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Reserves for Claims (Tables)

12 Months Ended

Dec. 31, 2018

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

Summary Of Transactions In Reserves For Claims

Changes in the reserve for claims for the years ended December 31 are summarized as follows based on the year in which the policies were written:

(in thousands)	2018				2017				2016
Balance, beginning of period	$	34,801			$	35,305			$	37,788
(Benefit) provision related to:
Current year	6,762				7,432				6,673
Prior years	(7,094		)		(4,121		)		(6,430		)
Total (benefit) provision charged to operations	(332		)		3,311				243
Claims paid, net of recoveries, related to:
Current year	(178		)		(75		)		(103		)
Prior years	(2,562		)		(3,740		)		(2,623		)
Total claims paid, net of recoveries	(2,740		)		(3,815		)		(2,726		)
Balance, end of year	$	31,729			$	34,801			$	35,305

Summary Of The Company's Loss Reserves

A summary of the Company’s reserve for claims, broken down into its components of known title claims and IBNR, follows:

(in thousands, except percentages)	2018				%		2017				%
Known title claims	$	3,007			9.5		$	4,646			13.4
IBNR	28,722				90.5		30,155				86.6
Total reserve for claims	$	31,729			100.0		$	34,801			100.0

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- Definition

Schedule of liability for unpaid claims and claims adjustment expense reported and incurred but not reported claims.

+ References

No definition available.

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- References

No definition available.

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- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=99382578&loc=d3e14764-158437

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