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


	Six Months Ended June 30,
(in millions)	2026			2025
Balance at beginning of period	$	1,169.6		$	1,193.4
Provision related to:
Current year		184.9			171.7
Prior years		(19.8	)		(19.7	)
		165.1			152.0
Payments, net of recoveries, related to:
Current year		79.4			69.3
Prior years		100.9			95.2
		180.3			164.5
Other		(2.8	)		8.4
Balance at end of period	$	1,151.6		$	1,189.3

The provision for title insurance losses, expressed as a percentage of title insurance premiums and escrow fees, was 3.0% for the three and six months ended June 30, 2026 and 2025.

The 3.0% loss provision rate for the three and six months ended June 30, 2026 reflects an ultimate loss rate of 3.75% for the 2026 policy year and reserve releases of 0.75%, or $11.3 million and $21.2 million, respectively, for prior policy years, all based on title insurance premiums and escrow fees for the three and six months ended June 30, 2026.

The 3.0% loss provision rate for the three and six months ended June 30, 2025 reflected an ultimate loss rate of 3.75% for the 2025 policy year and reserve releases of 0.75%, or $9.9 million and $18.3 million, respectively, for prior policy years, all based on title insurance premiums and escrow fees for the three and six months ended June 30, 2025.

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


(dollars in millions)	June 30, 2026				December 31, 2025
Known title claims	$	75.0	6.5	%	$	54.6	4.7	%
Incurred but not reported claims		1,053.9	91.5	%		1,095.9	93.7	%
Total title claims		1,128.9	98.0	%		1,150.5	98.4	%
Non-title claims		22.7	2.0	%		19.1	1.6	%
Total loss reserves	$	1,151.6	100.0	%	$	1,169.6	100.0	%