Reserves For Claims (Tables)

6 Months Ended

Jun. 30, 2013

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Summary Of Transactions In Reserves For Claims

Transactions in the reserves for claims for the six months ended June 30, 2013 and the year ended December 31, 2012 are summarized as follows:



	June 30, 2013			December 31, 2012
Balance, beginning of period	$	39,078,000		$	37,996,000
Provision, charged to operations	607,812			6,072,115
Payments of claims, net of recoveries	(918,812		)	(4,990,115		)
Ending balance	$	38,767,000		$	39,078,000

Summary Of The Company's Loss Reserves

A summary of the Company’s loss reserves, broken down into its components of known title claims and incurred but not reported claims (“IBNR”), follows:



	June 30, 2013		%	December 31, 2012		%
Known title claims	$	4,438,667	11.4	$	5,166,370	13.2
IBNR	34,328,333		88.6	33,911,630		86.8
Total loss reserves	$	38,767,000	100.0	$	39,078,000	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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