Estimated title losses

6 Months Ended

Jun. 30, 2023

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:

	2023		2022
	($000 omitted)
Balances at January 1	549,448		549,614
Provisions:
Current year	36,773		55,760
Previous policy years	703		(141)
Total provisions	37,476		55,619
Payments, net of recoveries:
Current year	(6,990)		(8,927)
Previous policy years	(57,954)		(29,790)
Total payments, net of recoveries	(64,944)		(38,717)
Effects of changes in foreign currency exchange rates	2,161		(3,835)
Balances at June 30	524,141		562,681
Loss ratios as a percentage of title operating revenues:
Current year provisions	4.0	%	3.8	%
Total provisions	4.1	%	3.8	%