Reserve for Known and Incurred but Not Reported Claims (Tables)

9 Months Ended

Sep. 30, 2022

Insurance Loss Reserves [Abstract]

Activity in Reserve for Known and Incurred but Not Reported Claims

Activity in the reserve for known and incurred but not reported claims is summarized as follows:

	Nine Months Ended September 30,
(in millions)	2022			2021
Balance at beginning of period	$	1,284		$	1,178
Provision related to:
Current year		364			429
Prior years		16			17
		380			446
Payments, net of recoveries, related to:
Current year		168			204
Prior years		170			152
		338			356
Other		(12	)		(6	)
Balance at end of period	$	1,314		$	1,262

A summary of the Company’s loss reserves is as follows:

(dollars in millions)	September 30, 2022				December 31, 2021
Known title claims	$	61	4.6	%	$	67	5.2	%
Incurred but not reported claims		1,191	90.7	%		1,143	89.0	%
Total title claims		1,252	95.3	%		1,210	94.2	%
Non-title claims		62	4.7	%		74	5.8	%
Total loss reserves	$	1,314	100.0	%	$	1,284	100.0	%