The Company presents its expenses in four major captions: loss and loss adjustment expenses, policy acquisition costs, general and administrative expenses and interest expense. The Company has presented the disaggregation of its general and administrative expenses below for the three and nine months ended September 30, 2025 and 2024 to enhance disclosure regarding its recast general and administrative expenses.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
General and Administrative Expenses
Employee compensation(1)	$	4,821		$	3,579		$	9,579		$	11,083
Depreciation and amortization		1,020			1,300			3,213			3,993
Association fees		920			812			2,937			2,649
Software & equipment costs		735			1,030			2,567			2,996
Professional services		1,066			876			2,725			3,113
Intangible asset amortization		609			610			1,828			2,030
Audit fees		446			(52	)		1,108			1,460
Liability insurance		412			483			1,158			1,515
Legal fees		147			284			523			1,771
Operating lease expense		107			58			332			103
Provision for (reversal of) expected credit losses		(5	)		(44	)		(62	)		(90	)
Other general and administrative(2)		1,043			1,353			2,697			2,856
Total general and administrative expenses	$	11,321		$	10,289		$	28,605		$	33,479

(1) For the nine months ended September 30, 2025, employee compensation includes $4.5 million, in one-time employee retention tax credit refunds.

(2) For the three and nine months ended September 30, 2025 and 2024, other general and administrative expenses were comprised primarily of regulatory fees, franchise fees, and overhead such as office utilities.