Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 41

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 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 200% of the initial target awards. During the year ended
December 31, 2024, the previously recognized compensation expense related to the PSU awards granted during 2024 was reduced as a result
of a performance adjustment, and the compensation expense related to the PSU awards granted during 2023 was eliminated due to the Company's
expectation that the threshold performance goal will not be met.

At March 31, 2025, there was $207 of unrecognized
compensation cost related to outstanding PSUs. That cost is expected to be recognized over a weighted-average period of 1.91 years.

27 

  18.
  Allowance for Expected Credit Losses

Premiums Receivable

The following table presents the balances of premiums
and agents’ balances receivable, net of the allowance for expected credit losses as of March 31, 2025 and 2024, and the changes
in the allowance for expected credit losses for the three months ended March 31, 2025 and 2024, for continuing and discontinued operations.

    As of and For the Three Months
 Ended March 31, 2025  
    As of and For the Three Months 
Ended March 31, 2024 

    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 
    $52,907  
    $337  
    $56,154  
    $394 

    Current period charge for expected credit losses 
        
     (44) 
        
     (119)
  
    Write-offs of uncollectible premiums receivable 
        
     (61) 
        
     (59)

    Balance, end of period