Estimated title losses

3 Months Ended

Mar. 31, 2023

Loss Contingency [Abstract]

Estimated title losses

Estimated title losses. A summary of estimated title losses for the three months ended March 31 is as follows:

	2023		2022
	($000 omitted)
Balances at January 1	549,448		549,614
Provisions:
Current year	17,214		28,882
Previous policy years	460		339
Total provisions	17,674		29,221
Payments, net of recoveries:
Current year	(3,470)		(3,192)
Previous policy years	(30,001)		(17,070)
Total payments, net of recoveries	(33,471)		(20,262)
Effects of changes in foreign currency exchange rates	(236)		2,145
Balances at March 31	533,415		560,718
Loss ratios as a percentage of title operating revenues:
Current year provisions	3.8	%	4.0	%
Total provisions	3.9	%	4.0	%