0001174947-24-001214 | 10-Q/A | XBRL Viewer

Property and Equipment

6 Months Ended

Jun. 30, 2024

8. Property and Equipment

Property and equipment, presented on a consolidated basis, including both continuing and discontinued operations, consisted of the following:

	June 30, 2024			December 31, 2023			Estimated Useful Life
Cost:
Land	$	1,249		$	1,403		indefinite
Building and improvements		12,259			14,538		10 – 43 years
Electronic data processing equipment		1,441			1,441		5 – 7 years
Furniture and fixtures		2,733			2,953		5 – 7 years
Automobiles		1,265			1,319		2 – 3 years
Gross cost		18,947			21,654

Accumulated depreciation		(11,361	)		(11,757	)
Total property and equipment, net	$	7,586		$	9,897

Depreciation expense was $187 and $188 for the three months ended June 30, 2024 and 2023, respectively, and $430 and $370 for the six months ended June 30, 2024 and 2023, respectively. Depreciation expense for continuing operations was $187 and $156 for the three months ended June 30, 2024 and 2023, respectively, and $341 and $309 for the six months ended June 30, 2024 and 2023, respectively. The depreciation expense for discontinued operations for the three months ended June 30, 2024, was $0 due to the impact of an asset transfer from Westminster to Nodak Insurance during the quarter.

Property and equipment for current and prior year continuing and discontinued operations consisted of the following:

	June 30, 2024
Cost:
Continuing operations	$	18,947
Discontinued operations		—
Total cost		18,947

Accumulated depreciation
Continuing operations		(11,361	)
Discontinued operations		—
Total accumulated depreciation		(11,361	)

Total property and equipment, net	$	7,586

	December 31, 2023
Cost:
Continuing operations	$	18,756
Discontinued operations		2,898
Total cost		21,654

Accumulated depreciation
Continuing operations		(11,304	)
Discontinued operations		(453	)
Total accumulated depreciation		(11,757	)

Total property and equipment, net	$	9,897

Share-Based Compensation (Details) $ in Thousands	6 Months Ended
Share-Based Compensation (Details) $ in Thousands	Jun. 30, 2024 USD ($) shares
Share-Based Payment Arrangement [Member]
Share-Based Compensation [Line Items]
Shares issued (in Shares) \| shares	1,000,000
Shares granted (in Shares) \| shares	100,000
Outstanding, aggregate intrinsic value	$ 1,000
Restricted Stock [Member]
Share-Based Compensation [Line Items]
Percentage of RSU granted to non-employee directors per year	100.00%
Total unrecognized compensation cost	$ 1,620
Total unrecognized compensation cost, weighted average period	1 year 4 months 9 days
Performance Shares [Member]
Share-Based Compensation [Line Items]
Total unrecognized compensation cost	$ 1,591
Total unrecognized compensation cost, weighted average period	2 years 3 months 3 days
Minimum [Member] \| Performance Shares [Member]
Share-Based Compensation [Line Items]
Percentage of RSU granted to employees per year	0.00%
Maximum [Member] \| Performance Shares [Member]
Share-Based Compensation [Line Items]
Percentage of RSU granted to employees per year	150.00%
Director [Member] \| Share-Based Payment Arrangement [Member]
Share-Based Compensation [Line Items]
Share granted not exceed	$ 150

Share-Based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Compensation [Abstract]

Share-Based Compensation

17.

Share-Based Compensation

The NI Holdings, Inc. 2020 Stock and Incentive Plan (the “Plan”) is designed to promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining employees, officers, consultants, independent contractors, advisors, and non-employee directors capable of assuring the future success of the Company, to offer such persons incentives to put forth maximum efforts for the success of the Company’s business and to afford such persons an opportunity to acquire an ownership interest in the Company, thereby aligning the interests of such persons with the Company’s shareholders.

The Plan provides for the grant of nonqualified stock options, incentive stock options, restricted stock units (“RSUs”), stock appreciation rights, dividend equivalents, and performance share units (“PSUs”) to employees, officers, consultants, advisors, non-employee directors, and independent contractors designated by the Compensation Committee of the Board of Directors (the “Compensation Committee”). Awards made under the Plan are based upon, among other things, a participant’s level of responsibility and performance within the Company.

The total aggregate number of shares of common stock that may be issued under the Plan shall not exceed 1,000,000 shares, subject to adjustments as provided in the Plan. No eligible participant may be granted any awards for more than 100,000 shares in the aggregate in any calendar year, subject to adjustment in accordance with the Plan. The aggregate amount payable pursuant to all performance awards denominated in cash to any eligible person in any calendar year is limited to $1,000 in value. Directors who are not also employees of the Company may not be granted awards denominated in shares that exceed $150 in any calendar year.

Restricted Stock Units

The Compensation Committee has awarded RSUs to non-employee directors and select executives. RSUs are promises to issue actual shares of common stock at the end of a vesting period. The RSUs granted to executives under the Plan are based on salary. RSUs granted prior to 2024 vest equally over a five-year period. Effective for executive grants in 2024, the RSUs vest equally over a three-year period. The RSUs granted to non-employee directors vest 100% on the date of the next annual meeting of shareholders following the grant date. Dividend equivalents on RSUs are accrued during the vesting period and paid in cash at the end of the vesting period but are subject to forfeiture until the underlying shares become vested. Participants do not have voting rights with respect to RSUs.

The Company recognizes stock-based compensation costs for RSUs based on the grant date fair value. The compensation costs are normally expensed over the vesting periods to each vesting date; however, the cost of RSUs granted to executives are expensed immediately if the executive has met certain retirement criteria and the RSUs become non-forfeitable. Estimated forfeitures are included in the determination of compensation costs. No forfeitures are currently estimated.

A summary of the Company’s outstanding and unearned RSUs is presented below:

	RSUs			Weighted-Average Grant-Date Fair Value Per Share
Units outstanding and unearned at January 1, 2023		115,360		$	17.00
RSUs granted during 2023		85,000			13.76
RSUs earned during 2023		(53,780	)		16.32
Units outstanding and unearned at December 31, 2023		146,580			15.37

RSUs granted during 2024		103,600			14.45
RSUs earned during 2024		(69,420	)		14.82
Units outstanding and unearned at June 30, 2024		180,760			15.06

The following table shows the impact of RSU activity to the Company’s financial results:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
RSU compensation expense	$	371		$	257		$	767		$	559
Income tax benefit		(84	)		(58	)		(174	)		(127	)
RSU compensation expense, net of income taxes	$	287		$	199		$	593		$	432

At June 30, 2024, there was $1,620 of unrecognized compensation cost related to outstanding RSUs. That cost is expected to be recognized over a weighted-average period of 1.36 years.

Performance Share Units

The Compensation Committee has awarded PSUs to select executives. PSUs are promises to issue actual shares of common stock at the end of a vesting period, if certain performance conditions are met. The PSUs granted to employees under the Plan are based on salary and, prior to 2024, include a three-year adjusted book value cumulative growth target with threshold and stretch goals. Effective for grants made in 2024, the performance metric is calculated based on an adjusted return on equity over a three-year period, with annual resets. They will vest on the third anniversary of the grant date, subject to the participant’s continuous employment through the vesting date and the level of performance achieved. Dividend equivalents on PSUs are accrued and paid in cash at the end of the performance period in accordance with the level of performance achieved but are subject to forfeiture until the underlying shares become vested. Participants do not have voting rights with respect to PSUs.

The Company recognizes stock-based compensation costs for PSUs based on the grant date fair value over the performance period of the awards. Estimated forfeitures are included in the determination of compensation costs. The current cost estimates represent the Company’s forecasted performance against cumulative growth targets.

A summary of the Company’s outstanding PSUs is presented below:

	PSUs			Weighted-Average Grant-Date Fair Value Per Share
Units outstanding at January 1, 2023		190,000		$	17.00
PSUs granted during 2023 (at target)		87,400			13.85
PSUs earned during 2023		—			—
Performance adjustment ⁽¹⁾		(63,600	)		14.26
Forfeitures		—			—
Units outstanding at December 31, 2023		213,800			16.53

PSUs granted during 2024 (at target)		79,800			14.19
PSUs earned during 2024		—			—
Performance adjustment ⁽¹⁾		(64,600	)		18.64
Forfeitures		—			—
Units outstanding at June 30, 2024		229,000			15.12

(1) Represents the change in PSUs issued based upon the attainment of performance goals established by the Company.

The following table shows the impact of PSU activity to the Company’s financial results:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
PSU compensation expense	$	184		$	139		$	369		$	277
Income tax benefit		(42	)		(32	)		(84	)		(63	)
PSU compensation expense, net of income taxes	$	142		$	107		$	285		$	214

The cost estimates for PSU grants represent initial target awards until we can reasonably forecast the financial performance of each PSU award grant. At the end of the performance period, we will reflect a performance adjustment, which may be either an increase or decrease from the initial target awards. The actual number of shares to be issued at the end of the performance period will range from 0% to 150% of the initial target awards. As of December 31, 2023, the previously recognized compensation expense related to the PSU awards granted during 2022 and 2021 was eliminated due to the Company's expectation that the threshold performance goal will not be met.

At June 30, 2024, there was $1,591 of unrecognized compensation cost related to outstanding PSUs. That cost is expected to be recognized over a weighted-average period of 2.26 years.

Investments (Details) - Schedule of Amortized Cost and Estimated Fair Value of Fixed Income Securities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed income securities:
Cost or Amortized Cost	$ 329,486	$ 376,730
Allowance for Expected Credit Losses
Gross Unrealized Gains	685	1,320
Gross Unrealized Losses	(26,756)	(30,319)
Fair Value	303,415	347,731
U.S. Government and agencies [Member]
Fixed income securities:
Cost or Amortized Cost	12,075	10,998
Allowance for Expected Credit Losses
Gross Unrealized Gains	21
Gross Unrealized Losses	(355)	(736)
Fair Value	11,741	10,262
Obligations of states and political subdivisions [Member]
Fixed income securities:
Cost or Amortized Cost	56,568	55,769
Allowance for Expected Credit Losses
Gross Unrealized Gains	191	408
Gross Unrealized Losses	(4,897)	(4,716)
Fair Value	51,862	51,461
Corporate securities [Member]
Fixed income securities:
Cost or Amortized Cost	125,282	152,630
Allowance for Expected Credit Losses
Gross Unrealized Gains	138	442
Gross Unrealized Losses	(8,980)	(10,856)
Fair Value	116,440	142,216
Residential mortgage-backed securities [Member]
Fixed income securities:
Cost or Amortized Cost	48,926	66,362
Allowance for Expected Credit Losses
Gross Unrealized Gains	38	180
Gross Unrealized Losses	(5,061)	(5,379)
Fair Value	43,903	61,163
Commercial mortgage-backed securities [Member]
Fixed income securities:
Cost or Amortized Cost	28,301	33,532
Allowance for Expected Credit Losses
Gross Unrealized Gains	61	148
Gross Unrealized Losses	(3,324)	(4,241)
Fair Value	25,038	29,439
Asset-backed securities [Member]
Fixed income securities:
Cost or Amortized Cost	54,596	52,692
Allowance for Expected Credit Losses
Gross Unrealized Gains	236	142
Gross Unrealized Losses	(3,699)	(3,805)
Fair Value	51,133	49,029
Redeemable preferred stocks [Member]
Fixed income securities:
Cost or Amortized Cost	3,738	4,747
Allowance for Expected Credit Losses
Gross Unrealized Gains
Gross Unrealized Losses	(440)	(586)
Fair Value	$ 3,298	$ 4,161

Investments (Details) - Schedule of Net Investment Gains (Losses) for Continuing and Discontinued Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gross realized gains:
Total gross realized gains	$ 191	$ 344	$ 390	$ 13,018
Gross realized losses, excluding credit impairment losses:
Total gross realized losses, excluding credit impairment losses	(182)	(442)	(472)	(1,481)
Net realized gains (losses)	9	(98)	(82)	11,537
Change in net unrealized gains on equity securities	(589)	(75)	958	(10,307)
Net investment gains (losses) – continuing operations	(580)	(173)	876	1,230
Net investment gains (losses) – discontinued operations	(256)	(1)	116	12
Net investment gains	(836)	(174)	992	1,242
Fixed income securities [Member]
Gross realized gains:
Total gross realized gains			9
Gross realized losses, excluding credit impairment losses:
Total gross realized losses, excluding credit impairment losses		(185)	(15)	(440)
Equity securities [Member]
Gross realized gains:
Total gross realized gains	191	344	381	13,018
Gross realized losses, excluding credit impairment losses:
Total gross realized losses, excluding credit impairment losses	$ (182)	$ (257)	$ (457)	$ (1,041)

Line of Credit (Details) $ in Thousands	6 Months Ended
Line of Credit (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Line of Credit [Line Items]
Line of credit with Wells Fargo Bank	$ 3,000
Floating interest rate	2.50%
Outstanding amount
Line of credit expiration date	Dec. 13, 2024

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Unearned Employee Stock Ownership Plan Shares	Retained Earnings	Accumulated Other Comprehensive Loss, Net of Income Taxes	Treasury Stock	Non-Controlling Interest	Total
Balance at Dec. 31, 2022	$ 230	$ 95,671	$ (941)	$ 214,121	$ (29,286)	$ (28,818)	$ 2,230	$ 253,207
Battle Creek demutualization
Net loss				(12,332)			(403)	(12,735)
Impact of Westminster unrealized investment gains/losses
Other comprehensive income (loss), net of income taxes					2,300		107	2,407
Purchase of treasury stock						(3,223)		(3,223)
Share-based compensation		901						901
Issuance of vested award shares		(822)		(271)		919		(174)
Balance at Jun. 30, 2023	230	95,750	(941)	201,518	(26,986)	(31,122)	1,934	240,383
Balance at Mar. 31, 2023	230	95,568	(941)	209,710	(24,848)	(28,803)	2,155	253,071
Battle Creek demutualization
Net loss				(8,122)			(113)	(8,235)
Impact of Westminster unrealized investment gains/losses
Other comprehensive income (loss), net of income taxes					(2,138)		(108)	(2,246)
Purchase of treasury stock						(2,602)		(2,602)
Share-based compensation		396						396
Issuance of vested award shares		(214)		(70)		283		(1)
Balance at Jun. 30, 2023	230	95,750	(941)	201,518	(26,986)	(31,122)	1,934	240,383
Balance at Dec. 31, 2023	230	96,294	(698)	208,376	(21,384)	(35,177)	2,758	250,399
Battle Creek demutualization				3,832	(1,074)		(2,758)
Net loss				(13,203)				(13,203)
Impact of Westminster unrealized investment gains/losses				(4,380)	4,380
Other comprehensive income (loss), net of income taxes					(2,114)			(2,114)
Purchase of treasury stock
Share-based compensation		1,136						1,136
Issuance of vested award shares		(849)		(184)		879		(154)
Balance at Jun. 30, 2024	230	96,581	(698)	194,441	(20,192)	(34,298)		236,064
Balance at Mar. 31, 2024	230	96,320	(698)	218,451	(23,858)	(34,599)		255,846
Battle Creek demutualization
Net loss				(19,622)				(19,622)
Impact of Westminster unrealized investment gains/losses				(4,380)	4,380
Other comprehensive income (loss), net of income taxes					(714)			(714)
Purchase of treasury stock
Share-based compensation		555						555
Issuance of vested award shares		(294)		(8)		301		(1)
Balance at Jun. 30, 2024	$ 230	$ 96,581	$ (698)	$ 194,441	$ (20,192)	$ (34,298)		$ 236,064

- Definition

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

- Definition

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

+ References

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+ Details

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

14. Leases

Primero leases a facility in Spearfish, South Dakota under a non-cancellable operating lease expiring in 2028, and leases a facility in Las Vegas, Nevada on a month-to-month basis. Direct Auto leases a facility in Chicago, Illinois under a non-cancellable operating lease expiring in 2029. Nodak Insurance leases a facility in Fargo, North Dakota under a non-cancellable operating lease expiring in 2029. In addition, Nodak Insurance leases server equipment under a non-cancellable finance lease expiring in 2026.

Effective for the year ended December 31, 2022, the Company adopted the updated guidance for leases. See Part II, Item 8, Note 2 “Recent Accounting Pronouncements” section of the 2023 Annual Report for additional information. We determine whether a contract is or contains a lease at the inception of the contract. A contract will be deemed to be or contain a lease if the contract conveys the right to control and directs the use of identified property or equipment for a period of time in exchange for consideration. We generally must also have the right to obtain substantially all of the economic benefits from the use of the property and equipment. Lease assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. To determine the present value of lease payments not yet paid, we estimate incremental borrowing rates based on the floating interest rate on our Line of Credit with Wells Fargo Bank, N.A. at the lease commencement date, as rates are not implicitly stated in most leases. Lease liabilities are included in accrued expenses and other liabilities and right-of-use assets are included in other assets in the Consolidated Balance Sheets.

There were expenses of $122 and $98 related to these leases during the three months ended June 30, 2024 and 2023, respectively, and $244 and $196 during the six months ended June 30, 2024 and 2023.

Additional information regarding the Company’s leases are as follows:

	As of and For the Three Months Ended June 30,				As of and For the Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease expense	$	96	$	98	$	192	$	196
Finance lease cost								—
Amortization of right-of-use assets		20		—		40		—
Interest on lease liabilities		6		—		12		—
Finance lease cost		26		—		52		—
Total lease cost	$	122	$	98	$	244	$	196

Other information on leases:
Cash payments included in operating cash flows from operating leases	$	102	$	103	$	203	$	204
Cash payments included in operating cash flows from finance leases		6		—		12		—
Cash payments included in financing cash flows from finance leases		24		—		48		—
Right-of-use assets obtained in exchange for new operating lease liabilities		185		247		185		247
Right-of-use assets obtained in exchange for new finance lease liabilities		—		—		—		—
Weighted average discount rate – operating leases		4.46%		3.95%		4.46%		3.95%
Weighted average discount rate – finance leases		8.50%		—		8.50%		—
Weighted average remaining lease term in years – operating leases		4.9 years		5.8 years		4.9 years		5.8 years
Weighted average remaining lease term in years – finance leases		2.3 years		—		2.3 years		—

The following table presents the contractual maturities of the Company’s operating leases for each of the five years in the period ending December 31, 2028, and thereafter, reconciled to the Company’s operating lease liability at June 30, 2024.

Year ending December 31,	Operating Leases		Finance Leases		Total
2024 (six months remaining)	$	196	$	60	$	256
2025		393		120		512
2026		396		100		497
2027		401		—		401
2028		376		—		376
Thereafter		212		—		212
Total undiscounted lease payments		1,974		280		2,254
Less: present value adjustment		193		26		218
Lease liability at June 30, 2024	$	1,781	$	254	$	2,036

Investments (Details) - Schedule of Amortized Cost and Estimated Fair Value of Fixed Income Securities for Continuing and Discontinued Operations - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed income securities:
Cost or Amortized Cost	$ 329,486	$ 376,730
Allowance for Expected Credit Losses
Gross Unrealized Gains	685	1,320
Gross Unrealized Losses	(26,756)	(30,319)
Fair Value	303,415	347,731
Continuing Operations [Member]
Fixed income securities:
Cost or Amortized Cost	329,486	313,182
Allowance for Expected Credit Losses
Gross Unrealized Gains	685	1,116
Gross Unrealized Losses	(26,756)	(24,899)
Fair Value	303,415	289,399
Discontinued Operations [Member]
Fixed income securities:
Cost or Amortized Cost		63,548
Allowance for Expected Credit Losses
Gross Unrealized Gains		204
Gross Unrealized Losses		(5,420)
Fair Value		$ 58,332

- Definition

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

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

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

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

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

+ Details

Reinsurance (Tables)

6 Months Ended

Jun. 30, 2024

Reinsurance [Abstract]

Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis

A reconciliation of direct to net premiums on both a written and an earned basis, presented on a consolidated basis, including both continuing and discontinued operations, is as follows:

	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Direct premium	$	140,488		$	111,082		$	144,250		$	106,162
Assumed premium		2,340			653			2,440			827
Ceded premium		(16,265	)		(11,183	)		(20,439	)		(12,843	)
Net premiums	$	126,563		$	100,552		$	126,251		$	94,146

	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Direct premium	$	243,145		$	205,982		$	234,806		$	191,636
Assumed premium		2,477			804			2,839			1,403
Ceded premium		(26,072	)		(20,677	)		(28,898	)		(21,266	)
Net premiums	$	219,550		$	186,109		$	208,747		$	171,773

	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Continuing operations:
Direct premium	$	118,472		$	91,500		$	121,576		$	86,622
Assumed premium		2,340			653			2,440			827
Ceded premium		(11,663	)		(6,984	)		(15,984	)		(8,614	)
Net premiums	$	109,149		$	85,169		$	108,032		$	78,835

	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Discontinued operations:
Direct premium	$	22,016		$	19,582		$	22,674		$	19,540
Assumed premium		—			—			—			—
Ceded premium		(4,602	)		(4,199	)		(4,455	)		(4,229	)
Net premiums	$	17,414		$	15,383		$	18,219		$	15,311

	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Continuing operations:
Direct premium	$	201,513		$	166,899		$	193,948		$	153,292
Assumed premium		2,477			804			2,839			1,403
Ceded premium		(17,329	)		(12,650	)		(20,359	)		(12,989	)
Net premiums	$	186,661		$	155,053		$	176,428		$	141,706

	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Discontinued operations:
Direct premium	$	41,632		$	39,083		$	40,858		$	38,344
Assumed premium		—			—			—			—
Ceded premium		(8,743	)		(8,027	)		(8,539	)		(8,277	)
Net premiums	$	32,889		$	31,056		$	32,319		$	30,067

Schedule of Reconciliation of Direct to Net Losses and Loss Adjustment Expenses

A reconciliation of direct to net losses and loss adjustment expenses, presented on a consolidated basis, including both continuing and discontinued operations, is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Direct losses and loss adjustment expenses	$	88,568		$	95,149		$	143,222		$	166,010
Assumed losses and loss adjustment expenses		224			67			269			157
Ceded losses and loss adjustment expenses		(7,993	)		(17,710	)		(10,483	)		(29,836	)
Net losses and loss adjustment expenses	$	80,799		$	77,506		$	133,008		$	136,331

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Continuing operations:
Direct losses and loss adjustment expenses	$	73,350		$	66,211		$	114,869		$	108,164
Assumed losses and loss adjustment expenses		224			67			269			157
Ceded losses and loss adjustment expenses		(4,216	)		(6,201	)		(5,636	)		(7,119	)
Net losses and loss adjustment expenses	$	69,358		$	60,077		$	109,502		$	101,202

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Discontinued operations:
Direct losses and loss adjustment expenses	$	15,218		$	28,938		$	28,353		$	57,846
Assumed losses and loss adjustment expenses		—			—			—			—
Ceded losses and loss adjustment expenses		(3,777	)		(11,509	)		(4,847	)		(22,717	)
Net losses and loss adjustment expenses	$	11,441		$	17,429		$	23,506		$	35,129

Schedule of Pooling Share Percentages by Insurance Company

For the six months ended June 30, 2024, and the year ended December 31, 2023, the pooling share percentages by insurance company were:

	Pool Percentage
Nodak Insurance Company		66.0%
American West Insurance Company		7.0%
Primero Insurance Company		3.0%
Battle Creek Insurance Company		2.0%
Direct Auto Insurance Company		13.0%
Westminster American Insurance Company		9.0%
Total		100.0%

Unpaid Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Unpaid Losses and Loss Adjustment Expenses [Abstract]
Incurred reported losses and loss adjustment expenses	$ 7,773	$ 9,477

Reinsurance (Details) - Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Premium Earned [Member] \| Premiums Written [Member]
Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis [Line Items]
Premiums Written, Direct premium	$ 140,488	$ 144,250	$ 243,145	$ 234,806
Premiums Written, Assumed premium	2,340	2,440	2,477	2,839
Premiums Written, Ceded premium	(16,265)	(20,439)	(26,072)	(28,898)
Premiums Written, Net premiums	126,563	126,251	219,550	208,747
Net Premium Earned [Member] \| Premiums Earned [Member]
Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis [Line Items]
Premiums Earned, Direct premium	111,082	106,162	205,982	191,636
Premiums Earned, Assumed premium	653	827	804	1,403
Premiums Earned, Ceded premium	(11,183)	(12,843)	(20,677)	(21,266)
Premiums Earned, Net premiums	100,552	94,146	186,109	171,773
Continuing Operations [Member] \| Premiums Written [Member]
Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis [Line Items]
Premiums Written, Direct premium	118,472	121,576	201,513	193,948
Premiums Written, Assumed premium	2,340	2,440	2,477	2,839
Premiums Written, Ceded premium	(11,663)	(15,984)	(17,329)	(20,359)
Premiums Written, Net premiums	109,149	108,032	186,661	176,428
Continuing Operations [Member] \| Premiums Earned [Member]
Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis [Line Items]
Premiums Earned, Direct premium	91,500	86,622	166,899	153,292
Premiums Earned, Assumed premium	653	827	804	1,403
Premiums Earned, Ceded premium	(6,984)	(8,614)	(12,650)	(12,989)
Premiums Earned, Net premiums	85,169	78,835	155,053	141,706
Discontinued Operations [Member] \| Premiums Written [Member]
Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis [Line Items]
Premiums Written, Direct premium	22,016	22,674	41,632	40,858
Premiums Written, Assumed premium
Premiums Written, Ceded premium	(4,602)	(4,455)	(8,743)	(8,539)
Premiums Written, Net premiums	17,414	18,219	32,889	32,319
Discontinued Operations [Member] \| Premiums Earned [Member]
Schedule of Reconciliation of Direct to Net Premiums on Both a Written and an Earned Basis [Line Items]
Premiums Earned, Direct premium	19,582	19,540	39,083	38,344
Premiums Earned, Assumed premium
Premiums Earned, Ceded premium	(4,199)	(4,229)	(8,027)	(8,277)
Premiums Earned, Net premiums	$ 15,383	$ 15,311	$ 31,056	$ 30,067

Benefit Plans

6 Months Ended

Jun. 30, 2024

Benefit Plans [Abstract]

Benefit Plans

11. Benefit Plans

Nodak Insurance sponsors a 401(k) plan with an automatic and matching contribution for eligible employees at Nodak Insurance, Primero, and Direct Auto. Nodak Insurance also contributes an additional elective amount of employee compensation as a profit-sharing contribution for eligible employees. Westminster also sponsored a separate 401(k) plan until the company was sold on June 30, 2024. American West and Battle Creek have no employees. The Company reported expenses related to these plans totaling $210 and $189 during the three months ended June 30, 2024 and 2023, respectively, and $420 and $378 during the six months ended June 30, 2024 and 2023, respectively.

All fees associated with the plans are deducted from the eligible employee accounts.

The Company also offers a non-qualified deferred compensation plan to key executives of the Company (as designated by the Board of Directors). The Company’s policy is to fund the plan by amounts that represent the excess of the maximum contribution allowed by the Employee Retirement Income Security Act over the key executives’ allowable 401(k) contribution. The plan also allows employee-directed deferral of key executives’ compensation or incentive payments. The Company reported expenses related to this plan totaling $33 and $45 during the three months ended June 30, 2024 and 2023, respectively, and $231 and $212 during the six months ended June 30, 2024 and 2023, respectively.

In connection with our initial public offering (“IPO”) in March 2017, the Company established its Employee Stock Ownership Plan (the “ESOP”) within the meaning of Internal Revenue Code Section 4975(e)(7) and invests solely in common stock of the Company.

Upon establishment of the ESOP, Nodak Insurance loaned $2,400 to the ESOP’s related trust (the “ESOP Trust”). The ESOP loan was for a period of ten years, bearing interest at the long-term Applicable Federal Rate effective on the closing date of the offering (2.79% annually). The ESOP Trust used the proceeds of the loan to purchase shares in our IPO, which resulted in the ESOP Trust owning approximately 1.0% of the Company’s authorized shares. The ESOP has purchased the shares for investment and not for resale.

The shares purchased by the ESOP Trust in the offering are held in a suspense account as collateral for the ESOP loan. Nodak Insurance makes semi-annual cash contributions to the ESOP in amounts no smaller than the amounts required for the ESOP Trust to make its loan payments to Nodak Insurance. While the ESOP makes two loan payments per year, a pre-determined portion of the shares are released from the suspense account and allocated to participant accounts at the end of the calendar year. This release and allocation occurs on an annual basis over the ten-year term of the ESOP loan. Nodak Insurance has a lien on the shares of common stock of the Company held by the ESOP to secure repayment of the loan from the ESOP to Nodak Insurance. If the ESOP is terminated as a result of a change in control of the Company, the ESOP may be required to pay the costs of terminating the plan.

It is anticipated that the only assets held by the ESOP will be shares of the Company’s common stock. Participants in the ESOP cannot direct the investment of any assets allocated to their accounts. The ESOP participants are employees of Nodak Insurance. The employees of Primero, Direct Auto, and Westminster do not participate in the ESOP.

Each employee of Nodak Insurance automatically becomes a participant in the ESOP if such employee is at least 21 years old, has completed a minimum of one thousand hours of service with Nodak Insurance, and has completed an Eligibility Computation Period. Employees are not permitted to make any contributions to the ESOP. Participants in the ESOP receive annual reports from the Company showing the number of shares of common stock of the Company allocated to the participants’ accounts and the market value of those shares. The shares are allocated to participants based on compensation as provided for in the ESOP.

In connection with the establishment of the ESOP, the Company created a contra-equity account on the Consolidated Balance Sheet equal to the ESOP’s basis in the shares. The basis of those shares was set at $10.00 per share as part of the IPO. As shares are released from the ESOP suspense account, the contra-equity account is credited, which reduces the impact of the contra-equity account on the Company’s Consolidated Balance Sheets over time. The Company records compensation expense related to the shares released, equal to the number of shares released from the suspense account multiplied by the average market value of the Company’s stock during the period.

The Company recognized compensation expense related to the ESOP of $92 and $83 during the three months ended June 30, 2024 and 2023, respectively, and $176 and $164 during the six months ended June 30, 2024 and 2023, respectively.

Through June 30, 2024, and December 31, 2023, the Company had released and allocated 170,205 ESOP shares to participants, with a remainder of 69,795 ESOP shares in suspense at June 30, 2024, and December 31, 2023. Using the Company’s quarter-end market price of $15.30 per share, the fair value of the unearned ESOP shares was $1,068 at June 30, 2024.

Common and Preferred Stock (Tables)

6 Months Ended

Jun. 30, 2024

Common and Preferred Stock [Abstract]

Schedule of Changes in the Number of Common Stock Shares Outstanding

Changes in the number of common stock shares outstanding were as follows:

	Six Months Ended June 30,
	2024		2023
Shares outstanding, beginning of period		20,599,908		21,076,255
Treasury shares repurchased through stock repurchase authorization		—		(238,164	)
Issuance of treasury shares for vesting of restricted stock units		48,734		47,887
Shares outstanding, end of period		20,648,642		20,885,978

Reinsurance (Details) - Schedule of Reconciliation of Direct to Net Losses and Loss Adjustment Expenses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Continuing and Discontinued Operations [Member]
Effects of Reinsurance [Line Items]
Direct losses and loss adjustment expenses	$ 88,568	$ 95,149	$ 143,222	$ 166,010
Assumed losses and loss adjustment expenses	224	67	269	157
Ceded losses and loss adjustment expenses	(7,993)	(17,710)	(10,483)	(29,836)
Net losses and loss adjustment expenses	80,799	77,506	133,008	136,331
Continuing Operations [Member]
Effects of Reinsurance [Line Items]
Direct losses and loss adjustment expenses	73,350	66,211	114,869	108,164
Assumed losses and loss adjustment expenses	224	67	269	157
Ceded losses and loss adjustment expenses	(4,216)	(6,201)	(5,636)	(7,119)
Net losses and loss adjustment expenses	69,358	60,077	109,502	101,202
Discontinued Operations [Member]
Effects of Reinsurance [Line Items]
Direct losses and loss adjustment expenses	15,218	28,938	28,353	57,846
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses	(3,777)	(11,509)	(4,847)	(22,717)
Net losses and loss adjustment expenses	$ 11,441	$ 17,429	$ 23,506	$ 35,129

Unpaid Losses and Loss Adjustment Expenses

6 Months Ended

Jun. 30, 2024

Unpaid Losses and Loss Adjustment Expenses [Abstract]

Unpaid Losses and Loss Adjustment Expenses

7. Unpaid Losses and Loss Adjustment Expenses

Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows for both continuing and discontinued operations:

	Six Months Ended June 30,
	2024		2023
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses	$	217,119	$	190,459
Reinsurance recoverables on losses		48,969		37,575
Net balance, beginning of period		168,150		152,884

Incurred related to:
Current year		125,235		126,854
Prior years		7,773		9,477
Total incurred		133,008		136,331

Paid related to:
Current year		45,494		50,010
Prior years		54,372		60,675
Total paid		99,866		110,685

Westminster balances disposed in sale:
Liability for unpaid losses and loss adjustment expenses		107,508		—
Reinsurance recoverables on losses		45,320		—
Net balance, end of period		62,188		—

Balance, end of period:
Liability for unpaid losses and loss adjustment expenses		148,527		232,038
Reinsurance recoverables on losses		9,423		53,508
Net balance, end of period	$	139,104	$	178,530

During the six months ended June 30, 2024, the Company’s incurred reported losses and loss adjustment expenses included $7,773 of net unfavorable development on prior accident years, primarily attributable to Direct Auto. During the six months ended June 30, 2023, the Company’s incurred reported losses and loss adjustment expenses included $9,477 of net unfavorable development on prior accident years, primarily attributable to Direct Auto and Westminster.

Changes in unpaid losses and loss adjustment expense reserves are generally the result of ongoing analysis of recent loss development trends. As additional information becomes known regarding individual claims, original estimates are increased or decreased accordingly.

The tables for current and prior year continuing and discontinued operations showing the liability for unpaid losses and loss adjustment expense are shown below:

	Six Months Ended June 30,
	2024		2023
Continuing operations:
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses	$	119,185	$	114,296
Reinsurance recoverables on losses		6,460		8,586
Net balance, beginning of period		112,725		105,710

Incurred related to:
Current year		101,120		100,574
Prior years		8,382		628
Total incurred		109,502		101,202

Paid related to:
Current year		39,930		41,857
Prior years		43,193		38,468
Total paid		83,123		80,325

Balance, end of period:
Liability for unpaid losses and loss adjustment expenses		148,527		137,535
Reinsurance recoverables on losses		9,423		10,948
Net balance, end of period	$	139,104	$	126,587

	Six Months Ended June 30,
	2024			2023
Discontinued operations:
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses	$	97,934		$	76,163
Reinsurance recoverables on losses		42,509			28,989
Net balance, beginning of period		55,425			47,174

Incurred related to:
Current year		24,115			26,280
Prior years		(609	)		8,849
Total incurred		23,506			35,129

Paid related to:
Current year		5,564			8,153
Prior years		11,179			22,207
Total paid		16,743			30,360

Balance, end of period:
Liability for unpaid losses and loss adjustment expenses		107,508			94,503
Reinsurance recoverables on losses		45,320			42,560
Net balance, end of period	$	62,188		$	51,943

Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Investments [Abstract]
Fixed income securities with a fair value	$ 7,245	$ 6,403

Accounting Policies, by Policy (Policies)

6 Months Ended

Jun. 30, 2024

Basis of Presentation and Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. All material intercompany transactions and balances have been eliminated. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2023 Annual Report.

The Consolidated Balance Sheet at December 31, 2023, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements.

The preparation of the interim unaudited 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 interim unaudited consolidated financial statements and the reported amounts of revenues, claims, and expenses during the reporting period. Actual results could differ from those estimates. Operating results for the interim periods ended June 30, 2024, are not necessarily indicative of the results that may be expected for the year ended December 31, 2024.

Our 2023 Annual Report describes the accounting policies and estimates that are critical to the understanding of our results of operations, financial condition, and liquidity. The accounting policies and estimation processes described in the 2023 Annual Report were consistently applied to the unaudited consolidated financial statements as of and for the six months ended June 30, 2024 and 2023.

Discontinued Operations

Discontinued Operations

On May 7, 2024, NI Holdings entered into a Stock Purchase Agreement (“Purchase Agreement”) to sell its subsidiary, Westminster, to Scott Insurance Holdings, a privately owned Maryland limited liability company. Scott Insurance Holdings is affiliated with John Scott, Sr., the father of the president of Westminster, John Scott, Jr. The sale closed on June 30, 2024. The Purchase Agreement included a cash purchase price of $10,500, subject to certain post-closing adjustments, including a post-closing payment to NI Holdings for the amount by which the ending statutory surplus balance for Westminster exceeded $20,000. The expected post-closing payment from Scott Insurance Holdings, is $1,772 and has been included as an adjustment to the purchase price for the calculation of the loss on the sale of Westminster. The sale of Westminster, which represented the majority of our Commercial segment in prior periods, represents a strategic shift that will have a major effect on our operations and financial results. Therefore, Westminster will be reported as discontinued operations in the Consolidated Balance Sheets, Consolidated Statements of Operations, and Consolidated Statements of Cash Flows for all periods presented in this Form 10-Q/A. All current and prior periods reflected in this Form 10-Q/A have been presented as continuing and discontinued operations, unless otherwise noted. For additional information see Part I, Item 1, Note 19 “Discontinued Operations” of this Form 10-Q/A.

Restatement

Restatement

The Company is amending and restating its consolidated financial statements on this Quarterly Report on Form 10-Q/A due to errors resulting from the incorrect accounting for, and presentation of, the previously announced sale of Westminster. Specifically, the Company failed to record certain receivables on Westminster’s closing balance sheet as well as the corresponding payable for Nodak Insurance for amounts owed to Westminster related to the final settlement of the intercompany reinsurance pooling agreement after the date of sale. Failure to include this receivable in Westminster’s closing net assets and liabilities also caused an understatement of the loss on sale of discontinued operations, which also understated the Company’s total net loss. The impact of the corrections related to this error on the consolidated financial statements as of and for the three- and six-month periods ended June 30, 2024, are as follows:

Consolidated Balance Sheets (Unaudited)

	As of June 30, 2024
	As Reported		Adjustment			As Restated
Accrued expenses and other liabilities	$	24,368	$	3,386		$	27,754
Total liabilities	$	331,537	$	3,386		$	334,923
Retained earnings	$	197,827	$	(3,386	)	$	194,441
Total shareholders’ equity	$	239,450	$	(3,386	)	$	236,064

Consolidated Statements of Operations (Unaudited)

	Three Months Ended June 30, 2024									Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Loss on sale of discontinued operations, net of taxes	$	(7,762	)	$	(3,386	)	$	(11,148	)	$	(7,762	)	$	(3,386	)	$	(11,148	)
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)

Loss per common share:
Basic	$	(0.77	)	$	(0.17	)	$	(0.94	)	$	(0.47	)	$	(0.16	)	$	(0.63	)
Diluted	$	(0.77	)	$	(0.17	)	$	(0.94	)	$	(0.47	)	$	(0.16	)	$	(0.63	)

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

	Three Months Ended June 30, 2024									Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Comprehensive loss	$	(16,950	)	$	(3,386	)	$	(20,336	)	$	(11,931	)	$	(3,386	)	$	(15,317	)

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)

	As of and for the Three Months Ended June 30, 2024									As of and for the Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Retained earnings	$	197,827		$	(3,386	)	$	194,441		$	197,827		$	(3,386	)	$	194,441
Total shareholders’ equity	$	239,450		$	(3,386	)	$	236,064		$	239,450		$	(3,386	)	$	236,064

Consolidated Statements of Cash Flows (Unaudited)

	Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated
Net income (loss)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Net cash flows from operating activities – loss on sale of discontinued operations	$	15,865		$	3,386		$	19,251
Total adjustments	$	43,065		$	3,386		$	46,451

The notes to the consolidated financial statements as well as Management’s Discussion and Analysis of Financial Condition and Results of Operations have also been amended as necessary as a result of the restatements outlined above.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Adopted

For information regarding accounting pronouncements that the Company adopted during the periods presented, see Item II, Part 8, Note 2 “Recent Accounting Pronouncements” section of the 2023 Annual Report.

Not Yet Adopted

Improvements to Reportable Segment Disclosures – In November 2023, the Financial Accounting Standards Board (“FASB”) issued guidance related to improving disclosures for reportable segments primarily through enhanced disclosures about significant segment expenses that are provided to the chief operating decision maker (“CODM”). This guidance also requires disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently evaluating the impact of the new standard on our consolidated financial statements, which is expected to result in enhanced disclosures.

Improvements to Income Tax Disclosures – In December 2023, the FASB issued guidance related to improving income tax disclosures. This guidance requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The guidance is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this update are effective for annual periods beginning after December 15, 2024. We are currently evaluating the impact of the new standard on our consolidated financial statements, which is expected to result in enhanced disclosures.

Segment Information

6 Months Ended

Jun. 30, 2024

Segment Information [Abstract]

Segment Information

20.

Segment Information

We have five reportable operating segments of our continuing operations, which consist of Private Passenger Auto, Non-Standard Auto, Home and Farm, Crop, and All Other (which primarily consists of commercial, assumed reinsurance, and our excess liability business). Prior to the sale of Westminster on June 30, 2024, we also reported a Commercial segment that consisted primarily of Westminster’s balances and results. Subsequent to the sale, Westminster is reported as part of discontinued operations, which is not included in our segment information. The commercial business that remains a part of our continuing operations has been included in the All Other segment for the current and prior periods presented. We operate only in the U.S., and no single customer or agent provides 10 percent or more of our revenues. The following tables provide available information of these segments for the three- and six-month periods ended June 30, 2024 and 2023.

For purposes of evaluating profitability of the Non-Standard Auto segment, we combine the policy fees paid by the insured with the underwriting gain or loss as its primary measure. As a result, these fees are allocated to the Non-Standard Auto segment (included in fee and other income) in the tables below. The remaining fee and other income amounts are not allocated to any segment.

We do not assign or allocate all line items in our Consolidated Statement of Operations or Consolidated Balance Sheets to our operating segments. Those line items include net investment income, net investment gains, fee and other income excluding Non-Standard Auto, and income tax expense (benefit) within the Unaudited Consolidated Statement of Operations. For the Consolidated Balance Sheets, those items include cash and investments, property and equipment, other assets, accrued expenses and other liabilities, income taxes recoverable or payable, and shareholders’ equity.

	Three Months Ended June 30, 2024
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	23,395		$	26,820		$	24,999		$	13,118		$	3,168		$	91,500
Assumed premiums earned		—			—			—			503			150			653
Ceded premiums earned		(924	)		(77	)		(3,075	)		(2,643	)		(265	)		(6,984	)
Net premiums earned		22,471			26,743			21,924			10,978			3,053			85,169

Direct losses and loss adjustment expenses		20,899			19,313			22,574			8,916			1,648			73,350
Assumed losses and loss adjustment expenses		—			—			—			247			(23	)		224
Ceded losses and loss adjustment expenses		(970	)		—			(548	)		(1,852	)		(846	)		(4,216	)
Net losses and loss adjustment expenses		19,929			19,313			22,026			7,311			779			69,358

Gross margin		2,542			7,430			(102	)		3,667			2,274			15,811

Underwriting and general expenses		6,836			10,261			7,246			1,712			1,464			27,519
Underwriting gain (loss)		(4,294	)		(2,831	)		(7,348	)		1,955			810			(11,708	)

Fee and other income					340												695
					(2,491	)
Net investment income																	2,523
Net investment gains (losses)																	(580	)
Loss before income taxes																	(9,070	)
Income tax expense (benefit)																	(1,592	)
Net loss																	(7,478	)
Net loss attributable to non-controlling interest																	—
Net loss attributable to NI Holdings, Inc.																$	(7,478	)

Operating Ratios:
Loss and loss adjustment expense ratio		88.7%			72.2%			100.5%			66.6%			25.5%			81.4%
Expense ratio		30.4%			38.4%			33.1%			15.6%			48.0%			32.3%
Combined ratio		119.1%			110.6%			133.6%			82.2%			73.5%			113.7%


Balances at June 30, 2024:
Premiums and agents’ balances receivable	$	26,393		$	15,357		$	11,927		$	36,382		$	2,772		$	92,831
Deferred policy acquisition costs		6,719			11,533			9,598			2,120			1,187			31,157
Reinsurance recoverables on losses		930			—			2,726			1,685			4,082			9,423
Receivable from Federal Crop Insurance Corporation		—			—			—			13,793			—			13,793
Goodwill and other intangibles		—			2,728			—			—			—			2,728
Unpaid losses and loss adjustment expenses		33,643			69,951			26,336			8,770			9,827			148,527
Unearned premiums		38,682			36,170			54,147			21,695			7,036			157,730

	Three Months Ended June 30, 2023
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	21,508		$	21,744		$	22,994		$	17,526		$	2,850		$	86,622
Assumed premiums earned		—			—			—			501			326			827
Ceded premiums earned		(965	)		(99	)		(2,580	)		(4,691	)		(279	)		(8,614	)
Net premiums earned		20,543			21,645			20,414			13,336			2,897			78,835

Direct losses and loss adjustment expenses		18,456			14,139			18,414			12,702			2,500			66,211
Assumed losses and loss adjustment expenses		—			—			—			—			67			67
Ceded losses and loss adjustment expenses		411			—			(499	)		(4,492	)		(1,621	)		(6,201	)
Net losses and loss adjustment expenses		18,867			14,139			17,915			8,210			946			60,077

Gross margin		1,676			7,506			2,499			5,126			1,951			18,758

Underwriting and general expenses		5,796			8,730			6,194			2,683			856			24,259
Underwriting gain (loss)		(4,120	)		(1,224	)		(3,695	)		2,443			1,095			(5,501	)

Fee and other income					239												490
					(985	)
Net investment income																	1,923
Net investment gains (losses)																	(173	)
Loss before income taxes																	(3,261	)
Income tax expense (benefit)																	(685	)
Net loss																	(2,576	)
Net loss attributable to non-controlling interest																	(113	)
Net loss attributable to NI Holdings, Inc.																$	(2,463	)

Operating Ratios:
Loss and loss adjustment expense ratio		91.8%			65.3%			87.8%			61.6%			32.7%			76.2%
Expense ratio		28.3%			40.3%			30.3%			20.0%			29.5%			30.9%
Combined ratio		120.1%			105.6%			118.1%			81.6%			62.2%			107.1%


Balances at June 30, 2023:
Premiums and agents’ balances receivable	$	23,840		$	10,322		$	9,793		$	44,950		$	2,344		$	91,249
Deferred policy acquisition costs		5,785			8,870			7,974			2,832			1,009			26,470
Reinsurance recoverables on losses		727			—			4,691			3,114			2,416			10,948
Receivable from Federal Crop Insurance Corporation		—			—			—			14,032			—			14,032
Goodwill and other intangibles		—			2,736			—			—			—			2,736
Unpaid losses and loss adjustment expenses		31,935			52,866			30,503			11,603			10,628			137,535
Unearned premiums		35,317			28,067			48,690			27,193			6,412			145,679

	Six Months Ended June 30, 2024
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	46,619		$	51,878		$	49,244		$	12,915		$	6,243		$	166,899
Assumed premiums earned		—			—			—			503			301			804
Ceded premiums earned		(2,046	)		(147	)		(5,905	)		(3,989	)		(563	)		(12,650	)
Net premiums earned		44,573			51,731			43,339			9,429			5,981			155,053

Direct losses and loss adjustment expenses		32,308			36,182			35,356			6,955			4,068			114,869
Assumed losses and loss adjustment expenses		—			—			—			247			22			269
Ceded losses and loss adjustment expenses		(1,086	)		—			(1,149	)		(1,448	)		(1,953	)		(5,636	)
Net losses and loss adjustment expenses		31,222			36,182			34,207			5,754			2,137			109,502

Gross margin		13,351			15,549			9,132			3,675			3,844			45,551

Underwriting and general expenses		13,857			20,565			13,943			1,711			2,965			53,041
Underwriting gain (loss)		(506	)		(5,016	)		(4,811	)		1,964			879			(7,490	)

Fee and other income					690												1,099
					(4,326	)
Net investment income																	5,278
Net investment gains (losses)																	876
Loss before income taxes																	(237	)
Income tax expense (benefit)																	306
Net loss																	(543	)
Net loss attributable to non-controlling interest																	—
Net loss attributable to NI Holdings, Inc.																$	(543	)

Operating Ratios:
Loss and loss adjustment expense ratio		70.0%			69.9%			78.9%			61.0%			35.7%			70.6%
Expense ratio		31.1%			39.8%			32.2%			18.1%			49.6%			34.2%
Combined ratio		101.1%			109.7%			111.1%			79.1%			85.3%			104.8%

	Six Months Ended June 30, 2023
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	42,050		$	42,716		$	45,426		$	17,516		$	5,584		$	153,292
Assumed premiums earned		—			—			—			501			902			1,403
Ceded premiums earned		(1,853	)		(192	)		(5,021	)		(5,405	)		(518	)		(12,989	)
Net premiums earned		40,197			42,524			40,405			12,612			5,968			141,706

Direct losses and loss adjustment expenses		34,081			31,177			27,937			12,032			2,937			108,164
Assumed losses and loss adjustment expenses		—			—			—			—			157			157
Ceded losses and loss adjustment expenses		412			—			(1,303	)		(4,597	)		(1,631	)		(7,119	)
Net losses and loss adjustment expenses		34,493			31,177			26,634			7,435			1,463			101,202

Gross margin		5,704			11,347			13,771			5,177			4,505			40,504

Underwriting and general expenses		12,279			17,791			12,464			2,715			1,815			47,064
Underwriting gain (loss)		(6,575	)		(6,444	)		1,307			2,462			2,690			(6,560	)

Fee and other income					471												751
					(5,973	)
Net investment income																	3,614
Net investment gains (losses)																	1,230
Loss before income taxes																	(965	)
Income tax expense (benefit)																	(203	)
Net loss																	(762	)
Net loss attributable to non-controlling interest																	(403	)
Net loss attributable to NI Holdings, Inc.																$	(359	)

Operating Ratios:
Loss and loss adjustment expense ratio		85.8%			73.3%			65.9%			59.0%			24.5%			71.4%
Expense ratio		30.5%			41.8%			30.8%			21.5%			30.4%			33.2%
Combined ratio		116.3%			115.1%			96.7%			80.5%			54.9%			104.6%

- 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.

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+ Details

Basis of Presentation and Accounting Policies (As Restated)

6 Months Ended

Jun. 30, 2024

Basis of Presentation and Accounting Policies [Abstract]

Basis of Presentation and Accounting Policies (As Restated)

2. Basis of Presentation and Accounting Policies (As Restated)

Basis of Presentation

Discontinued Operations

Restatement

Consolidated Balance Sheets (Unaudited)

	As of June 30, 2024
	As Reported		Adjustment			As Restated
Accrued expenses and other liabilities	$	24,368	$	3,386		$	27,754
Total liabilities	$	331,537	$	3,386		$	334,923
Retained earnings	$	197,827	$	(3,386	)	$	194,441
Total shareholders’ equity	$	239,450	$	(3,386	)	$	236,064

Consolidated Statements of Operations (Unaudited)

	Three Months Ended June 30, 2024									Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Loss on sale of discontinued operations, net of taxes	$	(7,762	)	$	(3,386	)	$	(11,148	)	$	(7,762	)	$	(3,386	)	$	(11,148	)
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)

Loss per common share:
Basic	$	(0.77	)	$	(0.17	)	$	(0.94	)	$	(0.47	)	$	(0.16	)	$	(0.63	)
Diluted	$	(0.77	)	$	(0.17	)	$	(0.94	)	$	(0.47	)	$	(0.16	)	$	(0.63	)

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

	Three Months Ended June 30, 2024									Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Comprehensive loss	$	(16,950	)	$	(3,386	)	$	(20,336	)	$	(11,931	)	$	(3,386	)	$	(15,317	)

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)

	As of and for the Three Months Ended June 30, 2024									As of and for the Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Retained earnings	$	197,827		$	(3,386	)	$	194,441		$	197,827		$	(3,386	)	$	194,441
Total shareholders’ equity	$	239,450		$	(3,386	)	$	236,064		$	239,450		$	(3,386	)	$	236,064

Consolidated Statements of Cash Flows (Unaudited)

	Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated
Net income (loss)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Net cash flows from operating activities – loss on sale of discontinued operations	$	15,865		$	3,386		$	19,251
Total adjustments	$	43,065		$	3,386		$	46,451

Recent Accounting Pronouncements

Adopted

Not Yet Adopted

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Line Items]
Leases expenses	$ 122	$ 98	$ 244	$ 196
Spearfish [Member]
Leases [Line Items]
Operating lease expire term			2028 years
Chicago [Member]
Leases [Line Items]
Operating lease expire term			2029 years
Fargo [Member]
Leases [Line Items]
Operating lease expire term			2029 years

Discontinued Operations (As Restated) (Tables)

6 Months Ended

Jun. 30, 2024

Discontinued Operations [Abstract]

Schedule of Assets and Liabilities Associated with Discontinued Operations

The Company’s Consolidated Statements of Cash Flows presents operating, investing, and financing cash flows of the discontinued operations separately. The major assets and liability categories were as follows as of the dates indicated:

	June 30, 2024		December 31, 2023
Assets:
Cash and cash equivalents	$	—	$	15,656
Fixed income securities, at fair value		—		58,332
Equity securities, at fair value		—		5,784
Total cash and investments		—		79,772

Premiums and agents’ balances receivable		—		17,904
Deferred policy acquisition costs		—		7,330
Reinsurance premiums receivable		—		5,464
Reinsurance recoverables on losses		—		42,509
Accrued investment income		—		438
Property and equipment, net		—		2,445
Deferred income taxes		—		(815	)
Goodwill and other intangibles		—		7,311
Other assets		—		99
Total assets of discontinued operations	$	—	$	162,457

Liabilities:
Unpaid losses and loss adjustment expenses	$	—	$	97,934
Unearned premiums		—		38,000
Income tax payable (receivable)		—		(59	)
Accrued expenses and other liabilities		—		5,422
Total liabilities of discontinued operations	$	—	$	141,297

Schedule of Operating Results of Discontinued Operations

Summary operating results of discontinued operations were as follows for the periods indicated:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Revenues:
Net premiums earned	$	15,383		$	15,311		$	31,056		$	30,067
Fee and other income		7			9			14			22
Net investment income		621			582			1,419			1,130
Net investment gains (losses)		(256	)		(1	)		116			12
Total revenues		15,755			15,901			32,605			31,231

Expenses:
Losses and loss adjustment expenses		11,441			17,429			23,506			35,129
Amortization of deferred policy acquisition costs		4,083			3,795			7,928			7,379
Other underwriting and general expenses		1,495			1,820			3,088			3,675
Total expenses		17,019			23,044			34,522			46,183

Loss before income taxes		(1,264	)		(7,143	)		(1,917	)		(14,952	)
Income tax benefit		(268	)		(1,484	)		(405	)		(2,979	)
Net loss	$	(996	)	$	(5,659	)	$	(1,512	)	$	(11,973	)

Loss per common share from discontinued operations:
Basic	$	(0.05	)	$	(0.26	)	$	(0.07	)	$	(0.56	)
Diluted	$	(0.05	)	$	(0.26	)	$	(0.07	)	$	(0.56	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 20
-Name Accounting Standards Codification
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
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-Name Accounting Standards Codification
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
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-Name Accounting Standards Codification
-Section 50
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3

+ Details

Fair Value Measurements (Details) - Schedule of Assets Which are Measured on a Recurring Basis - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed income securities:
Total fixed income securities	$ 303,415	$ 347,731
Equity securities:
Total equity securities	22,973	21,983
Money market accounts and cash equivalents	18,108	25,596
Total assets at fair value	344,496	401,094
Level 1 [Member]
Fixed income securities:
Total fixed income securities
Equity securities:
Money market accounts and cash equivalents	18,108	19,412
Total assets at fair value	41,081	47,179
Level 2 [Member]
Fixed income securities:
Total fixed income securities	303,415	347,731
Equity securities:
Money market accounts and cash equivalents		6,184
Total assets at fair value	303,415	353,915
Level 3 [Member]
Fixed income securities:
Total fixed income securities
Equity securities:
Money market accounts and cash equivalents
Total assets at fair value
U.S. Government and agencies [Member]
Fixed income securities:
Total fixed income securities	11,741	10,262
U.S. Government and agencies [Member] \| Level 1 [Member]
Fixed income securities:
Total fixed income securities
U.S. Government and agencies [Member] \| Level 2 [Member]
Fixed income securities:
Total fixed income securities	11,741	10,262
U.S. Government and agencies [Member] \| Level 3 [Member]
Fixed income securities:
Total fixed income securities
Obligations of states and political subdivisions [Member]
Fixed income securities:
Total fixed income securities	51,862	51,461
Obligations of states and political subdivisions [Member] \| Level 1 [Member]
Fixed income securities:
Total fixed income securities
Obligations of states and political subdivisions [Member] \| Level 2 [Member]
Fixed income securities:
Total fixed income securities	51,862	51,461
Obligations of states and political subdivisions [Member] \| Level 3 [Member]
Fixed income securities:
Total fixed income securities
Corporate securities [Member]
Fixed income securities:
Total fixed income securities	116,440	142,216
Corporate securities [Member] \| Level 1 [Member]
Fixed income securities:
Total fixed income securities
Corporate securities [Member] \| Level 2 [Member]
Fixed income securities:
Total fixed income securities	116,440	142,216
Corporate securities [Member] \| Level 3 [Member]
Fixed income securities:
Total fixed income securities
Residential mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities	43,903	61,163
Residential mortgage-backed securities [Member] \| Level 1 [Member]
Fixed income securities:
Total fixed income securities
Residential mortgage-backed securities [Member] \| Level 2 [Member]
Fixed income securities:
Total fixed income securities	43,903	61,163
Residential mortgage-backed securities [Member] \| Level 3 [Member]
Fixed income securities:
Total fixed income securities
Commercial mortgage-backed securities [Member]
Fixed income securities:
Total fixed income securities	25,038	29,439
Commercial mortgage-backed securities [Member] \| Level 1 [Member]
Fixed income securities:
Total fixed income securities
Commercial mortgage-backed securities [Member] \| Level 2 [Member]
Fixed income securities:
Total fixed income securities	25,038	29,439
Commercial mortgage-backed securities [Member] \| Level 3 [Member]
Fixed income securities:
Total fixed income securities
Asset-backed securities [Member]
Fixed income securities:
Total fixed income securities	51,133	49,029
Asset-backed securities [Member] \| Level 1 [Member]
Fixed income securities:
Total fixed income securities
Asset-backed securities [Member] \| Level 2 [Member]
Fixed income securities:
Total fixed income securities	51,133	49,029
Asset-backed securities [Member] \| Level 3 [Member]
Fixed income securities:
Total fixed income securities
Redeemable preferred stocks [Member]
Fixed income securities:
Total fixed income securities	3,298	4,161
Redeemable preferred stocks [Member] \| Level 1 [Member]
Fixed income securities:
Total fixed income securities
Redeemable preferred stocks [Member] \| Level 2 [Member]
Fixed income securities:
Total fixed income securities	3,298	4,161
Redeemable preferred stocks [Member] \| Level 3 [Member]
Fixed income securities:
Total fixed income securities
Equity Securities [Member]
Equity securities:
Total equity securities	22,973	27,767
Equity Securities [Member] \| Level 1 [Member]
Equity securities:
Total equity securities	22,973	27,767
Equity Securities [Member] \| Level 2 [Member]
Equity securities:
Total equity securities
Equity Securities [Member] \| Level 3 [Member]
Equity securities:
Total equity securities
Non-redeemable preferred stocks [Member] \| Equity Securities [Member]
Equity securities:
Total equity securities		1,877
Non-redeemable preferred stocks [Member] \| Equity Securities [Member] \| Level 1 [Member]
Equity securities:
Total equity securities		1,877
Non-redeemable preferred stocks [Member] \| Equity Securities [Member] \| Level 2 [Member]
Equity securities:
Total equity securities
Non-redeemable preferred stocks [Member] \| Equity Securities [Member] \| Level 3 [Member]
Equity securities:
Total equity securities
Common stock [Member] \| Equity Securities [Member]
Equity securities:
Total equity securities	22,973	25,890
Common stock [Member] \| Equity Securities [Member] \| Level 1 [Member]
Equity securities:
Total equity securities	22,973	25,890
Common stock [Member] \| Equity Securities [Member] \| Level 2 [Member]
Equity securities:
Total equity securities
Common stock [Member] \| Equity Securities [Member] \| Level 3 [Member]
Equity securities:
Total equity securities

Deferred Policy Acquisition Costs (Tables)

6 Months Ended

Jun. 30, 2024

Deferred Policy Acquisition Costs [Abstract]

Schedule of Deferred Policy Acquisition Costs and Asset Reconciliation

The table below, presented on a consolidated basis, including both continuing and discontinued operations, shows the deferred policy acquisition costs and asset reconciliation:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Balance, beginning of period	$	36,565		$	31,350		$	34,120		$	29,768
Deferral of policy acquisition costs		25,962			23,353			49,070			43,523
Amortization of deferred policy acquisition costs		(23,372	)		(20,579	)		(44,035	)		(39,167	)
Westminster balance disposed in sale		(7,998	)		—			(7,998	)		—
Balance, end of period	$	31,157		$	34,124		$	31,157		$	34,124

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Continuing operations:
Balance, beginning of period	$	28,948		$	24,210		$	26,790		$	22,675
Deferral of policy acquisition costs		21,499			19,046			40,474			35,585
Amortization of deferred policy acquisition costs		(19,290	)		(16,784	)		(36,107	)		(31,788	)
Balance, end of period	$	31,157		$	26,472		$	31,157		$	26,472

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Discontinued operations:
Balance, beginning of period	$	7,617		$	7,140		$	7,330		$	7,093
Deferral of policy acquisition costs		4,464			4,307			8,596			7,938
Amortization of deferred policy acquisition costs		(4,083	)		(3,795	)		(7,928	)		(7,379	)
Balance, end of period	$	7,998		$	7,652		$	7,998		$	7,652

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Compensation [Abstract]

Schedule of Restricted Stock Outstanding

A summary of the Company’s outstanding and unearned RSUs is presented below:

	RSUs			Weighted-Average Grant-Date Fair Value Per Share
Units outstanding and unearned at January 1, 2023		115,360		$	17.00
RSUs granted during 2023		85,000			13.76
RSUs earned during 2023		(53,780	)		16.32
Units outstanding and unearned at December 31, 2023		146,580			15.37

RSUs granted during 2024		103,600			14.45
RSUs earned during 2024		(69,420	)		14.82
Units outstanding and unearned at June 30, 2024		180,760			15.06

Schedule of RSU Activity

The following table shows the impact of RSU activity to the Company’s financial results:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
RSU compensation expense	$	371		$	257		$	767		$	559
Income tax benefit		(84	)		(58	)		(174	)		(127	)
RSU compensation expense, net of income taxes	$	287		$	199		$	593		$	432

Schedule of Performance Stock Outstanding

A summary of the Company’s outstanding PSUs is presented below:

	PSUs			Weighted-Average Grant-Date Fair Value Per Share
Units outstanding at January 1, 2023		190,000		$	17.00
PSUs granted during 2023 (at target)		87,400			13.85
PSUs earned during 2023		—			—
Performance adjustment ⁽¹⁾		(63,600	)		14.26
Forfeitures		—			—
Units outstanding at December 31, 2023		213,800			16.53

PSUs granted during 2024 (at target)		79,800			14.19
PSUs earned during 2024		—			—
Performance adjustment ⁽¹⁾		(64,600	)		18.64
Forfeitures		—			—
Units outstanding at June 30, 2024		229,000			15.12

(1) Represents the change in PSUs issued based upon the attainment of performance goals established by the Company.

Schedule of PSU Activity

The following table shows the impact of PSU activity to the Company’s financial results:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
PSU compensation expense	$	184		$	139		$	369		$	277
Income tax benefit		(42	)		(32	)		(84	)		(63	)
PSU compensation expense, net of income taxes	$	142		$	107		$	285		$	214

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (19,622)	$ (8,122)	$ (13,203)	$ (12,332)

- 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 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 2
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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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
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Reinsurance

6 Months Ended

Jun. 30, 2024

Reinsurance [Abstract]

Reinsurance

5. Reinsurance

External Reinsurance

The Company’s consolidated financial statements reflect the effects of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the acceptance of certain insurance risks that other insurance companies have underwritten. Ceded reinsurance involves transferring certain insurance risks (along with the related written and earned premiums) the Company has underwritten to other insurance companies who agree to share these risks. The Company reinsures a portion of the risks it underwrites, through these ceded reinsurance agreements, in order to control its exposure to losses. Our ceded reinsurance is placed either on an automatic basis under general reinsurance contracts known as treaties or through facultative contracts placed on substantial individual risks. These contracts do not relieve the Company from its obligations to policyholders.

During the six-month period ended June 30, 2024, the Company maintained property catastrophe reinsurance protection covering $133,000 in excess of a $20,000 retention. With the exception of Westminster, per risk excess of loss treaties provided coverage of $4,000 in excess of $1,000 for property risks and $11,000 in excess of $1,000 for casualty risks. For Westminster, per risk excess of loss treaties provided coverage of $3,000 in excess of $2,000 for property risks and $10,000 in excess of $2,000 for casualty risks. Additionally, facultative contracts are in place to provide coverage up to $20,000 in excess of $5,000 per property. Aggregate stop loss reinsurance agreements were placed for both crop hail and multi-peril crop coverage. The crop hail aggregate attached at a 100% net loss ratio providing 50 points of cover. The multi-peril crop aggregate attached at a 105% net loss ratio providing 45 points of cover. In addition to the aggregate covers, underlying multi-peril crop reinsurance was provided through the Federal Crop Insurance Corporation (“FCIC”).

Effective July 1, 2024, the Company’s reinsurance contracts were modified to exclude any Westminster losses occurring on or after that date, while maintaining all other existing limits, retentions, and attachment points.

For the year ended December 31, 2023, the Company’s catastrophe retention and retention limit were consistent with those for the six-month period ended June 30, 2024. In addition, limits, retentions, and attachment points in our other reinsurance contracts were also consistent with those for the six-month period ended June 30, 2024 (with the exception of Westminster for which per risk excess of loss treaties provided coverage of $4,000 in excess of $1,000 for property risks and $11,000 in excess of $1,000 for casualty risks).

The Company actively monitors and evaluates the financial condition of the reinsurers and develops estimates of the uncollectible amounts due from reinsurers. Beginning on December 31, 2022, credit losses are recognized through an allowance account developed using a new credit loss model (current expected credit losses or “CECL”). See the Part II, Item 8, Note 2 “Recent Accounting Pronouncements” section of the 2023 Annual Report for additional information. Credit loss estimates are made based on periodic evaluation of balances due from reinsurers, changes in reinsurer credit standing, judgments regarding reinsurers’ solvency, known disputes, reporting characteristics of the underlying reinsured business, historical experience, current economic conditions, and the state of reinsurer relations in general. Collection risk is mitigated by entering into reinsurance arrangements only with reinsurers that have strong credit ratings and statutory surplus above certain levels. At June 30, 2024, and December 31, 2023, management has concluded that it is not necessary to record an allowance for expected credit losses related to reinsurance recoverables. All of our significant reinsurance partners are rated “A-” (Excellent) or better by AM Best, and there is no history of write-offs.

A reconciliation of direct to net premiums on both a written and an earned basis, presented on a consolidated basis, including both continuing and discontinued operations, is as follows:

	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Direct premium	$	140,488		$	111,082		$	144,250		$	106,162
Assumed premium		2,340			653			2,440			827
Ceded premium		(16,265	)		(11,183	)		(20,439	)		(12,843	)
Net premiums	$	126,563		$	100,552		$	126,251		$	94,146

	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Direct premium	$	243,145		$	205,982		$	234,806		$	191,636
Assumed premium		2,477			804			2,839			1,403
Ceded premium		(26,072	)		(20,677	)		(28,898	)		(21,266	)
Net premiums	$	219,550		$	186,109		$	208,747		$	171,773

The reconciliations for current quarter continuing and discontinued operations by duration of the Company’s direct to net premiums on both a written and an earned basis are shown below.

	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Continuing operations:
Direct premium	$	118,472		$	91,500		$	121,576		$	86,622
Assumed premium		2,340			653			2,440			827
Ceded premium		(11,663	)		(6,984	)		(15,984	)		(8,614	)
Net premiums	$	109,149		$	85,169		$	108,032		$	78,835

	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Discontinued operations:
Direct premium	$	22,016		$	19,582		$	22,674		$	19,540
Assumed premium		—			—			—			—
Ceded premium		(4,602	)		(4,199	)		(4,455	)		(4,229	)
Net premiums	$	17,414		$	15,383		$	18,219		$	15,311

The reconciliations for year-to-date continuing and discontinued operations by duration of the Company’s direct to net premiums on both a written and an earned basis are shown below.

	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Continuing operations:
Direct premium	$	201,513		$	166,899		$	193,948		$	153,292
Assumed premium		2,477			804			2,839			1,403
Ceded premium		(17,329	)		(12,650	)		(20,359	)		(12,989	)
Net premiums	$	186,661		$	155,053		$	176,428		$	141,706

	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Premiums Written			Premiums Earned			Premiums Written			Premiums Earned
Discontinued operations:
Direct premium	$	41,632		$	39,083		$	40,858		$	38,344
Assumed premium		—			—			—			—
Ceded premium		(8,743	)		(8,027	)		(8,539	)		(8,277	)
Net premiums	$	32,889		$	31,056		$	32,319		$	30,067

A reconciliation of direct to net losses and loss adjustment expenses, presented on a consolidated basis, including both continuing and discontinued operations, is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Direct losses and loss adjustment expenses	$	88,568		$	95,149		$	143,222		$	166,010
Assumed losses and loss adjustment expenses		224			67			269			157
Ceded losses and loss adjustment expenses		(7,993	)		(17,710	)		(10,483	)		(29,836	)
Net losses and loss adjustment expenses	$	80,799		$	77,506		$	133,008		$	136,331

The reconciliations for current and prior year continuing and discontinued operations of direct to net losses and loss adjustment expenses is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Continuing operations:
Direct losses and loss adjustment expenses	$	73,350		$	66,211		$	114,869		$	108,164
Assumed losses and loss adjustment expenses		224			67			269			157
Ceded losses and loss adjustment expenses		(4,216	)		(6,201	)		(5,636	)		(7,119	)
Net losses and loss adjustment expenses	$	69,358		$	60,077		$	109,502		$	101,202

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Discontinued operations:
Direct losses and loss adjustment expenses	$	15,218		$	28,938		$	28,353		$	57,846
Assumed losses and loss adjustment expenses		—			—			—			—
Ceded losses and loss adjustment expenses		(3,777	)		(11,509	)		(4,847	)		(22,717	)
Net losses and loss adjustment expenses	$	11,441		$	17,429		$	23,506		$	35,129

If 100% of our ceded reinsurance was cancelled as of June 30, 2024, or December 31, 2023, no ceded commissions would need to be returned to the reinsurers. Reinsurance contracts are typically effective from January 1 through December 31 each year.

Intercompany Reinsurance Pooling Arrangement

Effective January 1, 2020, all of our insurance subsidiary and affiliate companies entered into an intercompany reinsurance pooling agreement. Nodak Insurance is the lead company of the pool, and assumes the net premiums, net losses, and underwriting expenses from each of the other five companies. Nodak Insurance then retrocedes balances back to each company, while retaining its own share of the pool’s net underwriting results, based on individual pool percentages established in the respective pooling agreement. This arrangement allows each insurance company to rely upon the capacity of the pool’s total statutory capital and surplus. As a result, they are evaluated by AM Best on a group basis and hold a single combined financial strength rating, long-term issuer credit rating, and financial size category. Subsequent to the June 30, 2024, date of sale, Westminster will cease to be a member of the pool.

For the six months ended June 30, 2024, and the year ended December 31, 2023, the pooling share percentages by insurance company were:

	Pool Percentage
Nodak Insurance Company		66.0%
American West Insurance Company		7.0%
Primero Insurance Company		3.0%
Battle Creek Insurance Company		2.0%
Direct Auto Insurance Company		13.0%
Westminster American Insurance Company		9.0%
Total		100.0%

Basis of Presentation and Accounting Policies (As Restated) (Tables)

6 Months Ended

Jun. 30, 2024

Basis of Presentation and Accounting Policies [Abstract]

Schedule of Consolidated Balance Sheets (Unaudited)

Consolidated Balance Sheets (Unaudited)

	As of June 30, 2024
	As Reported		Adjustment			As Restated
Accrued expenses and other liabilities	$	24,368	$	3,386		$	27,754
Total liabilities	$	331,537	$	3,386		$	334,923
Retained earnings	$	197,827	$	(3,386	)	$	194,441
Total shareholders’ equity	$	239,450	$	(3,386	)	$	236,064

Schedule of Consolidated Statements of Operations (Unaudited)

Consolidated Statements of Operations (Unaudited)

	Three Months Ended June 30, 2024									Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Loss on sale of discontinued operations, net of taxes	$	(7,762	)	$	(3,386	)	$	(11,148	)	$	(7,762	)	$	(3,386	)	$	(11,148	)
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)

Loss per common share:
Basic	$	(0.77	)	$	(0.17	)	$	(0.94	)	$	(0.47	)	$	(0.16	)	$	(0.63	)
Diluted	$	(0.77	)	$	(0.17	)	$	(0.94	)	$	(0.47	)	$	(0.16	)	$	(0.63	)

Schedule of Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

	Three Months Ended June 30, 2024									Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Comprehensive loss	$	(16,950	)	$	(3,386	)	$	(20,336	)	$	(11,931	)	$	(3,386	)	$	(15,317	)

Schedule of Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)

	As of and for the Three Months Ended June 30, 2024									As of and for the Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated			As Reported			Adjustment			As Restated
Net loss	$	(16,236	)	$	(3,386	)	$	(19,622	)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Retained earnings	$	197,827		$	(3,386	)	$	194,441		$	197,827		$	(3,386	)	$	194,441
Total shareholders’ equity	$	239,450		$	(3,386	)	$	236,064		$	239,450		$	(3,386	)	$	236,064

Schedule of Consolidated Statements of Cash Flows (Unaudited)

Consolidated Statements of Cash Flows (Unaudited)

	Six Months Ended June 30, 2024
	As Reported			Adjustment			As Restated
Net income (loss)	$	(9,817	)	$	(3,386	)	$	(13,203	)
Net cash flows from operating activities – loss on sale of discontinued operations	$	15,865		$	3,386		$	19,251
Total adjustments	$	43,065		$	3,386		$	46,451

Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Balance Sheets (Unaudited) $ in Thousands	Jun. 30, 2024 USD ($)
As Reported [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Accrued expenses and other liabilities	$ 24,368
Total liabilities	331,537
Retained earnings	197,827
Total shareholders’ equity	239,450
Adjustment [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Accrued expenses and other liabilities	3,386
Total liabilities	3,386
Retained earnings	(3,386)
Total shareholders’ equity	(3,386)
As Restated [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Accrued expenses and other liabilities	27,754
Total liabilities	334,923
Retained earnings	194,441
Total shareholders’ equity	$ 236,064

- Definition

Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.

+ References

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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7

Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481404/852-10-50-7

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

- Definition

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

+ References

+ Details

Investments (Details) - Schedule of Net Investment Income for Continuing and Discontinued Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Net Investment Income [Line Items]
Total gross investment income	$ 3,330	$ 2,654	$ 6,977	$ 5,208
Investment expenses	807	731	1,699	1,594
Net investment income – continuing operations	2,523	1,923	5,278	3,614
Net investment income – discontinued operations	621	582	1,419	1,130
Net investment income	3,144	2,505	6,697	4,744
Fixed income securities [Member]
Schedule of Net Investment Income [Line Items]
Total gross investment income	2,624	2,283	5,496	4,466
Equity securities [Member]
Schedule of Net Investment Income [Line Items]
Total gross investment income	182	207	423	448
Real estate [Member]
Schedule of Net Investment Income [Line Items]
Total gross investment income	92	97	189	195
Cash and cash equivalents [Member]
Schedule of Net Investment Income [Line Items]
Total gross investment income	$ 432	$ 67	$ 869	$ 99

Contingencies

6 Months Ended

Jun. 30, 2024

Contingencies [Abstract]

Contingencies

15. Contingencies

We have been named as a defendant in various lawsuits relating to our insurance operations. Contingent liabilities arising from litigation, income taxes, and other matters are not considered to be material to our financial position.

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Net of allowance for expected credit losses (in Dollars)	$ 0	$ 0
Premiums and agents' balances receivable net of allowance for expected credit losses (in Dollars)	348	394
Reinsurance recoverables on losses net of allowance for expected credit losses (in Dollars)	$ 0	$ 0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	23,000,000	23,000,000
Common stock, shares outstanding	20,648,642	20,599,908
Treasury stock, shares	2,281,563	2,330,297

Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
As Reported [Member]
Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) [Line Items]
Net loss	$ (16,236)	$ (9,817)
Retained earnings	197,827	197,827
Total shareholders’ equity	239,450	239,450
Adjustment [Member]
Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) [Line Items]
Net loss	(3,386)	(3,386)
Retained earnings	(3,386)	(3,386)
Total shareholders’ equity	(3,386)	(3,386)
As Restated [Member]
Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) [Line Items]
Net loss	(19,622)	(13,203)
Retained earnings	194,441	194,441
Total shareholders’ equity	$ 236,064	$ 236,064

- Definition

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

+ References

+ Details

- Definition

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

+ References

+ Details

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Net premiums earned	$ 85,169	$ 78,835	$ 155,053	$ 141,706
Fee and other income	695	490	1,099	751
Net investment income	2,523	1,923	5,278	3,614
Net investment gains (losses)	(580)	(173)	876	1,230
Total revenues	87,807	81,075	162,306	147,301
Expenses:
Losses and loss adjustment expenses	69,358	60,077	109,502	101,202
Amortization of deferred policy acquisition costs	19,290	16,784	36,107	31,788
Other underwriting and general expenses	8,229	7,475	16,934	15,276
Total expenses	96,877	84,336	162,543	148,266
Loss from continuing operations before income taxes	(9,070)	(3,261)	(237)	(965)
Income tax expense (benefit)	(1,592)	(685)	306	(203)
Net loss from continuing operations	(7,478)	(2,576)	(543)	(762)
Net loss attributable to non-controlling interest		(113)		(403)
Net loss from continuing operations attributable to NI Holdings, Inc.	(7,478)	(2,463)	(543)	(359)
Loss from discontinued operations, net of taxes	(996)	(5,659)	(1,512)	(11,973)
Loss on sale of discontinued operations, net of taxes	(11,148)		(11,148)
Net loss	$ (19,622)	$ (8,122)	$ (13,203)	$ (12,332)
Loss per common share from continuing operations:
Basic (in Dollars per share)	$ (0.36)	$ (0.12)	$ (0.03)	$ (0.02)
Diluted (in Dollars per share)	(0.36)	(0.12)	(0.03)	(0.02)
Loss per common share:
Basic (in Dollars per share)	(0.94)	(0.38)	(0.63)	(0.58)
Diluted (in Dollars per share)	$ (0.94)	$ (0.38)	$ (0.63)	$ (0.58)
Share data:
Weighted average common shares outstanding used in basic per common share calculations (in Shares)	20,970,384	21,281,542	20,951,579	21,325,007
Dilutive securities (in Shares)
Weighted average common shares used in diluted per common share calculations (in Shares)	20,970,384	21,281,542	20,951,579	21,325,007

Basis of Presentation and Accounting Policies (As Restated) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Basis of Presentation and Accounting Policies [Abstract]
Cash purchase price	$ 10,500
Statutory surplus balance	20,000
Post-closing payment	$ 1,772

Investments (Tables)

6 Months Ended

Jun. 30, 2024

Investments [Abstract]

Schedule of Amortized Cost and Estimated Fair Value of Fixed Income Securities

The amortized cost and estimated fair value of fixed income securities, presented on a consolidated basis, including both continuing and discontinued operations, as of June 30, 2024, and December 31, 2023, were as follows:

	June 30, 2024
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. Government and agencies	$	12,075	$	—	$	21	$	(355	)	$	11,741
Obligations of states and political subdivisions		56,568		—		191		(4,897	)		51,862
Corporate securities		125,282		—		138		(8,980	)		116,440
Residential mortgage-backed securities		48,926		—		38		(5,061	)		43,903
Commercial mortgage-backed securities		28,301		—		61		(3,324	)		25,038
Asset-backed securities		54,596		—		236		(3,699	)		51,133
Redeemable preferred stocks		3,738		—		—		(440	)		3,298
Total fixed income securities	$	329,486	$	—	$	685	$	(26,756	)	$	303,415

	December 31, 2023
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. Government and agencies	$	10,998	$	—	$	—	$	(736	)	$	10,262
Obligations of states and political subdivisions		55,769		—		408		(4,716	)		51,461
Corporate securities		152,630		—		442		(10,856	)		142,216
Residential mortgage-backed securities		66,362		—		180		(5,379	)		61,163
Commercial mortgage-backed securities		33,532		—		148		(4,241	)		29,439
Asset-backed securities		52,692		—		142		(3,805	)		49,029
Redeemable preferred stocks		4,747		—		—		(586	)		4,161
Total fixed income securities	$	376,730	$	—	$	1,320	$	(30,319	)	$	347,731

Schedule of Amortized Cost and Estimated Fair Value of Fixed Income Securities for Continuing and Discontinued Operations

The reconciliation of the amortized cost and estimated fair value of fixed income securities for continuing and discontinued operations as of June 30, 2024, and December 31, 2023, were as follows:

	June 30, 2024
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
Continuing operations	$	329,486	$	—	$	685	$	(26,756	)	$	303,415
Discontinued operations		—		—		—		—			—
Total fixed income securities	$	329,486	$	—	$	685	$	(26,756	)	$	303,415

	December 31, 2023
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
Continuing operations	$	313,182	$	—	$	1,116	$	(24,899	)	$	289,399
Discontinued operations		63,548		—		204		(5,420	)		58,332
Total fixed income securities	$	376,730	$	—	$	1,320	$	(30,319	)	$	347,731

Schedule of Contractual Maturity

The amortized cost and estimated fair value of fixed income securities by contractual maturity, presented on a consolidated basis, including both continuing and discontinued operations, are shown below. Actual maturities could differ from contractual maturities because issuers may have the right to call or prepay these securities.

	June 30, 2024
	Amortized Cost		Fair Value
Due to mature:
One year or less	$	12,663	$	12,454
After one year through five years		64,545		61,560
After five years through ten years		72,035		65,882
After ten years		44,682		40,147
Mortgage / asset-backed securities		131,823		120,074
Redeemable preferred stocks		3,738		3,298
Total fixed income securities	$	329,486	$	303,415

	December 31, 2023
	Amortized Cost		Fair Value
Due to mature:
One year or less	$	9,612	$	9,436
After one year through five years		75,794		72,602
After five years through ten years		86,185		79,281
After ten years		47,806		42,620
Mortgage / asset-backed securities		152,586		139,631
Redeemable preferred stocks		4,747		4,161
Total fixed income securities	$	376,730	$	347,731

Schedule of Gross Unrealized Losses on Fixed Income Securities

The investment category and duration of the Company’s gross unrealized losses on fixed income securities, presented on a consolidated basis, including both continuing and discontinued operations, are shown below. Investments with unrealized losses are categorized with a duration of greater than 12 months when all positions of a security have continually been in a loss position for at least 12 months.

	June 30, 2024
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
U.S. Government and agencies	$	3,212	$	(28	)	$	6,071	$	(327	)	$	9,283	$	(355	)
Obligations of states and political subdivisions		9,019		(112	)		36,207		(4,785	)		45,226		(4,897	)
Corporate securities		14,678		(240	)		91,589		(8,740	)		106,267		(8,980	)
Residential mortgage-backed securities		8,535		(121	)		30,354		(4,940	)		38,889		(5,061	)
Commercial mortgage-backed securities		1,928		(42	)		21,112		(3,282	)		23,040		(3,324	)
Asset-backed securities		6,526		(43	)		23,230		(3,656	)		29,756		(3,699	)
Redeemable preferred stocks		—		—			3,297		(440	)		3,297		(440	)
Total fixed income securities	$	43,898	$	(586	)	$	211,860	$	(26,170	)	$	255,758	$	(26,756	)

	December 31, 2023
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
U.S. Government and agencies	$	—	$	—		$	9,018	$	(736	)	$	9,018	$	(736	)
Obligations of states and political subdivisions		5,239		(359	)		36,194		(4,357	)		41,433		(4,716	)
Corporate securities		8,018		(93	)		110,117		(10,763	)		118,135		(10,856	)
Residential mortgage-backed securities		12,054		(104	)		33,341		(5,275	)		45,395		(5,379	)
Commercial mortgage-backed securities		2,678		(5	)		23,713		(4,236	)		26,391		(4,241	)
Asset-backed securities		4,463		(18	)		30,200		(3,787	)		34,663		(3,805	)
Redeemable preferred stocks		—		—			4,161		(586	)		4,161		(586	)
Total fixed income securities	$	32,452	$	(579	)	$	246,744	$	(29,740	)	$	279,196	$	(30,319	)

Schedule of continuing and discontinued operations by duration of the Company’s gross unrealized losses on fixed income

The reconciliation for continuing and discontinued operations by duration of the Company’s gross unrealized losses on fixed income securities are shown below.

	June 30, 2024
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
Continuing operations	$	43,898	$	(586	)	$	211,860	$	(26,170	)	$	255,758	$	(26,756	)
Discontinued operations		—		—			—		—			—		—
Total fixed income securities	$	43,898	$	(586	)	$	211,860	$	(26,170	)	$	255,758	$	(26,756	)

	December 31, 2023
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
Continuing operations	$	24,049	$	(509	)	$	211,367	$	(24,390	)	$	235,416	$	(24,899	)
Discontinued operations		8,403		(70	)		35,377		(5,350	)		43,780		(5,420	)
Total fixed income securities	$	32,452	$	(579	)	$	246,744	$	(29,740	)	$	279,196	$	(30,319	)

Schedule of Net Investment Income for Continuing and Discontinued Operations

Net investment income for continuing and discontinued operations consisted of the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Continuing operations:
Fixed income securities	$	2,624	$	2,283	$	5,496	$	4,466
Equity securities		182		207		423		448
Real estate		92		97		189		195
Cash and cash equivalents		432		67		869		99
Total gross investment income		3,330		2,654		6,977		5,208
Investment expenses		807		731		1,699		1,594
Net investment income – continuing operations		2,523		1,923		5,278		3,614
Net investment income – discontinued operations		621		582		1,419		1,130
Net investment income	$	3,144	$	2,505	$	6,697	$	4,744

Schedule of Net Investment Gains (Losses) for Continuing and Discontinued Operations

Net investment gains (losses) for continuing and discontinued operations consisted of the following:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Continuing operations:
Gross realized gains:
Fixed income securities	$	—		$	—		$	9		$	—
Equity securities		191			344			381			13,018
Total gross realized gains		191			344			390			13,018

Gross realized losses, excluding credit impairment losses:
Fixed income securities		—			(185	)		(15	)		(440	)
Equity securities		(182	)		(257	)		(457	)		(1,041	)
Total gross realized losses, excluding credit impairment losses		(182	)		(442	)		(472	)		(1,481	)

Net realized gains (losses)		9			(98	)		(82	)		11,537

Change in net unrealized gains on equity securities		(589	)		(75	)		958			(10,307	)
Net investment gains (losses) – continuing operations		(580	)		(173	)		876			1,230
Net investment gains (losses) – discontinued operations		(256	)		(1	)		116			12
Net investment gains (losses)	$	(836	)	$	(174	)	$	992		$	1,242

- 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

Reinsurance (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
Reinsurance (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Reinsurance [Line Items]
Reinsurance retention policy, amount retained	$ 133,000
Reinsurance coverage excess amount	20,000
Reinsurance risk excess of loss	45,320
Excess property risks	1,000	$ 1,000
Reinsurance coverage property risk	5,000	11,000
Reinsurance coverage excess of casualty risks	$ 2,000	$ 1,000
Ceded reinsurance percentage	100.00%	100.00%
Multi-Peril Crop [Member]
Reinsurance [Line Items]
Reinsurance risk excess of loss	$ 3,000
Reinsurance coverage property risk	$ 10,000
Net loss ratio percentage	105.00%
Crop [Member]
Reinsurance [Line Items]
Net loss ratio percentage	100.00%
External Reinsurance [Member]
Reinsurance [Line Items]
Reinsurance risk excess of loss	$ 4,000
Excess property risks	2,000
Reinsurance coverage property risk	11,000
Reinsurance coverage excess of casualty risks	1,000
Reinsurer, Other [Member]
Reinsurance [Line Items]
Reinsurance risk excess of loss	$ 20,000	$ 4,000

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2024

Property and Equipment [Abstract]

Schedule of Property and Equipment for Current and Prior Year Continuing and Discontinued Operations

Property and equipment, presented on a consolidated basis, including both continuing and discontinued operations, consisted of the following:

	June 30, 2024			December 31, 2023			Estimated Useful Life
Cost:
Land	$	1,249		$	1,403		indefinite
Building and improvements		12,259			14,538		10 – 43 years
Electronic data processing equipment		1,441			1,441		5 – 7 years
Furniture and fixtures		2,733			2,953		5 – 7 years
Automobiles		1,265			1,319		2 – 3 years
Gross cost		18,947			21,654

Accumulated depreciation		(11,361	)		(11,757	)
Total property and equipment, net	$	7,586		$	9,897

Schedule of Property and Equipment for Current and Prior Year Continuing and Discontinued Operations

Property and equipment for current and prior year continuing and discontinued operations consisted of the following:

	June 30, 2024
Cost:
Continuing operations	$	18,947
Discontinued operations		—
Total cost		18,947

Accumulated depreciation
Continuing operations		(11,361	)
Discontinued operations		—
Total accumulated depreciation		(11,361	)

Total property and equipment, net	$	7,586

	December 31, 2023
Cost:
Continuing operations	$	18,756
Discontinued operations		2,898
Total cost		21,654

Accumulated depreciation
Continuing operations		(11,304	)
Discontinued operations		(453	)
Total accumulated depreciation		(11,757	)

Total property and equipment, net	$	9,897

Discontinued Operations (As Restated) (Details) $ in Thousands	May 07, 2024 USD ($)
Discontinued Operations [Abstract]
Cash purchase price	$ 10,500
Post-closing adjustment amount	1,772
Purchase agreement net amount	12,272
After tax loss	$ 11,148

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Depreciation expense			$ 341	$ 309
Continuing Operations [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 187	$ 156	341	309
Discontinued Operations [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	0
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 187	$ 188	$ 430	$ 370

Goodwill and Other Intangibles (Details) - Schedule of Goodwill by Segment - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill, original recorded value	$ 9,384	$ 9,384
Accumulated impairment losses at the beginning of the period	(6,756)
Goodwill, beginning of period	2,628	9,384
Impairment recognized during the period		(6,756)
Goodwill, end of period	2,628	2,628
Non-standard Auto [Member]
Goodwill [Line Items]
Goodwill, original recorded value	2,628	2,628
Accumulated impairment losses at the beginning of the period
Goodwill, beginning of period	2,628	2,628
Impairment recognized during the period
Goodwill, end of period	2,628	2,628
Commercial [Member]
Goodwill [Line Items]
Goodwill, original recorded value	6,756	6,756
Accumulated impairment losses at the beginning of the period	(6,756)
Goodwill, beginning of period		6,756
Impairment recognized during the period		(6,756)
Goodwill, end of period

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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- 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.

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+ Details

Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
As Reported [Member]
Condensed Statement of Income Captions [Line Items]
Net loss	$ (16,236)	$ (9,817)
Comprehensive loss	(16,950)	(11,931)
Adjustment [Member]
Condensed Statement of Income Captions [Line Items]
Net loss	(3,386)	(3,386)
Comprehensive loss	(3,386)	(3,386)
As Restated [Member]
Condensed Statement of Income Captions [Line Items]
Net loss	(19,622)	(13,203)
Comprehensive loss	$ (20,336)	$ (15,317)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

+ References

+ Details

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 31, 2024
Document Information [Line Items]
Document Type	10-Q/A
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	true
Amendment Description	NI Holdings, Inc. (“NI Holdings”, the “Company”, “we”, “us”, and “our”) is filing this Amendment No. 1 to our Quarterly Report on Form 10-Q/A (“Form 10-Q/A” or “Amended Second Quarter 2024 Quarterly Report”) to amend certain information included in the Company's Quarterly Report on Form 10-Q for the three- and six-month periods ended June 30, 2024, which was filed with the Securities and Exchange Commission (the “SEC”) on August 8, 2024 (the “Original Second Quarter 2024 Quarterly Report”). This Amendment No. 1 is filed to (i) restate the Company’s financial statements as of and for the periods ended June 30, 2024, which should no longer be relied upon; and (ii) describe the restatement and its impact on previously reported amounts.As previously announced in the Company's Current Report on Form 8-K filed with the SEC on October 28, 2024, subsequent to the issuance of the Company's Original Second Quarter 2024 Quarterly Report, the Company identified prior period accounting errors resulting from the incorrect accounting for, and presentation of, the previously announced sale of the Company’s subsidiary, Westminster American Insurance Company (“Westminster”). Additionally, on October 25, 2024, the Audit Committee of the Board of Directors (the “Audit Committee”) of NI Holdings determined, upon the recommendation of Company management, and after consultation with the Company’s independent registered public accounting firm, that the Company’s Original Second Quarter 2024 Quarterly Report and any earnings releases or other communications relating to this period should no longer be relied upon. Management and the Audit Committee determined that the identified errors, described further below, were material and required a restatement of the Original Second Quarter 2024 Quarterly Report within this Form 10-Q/A.Background of RestatementThe Company completed the sale of Westminster on June 30, 2024. Prior to the sale, Westminster was a member of the intercompany reinsurance pooling arrangement (the “pool”) that includes each of the Company’s insurance subsidiaries, the effects of which are eliminated during consolidation for financial reporting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Given that the deal closed on the last day of the quarter, the Company received regulatory approval for Westminster to remain in the pool for purposes of statutory reporting as of and for the period ended June 30, 2024, and removed from the pool during the subsequent quarter. However, for GAAP reporting purposes, Westminster was deemed to have been sold as of the end of the second quarter, and the loss on the sale was determined by offsetting the proceeds with Westminster’s net assets and liabilities.During the preparation of the Company’s consolidated financial statements as of and for the three- and nine-month periods ended September 30, 2024, the Company identified that we unintentionally failed to record approximately $3.4 million of receivables on Westminster’s closing balance sheet as well as the corresponding payable for Nodak Insurance Company (“Nodak”), a subsidiary of the Company, for amounts owed to Westminster related to the final settlement of the pool once Westminster was no longer a member. Rather than including such balances in the Company’s consolidated financial statements, these receivables/payables were eliminated for GAAP purposes as though they were still intercompany receivables/payables, similar to active pool members, prior to determining the loss on the sale of Westminster. Failure to include these receivables in Westminster’s closing net assets and liabilities caused an approximately $3.4 million understatement of the loss on sale of discontinued operations, which also understated the Company’s total net loss by the same $3.4 million, or $0.17 and $0.16 per basic and diluted share for the three- and six-month periods ended June 30, 2024, respectively. There was no impact to our income tax expense/benefit or the tax benefit associated with the loss on sale as a result of this restatement.Control ConsiderationsManagement concluded that the Company’s internal control over financial reporting ("ICFR") and disclosure controls and procedures ("DCPs") were not effective as of June 30, 2024, due to a material weakness in ICFR. The Company did not design and maintain effective controls over its accounting for intercompany reinsurance pooling activity. Specifically, it lacked an effectively designed internal control related to the evaluation of pooling payable/receivable balances, including when a pool member is sold. See Part 1, Item 4 “Controls and Procedures” for additional information.
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Information [Line Items]
Entity Registrant Name	NI HOLDINGS, INC.
Entity Central Index Key	0001681206
Entity File Number	001-37973
Entity Tax Identification Number	81-2683619
Entity Incorporation, State or Country Code	ND
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	1101 First Avenue North
Entity Address, City or Town	Fargo
Entity Address, State or Province	ND
Entity Address, Postal Zip Code	58102
Entity Phone Fax Numbers [Line Items]
City Area Code	(701)
Local Phone Number	298-4200
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	NODK
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		20,648,642

Discontinued Operations (As Restated) (Details) - Schedule of Assets and Liabilities Associated with Discontinued Operations - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents		$ 15,656
Fixed income securities, at fair value		58,332
Equity securities, at fair value		5,784
Total cash and investments		79,772
Premiums and agents’ balances receivable		17,904
Deferred policy acquisition costs		7,330
Reinsurance premiums receivable		5,464
Reinsurance recoverables on losses		42,509
Accrued investment income		438
Property and equipment, net		2,445
Deferred income taxes		(815)
Goodwill and other intangibles		7,311
Other assets		99
Total assets of discontinued operations		162,457
Liabilities:
Unpaid losses and loss adjustment expenses		97,934
Unearned premiums		38,000
Income tax payable (receivable)		(59)
Accrued expenses and other liabilities		5,422
Total liabilities of discontinued operations		$ 141,297

Income Taxes (As Restated)

6 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

Income Taxes (As Restated)

13. Income Taxes (As Restated)

Due to the Battle Creek demutualization, the Company established a net valuation allowance of $346 against their net operating loss carryforwards deferred income tax asset.

At June 30, 2024, and December 31, 2023, we had no unrecognized income tax benefits, no accrued interest and penalties, and no significant uncertain income tax positions. No interest and penalties were recognized during the six-month period ended June 30, 2024, or the year ended December 31, 2023.

Federal income taxes for the six months ended June 30, 2024, were allocated to continuing and discontinued operations at a 21.1% effective tax rate, with continuing operations ending with a 34.0% effective tax rate due to the sale of Westminster and the establishment of the valuation allowance for Battle Creek described above.

- Definition

The entire disclosure for income tax.

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+ Details

Property and Equipment (Details) - Schedule of Property and Equipment - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cost:
Property and equipment, gross cost	$ 18,947	$ 21,654
Accumulated depreciation	(11,361)	(11,757)
Total property and equipment, net	7,586	9,897
Land [Member]
Cost:
Property and equipment, gross cost	1,249	1,403
Building and improvements [Member]
Cost:
Property and equipment, gross cost	12,259	14,538
Electronic data processing equipment [Member]
Cost:
Property and equipment, gross cost	1,441	1,441
Furniture and fixtures [Member]
Cost:
Property and equipment, gross cost	2,733	2,953
Automobiles [Member]
Cost:
Property and equipment, gross cost	$ 1,265	$ 1,319
Minimum [Member] \| Building and improvements [Member]
Cost:
Estimated Useful Life	10 years
Minimum [Member] \| Electronic data processing equipment [Member]
Cost:
Estimated Useful Life	5 years
Minimum [Member] \| Furniture and fixtures [Member]
Cost:
Estimated Useful Life	5 years
Minimum [Member] \| Automobiles [Member]
Cost:
Estimated Useful Life	2 years
Maximum [Member] \| Building and improvements [Member]
Cost:
Estimated Useful Life	43 years
Maximum [Member] \| Electronic data processing equipment [Member]
Cost:
Estimated Useful Life	7 years
Maximum [Member] \| Furniture and fixtures [Member]
Cost:
Estimated Useful Life	7 years
Maximum [Member] \| Automobiles [Member]
Cost:
Estimated Useful Life	3 years

Goodwill and Other Intangibles

6 Months Ended

Jun. 30, 2024

Goodwill and Other Intangibles [Abstract]

Goodwill and Other Intangibles

9. Goodwill and Other Intangibles

Goodwill

The following table presents, on a consolidated basis, including both continuing and discontinued operations, the carrying amount of the Company’s goodwill and related impairment by segment:

	Six Months Ended June 30, 2024								Year Ended December 31, 2023
	Non-Standard Auto		Commercial			Total			Non-Standard Auto		Commercial			Total
Goodwill, original recorded value	$	2,628	$	6,756		$	9,384		$	2,628	$	6,756		$	9,384
Accumulated impairment losses at the beginning of the period		—		(6,756	)		(6,756	)		—		—			—
Goodwill, beginning of period		2,628		—			2,628			2,628		6,756			9,384
Impairment recognized during the period		—		—			—			—		(6,756	)		(6,756	)
Goodwill, end of period	$	2,628	$	—		$	2,628		$	2,628	$	—		$	2,628

Based on the qualitative analyses performed for the goodwill related to our Non-Standard Auto segment, we concluded that goodwill was not impaired as of June 30, 2024, or December 31, 2023.

During the fourth quarter of 2023, we performed a quantitative assessment of the goodwill related to the Westminster acquisition, which was allocated to our Commercial segment, and concluded that the goodwill was fully impaired as of December 31, 2023, resulting in a non-cash impairment charge of $6,756. See the Part II, Item 8, Note 10 “Goodwill and Other Intangibles” section of the 2023 Annual Report for additional information.

Other Intangible Assets

The following table presents on a consolidated basis, including both continuing and discontinued operations, the carrying amount of the Company’s other intangible assets:

June 30, 2024	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Trade names	$	248	$	248	$	—
Distribution network		—		—		—
Total subject to amortization		248		248		—
Not subject to amortization:
State insurance licenses		100		—		100
Total	$	348	$	248	$	100

December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Trade names	$	748	$	448	$	300
Distribution network		6,700		1,489		5,211
Total subject to amortization		7,448		1,937		5,511
Not subject to amortization:
State insurance licenses		1,900		—		1,900
Total	$	9,348	$	1,937	$	7,411

The following table presents the current and prior year continuing and discontinued carrying amounts of the Company’s other intangible assets:

June 30, 2024	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Continuing operations	$	248	$	248	$	—
Discontinued operations		—		—		—
Total subject to amortization		248		248		—

Not subject to amortization
Continuing operations		100		—		100
Discontinued operations		—		—		—
Total not subject to amortization		348		248		100

December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Continuing operations	$	248	$	248	$	—
Discontinued operations		7,200		1,689		5,511
Total subject to amortization		7,448		1,937		5,511

Not subject to amortization
Continuing operations		100		—		100
Discontinued operations		1,800		—		1,800
Total not subject to amortization		9,348		1,937		7,411

We determined during our reviews that other indefinite-lived intangible assets and finite-lived intangible assets were not impaired as of June 30, 2024, or December 31, 2023.

Amortization expense was $105 and $118 for the three months ended June 30, 2024 and 2023, respectively, and $211 and $236 for the six months ended June 30, 2024 and 2023, respectively. Amortization expense for continuing operations was $0 and $12 for the three months ended June 30, 2024 and 2023, respectively, and $0 and $25 for the six months ended June 30, 2024 and 2023, respectively.

Common and Preferred Stock

6 Months Ended

Jun. 30, 2024

Common and Preferred Stock [Abstract]

Common and Preferred Stock

16.

Common and Preferred Stock

Common Stock

Changes in the number of common stock shares outstanding were as follows:

	Six Months Ended June 30,
	2024		2023
Shares outstanding, beginning of period		20,599,908		21,076,255
Treasury shares repurchased through stock repurchase authorization		—		(238,164	)
Issuance of treasury shares for vesting of restricted stock units		48,734		47,887
Shares outstanding, end of period		20,648,642		20,885,978

The changes in the number of common shares outstanding excludes certain non-forfeitable stock award shares that are included in the weighted average common shares outstanding used in basic earnings per common share calculations. The net loss per diluted common share for the three- and six-month periods ended June 30, 2024, excluded the weighted average effects of 127,108 and 120,206 shares of stock awards since the impacts of these potential shares of common stock were anti-dilutive. The net loss per diluted common share for the three- and six-month periods ended June 30, 2023, excluded the weighted average effects of 61,935 and 61,614 shares of stock awards since the impacts of these potential shares of common stock were anti-dilutive.

On May 9, 2022, our Board of Directors approved an authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the six months ended June 30, 2024, we did not repurchase any shares of our common stock. During the six months ended June 30, 2023, we repurchased 238,164 shares of our common stock for $3,223, under our share repurchase authorization. Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed on common share repurchase activity, net of common share issuances, as part of the Inflation Reduction Act of 2022. At June 30, 2024, $2,052 remains available under this authorization.

The cost of this treasury stock is a reduction of shareholders’ equity within our Consolidated Balance Sheets.

Preferred Stock

The Company’s Articles of Incorporation provide authority to issue up to five million shares of preferred stock. No preferred shares are issued or outstanding.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Benefit Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Benefit Plans [Line Items]
Company reported expenses	$ 210	$ 189	$ 420	$ 378
Deferred compensation plan expenses	33	45	231	212
Debt from ESOP	$ 2,400		$ 2,400
Percentage of ESOP in authorized shares			1.00%
Per share price (in Dollars per share)	$ 10		$ 10
Distribution of employee stock ownership plan shares	$ 92	$ 83	$ 176	$ 164
ESOP shares were released and allocated (in Shares)	170,205		170,205		170,205
ESOP shares in suspense (in Shares)	69,795		69,795		69,795
Market price (in Dollars per share)			$ 15.3
Fair value of unearned ESOP shares	$ 1,068		$ 1,068
ESOP Loan [Member]
Benefit Plans [Line Items]
Debt term			10 years
Interest rate	2.79%		2.79%

Investments (Details) - Schedule of Contractual Maturity - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Due to mature:
Amortized Cost, Due to mature One year or less	$ 12,663	$ 9,612
Fair Value, Due to mature One year or less	12,454	9,436
Amortized Cost, Due to mature After one year through five years	64,545	75,794
Fair Value, Due to mature After one year through five years	61,560	72,602
Amortized Cost, Due to mature After five years through ten years	72,035	86,185
Fair Value, Due to mature After five years through ten years	65,882	79,281
Amortized Cost, Due to mature After ten years	44,682	47,806
Fair Value, Due to mature After ten years	40,147	42,620
Amortized Cost, Due to mature Mortgage / asset-backed securities	131,823	152,586
Fair Value, Due to mature Mortgage / asset-backed securities	120,074	139,631
Amortized Cost, Due to mature Redeemable preferred stocks	3,738	4,747
Fair Value, Due to mature Redeemable preferred stocks	3,298	4,161
Amortized Cost, Due to mature, Total fixed income securities	329,486	376,730
Fair Value, Due to mature, Total fixed income securities	$ 303,415	$ 347,731

Reinsurance (Details) - Schedule of Pooling Share Percentages by Insurance Company	Jun. 30, 2024
Effects of Reinsurance [Line Items]
Pool Percentage	100.00%
Nodak Insurance Company [Member]
Effects of Reinsurance [Line Items]
Pool Percentage	66.00%
American West Insurance Company [Member]
Effects of Reinsurance [Line Items]
Pool Percentage	7.00%
Primero Insurance Company [Member]
Effects of Reinsurance [Line Items]
Pool Percentage	3.00%
Battle Creek Mutual Insurance Company [Member]
Effects of Reinsurance [Line Items]
Pool Percentage	2.00%
Direct Auto Insurance Company [Member]
Effects of Reinsurance [Line Items]
Pool Percentage	13.00%
Westminster American Insurance Company [Member]
Effects of Reinsurance [Line Items]
Pool Percentage	9.00%

- Definition

Percentage of investment owned to net assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (13,203)	$ (12,735)
Less net income (loss) from discontinued operations, net of taxes	(1,512)	(11,973)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Net investment gains	(876)	(1,230)
Deferred income tax expense (benefit)	(491)	(3,690)
Depreciation of property and equipment	341	309
Amortization of intangibles		25
Share-based compensation	1,136	901
Amortization of deferred policy acquisition costs	36,107	31,788
Deferral of policy acquisition costs	(40,474)	(35,585)
Net amortization of premiums and discounts on investments	331	523
Gain on sale of property and equipment	(72)	(44)
Changes in operating assets and liabilities:
Premiums and agents’ balances receivable	(36,677)	(43,904)
Reinsurance premiums receivable / payable	(491)	253
Reinsurance recoverables on losses	(2,963)	(2,362)
Accrued investment income	(148)	(152)
Federal Crop Insurance Corporation receivable / payable	3,611	1,430
Other assets	(2,041)	(863)
Unpaid losses and loss adjustment expenses	29,342	23,238
Unearned premiums	31,630	34,754
Income tax recoverable / payable	(8,216)	4,534
Accrued expenses and other liabilities	6,658	8,343
Net cash flows from operating activities – continuing operations	16,707	18,268
Net cash flows from operating activities – discontinued operations	10,493	2,381
Net cash flows from operating activities – loss on sale of discontinued operations	19,251
Total adjustments	46,451	20,649
Net cash flows from operating activities	34,760	19,887
Cash flows from investing activities:
Proceeds from maturities and sales of fixed income securities	15,596	17,213
Proceeds from sales of equity securities	3,827	32,682
Purchases of fixed income securities	(32,239)	(32,365)
Purchases of equity securities	(3,935)	(3,244)
Purchases of property and equipment	(630)	(648)
Proceeds from sales of property and equipment	227	129
Proceeds from disposition of Westminster	10,500
Net cash flows from investing activities – continuing operations	(6,654)	13,767
Net cash flows from investing activities – discontinued operations	2,878	(12,650)
Net cash flows from investing activities	(3,776)	1,117
Cash flows from financing activities:
Purchases of treasury stock		(3,223)
Pooling (payments) receipts	(7,058)	(21,012)
Principal repayments of finance leases	(48)
Issuance of vested award shares	(154)	(174)
Net cash flows from financing activities – continuing operations	(7,260)	(24,409)
Net cash flows from financing activities – discontinued operations	7,058	21,012
Net cash flows from financing activities	(202)	(3,397)
Net change in cash and cash equivalents	30,782	17,607
(Increase) decrease in cash and cash equivalents – discontinued operations	(20,429)	(10,743)
Net increase (decrease) in cash and cash equivalents – continuing operations	10,353	6,864
Cash and cash equivalents at beginning of period – continuing operations	41,037	33,862
Cash and cash equivalents at end of period – continuing operations	51,390	40,726
Federal and state income taxes paid (net of refunds received)	$ 2,848	$ (940)

Royalties, Dividends, and Affiliations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Royalties, Dividends, and Affiliations [Line Items]
Payment of royalties	$ 480	$ 442	$ 883	$ 799
NDFB [Member]
Royalties, Dividends, and Affiliations [Line Items]
Royalty amounts payable accrued	$ 175		$ 175		$ 131

Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Statements of Operations (Unaudited) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
As Reported
Condensed Income Statements, Captions [Line Items]
Loss on sale of discontinued operations, net of taxes	$ (7,762)	$ (7,762)
Net loss	$ (16,236)	$ (9,817)
Loss per common share:
Basic	$ (0.77)	$ (0.47)
Diluted	$ (0.77)	$ (0.47)
Adjustment [Member]
Condensed Income Statements, Captions [Line Items]
Loss on sale of discontinued operations, net of taxes	$ (3,386)	$ (3,386)
Net loss	$ (3,386)	$ (3,386)
Loss per common share:
Basic	$ (0.17)	$ (0.16)
Diluted	$ (0.17)	$ (0.16)
As Restated [Member]
Condensed Income Statements, Captions [Line Items]
Loss on sale of discontinued operations, net of taxes	$ (11,148)	$ (11,148)
Net loss	$ (19,622)	$ (13,203)
Loss per common share:
Basic	$ (0.94)	$ (0.63)
Diluted	$ (0.94)	$ (0.63)

- Definition

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

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

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

+ References

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+ Details

Investments (Details) - Schedule of Gross Unrealized Losses on Fixed Income Securities - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed income securities:
Less than 12 months Fair Value	$ 43,898	$ 32,452
Less than 12 months Unrealized Losses	(586)	(579)
Greater than 12 months Fair Value	211,860	246,744
Greater than 12 months Unrealized Losses	(26,170)	(29,740)
Fair Value, Total	255,758	279,196
Unrealized Losses, Total	(26,756)	(30,319)
Fixed income securities [Member]
Fixed income securities:
Fair Value, Total	255,758	279,196
Unrealized Losses, Total	(26,756)	(30,319)
Fixed income securities [Member] \| U.S. Government and agencies [Member]
Fixed income securities:
Less than 12 months Fair Value	3,212
Less than 12 months Unrealized Losses	(28)
Greater than 12 months Fair Value	6,071	9,018
Greater than 12 months Unrealized Losses	(327)	(736)
Fair Value, Total	9,283	9,018
Unrealized Losses, Total	(355)	(736)
Fixed income securities [Member] \| Obligations of states and political subdivisions [Member]
Fixed income securities:
Less than 12 months Fair Value	9,019	5,239
Less than 12 months Unrealized Losses	(112)	(359)
Greater than 12 months Fair Value	36,207	36,194
Greater than 12 months Unrealized Losses	(4,785)	(4,357)
Fair Value, Total	45,226	41,433
Unrealized Losses, Total	(4,897)	(4,716)
Fixed income securities [Member] \| Corporate securities [Member]
Fixed income securities:
Less than 12 months Fair Value	14,678	8,018
Less than 12 months Unrealized Losses	(240)	(93)
Greater than 12 months Fair Value	91,589	110,117
Greater than 12 months Unrealized Losses	(8,740)	(10,763)
Fair Value, Total	106,267	118,135
Unrealized Losses, Total	(8,980)	(10,856)
Fixed income securities [Member] \| Residential mortgage-backed securities [Member]
Fixed income securities:
Less than 12 months Fair Value	8,535	12,054
Less than 12 months Unrealized Losses	(121)	(104)
Greater than 12 months Fair Value	30,354	33,341
Greater than 12 months Unrealized Losses	(4,940)	(5,275)
Fair Value, Total	38,889	45,395
Unrealized Losses, Total	(5,061)	(5,379)
Fixed income securities [Member] \| Commercial mortgage-backed securities [Member]
Fixed income securities:
Less than 12 months Fair Value	1,928	2,678
Less than 12 months Unrealized Losses	(42)	(5)
Greater than 12 months Fair Value	21,112	23,713
Greater than 12 months Unrealized Losses	(3,282)	(4,236)
Fair Value, Total	23,040	26,391
Unrealized Losses, Total	(3,324)	(4,241)
Fixed income securities [Member] \| Asset-backed securities [Member]
Fixed income securities:
Less than 12 months Fair Value	6,526	4,463
Less than 12 months Unrealized Losses	(43)	(18)
Greater than 12 months Fair Value	23,230	30,200
Greater than 12 months Unrealized Losses	(3,656)	(3,787)
Fair Value, Total	29,756	34,663
Unrealized Losses, Total	(3,699)	(3,805)
Fixed income securities [Member] \| Redeemable preferred stocks [Member]
Fixed income securities:
Less than 12 months Fair Value
Less than 12 months Unrealized Losses
Greater than 12 months Fair Value	3,297	4,161
Greater than 12 months Unrealized Losses	(440)	(586)
Fair Value, Total	3,297	4,161
Unrealized Losses, Total	$ (440)	$ (586)

Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Information [Abstract]

Schedule of Revenue by Insurance Product Line

For the Consolidated Balance Sheets, those items include cash and investments, property and equipment, other assets, accrued expenses and other liabilities, income taxes recoverable or payable, and shareholders’ equity.

	Three Months Ended June 30, 2024
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	23,395		$	26,820		$	24,999		$	13,118		$	3,168		$	91,500
Assumed premiums earned		—			—			—			503			150			653
Ceded premiums earned		(924	)		(77	)		(3,075	)		(2,643	)		(265	)		(6,984	)
Net premiums earned		22,471			26,743			21,924			10,978			3,053			85,169

Direct losses and loss adjustment expenses		20,899			19,313			22,574			8,916			1,648			73,350
Assumed losses and loss adjustment expenses		—			—			—			247			(23	)		224
Ceded losses and loss adjustment expenses		(970	)		—			(548	)		(1,852	)		(846	)		(4,216	)
Net losses and loss adjustment expenses		19,929			19,313			22,026			7,311			779			69,358

Gross margin		2,542			7,430			(102	)		3,667			2,274			15,811

Underwriting and general expenses		6,836			10,261			7,246			1,712			1,464			27,519
Underwriting gain (loss)		(4,294	)		(2,831	)		(7,348	)		1,955			810			(11,708	)

Fee and other income					340												695
					(2,491	)
Net investment income																	2,523
Net investment gains (losses)																	(580	)
Loss before income taxes																	(9,070	)
Income tax expense (benefit)																	(1,592	)
Net loss																	(7,478	)
Net loss attributable to non-controlling interest																	—
Net loss attributable to NI Holdings, Inc.																$	(7,478	)

Operating Ratios:
Loss and loss adjustment expense ratio		88.7%			72.2%			100.5%			66.6%			25.5%			81.4%
Expense ratio		30.4%			38.4%			33.1%			15.6%			48.0%			32.3%
Combined ratio		119.1%			110.6%			133.6%			82.2%			73.5%			113.7%


Balances at June 30, 2024:
Premiums and agents’ balances receivable	$	26,393		$	15,357		$	11,927		$	36,382		$	2,772		$	92,831
Deferred policy acquisition costs		6,719			11,533			9,598			2,120			1,187			31,157
Reinsurance recoverables on losses		930			—			2,726			1,685			4,082			9,423
Receivable from Federal Crop Insurance Corporation		—			—			—			13,793			—			13,793
Goodwill and other intangibles		—			2,728			—			—			—			2,728
Unpaid losses and loss adjustment expenses		33,643			69,951			26,336			8,770			9,827			148,527
Unearned premiums		38,682			36,170			54,147			21,695			7,036			157,730

	Three Months Ended June 30, 2023
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	21,508		$	21,744		$	22,994		$	17,526		$	2,850		$	86,622
Assumed premiums earned		—			—			—			501			326			827
Ceded premiums earned		(965	)		(99	)		(2,580	)		(4,691	)		(279	)		(8,614	)
Net premiums earned		20,543			21,645			20,414			13,336			2,897			78,835

Direct losses and loss adjustment expenses		18,456			14,139			18,414			12,702			2,500			66,211
Assumed losses and loss adjustment expenses		—			—			—			—			67			67
Ceded losses and loss adjustment expenses		411			—			(499	)		(4,492	)		(1,621	)		(6,201	)
Net losses and loss adjustment expenses		18,867			14,139			17,915			8,210			946			60,077

Gross margin		1,676			7,506			2,499			5,126			1,951			18,758

Underwriting and general expenses		5,796			8,730			6,194			2,683			856			24,259
Underwriting gain (loss)		(4,120	)		(1,224	)		(3,695	)		2,443			1,095			(5,501	)

Fee and other income					239												490
					(985	)
Net investment income																	1,923
Net investment gains (losses)																	(173	)
Loss before income taxes																	(3,261	)
Income tax expense (benefit)																	(685	)
Net loss																	(2,576	)
Net loss attributable to non-controlling interest																	(113	)
Net loss attributable to NI Holdings, Inc.																$	(2,463	)

Operating Ratios:
Loss and loss adjustment expense ratio		91.8%			65.3%			87.8%			61.6%			32.7%			76.2%
Expense ratio		28.3%			40.3%			30.3%			20.0%			29.5%			30.9%
Combined ratio		120.1%			105.6%			118.1%			81.6%			62.2%			107.1%


Balances at June 30, 2023:
Premiums and agents’ balances receivable	$	23,840		$	10,322		$	9,793		$	44,950		$	2,344		$	91,249
Deferred policy acquisition costs		5,785			8,870			7,974			2,832			1,009			26,470
Reinsurance recoverables on losses		727			—			4,691			3,114			2,416			10,948
Receivable from Federal Crop Insurance Corporation		—			—			—			14,032			—			14,032
Goodwill and other intangibles		—			2,736			—			—			—			2,736
Unpaid losses and loss adjustment expenses		31,935			52,866			30,503			11,603			10,628			137,535
Unearned premiums		35,317			28,067			48,690			27,193			6,412			145,679

	Six Months Ended June 30, 2024
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	46,619		$	51,878		$	49,244		$	12,915		$	6,243		$	166,899
Assumed premiums earned		—			—			—			503			301			804
Ceded premiums earned		(2,046	)		(147	)		(5,905	)		(3,989	)		(563	)		(12,650	)
Net premiums earned		44,573			51,731			43,339			9,429			5,981			155,053

Direct losses and loss adjustment expenses		32,308			36,182			35,356			6,955			4,068			114,869
Assumed losses and loss adjustment expenses		—			—			—			247			22			269
Ceded losses and loss adjustment expenses		(1,086	)		—			(1,149	)		(1,448	)		(1,953	)		(5,636	)
Net losses and loss adjustment expenses		31,222			36,182			34,207			5,754			2,137			109,502

Gross margin		13,351			15,549			9,132			3,675			3,844			45,551

Underwriting and general expenses		13,857			20,565			13,943			1,711			2,965			53,041
Underwriting gain (loss)		(506	)		(5,016	)		(4,811	)		1,964			879			(7,490	)

Fee and other income					690												1,099
					(4,326	)
Net investment income																	5,278
Net investment gains (losses)																	876
Loss before income taxes																	(237	)
Income tax expense (benefit)																	306
Net loss																	(543	)
Net loss attributable to non-controlling interest																	—
Net loss attributable to NI Holdings, Inc.																$	(543	)

Operating Ratios:
Loss and loss adjustment expense ratio		70.0%			69.9%			78.9%			61.0%			35.7%			70.6%
Expense ratio		31.1%			39.8%			32.2%			18.1%			49.6%			34.2%
Combined ratio		101.1%			109.7%			111.1%			79.1%			85.3%			104.8%

	Six Months Ended June 30, 2023
	Private Passenger Auto			Non-Standard Auto			Home and Farm			Crop			All Other			Total
Direct premiums earned	$	42,050		$	42,716		$	45,426		$	17,516		$	5,584		$	153,292
Assumed premiums earned		—			—			—			501			902			1,403
Ceded premiums earned		(1,853	)		(192	)		(5,021	)		(5,405	)		(518	)		(12,989	)
Net premiums earned		40,197			42,524			40,405			12,612			5,968			141,706

Direct losses and loss adjustment expenses		34,081			31,177			27,937			12,032			2,937			108,164
Assumed losses and loss adjustment expenses		—			—			—			—			157			157
Ceded losses and loss adjustment expenses		412			—			(1,303	)		(4,597	)		(1,631	)		(7,119	)
Net losses and loss adjustment expenses		34,493			31,177			26,634			7,435			1,463			101,202

Gross margin		5,704			11,347			13,771			5,177			4,505			40,504

Underwriting and general expenses		12,279			17,791			12,464			2,715			1,815			47,064
Underwriting gain (loss)		(6,575	)		(6,444	)		1,307			2,462			2,690			(6,560	)

Fee and other income					471												751
					(5,973	)
Net investment income																	3,614
Net investment gains (losses)																	1,230
Loss before income taxes																	(965	)
Income tax expense (benefit)																	(203	)
Net loss																	(762	)
Net loss attributable to non-controlling interest																	(403	)
Net loss attributable to NI Holdings, Inc.																$	(359	)

Operating Ratios:
Loss and loss adjustment expense ratio		85.8%			73.3%			65.9%			59.0%			24.5%			71.4%
Expense ratio		30.5%			41.8%			30.8%			21.5%			30.4%			33.2%
Combined ratio		116.3%			115.1%			96.7%			80.5%			54.9%			104.6%

Unpaid Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Unpaid Losses and Loss Adjustment Expenses [Abstract]

Schedule of Activity in the Liability for Unpaid Losses and Loss Adjustment Expenses

Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows for both continuing and discontinued operations:

	Six Months Ended June 30,
	2024		2023
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses	$	217,119	$	190,459
Reinsurance recoverables on losses		48,969		37,575
Net balance, beginning of period		168,150		152,884

Incurred related to:
Current year		125,235		126,854
Prior years		7,773		9,477
Total incurred		133,008		136,331

Paid related to:
Current year		45,494		50,010
Prior years		54,372		60,675
Total paid		99,866		110,685

Westminster balances disposed in sale:
Liability for unpaid losses and loss adjustment expenses		107,508		—
Reinsurance recoverables on losses		45,320		—
Net balance, end of period		62,188		—

Balance, end of period:
Liability for unpaid losses and loss adjustment expenses		148,527		232,038
Reinsurance recoverables on losses		9,423		53,508
Net balance, end of period	$	139,104	$	178,530

	Six Months Ended June 30,
	2024		2023
Continuing operations:
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses	$	119,185	$	114,296
Reinsurance recoverables on losses		6,460		8,586
Net balance, beginning of period		112,725		105,710

Incurred related to:
Current year		101,120		100,574
Prior years		8,382		628
Total incurred		109,502		101,202

Paid related to:
Current year		39,930		41,857
Prior years		43,193		38,468
Total paid		83,123		80,325

Balance, end of period:
Liability for unpaid losses and loss adjustment expenses		148,527		137,535
Reinsurance recoverables on losses		9,423		10,948
Net balance, end of period	$	139,104	$	126,587

	Six Months Ended June 30,
	2024			2023
Discontinued operations:
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses	$	97,934		$	76,163
Reinsurance recoverables on losses		42,509			28,989
Net balance, beginning of period		55,425			47,174

Incurred related to:
Current year		24,115			26,280
Prior years		(609	)		8,849
Total incurred		23,506			35,129

Paid related to:
Current year		5,564			8,153
Prior years		11,179			22,207
Total paid		16,743			30,360

Balance, end of period:
Liability for unpaid losses and loss adjustment expenses		107,508			94,503
Reinsurance recoverables on losses		45,320			42,560
Net balance, end of period	$	62,188		$	51,943

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Measurements [Abstract]

Schedule of Continuing and Discontinued Operations Assets

The following tables, presented on a consolidated basis, including both continuing and discontinued operations, set forth our assets which are measured on a recurring basis by the level within the fair value hierarchy in which fair value measurements fall:

	June 30, 2024
	Total		Level 1		Level 2		Level 3
Fixed income securities:
U.S. Government and agencies	$	11,741	$	—	$	11,741	$	—
Obligations of states and political subdivisions		51,862		—		51,862		—
Corporate securities		116,440		—		116,440		—
Residential mortgage-backed securities		43,903		—		43,903		—
Commercial mortgage-backed securities		25,038		—		25,038		—
Asset-backed securities		51,133		—		51,133		—
Redeemable preferred stock		3,298		—		3,298		—
Total fixed income securities		303,415		—		303,415		—

Equity securities:
Common stock		22,973		22,973		—		—
Non-redeemable preferred stock		—		—		—		—
Total equity securities		22,973		22,973		—		—

Money market accounts and cash equivalents		18,108		18,108		—		—
Total assets at fair value	$	344,496	$	41,081	$	303,415	$	—

	December 31, 2023
	Total		Level 1		Level 2		Level 3
Fixed income securities:
U.S. Government and agencies	$	10,262	$	—	$	10,262	$	—
Obligations of states and political subdivisions		51,461		—		51,461		—
Corporate securities		142,216		—		142,216		—
Residential mortgage-backed securities		61,163		—		61,163		—
Commercial mortgage-backed securities		29,439		—		29,439		—
Asset-backed securities		49,029		—		49,029		—
Redeemable preferred stock		4,161		—		4,161		—
Total fixed income securities		347,731		—		347,731		—

Equity securities:
Common stock		25,890		25,890		—		—
Non-redeemable preferred stock		1,877		1,877		—		—
Total equity securities		27,767		27,767		—		—

Money market accounts and cash equivalents		25,596		19,412		6,184		—
Total assets at fair value	$	401,094	$	47,179	$	353,915	$	—

Schedule of Continuing and Discontinued Operations Assets

The following tables are a reconciliation for both continuing and discontinued operations of the presentation of our assets which are measured on a recurring basis by the level within the fair value hierarchy in which fair value measurements fall:

	June 30, 2024
	Total		Level 1		Level 2		Level 3
Fixed income securities:
Continuing operations	$	303,415	$	—	$	303,415	$	—
Discontinued operations		—		—		—		—
Total fixed income securities		303,415		—		303,415		—

Equity securities:
Continuing operations		22,973		22,973		—		—
Discontinued operations		—		—		—		—
Total equity securities		22,973		22,973		—		—

Money market accounts and cash equivalents
Continuing operations		18,108		18,108		—		—
Discontinued operations		—		—		—		—
Total money market accounts and cash equivalents		18,108		18,108		—		—
Total assets at fair value	$	344,496	$	41,081	$	303,415	$	—

	December 31, 2023
	Total		Level 1		Level 2		Level 3
Fixed income securities:
Continuing operations	$	289,399	$	—	$	289,399	$	—
Discontinued operations		58,332		—		58,332		—
Total fixed income securities		347,731		—		347,731		—

Equity securities:
Continuing operations		21,983		21,983		—		—
Discontinued operations		5,784		5,784		—		—
Total equity securities		27,767		27,767		—		—

Money market accounts and cash equivalents
Continuing operations		16,239		16,239		—		—
Discontinued operations		9,357		3,173		6,184		—
Total money market accounts and cash equivalents		25,596		19,412		6,184		—
Total assets at fair value	$	401,094	$	47,179	$	353,915	$	—

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents	$ 51,390	$ 41,037
Fixed income securities, at fair value (net of allowance for expected credit losses of $0 at June 30, 2024 and December 31, 2023)	303,415	289,399
Equity securities, at fair value	22,973	21,983
Other investments	2,006	2,006
Total cash and investments	379,784	354,425
Premiums and agents' balances receivable (net of allowance for expected credit losses of $348 at June 30, 2024 and $394 at December 31, 2023)	92,831	56,154
Deferred policy acquisition costs	31,157	26,790
Reinsurance premiums receivable (payable)		(1,403)
Reinsurance recoverables on losses (net of allowance for expected credit losses of $0 at June 30, 2024 and December 31, 2023)	9,423	6,460
Income tax recoverable	8,069
Accrued investment income	2,473	2,325
Property and equipment, net	7,586	7,452
Deferred income taxes	10,236	9,228
Receivable from Federal Crop Insurance Corporation	13,793	17,404
Goodwill and other intangibles	2,728	2,728
Other assets	12,907	10,866
Assets of discontinued operations		162,457
Total assets	570,987	654,886
Liabilities:
Unpaid losses and loss adjustment expenses	148,527	119,185
Unearned premiums	157,730	126,100
Reinsurance premiums payable	912
Income tax payable		147
Accrued expenses and other liabilities	27,754	17,758
Liabilities of discontinued operations		141,297
Total liabilities	334,923	404,487
Shareholders’ equity:
Common stock, $0.01 par value, authorized: 25,000,000 shares; issued: 23,000,000 shares; and outstanding: 2024 – 20,648,642 shares, 2023 – 20,599,908 shares	230	230
Additional paid-in capital	96,581	96,294
Unearned employee stock ownership plan shares	(698)	(698)
Retained earnings	194,441	208,376
Accumulated other comprehensive loss, net of income taxes	(20,192)	(21,384)
Treasury stock, at cost, 2024 – 2,281,563 shares, 2023 – 2,330,297 shares	(34,298)	(35,177)
Non-controlling interest		2,758
Total shareholders’ equity	236,064	250,399
Total liabilities and shareholders’ equity	$ 570,987	$ 654,886

Allowance for Expected Credit Losses (Tables)

6 Months Ended

Jun. 30, 2024

Allowance for Expected Credit Losses [Abstract]

Schedule of Allowance for Expected Credit Losses

The following table presents the balances of premiums and agents’ balances receivable, net of the allowance for expected credit losses as of June 30, 2024, and the changes in the allowance for expected credit losses for the three and six months ended June 30, 2024 for continuing and discontinued operations.

	As of and For the Three Months Ended June 30, 2024					As of and For the Three Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Continuing operations:
Balance, beginning of period	$	59,979	$	216		$	49,587	$	437

Current period charge for expected credit losses				251					187
Write-offs of uncollectible premiums receivable				(119	)				(198	)

Balance, end of period	$	92,831	$	348		$	91,249	$	426

	As of and For the Six Months Ended June 30, 2024					As of and For the Six Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Continuing operations:
Balance, beginning of period	$	56,154	$	394		$	47,346	$	417

Current period charge for expected credit losses				132					274
Write-offs of uncollectible premiums receivable				(178	)				(265	)

Balance, end of period	$	92,831	$	348		$	91,249	$	426

	As of and For the Three Months Ended June 30, 2024					As of and For the Three Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Discontinued operations:
Balance, beginning of period	$	19,727	$	8		$	14,915	$	8

Current period charge for expected credit losses				2					2
Write-offs of uncollectible premiums receivable				(2	)				(2	)

Balance, end of period	$	16,030	$	8		$	15,697	$	8

	As of and For the Six Months Ended June 30, 2024					As of and For the Six Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Discontinued operations:
Balance, beginning of period	$	17,904	$	8		$	14,827	$	8

Current period charge for expected credit losses				4					4
Write-offs of uncollectible premiums receivable				(4	)				(4	)

Balance, end of period	$	16,030	$	8		$	15,697	$	8

Share-Based Compensation (Details) - Schedule of PSU Activity - PSU [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of PSU Activity [Line Items]
PSU compensation expense	$ 184	$ 139	$ 369	$ 277
Income tax benefit	(42)	(32)	(84)	(63)
PSU compensation expense, net of income taxes	$ 142	$ 107	$ 285	$ 214

- 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
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-Name Accounting Standards Codification
-Section 35
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Other Intangibles (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Other Intangibles [Abstract]

Schedule of Goodwill by Segment

The following table presents, on a consolidated basis, including both continuing and discontinued operations, the carrying amount of the Company’s goodwill and related impairment by segment:

	Six Months Ended June 30, 2024								Year Ended December 31, 2023
	Non-Standard Auto		Commercial			Total			Non-Standard Auto		Commercial			Total
Goodwill, original recorded value	$	2,628	$	6,756		$	9,384		$	2,628	$	6,756		$	9,384
Accumulated impairment losses at the beginning of the period		—		(6,756	)		(6,756	)		—		—			—
Goodwill, beginning of period		2,628		—			2,628			2,628		6,756			9,384
Impairment recognized during the period		—		—			—			—		(6,756	)		(6,756	)
Goodwill, end of period	$	2,628	$	—		$	2,628		$	2,628	$	—		$	2,628

Schedule of Other Intangible Assets

The following table presents on a consolidated basis, including both continuing and discontinued operations, the carrying amount of the Company’s other intangible assets:

June 30, 2024	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Trade names	$	248	$	248	$	—
Distribution network		—		—		—
Total subject to amortization		248		248		—
Not subject to amortization:
State insurance licenses		100		—		100
Total	$	348	$	248	$	100

December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Trade names	$	748	$	448	$	300
Distribution network		6,700		1,489		5,211
Total subject to amortization		7,448		1,937		5,511
Not subject to amortization:
State insurance licenses		1,900		—		1,900
Total	$	9,348	$	1,937	$	7,411

June 30, 2024	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Continuing operations	$	248	$	248	$	—
Discontinued operations		—		—		—
Total subject to amortization		248		248		—

Not subject to amortization
Continuing operations		100		—		100
Discontinued operations		—		—		—
Total not subject to amortization		348		248		100

December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Continuing operations	$	248	$	248	$	—
Discontinued operations		7,200		1,689		5,511
Total subject to amortization		7,448		1,937		5,511

Not subject to amortization
Continuing operations		100		—		100
Discontinued operations		1,800		—		1,800
Total not subject to amortization		9,348		1,937		7,411

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

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+ Details

Income Taxes (As Restated) (Details) - USD ($)	6 Months Ended
Income Taxes (As Restated) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Income Taxes [Line Items]
Operating loss carryforwards	$ 346
Unrecognized tax benefits
Unrecognized accrued interest and penalties
Interest and penalties were recognized
Federal income tax effective rate	21.10%
Continuing Operations [Member]
Income Taxes [Line Items]
Federal income tax effective rate	34.00%

Deferred Policy Acquisition Costs (Details) - Schedule of Deferred Policy Acquisition Costs and Asset Reconciliation - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period	$ 36,565	$ 31,350	$ 34,120	$ 29,768
Deferral of policy acquisition costs	25,962	23,353	49,070	43,523
Amortization of deferred policy acquisition costs	(23,372)	(20,579)	(44,035)	(39,167)
Westminster balance disposed in sale	(7,998)		(7,998)
Balance, end of period	31,157	34,124	31,157	34,124
Continuing Operations [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period	28,948	24,210	26,790	22,675
Deferral of policy acquisition costs	21,499	19,046	40,474	35,585
Amortization of deferred policy acquisition costs	(19,290)	(16,784)	(36,107)	(31,788)
Balance, end of period	31,157	26,472	31,157	26,472
Discontinued Operations [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance, beginning of period	7,617	7,140	7,330	7,093
Deferral of policy acquisition costs	4,464	4,307	8,596	7,938
Amortization of deferred policy acquisition costs	(4,083)	(3,795)	(7,928)	(7,379)
Balance, end of period	$ 7,998	$ 7,652	$ 7,998	$ 7,652

Share-Based Compensation (Details) - Schedule of RSU Activity - RSU [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of RSU Activity [Line Items]
RSU compensation expense	$ 371	$ 257	$ 767	$ 559
Income tax benefit	(84)	(58)	(174)	(127)
RSU compensation expense, net of income taxes	$ 287	$ 199	$ 593	$ 432

Organization (Details) - Nodak Insurance [Member] - $ / shares	6 Months Ended
	Jun. 30, 2024	Jan. 02, 2024
Organization [Line Items]
Percentage of shares exchanged	55.00%
Ownership percentage	100.00%
Issuance of common stock (in Shares)		300,000
Par value per share (in Dollars per share)		$ 10

Segment Information (Details) - Schedule of Revenue by Insurance Product Line - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule of Revenue by Insurance Product Line [Line Items]
Direct premiums earned	$ 91,500	$ 86,622	$ 166,899	$ 153,292
Assumed premiums earned	653	827	804	1,403
Ceded premiums earned	(6,984)	(8,614)	(12,650)	(12,989)
Net premiums earned	85,169	78,835	155,053	141,706
Direct losses and loss adjustment expenses	73,350	66,211	114,869	108,164
Assumed losses and loss adjustment expenses	224	67	269	157
Ceded losses and loss adjustment expenses	(4,216)	(6,201)	(5,636)	(7,119)
Net losses and loss adjustment expenses	69,358	60,077	109,502	101,202
Gross margin	15,811	18,758	45,551	40,504
Underwriting and general expenses	27,519	24,259	53,041	47,064
Underwriting gain (loss)	(11,708)	(5,501)	(7,490)	(6,560)
Fee and other income	695	490	1,099	751
Net investment income	2,523	1,923	5,278	3,614
Net investment gains (losses)	(580)	(173)	876	1,230
Loss before income taxes	(9,070)	(3,261)	(237)	(965)
Income tax expense (benefit)	(1,592)	(685)	306	(203)
Net income (loss)	(7,478)	(2,576)	(543)	(762)
Net loss attributable to non-controlling interest		(113)		(403)
Net loss attributable to NI Holdings, Inc.	$ (7,478)	$ (2,463)	$ (543)	$ (359)
Operating Ratios:
Loss and loss adjustment expense ratio	81.40%	76.20%	70.60%	71.40%
Expense ratio	32.30%	30.90%	34.20%	33.20%
Combined ratio	113.70%	107.10%	104.80%	104.60%
Balances at June 30, 2024:
Premiums and agents’ balances receivable	$ 92,831	$ 91,249	$ 92,831	$ 91,249
Deferred policy acquisition costs	31,157	26,470
Reinsurance recoverables on losses	9,423	10,948	9,423	10,948	$ 6,460
Receivable from Federal Crop Insurance Corporation	13,793	14,032	13,793	14,032
Goodwill and other intangibles	2,728	2,736	2,728	2,736	2,728
Unpaid losses and loss adjustment expenses	148,527	137,535	148,527	137,535	119,185
Unearned premiums	157,730	145,679	157,730	145,679	$ 126,100
Private Passenger Auto [Member]
Schedule of Revenue by Insurance Product Line [Line Items]
Direct premiums earned	23,395	21,508	46,619	42,050
Assumed premiums earned
Ceded premiums earned	(924)	(965)	(2,046)	(1,853)
Net premiums earned	22,471	20,543	44,573	40,197
Direct losses and loss adjustment expenses	20,899	18,456	32,308	34,081
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses	(970)	411	(1,086)	412
Net losses and loss adjustment expenses	19,929	18,867	31,222	34,493
Gross margin	2,542	1,676	13,351	5,704
Underwriting and general expenses	6,836	5,796	13,857	12,279
Underwriting gain (loss)	$ (4,294)	$ (4,120)	$ (506)	$ (6,575)
Operating Ratios:
Loss and loss adjustment expense ratio	88.70%	91.80%	70.00%	85.80%
Expense ratio	30.40%	28.30%	31.10%	30.50%
Combined ratio	119.10%	120.10%	101.10%	116.30%
Balances at June 30, 2024:
Premiums and agents’ balances receivable	$ 26,393	$ 23,840	$ 26,393	$ 23,840
Deferred policy acquisition costs	6,719	5,785
Reinsurance recoverables on losses	930	727	930	727
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	33,643	31,935	33,643	31,935
Unearned premiums	38,682	35,317	38,682	35,317
Non-Standard Auto [Member]
Schedule of Revenue by Insurance Product Line [Line Items]
Direct premiums earned	26,820	21,744	51,878	42,716
Assumed premiums earned
Ceded premiums earned	(77)	(99)	(147)	(192)
Net premiums earned	26,743	21,645	51,731	42,524
Direct losses and loss adjustment expenses	19,313	14,139	36,182	31,177
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses
Net losses and loss adjustment expenses	19,313	14,139	36,182	31,177
Gross margin	7,430	7,506	15,549	11,347
Underwriting and general expenses	10,261	8,730	20,565	17,791
Underwriting gain (loss)	(2,831)	(1,224)	(5,016)	(6,444)
Fee and other income	340	239	690	471
Total	$ (2,491)	$ (985)	$ (4,326)	$ (5,973)
Operating Ratios:
Loss and loss adjustment expense ratio	72.20%	65.30%	69.90%	73.30%
Expense ratio	38.40%	40.30%	39.80%	41.80%
Combined ratio	110.60%	105.60%	109.70%	115.10%
Balances at June 30, 2024:
Premiums and agents’ balances receivable	$ 15,357	$ 10,322	$ 15,357	$ 10,322
Deferred policy acquisition costs	11,533	8,870
Reinsurance recoverables on losses
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles	2,728	2,736	2,728	2,736
Unpaid losses and loss adjustment expenses	69,951	52,866	69,951	52,866
Unearned premiums	36,170	28,067	36,170	28,067
Home and Farm [Member]
Schedule of Revenue by Insurance Product Line [Line Items]
Direct premiums earned	24,999	22,994	49,244	45,426
Assumed premiums earned
Ceded premiums earned	(3,075)	(2,580)	(5,905)	(5,021)
Net premiums earned	21,924	20,414	43,339	40,405
Direct losses and loss adjustment expenses	22,574	18,414	35,356	27,937
Assumed losses and loss adjustment expenses
Ceded losses and loss adjustment expenses	(548)	(499)	(1,149)	(1,303)
Net losses and loss adjustment expenses	22,026	17,915	34,207	26,634
Gross margin	(102)	2,499	9,132	13,771
Underwriting and general expenses	7,246	6,194	13,943	12,464
Underwriting gain (loss)	$ (7,348)	$ (3,695)	$ (4,811)	$ 1,307
Operating Ratios:
Loss and loss adjustment expense ratio	100.50%	87.80%	78.90%	65.90%
Expense ratio	33.10%	30.30%	32.20%	30.80%
Combined ratio	133.60%	118.10%	111.10%	96.70%
Balances at June 30, 2024:
Premiums and agents’ balances receivable	$ 11,927	$ 9,793	$ 11,927	$ 9,793
Deferred policy acquisition costs	9,598	7,974
Reinsurance recoverables on losses	2,726	4,691	2,726	4,691
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	26,336	30,503	26,336	30,503
Unearned premiums	54,147	48,690	54,147	48,690
Crop [Member]
Schedule of Revenue by Insurance Product Line [Line Items]
Direct premiums earned	13,118	17,526	12,915	17,516
Assumed premiums earned	503	501	503	501
Ceded premiums earned	(2,643)	(4,691)	(3,989)	(5,405)
Net premiums earned	10,978	13,336	9,429	12,612
Direct losses and loss adjustment expenses	8,916	12,702	6,955	12,032
Assumed losses and loss adjustment expenses	247		247
Ceded losses and loss adjustment expenses	(1,852)	(4,492)	(1,448)	(4,597)
Net losses and loss adjustment expenses	7,311	8,210	5,754	7,435
Gross margin	3,667	5,126	3,675	5,177
Underwriting and general expenses	1,712	2,683	1,711	2,715
Underwriting gain (loss)	$ 1,955	$ 2,443	$ 1,964	$ 2,462
Operating Ratios:
Loss and loss adjustment expense ratio	66.60%	61.60%	61.00%	59.00%
Expense ratio	15.60%	20.00%	18.10%	21.50%
Combined ratio	82.20%	81.60%	79.10%	80.50%
Balances at June 30, 2024:
Premiums and agents’ balances receivable	$ 36,382	$ 44,950	$ 36,382	$ 44,950
Deferred policy acquisition costs	2,120	2,832
Reinsurance recoverables on losses	1,685	3,114	1,685	3,114
Receivable from Federal Crop Insurance Corporation	13,793	14,032	13,793	14,032
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	8,770	11,603	8,770	11,603
Unearned premiums	21,695	27,193	21,695	27,193
All Other [Member]
Schedule of Revenue by Insurance Product Line [Line Items]
Direct premiums earned	3,168	2,850	6,243	5,584
Assumed premiums earned	150	326	301	902
Ceded premiums earned	(265)	(279)	(563)	(518)
Net premiums earned	3,053	2,897	5,981	5,968
Direct losses and loss adjustment expenses	1,648	2,500	4,068	2,937
Assumed losses and loss adjustment expenses	(23)	67	22	157
Ceded losses and loss adjustment expenses	(846)	(1,621)	(1,953)	(1,631)
Net losses and loss adjustment expenses	779	946	2,137	1,463
Gross margin	2,274	1,951	3,844	4,505
Underwriting and general expenses	1,464	856	2,965	1,815
Underwriting gain (loss)	$ 810	$ 1,095	$ 879	$ 2,690
Operating Ratios:
Loss and loss adjustment expense ratio	25.50%	32.70%	35.70%	24.50%
Expense ratio	48.00%	29.50%	49.60%	30.40%
Combined ratio	73.50%	62.20%	85.30%	54.90%
Balances at June 30, 2024:
Premiums and agents’ balances receivable	$ 2,772	$ 2,344	$ 2,772	$ 2,344
Deferred policy acquisition costs	1,187	1,009
Reinsurance recoverables on losses	4,082	2,416	4,082	2,416
Receivable from Federal Crop Insurance Corporation
Goodwill and other intangibles
Unpaid losses and loss adjustment expenses	9,827	10,628	9,827	10,628
Unearned premiums	$ 7,036	$ 6,412	$ 7,036	$ 6,412

Deferred Policy Acquisition Costs

6 Months Ended

Jun. 30, 2024

Deferred Policy Acquisition Costs [Abstract]

Deferred Policy Acquisition Costs

Deferred Policy Acquisition Costs

Expenses directly related to successfully acquired insurance policies, primarily commissions, premium taxes and underwriting costs, are deferred and amortized over the terms of the policies. We update our acquisition cost assumptions periodically to reflect actual experience, and we evaluate the costs for recoverability. The table below, presented on a consolidated basis, including both continuing and discontinued operations, shows the deferred policy acquisition costs and asset reconciliation:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Balance, beginning of period	$	36,565		$	31,350		$	34,120		$	29,768
Deferral of policy acquisition costs		25,962			23,353			49,070			43,523
Amortization of deferred policy acquisition costs		(23,372	)		(20,579	)		(44,035	)		(39,167	)
Westminster balance disposed in sale		(7,998	)		—			(7,998	)		—
Balance, end of period	$	31,157		$	34,124		$	31,157		$	34,124

The tables for current and prior year continuing and discontinued operations showing the deferred policy acquisition costs and assets reconciliation are shown below:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Continuing operations:
Balance, beginning of period	$	28,948		$	24,210		$	26,790		$	22,675
Deferral of policy acquisition costs		21,499			19,046			40,474			35,585
Amortization of deferred policy acquisition costs		(19,290	)		(16,784	)		(36,107	)		(31,788	)
Balance, end of period	$	31,157		$	26,472		$	31,157		$	26,472

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Discontinued operations:
Balance, beginning of period	$	7,617		$	7,140		$	7,330		$	7,093
Deferral of policy acquisition costs		4,464			4,307			8,596			7,938
Amortization of deferred policy acquisition costs		(4,083	)		(3,795	)		(7,928	)		(7,379	)
Balance, end of period	$	7,998		$	7,652		$	7,998		$	7,652

Common and Preferred Stock (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 09, 2022
Common and Preferred Stock [Line Items]
Weighted average excluded from net loss per diluted common shares	127,108	61,935	120,206	61,614
Shares repurchased				238,164
Excise tax percentage	1.00%		1.00%
Remains authorization (in Dollars)	$ 2,052		$ 2,052
Board of Directors [Member]
Common and Preferred Stock [Line Items]
Stock repurchase program, authorized amount (in Dollars)					$ 10,000
Common Stock [Member]
Common and Preferred Stock [Line Items]
Shares repurchased
Repurchased value (in Dollars)				$ 3,223

- 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/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

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

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

- 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

Leases (Details) - Schedule of Contractual Maturities of Operating Leases $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
Operating Leases - 2024 (nine months remaining)	$ 196
Finance Leases - 2024 (nine months remaining)	60
Lease liability - 2024 (nine months remaining)	256
Operating Leases - 2025	393
Finance Leases - 2025	120
Lease liability - 2025	512
Operating Leases - 2026	396
Finance Leases - 2026	100
Lease liability - 2026	497
Operating Leases - 2027	401
Finance Leases - 2027
Lease liability - 2027	401
Operating Leases - 2028	376
Finance Leases - 2028
Lease liability - 2028	376
Operating Leases - Thereafter	212
Finance Leases - Thereafter
Lease liability - Thereafter	212
Operating Leases - Total undiscounted lease payments	1,974
Finance Leases - Total undiscounted lease payments	280
Lease liability - Total undiscounted lease payments	2,254
Operating Leases - Less: present value adjustment	193
Finance Leases - Less: present value adjustment	26
Lease liability - Less: present value adjustment	218
Operating Leases - Lease liability at June 30, 2024	1,781
Finance Leases - Lease liability at June 30, 2024	254
Lease liability at June 30, 2024	$ 2,036

Basis of Presentation and Accounting Policies (As Restated) (Details) - Schedule of Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
As Reported [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net income (loss)	$ (16,236)	$ (9,817)
Net cash flows from operating activities – loss on sale of discontinued operations		15,865
Total adjustments		43,065
Adjustment [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net income (loss)	(3,386)	(3,386)
Net cash flows from operating activities – loss on sale of discontinued operations		3,386
Total adjustments		3,386
As Restated [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net income (loss)	$ (19,622)	(13,203)
Net cash flows from operating activities – loss on sale of discontinued operations		19,251
Total adjustments		$ 46,451

- Definition

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

+ References

+ Details

Investments (Details) - Schedule of continuing and discontinued operations by duration of the Company’s gross unrealized losses on fixed income - Fixed Income Securities [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fixed income securities:
Fair Value Total	$ 255,758	$ 279,196
Unrealized Losses Total	(26,756)	(30,319)
Continuing Operations [Member]
Fixed income securities:
Fair Value Total	255,758	235,416
Unrealized Losses Total	(26,756)	(24,899)
Discontinued Operations [Member]
Fixed income securities:
Fair Value Total		43,780
Unrealized Losses Total		(5,420)
Less Than Twelve Months [Member]
Fixed income securities:
Fair Value	43,898	32,452
Unrealized Losses	(586)	(579)
Less Than Twelve Months [Member] \| Continuing Operations [Member]
Fixed income securities:
Fair Value	43,898	24,049
Unrealized Losses	(586)	(509)
Less Than Twelve Months [Member] \| Discontinued Operations [Member]
Fixed income securities:
Fair Value		8,403
Unrealized Losses		(70)
Greater Than Twelve Months [Member]
Fixed income securities:
Fair Value	211,860	246,744
Unrealized Losses	(26,170)	(29,740)
Greater Than Twelve Months [Member] \| Continuing Operations [Member]
Fixed income securities:
Fair Value	211,860	211,367
Unrealized Losses	(26,170)	(24,390)
Greater Than Twelve Months [Member] \| Discontinued Operations [Member]
Fixed income securities:
Fair Value		35,377
Unrealized Losses		$ (5,350)

Segment Information (Details)	6 Months Ended
Segment Information (Details)	Jun. 30, 2024
Segment Information [Abstract]
Reportable operating segments	5

Discontinued Operations (As Restated)

6 Months Ended

Jun. 30, 2024

Discontinued Operations [Abstract]

Discontinued Operations (As Restated)

19.

Discontinued Operations (As Restated)

On May 7, 2024, we entered into a definitive agreement to sell our subsidiary, Westminster, to Scott Insurance Holdings, for a cash purchase price of $10,500, as well as a $1,772 post-closing adjustment pursuant to the purchase agreement, for a net amount of $12,272. The sale closed on June 30, 2024, and we reported an after-tax loss on the sale of discontinued operations of $11,148. For additional information see Part I, Item 1, Note 2 “Basis of Presentation and Accounting Policies” of this Form 10-Q/A.

The assets and liabilities associated with discontinued operations prior to the closing of the sale have been presented separately in our Consolidated Balance Sheets. The Company’s Consolidated Statements of Cash Flows presents operating, investing, and financing cash flows of the discontinued operations separately. The major assets and liability categories were as follows as of the dates indicated:

	June 30, 2024		December 31, 2023
Assets:
Cash and cash equivalents	$	—	$	15,656
Fixed income securities, at fair value		—		58,332
Equity securities, at fair value		—		5,784
Total cash and investments		—		79,772

Premiums and agents’ balances receivable		—		17,904
Deferred policy acquisition costs		—		7,330
Reinsurance premiums receivable		—		5,464
Reinsurance recoverables on losses		—		42,509
Accrued investment income		—		438
Property and equipment, net		—		2,445
Deferred income taxes		—		(815	)
Goodwill and other intangibles		—		7,311
Other assets		—		99
Total assets of discontinued operations	$	—	$	162,457

Liabilities:
Unpaid losses and loss adjustment expenses	$	—	$	97,934
Unearned premiums		—		38,000
Income tax payable (receivable)		—		(59	)
Accrued expenses and other liabilities		—		5,422
Total liabilities of discontinued operations	$	—	$	141,297

Summary operating results of discontinued operations were as follows for the periods indicated:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Revenues:
Net premiums earned	$	15,383		$	15,311		$	31,056		$	30,067
Fee and other income		7			9			14			22
Net investment income		621			582			1,419			1,130
Net investment gains (losses)		(256	)		(1	)		116			12
Total revenues		15,755			15,901			32,605			31,231

Expenses:
Losses and loss adjustment expenses		11,441			17,429			23,506			35,129
Amortization of deferred policy acquisition costs		4,083			3,795			7,928			7,379
Other underwriting and general expenses		1,495			1,820			3,088			3,675
Total expenses		17,019			23,044			34,522			46,183

Loss before income taxes		(1,264	)		(7,143	)		(1,917	)		(14,952	)
Income tax benefit		(268	)		(1,484	)		(405	)		(2,979	)
Net loss	$	(996	)	$	(5,659	)	$	(1,512	)	$	(11,973	)

Loss per common share from discontinued operations:
Basic	$	(0.05	)	$	(0.26	)	$	(0.07	)	$	(0.56	)
Diluted	$	(0.05	)	$	(0.26	)	$	(0.07	)	$	(0.56	)

Royalties, Dividends, and Affiliations (Tables)

6 Months Ended

Jun. 30, 2024

Royalties, Dividends, and Affiliations [Abstract]

Schedule of Impact of Including Battle Creek in our Consolidated Balance Sheets

The following table discloses the standalone balance sheet of Battle Creek, prior to intercompany eliminations, to illustrate the impact of including Battle Creek in our December 31, 2023, Consolidated Balance Sheet prior to demutualization:

	December 31, 2023
Assets:
Cash and cash equivalents	$	2,621
Investments		15,394
Premiums and agents’ balances receivable		5,953
Deferred policy acquisition costs		682
Reinsurance recoverables on losses ⁽²⁾		6,918
Accrued investment income		85
Income tax recoverable		225
Deferred income taxes		706
Property and equipment		306
Other assets		97
Total assets	$	32,987

Liabilities:
Unpaid losses and loss adjustment expenses	$	4,276
Unearned premiums		3,269
Notes payable ⁽¹⁾		3,000
Pooling payable ⁽¹⁾		5,932
Reinsurance losses payable ⁽²⁾		13,275
Accrued expenses and other liabilities		477
Total liabilities		30,229

Equity:
Non-controlling interest		2,758
Total equity		2,758

Total liabilities and equity	$	32,987

(1) Amount fully eliminated in consolidation.

(2) Amount partly eliminated in consolidation.

Share-Based Compensation (Details) - Schedule of Performance Stock Outstanding - PSUs [Member] - $ / shares

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Schedule of Performance Stock Outstanding [Line Items]

PSUs, Units outstanding and unearned at beginning

213,800

190,000

Weighted-Average Grant-Date Fair Value Per Share, Units outstanding and unearned at beginning

$ 16.53

$ 17

PSUs granted during (at target)

79,800

87,400

Weighted-Average Grant-Date Fair Value Per Share, PSUs granted during (at target)

$ 14.19

$ 13.85

PSUs earned during

Weighted-Average Grant-Date Fair Value Per Share, PSUs earned during

PSUs, Performance adjustment

^[1]

(64,600)

(63,600)

Weighted-Average Grant-Date Fair Value Per Share, Performance adjustment

^[1]

$ 18.64

$ 14.26

PSUs, Forfeitures

Weighted-Average Grant-Date Fair Value Per Share, Forfeitures

PSUs, Units outstanding and unearned at ending

229,000

213,800

Weighted-Average Grant-Date Fair Value Per Share, Units outstanding and unearned at ending

$ 15.12

$ 16.53

[1]	Represents the change in PSUs issued based upon the attainment of performance goals established by the Company.

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Operating Leases

Additional information regarding the Company’s leases are as follows:

	As of and For the Three Months Ended June 30,				As of and For the Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease expense	$	96	$	98	$	192	$	196
Finance lease cost								—
Amortization of right-of-use assets		20		—		40		—
Interest on lease liabilities		6		—		12		—
Finance lease cost		26		—		52		—
Total lease cost	$	122	$	98	$	244	$	196

Other information on leases:
Cash payments included in operating cash flows from operating leases	$	102	$	103	$	203	$	204
Cash payments included in operating cash flows from finance leases		6		—		12		—
Cash payments included in financing cash flows from finance leases		24		—		48		—
Right-of-use assets obtained in exchange for new operating lease liabilities		185		247		185		247
Right-of-use assets obtained in exchange for new finance lease liabilities		—		—		—		—
Weighted average discount rate – operating leases		4.46%		3.95%		4.46%		3.95%
Weighted average discount rate – finance leases		8.50%		—		8.50%		—
Weighted average remaining lease term in years – operating leases		4.9 years		5.8 years		4.9 years		5.8 years
Weighted average remaining lease term in years – finance leases		2.3 years		—		2.3 years		—

Schedule of Contractual Maturities of Operating Leases

Year ending December 31,	Operating Leases		Finance Leases		Total
2024 (six months remaining)	$	196	$	60	$	256
2025		393		120		512
2026		396		100		497
2027		401		—		401
2028		376		—		376
Thereafter		212		—		212
Total undiscounted lease payments		1,974		280		2,254
Less: present value adjustment		193		26		218
Lease liability at June 30, 2024	$	1,781	$	254	$	2,036

Organization

6 Months Ended

Jun. 30, 2024

Organization [Abstract]

Organization

Organization

NI Holdings is a North Dakota business corporation that is the stock holding company of Nodak Insurance and became such in connection with the Nodak conversion, whereby Nodak Mutual converted from a mutual to stock form of organization and the creation of a mutual holding company. The Nodak conversion was consummated on March 13, 2017. Immediately following the Nodak conversion, all of the outstanding shares of common stock of Nodak Insurance were issued to Nodak Mutual Group, which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance then became a wholly-owned stock subsidiary of NI Holdings. Prior to completion of the Nodak conversion, NI Holdings conducted no business and had no assets or liabilities. As a result of the Nodak conversion, NI Holdings became the holding company for Nodak Insurance and its existing subsidiaries.

These unaudited consolidated financial statements include the financial position and results of operations of NI Holdings and the following other entities:

Nodak Insurance Company

Nodak Insurance is the largest domestic property and casualty insurance company in North Dakota, offering private passenger auto, homeowners, farmowners, commercial multi-peril, crop hail, and Federal multi-peril crop insurance coverages through its captive agents in the state.

Nodak Agency, Inc.

Nodak Agency is an inactive shell corporation.

American West Insurance Company

American West is a property and casualty insurance company licensed in eight states in the Midwest and Western regions of the United States (“U.S.”). American West began writing policies in 2002 and primarily writes private passenger auto, homeowners, and farm coverages in South Dakota. American West also writes private passenger auto coverage in North Dakota, as well as crop hail and Federal multi-peril crop insurance coverages in Minnesota and South Dakota.

Primero Insurance Company

Primero is a wholly-owned subsidiary of Tri-State, Ltd. Tri-State, Ltd. is an inactive shell corporation 100% owned by Nodak Insurance. Primero is a property and casualty insurance company writing non-standard auto coverage in the states of Nevada, Arizona, North Dakota, and South Dakota. Primero was acquired by Nodak Insurance in 2014.

Battle Creek Insurance Company

Battle Creek is a property and casualty insurance company writing private passenger auto, homeowners, and farm coverages solely in the state of Nebraska. Battle Creek became affiliated with Nodak Insurance in 2011 and, prior to January 2, 2024, was controlled by Nodak Insurance via a surplus note. On January 2, 2024, Battle Creek issued 300,000 shares of its common stock to Nodak Insurance at a $10.00 per share par value and became a wholly-owned subsidiary of Nodak Insurance. Because we concluded that we controlled Battle Creek prior to January 2, 2024, we consolidated the financial statements of Battle Creek, and Battle Creek’s policyholders’ interest in Battle Creek was reflected as a non-controlling interest in shareholders’ equity in our Consolidated Balance Sheets for NI Holdings (“Consolidated Balance Sheets”) and its net income or loss was excluded from net income or loss attributed to NI Holdings in our Consolidated Statements of Operations for NI Holdings (“Consolidated Statements of Operations”). Subsequent to January 2, 2024, Battle Creek is fully consolidated in our Consolidated Balance Sheets and Consolidated Statements of Operations and, as such, no longer reflected as a non-controlling interest.

Direct Auto Insurance Company

Direct Auto is a property and casualty insurance company licensed in Illinois. Direct Auto began writing non-standard auto coverage in 2007, and was acquired by NI Holdings on August 31, 2018, via a stock purchase agreement.

Westminster American Insurance Company

Westminster is a property and casualty insurance company licensed in 18 states and the District of Columbia. Westminster is headquartered in Owings Mills, Maryland and underwrites commercial multi-peril insurance in the states of Delaware, Georgia, Kentucky, Maryland, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, and the District of Columbia. Westminster was sold to Scott Insurance Holdings on June 30, 2024. Subsequent to the date of sale, Westminster is reflected as discontinued operations within our Consolidated Balance Sheets and Consolidated Statements of Operations. For additional information see Part I, Item 1, Note 19 “Discontinued Operations” of this Quarterly Report on Form 10-Q/A.

Nodak Insurance markets and distributes its policies through its captive agents, while all other companies utilize the independent agent distribution channel. Additionally, all of the Company’s insurance subsidiary and affiliate companies, excluding Westminster, are rated “A” Excellent by A.M. Best Company, Inc. (“AM Best”), a global credit rating agency specializing in the insurance industry.

The same executive management team provides oversight and strategic direction for the entire organization. Nodak Insurance provides common product oversight, pricing practices, and underwriting standards, as well as underwriting and claims administration, to itself, American West, and Battle Creek. Primero and Direct Auto personnel manage the day-to-day operations of their respective companies. Westminster personnel managed the day-to-day operations of their company prior to the date of sale.

Property and Equipment (Details) - Schedule of Property and Equipment for Current and Prior Year Continuing and Discontinued Operations - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cost:
Cost	$ 18,947	$ 21,654
Accumulated depreciation
Accumulated depreciation	(11,361)	(11,757)
Total property and equipment, net	7,586	9,897
Continuing Operations [Member]
Cost:
Cost	18,947	18,756
Accumulated depreciation
Accumulated depreciation	(11,361)	(11,304)
Discontinued Operations [Member]
Cost:
Cost		2,898
Accumulated depreciation
Accumulated depreciation		$ (453)

Fair Value Measurements (Details) - Schedule of Continuing and Discontinued Operations Assets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities	$ 303,415	$ 347,731
Total equity securities	22,973	21,983
Money market accounts and cash equivalents
Total money market accounts and cash equivalents	18,108	25,596
Total assets at fair value	344,496	401,094
Level 1 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Money market accounts and cash equivalents
Total money market accounts and cash equivalents	18,108	19,412
Total assets at fair value	41,081	47,179
Level 2 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities	303,415	347,731
Money market accounts and cash equivalents
Total money market accounts and cash equivalents		6,184
Total assets at fair value	303,415	353,915
Level 3 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Money market accounts and cash equivalents
Total money market accounts and cash equivalents
Total assets at fair value
Fixed Income Securities [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities	303,415	347,731
Fixed Income Securities [Member] \| Level 1 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Fixed Income Securities [Member] \| Level 2 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities	303,415	347,731
Fixed Income Securities [Member] \| Level 3 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Equity Securities [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities	22,973	27,767
Equity Securities [Member] \| Level 1 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities	22,973	27,767
Equity Securities [Member] \| Level 2 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities
Equity Securities [Member] \| Level 3 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities
Continuing Operations [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities	303,415	289,399
Money market accounts and cash equivalents
Total money market accounts and cash equivalents	18,108	16,239
Continuing Operations [Member] \| Level 1 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents	18,108	16,239
Continuing Operations [Member] \| Level 2 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents
Continuing Operations [Member] \| Level 3 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents
Continuing Operations [Member] \| Fixed Income Securities [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities	303,415	289,399
Continuing Operations [Member] \| Fixed Income Securities [Member] \| Level 1 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Continuing Operations [Member] \| Fixed Income Securities [Member] \| Level 2 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities	303,415	289,399
Continuing Operations [Member] \| Fixed Income Securities [Member] \| Level 3 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Continuing Operations [Member] \| Equity Securities [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities	22,973	21,983
Continuing Operations [Member] \| Equity Securities [Member] \| Level 1 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities	22,973	21,983
Continuing Operations [Member] \| Equity Securities [Member] \| Level 2 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities
Continuing Operations [Member] \| Equity Securities [Member] \| Level 3 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities
Discontinued Operations [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities		58,332
Money market accounts and cash equivalents
Total money market accounts and cash equivalents		9,357
Discontinued Operations [Member] \| Level 1 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents		3,173
Discontinued Operations [Member] \| Level 2 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents		6,184
Discontinued Operations [Member] \| Level 3 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents
Discontinued Operations [Member] \| Fixed Income Securities [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities		58,332
Discontinued Operations [Member] \| Fixed Income Securities [Member] \| Level 1 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Discontinued Operations [Member] \| Fixed Income Securities [Member] \| Level 2 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities		58,332
Discontinued Operations [Member] \| Fixed Income Securities [Member] \| Level 3 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total fixed income securities
Discontinued Operations [Member] \| Equity Securities [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities		5,784
Discontinued Operations [Member] \| Equity Securities [Member] \| Level 1 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities		5,784
Discontinued Operations [Member] \| Equity Securities [Member] \| Level 2 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities
Discontinued Operations [Member] \| Equity Securities [Member] \| Level 3 [Member]
Schedule of Continuing and Discontinued Operations Assets [Line Items]
Total equity securities
Total money market accounts and cash equivalents [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents	18,108
Total money market accounts and cash equivalents [Member] \| Level 1 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents	18,108
Total money market accounts and cash equivalents [Member] \| Level 2 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents
Total money market accounts and cash equivalents [Member] \| Level 3 [Member]
Money market accounts and cash equivalents
Total money market accounts and cash equivalents

Discontinued Operations (As Restated) (Details) - Schedule of Operating Results of Discontinued Operations - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Net premiums earned	$ 15,383	$ 15,311	$ 31,056	$ 30,067
Fee and other income	7	9	14	22
Net investment income	621	582	1,419	1,130
Net investment gains (losses)	(256)	(1)	116	12
Total revenues	15,755	15,901	32,605	31,231
Expenses:
Losses and loss adjustment expenses	11,441	17,429	23,506	35,129
Amortization of deferred policy acquisition costs	4,083	3,795	7,928	7,379
Other underwriting and general expenses	1,495	1,820	3,088	3,675
Total expenses	17,019	23,044	34,522	46,183
Loss before income taxes	(1,264)	(7,143)	(1,917)	(14,952)
Income tax benefit	(268)	(1,484)	(405)	(2,979)
Net loss	$ (996)	$ (5,659)	$ (1,512)	$ (11,973)
Loss per common share from discontinued operations:
Basic (in Dollars per share)	$ (0.05)	$ (0.26)	$ (0.07)	$ (0.56)
Diluted (in Dollars per share)	$ (0.05)	$ (0.26)	$ (0.07)	$ (0.56)

Goodwill and Other Intangibles (Details) - Schedule of Other Intangible Assets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Consolidated Entities [Member]
Subject to amortization:
Gross Carrying Amount	$ 348	$ 9,348
Accumulated Amortization	248	1,937
Net	100	7,411
Consolidated Entities [Member] \| Trade Names [Member]
Subject to amortization:
Gross Carrying Amount	248	748
Accumulated Amortization	248	448
Net		300
Consolidated Entities [Member] \| Distribution Network [Member]
Subject to amortization:
Gross Carrying Amount		6,700
Accumulated Amortization		1,489
Net		5,211
Consolidated Entities [Member] \| Subject to Amortization [Member]
Subject to amortization:
Gross Carrying Amount	248	7,448
Accumulated Amortization	248	1,937
Net		5,511
Consolidated Entities [Member] \| State insurance licenses [Member]
Subject to amortization:
Gross Carrying Amount	100	1,900
Accumulated Amortization
Net	100	1,900
Current and Prior Year [Member] \| Subject to Amortization [Member]
Subject to amortization:
Gross Carrying Amount	248	7,448
Accumulated Amortization	248	1,937
Net		5,511
Current and Prior Year [Member] \| Continuing Operations [Member]
Subject to amortization:
Gross Carrying Amount	248	248
Accumulated Amortization	248	248
Net
Current and Prior Year [Member] \| Discontinued Operations [Member]
Subject to amortization:
Gross Carrying Amount		7,200
Accumulated Amortization		1,689
Net		5,511
Current and Prior Year [Member] \| Not Subject to Amortization Continuing Operations [Member]
Subject to amortization:
Gross Carrying Amount	100	100
Accumulated Amortization
Net	100	100
Current and Prior Year [Member] \| Not Subject to Amortization Discontinued Operations [Member]
Subject to amortization:
Gross Carrying Amount		1,800
Accumulated Amortization
Net		1,800
Current and Prior Year [Member] \| Not Subject to Amortization [Member]
Subject to amortization:
Gross Carrying Amount	348	9,348
Accumulated Amortization	248	1,937
Net	$ 100	$ 7,411

Unpaid Losses and Loss Adjustment Expenses (Details) - Schedule of Activity in the Liability for Unpaid Losses and Loss Adjustment Expenses - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses, beginning	$ 217,119	$ 190,459
Reinsurance recoverables on losses	48,969	37,575
Net balance, beginning of period	168,150	152,884
Incurred related to:
Current year	125,235	126,854
Prior years	7,773	9,477
Total incurred	133,008	136,331
Paid related to:
Current year	45,494	50,010
Prior years	54,372	60,675
Total paid	99,866	110,685
Westminster balances disposed in sale:
Liability for unpaid losses and loss adjustment expenses	107,508
Reinsurance recoverables on losses	45,320
Net balance, end of period	62,188
Balance, end of period:
Liability for unpaid losses and loss adjustment expenses	148,527	232,038
Reinsurance recoverables on losses	9,423	53,508
Net balance, end of period	139,104	178,530
Continuing operations [Member]
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses, beginning	119,185	114,296
Reinsurance recoverables on losses	6,460	8,586
Net balance, beginning of period	112,725	105,710
Incurred related to:
Current year	101,120	100,574
Prior years	8,382	628
Total incurred	109,502	101,202
Paid related to:
Current year	39,930	41,857
Prior years	43,193	38,468
Total paid	83,123	80,325
Balance, end of period:
Liability for unpaid losses and loss adjustment expenses	148,527	137,535
Reinsurance recoverables on losses	9,423	10,948
Net balance, end of period	139,104	126,587
Discontinued operations [Member]
Balance, beginning of period:
Liability for unpaid losses and loss adjustment expenses, beginning	97,934	76,163
Reinsurance recoverables on losses	42,509	28,989
Net balance, beginning of period	55,425	47,174
Incurred related to:
Current year	24,115	26,280
Prior years	(609)	8,849
Total incurred	23,506	35,129
Paid related to:
Current year	5,564	8,153
Prior years	11,179	22,207
Total paid	16,743	30,360
Balance, end of period:
Liability for unpaid losses and loss adjustment expenses	107,508	94,503
Reinsurance recoverables on losses	45,320	42,560
Net balance, end of period	$ 62,188	$ 51,943

Share-Based Compensation (Details) - Schedule of Restricted Stock Outstanding - RSUs [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Schedule of Restricted Stock Outstanding [Line Items]
RSUs, Units outstanding and unearned at beginning	146,580	115,360
Weighted-Average Grant-Date Fair Value Per Share, Units outstanding and unearned at beginning	$ 15.37	$ 17
RSUs granted	103,600	85,000
Weighted-Average Grant-Date Fair Value Per Share, RSUs granted	$ 14.45	$ 13.76
RSUs earned	(69,420)	(53,780)
Weighted-Average Grant-Date Fair Value Per Share, RSUs earned	$ 14.82	$ 16.32
RSUs, Units outstanding and unearned at ending	180,760	146,580
Weighted-Average Grant-Date Fair Value Per Share, Units outstanding and unearned at ending	$ 15.06	$ 15.37

Common and Preferred Stock (Details) - Schedule of Changes in the Number of Common Stock Shares Outstanding - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Changes in the Number of Common Stock Shares Outstanding [Abstract]
Shares outstanding, beginning of period	20,599,908	21,076,255
Treasury shares repurchased through stock repurchase authorization		(238,164)
Issuance of treasury shares for vesting of restricted stock units	48,734	47,887
Shares outstanding, end of period	20,648,642	20,885,978

- Definition

+ References + Details

Leases (Details) - Schedule of Operating Leases - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 96	$ 98	$ 192	$ 196
Lease, Cost	122	98	244	196
Amortization of right-of-use assets	20		40
Interest on lease liabilities	6		12
Finance lease cost	26		52
Total lease cost	122	98	244	196
Other information on leases:
Cash payments included in operating cash flows from operating leases	102	103	203	204
Cash payments included in operating cash flows from finance leases	6		12
Cash payments included in financing cash flows from finance leases	24		48
Right-of-use assets obtained in exchange for new operating lease liabilities	185	247	185	247
Right-of-use assets obtained in exchange for new finance lease liabilities
Weighted average discount rate – operating leases	4.46%	3.95%	4.46%	3.95%
Weighted average discount rate – finance leases	8.50%		8.50%
Weighted average remaining lease term in years – operating leases	4 years 10 months 24 days	5 years 9 months 18 days	4 years 10 months 24 days	5 years 9 months 18 days
Weighted average remaining lease term in years – finance leases	2 years 3 months 18 days		2 years 3 months 18 days

Allowance for Expected Credit Losses

6 Months Ended

Jun. 30, 2024

Allowance for Expected Credit Losses [Abstract]

Allowance for Expected Credit Losses

18. Allowance for Expected Credit Losses

Premiums Receivable

	As of and For the Three Months Ended June 30, 2024					As of and For the Three Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Continuing operations:
Balance, beginning of period	$	59,979	$	216		$	49,587	$	437

Current period charge for expected credit losses				251					187
Write-offs of uncollectible premiums receivable				(119	)				(198	)

Balance, end of period	$	92,831	$	348		$	91,249	$	426

	As of and For the Six Months Ended June 30, 2024					As of and For the Six Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Continuing operations:
Balance, beginning of period	$	56,154	$	394		$	47,346	$	417

Current period charge for expected credit losses				132					274
Write-offs of uncollectible premiums receivable				(178	)				(265	)

Balance, end of period	$	92,831	$	348		$	91,249	$	426

	As of and For the Three Months Ended June 30, 2024					As of and For the Three Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Discontinued operations:
Balance, beginning of period	$	19,727	$	8		$	14,915	$	8

Current period charge for expected credit losses				2					2
Write-offs of uncollectible premiums receivable				(2	)				(2	)

Balance, end of period	$	16,030	$	8		$	15,697	$	8

	As of and For the Six Months Ended June 30, 2024					As of and For the Six Months Ended June 30, 2023
	Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses			Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses		Allowance for Expected Credit Losses
Discontinued operations:
Balance, beginning of period	$	17,904	$	8		$	14,827	$	8

Current period charge for expected credit losses				4					4
Write-offs of uncollectible premiums receivable				(4	)				(4	)

Balance, end of period	$	16,030	$	8		$	15,697	$	8

Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill and Other Intangibles [Line Items]
Impairment charges					$ 6,756
Amortization expense				$ 25
Continuing Operations [Member]
Goodwill and Other Intangibles [Line Items]
Amortization expense	$ 0	$ 12	0	25
Goodwill [Member]
Goodwill and Other Intangibles [Line Items]
Amortization expense	$ 105	$ 118	$ 211	$ 236

- 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

+ Details

Royalties, Dividends, and Affiliations (Details) - Schedule of Impact of Including Battle Creek in our Consolidated Balance Sheets - Battle Creek [Member]
$ in Thousands

Dec. 31, 2023

USD ($)

Assets:

Cash and cash equivalents

$ 2,621

Investments

15,394

Premiums and agents’ balances receivable

5,953

Deferred policy acquisition costs

682

Reinsurance recoverables on losses

6,918

^[1]

Accrued investment income

Income tax recoverable

225

Deferred income taxes

706

Property and equipment

306

Other assets

Total assets

32,987

Liabilities:

Unpaid losses and loss adjustment expenses

4,276

Unearned premiums

3,269

Notes payable

3,000

^[2]

Pooling payable

5,932

^[2]

Reinsurance losses payable

13,275

^[1]

Accrued expenses and other liabilities

477

Total liabilities

30,229

Equity:

Non-controlling interest

2,758

Total equity

2,758

Total liabilities and equity

$ 32,987

[1]	Amount partly eliminated in consolidation.
[2]	Amount fully eliminated in consolidation.

Line of Credit

6 Months Ended

Jun. 30, 2024

Line of Credit [Abstract]

Line of Credit

12. Line of Credit

NI Holdings has a $3,000 line of credit with Wells Fargo Bank, N.A. The terms of the line of credit include a floating interest rate of 2.50% above the daily simple secured overnight financing rate. There were no outstanding amounts during the six months ended June 30, 2024, or the year ended December 31, 2023. This line of credit is scheduled to expire on December 13, 2024.

- 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
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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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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: 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 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net loss	$ (19,622)	$ (8,235)	$ (13,203)	$ (12,735)
Other comprehensive loss, before income taxes:
Holding gains (losses) on investments	(953)	(3,094)	(2,770)	2,628
Reclassification adjustment for net realized losses included in net loss	30	188	40	487
Other comprehensive income (loss), before income taxes	(923)	(2,906)	(2,730)	3,115
Income tax (expense) benefit related to items of other comprehensive loss	209	660	616	(708)
Other comprehensive income (loss), net of income taxes	(714)	(2,246)	(2,114)	2,407
Comprehensive loss	(20,336)	(10,481)	(15,317)	(10,328)
Attributable to NI Holdings, Inc.
Net loss	(19,622)	(8,122)	(13,203)	(12,332)
Other comprehensive loss, before income taxes:
Holding gains (losses) on investments	(953)	(2,954)	(2,770)	2,490
Reclassification adjustment for net realized losses included in net loss	30	188	40	487
Other comprehensive income (loss), before income taxes	(923)	(2,766)	(2,730)	2,977
Income tax (expense) benefit related to items of other comprehensive loss	209	628	616	(677)
Other comprehensive income (loss), net of income taxes	(714)	(2,138)	(2,114)	2,300
Comprehensive loss	(20,336)	(10,260)	(15,317)	(10,032)
Attributable to Non- Controlling Interest
Net loss		(113)		(403)
Other comprehensive loss, before income taxes:
Holding gains (losses) on investments		(140)		138
Reclassification adjustment for net realized losses included in net loss
Other comprehensive income (loss), before income taxes		(140)		138
Income tax (expense) benefit related to items of other comprehensive loss		32		(31)
Other comprehensive income (loss), net of income taxes		(108)		107
Comprehensive loss		$ (221)		$ (296)

Investments

6 Months Ended

Jun. 30, 2024

Investments [Abstract]

Investments

3. Investments

	June 30, 2024
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. Government and agencies	$	12,075	$	—	$	21	$	(355	)	$	11,741
Obligations of states and political subdivisions		56,568		—		191		(4,897	)		51,862
Corporate securities		125,282		—		138		(8,980	)		116,440
Residential mortgage-backed securities		48,926		—		38		(5,061	)		43,903
Commercial mortgage-backed securities		28,301		—		61		(3,324	)		25,038
Asset-backed securities		54,596		—		236		(3,699	)		51,133
Redeemable preferred stocks		3,738		—		—		(440	)		3,298
Total fixed income securities	$	329,486	$	—	$	685	$	(26,756	)	$	303,415

	December 31, 2023
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
U.S. Government and agencies	$	10,998	$	—	$	—	$	(736	)	$	10,262
Obligations of states and political subdivisions		55,769		—		408		(4,716	)		51,461
Corporate securities		152,630		—		442		(10,856	)		142,216
Residential mortgage-backed securities		66,362		—		180		(5,379	)		61,163
Commercial mortgage-backed securities		33,532		—		148		(4,241	)		29,439
Asset-backed securities		52,692		—		142		(3,805	)		49,029
Redeemable preferred stocks		4,747		—		—		(586	)		4,161
Total fixed income securities	$	376,730	$	—	$	1,320	$	(30,319	)	$	347,731

The reconciliation of the amortized cost and estimated fair value of fixed income securities for continuing and discontinued operations as of June 30, 2024, and December 31, 2023, were as follows:

	June 30, 2024
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
Continuing operations	$	329,486	$	—	$	685	$	(26,756	)	$	303,415
Discontinued operations		—		—		—		—			—
Total fixed income securities	$	329,486	$	—	$	685	$	(26,756	)	$	303,415

	December 31, 2023
	Cost or Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed income securities:
Continuing operations	$	313,182	$	—	$	1,116	$	(24,899	)	$	289,399
Discontinued operations		63,548		—		204		(5,420	)		58,332
Total fixed income securities	$	376,730	$	—	$	1,320	$	(30,319	)	$	347,731

	June 30, 2024
	Amortized Cost		Fair Value
Due to mature:
One year or less	$	12,663	$	12,454
After one year through five years		64,545		61,560
After five years through ten years		72,035		65,882
After ten years		44,682		40,147
Mortgage / asset-backed securities		131,823		120,074
Redeemable preferred stocks		3,738		3,298
Total fixed income securities	$	329,486	$	303,415

	December 31, 2023
	Amortized Cost		Fair Value
Due to mature:
One year or less	$	9,612	$	9,436
After one year through five years		75,794		72,602
After five years through ten years		86,185		79,281
After ten years		47,806		42,620
Mortgage / asset-backed securities		152,586		139,631
Redeemable preferred stocks		4,747		4,161
Total fixed income securities	$	376,730	$	347,731

Fixed income securities with a fair value of $7,245 at June 30, 2024, and $6,403 at December 31, 2023, were deposited with various state regulatory agencies as required by law. The Company has not pledged any assets to secure any obligations.

	June 30, 2024
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
U.S. Government and agencies	$	3,212	$	(28	)	$	6,071	$	(327	)	$	9,283	$	(355	)
Obligations of states and political subdivisions		9,019		(112	)		36,207		(4,785	)		45,226		(4,897	)
Corporate securities		14,678		(240	)		91,589		(8,740	)		106,267		(8,980	)
Residential mortgage-backed securities		8,535		(121	)		30,354		(4,940	)		38,889		(5,061	)
Commercial mortgage-backed securities		1,928		(42	)		21,112		(3,282	)		23,040		(3,324	)
Asset-backed securities		6,526		(43	)		23,230		(3,656	)		29,756		(3,699	)
Redeemable preferred stocks		—		—			3,297		(440	)		3,297		(440	)
Total fixed income securities	$	43,898	$	(586	)	$	211,860	$	(26,170	)	$	255,758	$	(26,756	)

	December 31, 2023
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
U.S. Government and agencies	$	—	$	—		$	9,018	$	(736	)	$	9,018	$	(736	)
Obligations of states and political subdivisions		5,239		(359	)		36,194		(4,357	)		41,433		(4,716	)
Corporate securities		8,018		(93	)		110,117		(10,763	)		118,135		(10,856	)
Residential mortgage-backed securities		12,054		(104	)		33,341		(5,275	)		45,395		(5,379	)
Commercial mortgage-backed securities		2,678		(5	)		23,713		(4,236	)		26,391		(4,241	)
Asset-backed securities		4,463		(18	)		30,200		(3,787	)		34,663		(3,805	)
Redeemable preferred stocks		—		—			4,161		(586	)		4,161		(586	)
Total fixed income securities	$	32,452	$	(579	)	$	246,744	$	(29,740	)	$	279,196	$	(30,319	)

The reconciliation for continuing and discontinued operations by duration of the Company’s gross unrealized losses on fixed income securities are shown below.

	June 30, 2024
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
Continuing operations	$	43,898	$	(586	)	$	211,860	$	(26,170	)	$	255,758	$	(26,756	)
Discontinued operations		—		—			—		—			—		—
Total fixed income securities	$	43,898	$	(586	)	$	211,860	$	(26,170	)	$	255,758	$	(26,756	)

	December 31, 2023
	Less than 12 Months					Greater than 12 months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed income securities:
Continuing operations	$	24,049	$	(509	)	$	211,367	$	(24,390	)	$	235,416	$	(24,899	)
Discontinued operations		8,403		(70	)		35,377		(5,350	)		43,780		(5,420	)
Total fixed income securities	$	32,452	$	(579	)	$	246,744	$	(29,740	)	$	279,196	$	(30,319	)

We, along with our investment advisor, frequently review our investment portfolio for declines in fair value that could be indicative of credit losses. Beginning on December 31, 2022, credit losses are recognized through an allowance account. We consider a number of factors when determining if an allowance for credit losses is necessary, including payment and default history, credit spreads, credit ratings and rating actions, and probability of default. We determine the credit loss component of fixed income investments by utilizing discounted cash flow modeling to determine the present value of the security and comparing the present value with the amortized cost of the security. We did not recognize any credit losses for fixed income securities at the time of adoption of the new credit loss accounting standard and have not recognized any credit losses for fixed income securities since adoption of the credit loss standard. Therefore, there were no beginning or ending balances of credit losses as of the six months ended June 30, 2024 or the year ended December 31, 2023. See Item II, Part 8, Note 3 “Summary of Significant Accounting Policies” section of the 2023 Annual Report for additional information.

Net investment income for continuing and discontinued operations consisted of the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Continuing operations:
Fixed income securities	$	2,624	$	2,283	$	5,496	$	4,466
Equity securities		182		207		423		448
Real estate		92		97		189		195
Cash and cash equivalents		432		67		869		99
Total gross investment income		3,330		2,654		6,977		5,208
Investment expenses		807		731		1,699		1,594
Net investment income – continuing operations		2,523		1,923		5,278		3,614
Net investment income – discontinued operations		621		582		1,419		1,130
Net investment income	$	3,144	$	2,505	$	6,697	$	4,744

Net investment gains (losses) for continuing and discontinued operations consisted of the following:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Continuing operations:
Gross realized gains:
Fixed income securities	$	—		$	—		$	9		$	—
Equity securities		191			344			381			13,018
Total gross realized gains		191			344			390			13,018

Gross realized losses, excluding credit impairment losses:
Fixed income securities		—			(185	)		(15	)		(440	)
Equity securities		(182	)		(257	)		(457	)		(1,041	)
Total gross realized losses, excluding credit impairment losses		(182	)		(442	)		(472	)		(1,481	)

Net realized gains (losses)		9			(98	)		(82	)		11,537

Change in net unrealized gains on equity securities		(589	)		(75	)		958			(10,307	)
Net investment gains (losses) – continuing operations		(580	)		(173	)		876			1,230
Net investment gains (losses) – discontinued operations		(256	)		(1	)		116			12
Net investment gains (losses)	$	(836	)	$	(174	)	$	992		$	1,242

Royalties, Dividends, and Affiliations

6 Months Ended

Jun. 30, 2024

Royalties, Dividends, and Affiliations [Abstract]

Royalties, Dividends, and Affiliations

10. Royalties, Dividends, and Affiliations

North Dakota Farm Bureau

Nodak Insurance was organized by the North Dakota Farm Bureau (“NDFB”) to provide insurance protection for its members. We have a royalty agreement with the NDFB that recognizes the use of their trademark and provides royalties to the NDFB based on the premiums written on Nodak Insurance’s policies. Royalties paid to the NDFB were $480 and $442 during the three months ended June 30, 2024 and 2023, respectively, and $883 and $799 for the six months ended June 30, 2024 and 2023, respectively. Royalty amounts payable of $175 and $131 were accrued as a liability to the NDFB at June 30, 2024, and December 31, 2023, respectively.

Dividends

State insurance laws require our insurance subsidiaries to maintain certain minimum capital and surplus amounts on a statutory basis. Our insurance subsidiaries are subject to regulations that restrict the payment of dividends from statutory surplus and may require prior approval from their domiciliary insurance regulatory authorities. Our insurance subsidiaries are also subject to risk-based capital requirements that may further affect their ability to pay dividends. Our insurance subsidiaries statutory capital and surplus at December 31, 2023, exceeded the amount of statutory capital and surplus necessary to satisfy risk-based capital requirements by a significant margin. For information regarding the availability of subsidiaries to pay dividends to NI Holdings during 2024, see Item II, Part 8, Note 12 “Related Party Transactions” section of the 2023 Annual Report.

Battle Creek

Prior to January 2, 2024, we consolidated the financial statements of Battle Creek, and Battle Creek’s policyholders’ interest in Battle Creek was reflected as a non-controlling interest in shareholders’ equity in our Consolidated Balance Sheets. Subsequent to January 2, 2024, Battle Creek is fully consolidated in our Consolidated Balance Sheets. The following table discloses the standalone balance sheet of Battle Creek, prior to intercompany eliminations, to illustrate the impact of including Battle Creek in our December 31, 2023, Consolidated Balance Sheet prior to demutualization:

	December 31, 2023
Assets:
Cash and cash equivalents	$	2,621
Investments		15,394
Premiums and agents’ balances receivable		5,953
Deferred policy acquisition costs		682
Reinsurance recoverables on losses ⁽²⁾		6,918
Accrued investment income		85
Income tax recoverable		225
Deferred income taxes		706
Property and equipment		306
Other assets		97
Total assets	$	32,987

Liabilities:
Unpaid losses and loss adjustment expenses	$	4,276
Unearned premiums		3,269
Notes payable ⁽¹⁾		3,000
Pooling payable ⁽¹⁾		5,932
Reinsurance losses payable ⁽²⁾		13,275
Accrued expenses and other liabilities		477
Total liabilities		30,229

Equity:
Non-controlling interest		2,758
Total equity		2,758

Total liabilities and equity	$	32,987

(1) Amount fully eliminated in consolidation.

(2) Amount partly eliminated in consolidation.

Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Measurements [Abstract]

Fair Value Measurements

4. Fair Value Measurements

The Company uses fair value measurements to record fair value adjustments to certain assets to determine fair value disclosures. Investment securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record other assets or liabilities at fair value on a nonrecurring basis. These nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or write-downs of individual assets. Accounting guidance on fair value measurements and disclosures establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The three levels of the fair value hierarchy are as follows:

	Level 1:	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
	Level 2:	Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 2 includes fixed income securities with quoted prices that are traded less frequently than exchange traded instruments. Valuation techniques include matrix pricing which is a mathematical technique used widely in the industry to value fixed income securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices.
	Level 3:	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity).

The Company bases its fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy. Fair value measurements for assets where there exists limited or no observable market data and, therefore, are based primarily upon the estimates of the Company or other third-parties, are often calculated based on the characteristics of the asset, the economic and competitive environment, and other such factors. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts which could have been realized in a sale transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period-end and have not been re-evaluated or updated for purposes of our consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. Additionally, changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future valuations.

The Company uses quoted values and other data provided by an independent pricing service in its process for determining fair values of its investments. The evaluations of such pricing services represent an exit price and a good faith opinion as to what a buyer in the marketplace would pay for a security in a current sale. This pricing service provides us with one quote per instrument. For fixed income securities that have quoted prices in active markets, market quotations are provided. For fixed income securities that do not trade on a daily basis, the independent pricing service prepares estimates of fair value using a wide array of observable inputs including relevant market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. The observable market inputs that the Company’s independent pricing service utilizes may include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, market bids/offers, and other reference data on markets, industry, and the economy. Additionally, the independent pricing service uses an option-adjusted spread model to develop prepayment and interest rate scenarios.

Should the independent pricing service be unable to provide a fair value estimate, we would first attempt to obtain a fair value estimate from our third-party investment advisor who utilizes different independent pricing services. If unsuccessful, we would attempt to obtain a non-binding fair value estimate from a number of broker-dealers and would review this estimate in conjunction with a fair value estimate reported by an independent business news service or other sources. In instances where only one broker-dealer provides a fair value for a fixed income security, we would use that estimate. In instances where the Company would be able to obtain fair value estimates from more than one broker-dealer, we would review the range of estimates and select the most appropriate value based on the facts and circumstances. Should neither the independent pricing service nor a broker-dealer provide a fair value estimate, we would develop a fair value estimate based on cash flow analyses and other valuation techniques that utilize certain unobservable inputs. Accordingly, the Company classifies such a security as a Level 3 investment.

The fair value estimates of our investments provided by the independent pricing service at each period-end were utilized, among other resources, in reaching a conclusion as to the fair value of its investments.

Management reviews the reasonableness of the pricing provided by the independent pricing service by employing various analytical procedures. We also use information from our third-party investment advisor who utilizes different independent pricing services to further validate the reasonableness of the valuation of our fixed income portfolio. If, after this review, management does not believe the pricing for any security is a reasonable estimate of fair value, then it will seek to resolve the discrepancy through discussions with the independent pricing service. In its review, management did not identify any such discrepancies and no adjustments were made to the estimates provided by the independent pricing service for the three or six months ended June 30, 2024, or the year ended December 31, 2023. The classification within the fair value hierarchy is then confirmed based on the final conclusions from the pricing review.

The valuation of money market accounts and equity securities are generally based on Level 1 inputs, which use the market-approach valuation technique. The valuation of certain cash equivalents and our fixed income securities generally incorporates significant Level 2 inputs using the market and income approach techniques. We may assign a lower level to inputs typically considered to be Level 2 based on our assessment of liquidity and relative level of uncertainty surrounding inputs. There were no assets or liabilities classified at Level 3 at June 30, 2024, or December 31, 2023.

	June 30, 2024
	Total		Level 1		Level 2		Level 3
Fixed income securities:
U.S. Government and agencies	$	11,741	$	—	$	11,741	$	—
Obligations of states and political subdivisions		51,862		—		51,862		—
Corporate securities		116,440		—		116,440		—
Residential mortgage-backed securities		43,903		—		43,903		—
Commercial mortgage-backed securities		25,038		—		25,038		—
Asset-backed securities		51,133		—		51,133		—
Redeemable preferred stock		3,298		—		3,298		—
Total fixed income securities		303,415		—		303,415		—

Equity securities:
Common stock		22,973		22,973		—		—
Non-redeemable preferred stock		—		—		—		—
Total equity securities		22,973		22,973		—		—

Money market accounts and cash equivalents		18,108		18,108		—		—
Total assets at fair value	$	344,496	$	41,081	$	303,415	$	—

	December 31, 2023
	Total		Level 1		Level 2		Level 3
Fixed income securities:
U.S. Government and agencies	$	10,262	$	—	$	10,262	$	—
Obligations of states and political subdivisions		51,461		—		51,461		—
Corporate securities		142,216		—		142,216		—
Residential mortgage-backed securities		61,163		—		61,163		—
Commercial mortgage-backed securities		29,439		—		29,439		—
Asset-backed securities		49,029		—		49,029		—
Redeemable preferred stock		4,161		—		4,161		—
Total fixed income securities		347,731		—		347,731		—

Equity securities:
Common stock		25,890		25,890		—		—
Non-redeemable preferred stock		1,877		1,877		—		—
Total equity securities		27,767		27,767		—		—

Money market accounts and cash equivalents		25,596		19,412		6,184		—
Total assets at fair value	$	401,094	$	47,179	$	353,915	$	—

	June 30, 2024
	Total		Level 1		Level 2		Level 3
Fixed income securities:
Continuing operations	$	303,415	$	—	$	303,415	$	—
Discontinued operations		—		—		—		—
Total fixed income securities		303,415		—		303,415		—

Equity securities:
Continuing operations		22,973		22,973		—		—
Discontinued operations		—		—		—		—
Total equity securities		22,973		22,973		—		—

Money market accounts and cash equivalents
Continuing operations		18,108		18,108		—		—
Discontinued operations		—		—		—		—
Total money market accounts and cash equivalents		18,108		18,108		—		—
Total assets at fair value	$	344,496	$	41,081	$	303,415	$	—

	December 31, 2023
	Total		Level 1		Level 2		Level 3
Fixed income securities:
Continuing operations	$	289,399	$	—	$	289,399	$	—
Discontinued operations		58,332		—		58,332		—
Total fixed income securities		347,731		—		347,731		—

Equity securities:
Continuing operations		21,983		21,983		—		—
Discontinued operations		5,784		5,784		—		—
Total equity securities		27,767		27,767		—		—

Money market accounts and cash equivalents
Continuing operations		16,239		16,239		—		—
Discontinued operations		9,357		3,173		6,184		—
Total money market accounts and cash equivalents		25,596		19,412		6,184		—
Total assets at fair value	$	401,094	$	47,179	$	353,915	$	—

There were no liabilities measured at fair value on a recurring basis at June 30, 2024, or December 31, 2023.

- 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

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-Topic 820
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+ Details

Allowance for Expected Credit Losses (Details) - Schedule of Allowance for Expected Credit Losses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses [Member] \| Continuing Operations [Member]
Schedule of Allowance for Expected Credit Losses [ Line Items]
Balance, beginning of period	$ 59,979	$ 49,587	$ 56,154	$ 47,346
Balance, end of period	92,831	91,249	92,831	91,249
Premiums and Agents’ Balances Receivable, Net of Allowance for Expected Credit Losses [Member] \| Discontinued Operations [Member]
Schedule of Allowance for Expected Credit Losses [ Line Items]
Balance, beginning of period	19,727	14,915	17,904	14,827
Balance, end of period	16,030	15,697	16,030	15,697
Allowance for Expected Credit Losses [Member] \| Continuing Operations [Member]
Schedule of Allowance for Expected Credit Losses [ Line Items]
Balance, beginning of period	216	437	394	417
Current period charge for expected credit losses	251	187	132	274
Write-offs of uncollectible premiums receivable	(119)	(198)	(178)	(265)
Balance, end of period	348	426	348	426
Allowance for Expected Credit Losses [Member] \| Discontinued Operations [Member]
Schedule of Allowance for Expected Credit Losses [ Line Items]
Balance, beginning of period	8	8	8	8
Current period charge for expected credit losses	2	2	4	4
Write-offs of uncollectible premiums receivable	(2)	(2)	(4)	(4)
Balance, end of period	$ 8	$ 8	$ 8	$ 8