Estimated title losses

9 Months Ended

Sep. 30, 2023

Loss Contingency [Abstract]

Estimated title losses

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

	2023		2022
	($000 omitted)
Balances at January 1	549,448		549,614
Provisions:
Current year	59,036		81,108
Previous policy years	691		(3)
Total provisions	59,727		81,105
Payments, net of recoveries:
Current year	(12,911)		(14,191)
Previous policy years	(73,233)		(55,964)
Total payments, net of recoveries	(86,144)		(70,155)
Effects of changes in foreign currency exchange rates	(1,636)		(13,350)
Balances at September 30	521,395		547,214
Loss ratios as a percentage of title operating revenues:
Current year provisions	4.1	%	3.8	%
Total provisions	4.1	%	3.8	%