Reserve for Known and Incurred But Not Reported Claims (Tables)

3 Months Ended

Mar. 31, 2023

Insurance Loss Reserves [Abstract]

Activity in Reserve for Known and Incurred but Not Reported Claims

Activity in the reserve for known and incurred but not reported claims is summarized as follows:

	Three Months Ended March 31,
(in millions)	2023			2022
Balance at beginning of period	$	1,325.3		$	1,283.8
Provision related to:
Current year		83.1			115.2
Prior years		(0.8	)		7.2
		82.3			122.4
Payments, net of recoveries, related to:
Current year		31.1			32.5
Prior years		64.1			68.3
		95.2			100.8
Other		2.1			(4.7	)
Balance at end of period	$	1,314.5		$	1,300.7

A summary of the Company’s loss reserves is as follows:

(dollars in millions)	March 31, 2023				December 31, 2022
Known title claims	$	61.2	4.6	%	$	62.1	4.7	%
Incurred but not reported claims		1,202.2	91.5	%		1,207.2	91.1	%
Total title claims		1,263.4	96.1	%		1,269.3	95.8	%
Non-title claims		51.1	3.9	%		56.0	4.2	%
Total loss reserves	$	1,314.5	100.0	%	$	1,325.3	100.0	%