CONIFER HOLDINGS, INC. – 10-Q – MANAGEMENT'S DISCUSSION AND Clothing ANALYSIS OF FINANCIAL CONDITION AND RESULTSOF OPERATIONS

Our expenses consist primarily of losses and loss adjustment expenses, agents’
commissions, and other underwriting and administrative expenses. We organize our
operations into three insurance businesses: commercial insurance lines, personal
insurance lines, and wholesale agency business. Together, the commercial and
personal lines refer to “underwriting” operations that take insurance risk, and
the wholesale agency business refers to non-risk insurance business. Through our commercial insurance product lines, we offer coverage for both
commercial property and commercial liability.