Perhaps you haven't heard . . . the residential real estate market crashed over the last two + years, is still floundering about in what hopefully looks to be a bottom, and ORI is in the business of title insurance and mortgage guarantee insurance.
The fear is that their reserves may not cover their exposure for the mortgage guarantee insurance they've written. Plus, overall the insurance business is highly competitive right now, and their margins have shrunk across all lines. I own the shares, and I've found management to be very conservative. I think they'll survive, and ultimately prosper. But, there's no way of knowing for sure. You can infer they're rock solid from a look at their balance sheet, but the issue lies in what expenses lurk that haven't yet been reserved for.