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Reserves For Claims (Tables)

9 Months Ended

Sep. 30, 2012

Summary Of Transactions In Reserves For Claims


		September 30, 2012			December 31, 2011
Balance, beginning of period	$	37,996,000		$	38,198,700
Provision, charged to operations		4,424,523			3,342,427
Payments of claims, net of recoveries		(3,414,523	)		(3,545,127	)
Ending balance	$	39,006,000		$	37,996,000

Summary Of The Company's Loss Reserves


		September 30, 2012	%		December 31, 2011	%
Known title claims	$	5,925,874	15.2	$	6,233,501	16.4
IBNR		33,080,126	84.8		31,762,499	83.6
Total loss reserves	$	39,006,000	100.0	$	37,996,000	100.0

- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

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