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


	Nine Months Ended September 30,
(in millions)	2026			2025
Balance at beginning of period	$	1,169.6		$	1,193.4
Provision related to:
Current year		291.7			274.2
Prior years		(31.5	)		(31.4	)
		260.2			242.8
Payments, net of recoveries, related to:
Current year		144.1			128.7
Prior years		143.0			132.7
		287.1			261.4
Other		(8.1	)		4.5
Balance at end of period	$	1,134.6		$	1,179.3

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

The 3.0% loss provision rate for the three and nine months ended September 30, 2026 reflects an ultimate loss rate of 3.75% for the 2026 policy year and reserve releases of 0.75%, or $11.4 million and $32.5 million, respectively, for prior policy years, all based on title insurance premiums and escrow fees for the three and nine months ended September 30, 2026.

The 3.0% loss provision rate for the three and nine months ended September 30, 2025 reflected an ultimate loss rate of 3.75% for the 2025 policy year and reserve releases of 0.75%, or $10.5 million and $28.8 million, respectively, for prior policy years, all based on title insurance premiums and escrow fees for the three and nine months ended September 30, 2025.

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


(dollars in millions)	September 30, 2026				December 31, 2025
Known title claims	$	82.5	7.3	%	$	54.6	4.7	%
Incurred but not reported claims		1,031.2	90.9	%		1,095.9	93.7	%
Total title claims		1,113.7	98.2	%		1,150.5	98.4	%
Non-title claims		20.9	1.8	%		19.1	1.6	%
Total loss reserves	$	1,134.6	100.0	%	$	1,169.6	100.0	%