v3.26.1
Premium Finance Contracts, Related Receivable and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2026
Premium Finance Contracts Related Receivable And Allowance For Credit Losses  
Schedule of premium finance contract and agents’ receivable
         
Description  March 31, 2026   December 31, 2025 
 Contracts due from insured  $75,683,400   $69,350,806 
 Contracts due from insurance carrier   7,589,129    7,279,828 
    83,272,529    76,630,634 
 Amounts due from agents   1,241,814    1,146,494 
 Less: Unearned interest   (2,893,106)   (2,736,977)
    81,621,237    75,040,151 
 Less: Allowance for credit losses   (2,355,793)   (2,202,768)
           
 Total  $79,265,444   $72,837,383 
Schedule of allowance for credit losses
         
   March 31, 2026   December 31, 2025 
Allowance for contracts due from insured  $1,405,080   $1,268,799 
Allowance for contracts due from insurance carrier   758,250    746,506 
Allowance for amounts due from agents   192,463    187,463 
           
Total allowance for credit losses  $2,355,793   $2,202,768 
Schedule of allowance for credit losses activity
         
   March 31, 2026   December 31, 2025 
Balance at the beginning of the year  $2,202,768   $1,969,007 
Current year provision   595,000    2,115,000 
Write-offs charged against the allowance   (468,466)   (2,211,812)
Recoveries of amounts previously charged off   26,491    330,573 
           
Balance at end of the year  $2,355,793   $2,202,768 
Schedule of reconciliation between the total provision per the footnote and the provision for credit losses
     
   For the three months ended
March 31,		 
   2026
(unaudited)		   2025
(unaudited)		 
Current additions to the allowance  $595,000   $425,000 
Less: Contra-revenues   (197,665)   (185,484)
Provision for credit losses  $397,335   $239,516 
Schedule of aging analyses of past-due contract receivables
                             
As of March 31, 2026  30–59 Days   60–89 Days   90-119 Days   Greater Than
120 Days		   Total
Past-Due		   Current   Grand Total 
Premium finance contracts:                                   
Due from insured  $508,561   $10,087   $6,098   $7,777   $532,523   $75,150,877   $75,683,400 
Due from insurance carrier   798,900    616,304    1,178,487    2,935,320    5,529,011    2,060,118    7,589,129 
Total  $1,307,461   $626,391   $1,184,585   $2,943,097   $6,061,534   $77,210,995   $83,272,529 

                             
As of December 31, 2025  30–59 Days   60–89 Days   90-119 Days   120 Days   Past-Due   Current   Grand Total 
Premium finance contracts:                                   
Due from insured  $121,417   $21,018   $4,230   $15,145   $161,810   $69,188,996   $69,350,806 
Due from insurance carrier   631,883    635,401    568,894    2,497,849    4,334,027    2,945,801    7,279,828 
Total  $753,300   $656,419   $573,124   $2,512,994   $4,495,837   $72,134,797   $76,630,634 
Schedule of inactive agent receivables
         
   March 31, 2026   December 31, 2025 
 Receivables from active agents  $1,189,538   $997,452 
 Receivables from inactive agents   52,276    149,042 
           
 Total  $1,241,814   $1,146,494