9.4)	—		9.4		(9.4)		—
Other	0.1		—		0.1		0.1		—		0.1
Total	$	23.0	$	(9.4)	$	13.6	$	23.0	$	(9.4)	$	13.6

Stock-based Compensation, Policy

Stock-Based Compensation

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Common Share

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilutive impact of all common stock equivalents on earnings per share. Diluted earnings per share includes common shares assumed issued under the "treasury stock method," which reflects the potential dilution that would occur if outstanding RSUs and PSUs vested, and stock options were to be exercised.

Employees who are awarded RSUs and PSUs are entitled to receive dividend equivalents for eligible awards, payable in cash, when and if, the underlying award vests and becomes payable. Therefore, these awards are not considered participating securities for the purposes of determining earnings per share.

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


	Years Ended December 31,
	2023		2022		2021
	(in millions, except share data)
Net income	$	118.1	$	48.4	$	119.3
Weighted average number of shares outstanding–basic	26,368,801		27,503,941		28,289,118
Effect of dilutive securities:
Stock options	2,072		11,256		27,033
PSUs	110,342		131,465		237,999
RSUs	42,436		34,326		46,843
Dilutive potential shares	154,850		177,047		311,875
Weighted average number of shares outstanding–diluted	26,523,651		27,680,988		28,600,993

Diluted earnings per share excludes outstanding potential dilutive shares in periods where the inclusion of such securities would be anti-dilutive under the treasury stock methodology. During the year ended December 31, 2023, 22,395 potential dilutive shares were excluded from the Company's diluted earnings per share computations because they were determined to be anti-dilutive. During the years ended December 31, 2022 and 2021, no potential dilutive shares were excluded from the Company's diluted earnings per share computations because none were determined to be anti-dilutive.

No outstanding PSUs and RSUs are considered in the Company's diluted earnings per share computations in any period that involves a net loss because their inclusion would be anti-dilutive.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2023
Equity, Attributable to Parent [Abstract]
Treasury Stock	Stockholders' Equity Stock Repurchase Programs On July 26, 2023, the Board authorized a new stock repurchase authorization for repurchases up to $50.0 million of our common stock from July 31, 2023 through December 31, 2024 (the 2023 Program). The 2023 Program replaced its former program (the 2021 Program) that was set to expire on December 31, 2023, but the remaining authorization had been exhausted. The 2023 Program provides that shares may be purchased in the open market and/or in privately negotiated transactions from time to time, and that all purchases shall be made in compliance with all applicable provisions of the Nevada Revised Statutes and federal and state securities laws including, Rules 10b5-1 and 10b-18 of the Exchange Act, as amended. Through December 31, 2023, the Company has repurchased a total of 752,543 shares of common stock at an average price of $38.68 per share, including commissions, for a total of $29.1 million under the 2023 Program. Prior to the commencement of the 2023 Program, the Company repurchased a total of 2,535,782 shares of common stock at an average price of $39.39 per share, including commissions for a total of $99.9 million under the 2021 Program. Since the Company's initial public offering in January 2007 through December 31, 2023, the Company has repurchased a total of 32,686,215 shares of common stock at an average cost per share of $21.54 through various stock repurchase programs, which is reported as treasury stock, at cost, on its Consolidated Balance Sheets. The Inflation Reduction Act of 2022 added a new IRC section, Section 4501, that imposes a 1% excise tax on stock repurchases on publicly traded companies that occurred after December 31, 2022. The Company's excise tax obligation is $0.7 million at December 31, 2023, which is included in treasury stock, on its Consolidated Balance Sheets.

Schedule VI. Supplemental Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Unearned premiums	$ 379.7	$ 339.5
Net investment income	106.5	89.8	$ 72.7
Deferred policy acquisition cost, amortization expense	113.8	106.4	92.2
Deferred policy acquisition costs	55.6	48.3
Unpaid losses and loss adjustment expenses	1,884.5	1,960.7	1,981.2	$ 2,069.4
Prior years	(44.9)	(33.5)	(39.8)
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid	472.1	388.3	394.8
Net premiums earned	721.9	675.2	574.4
Current year	457.8	432.8	366.5
Premiums Written, Net	760.6	707.2	583.1
Losses and loss adjustment expenses	405.7	391.0	315.2
Insurance Operations Segment
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Unearned premiums	379.7	339.5	304.7
Net investment income	106.5	89.8	72.7
Deferred policy acquisition cost, amortization expense	113.8	106.4	92.2
Deferred policy acquisition costs	55.6	48.3	43.7
Unpaid losses and loss adjustment expenses	1,884.5	1,960.7	1,981.2
Prior years	(52.1)	(41.8)	(51.3)
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid	464.9	380.0	383.3
Net premiums earned	721.9	675.2	574.4
Current year	457.8	432.8	366.5
Premiums Written, Net	760.6	707.2	583.1
Losses and loss adjustment expenses	$ 405.7	$ 391.0	$ 315.2

Commitments and Contingencies Capital Commitment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Capital Commitment [Abstract]
Unfunded commitment, private investment fund	$ 25.4	$ 55.2

Segments Geographic Information (Details) $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
CALIFORNIA
Revenue, Major Customer [Line Items]
Premiums In Force	$ 311.5	$ 279.7	$ 258.4
Policies In force	43,353	42,876	40,704
FLORIDA
Revenue, Major Customer [Line Items]
Premiums In Force	$ 56.6	$ 49.4	$ 41.1
Policies In force	10,008	9,417	7,989
NEW YORK
Revenue, Major Customer [Line Items]
Premiums In Force	$ 31.9	$ 27.3	$ 24.5
Policies In force	7,603	7,497	7,307
All Other States
Revenue, Major Customer [Line Items]
Premiums In Force	$ 294.6	$ 266.1	$ 247.4
Policies In force	65,445	61,566	55,350
UNITED STATES
Revenue, Major Customer [Line Items]
Premiums In Force	$ 694.6	$ 622.5	$ 571.4
Policies In force	126,409	121,356	111,350
Final audit premium	$ 45.6	$ 39.5	$ 42.3
Total in-force, including final audit premium	$ 740.2	$ 662.0	$ 613.7
Total in-force policies, includingfinal audit	126,409	121,356	111,350
Final audit policies in-force	0	0	0

Stockholders' Equity (Details) - USD ($)	5 Months Ended	24 Months Ended	204 Months Ended
Stockholders' Equity (Details) - USD ($)	Dec. 31, 2023	Jul. 30, 2023	Dec. 31, 2023	Jul. 26, 2023
Accelerated Share Repurchases [Line Items]
Accelerated share repurchases, final price paid per share	$ 38.68	$ 39.39	$ 21.54
Stock Repurchase Program, Authorized Amount				$ 50,000,000
Stock repurchased during period, shares	752,543	2,535,782	32,686,215
Stock Repurchased During Period, Value	$ 29,100,000	$ 99,900,000
Taxes Payable	$ 700,000		$ 700,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Statutory Matters

12 Months Ended

Dec. 31, 2023

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, EAC, and CIC), 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, Nevada, and New York were as follows:


	December 31,
	2023		2022
	(in millions)
Capital stock and unassigned surplus	$	739.7	$	696.7
Paid in capital	243.2		243.2


Total statutory surplus	$	982.9	$	939.9

Net income provided from the Company's insurance subsidiaries prepared in accordance with SAP was $96.2 million, $105.1 million, and $94.9 million, for the years ended December 31, 2023, 2022, and 2021, respectively.

Treatment of the LPT Agreement, deferred policy acquisition costs, fair value of financial instruments, and the surplus notes (see Notes 4, 10, and 11) are the primary differences in the SAP-basis capital stock and total surplus of the insurance subsidiaries of $982.9 million and $939.9 million, and the GAAP-basis equity of the Company of $1,013.9 million and $944.2 million as of December 31, 2023 and 2022, 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 and Regulatory Requirements and Restrictions

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, the California domiciled insurance company, ECIC, the Florida domiciled insurance companies, EPIC and EAC, to pay dividends to their immediate holding company, Employers Group, Inc. (EGI) and the New York domiciled insurance company, CIC, to pay dividends to its immediate holding company Cerity Group, Inc. (CGI), and in turn, the ability of EGI and CGI to pay dividends to EHI. The amount of dividends each of the Company's insurance 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 lesser 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, 2023, EICN had positive unassigned surplus of $247.5 million. During 2023, EICN paid an ordinary dividend in the amount of $9.8 million to its parent company, EGI. As a result of that payment, EICN cannot pay any dividends through March 27, 2024, and can pay $13.7 million of dividends thereafter, without regulatory approval.

Under Florida law, without regulatory approval, EPIC and EAC 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 2023, EAC paid an ordinary dividend in the amount of $21.0 million to its parent company, EGI. As a result of that payment, EAC cannot pay any dividends through July 14, 2024 and $22.4 million thereafter, without regulatory approval from the Florida Office of Insurance Regulation (FOIR), provided that no dividends are paid prior to July 14, 2024. During 2023, EPIC paid an ordinary dividend in the amount of $22.9 million to its parent company, EGI. As a result of that payment, EPIC cannot pay any dividends through July 14, 2024 and can pay $23.2 million of dividends thereafter, without regulatory approval from the FOIR.

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 statutes require EPIC and EAC to maintain a ratio of written premiums, defined as 1.25 times written premiums, 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, 2023, 2022, and 2021, EPIC and EAC were in compliance with these statutes.

ECIC is subject to regulation by the California Department of Insurance (California DOI). Additionally, the California Insurance Holding Company System Regulatory Act limits the ability of ECIC to pay dividends to its parent. California law provides that, absent prior approval of the California Insurance Commissioner, dividends may only be declared from earned surplus. For purpose of this statute, earned surplus excludes amounts derived from net appreciation in the value of assets not yet realized, or derived from an exchange of assets, unless the assets received are currently realizable in cash. In addition, California law provides that the appropriate insurance regulatory authorities in the state of California must approve (or, within a 30-day notice period, not disapprove) any dividend that, together with all other such dividends paid during the preceding 12 months, exceeds the greater of: (a) 10% of the paying company's statutory surplus as regards to policyholders at the preceding December 31; or (b) 100% of net income for the preceding year. During the years ended December 31, 2023, 2022, and 2021, ECIC was in compliance with these requirements.

During 2023, ECIC paid an ordinary dividend in the amount of $21.0 million to its parent company, EGI. As a result of that payment, ECIC cannot pay any dividends until March 15, 2024 and can pay $23.3 million thereafter without prior regulatory approval.

Under New York law, without regulatory approval, CIC may pay dividends if they do not exceed the lesser of 10% of surplus or 100% of net investment income for the previous year increased by the excess, if any, of net investment income over dividends declared or distributed during the period commencing 36 months prior to the declaration or distribution of the current dividend and ending 12 months prior thereto. The New York state law also provides that any distribution may only be paid out of earned surplus. During 2023, CIC paid an ordinary dividend in the amount of $4.0 million to its parent company, CSI. As a result of that payment, CIC cannot pay any dividends through September 20, 2024, and can pay $5.7 million of dividends thereafter, without regulatory approval.

Additionally, EICN, ECIC, EPIC, EAC, and CIC are required to comply with 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, 2023, 2022, and 2021, EICN, ECIC, EPIC, EAC, and CIC each had total adjusted capital above all regulatory action levels.

Consolidated Statements of Comprehensive Income Parentheticals - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Parentheticals [Abstract]
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax	$ (12.3)	$ 53.8	$ 13.6
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	$ (1.7)	$ (0.8)	$ 0.9

Liability for Unpaid Losses and Loss Adjustment Expenses Short Duration Insurance Contracts, Historcial Claims Duration (Details)	Dec. 31, 2023
Average annual percentage payout of incurred claims by age, net of reinsurance
Year one	19.20%
Year two	28.90%
Year three	17.50%
Year four	10.30%
Year five	5.70%
Year six	4.00%
Year seven	2.20%
Year eight	1.30%
Year nine	1.00%
Year ten	0.80%

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investments:
Fixed maturity securities at fair value (amortized cost $2,048.0 at December 31, 2023 and $2,366.7 at December 31, 2022, less CECL allowance of $2.7 at December 31, 2023 and $4.5 at December 31, 2022)	$ 1,936.3	$ 2,186.3
Equity securities at fair value (cost $125.9 at December 31, 2023 and $144.2 at December 31, 2022)	211.2	197.0
Equity securities at cost	6.0	6.7
Other invested assets (cost $82.5 at December 31, 2023 and $54.4 at December 31, 2022)	91.5	59.7
Short-term investments at fair value (amortized cost $33.1 at December 31, 2023 and $119.1 at December 31, 2022)	33.1	119.1
Total investments	2,278.1	2,568.8
Cash and cash equivalents	226.4	89.2
Restricted cash and cash equivalents	0.2	0.2
Accrued investment income	16.3	19.0
Premiums receivable (less CECL allowance of $17.9 at December 31, 2023 and $12.8 at December 31, 2022)	359.4	305.9
Reinsurance recoverable for:
Paid losses	6.3	6.8
Unpaid losses (less CECL allowance of $0.9 at December 31, 2023 and $0.9 at December 31, 2022)	427.5	444.5
Deferred policy acquisition costs	55.6	48.3
Deferred Income Tax Assets, Net	43.4	62.7
Property and equipment, net	6.5	12.0
Operating lease right-of-use assets	5.1	11.5
Intangible assets, net	13.6	13.6
Goodwill	36.2	36.2
Contingent commission receivable–LPT Agreement	14.2	13.9
Cloud computing arrangements	28.0	42.9
Other assets	33.6	41.2
Total assets	3,550.4	3,716.7
Liabilities and stockholders' equity
Unpaid losses and loss adjustment expenses	1,884.5	1,960.7
Unearned premiums	379.7	339.5
Commissions and premium taxes payable	66.0	58.2
Accounts payable and accrued expenses	26.1	28.7
Deferred reinsurance gain—LPT Agreement	99.2	106.1
FHLB advances	0.0	182.5
Non-cancellable obligations	17.0	26.1
Operating lease liability	5.9	13.6
Other liabilities	58.1	57.1
Total liabilities	2,536.5	2,772.5
Commitments and contingencies (Note 12)
Stockholders' equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 58,055,968 and 57,876,287 shares issued and 25,369,753 and 27,160,748 shares outstanding at December 31, 2023 and 2022, respectively	0.6	0.6
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued	0.0	0.0
Additional paid-in capital	419.8	414.6
Retained earnings	1,384.3	1,295.6
Accumulated other comprehensive loss, net of tax	(86.0)	(138.9)
Treasury stock, at cost (32,686,215 shares at December 31, 2023 and 30,715,539 shares at December 31, 2022)	(704.8)	(627.7)
Total stockholders' equity	1,013.9	944.2
Total liabilities and stockholders' equity	$ 3,550.4	$ 3,716.7

Reinsurance

12 Months Ended

Dec. 31, 2023

Reinsurance [Abstract]

Reinsurance

The Company purchases reinsurance from third parties in the normal course of its business in order to manage its exposures. The Company's reinsurance coverage is provided on both a quota share and excess of loss basis.

The effects of reinsurance on the Company's written and earned premiums and on its losses and LAE incurred were as follows:


	Years Ended December 31,
	2023				2022				2021
	Written		Earned		Written		Earned		Written		Earned
	(in millions)
Direct premiums	$	758.6	$	719.9	$	705.3	$	673.2	$	582.6	$	574.0
Assumed premiums	9.1		9.0		8.9		9.0		7.1		7.0
Gross premiums	767.7		728.9		714.2		682.2		589.7		581.0
Ceded premiums	(7.1)		(7.1)		(7.0)		(7.0)		(6.6)		(6.6)
Net premiums	$	760.6	$	721.8	$	707.2	$	675.2	$	583.1	$	574.4
Ceded losses and LAE incurred	$	17.0			$	3.5			$	16.8

Ceded losses and LAE incurred includes the amortization of the Deferred Gain, LPT Reserve Adjustments, and LPT Contingent Commission Adjustments.

Excess of Loss Reinsurance

The Company has consistently maintained excess of loss reinsurance coverage to protect it against the impact of large and/or catastrophic losses in its workers' compensation business. The Company currently maintains reinsurance for losses from a single occurrence or catastrophic event in excess of $10.0 million and up to $200.0 million, subject to certain exclusions. The current reinsurance program is effective July 1, 2023 through June 30, 2024, and is highly consistent with annual programs that ended on June 30, 2022 and 2021. The reinsurance coverage includes coverage for pandemics and, 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 $427.5 million and $444.5 million at December 31, 2023 and 2022, respectively. At each of December 31, 2023 and 2022, $291.7 million and $308.6 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. 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, 2023, the Company has paid losses and LAE claims totaling $877.6 million related to the LPT Agreement.

The Company amortized $6.9 million, $8.3 million, and $11.0 million of the Deferred Gain for the years ended December 31, 2023, 2022, and 2021, respectively. Additionally, for the years ended December 31, 2023 and 2021, the Company recognized $0.3 million and $0.5 million of favorable LPT Contingent Commission Adjustments, respectively (Note 2 –Reinsurance).

Earnings Per Share Earnings Per Share (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income	$ 118.1	$ 48.4	$ 119.3
Weighted average number of shares outstanding - basic	26,368,801	27,503,941	28,289,118
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	154,850	177,047	311,875
Weighted average number of shares outstanding - diluted	26,523,651	27,680,988	28,600,993
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	22,395	0	0
Stock Options [Member]
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	2,072	11,256	27,033
Performance shares units [Member]
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	110,342	131,465	237,999
Restricted stock units (RSUs)
Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	42,436	34,326	46,843

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/exampleRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Credit Losses

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

Allowance for Credit Losses

Current Expected Credit Losses

Premiums Receivable

Premiums receivable balances are all due within one year. The Company currently determines the allowance for premiums receivable based on an internal aging schedule using collectability and historical payment patterns, as well as current and expected future market conditions to determine the appropriateness of the allowance. Historical payment patterns and future market conditions provide the basis for the estimation along with similar risk characteristics and the Company's business strategy, which have not changed significantly over time. Changes in the allowance for CECL are recorded through underwriting and general and administrative expenses.

The table below shows the changes in the allowance for CECL on premiums receivable.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance of the allowance for CECL on premiums receivable	$	12.8	$	10.3
Current period provision for CECL	17.3		9.6
Write-offs charged against the allowance	(3.9)		(2.0)
Recoveries collected	(8.3)		(5.1)
Ending balance of the allowance for CECL on premiums receivable	$	17.9	$	12.8

Reinsurance Recoverable

In assessing an allowance for reinsurance assets, which includes reinsurance recoverables and contingent commission receivables, the Company considers historical information, financial strength of reinsurers, collateralization amounts, and ratings to determine the appropriateness of the allowance. Historically, the Company has not experienced a credit loss from reinsurance transactions. In assessing future default, the Company evaluated the CECL allowance under the ratings-based method using the A.M. Best's Average Cumulative Net Impairment Rates. Reinsurer ratings are also assessed through this process. Changes in the allowance for CECL are recorded through underwriting and general and administrative expenses.

The table below shows the changes in the allowance for CECL on reinsurance recoverables.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance of the allowance for CECL on reinsurance recoverables	$	0.9	$	0.6
Current period provision for CECL	—		0.3
Ending balance of the allowance for CECL on reinsurance recoverables	$	0.9	$	0.9

Investments

The Company assesses all AFS debt securities in an unrealized loss position for CECL. The Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria is met, the security's amortized cost basis is written down to its fair value. For AFS debt securities that do not meet either criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. Any impairment that has not been recorded through an allowance for credit losses is recognized in Accumulated other comprehensive loss on the Company's Consolidated Balance Sheets. Changes in the allowance for CECL are recorded through realized capital losses.

As of December 31, 2023, the Company established an aggregate allowance for CECL in the amount of $2.7 million. For the Company’s investments in fixed-income debt securities, the allowance for CECL was determined by: (i) observing the credit characteristics of those debt securities that may have demonstrated a credit loss as of that date and by comparing the present value of cash flows expected to be collected to its amortized cost basis; and (ii) observing the credit characteristics of those debt securities that are expected to demonstrate a credit loss in the future by comparing the present value of cash flows expected to be collected to its amortized cost basis. The expected present value of cash flows are calculated using scenario based credit loss

models derived from the discounted cash flows under the Comprehensive Capital Analysis Review framework, which is adopted by the Federal Reserve.

As of December 31, 2023, the Company did not intend to sell any of its AFS debt securities in which its amortized cost exceeded its fair value.

Accrued interest receivable on AFS debt securities totaled $16.3 million at December 31, 2023 and is excluded from the estimate of credit losses based on historically timely payments.

The table below shows the changes in the allowance for CECL on AFS securities.


	Years Ended December 31,
	2023		2022
	(in millions)
Beginning balance of the allowance for CECL on AFS securities	$	4.5	$	0.2
Current period provision for CECL	(0.1)		4.5
Reductions in allowance from disposals	(1.7)		—
Recoveries of amounts previously written off	—		(0.2)
Ending balance of the allowance for CECL on AFS securities	$	2.7	$	4.5

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor [Line Items]
Auditor Location	San Francisco, California
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42

Reinsurance Excess of Loss (Details) - Forecast [Member] $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($)
Effects of Reinsurance [Line Items]
Maximum reinsurance for losses from single occurence or event	$ 200.0
Reinsurance, Amount Retained, Per Policy	$ 10.0

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total investments at fair value	$ 2,180.6	$ 2,502.4
Total investments at fair value, estimated fair value	2,180.6	2,502.4
Cash and cash equivalents	226.4	89.2
Cash and cash equivalents, estimated fair value	226.4	89.2
Restricted cash and cash equivalents	$ 0.2	0.2
Fair value investments entities that calculate net asset value per share liquidating investment original expected lives increments	1 year
Unfunded commitment, private investment fund	$ 25.4	55.2
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	3 years
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	12 years
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash and cash equivalents	$ 0.2	$ 0.2

Investments Other Invested Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Invested Assets [Abstract]
Other Investments, Total	$ 91.5	$ 59.7
Investment Owned, at Cost	$ 82.5	$ 54.4

- Definition

Cost of the investment.

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+ Details

Commitments and Contingencies Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	4 years
Operating Lease, Expense	$ 1.6	$ 3.4
Finance Lease Expense	0.2	0.2
Lease, Cost	$ 1.8	3.6
Finance Lease, Weighted Average Remaining Lease Term	1 year 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	1.30%
Finance Lease, Weighted Average Discount Rate, Percent	7.40%
Operating lease right-of-use assets	$ 5.1	11.5
Operating lease liability	5.9	13.6
Property and equipment, gross	0.6	0.8
Accumulated depreciation, depletion and amortization, property and equipment	0.4	0.4
Property and equipment, net	0.2	0.4
Other liabilities	$ 0.2	$ 0.4
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	5 years
Lessee, Operating Lease, remaining lease term	5 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Finance Lease, Term of Contract	1 year
Lessee, Operating Lease, remaining lease term	1 year

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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 number of shares outstanding used in the earnings per common share calculations.


	Years Ended December 31,
	2023		2022		2021
	(in millions, except share data)
Net income	$	118.1	$	48.4	$	119.3
Weighted average number of shares outstanding–basic	26,368,801		27,503,941		28,289,118
Effect of dilutive securities:
Stock options	2,072		11,256		27,033
PSUs	110,342		131,465		237,999
RSUs	42,436		34,326		46,843
Dilutive potential shares	154,850		177,047		311,875
Weighted average number of shares outstanding–diluted	26,523,651		27,680,988		28,600,993

New Accounting Standards	12 Months Ended
New Accounting Standards	Dec. 31, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Standards	New Accounting Standards Recently Issued Accounting Standards In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this update improve disclosures about reportable segments and provide more detailed information about a reportable segment's expenses. The amendments in this update include disclosures on an annual and interim basis, significant segment expenses that are regularly provided to the CODM, an amount for other segment items by reportable segment and a description on their composition, all annual disclosures about a reportable segment's profit or loss and assets be required on an interim basis, identify the measures the CODM uses in assessing performance and allocating resources, and the title and position of the CODM. Additionally, a single reporting segment is subject to all disclosures in this amendment along with existing segment disclosures within Topic 280. This update is effective for fiscal years beginning after December 15, 2023 and early adoption is permitted. The Company will adopt this standard when it becomes effective. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements. The amendments in this update modify the disclosure or presentation requirements of a variety of topics within the Codification, including Statement of Cash Flows, Accounting Changes and Error Corrections, Earnings Per Share, Interim Reporting, Commitments, Debt, Equity, Derivatives and Hedging, Transfers and Servicing of Securities Borrowed or Repurchases, Oil and Gas activities, Investment Company activities and Real Estate Investment Trusts. Certain of the amendments represent clarifications to or technical corrections of the current requirements to allow users to more easily compare entities subject to existing SEC disclosures. For entities subject to the SEC's existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC's removal of related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption permitted. The Company will adopt any codification improvements as they become applicable and has determined that the impact of these improvements will not be material to its consolidated financial condition or results of operations. Recently Adopted Accounting Standards In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740). This update requires public business entities to annually disclose specific categories within the income tax rate reconciliation, and provide additional information for reconciling items that meet a certain quantitative threshold. Additionally, the amendments in this update require entities to disclose certain information about income taxes paid, income tax disaggregation, disclosures around unrecognized tax benefits, and the removal of disclosures related to temporary differences surrounding deferred tax liabilities to enhance the transparency and decision usefulness of income tax disclosures. This update is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted for financial statements that have not been issued. The Company elected to early adopted this update as of December 31, 2023 and determined that the impact of this standard was not material to its consolidated financial condition or results of operations. See Note 8 regarding the additional disclosures of this adoption that were applicable to the Company. In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-04, Reference Rate Reform (Topic 848). This update provided optional transition guidance to ease the potential accounting burden associated with transitioning away from the London Interbank Offered Rate (LIBOR), with optional expedients and exceptions related to the application of US GAAP to contracts, hedging relationships and other transactions affected by reference rate reform. Companies can elect to adopt this ASU through December 31, 2024. The Company determined that there was no impact of LIBOR transitioning on its existing contracts and investments. In October 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-10, Codification Improvements. This update ensures all disclosure guidance that requires or provides an option for an entity to provide notes to the financial statements is included in the Disclosure Section (Section 50) of the Codification. This update also provides various codification improvements in which the original guidance was unclear. This update became effective for annual periods beginning after December 15, 2020 and early adoption was permitted for any annual or interim period for which financial statements have not been issued. The Company determined that the impact of this standard was not material to its consolidated financial condition and results of operations. In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivable-Nonrefundable fees and other costs. The amendments in that Update shortened the amortization period for certain purchased callable debt securities held at a premium by requiring that entities amortize the premium associated with those callable debt securities within the scope of paragraph 310-20-25-33 to the earliest call date. The amendments affect the guidance in Accounting Standards Update No. 2017-08, receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. The amendments in this update became effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2020. Early adoption was not permitted. The Company determined that the impact of this standard was not material to its consolidated financial condition and results of operations. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740). This update simplifies the accounting for income taxes within Accounting Standards Codification (ASC) topic 740 by removing certain exceptions and clarifies existing guidance. This update became effective for annual periods beginning after December 15, 2020. The Company determined that the impact of this standard was not material to its consolidated financial condition and results of operations.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 70: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 72: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 73: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 74: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 45
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-6

Reference 75: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 76: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
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Reference 81: http://www.xbrl.org/2003/role/disclosureRef
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Reference 82: http://www.xbrl.org/2003/role/disclosureRef
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Reference 83: http://www.xbrl.org/2003/role/disclosureRef
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Reference 84: http://www.xbrl.org/2003/role/disclosureRef
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Reference 85: http://www.xbrl.org/2003/role/disclosureRef
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Reference 86: http://www.xbrl.org/2003/role/disclosureRef
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Reference 87: http://www.xbrl.org/2003/role/disclosureRef
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Reference 88: http://www.xbrl.org/2003/role/disclosureRef
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Reference 89: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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Reference 91: http://www.xbrl.org/2003/role/disclosureRef
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Reference 92: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net income	$ 118.1	$ 48.4	$ 119.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4.8	5.3	7.4
Stock-based compensation	6.2	5.1	9.1
Amortization of cloud computing arrangements	16.7	16.4	14.2
Net amortization on investments	2.4	3.0	8.5
Allowance for expected credit losses	5.1	2.8	(0.3)
Deferred income tax expense (benefit)	5.3	(17.4)	6.7
Net realized and unrealized (gains) losses on investments	(22.7)	51.8	(54.6)
Asset impairment and related charges	4.2	0.0	1.0
Noncash operating lease term adjustment	1.0	0.0	0.0
Change in operating assets and liabilities:
Premiums receivable	(58.6)	(63.7)	(12.1)
Reinsurance recoverable on paid and unpaid losses	17.5	32.2	20.2
Cloud computing arrangements	(3.4)	(15.4)	(7.9)
Operating lease right-of-use-assets	6.4	2.7	3.2
Current federal income taxes	(6.7)	8.8	(7.9)
Unpaid losses and loss adjustment expenses	(76.2)	(20.5)	(88.2)
Unearned premiums	40.2	34.8	5.6
Accounts payable, accrued expenses and other liabilities	3.7	7.2	(2.5)
Deferred reinsurance gain–LPT Agreement	(6.9)	(8.3)	(11.0)
Contingent commission receivable–LPT Agreement	(0.3)	0.0	(0.5)
Operating lease liabilities	(6.7)	(3.0)	(3.3)
Non-cancellable obligations	(9.1)	4.4	(2.4)
Other	10.4	5.2	6.3
Net cash provided by operating activities	49.4	99.8	10.8
Investing activities
Purchases of fixed maturity securities	(416.4)	(611.4)	(516.6)
Purchases of equity securities	(39.8)	(124.9)	(199.5)
Purchases of short-term investments	(68.7)	(132.7)	(12.5)
Purchases of other invested assets	(28.1)	(20.3)	(17.3)
Proceeds from sale of fixed maturity securities	558.0	313.8	206.7
Proceeds from sale of equity securities	53.2	216.3	135.9
Proceeds from maturities and redemptions of fixed maturity securities	162.7	195.0	373.5
Proceeds from maturities of short-term investments	157.0	24.0	28.3
Net change in unsettled investment purchases and sales	1.6	(3.3)	3.4
Capital expenditures and other	(2.2)	(2.6)	(3.6)
Net cash provided by (used in) investing activities	377.3	(146.1)	(1.7)
Financing activities
Acquisition of common stock	(76.1)	(30.4)	(42.6)
Cash transactions related to stock-based compensation	(1.0)	(1.2)	(2.7)
Dividends paid to stockholders and eligible plan award holders	(29.7)	(90.3)	(29.0)
Proceeds from FHLB advances	0.0	182.5	0.0
Repayments of Notes Payable	(182.5)	0.0	(20.0)
Proceeds from Lines of Credit	0.0	10.0	27.0
Repayments on line of credit advances	0.0	(10.0)	(27.0)
Payments on finance leases	(0.2)	(0.2)	(0.1)
Net cash used in financing activities	(289.5)	60.4	(94.4)
Net increase (decrease) in cash, cash equivalents, and restricted cash	137.2	14.1	(85.3)
Cash, cash equivalents, and restricted cash at the beginning of the period	89.4	75.3	160.6
Cash, cash equivalents, and restricted cash at the end of the period	226.6	89.4	75.3
Cash paid for federal income taxes	30.4	15.1	28.2
Cash paid for state income taxes	1.5	0.7	1.2
Cash paid for interest	5.8	2.6	0.3
Non-cash transactions
Financed property and equipment purchases	0.0	0.1	0.3
Conversion of Stock, Amount Converted	0.0	0.0	20.0
Cash, cash equivalents, and restricted cash
Cash and cash equivalents	226.4	89.2
Restricted cash and cash equivalents	0.2	0.2
Total cash, cash equivalents, and restricted cash	$ 226.6	$ 89.4	$ 75.3

Letters of Credit (Details) - USD ($) $ in Millions	12 Months Ended
Letters of Credit (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Letters of Credit [Line Items]
Letter of credit, unused capacity, commitment fee percentage	15.00%
Investments	$ 2,278.1	$ 2,568.8
Federal Home Loan Bank [Member]
Letters of Credit [Line Items]
Letter of credit, expiration date	Mar. 31, 2024
Letter of credit, unused capacity, commitment fee percentage	15.00%
Letter of credit, maximum borrowing capacity	$ 70.0
Letter of credit collateral amount	286.4	$ 321.2
Federal Home Loan Bank [Member] \| EAC
Letters of Credit [Line Items]
Letter of credit, maximum borrowing capacity	25.0
Federal Home Loan Bank [Member] \| ECIC
Letters of Credit [Line Items]
Letter of credit, maximum borrowing capacity	35.0
Federal Home Loan Bank [Member] \| EPIC
Letters of Credit [Line Items]
Letter of credit, maximum borrowing capacity	$ 10.0

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies [Abstract]

Commitments and Contingencies Disclosure

Commitments and Contingencies

Leases

At December 31, 2023, the Company's operating leases have remaining terms of 1 year to 5 years, with options to extend up to 5 years with no termination provision. The Company's finance leases have an option to terminate after 1 year.

As a result of the effectiveness of our work-from-home transition, in 2021 we reduced our real estate footprint by closing and vacating certain of our offices. Whereas we believe that our existing office space is adequate for our current needs, we will continue to evaluate our office needs and may further reduce our real estate footprint in the future.

Components of lease expense were as follows:


	Years Ended December 31,
	2023		2022
	(in millions)
Operating lease expense	$	1.6	$	3.4
Finance lease expense	0.2		0.2
Total lease expense	$	1.8	$	3.6

As of December 31, 2023, the weighted average remaining lease term for operating leases was 4.0 years and for finance leases was 1.9 years. The weighted average discount rate was 1.3% and 7.4% for operating and finance leases, respectively.

Maturities of lease liabilities were as follows:


Year	Operating Leases		Finance Leases
	(in millions)
2024	$	1.7	$	0.1
2025	1.5		0.1
2026	1.2		—
2027	1.2		—
2028	0.4		—
Thereafter	—		—
Total lease payments	6.0		0.2
Less: imputed interest	(0.1)		—
Total	$	5.9	$	0.2

Supplemental balance sheet information related to leases was as follows:


	As of December 31,
	2023		2022
	(in millions)
Operating leases:
Operating lease right-of-use asset	$	5.1	11.5
Operating lease liability	5.9		13.6
Finance leases:
Property and equipment, gross	0.6		0.8
Accumulated depreciation	(0.4)		(0.4)
Property and equipment, net	0.2		0.4
Other liabilities	$	0.2	$	0.4

Supplemental cash flow information related to leases was as follows:


	Years Ended December 31,
	2023		2022
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	1.6	$	3.4
Financing cash flows used for finance leases	0.2		0.2

Lease Exit and Disposal Costs

During the year ended December 31, 2023, the Company recorded a non-recurring charge in connection with the early termination of the lease associated with the Company's former corporate headquarters in Reno, Nevada. This charge included a one-time lease termination payment of $7.6 million, a write-off related to remaining leasehold improvements and furniture and equipment of $2.6 million, and estimated miscellaneous expenses associated with exiting the property of $0.2 million. The Company also recognized a lease termination gain pertaining to the elimination of the lease liability net of the right-of-use asset of $1.0 million, which amount is included in Other expenses on the Company’s Consolidated Statements of Comprehensive Income (Loss). The decision to terminate this operating lease was undertaken as part of an ongoing review of the Company's current and future facility needs.

Contingencies Surrounding Insurance Assessments

Each of the states where the Company's insurance subsidiaries are licensed to transact business require property and casualty insurers that write 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, depending on the relevant laws and regulations of a particular state. The Company defers such costs to the extent they are associated with unearned premium and recognizes them as an expense as such premiums are earned. The Company had an accrued liability for guaranty fund assessments, second injury funds assessments, and other insurance assessments totaling $13.0 million and $11.1 million as of December 31, 2023 and 2022, respectively. These liabilities are generally expected to be paid over periods from less than one year to, in some instances, the duration of the outstanding claims, based on individual state's laws and regulations. The Company also recorded an asset of $12.5 million and $15.6 million, as of December 31, 2023 and 2022, respectively, for remitted, estimated policy charges anticipated to be recouped from policyholders. This asset also includes state assessments that

may be recovered through a reduction in future premium taxes. These assets are expected to be realized over one to ten year periods in accordance with their type and each individual state's laws and regulations.

Unfunded Investment Commitments

As of December 31, 2023 and 2022, the Company had unfunded commitments to invest $25.4 million and $55.2 million, respectively, into private equity limited partnerships. See Note 4.

Statutory Matters (Tables)

12 Months Ended

Dec. 31, 2023

Stautory Matters [Abstract]

Statutory accounting practices disclosure table


	December 31,
	2023		2022
	(in millions)
Capital stock and unassigned surplus	$	739.7	$	696.7
Paid in capital	243.2		243.2


Total statutory surplus	$	982.9	$	939.9

- 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

Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]


	Insurance Operations		Total
	(in millions)
Year Ended December 31, 2023
Gross premiums written	$	767.7	$	767.7
Net premiums written	760.6		760.6

Net premiums earned	721.9		721.9
Net investment income	106.5		106.5
Net realized and unrealized gains on investments	22.7		22.7

Other (loss) income	(0.2)		(0.2)
Total revenues	850.9		850.9

Losses and loss adjustment expenses	405.7		405.7
Commission expense	100.0		100.0
Underwriting and general and administrative expenses	180.0		180.0
Interest and financing expenses	5.8		5.8
Other expenses	11.0		11.0
Total expenses	702.5		702.5

Net income before income taxes	148.4		148.4
Income tax expense	30.3		30.3
Net income	$	118.1	$	118.1


	Insurance Operations		Total
	(in millions)
Year Ended December 31, 2022
Gross premiums written	$	714.2	$	714.2
Net premiums written	707.2		707.2

Net premiums earned	675.2		675.2
Net investment income	89.8		89.8
Net realized and unrealized (losses) on investments	(51.8)		(51.8)

Other income	0.3		0.3
Total revenues	713.5		713.5

Losses and loss adjustment expenses	391.0		391.0
Commission expense	95.9		95.9
Underwriting and general and administrative expenses	167.3		167.3
Interest and financing expenses	3.5		3.5

Total expenses	657.7		657.7

Net income before income taxes	55.8		55.8
Income tax expense	7.4		7.4
Net income	$	48.4	$	48.4


	Insurance Operations		Total
	(in millions)
Year Ended December 31, 2021
Gross premiums written	$	589.7	$	589.7
Net premiums written	583.1		583.1

Net premiums earned	574.4		574.4
Net investment income	72.7		72.7
Net realized and unrealized gains on investments	54.6		54.6

Other income	1.4		1.4
Total revenues	703.1		703.1

Losses and loss adjustment expenses	315.2		315.2
Commission expense	76.1		76.1
Other underwriting expenses	160.2		160.2
Interest and financing expenses	0.5		0.5
Other expenses	4.1		4.1
Total expenses	556.1		556.1

Net income before income taxes	147.0		147.0
Income tax expense	27.7		27.7
Net income	$	119.3	$	119.3

Revenue from External Customers by Geographic Areas [Table Text Block]


	2023			2022			2021
State	In-force Premiums		Policies In-force	In-force Premiums		Policies In-force	In-force Premiums		Policies In-force
	(dollars in millions)
California	$	311.5	43,353	$	279.7	42,876	$	258.4	40,704
Florida	56.6		10,008	49.4		9,417	41.1		7,989
New York	31.9		7,603	27.3		7,497	24.5		7,307


Other (43 states and D.C.)	294.6		65,445	266.1		61,566	247.4		55,350
Total	$	694.6	126,409	$	622.5	121,356	$	571.4	111,350
Estimated audit premium	45.6		—	39.5		—	42.3		—
Total, including estimated audit premium	$	740.2	126,409	$	662.0	121,356	$	613.7	111,350

Reinsurance LPT Agreement (Details) - USD ($) $ in Millions	12 Months Ended
Reinsurance LPT Agreement (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reinsurance Agreement [Line Items]
Unpaid losses	$ 427.5	$ 444.5
Recoverables was related to the LPT agreement	$ 291.7	308.6
Reinsurance quota share, percentage	100.00%
Ceded premiums written	$ 7.1	7.0	$ 6.6
Coverage provided under LPT agreement	2,000.0
Paid losses and LAE claims related to LPT	877.6
Amortization of deferred gain	6.9	8.3	11.0
Unpaid losses and loss adjustment expenses	1,884.5	$ 1,960.7	1,981.2	$ 2,069.4
LPT Agreement [Member]
Reinsurance Agreement [Line Items]
Liabilities for the incurred but unpaid losses and LAE related to claims prior to July 1, 1995	1,500.0
Ceded premiums written	775.0
Change to Contingent Profit Commission [Member]
Reinsurance Agreement [Line Items]
Amortization of deferred gain	$ 0.3		$ 0.5

Schedule II. Condensed Financial Information of Registrant (Condensed Balance Sheets) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments
Fixed maturity securities at fair value (amortized cost $1.3 at December 31, 2023 and $7.9 at December 31, 2022)	$ 1,936.3	$ 2,186.3
Short-term investments at fair value (amortized cost $37.5 at December 31, 2022)	33.1	119.1
Investments	2,278.1	2,568.8
Cash and cash equivalents	226.4	89.2
Accrued investment income	16.3	19.0
Deferred Income Tax Assets, Net	43.4	62.7
Other assets	33.6	41.2
Total assets	3,550.4	3,716.7
Liabilities and stockholders' equity
Accounts payable and accrued expenses	26.1	28.7
Other liabilities	58.1	57.1
Total liabilities	2,536.5	2,772.5
Stockholders' equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 58,055,968 and 57,876,287 shares issued and 25,369,753 and 27,160,748 shares outstanding at December 31, 2023 and 2022, respectively	0.6	0.6
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued	0.0	0.0
Additional paid-in capital	419.8	414.6
Retained earnings	1,384.3	1,295.6
Accumulated other comprehensive loss, net of tax	(86.0)	(138.9)
Treasury stock, at cost (32,686,215 shares at December 31, 2023 and 30,715,539 shares at December 31, 2022)	(704.8)	(627.7)
Total stockholders’ equity	1,013.9	944.2
Total liabilities and stockholders’ equity	3,550.4	3,716.7
Parent Company [Member]
Investments
Investment in subsidiaries	972.4	856.3
Fixed maturity securities at fair value (amortized cost $1.3 at December 31, 2023 and $7.9 at December 31, 2022)	1.3	7.9
Equity securities at fair value (cost $26.2 at December 31, 2023 and $37.5 at December 31, 2022)	24.2	33.0
Short-term investments at fair value (amortized cost $37.5 at December 31, 2022)	0.0	20.7
Investments	997.9	917.9
Cash and cash equivalents	20.3	37.3	$ 4.8	$ 11.0
Accrued investment income	0.1	0.4
Accounts Receivable, after Allowance for Credit Loss, Current	0.4	0.1
Deferred Income Tax Assets, Net	1.9	2.9
Other assets	0.3	0.7
Total assets	1,020.9	959.3
Liabilities and stockholders' equity
Accounts payable and accrued expenses	6.5	6.2
Intercompany payable	0.0	0.6
Other liabilities	0.5	8.3
Total liabilities	7.0	15.1
Stockholders' equity:
Common stock, $0.01 par value; 150,000,000 shares authorized; 58,055,968 and 57,876,287 shares issued and 25,369,753 and 27,160,748 shares outstanding at December 31, 2023 and 2022, respectively	0.6	0.6
Additional paid-in capital	419.8	414.6
Retained earnings	1,384.3	1,295.6
Accumulated other comprehensive loss, net of tax	(86.0)	(138.9)
Treasury stock, at cost (32,686,215 shares at December 31, 2023 and 30,715,539 shares at December 31, 2022)	(704.8)	(627.7)
Total stockholders’ equity	1,013.9	944.2
Total liabilities and stockholders’ equity	$ 1,020.9	$ 959.3

Consolidated Statements of Stockholders Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income, Net	Treasury Stock, Common
Stockholders' equity, shares at Dec. 31, 2020		57,413,806
Stockholders' equity, value at Dec. 31, 2020	$ 1,212.8	$ 0.6	$ 404.3	$ 1,247.9	$ 115.1	$ (555.1)
Stock-based obligations (Note 14), shares		0
Stock-based obligations (Note 14), value	9.1	$ 0.0	9.1	0.0	0.0	0.0
Stock-options exercised, shares		48,051
Stock options exercised, value	1.1	$ 0.0	1.1	0.0	0.0	0.0
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 14), shares		228,397
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 14), value	(3.8)	$ 0.0	(3.8)	0.0	0.0	0.0
Acquisition of treasury stock (Note 13), shares		0
Acquisition of treasury stock (Note 13), value	(42.2)	$ 0.0	0.0	0.0	0.0	(42.2)
Dividend to common stockholders, shares		0
Dividend to common stockholders, value	(28.7)	$ 0.0	0.0	(28.7)	0.0	0.0
Net income for the period	119.3	0.0	0.0	119.3	0.0	0.0
Other comprehensive income (loss), net of tax	(54.5)	$ 0.0	0.0	0.0	(54.5)	0.0
Stockholders' equity, shares at Dec. 31, 2021		57,690,254
Stockholders' equity, value at Dec. 31, 2021	1,213.1	$ 0.6	410.7	1,338.5	60.6	(597.3)
Stock-based obligations (Note 14), shares		0
Stock-based obligations (Note 14), value	5.1	$ 0.0	5.1	0.0	0.0	0.0
Stock-options exercised, shares		41,665
Stock options exercised, value	1.1	$ 0.0	1.1	0.0	0.0	0.0
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 14), shares		144,368
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 14), value	(2.3)	$ 0.0	(2.3)	0.0	0.0	0.0
Acquisition of treasury stock (Note 13), shares		0
Acquisition of treasury stock (Note 13), value	(30.4)	$ 0.0	0.0	0.0	0.0	(30.4)
Dividend to common stockholders, shares		0
Dividend to common stockholders, value	(91.3)	$ 0.0	0.0	(91.3)	0.0	0.0
Net income for the period	48.4	0.0	0.0	48.4	0.0	0.0
Other comprehensive income (loss), net of tax	$ (199.5)	$ 0.0	0.0	0.0	(199.5)	0.0
Stockholders' equity, shares at Dec. 31, 2022	57,876,287	57,876,287
Stockholders' equity, value at Dec. 31, 2022	$ 944.2	$ 0.6	414.6	1,295.6	(138.9)	(627.7)
Stock-based obligations (Note 14), shares		0
Stock-based obligations (Note 14), value	6.1	$ 0.0	6.1	0.0	0.0	0.0
Stock-options exercised, shares		23,500
Stock options exercised, value	0.7	$ 0.0	0.7	0.0	0.0	0.0
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 14), shares		156,181
Vesting of restricted stock units, net of shares withheld to satisfy minimum tax withholding (Note 14), value	(1.6)	$ 0.0	(1.6)	0.0	0.0	0.0
Acquisition of treasury stock (Note 13), shares		0
Acquisition of treasury stock (Note 13), value	(77.1)	$ 0.0	0.0	0.0	0.0	(77.1)
Dividend to common stockholders, shares		0
Dividend to common stockholders, value	(29.4)	$ 0.0	0.0	(29.4)	0.0	0.0
Net income for the period	118.1	0.0	0.0	118.1	0.0	0.0
Other comprehensive income (loss), net of tax	$ 52.9	$ 0.0	0.0	0.0	52.9	0.0
Stockholders' equity, shares at Dec. 31, 2023	58,055,968	58,055,968
Stockholders' equity, value at Dec. 31, 2023	$ 1,013.9	$ 0.6	$ 419.8	$ 1,384.3	$ (86.0)	$ (704.8)

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 118.1	$ 48.4	$ 119.3

- Definition

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

+ References

+ Details

Investments Investments, held in Trust or on Deposit (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deposit Assets [Abstract]
Investments	$ 2,278.1	$ 2,568.8
Assets Held-in-trust [Abstract]
Funds held by or deposited with reinsurers	3.0	2.7
Required by various state laws and regulations to hold securities or letters of credit in depository account [Member]
Deposit Assets [Abstract]
Investments	$ 748.1	$ 745.9

Investments, Continuous Loss Position (Details) $ in Millions	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 129.9	$ 1,644.0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,291.6	323.6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1.6)	(122.5)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (122.3)	$ (57.3)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	133	908
Debt Securities, number of issues in loss position, 12 months or longer \| shares	733	303
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 2.7	$ 4.5	$ 0.2
US Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	11.9	76.8
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	23.7	11.2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(0.1)	(3.5)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (2.4)	$ (0.9)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	5	13
Debt Securities, number of issues in loss position, 12 months or longer \| shares	7	4
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0
US Government Agencies Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	0.0	2.1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	2.2	0.0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0.0	(0.1)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (0.1)	$ 0.0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	0	1
Debt Securities, number of issues in loss position, 12 months or longer \| shares	1	0
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	39.5	193.4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	73.5	5.4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(0.3)	(9.0)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (4.9)	$ (0.9)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	15	68
Debt Securities, number of issues in loss position, 12 months or longer \| shares	32	3
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	26.1	763.3
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	684.5	84.6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(0.8)	(76.4)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (62.4)	$ (18.1)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	13	335
Debt Securities, number of issues in loss position, 12 months or longer \| shares	331	84
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 2.1	$ 2.8
Residential Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	15.8	236.8
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	306.6	106.6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(0.2)	(17.9)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (37.8)	$ (25.7)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	15	186
Debt Securities, number of issues in loss position, 12 months or longer \| shares	228	65
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0
Commercial Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	0.0	52.5
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	53.0	2.6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0.0	(5.7)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (6.4)	$ (0.7)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	0	22
Debt Securities, number of issues in loss position, 12 months or longer \| shares	24	3
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0
Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	24.0	27.6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	47.0	27.7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(0.1)	(2.6)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (4.7)	$ (5.4)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	15	22
Debt Securities, number of issues in loss position, 12 months or longer \| shares	29	11
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0
Collateralized Loan Obligations
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	0.0	209.9
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	80.5	36.9
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0.0	(5.5)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (0.7)	$ (1.7)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	0	37
Debt Securities, number of issues in loss position, 12 months or longer \| shares	21	11
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0
Other Debt Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	12.6	81.6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	10.2	38.4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(0.1)	(1.8)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (0.6)	$ (1.1)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, less than 12 months \| shares	70	224
Debt Securities, number of issues in loss position, 12 months or longer \| shares	58	119
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.6	$ 1.7
Sovereign Debt Securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	10.4	10.2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (2.3)	$ (2.8)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract]
Debt Securities, number of issues in loss position, 12 months or longer \| shares	2	3
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0.0	$ 0.0

Financing Arrangements	12 Months Ended
Financing Arrangements	Dec. 31, 2023
Notes Payable [Abstract]
Notes Payable	inancing Arrangements Credit Agreement On December 15, 2020, EHI entered into a Credit Agreement (the Credit Agreement) with a syndicate of financial institutions. The Credit Agreement provided for a $75.0 million three-year revolving credit facility and was guaranteed by EHI’s wholly owned subsidiaries, Employers Group, Inc. and Cerity Group, Inc. Borrowings under the Credit Agreement could be used for working capital and general corporate purposes of EHI and its subsidiaries. Pursuant to the Credit Agreement, EHI also had an option to request an increase of the credit available under the facility up to a maximum facility amount of $125.0 million, subject to the consent of lenders and the satisfaction of certain conditions. On February 16, 2023, the Credit Agreement was amended (the Amended Credit Agreement) to: (i) formally replace the Eurodollar interest rate option with an Adjusted Term Secured Overnight Financing Rate (SOFR) option; (ii) amend the definition of "net worth", as referred to within the Amended Credit Agreement and (iii) amend the minimum consolidated net worth covenant for fiscal quarters ending after September 30, 2022. The interest rates applicable to loans made under the Credit Agreement were generally based on, at EHI's option, a base rate plus a specified margin, ranging from 0.25% to 1.25%, or the Adjusted Term SOFR rate plus a specified margin, ranging from 1.25% to 2.25%. In addition, EHI paid a fee on each lender’s unused commitment, ranging from 0.20% to 0.50%. The applicable margin and the amount of such commitment fee varied based upon the financial strength rating of the EHI’s insurance subsidiaries as most recently announced by A.M. Best or EHI’s debt to total capitalization ratio if such financial strength rating was not available. Interest paid and/or fees incurred pursuant to the Amended Credit Agreement or Credit Agreement, as applicable, during the year ended December 31, 2023 was $0.5 million and during each of the years ended December 31, 2022 and 2021 was $0.3 million. EHI incurred $0.7 million in debt issuance costs in connection with the Credit Agreement, which were being amortized over the three-year life of the facility in Interest and Financing expenses. The annual commitment and administrative fee on the unused portion of the facility was 0.30%, for a maximum of $225,000, and an annual agency fee of $25,000. Advances could be repaid at any time without prepayment penalties or additional fees. The Amended Credit Agreement contained covenants that required EHI and its consolidated subsidiaries to maintain: (i) a minimum consolidated net worth of no less than $900.0 million and (ii) a debt to total capitalization ratio of no more than 35%, in each case as determined in accordance with the Amended Credit Agreement. EHI remained in compliance with all of the covenants associated with the Credit Agreement from its inception to its expiration on December 15, 2023. The Company borrowed and subsequently repaid $10.0 million under the credit facility during the year ended December 31, 2022 and had no borrowings during the year ended December 31, 2023. FHLB Advances All of the Company's insurance subsidiaries are members of the FHLB. Membership allows the insurance subsidiaries access to collateralized advances, which may be used to support and enhance liquidity management. The amount of advances that may be taken is dependent on statutory admitted assets on a per company basis. During 2022, the Company's insurance subsidiaries, with the exception of CIC, had received aggregate advances of $182.5 million under the FHLB Standard Credit Program. These advances could be repaid at any time without penalty and were collateralized by eligible investment securities. The proceeds from these advances were used to purchase an equivalent amount of high-quality collateralized loan obligation securities. The Company's weighted average annual interest rate on these advances was 5.11% for 2023. Interest incurred and paid during the year ended December 31, 2023 each totaled $5.3 million, and in 2022 totaled $3.0 million and $2.3 million, respectively. In 2023, the Company's insurance subsidiaries repaid all of its advances under the FHLB Standard Credit Program. In 2020, the FHLB launched its Recovery Advance Program. The Recovery Advance Program is a zero percent interest, six-month or one-year credit product that members could use to provide immediate relief to property owners, businesses, and other customers from the COVID-19 pandemic. Each FHLB member was allocated up to $10.0 million in advances under the Recovery Advance Program. On May 11, 2020, the Company's insurance subsidiaries, with the exception of CIC, received a total of $35.0 million of advances from the FHLB under the Recovery Advance Program. The advances were secured by collateral previously pledged to the FHLB by the Company's insurance subsidiaries in support of their existing collateralized advance facility, which was reduced by the amount of these outstanding advances. The Company repaid $15.0 million of such advances on November 4, 2020, $5.0 million on March 31, 2021, and the remaining $15.0 million on May 4, 2021. FHLB membership also allows the Company's insurance subsidiaries access to standby letters of credit (Letter of Credit Agreements). On March 9, 2018, ECIC, EPIC, and EAC entered into standby Letter of Credit Agreements with the FHLB. On January 26, 2021, EPIC chose to amend its existing Letter of Credit Agreement to decrease its credit amount to $10.0 million. On August 13, 2021, EAC and ECIC chose to amend their existing Letter of Credit Agreements to decrease their respective credit amounts to $25.0 million and $35.0 million. The amended Letter of Credit Agreements currently in effect expire on March 31, 2024, and will remain evergreen with automatic one-year extensions unless the FHLB notifies the beneficiary at least 60 days prior to the then applicable expiration date of its election not to renew. The Letter of Credit Agreements may only be used to satisfy, in whole or in part, insurance deposit requirements with the State of California and are fully secured with eligible collateral at all times. The Letter of Credit Agreements are subject to annual maintenance charges and a fee of 15 basis points on issued amounts. As of December 31, 2023 and 2022 letters of credit totaling $70.0 million were issued in lieu of securities on deposit with the State of California under these Letter of Credit Agreements. As of December 31, 2023 and 2022, investment securities having a fair value of $286.4 million and $321.2 million, respectively, were pledged to the FHLB by the Company's insurance subsidiaries in support of the collateralized advance facility and the Letter of Credit Agreements.

- 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

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

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

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

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

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

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

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

+ Details

Investments, Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less, amortized cost	$ 8.4
Due after one year through five years, amortized cost	642.7
Due after five years through ten years, amortized cost	615.2
Due after ten years, amortized cost	88.2
Mortgage and asset-backed securities, amortized cost	693.5
Debt securities, available-for-sale, amortized cost	2,048.0	$ 2,366.7
Estimated Fair Value
Due in one year or less, fair value	8.2
Due after one year through five years, fair value	623.7
Due after five years through ten years, fair value	576.6
Due after ten years, fair value	82.3
Mortgage and asset-backed securities, fair value	645.5
Fixed maturity securities, fair value	$ 1,936.3	$ 2,186.3

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property and Equipment [Abstract]

Property, plant and equipment table

Property and equipment consists of the following:


	As of December 31,
	2023		2022
	(in millions)

Furniture and equipment	$	1.8	$	3.3
Leasehold improvements	0.5		5.0
Computers and software	45.7		47.6
Automobiles	0.6		0.8
Property and equipment, gross	48.6		56.7
Accumulated depreciation	(42.1)		(44.7)
Property and equipment, net	$	6.5	$	12.0

Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
Credit Losses (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Credit Loss [Abstract]
Premium Receivable, Allowance for Credit Loss	$ 17.9	$ 12.8	$ 10.3
Premium Receivable, Allowance for Credit Loss, Period Increase (Decrease)	17.3	9.6
Premium Receivable, Allowance for Credit Loss, Writeoff	(3.9)	(2.0)
Premium Receivable, Allowance for Credit Loss, Recovery	(8.3)	(5.1)
Reinsurance Recoverable, Allowance for Credit Loss	0.9	0.9	0.6
Reinsurance Recoverable, Allowance for Credit Loss, Period Increase (Decrease)	0.0	0.3
Debt Securities, Available-for-sale, Allowance for Credit Loss	2.7	4.5	$ 0.2
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	(0.1)	4.5
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold	(1.7)	0.0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery	0.0	(0.2)
Accrued investment income	$ 16.3	$ 19.0

Liability for Unpaid Losses and Loss Adjustment Expenses Historical Incurred Losses and LAE (Details)
$ in Millions

12 Months Ended

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

^[1]

Dec. 31, 2019

USD ($)

^[1]

Dec. 31, 2018

USD ($)

^[1]

Dec. 31, 2017

USD ($)

^[1]

Dec. 31, 2016

USD ($)

^[1]

Dec. 31, 2015

USD ($)

^[1]

Dec. 31, 2014

USD ($)

^[1]

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

$ 3,822.7

Cumulative paid losses and LAE, net of reinsurance

2,777.9

Liabilities for unpaid losses and LAE, net of reinsurance

1,389.2

Prior years

(44.9)

$ (33.5)

$ (39.8)

Involuntary assigned risk business

Claims Development [Line Items]

Prior years

(0.3)

(1.4)

(1.8)

Accident years prior to 2014

Claims Development [Line Items]

Cumulative paid losses and LAE, net of reinsurance

344.4

Accident Year 2014

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

395.9

402.1

^[1]

406.0

^[1]

$ 415.5

$ 424.7

$ 430.5

$ 434.6

$ 432.9

$ 445.8

$ 463.4

IBNR

$ 20.1

Cumulative number of reported claims

28,602

Cumulative paid losses and LAE, net of reinsurance

$ 364.7

361.6

^[1]

357.7

^[1]

351.4

342.1

323.4

297.2

248.9

172.7

$ 65.3

Accident Year 2015

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

374.9

381.9

^[1]

384.9

^[1]

396.7

408.7

419.6

423.9

425.8

422.2

IBNR

$ 20.2

Cumulative number of reported claims

27,282

Cumulative paid losses and LAE, net of reinsurance

$ 337.6

333.7

^[1]

329.3

^[1]

322.2

311.2

290.5

246.9

174.5

$ 65.5

Accident year 2016

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

347.1

350.4

^[1]

354.8

^[1]

364.6

375.0

395.4

414.6

419.0

IBNR

$ 26.6

Cumulative number of reported claims

25,827

Cumulative paid losses and LAE, net of reinsurance

$ 302.3

298.1

^[1]

290.0

^[1]

278.3

261.2

227.7

166.8

$ 65.6

Accident year 2017

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

322.5

326.9

^[1]

329.8

^[1]

337.9

358.3

391.3

412.4

IBNR

$ 25.1

Cumulative number of reported claims

25,126

Cumulative paid losses and LAE, net of reinsurance

$ 277.1

269.5

^[1]

260.0

^[1]

243.7

215.7

160.2

$ 63.5

Accident Year 2018

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

400.5

^[1]

400.6

^[1]

407.7

424.6

422.5

IBNR

$ 26.2

Cumulative number of reported claims

28,020

Cumulative paid losses and LAE, net of reinsurance

$ 340.1

315.2

^[1]

293.6

^[1]

254.2

189.9

$ 77.9

Accident Year 2019

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

443.9

448.8

^[1]

448.5

^[1]

435.7

422.4

IBNR

$ 42.7

Cumulative number of reported claims

33,034

Cumulative paid losses and LAE, net of reinsurance

$ 354.4

325.8

^[1]

285.2

^[1]

212.6

$ 88.8

Prior years

10.0

Accident Year 2020

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

366.9

373.3

^[1]

374.0

^[1]

365.7

IBNR

$ 41.9

Cumulative number of reported claims

24,274

Cumulative paid losses and LAE, net of reinsurance

$ 274.3

233.5

^[1]

175.6

^[1]

$ 71.9

Prior years

8.0

Accident Year 2021

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

348.9

339.0

^[1]

339.2

^[1]

IBNR

$ 44.0

Cumulative number of reported claims

22,879

Cumulative paid losses and LAE, net of reinsurance

$ 231.2

166.8

^[1]

$ 66.1

^[1]

Accident Year 2022

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

400.7

399.3

^[1]

IBNR

$ 95.2

Cumulative number of reported claims

23,101

Cumulative paid losses and LAE, net of reinsurance

$ 203.7

$ 76.5

^[1]

Accident Year 2023

Claims Development [Line Items]

Incurred losses and LAE, net of reinsurance

421.4

IBNR

$ 190.5

Cumulative number of reported claims

20,088

Cumulative paid losses and LAE, net of reinsurance

$ 92.5

[1]	Data presented for these calendar years is required supplementary information, which is unaudite

Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments [Abstract]

Debt Securities, Available-for-sale

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


	Amortized Cost		Allowance for CECL		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
At December 31, 2023	(in millions)
Fixed maturity securities
U.S. Treasuries	$	60.3	$	—	$	0.6	$	(2.5)	$	58.4
U.S. Agencies	2.2		—		—		(0.1)		2.1
States and municipalities	212.3		—		3.1		(5.2)		210.2
Corporate securities	952.8		(2.1)		8.3		(63.2)		895.8
Residential mortgage-backed securities	399.3		—		0.9		(38.0)		362.2
Commercial mortgage-backed securities	70.2		—		—		(6.4)		63.8
Asset-backed securities	131.8		—		1.0		(4.8)		128.0
Collateralized loan obligations	92.2		—		—		(0.7)		91.5
Foreign government securities	12.7		—		—		(2.3)		10.4
Other securities(1)	114.2		(0.6)		1.0		(0.7)		113.9
Total fixed maturity securities	2,048.0		(2.7)		14.9		(123.9)		1,936.3
Short-term investments	33.1		—		—		—		33.1
Total AFS investments	$	2,081.1	$	(2.7)	$	14.9	$	(123.9)	$	1,969.4

At December 31, 2022
Fixed maturity securities
U.S. Treasuries	$	95.1	$	—	$	0.1	$	(4.4)	$	90.8
U.S. Agencies	2.2		—		—		(0.1)		2.1
States and municipalities	326.7		—		0.8		(9.9)		317.6
Corporate securities	963.4		(2.8)		2.0		(94.5)		868.1
Residential mortgage-backed securities	403.5		—		0.3		(43.6)		360.2
Commercial mortgage-backed securities	61.5		—		—		(6.4)		55.1
Asset-backed securities	74.0		—		0.1		(8.0)		66.1
Collateralized loan obligations	268.1		—		—		(7.2)		260.9
Foreign government securities	13.0		—		—		(2.8)		10.2
Other securities(1)	159.2		(1.7)		0.6		(2.9)		155.2
Total fixed maturity securities	2,366.7		(4.5)		3.9		(179.8)		2,186.3
Short-term investments	119.1		—		—		—		119.1
Total AFS investments	$	2,485.8	$	(4.5)	$	3.9	$	(179.8)	$	2,305.4

(1)Other securities within fixed maturity securities consist of bank loans, which are classified as AFS and reported at fair value.

Equity securities table

The cost and estimated fair value of the Company's equity securities recorded at fair value at December 31, 2023 and 2022 were as follows:


	Cost		Estimated Fair Value
	(in millions)
At December 31, 2023
Equity securities at fair value
Industrial and miscellaneous	$	104.4	$	181.7
Other	21.5		29.5
Total equity securities at fair value	$	125.9	$	211.2

At December 31, 2022
Equity securities at fair value
Industrial and miscellaneous	$	115.3	$	165.3
Other	28.9		31.7
Total equity securities at fair value	$	144.2	$	197.0

Investments classified by contractual maturity date table


	Amortized Cost		Estimated Fair Value
	(in millions)
Due in one year or less	$	8.4	$	8.2
Due after one year through five years	642.7		623.7
Due after five years through ten years	615.2		576.6
Due after ten years	88.2		82.3
Mortgage and asset-backed securities	693.5		645.5
Total	$	2,048.0	$	1,936.3

Unrealized loss on investments table


	December 31, 2023					December 31, 2022
	Estimated Fair Value		Gross Unrealized Losses		Number of Issues	Estimated Fair Value		Gross Unrealized Losses		Number of Issues
Less than 12 months:	(dollars in millions)
Fixed maturity securities
U.S. Treasuries	$	11.9	$	(0.1)	5	$	76.8	$	(3.5)	13
U.S. Agencies	—		—		—	2.1		(0.1)		1
States and municipalities	39.5		(0.3)		15	193.4		(9.0)		68
Corporate securities	26.1		(0.8)		13	763.3		(76.4)		335
Residential mortgage-backed securities	15.8		(0.2)		15	236.8		(17.9)		186
Commercial mortgage-backed securities	—		—		—	52.5		(5.7)		22
Asset-backed securities	24.0		(0.1)		15	27.6		(2.6)		22
Collateralized loan obligations	—		—		—	209.9		(5.5)		37

Other securities	12.6		(0.1)		70	81.6		(1.8)		224
Total fixed maturity securities	129.9		(1.6)		133	1,644.0		(122.5)		908
Total less than 12 months	$	129.9	$	(1.6)	133	$	1,644.0	$	(122.5)	908

12 months or greater:
Fixed maturity securities
U.S. Treasuries	$	23.7	$	(2.4)	7	$	11.2	$	(0.9)	4
U.S. Agencies	2.2		(0.1)		1	—		—		—
States and municipalities	73.5		(4.9)		32	5.4		(0.9)		3
Corporate securities	684.5		(62.4)		331	84.6		(18.1)		84
Residential mortgage-backed securities	306.6		(37.8)		228	106.6		(25.7)		65
Commercial mortgage-backed securities	53.0		(6.4)		24	2.6		(0.7)		3
Asset-backed securities	47.0		(4.7)		29	27.7		(5.4)		11
Collateralized loan obligations	80.5		(0.7)		21	36.9		(1.7)		11
Foreign government securities	10.4		(2.3)		2	10.2		(2.8)		3
Other securities	10.2		(0.6)		58	38.4		(1.1)		119
Total fixed maturity securities	1,291.6		(122.3)		733	323.6		(57.3)		303
Total 12 months or greater	$	1,291.6	$	(122.3)	733	$	323.6	$	(57.3)	303

Unrealized gain (loss) on investments table


	Gross Realized Gains		Gross Realized Losses		Net Decrease (Increase) Change in CECL Allowance		Change in Net Unrealized Gains (Losses)		Changes in Fair Value Reflected in Earnings		Changes in Fair Value Reflected in AOCI(1), before tax
	(in millions)
Year Ended December 31, 2023
Fixed maturity securities	$	1.0	$	(10.8)	$	1.8	$	66.9	$	(8.0)	$	66.9
Equity securities	0.2		(5.7)		—		32.5		27.0		—
Other invested assets	—		—		—		3.7		3.7		—
Short-term investments	—		—		—		—		—		—
Total investments	$	1.2	$	(16.5)	$	1.8	$	103.1	$	22.7	$	66.9

Year Ended December 31, 2022
Fixed maturity securities	$	3.2	$	(2.5)	$	(4.3)	$	(252.5)	$	(3.6)	$	(252.5)
Equity securities	41.2		(17.1)		—		(73.3)		(49.2)		—
Other invested assets	—		—		—		1.0		1.0		—
Short-term investments	—		—		—		—		—		—
Total investments	$	44.4	$	(19.6)	$	(4.3)	$	(324.8)	$	(51.8)	$	(252.5)

Year Ended December 31, 2021
Fixed maturity securities	$	4.7	$	(1.1)	$	0.5	$	(68.9)	$	4.1	$	(68.9)
Equity securities	20.6		(5.0)		—		30.0		45.6		—
Other invested assets	—		—		—		4.9		4.9		—
Short-term investments	—		—		—		(0.1)		—		(0.1)
Total investments	$	25.3	$	(6.1)	$	0.5	$	(34.1)	$	54.6	$	(69.0)

(1) AOCI means Accumulated other comprehensive income or loss

Investment income table

Net investment income was as follows:


	Years Ended December 31,
	2023		2022		2021
	(in millions)
Fixed maturity securities	$	92.3	$	81.1	$	69.8
Equity securities	6.8		8.3		5.4
Other invested assets	3.8		2.8		2.7
Short-term investments	2.6		0.2		0.2
Cash equivalents and restricted cash	4.7		2.1		—
Gross investment income	110.2		94.5		78.1
Investment expenses	(3.7)		(4.7)		(5.4)
Net investment income	$	106.5	$	89.8	$	72.7

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Schedule II. Condensed Financial Information of Registrant (Condensed Statements of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net income	$ 118.1	$ 48.4	$ 119.3
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Realized gains on investments	(22.7)	51.8	(54.6)
Stock-based compensation	6.2	5.1	9.1
Net amortization on investments	2.4	3.0	8.5
Deferred income tax expense	5.1	(17.3)	6.7
Change in operating assets and liabilities:
Accounts payable, accrued expenses and other liabilities	3.7	7.2	(2.5)
Federal income taxes	(6.7)	8.8	(7.9)
Other	10.4	5.2	6.3
Net cash provided by (used in) operating activities	49.4	99.8	10.8
Investing activities
Purchases of fixed maturity securities	(416.4)	(611.4)	(516.6)
Purchase of equity securities	(39.8)	(124.9)	(199.5)
Purchases of short-term investments	(68.7)	(132.7)	(12.5)
Proceeds from sale of equity securities	53.2	216.3	135.9
Proceeds from sale of fixed maturity securities	558.0	313.8	206.7
Proceeds from maturities and redemptions of fixed maturity securities	162.7	195.0	373.5
Net change in unsettled investment purchases and sales	1.6	(3.3)	3.4
Net cash (used in) provided by investing activities	377.3	(146.1)	(1.7)
Financing activities
Acquisition of common stock	(76.1)	(30.4)	(42.6)
Cash transactions related to stock-based compensation	(1.0)	(1.2)	(2.7)
Dividends paid to stockholders and eligible plan award holders	(29.7)	(90.3)	(29.0)
Proceeds from Lines of Credit	0.0	10.0	27.0
Purchase of Notes Payables	0.0	(10.0)	(27.0)
Net cash used in financing activities	(289.5)	60.4	(94.4)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	137.2	14.1	(85.3)
Cash and cash equivalents at the beginning of the period	89.2
Cash and cash equivalents at the end of the period	226.4	89.2
Parent Company [Member]
Operating activities
Net income	118.1	48.4	119.3
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net income of subsidiaries	45.7	(117.6)	40.9
Realized gains on investments	(1.2)	6.5	0.2
Stock-based compensation	6.2	5.1	9.1
Net amortization on investments	0.0	0.1	0.1
Deferred income tax expense	1.1	(0.5)	(0.2)
Change in operating assets and liabilities:
Accounts payable, accrued expenses and other liabilities	(0.2)	0.8	0.3
Federal income taxes	(7.8)	9.8	(0.7)
Other assets	(0.5)	(0.2)	0.4
Intercompany payable/receivable	(0.9)	0.6	(0.1)
Other	0.0	0.1	0.1
Net cash provided by (used in) operating activities	70.1	188.5	86.6
Investing activities
Purchases of fixed maturity securities	0.0	(14.7)	0.0
Purchase of equity securities	0.0	(40.2)	(35.0)
Purchases of short-term investments	(18.6)	(24.7)	0.0
Proceeds from sale of equity securities	10.0	25.5	10.3
Proceeds from sale of fixed maturity securities	6.6	16.0	0.4
Proceeds from maturities and redemptions of fixed maturity securities	39.3	4.0	0.0
Net change in unsettled investment purchases and sales	0.0	0.0	5.8
Capital Contributions to subsidiary	(17.6)	0.0	0.0
Net cash (used in) provided by investing activities	19.7	(34.1)	(18.5)
Financing activities
Acquisition of common stock	(76.1)	(30.4)	(42.6)
Cash transactions related to stock-based compensation	(1.0)	(1.2)	(2.7)
Dividends paid to stockholders and eligible plan award holders	(29.7)	(90.3)	(29.0)
Proceeds from Lines of Credit	0.0	10.0	27.0
Purchase of Notes Payables	0.0	(10.0)	(27.0)
Net cash used in financing activities	(106.8)	(121.9)	(74.3)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(17.0)	32.5	(6.2)
Cash and cash equivalents at the beginning of the period	37.3	4.8	11.0
Cash and cash equivalents at the end of the period	$ 20.3	$ 37.3	$ 4.8

Reinsurance Reinsurance Premium Note (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premiums Written, Net
Direct premiums, written	$ 758.6	$ 705.3	$ 582.6
Assumed premiums written	9.1	8.9	7.1
Gross premiums written	767.7	714.2	589.7
Ceded premiums written	(7.1)	(7.0)	(6.6)
Premiums written, net	760.6	707.2	583.1
Premiums Earned, Net
Direct premiums earned	719.9	673.2	574.0
Assumed premiums earned	9.0	9.0	7.0
Gross premiums, earned	728.9	682.2	581.0
Ceded premiums earned	(7.1)	(7.0)	(6.6)
Premiums earned, net	721.8	675.2	574.4
Ceded losses and LAE incurred	$ 17.0	$ 3.5	$ 16.8

Notes Payable Principal payment obligations on notes payable outstanding (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Capitalization, Long-term Debt [Line Items]
Repayments of Notes Payable				$ 182.5	$ 0.0	$ 20.0
Federal Home Loan Bank [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Repayments of Notes Payable	$ 15.0	$ 5.0	$ 15.0

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 46.2	$ 24.2	$ 0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	20.7	25.8
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	$ 1.3	$ (1.6)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

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:


	2023						2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(in millions)
State licenses	$	13.5	$	—	$	13.5	$	13.5	$	—	$	13.5
Insurance relationships	9.4		$	(9.4)	—		9.4		(9.4)		—
Other	0.1		—		0.1		0.1		—		0.1
Total	$	23.0	$	(9.4)	$	13.6	$	23.0	$	(9.4)	$	13.6

Accumulated Other Comprehensive Income, Net (Tables)

12 Months Ended

Dec. 31, 2023

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

Schedule of accumulated other comprehensive income (loss) table

The following table summarizes the components of Accumulated other comprehensive loss:


	Years Ended December 31,
	2023		2022
	(in millions)
Net unrealized losses on investments, before taxes	$	(108.9)	$	(175.8)
Deferred tax benefit on net unrealized losses	22.9		36.9
Total accumulated other comprehensive loss	$	(86.0)	$	(138.9)