Reserves For Claims (Tables)

12 Months Ended

Dec. 31, 2012

Summary Of Transactions In Reserves For Claims


		2012			2011
Balance, beginning of year	$	37,996,000		$	38,198,700
Provisions related to:
Current year		7,650,959			6,845,338
Prior years		(1,578,844	)		(3,502,911	)
Total provision charged to operations		6,072,115			3,342,427
Claims paid, net of recoveries, related to:
Current year		(76,288	)		(305,079	)
Prior years		(4,913,827	)		(3,240,048	)
Total claims paid, net of recoveries		(4,990,115	)		(3,545,127	)
Balance, end of year	$	39,078,000		$	37,996,000

Summary Of The Company's Loss Reserves


		2012	%			2011	%
Known title claims	$	5,166,370	13.2	%	$	6,233,501	16.4	%
IBNR		33,911,630	86.8	%		31,762,499	83.6	%
Total loss reserves	$	39,078,000	100.0	%	$	37,996,000	100.0	%

- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

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