Leases

6 Months Ended

Jun. 30, 2026

12. Leases

The Company has various non-cancelable, long-term operating leases, the largest of which are for office space including the corporate headquarters, VIP claims centers and law offices. Other operating leases consist of auto leases and various office equipment. The Company has no finance leases. Our leases have remaining lease terms of one year to four years, some of which include options to extend the leases for up to five years.

In calculating lease liabilities the Company uses its incremental borrowing rate as of the application date based on original lease terms. The components of lease expense were as follows:

Three Months Ended June 30,

Six Months Ended June 30,

 

2026

2025

 

2026

2025

Operating lease cost

877

904

1,764

1,809

Other information related to leases was as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
		2026		2025			2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,049	$	1,058		$	2,107	$	2,117
Weighted average remaining lease term
Operating leases							2.47 Years		3.45 Years
Weighted average discount rate
Operating leases							2.46%		2.46%

Maturities of lease liabilities are as follows:


		Operating Leases
2026		$	2,109
2027			3,995
2028			3,924
Total lease payments			10,028
Less imputed interest			(255)
Total		$	9,773