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Estimated title losses
 9 Months Ended
Sep. 30, 2017
Insurance [Abstract]  
Estimated title losses
Estimated title losses. A summary of estimated title losses for the nine months ended September 30 is as follows:
 
2017
 
2016
 
($000 omitted)
Balances at January 1
462,572

 
462,622

Provisions:
 
 
 
Current year
69,067

 
73,380

Previous policy years
1,524

 
(6,768
)
Total provisions
70,591

 
66,612

Payments, net of recoveries:
 
 
 
Current year
(10,403
)
 
(13,938
)
Previous policy years
(53,491
)
 
(57,410
)
Total payments, net of recoveries
(63,894
)
 
(71,348
)
Effects of changes in foreign currency exchange rates
6,576

 
2,814

Balances at September 30
475,845

 
460,700

Loss ratios as a percentage of title operating revenues:
 
 
 
Current year provisions
5.0
%
 
5.3
%
Total provisions
5.1
%
 
4.8
%

There were no significant adjustments to the loss provisioning rates or large claim reserves during the nine months ended September 30, 2017. In 2016, the Company decreased its loss provisioning rates and reserves related to certain existing large claims due to continued favorable policy loss experience. As a result, a $5.4 million net policy loss reserve reduction was recorded during the nine months ended September 30, 2016.