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Reserves For Claims (Tables) | 3 Months Ended
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Mar. 31, 2024
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, 2024 and the year ended December 31, 2023 is summarized as follows:
(in thousands) | March 31, 2024 |  | December 31, 2023
Balance, beginning of period | $ | 37,147 |  |  | $ | 37,192 |
Provision charged to operations | 910 |  |  | 4,762 |
Payments of claims, net of recoveries | (741) |  |  | (4,807) |
Balance, end of period | $ | 37,316 |  |  | $ | 37,147 |
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, 2024 |  | % |  | December 31, 2023 |  | %
Known title claims | $ | 3,216 |  |  | 8.6 |  |  | $ | 2,855 |  |  | 7.7 |
IBNR | 34,100 |  |  | 91.4 |  |  | 34,292 |  |  | 92.3 |
Total reserve for claims | $ | 37,316 |  |  | 100.0 |  |  | $ | 37,147 |  |  | 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. + Details
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- References No definition available. + Details
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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 -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
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