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Estimated title losses
 6 Months Ended
Jun. 30, 2019
Insurance [Abstract]  
Estimated title losses
Estimated title losses. A summary of estimated title losses for the six months ended June 30 is as follows:
 
2019
 
2018
 
($000 omitted)
Balances at January 1
461,560

 
480,990

Provisions:
 
 
 
Current year
33,833

 
41,372

Previous policy years
640

 
(3,694
)
Total provisions
34,473

 
37,678

Payments, net of recoveries:
 
 
 
Current year
(5,722
)
 
(5,263
)
Previous policy years
(39,929
)
 
(33,590
)
Total payments, net of recoveries
(45,651
)
 
(38,853
)
Effects of changes in foreign currency exchange rates
(174
)
 
(4,355
)
Balances at June 30
450,208

 
475,460

Loss ratios as a percentage of title operating revenues:
 
 
 
Current year provisions
4.1
%
 
4.6
%
Total provisions
4.1
%
 
4.2
%


Title loss provisions during 2019 decreased compared to 2018, primarily as a result of lower title premiums in 2019. During 2018, the Company recorded a $4.0 million net reduction in prior policy years' reserves, which was driven by its favorable loss experience. Claim payments increased during 2019 compared to 2018, primarily due to higher payments on existing non-large claims.