XML 32 R23.htm IDEA: XBRL DOCUMENT v3.23.1

Reserves For Claims (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023 and the year ended December 31, 2022 is summarized as follows:

(in thousands)			March 31, 2023						December 31, 2022
Balance, beginning of period			$	37,192					$	36,754
Provision charged to operations			1,068						4,255
Payments of claims, net of recoveries			(1,342)						(3,817)
Balance, end of period			$	36,918					$	37,192

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, 2023						%						December 31, 2022						%
Known title claims			$	3,137					8.5						$	3,250					8.7
IBNR			33,781						91.5						33,942						91.3
Total reserve for claims			$	36,918					100.0						$	37,192					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:	dtr-types1: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
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480081/944-40-50-3

+ Details

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