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

9 Months Ended

Sep. 30, 2021

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:

	Nine Months Ended September 30,
(in thousands)	2021			2020
Balance at beginning of period	$	1,178,004		$	1,063,044
Provision related to:
Current year		428,501			379,987
Prior years		17,176			34,014
		445,677			414,001
Payments, net of recoveries, related to:
Current year		204,525			179,654
Prior years		151,920			163,067
		356,445			342,721
Other		(5,721	)		(3,882	)
Reclassification to liabilities previously held for sale		—			(60,583	)
Balance at end of period	$	1,261,515		$	1,069,859

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

(in thousands, except percentages)	September 30, 2021				December 31, 2020
Known title claims	$	67,487	5.4	%	$	64,601	5.5	%
Incurred but not reported claims		1,108,208	87.8	%		1,025,761	87.1	%
Total title claims		1,175,695	93.2	%		1,090,362	92.6	%
Non-title claims		85,820	6.8	%		87,642	7.4	%
Total loss reserves	$	1,261,515	100.0	%	$	1,178,004	100.0	%