Investors Title Co. Message Board

Fidelity National Financial: page 24 or 33 in http://www.sec.gov/Archives/edgar/data/809398/000089256904000330/a97123e10vk.htm
Provisions for claims losses are between 5% and 6% of premiums written during the five years 1999 through 2003.

Investors Title: page 12, bottom left corner in http://www.invtitle.com/investor/2003annualreport/itic03ar.pdf

ITIC reserved over 10% of premiums written in 2001, 2002, and 2003.

Why over 10%? Look at Schedule V in
http://www.sec.gov/Archives/edgar/data/720858/000116923204002017/d59105_10-k.txt

Amounts paid for claims are a lot less that the amounts reserved in the years 2001-2003.

On page 2 of http://www.sec.gov/Archives/edgar/data/720858/000115752304007716/d60373_10-q.htm
#A8
we see ITIC reserving over 10% of premiums written during the first half of 2004. On page 7, it is revealed that the amount actually paid for claims is less than the amount reserved, although the amount paid is a greater percentage of the amount reserved than it is in 2001, 2002, and 2003.

Of the $30 million in reserves for claims, $26 million is not for specific claims. Page 16 of http://www.invtitle.com/investor/2003annualreport/itic03ar.pdf
specifies the periods during which ITIC anticipates that it will have to pay out the $30 million--for claims on policies currently in force, I guess, since premiums for new policies would be reserved as received.