pmlljl, What I think means nothing, but the polar bears says, "Strong growl" since it's trading below a very solid book value that is not stuffed with balance sheet fluff like goodwill, intangibles, and penguins. (Please don't tell the bear about the last word.)
It is just my guess, but if you look at the states where they get their business, you do not see California, Nevada, or Arizona. In addition, Florida is relatively minor as is New York. By luck or by choice, they have pretty much avoided the areas where real estate has appreciated too much and where lending was out of hand. Perhaps the good times will continue to roll for ITIC.