Estimated title losses

6 Months Ended

Jun. 30, 2022

Loss Contingency [Abstract]

Estimated title losses

Estimated title losses. A summary of estimated title losses for the six months ended June 30 is as follows:

	2022		2021
	($000 omitted)
Balances at January 1	549,614		496,275
Provisions:
Current year	55,760		61,147
Previous policy years	(141)		1,195
Total provisions	55,619		62,342
Payments, net of recoveries:
Current year	(8,927)		(7,682)
Previous policy years	(29,790)		(28,438)
Total payments, net of recoveries	(38,717)		(36,120)
Effects of changes in foreign currency exchange rates	(3,835)		2,486
Balances at June 30	562,681		524,983
Loss ratios as a percentage of title operating revenues:
Current year provisions	3.8	%	4.5	%
Total provisions	3.8	%	4.6	%