XML 65 R23.htm IDEA: XBRL DOCUMENT v3.20.1

Reserves For Claims (Tables)

3 Months Ended

Mar. 31, 2020

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

Summary Of Transactions In Reserves For Claims

Activity in the reserve for claims for the three-month period ended March 31, 2020 and the year ended December 31, 2019 are summarized as follows:

(in thousands)	March 31, 2020				December 31, 2019
Balance, beginning of period	$	31,333			$	31,729
Provision charged to operations	906				3,532
Payments of claims, net of recoveries	(832		)		(3,928		)
Balance, end of period	$	31,407			$	31,333

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)	March 31, 2020				%		December 31, 2019				%
Known title claims	$	3,596			11.4		$	3,799			12.1
IBNR	27,811				88.6		27,534				87.9
Total reserve for claims	$	31,407			100.0		$	31,333			100.0

X

- Definition

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

+ References

No definition available.

+ Details

Name:	itic_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseReportedAndIncurredButNotReportedClaimsTableTextBlock
Namespace Prefix:	itic_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_LiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpenseAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=116884095&loc=d3e14764-158437

+ Details

Name:	us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration