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

3 Months Ended

Mar. 31, 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:

	Three Months Ended March 31,
(in millions)	2022			2021
Balance at beginning of period	$	1,284		$	1,178
Provision related to:
Current year		115			135
Prior years		7			5
		122			140
Payments, net of recoveries, related to:
Current year		33			38
Prior years		68			80
		101			118
Other		(4	)		3
Balance at end of period	$	1,301		$	1,203

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

(dollars in millions)	March 31, 2022				December 31, 2021
Known title claims	$	77	5.9	%	$	67	5.2	%
Incurred but not reported claims		1,154	88.7	%		1,143	89.0	%
Total title claims		1,231	94.6	%		1,210	94.2	%
Non-title claims		70	5.4	%		74	5.8	%
Total loss reserves	$	1,301	100.0	%	$	1,284	100.0	%