Investors Title (ITIC) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 15, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Entity Registrant Name	INVESTORS TITLE CO
Entity Central Index Key	720,858
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		1,931,334

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Investments in securities:
Fixed maturities, available-for-sale, at fair value (amortized cost: 2016: $101,325,609; 2015: $102,015,826)	$ 106,383,823	$ 106,066,384
Equity securities, available-for-sale, at fair value (cost: 2016: $23,962,393; 2015: $23,855,873)	37,681,569	37,513,464
Short-term investments	7,520,069	6,865,406
Other investments	8,814,605	10,106,828
Total investments	160,400,066	160,552,082
Cash and cash equivalents	21,873,731	21,790,068
Premium and fees receivable	6,940,127	8,392,697
Accrued interest and dividends	1,320,942	1,004,126
Prepaid expenses and other assets	8,267,670	12,634,105
Property, net	7,502,745	7,148,951
Current income taxes recoverable	1,036,309	0
Total Assets	207,341,590	211,522,029
Liabilities:
Reserves for claims	37,397,000	37,788,000
Accounts payable and accrued liabilities	18,768,195	25,043,588
Current income taxes payable	0	210,355
Deferred income taxes, net	7,762,160	5,703,006
Total liabilities	63,927,355	68,744,949
Commitments and Contingencies	0	0
Stockholders' Equity:
Preferred stock (1,000,000 authorized shares; no shares issued)	0	0
Common stock – no par value (10,000,000 authorized shares; 1,932,291 and 1,949,797 shares issued and outstanding 2016 and 2015, respectively, excluding 291,676 shares for 2016 and 2015 of common stock held by the Company's subsidiary)	1	1
Retained earnings	131,132,279	131,186,866
Accumulated other comprehensive income	12,184,336	11,483,015
Total stockholders’ equity attributable to the Company	143,316,616	142,669,882
Noncontrolling interests	97,619	107,198
Total stockholders' equity	143,414,235	142,777,080
Total Liabilities and Stockholders’ Equity	$ 207,341,590	$ 211,522,029

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Fixed maturities, available-for-sale, amortized cost	$ 101,325,609	$ 102,015,826
Equity securities, available-for-sale, cost	$ 23,962,393	$ 23,855,873
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, no par value
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	1,932,291	1,949,797
Common stock, shares outstanding	1,932,291	1,949,797
Common stock, held by Company's subsidiary	291,676	291,676

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Net premiums written	$ 21,508,997	$ 24,962,041
Investment income – interest and dividends	1,151,011	1,178,039
Net realized gain on investments	149,830	14,803
Other	2,052,184	2,146,926
Total Revenues	24,862,022	28,301,809
Operating Expenses:
Commissions to agents	11,532,882	14,596,539
Provision for claims	15,959	786,612
Salaries, employee benefits and payroll taxes	7,471,951	7,277,449
Office occupancy and operations	1,493,860	1,304,221
Business development	480,390	486,975
Filing fees, franchise and local taxes	230,054	216,643
Premium and retaliatory taxes	311,831	476,591
Professional and contract labor fees	538,653	584,107
Other	202,981	203,548
Total Operating Expenses	22,278,561	25,932,685
Income before Income Taxes	2,583,461	2,369,124
Provision for Income Taxes	779,000	643,000
Net Income	1,804,461	1,726,124
Net Loss Attributable to Noncontrolling Interests	(9,579)	0
Net Income Attributable to the Company	$ 1,814,040	$ 1,726,124
Basic Earnings per Common Share	$ 0.94	$ 0.86
Weighted Average Shares Outstanding – Basic	1,934,318	2,012,738
Diluted Earnings per Common Share	$ 0.93	$ 0.86
Weighted Average Shares Outstanding – Diluted	1,940,963	2,018,504
Cash Dividends Paid per Common Share	$ 0.16	$ 0.08

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 1,804,461	$ 1,726,124
Other comprehensive income, before tax:
Amortization related to prior year service cost	0	1,097
Amortization of unrecognized loss	2,235	879
Unrealized gains on investments arising during the period	1,212,525	287,765
Reclassification adjustment for sales of securities included in net income	(186,079)	(8,803)
Reclassification adjustment for write-downs of securities included in net income	42,794	0
Other comprehensive income, before tax	1,071,475	280,938
Income tax expense related to postretirement health benefits	760	672
Income tax expense related to unrealized gains on investments arising during the period	419,586	103,538
Income tax benefit related to reclassification adjustment for sales of securities included in net income	(64,860)	(3,009)
Income tax expense related to reclassification adjustment for write-downs of securities included in net income	14,668	0
Net income tax expense on other comprehensive income	370,154	101,201
Other comprehensive income	701,321	179,737
Comprehensive Income	2,505,782	1,905,861
Comprehensive loss attributable to noncontrolling interests	(9,579)	0
Comprehensive Income Attributable to the Company	$ 2,515,361	$ 1,905,861

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity - USD ($)	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income	Noncontrolling Interest [Member]
Balance, beginning of year at Dec. 31, 2014	$ 137,563,706	$ 1	$ 124,707,196	$ 12,856,509	$ 0
Balance, beginning of year, shares at Dec. 31, 2014		2,023,270
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company	1,726,124		1,726,124
Dividends	(160,957)		(160,957)
Shares of common stock repurchased and retired (in shares)		(15,036)
Shares of common stock repurchased and retired	(1,069,185)		(1,069,185)
Stock options and stock appreciation rights exercised (in shares)		2,192
Stock options and stock appreciation rights exercised	54,988		54,988
Share-based compensation expense	32,600		32,600
Amortization related to postretirement health benefits	1,304			1,304
Net unrealized gain on investments	178,433			178,433
Net loss attributable to noncontrolling interests	0
Income tax benefit from share-based compensation	26,875		26,875
Balance, end of year at Mar. 31, 2015	138,353,888	$ 1	125,317,641	13,036,246	0
Balance, end of year, shares at Mar. 31, 2015		2,010,426
Balance, beginning of year at Dec. 31, 2015	142,777,080	$ 1	131,186,866	11,483,015	107,198
Balance, beginning of year, shares at Dec. 31, 2015		1,949,797
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company	1,814,040		1,814,040
Dividends	(309,104)		(309,104)
Shares of common stock repurchased and retired (in shares)		(18,795)
Shares of common stock repurchased and retired	(1,626,668)		(1,626,668)
Stock options and stock appreciation rights exercised (in shares)		1,289
Stock options and stock appreciation rights exercised	(200)		(200)
Share-based compensation expense	35,053		35,053
Amortization related to postretirement health benefits	1,475			1,475
Net unrealized gain on investments	699,846			699,846
Net loss attributable to noncontrolling interests	(9,579)				(9,579)
Income tax benefit from share-based compensation	32,292		32,292
Balance, end of year at Mar. 31, 2016	$ 143,414,235	$ 1	$ 131,132,279	$ 12,184,336	$ 97,619
Balance, end of year, shares at Mar. 31, 2016		1,932,291

Consolidated Statements Of Sto7

Consolidated Statements Of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.16	$ 0.08

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Activities
Net income	$ 1,804,461	$ 1,726,124
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	342,590	220,321
Amortization, net	196,875	182,230
Amortization related to postretirement benefits obligation	2,235	1,976
Share-based compensation expense related to stock options	35,053	32,600
Net gain on the disposals of property	(3,701)	(18,891)
Net realized gain on investments	(149,830)	(14,803)
Net loss (earnings) from other investments	24,263	(246,105)
Provision for claims	15,959	786,612
Provision for deferred income taxes	1,689,000	296,000
Changes in assets and liabilities:
Decrease in receivables	1,452,570	304,994
Decrease (increase) in other assets	4,032,198	(664,709)
Increase in current income taxes recoverable	(1,036,309)	0
Decrease in accounts payable and accrued liabilities	(6,275,393)	(2,810,752)
(Increase) decrease in current income taxes payable	(210,355)	195,069
Payments of claims, net of recoveries	(406,959)	(400,612)
Net cash provided by (used in) operating activities	1,512,657	(409,946)
Investing Activities
Purchases of available-for-sale securities	(3,583,240)	(241,882)
Purchases of short-term investments	(1,974,677)	(2,184,144)
Purchases of other investments	(473,174)	(346,693)
Proceeds from sales and maturities of available-for-sale securities	4,130,767	3,056,743
Proceeds from sales and maturities of short-term investments	1,320,014	360,807
Proceeds from sales and distributions of other investments	1,741,134	1,304,877
Proceeds from sales of other assets	6,545	6,000
Purchases of property	(701,184)	(610,926)
Proceeds from the sale of property	8,501	26,000
Net cash provided by investing activities	474,686	1,370,782
Financing Activities
Repurchases of common stock	(1,626,668)	(1,069,185)
Exercises of stock options and SARs	(200)	54,988
Excess tax benefits related to exercise of stock options and SARs	32,292	26,875
Dividends paid	(309,104)	(160,957)
Net cash used in financing activities	(1,903,680)	(1,148,279)
Net Increase (Decrease) in Cash and Cash Equivalents	83,663	(187,443)
Cash and Cash Equivalents, Beginning of Period	21,790,068	15,826,515
Cash and Cash Equivalents, End of Period	21,873,731	15,639,072
Cash Paid During the Year for:
Income tax payments, net	1,926,400	125,000
Non cash net unrealized gain on investments, net of deferred tax benefit of $(369,394) and $(100,529) for 2016 and 2015, respectively	$ (699,846)	$ (178,433)

Consolidated Statements Of Cas9

Consolidated Statements Of Cash Flows (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Cash Flows [Abstract]
Non cash net unrealized gain on investments, deferred tax benefit	$ (369,394)	$ (100,529)

Basis Of Presentation And Signi

Basis Of Presentation And Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation And Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Reference should be made to the “Notes to Consolidated Financial Statements” appearing in the Annual Report on Form 10-K for the year ended December 31, 2015 of Investors Title Company (the “Company”) for a complete description of the Company’s significant accounting policies. Principles of Consolidation – The accompanying unaudited Consolidated Financial Statements include the accounts and operations of Investors Title Company and its subsidiaries, and have been prepared in accordance with generally accepted accounting principles for interim financial information, with the instructions to Form 10-Q and with Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted. Earnings attributable to noncontrolling interests in majority-owned insurance agencies, including redeemable noncontrolling interests, are recorded in the Consolidated Statements of Income. Noncontrolling interests representing the portion of equity not related to the Company's ownership interests are recorded in separate sections of the Consolidated Balance Sheets. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of the Company in the accompanying unaudited Consolidated Financial Statements have been included. All such adjustments are of a normal recurring nature. Operating results for the quarter ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . Allowance for Doubtful Accounts – Company management continually evaluates the collectability of receivables and provides an allowance for doubtful accounts equal to estimated losses expected to be incurred in the collection of premiums and fees receivable. Use of Estimates and Assumptions – The preparation of the Company’s Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used. Subsequent Events – The Company has concluded that there were no material subsequent events requiring adjustment to or disclosure in its Consolidated Financial Statements. Recently Issued Accounting Standards – In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2016-09, Compensation - Stock Compensation (Topic 718) . ASU 2016-09 updated guidance to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The amendments of this update are effective for annual periods beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that the recently issued accounting standard will have on the Company's financial position and results of operations, but does not expect it to have a material impact. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . ASU 2016-02 updated guidance to improve financial reporting for leasing transactions. The core principle of the guidance is that lessees will be required to recognize assets and liabilities on the balance sheet for all leases with terms of more than 12 months. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. The accounting applied by a lessor is largely unchanged from current GAAP, with some targeted improvements. Disclosures will be required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In transition, both lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The amendments of this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating whether or not the recently issued accounting standard will have a material impact on the Company's financial position or results of operations. In January 2016, the FASB issued ASU 2016-01, Financial Instruments─Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . ASU 2016-01 updated guidance to enhance the reporting model for financial instruments. Among the main principles of the guidance applicable to the Company are provisions to: require equity investments, except those accounted for under the equity method of accounting or those that result in consolidation of the investee, to be measured at fair value with changes in fair value recognized in net income; simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, noting that when a qualitative assessment indicates that impairment exists that an entity is required to measure the investment at fair value; eliminate the requirement to disclose methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost; require entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; require separate presentation of financial assets and financial liabilities by measuring category and form of financial asset on the balance sheet or accompanying notes to the financial statements; and clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The amendments of this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will be required to apply the amendments of this update by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with the amendments related to equity securities without readily determinable fair values being applied prospectively to equity investments that exist as of the date of adoption. The guidance is expected to have a material impact on the Company’s financial condition and results of operations once effective, primarily resulting from fluctuations in security exchanges or markets. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . ASU 2015-02 updated guidance to change the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and provide a scope exception from consolidation guidance for reporting entities that are required to comply with or operate in accordance with certain requirements similar to those for registered money market funds. For public entities, this update was effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The Company adopted this update on January 1, 2016 with no impact to the Company's financial position or results of operations. Certain investments previously considered voting interest entities are considered VIEs under this update. However, since the Company is not considered the primary beneficiary, none of the investments are consolidated. Refer to Note 7 for additional disclosure. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 updated guidance to improve the comparability of revenue recognition practices for entities that either enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards such as insurance contracts or lease standards. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public entities, this update originally became effective for interim and annual reporting periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date . ASU 2015-14 updated guidance to defer the effective date of the standard by one year. Early adoption is not permitted, although public entities are permitted to elect to adopt the amendments on the original effective date. The Company is currently evaluating the impact that the recently issued accounting standard will have on the Company's financial position and results of operations, but does not expect it to have a material impact.

Reserves For Claims

Reserves For Claims	3 Months Ended
	Mar. 31, 2016
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Reserves For Claims	Reserves for Claims Transactions in the reserves for claims for the three months ended March 31, 2016 and the year ended December 31, 2015 are summarized as follows: March 31, 2016 December 31, 2015 Balance, beginning of period $ 37,788,000 $ 36,677,000 Provision, charged to operations 15,959 4,478,494 Payments of claims, net of recoveries (406,959 ) (3,367,494 ) Ending balance $ 37,397,000 $ 37,788,000 The total reserve for all reported and unreported losses the Company incurred through March 31, 2016 is represented by the reserves for claims. The Company's reserves for unpaid losses and loss adjustment expenses are established using estimated amounts required to settle claims for which notice has been received (reported) and the amount estimated to be required to satisfy claims that have been incurred but not yet reported (“IBNR”). Despite the variability of such estimates, management believes that the reserves are adequate to cover claim losses which might result from pending and future claims under title insurance policies issued through March 31, 2016 . Management continually reviews and adjusts its reserve estimates to reflect its loss experience and any new information that becomes available. Adjustments resulting from such reviews may be significant. A summary of the Company’s loss reserves, broken down into its components of known title claims and IBNR, follows: March 31, 2016 % December 31, 2015 % Known title claims $ 4,965,800 13.3 $ 5,066,469 13.4 IBNR 32,431,200 86.7 32,721,531 86.6 Total loss reserves $ 37,397,000 100.0 $ 37,788,000 100.0 Claims and losses paid are charged to the reserves for claims. Although claims losses are typically paid in cash, occasionally claims are settled by purchasing the interest of the insured or the claimant in the real property. When this event occurs, the Company carries assets at the lower of cost or estimated realizable value, net of any indebtedness on the property.

Earnings Per Common Share And S

Earnings Per Common Share And Share Awards	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Common Share And Share Awards	Earnings Per Common Share and Share Awards Basic earnings per common share is computed by dividing net income attributable to the Company by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed by dividing net income attributable to the Company by the combination of dilutive potential common stock, comprised of shares issuable under the Company’s share-based compensation plans and the weighted average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money share-based awards, which are calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, when share-based awards are exercised, (a) the exercise price of a share-based award; (b) the amount of compensation cost, if any, for future services that the Company has not yet recognized; and (c) the amount of estimated tax benefits that would be recorded in retained earnings, if any, are assumed to be used to repurchase shares in the current period. The number of incremental dilutive potential common shares, calculated using the treasury stock method, was 6,645 and 5,766 for the three months ended March 31, 2016 and 2015 , respectively. The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31 : Three Months Ended March 31, 2016 2015 Net income attributable to the Company $ 1,814,040 $ 1,726,124 Weighted average common shares outstanding – Basic 1,934,318 2,012,738 Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled) 6,645 5,766 Weighted average common shares outstanding – Diluted 1,940,963 2,018,504 Basic earnings per common share $ 0.94 $ 0.86 Diluted earnings per common share $ 0.93 $ 0.86 There were no potential shares excluded from the computation of diluted earnings per share for the three months ended March 31, 2016 and 2015 , as all share-based awards were "in-the-money." The Company has adopted employee stock award plans under which restricted stock, and options or stock appreciation rights ("SARs") to acquire shares (not to exceed 500,000 shares) of the Company's stock, may be granted to key employees or directors of the Company at a price not less than the market value on the date of grant. SARs and options (which have predominantly been incentive stock options) awarded under the plans thus far generally expire in five to ten years from the date of grant and are exercisable and vest: immediately; within one year ; or at 10% to 20% per year beginning on the date of grant. All SARs issued to date have been share-settled only. A summary of share-based award transactions for all share-based award plans follows: Number Of Shares Weighted Average Exercise Price Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of January 1, 2015 21,000 $ 51.30 3.64 $ 453,510 SARs granted 4,500 73.00 SARs exercised (2,000 ) 47.88 Options exercised (1,500 ) 36.79 Outstanding as of December 31, 2015 22,000 $ 57.04 3.93 $ 945,055 SARs granted — — SARs exercised (2,000 ) 32.00 Outstanding as of March 31, 2016 20,000 $ 59.55 4.03 $ 630,455 Exercisable as of March 31, 2016 20,000 $ 59.55 4.03 $ 630,455 There was approximately $35,000 and $33,000 of compensation expense relating to SARs or options vesting on or before March 31, 2016 and 2015 , respectively, included in salaries, employee benefits and payroll taxes in the Consolidated Statements of Income. As of March 31, 2016 , there was no unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Company’s stock award plans. There have been no stock options or SARs granted where the exercise price was less than the market price on the date of grant.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has one reportable segment, title insurance services. The remaining immaterial segments have been combined into a group called “All Other.” The title insurance segment primarily issues title insurance policies through approved attorneys from underwriting offices and through independent issuing agents. Title insurance policies insure titles to real estate. Provided below is selected financial information about the Company's operations by segment for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Title Insurance All Other Intersegment Eliminations Total Insurance and other services revenues $ 22,391,723 $ 1,572,155 $ (402,697 ) $ 23,561,181 Investment income 1,054,786 142,893 (46,668 ) 1,151,011 Net realized gain on investments 93,929 55,901 — 149,830 Total revenues $ 23,540,438 $ 1,770,949 $ (449,365 ) $ 24,862,022 Operating expenses 21,096,917 1,566,921 (385,277 ) 22,278,561 Income before income taxes $ 2,443,521 $ 204,028 $ (64,088 ) $ 2,583,461 Total assets $ 159,904,411 $ 47,437,179 $ — $ 207,341,590 Three Months Ended March 31, 2015 Title All Intersegment Total Insurance and other services revenues $ 25,995,525 $ 1,464,157 $ (350,715 ) $ 27,108,967 Investment income 1,050,775 150,598 (23,334 ) 1,178,039 Net realized gain on investments 14,379 424 — 14,803 Total revenues $ 27,060,679 $ 1,615,179 $ (374,049 ) $ 28,301,809 Operating expenses 24,597,471 1,668,508 (333,294 ) 25,932,685 Income (loss) before income taxes $ 2,463,208 $ (53,329 ) $ (40,755 ) $ 2,369,124 Total assets $ 150,689,425 $ 46,307,485 $ — $ 196,996,910

Retirement Agreements And Other

Retirement Agreements And Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Retirement Agreements And Other Postretirement Benefits	Retirement Agreements and Other Postretirement Benefits The Company’s subsidiary, Investors Title Insurance Company ("ITIC"), is a party to employment agreements with key executives that provide for the continuation of certain employee benefits and other payments due under the agreements upon retirement, estimated to total $8,391,000 and $7,818,000 as of March 31, 2016 and December 31, 2015 , respectively. The executive employee benefits include health insurance, dental, vision and life insurance and are unfunded. These amounts are classified as accounts payable and accrued liabilities in the Consolidated Balance Sheets. The following sets forth the net periodic benefits cost for the executive benefits for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 2015 Service cost – benefits earned during the year $ 2,545 $ 4,187 Interest cost on the projected benefit obligation 8,781 7,693 Amortization of unrecognized prior service cost — 1,097 Amortization of unrecognized losses 2,235 879 Net periodic benefits costs $ 13,561 $ 13,856

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Valuation of Financial Assets and Liabilities The FASB has established a valuation hierarchy for disclosure of the inputs used to measure estimated fair value of financial assets and liabilities, such as securities. This hierarchy categorizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial instrument’s classification within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement – consequently, if there are multiple significant valuation inputs that are categorized in different levels of the hierarchy, the instrument’s hierarchy level is the lowest level (with Level 3 being the lowest level) within which any significant input falls. Debt and Equity Securities The Level 1 category includes equity securities that are measured at estimated fair value using quoted active market prices. The Level 2 category includes fixed maturity investments such as corporate bonds, U.S. government and agency bonds and municipal bonds. Estimated fair value is principally based on market values obtained from a third party pricing service. Factors that are used in determining estimated fair market value include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. The Company receives one quote per security from a third party pricing service, although as discussed below, the Company does consult other pricing resources when confirming that the prices it obtains reflect the fair values of the instruments in accordance with Accounting Standards Codification (“ASC”) 820 , Fair Value Measurements and Disclosures . Generally, quotes obtained from the pricing service for instruments classified as Level 2 are not adjusted and are not binding. As of March 31, 2016 and December 31, 2015 , the Company did not adjust any Level 2 fair values. A number of the Company’s investment grade corporate bonds are frequently traded in active markets, and trading prices are consequently available for these securities. However, these securities are classified as Level 2 because the pricing service from which the Company has obtained estimated fair values for these instruments uses valuation models that use observable market inputs in addition to trading prices. Substantially all of the input assumptions used in the service’s model are observable in the marketplace or can be derived or supported by observable market data. The Level 3 category only includes the Company's investments in student loan auction securities ("ARS") because quoted prices are unavailable due to failed auctions. The Company’s ARS portfolio, which was comprised entirely of an investment grade student loan ARS, was sold during the first quarter of 2016. The par value of this security was $1,000,000 as of December 31, 2015, with approximately 97.0% guaranteed by the U.S. Department of Education. Some of the inputs to ARS valuation are unobservable in the market and are significant – therefore, the Company utilized another third party pricing service to assist in the determination of the estimated fair market value of these securities. This service used a proprietary valuation model that considered factors such as the following: the financial standing of the issuer; reported prices and the extent of public trading in similar financial instruments of the issuer or comparable companies; the ability of the issuer to obtain required financing; changes in the economic conditions affecting the issuer; pricing by other dealers in similar securities; time to maturity; and interest rates. The pricing service provided a range of values to the Company for its ARS. The Company recorded the estimated fair value based on the midpoint of the range and believes that this valuation is the most reasonable estimate of fair value. In 2015 , the difference in the low and high values of the ranges was approximately one to four percent of the carrying value of the Company’s ARS. The following table presents, by level, the financial assets carried at estimated fair value measured on a recurring basis as of March 31, 2016 and December 31, 2015 . The table does not include cash on hand and also does not include assets that are measured at historical cost or any basis other than fair value. Level 3 assets are comprised solely of ARS. As of March 31, 2016 Level 1 Level 2 Level 3 Total Short-term investments $ 7,520,069 $ — $ — $ 7,520,069 Equity securities: Common stock 37,681,569 — — 37,681,569 Fixed maturities: Obligations of U.S. states, territories and political subdivisions* — 88,650,329 — 88,650,329 Corporate debt securities* — 17,733,494 — 17,733,494 Total $ 45,201,638 $ 106,383,823 $ — $ 151,585,461 As of December 31, 2015 Level 1 Level 2 Level 3 Total Short-term investments $ 6,865,406 $ — $ — $ 6,865,406 Equity securities: Common stock 37,513,464 — — 37,513,464 Fixed maturities: Obligations of U.S. states, territories and political subdivisions* — 87,640,140 — 87,640,140 Corporate debt securities* — 17,486,344 939,900 18,426,244 Total $ 44,378,870 $ 105,126,484 $ 939,900 $ 150,445,254 *Denotes fair market value obtained from pricing services. There were no transfers into or out of Levels 1, 2 or 3 during the period. To help ensure that fair value determinations are consistent with ASC 820, prices from our pricing services go through multiple review processes to ensure appropriate pricing. Pricing procedures and inputs used to price each security include, but are not limited to, the following: unadjusted quoted market prices for identical securities such as stock market closing prices; non-binding quoted prices for identical securities in markets that are not active; interest rates; yield curves observable at commonly quoted intervals; volatility; prepayment speeds; loss severity; credit risks and default rates. The Company reviews the procedures and inputs used by its pricing services, and verifies a sample of the services’ quotes by comparing them to values obtained from other pricing resources. In the event the Company disagrees with a price provided by its pricing services, the respective service reevaluates the price to corroborate the market information and then reviews inputs to the evaluation in light of potentially new market data. The Company believes that these processes and inputs result in appropriate classifications and fair values consistent with ASC 820. Other Financial Instruments The Company uses various financial instruments in the normal course of its business. In the measurement of the estimated fair value of certain financial instruments, other valuation techniques were utilized if quoted market prices were not available. These derived fair value estimates are significantly affected by the assumptions used. Additionally, ASC 820 excludes from its scope certain financial instruments, including those related to insurance contracts, pension and other postretirement benefits, and equity method investments. In estimating the fair value of the financial instruments presented, the Company used the following methods and assumptions: Cash and cash equivalents The carrying amount for cash and cash equivalents is a reasonable estimate of fair value due to the short-term maturity of these investments. Cost-basis investments The estimated fair value of cost-basis investments is calculated from the book value of the underlying entities, which is not materially different from the fair value of the underlying entity. These items are included in other investments in the Consolidated Balance Sheets. Accrued dividends and interest The carrying amount for accrued dividends and interest is a reasonable estimate of fair value due to the short-term maturity of these assets. The carrying amounts and estimated fair values of these financial instruments (please note investments carried at estimated fair value are disclosed in a previous table) as of March 31, 2016 and December 31, 2015 are presented in the following table: As of March 31, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash $ 21,873,731 $ 21,873,731 $ 21,873,731 $ — $ — Cost-basis investments 3,727,074 4,135,512 — — 4,135,512 Accrued dividends and interest 1,320,942 1,320,942 1,320,942 — — Total $ 26,921,747 $ 27,330,185 $ 23,194,673 $ — $ 4,135,512 As of December 31, 2015 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash $ 21,790,068 $ 21,790,068 $ 21,790,068 $ — $ — Cost-basis investments 3,588,314 3,684,020 — — 3,684,020 Accrued dividends and interest 1,004,126 1,004,126 1,004,126 — — Total $ 26,382,508 $ 26,478,214 $ 22,794,194 $ — $ 3,684,020 The following table presents a reconciliation of the Company’s assets measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3), which are all ARS securities, for the period ended March 31, 2016 and the year ended December 31, 2015 : Changes in fair value during the period ended: 2016 2015 Beginning balance at January 1 $ 939,900 $ 939,100 Redemptions and sales (1,000,000 ) — Realized gain – included in net realized gain on investments 74,996 — Unrealized (loss) gain – included in other comprehensive income (14,896 ) 800 Ending balance, net $ — $ 939,900 Certain cost-basis investments are measured at estimated fair value on a non-recurring basis, such as investments that are determined to be other-than-temporarily impaired during the period and recorded at estimated fair value in the Consolidated Financial Statements as of March 31, 2016 and December 31, 2015 . The following table summarizes the corresponding estimated fair value hierarchy of such investments at March 31, 2016 and December 31, 2015 and the related impairments recognized: As of March 31, 2016 Valuation Method Impaired Level 1 Level 2 Level 3 Total at Estimated Fair Value Impairment Losses Cost-basis investments Fair Value No $ — $ — $ — $ — $ — Total cost-basis investments $ — $ — $ — $ — $ — As of December 31, 2015 Valuation Method Impaired Level 1 Level 2 Level 3 Total at Estimated Fair Value Impairment Losses Cost-basis investments Fair Value Yes $ — $ — $ 163,350 $ 163,350 $ (233,069 ) Total cost-basis investments $ — $ — $ 163,350 $ 163,350 $ (233,069 )

Investments In Securities

Investments In Securities	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments In Securities	Investments Investments in Securities The aggregate estimated fair value, gross unrealized holding gains, gross unrealized holding losses and cost or amortized cost for securities by major security type are as follows: As of March 31, 2016 Amortized Cost Gross Gains Gross Unrealized Losses Estimated Fair Value Fixed maturities, available-for-sale, at fair value: General obligations of U.S. states, territories and political subdivisions $ 32,257,800 $ 1,110,229 $ 13,243 $ 33,354,786 Special revenue issuer obligations of U.S. states, territories and political subdivisions 52,061,731 3,234,721 909 55,295,543 Corporate debt securities 17,006,078 727,908 492 17,733,494 Total $ 101,325,609 $ 5,072,858 $ 14,644 $ 106,383,823 Equity securities, available-for-sale, at fair value: Common stocks $ 23,962,393 $ 13,807,635 $ 88,459 $ 37,681,569 Total $ 23,962,393 $ 13,807,635 $ 88,459 $ 37,681,569 Short-term investments: Money market funds and certificates of deposit $ 7,520,069 $ — $ — $ 7,520,069 Total $ 7,520,069 $ — $ — $ 7,520,069 As of December 31, 2015 Amortized Cost Gross Gains Gross Unrealized Losses Estimated Fair Value Fixed maturities, available-for-sale, at fair value: General obligations of U.S. states, territories and political subdivisions $ 31,883,439 $ 987,595 $ 11,734 $ 32,859,300 Special revenue issuer obligations of U.S. states, territories and political subdivisions 52,202,815 2,604,152 26,127 54,780,840 Corporate debt securities 17,004,985 539,832 58,473 17,486,344 Auction rate securities 924,587 15,313 — 939,900 Total $ 102,015,826 $ 4,146,892 $ 96,334 $ 106,066,384 Equity securities, available-for-sale, at fair value: Common stocks and nonredeemable preferred stocks $ 23,855,873 $ 13,785,968 $ 128,377 $ 37,513,464 Total $ 23,855,873 $ 13,785,968 $ 128,377 $ 37,513,464 Short-term investments: Money market funds and certificates of deposit $ 6,865,406 $ — $ — $ 6,865,406 Total $ 6,865,406 $ — $ — $ 6,865,406 The special revenue category for both periods presented includes at least 50 individual bonds with revenue sources from a variety of municipal sectors. The scheduled maturities of fixed maturity securities at March 31, 2016 were as follows: Available-for-Sale Amortized Cost Fair Value Due in one year or less $ 11,488,568 $ 11,607,930 Due after one year through five years 43,806,261 45,722,867 Due five years through ten years 44,039,421 46,529,077 Due after ten years 1,991,359 2,523,949 Total $ 101,325,609 $ 106,383,823 Realized gains and losses on investments for the three months ended March 31 are summarized as follows: 2016 2015 Gross realized gains from securities: Special revenue issuer obligations of U.S. states, territories and political subdivisions $ 160 $ — Corporate debt securities — 999 Common stocks and nonredeemable preferred stocks 227,960 8,200 Auction rate securities 74,996 — Total $ 303,116 $ 9,199 Gross realized losses from securities: General obligations of U.S. states, territories and political subdivisions $ — $ (396 ) Special revenue issuer obligations of U.S. states, territories and political subdivisions (85 ) — Common stocks and nonredeemable preferred stocks (116,952 ) — Other than temporary impairment of securities (42,794 ) — Total $ (159,831 ) $ (396 ) Net realized gain from securities $ 143,285 $ 8,803 Net realized gain on other investments: Gains on other investments 6,545 6,000 Total $ 6,545 $ 6,000 Net realized gain on investments $ 149,830 $ 14,803 Realized gains and losses are determined on the specific identification method. The following table presents the gross unrealized losses on investment securities and the fair value of the securities, aggregated by investment category and length of time that individual securities have been in a continuous loss position at March 31, 2016 and December 31, 2015 : Less than 12 Months 12 Months or Longer Total As of March 31, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses General obligations of U.S. states, territories and political subdivisions $ 1,122,050 $ (143 ) $ 1,070,310 $ (13,100 ) $ 2,192,360 $ (13,243 ) Special revenue issuer obligations of U.S. states, territories and political subdivisions 893,506 (909 ) — — 893,506 (909 ) Corporate debt securities 890,520 (492 ) — — 890,520 (492 ) Total fixed income securities $ 2,906,076 $ (1,544 ) $ 1,070,310 $ (13,100 ) $ 3,976,386 $ (14,644 ) Equity securities $ 2,123,918 $ (88,459 ) $ — $ — $ 2,123,918 $ (88,459 ) Total temporarily impaired securities $ 5,029,994 $ (90,003 ) $ 1,070,310 $ (13,100 ) $ 6,100,304 $ (103,103 ) Less than 12 Months 12 Months or Longer Total As of December 31, 2015 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses General obligations of U.S. states, territories and political subdivisions $ 1,758,345 $ (11,734 ) $ — $ — $ 1,758,345 $ (11,734 ) Special revenue issuer obligations of U.S. states, territories and political subdivisions 1,672,217 (5,139 ) 1,183,963 (20,989 ) 2,856,180 (26,128 ) Corporate debt securities 6,981,275 (58,472 ) — — 6,981,275 (58,472 ) Total fixed income securities $ 10,411,837 $ (75,345 ) $ 1,183,963 $ (20,989 ) $ 11,595,800 $ (96,334 ) Equity securities $ 5,533,667 $ (128,377 ) $ — $ — $ 5,533,667 $ (128,377 ) Total temporarily impaired securities $ 15,945,504 $ (203,722 ) $ 1,183,963 $ (20,989 ) $ 17,129,467 $ (224,711 ) As of March 31, 2016 , the Company held $3,976,386 in fixed maturity securities with unrealized losses of $14,644 . As of December 31, 2015 , the Company held $11,595,800 in fixed maturity securities with unrealized losses of $96,334 . The decline in fair value of the fixed maturity securities can be attributed primarily to changes in market interest rates and changes in credit spreads over Treasury securities. Because the Company does not have the intent to sell these securities and will likely not be compelled to sell them before it can recover its cost basis, the Company does not consider these investments to be other-than-temporarily impaired. As of March 31, 2016 , the Company held $2,123,918 in equity securities with unrealized losses of $88,459 . As of December 31, 2015 , the Company held $5,533,667 in equity securities with unrealized losses of $128,377 . The unrealized losses related to holdings of equity securities were caused by market changes that the Company considers to be temporary. Since the Company has the intent and ability to hold these equity securities until a recovery of fair value, the Company does not consider these investments other-than-temporarily impaired. Factors considered in determining whether a loss is temporary include the length of time and extent to which fair value has been below cost, the financial condition and prospects of the issuer (including credit ratings and analyst reports) and macro-economic changes. A total of 11 and 30 securities had unrealized losses at March 31, 2016 and December 31, 2015 , respectively. Reviews of the values of securities are inherently uncertain and the value of the investment may not fully recover, or may decline in future periods resulting in a realized loss. The Company recorded other-than-temporary impairment charges for debt and equity investments in the amount of $42,794 for the three months ended March 31, 2016 and no other-than-temporary impairment charges for debt and equity investments for the three months ended March 31, 2015. Other-than-temporary impairment charges are included in net realized gain on investments in the Consolidated Statements of Income. Variable Interest Entities The Company holds investments in VIEs that are not consolidated in the Company's financial statements as the Company is not the primary beneficiary. These entities are considered VIEs as the equity investors at risk, including the Company, do not have the power over the activities that most significantly impact the economic performance of the entities; this power resides with a third-party general partner or managing member that cannot be removed except for cause. The following table sets forth details about the Company's variable interest investments in VIEs as of March 31, 2016: Type of Investment Balance Sheet Classification Carrying Value Estimated Fair Value Maximum Potential Loss (a) Tax credit LP's Other investments $ 969,153 $ 969,153 $ 1,325,000 Real estate LLC's or LP's Other investments 3,481,576 3,688,921 6,150,000 Small business investment LP's Other investments 2,127,376 2,029,385 1,800,000 Total $ 6,578,105 $ 6,687,459 $ 9,275,000 (a) Maximum potential loss is calculated as the total investment in the LLC or LP including any capital commitments that may have not yet been called. The Company is not exposed to any loss beyond the total commitment of its investment.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments and Contingencies Legal Proceedings – The Company and its subsidiaries are involved in legal proceedings that are incidental to their business. In the Company’s opinion, based on the present status of these proceedings, any potential liability of the Company or its subsidiaries with respect to these legal proceedings, will not, in the aggregate, be material to the Company’s consolidated financial condition or operations. Regulation – The Company’s title insurance and trust subsidiaries are regulated by various federal, state and local governmental agencies and are subject to various audits and inquiries. It is the opinion of management based on its present expectations that these audits and inquiries will not have a material impact on the Company’s consolidated financial condition or operations. Escrow and Trust Deposits – As a service to its customers, the Company, through ITIC, administers escrow and trust deposits representing earnest money received under real estate contracts, undisbursed amounts received for settlement of mortgage loans and indemnities against specific title risks. These amounts are not considered assets of the Company and, therefore, are excluded from the accompanying Consolidated Balance Sheets. However, the Company remains contingently liable for the disposition of these deposits. Like-Kind Exchanges Proceeds – In administering tax-deferred property exchanges, the Company’s subsidiary, Investors Title Exchange Corporation (“ITEC”), serves as a qualified intermediary for exchanges, holding the net sales proceeds from relinquished property to be used for purchase of replacement property. Another Company subsidiary, Investors Title Accommodation Corporation (“ITAC”), serves as exchange accommodation titleholder and, through limited liability companies that are wholly owned subsidiaries of ITAC, holds property for exchangers in reverse exchange transactions. Like-kind exchange deposits and reverse exchange property totaled approximately $172,381,000 and $171,010,000 as of March 31, 2016 and December 31, 2015 , respectively. These amounts are not considered assets of the Company and, therefore, are excluded from the accompanying Consolidated Balance Sheets; however, the Company remains contingently liable for the disposition of the transfers of property, disbursements of proceeds and the return on the proceeds at the agreed upon rate. Exchange services revenues include earnings on these deposits; therefore, investment income is shown as other revenue rather than investment income. These like-kind exchange funds are primarily invested in money market and other short-term investments. Agency Relationship – On July 1, 2015, Title Resource Group LLC's wholly owned subsidiary, title insurer Texas American Title Company, acquired the assets of ITCOA, LLC, which does business throughout Texas as Independence Title. For the three months ended March 31, 2016 and the twelve months ended December 31, 2015 and 2014 , Independence Title originated 5.5% , 10.3% and 23.6% , respectively, of the net premiums written for the Company. Independence Title is under no legal commitment to remit a minimum amount of premiums to the Company, and could cease doing so at any time. A continued significant decline in business originated by Independence Title for the Company, whether due to that business being diverted to its new title insurer owner or otherwise, could have a material negative impact on the Company's premiums written. Any reduction in premiums would be largely offset by related reductions in commissions, premium and income taxes, the provision for claims and other operating expenses. The Company did not have any ownership interest in Independence Title before or after the July 1, 2015 acquisition by Texas American Title Company.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company does business with, and has investments in, unconsolidated limited liability companies that are primarily title insurance agencies. The Company utilizes the equity method to account for its investment in these limited liability companies. The following table sets forth the approximate values by year found within each financial statement classification: Financial Statement Classification, As of March 31, 2016 As of December 31, 2015 Consolidated Balance Sheets Other investments $ 5,088,000 $ 6,519,000 Premiums and fees receivable $ 71,000 $ 719,000 For the Three Months Ended Consolidated Statements of Income 2016 2015 Net premiums written $ 2,743,000 $ 3,056,000 Other income $ 126,000 $ 403,000 Commissions to agents $ 1,848,000 $ 2,132,000

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisition	Acquisitions Effective August 1, 2015, a subsidiary of the Company, ITIC, acquired a 20% ownership interest in 1st Investors Title Agency, LLC ("1st Investors") for a purchase price of $72,600 . 1st Investors, a Michigan limited liability company, is an insurance agency doing business in the State of Michigan. Prior to August 1, 2015, the Company had an ownership interest in 1st Investors of 45% . The Company's Consolidated Financial Statements include the accounts and operations of 1st Investors, based on the Company's resulting 65% ownership interest at August 1, 2015. ITIC's purchase of 1st Investors was accounted for using the acquisition method required by ASC 805, Business Combinations . There were no intangible assets or goodwill recorded as a result of the acquisition. A reconciliation of the noncontrolling interest equity of 1st Investors is presented in the Consolidated Statements of Stockholders' Equity. In January 2012 , ITIC entered into a membership interest purchase and sale agreement under which it agreed to acquire a majority ownership interest of United Title Agency Co., LLC (“United”). United, a Michigan limited liability company, is an insurance agency doing business in the State of Michigan. ITIC's purchase of United was accounted for using the acquisition method required by ASC 805, Business Combinations. On April 2, 2012 , ITIC purchased a 70% ownership interest in United, with both ITIC and the seller having the option to require ITIC to purchase the remaining 30% interest at a later date. ITIC purchased the 70% interest for a purchase price of $1,041,250 . On May 21, 2014, ITIC purchased the remaining 30% ownership interest in United for an additional $515,275 , making United a wholly owned subsidiary of ITIC. The Company recognized the required identifiable intangible assets of United. There was no goodwill recorded as a result of the acquisition. The fair values of intangible assets, all Level 3 inputs, are principally based on values obtained from a third party valuation service. At the closing of the initial acquisition, intangible assets included $645,685 relating to a non-compete contract resulting from the acquisition and $836,215 from referral relationships. The non-compete contract is being amortized over a 10 -year period using the straight-line method, starting at a future date when the related employment agreement is terminated. The referral relationships are being amortized over a 12 -year period using the straight-line method. At March 31, 2016 and December 31, 2015 , accumulated amortization of intangible assets was $278,736 and $261,315 , respectively. Net intangible assets of $1,203,164 and $1,220,585 are categorized as prepaid expenses and other assets in the Consolidated Balance Sheets as of March 31, 2016 and December 31, 2015 . In accordance with ASC 350, Intangibles – Goodwill and Other , management determined that no events or changes in circumstances occurred that would indicate the carrying amount may not be recoverable, and therefore determined that the intangible assets assigned to United were not impaired at March 31, 2016 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2016
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The following tables provide changes in the balances of each component of accumulated other comprehensive income, net of tax, for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Unrealized Gains and Losses On Available-for-Sale Securities Postretirement Benefits Plans Total Beginning balance at January 1 $ 11,597,741 $ (114,726 ) $ 11,483,015 Other comprehensive income before reclassifications 792,939 — 792,939 Amounts reclassified from accumulated other comprehensive income (93,093 ) 1,475 (91,618 ) Net current-period other comprehensive income 699,846 1,475 701,321 Ending balance $ 12,297,587 $ (113,251 ) $ 12,184,336 Three Months Ended March 31, 2015 Unrealized Gains and Losses On Available-for-Sale Securities Postretirement Benefits Plans Total Beginning balance at January 1 $ 12,934,497 $ (77,988 ) $ 12,856,509 Other comprehensive income before reclassifications 184,227 — 184,227 Amounts reclassified from accumulated other comprehensive income (5,794 ) 1,304 (4,490 ) Net current-period other comprehensive income 178,433 1,304 179,737 Ending balance $ 13,112,930 $ (76,684 ) $ 13,036,246 The following tables provide significant amounts reclassified out of each component of accumulated other comprehensive income for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ 186,079 Other-than-temporary impairments (42,794 ) Total $ 143,285 Net realized gain on investments Tax (50,192 ) Provision for Income Taxes Net of Tax $ 93,093 Amortization related to postretirement benefit plans: Unrecognized loss (2,235 ) Total $ (2,235 ) (a) Tax 760 Provision for Income Taxes Net of Tax $ (1,475 ) Reclassifications for the period $ 91,618 Three Months Ended March 31, 2015 Details about Accumulated Other Amount Reclassified from Affected Line Item in the Consolidated Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ 8,803 Other-than-temporary impairments — Total $ 8,803 Net realized gain on investments Tax (3,009 ) Provision for Income Taxes Net of Tax $ 5,794 Amortization related to postretirement benefit plans: Prior year service cost $ (1,097 ) Unrecognized loss (879 ) Total $ (1,976 ) (a) Tax 672 Provision for Income Taxes Net of Tax $ (1,304 ) Reclassifications for the period $ 4,490 (a) These accumulated other comprehensive income components are not reclassified to net income in their entirety in the same reporting period. The amounts are presented within salaries, employee benefits and payroll taxes on the Consolidated Statements of Income as amortized. Amortization and accretion related to postretirement benefit plans is included in the computation of net periodic pension costs, as discussed in Note 5.

Basis Of Presentation And Sig21

Basis Of Presentation And Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles Of Consolidation	Principles of Consolidation – The accompanying unaudited Consolidated Financial Statements include the accounts and operations of Investors Title Company and its subsidiaries, and have been prepared in accordance with generally accepted accounting principles for interim financial information, with the instructions to Form 10-Q and with Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted. Earnings attributable to noncontrolling interests in majority-owned insurance agencies, including redeemable noncontrolling interests, are recorded in the Consolidated Statements of Income. Noncontrolling interests representing the portion of equity not related to the Company's ownership interests are recorded in separate sections of the Consolidated Balance Sheets. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of the Company in the accompanying unaudited Consolidated Financial Statements have been included. All such adjustments are of a normal recurring nature. Operating results for the quarter ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 .
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Allowance for Doubtful Accounts – Company management continually evaluates the collectability of receivables and provides an allowance for doubtful accounts equal to estimated losses expected to be incurred in the collection of premiums and fees receivable.
Use Of Estimates And Assumptions	Use of Estimates and Assumptions – The preparation of the Company’s Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used.
Subsequent Events	Subsequent Events – The Company has concluded that there were no material subsequent events requiring adjustment to or disclosure in its Consolidated Financial Statements.
Recently Issued Accounting Standards	Recently Issued Accounting Standards – In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2016-09, Compensation - Stock Compensation (Topic 718) . ASU 2016-09 updated guidance to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The amendments of this update are effective for annual periods beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that the recently issued accounting standard will have on the Company's financial position and results of operations, but does not expect it to have a material impact. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . ASU 2016-02 updated guidance to improve financial reporting for leasing transactions. The core principle of the guidance is that lessees will be required to recognize assets and liabilities on the balance sheet for all leases with terms of more than 12 months. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. The accounting applied by a lessor is largely unchanged from current GAAP, with some targeted improvements. Disclosures will be required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In transition, both lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The amendments of this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating whether or not the recently issued accounting standard will have a material impact on the Company's financial position or results of operations. In January 2016, the FASB issued ASU 2016-01, Financial Instruments─Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . ASU 2016-01 updated guidance to enhance the reporting model for financial instruments. Among the main principles of the guidance applicable to the Company are provisions to: require equity investments, except those accounted for under the equity method of accounting or those that result in consolidation of the investee, to be measured at fair value with changes in fair value recognized in net income; simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, noting that when a qualitative assessment indicates that impairment exists that an entity is required to measure the investment at fair value; eliminate the requirement to disclose methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost; require entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; require separate presentation of financial assets and financial liabilities by measuring category and form of financial asset on the balance sheet or accompanying notes to the financial statements; and clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The amendments of this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will be required to apply the amendments of this update by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with the amendments related to equity securities without readily determinable fair values being applied prospectively to equity investments that exist as of the date of adoption. The guidance is expected to have a material impact on the Company’s financial condition and results of operations once effective, primarily resulting from fluctuations in security exchanges or markets. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . ASU 2015-02 updated guidance to change the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities; eliminate the presumption that a general partner should consolidate a limited partnership; affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and provide a scope exception from consolidation guidance for reporting entities that are required to comply with or operate in accordance with certain requirements similar to those for registered money market funds. For public entities, this update was effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The Company adopted this update on January 1, 2016 with no impact to the Company's financial position or results of operations. Certain investments previously considered voting interest entities are considered VIEs under this update. However, since the Company is not considered the primary beneficiary, none of the investments are consolidated. Refer to Note 7 for additional disclosure. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 updated guidance to improve the comparability of revenue recognition practices for entities that either enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards such as insurance contracts or lease standards. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public entities, this update originally became effective for interim and annual reporting periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date . ASU 2015-14 updated guidance to defer the effective date of the standard by one year. Early adoption is not permitted, although public entities are permitted to elect to adopt the amendments on the original effective date. The Company is currently evaluating the impact that the recently issued accounting standard will have on the Company's financial position and results of operations, but does not expect it to have a material impact.

Reserves For Claims (Tables)

Reserves For Claims (Tables)	3 Months Ended
	Mar. 31, 2016
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Summary Of Transactions In Reserves For Claims	Transactions in the reserves for claims for the three months ended March 31, 2016 and the year ended December 31, 2015 are summarized as follows: March 31, 2016 December 31, 2015 Balance, beginning of period $ 37,788,000 $ 36,677,000 Provision, charged to operations 15,959 4,478,494 Payments of claims, net of recoveries (406,959 ) (3,367,494 ) Ending balance $ 37,397,000 $ 37,788,000
Summary Of The Company's Loss Reserves	A summary of the Company’s loss reserves, broken down into its components of known title claims and IBNR, follows: March 31, 2016 % December 31, 2015 % Known title claims $ 4,965,800 13.3 $ 5,066,469 13.4 IBNR 32,431,200 86.7 32,721,531 86.6 Total loss reserves $ 37,397,000 100.0 $ 37,788,000 100.0

Earnings Per Common Share And23

Earnings Per Common Share And Share Awards (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31 : Three Months Ended March 31, 2016 2015 Net income attributable to the Company $ 1,814,040 $ 1,726,124 Weighted average common shares outstanding – Basic 1,934,318 2,012,738 Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share-settled) 6,645 5,766 Weighted average common shares outstanding – Diluted 1,940,963 2,018,504 Basic earnings per common share $ 0.94 $ 0.86 Diluted earnings per common share $ 0.93 $ 0.86
Summary Of Share-Based Award Transactions	A summary of share-based award transactions for all share-based award plans follows: Number Of Shares Weighted Average Exercise Price Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of January 1, 2015 21,000 $ 51.30 3.64 $ 453,510 SARs granted 4,500 73.00 SARs exercised (2,000 ) 47.88 Options exercised (1,500 ) 36.79 Outstanding as of December 31, 2015 22,000 $ 57.04 3.93 $ 945,055 SARs granted — — SARs exercised (2,000 ) 32.00 Outstanding as of March 31, 2016 20,000 $ 59.55 4.03 $ 630,455 Exercisable as of March 31, 2016 20,000 $ 59.55 4.03 $ 630,455

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Selected Financial Information About The Company's Operations By Segment	Provided below is selected financial information about the Company's operations by segment for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Title Insurance All Other Intersegment Eliminations Total Insurance and other services revenues $ 22,391,723 $ 1,572,155 $ (402,697 ) $ 23,561,181 Investment income 1,054,786 142,893 (46,668 ) 1,151,011 Net realized gain on investments 93,929 55,901 — 149,830 Total revenues $ 23,540,438 $ 1,770,949 $ (449,365 ) $ 24,862,022 Operating expenses 21,096,917 1,566,921 (385,277 ) 22,278,561 Income before income taxes $ 2,443,521 $ 204,028 $ (64,088 ) $ 2,583,461 Total assets $ 159,904,411 $ 47,437,179 $ — $ 207,341,590 Three Months Ended March 31, 2015 Title All Intersegment Total Insurance and other services revenues $ 25,995,525 $ 1,464,157 $ (350,715 ) $ 27,108,967 Investment income 1,050,775 150,598 (23,334 ) 1,178,039 Net realized gain on investments 14,379 424 — 14,803 Total revenues $ 27,060,679 $ 1,615,179 $ (374,049 ) $ 28,301,809 Operating expenses 24,597,471 1,668,508 (333,294 ) 25,932,685 Income (loss) before income taxes $ 2,463,208 $ (53,329 ) $ (40,755 ) $ 2,369,124 Total assets $ 150,689,425 $ 46,307,485 $ — $ 196,996,910

Retirement Agreements And Oth25

Retirement Agreements And Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Components Of Net Periodic Benefits Cost	The following sets forth the net periodic benefits cost for the executive benefits for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 2015 Service cost – benefits earned during the year $ 2,545 $ 4,187 Interest cost on the projected benefit obligation 8,781 7,693 Amortization of unrecognized prior service cost — 1,097 Amortization of unrecognized losses 2,235 879 Net periodic benefits costs $ 13,561 $ 13,856

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Assets Measured On Recurring Basis	The following table presents, by level, the financial assets carried at estimated fair value measured on a recurring basis as of March 31, 2016 and December 31, 2015 . The table does not include cash on hand and also does not include assets that are measured at historical cost or any basis other than fair value. Level 3 assets are comprised solely of ARS. As of March 31, 2016 Level 1 Level 2 Level 3 Total Short-term investments $ 7,520,069 $ — $ — $ 7,520,069 Equity securities: Common stock 37,681,569 — — 37,681,569 Fixed maturities: Obligations of U.S. states, territories and political subdivisions* — 88,650,329 — 88,650,329 Corporate debt securities* — 17,733,494 — 17,733,494 Total $ 45,201,638 $ 106,383,823 $ — $ 151,585,461 As of December 31, 2015 Level 1 Level 2 Level 3 Total Short-term investments $ 6,865,406 $ — $ — $ 6,865,406 Equity securities: Common stock 37,513,464 — — 37,513,464 Fixed maturities: Obligations of U.S. states, territories and political subdivisions* — 87,640,140 — 87,640,140 Corporate debt securities* — 17,486,344 939,900 18,426,244 Total $ 44,378,870 $ 105,126,484 $ 939,900 $ 150,445,254 *Denotes fair market value obtained from pricing services.
Schedule Of Carrying Value And Fair Value Of Financial Assets Disclosed	The carrying amounts and estimated fair values of these financial instruments (please note investments carried at estimated fair value are disclosed in a previous table) as of March 31, 2016 and December 31, 2015 are presented in the following table: As of March 31, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash $ 21,873,731 $ 21,873,731 $ 21,873,731 $ — $ — Cost-basis investments 3,727,074 4,135,512 — — 4,135,512 Accrued dividends and interest 1,320,942 1,320,942 1,320,942 — — Total $ 26,921,747 $ 27,330,185 $ 23,194,673 $ — $ 4,135,512 As of December 31, 2015 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Cash $ 21,790,068 $ 21,790,068 $ 21,790,068 $ — $ — Cost-basis investments 3,588,314 3,684,020 — — 3,684,020 Accrued dividends and interest 1,004,126 1,004,126 1,004,126 — — Total $ 26,382,508 $ 26,478,214 $ 22,794,194 $ — $ 3,684,020
Schedule Of Fair Value Assets Measured At Unobservable Inputs Reconciliation	The following table presents a reconciliation of the Company’s assets measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3), which are all ARS securities, for the period ended March 31, 2016 and the year ended December 31, 2015 : Changes in fair value during the period ended: 2016 2015 Beginning balance at January 1 $ 939,900 $ 939,100 Redemptions and sales (1,000,000 ) — Realized gain – included in net realized gain on investments 74,996 — Unrealized (loss) gain – included in other comprehensive income (14,896 ) 800 Ending balance, net $ — $ 939,900
Schedule Of Estimated Fair Value Hierarchy Of Investments And Related Impairments Recognized	The following table summarizes the corresponding estimated fair value hierarchy of such investments at March 31, 2016 and December 31, 2015 and the related impairments recognized: As of March 31, 2016 Valuation Method Impaired Level 1 Level 2 Level 3 Total at Estimated Fair Value Impairment Losses Cost-basis investments Fair Value No $ — $ — $ — $ — $ — Total cost-basis investments $ — $ — $ — $ — $ — As of December 31, 2015 Valuation Method Impaired Level 1 Level 2 Level 3 Total at Estimated Fair Value Impairment Losses Cost-basis investments Fair Value Yes $ — $ — $ 163,350 $ 163,350 $ (233,069 ) Total cost-basis investments $ — $ — $ 163,350 $ 163,350 $ (233,069 )

Investments In Securities (Tabl

Investments In Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule Of Gross Unrealized Gains And Losses And Amortized Cost For Securities	The aggregate estimated fair value, gross unrealized holding gains, gross unrealized holding losses and cost or amortized cost for securities by major security type are as follows: As of March 31, 2016 Amortized Cost Gross Gains Gross Unrealized Losses Estimated Fair Value Fixed maturities, available-for-sale, at fair value: General obligations of U.S. states, territories and political subdivisions $ 32,257,800 $ 1,110,229 $ 13,243 $ 33,354,786 Special revenue issuer obligations of U.S. states, territories and political subdivisions 52,061,731 3,234,721 909 55,295,543 Corporate debt securities 17,006,078 727,908 492 17,733,494 Total $ 101,325,609 $ 5,072,858 $ 14,644 $ 106,383,823 Equity securities, available-for-sale, at fair value: Common stocks $ 23,962,393 $ 13,807,635 $ 88,459 $ 37,681,569 Total $ 23,962,393 $ 13,807,635 $ 88,459 $ 37,681,569 Short-term investments: Money market funds and certificates of deposit $ 7,520,069 $ — $ — $ 7,520,069 Total $ 7,520,069 $ — $ — $ 7,520,069 As of December 31, 2015 Amortized Cost Gross Gains Gross Unrealized Losses Estimated Fair Value Fixed maturities, available-for-sale, at fair value: General obligations of U.S. states, territories and political subdivisions $ 31,883,439 $ 987,595 $ 11,734 $ 32,859,300 Special revenue issuer obligations of U.S. states, territories and political subdivisions 52,202,815 2,604,152 26,127 54,780,840 Corporate debt securities 17,004,985 539,832 58,473 17,486,344 Auction rate securities 924,587 15,313 — 939,900 Total $ 102,015,826 $ 4,146,892 $ 96,334 $ 106,066,384 Equity securities, available-for-sale, at fair value: Common stocks and nonredeemable preferred stocks $ 23,855,873 $ 13,785,968 $ 128,377 $ 37,513,464 Total $ 23,855,873 $ 13,785,968 $ 128,377 $ 37,513,464 Short-term investments: Money market funds and certificates of deposit $ 6,865,406 $ — $ — $ 6,865,406 Total $ 6,865,406 $ — $ — $ 6,865,406
Schedule Of Fixed Maturity Securities	The scheduled maturities of fixed maturity securities at March 31, 2016 were as follows: Available-for-Sale Amortized Cost Fair Value Due in one year or less $ 11,488,568 $ 11,607,930 Due after one year through five years 43,806,261 45,722,867 Due five years through ten years 44,039,421 46,529,077 Due after ten years 1,991,359 2,523,949 Total $ 101,325,609 $ 106,383,823
Schedule Of Gross Realized Gains And Losses On Securities	Realized gains and losses on investments for the three months ended March 31 are summarized as follows: 2016 2015 Gross realized gains from securities: Special revenue issuer obligations of U.S. states, territories and political subdivisions $ 160 $ — Corporate debt securities — 999 Common stocks and nonredeemable preferred stocks 227,960 8,200 Auction rate securities 74,996 — Total $ 303,116 $ 9,199 Gross realized losses from securities: General obligations of U.S. states, territories and political subdivisions $ — $ (396 ) Special revenue issuer obligations of U.S. states, territories and political subdivisions (85 ) — Common stocks and nonredeemable preferred stocks (116,952 ) — Other than temporary impairment of securities (42,794 ) — Total $ (159,831 ) $ (396 ) Net realized gain from securities $ 143,285 $ 8,803 Net realized gain on other investments: Gains on other investments 6,545 6,000 Total $ 6,545 $ 6,000 Net realized gain on investments $ 149,830 $ 14,803
Schedule Of Unrealized Losses On Investments	The following table presents the gross unrealized losses on investment securities and the fair value of the securities, aggregated by investment category and length of time that individual securities have been in a continuous loss position at March 31, 2016 and December 31, 2015 : Less than 12 Months 12 Months or Longer Total As of March 31, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses General obligations of U.S. states, territories and political subdivisions $ 1,122,050 $ (143 ) $ 1,070,310 $ (13,100 ) $ 2,192,360 $ (13,243 ) Special revenue issuer obligations of U.S. states, territories and political subdivisions 893,506 (909 ) — — 893,506 (909 ) Corporate debt securities 890,520 (492 ) — — 890,520 (492 ) Total fixed income securities $ 2,906,076 $ (1,544 ) $ 1,070,310 $ (13,100 ) $ 3,976,386 $ (14,644 ) Equity securities $ 2,123,918 $ (88,459 ) $ — $ — $ 2,123,918 $ (88,459 ) Total temporarily impaired securities $ 5,029,994 $ (90,003 ) $ 1,070,310 $ (13,100 ) $ 6,100,304 $ (103,103 ) Less than 12 Months 12 Months or Longer Total As of December 31, 2015 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses General obligations of U.S. states, territories and political subdivisions $ 1,758,345 $ (11,734 ) $ — $ — $ 1,758,345 $ (11,734 ) Special revenue issuer obligations of U.S. states, territories and political subdivisions 1,672,217 (5,139 ) 1,183,963 (20,989 ) 2,856,180 (26,128 ) Corporate debt securities 6,981,275 (58,472 ) — — 6,981,275 (58,472 ) Total fixed income securities $ 10,411,837 $ (75,345 ) $ 1,183,963 $ (20,989 ) $ 11,595,800 $ (96,334 ) Equity securities $ 5,533,667 $ (128,377 ) $ — $ — $ 5,533,667 $ (128,377 ) Total temporarily impaired securities $ 15,945,504 $ (203,722 ) $ 1,183,963 $ (20,989 ) $ 17,129,467 $ (224,711 )
Schedule of Variable Interest Entities	The following table sets forth details about the Company's variable interest investments in VIEs as of March 31, 2016: Type of Investment Balance Sheet Classification Carrying Value Estimated Fair Value Maximum Potential Loss (a) Tax credit LP's Other investments $ 969,153 $ 969,153 $ 1,325,000 Real estate LLC's or LP's Other investments 3,481,576 3,688,921 6,150,000 Small business investment LP's Other investments 2,127,376 2,029,385 1,800,000 Total $ 6,578,105 $ 6,687,459 $ 9,275,000 (a) Maximum potential loss is calculated as the total investment in the LLC or LP including any capital commitments that may have not yet been called. The Company is not exposed to any loss beyond the total commitment of its investment.

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Summary Of Approximate Values By Year Found Within Consolidated Balance Sheets	Financial Statement Classification, As of March 31, 2016 As of December 31, 2015 Consolidated Balance Sheets Other investments $ 5,088,000 $ 6,519,000 Premiums and fees receivable $ 71,000 $ 719,000
Summary Of Approximate Values By Year Found Within Consolidated Statements Of Income	For the Three Months Ended Consolidated Statements of Income 2016 2015 Net premiums written $ 2,743,000 $ 3,056,000 Other income $ 126,000 $ 403,000 Commissions to agents $ 1,848,000 $ 2,132,000

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2016
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of Changes In Balances Of Each Component Of Accumulated Other Comprehensive Income, Net Of Tax	The following tables provide changes in the balances of each component of accumulated other comprehensive income, net of tax, for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Unrealized Gains and Losses On Available-for-Sale Securities Postretirement Benefits Plans Total Beginning balance at January 1 $ 11,597,741 $ (114,726 ) $ 11,483,015 Other comprehensive income before reclassifications 792,939 — 792,939 Amounts reclassified from accumulated other comprehensive income (93,093 ) 1,475 (91,618 ) Net current-period other comprehensive income 699,846 1,475 701,321 Ending balance $ 12,297,587 $ (113,251 ) $ 12,184,336 Three Months Ended March 31, 2015 Unrealized Gains and Losses On Available-for-Sale Securities Postretirement Benefits Plans Total Beginning balance at January 1 $ 12,934,497 $ (77,988 ) $ 12,856,509 Other comprehensive income before reclassifications 184,227 — 184,227 Amounts reclassified from accumulated other comprehensive income (5,794 ) 1,304 (4,490 ) Net current-period other comprehensive income 178,433 1,304 179,737 Ending balance $ 13,112,930 $ (76,684 ) $ 13,036,246
Schedule Of Reclassification Out Of Accumulated Other Comprehensive Income	The following tables provide significant amounts reclassified out of each component of accumulated other comprehensive income for the periods ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ 186,079 Other-than-temporary impairments (42,794 ) Total $ 143,285 Net realized gain on investments Tax (50,192 ) Provision for Income Taxes Net of Tax $ 93,093 Amortization related to postretirement benefit plans: Unrecognized loss (2,235 ) Total $ (2,235 ) (a) Tax 760 Provision for Income Taxes Net of Tax $ (1,475 ) Reclassifications for the period $ 91,618 Three Months Ended March 31, 2015 Details about Accumulated Other Amount Reclassified from Affected Line Item in the Consolidated Unrealized gains and losses on available-for-sale securities: Net realized gain on investments $ 8,803 Other-than-temporary impairments — Total $ 8,803 Net realized gain on investments Tax (3,009 ) Provision for Income Taxes Net of Tax $ 5,794 Amortization related to postretirement benefit plans: Prior year service cost $ (1,097 ) Unrecognized loss (879 ) Total $ (1,976 ) (a) Tax 672 Provision for Income Taxes Net of Tax $ (1,304 ) Reclassifications for the period $ 4,490 (a) These accumulated other comprehensive income components are not reclassified to net income in their entirety in the same reporting period. The amounts are presented within salaries, employee benefits and payroll taxes on the Consolidated Statements of Income as amortized. Amortization and accretion related to postretirement benefit plans is included in the computation of net periodic pension costs, as discussed in Note 5.

Reserves For Claims Summary Of

Reserves For Claims Summary Of Transactions In Reserves For Claims (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Liability for Title Claims and Claims Adjustment Expense	$ 37,397,000	$ 37,788,000	$ 36,677,000
Provision, charged to operations	15,959	4,478,494
Payments of claims, net of recoveries	$ (406,959)	$ (3,367,494)

Reserves For Claims Summary O31

Reserves For Claims Summary Of The Company's Loss Reserves (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Known title claims	$ 4,965,800	$ 5,066,469
IBNR	32,431,200	32,721,531
Total loss reserves	$ 37,397,000	$ 37,788,000	$ 36,677,000
% of Known title claims	13.30%	13.40%
% of IBNR	86.70%	86.60%
% of Total loss reserves	100.00%	100.00%

Earnings Per Common Share And32

Earnings Per Common Share And Share Awards (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Common Share And Share Awards [Line Items]
Incremental dilutive potential common shares, calculated using treasury stock method (in shares)	6,645	5,766
Anti-dilutive shares excluded from computation of diluted earnings per share	0	0
SARs and options vesting period	1 year
Compensation expense relating to SARs or options vesting	$ 35,000	$ 33,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 0
Number of stock options or SARs granted where exercise price was less than market price on date of grant	0	0
Minimum
Earnings Per Common Share And Share Awards [Line Items]
SARs and options expiration period	5 years
Annual rate at which stock appreciation rights and options are exercisable and vest	10.00%
Maximum
Earnings Per Common Share And Share Awards [Line Items]
Maximum shares of Company stock to be granted to key employees or directors	500,000
SARs and options expiration period	10 years
Annual rate at which stock appreciation rights and options are exercisable and vest	20.00%

Earnings Per Common Share And33

Earnings Per Common Share And Share Awards Computation Of Basic And Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income attributable to the Company	$ 1,814,040	$ 1,726,124
Weighted average common shares outstanding - Basic	1,934,318	2,012,738
Incremental shares outstanding assuming the exercise of dilutive stock options and SARs (share settled)	6,645	5,766
Weighted average common shares outstanding - Diluted	1,940,963	2,018,504
Basic Earnings per Common Share	$ 0.94	$ 0.86
Diluted Earnings per Common Share	$ 0.93	$ 0.86

Earnings Per Common Share And34

Earnings Per Common Share And Share Awards Summary Of Share-Based Award Transactions (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number Of Shares, Options exercised		(1,500)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted Average Exercise Price, Options exercised		$ 36.79
StockOptionsAndStockAppreciationRightsSARS [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number Of Shares, Outstanding Beginning Balance	22,000	21,000
Number Of Shares, Outstanding Ending Balance	20,000	22,000	21,000
Number Of Shares, Exercisable as of March 31, 2016	20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 57.04	$ 51.30
Weighted Average Exercise Price, Outstanding Ending Balance	59.55	$ 57.04	$ 51.30
Weighted Average Exercise Price, Exercisable as of March 31, 2016	$ 59.55
Average Remaining Contractual Term, Outstanding Beginning Balance	4 years 10 days	3 years 11 months 4 days	3 years 7 months 20 days
Average Remaining Contractual Term, Outstanding Ending Balance	4 years 10 days	3 years 11 months 4 days	3 years 7 months 20 days
Average Remaining Contractual Term, Exercisable as of March 31, 2016	4 years 10 days
Aggregate Intrinsic Value, Outstanding Beginning Balance	$ 945,055	$ 453,510
Aggregate Intrinsic Value, Outstanding Ending Balance	630,455	$ 945,055	$ 453,510
Aggregate Intrinsic Value, Exercisable as of March 31, 2016	$ 630,455
SARs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number Of Shares, SARs granted	0	4,500
Number Of Shares, Options exercised	(2,000)	(2,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted Average Exercise Price, SARs granted	$ 0	$ 73
Weighted Average Exercise Price, Options exercised	$ 32	$ 47.88

Segment Information Selected Fi

Segment Information Selected Financial Information By Segment (Details)	3 Months Ended
	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	1
Insurance And Other Services Revenue	$ 23,561,181	$ 27,108,967
Investment income	1,151,011	1,178,039
Net realized gain (loss) on investments	149,830	14,803
Total Revenues	24,862,022	28,301,809
Operating expenses	22,278,561	25,932,685
Income (loss) before income taxes	2,583,461	2,369,124
Total assets	207,341,590	196,996,910	$ 211,522,029
Title Insurance
Segment Reporting Information [Line Items]
Insurance And Other Services Revenue	22,391,723	25,995,525
Investment income	1,054,786	1,050,775
Net realized gain (loss) on investments	93,929	14,379
Total Revenues	23,540,438	27,060,679
Operating expenses	21,096,917	24,597,471
Income (loss) before income taxes	2,443,521	2,463,208
Total assets	159,904,411	150,689,425
All Other
Segment Reporting Information [Line Items]
Insurance And Other Services Revenue	1,572,155	1,464,157
Investment income	142,893	150,598
Net realized gain (loss) on investments	55,901	424
Total Revenues	1,770,949	1,615,179
Operating expenses	1,566,921	1,668,508
Income (loss) before income taxes	204,028	(53,329)
Total assets	47,437,179	46,307,485
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Insurance And Other Services Revenue	(402,697)	(350,715)
Investment income	(46,668)	(23,334)
Net realized gain (loss) on investments	0	0
Total Revenues	(449,365)	(374,049)
Operating expenses	(385,277)	(333,294)
Income (loss) before income taxes	(64,088)	(40,755)
Total assets	$ 0	$ 0

Retirement Agreements And Oth36

Retirement Agreements And Other Postretirement Benefits (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	$ 2,545	$ 4,187
Interest cost on the projected benefit obligation	8,781	7,693
(Accretion) amortization of unrecognized prior service cost	0	1,097
Amortization of unrecognized losses	2,235	879
Net periodic benefits costs	13,561	$ 13,856
Employee benefits and other payments	$ 8,391,000		$ 7,818,000

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Auction rate security bond par value	$ 1,000,000	$ 1,000,000
Percentage of auction rate security guaranteed	97.00%	97.00%
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of carrying value of auction rate securities	1.00%	1.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of carrying value of auction rate securities	4.00%	4.00%

Fair Value Measurement Schedule

Fair Value Measurement Schedule Of Fair Value Assets Measured On Recurring Basis (Details) - USD ($)		Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		$ 7,520,069	$ 6,865,406
Equity securities		37,681,569	37,513,464
Fixed maturities		106,383,823	106,066,384
Total		151,585,461	150,445,254
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		7,520,069	6,865,406
Total		45,201,638	44,378,870
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0	0
Total		106,383,823	105,126,484
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0	0
Total		0	939,900
Common Stock And Nonredeemable Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		37,681,569	37,513,464
Common Stock And Nonredeemable Preferred Stock | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		37,681,569	37,513,464
Common Stock And Nonredeemable Preferred Stock | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		0	0
Common Stock And Nonredeemable Preferred Stock | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		0	0
General Obligations Of U.S. States, Territories And Political Subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	88,650,329	87,640,140
General Obligations Of U.S. States, Territories And Political Subdivisions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	0	0
General Obligations Of U.S. States, Territories And Political Subdivisions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	88,650,329	87,640,140
General Obligations Of U.S. States, Territories And Political Subdivisions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	0	0
Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	17,733,494	18,426,244
Corporate Debt Securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	0	0
Corporate Debt Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	17,733,494	17,486,344
Corporate Debt Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities	[1]	$ 0	$ 939,900
[1]	Denotes fair market value obtained from pricing services.

Fair Value Measurement Schedu39

Fair Value Measurement Schedule Of Carrying Value And Fair Value Of Financial Assets Disclosed (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	$ 21,873,731	$ 21,790,068
Cost-basis investments	0	0
Accrued dividends and interest	1,320,942	1,004,126
Total	23,194,673	22,794,194
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	0
Cost-basis investments	0	0
Accrued dividends and interest	0	0
Total	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	0
Cost-basis investments	4,135,512	3,684,020
Accrued dividends and interest	0	0
Total	4,135,512	3,684,020
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	21,873,731	21,790,068
Cost-basis investments	3,727,074	3,588,314
Accrued dividends and interest	1,320,942	1,004,126
Total	26,921,747	26,382,508
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	21,873,731	21,790,068
Cost-basis investments	4,135,512	3,684,020
Accrued dividends and interest	1,320,942	1,004,126
Total	$ 27,330,185	$ 26,478,214

Fair Value Measurement Schedu40

Fair Value Measurement Schedule Of Fair Value Assets Measured At Unobservable Inputs Reconciliation (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at January 1	$ 939,900	$ 939,100
Redemptions and sales	(1,000,000)	0
Realized gain – included in net realized gain on investments	74,996	0
Unrealized (loss) gain – included in other comprehensive income	(14,896)	800
Ending balance, net	$ 0	$ 939,900

Fair Value Measurement Schedu41

Fair Value Measurement Schedule Of Estimated Fair Value Hierarchy Of Investments And Related Impairments Recognized (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cost method investments, Total at Estimated Fair Value	$ 0	$ 163,350
Total cost method investments, Impairment Losses	0	(233,069)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cost method investments, Total at Estimated Fair Value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cost method investments, Total at Estimated Fair Value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cost method investments, Total at Estimated Fair Value	$ 0	$ 163,350
Cost Method Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Valuation Method	Fair Value	Fair Value
Impaired	No	Yes
Total cost method investments, Total at Estimated Fair Value	$ 0	$ 163,350
Total cost method investments, Impairment Losses	0	(233,069)
Cost Method Investments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cost method investments, Total at Estimated Fair Value	0	0
Cost Method Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cost method investments, Total at Estimated Fair Value	0	0
Cost Method Investments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cost method investments, Total at Estimated Fair Value	$ 0	$ 163,350

Investments In Securities (Deta

Investments In Securities (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)security	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)security
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Available-for-sale securities	$ 6,100,304		$ 17,129,467
Unrealized losses	$ 103,103		$ 224,711
Number of securities with unrealized losses | security	11		30
Other-than-temporary impairment charges	$ 42,794	$ 0
Fixed Maturities
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Available-for-sale securities	3,976,386		$ 11,595,800
Unrealized losses	14,644		96,334
Equity Securities
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Available-for-sale securities	2,123,918		5,533,667
Unrealized losses	$ 88,459		$ 128,377

Investments In Securities (Sche

Investments In Securities (Schedule Of Gross Unrealized Gains And Losses And Amortized Cost For Securities) (Details)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	$ 101,325,609	$ 102,015,826
General Obligations Of U.S. States, Territories And Political Subdivisions
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	32,257,800	31,883,439
Available-for-sale, at fair value, Gross Unrealized Gains	1,110,229	987,595
Available-for-sale, at fair value, Gross Unrealized Losses	13,243	11,734
Available-for-sale, at fair value, Estimated Fair Value	33,354,786	32,859,300
Special Revenue Obligations Of U.S. States, Territories And Political Subdivisions
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	52,061,731	52,202,815
Available-for-sale, at fair value, Gross Unrealized Gains	3,234,721	2,604,152
Available-for-sale, at fair value, Gross Unrealized Losses	909	26,127
Available-for-sale, at fair value, Estimated Fair Value	$ 55,295,543	$ 54,780,840
Number of Special Revenue Bonds	50	50
Corporate Debt Securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	$ 17,006,078	$ 17,004,985
Available-for-sale, at fair value, Gross Unrealized Gains	727,908	539,832
Available-for-sale, at fair value, Gross Unrealized Losses	492	58,473
Available-for-sale, at fair value, Estimated Fair Value	17,733,494	17,486,344
Auction Rate Securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost		924,587
Available-for-sale, at fair value, Gross Unrealized Gains		15,313
Available-for-sale, at fair value, Gross Unrealized Losses		0
Available-for-sale, at fair value, Estimated Fair Value		939,900
Total Fixed Maturities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	101,325,609	102,015,826
Available-for-sale, at fair value, Gross Unrealized Gains	5,072,858	4,146,892
Available-for-sale, at fair value, Gross Unrealized Losses	14,644	96,334
Available-for-sale, at fair value, Estimated Fair Value	106,383,823	106,066,384
Common Stocks And Nonredeemable Preferred Stocks
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	23,962,393	23,855,873
Available-for-sale, at fair value, Gross Unrealized Gains	13,807,635	13,785,968
Available-for-sale, at fair value, Gross Unrealized Losses	88,459	128,377
Available-for-sale, at fair value, Estimated Fair Value	37,681,569	37,513,464
Equity Securities
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	23,962,393	23,855,873
Available-for-sale, at fair value, Gross Unrealized Gains	13,807,635	13,785,968
Available-for-sale, at fair value, Gross Unrealized Losses	88,459	128,377
Available-for-sale, at fair value, Estimated Fair Value	37,681,569	37,513,464
Certificates Of Deposit And Other
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	7,520,069	6,865,406
Available-for-sale, at fair value, Gross Unrealized Gains	0	0
Available-for-sale, at fair value, Gross Unrealized Losses	0	0
Available-for-sale, at fair value, Estimated Fair Value	7,520,069	6,865,406
Short-Term Investments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Available-for-sale, at fair value, Amortized Cost	7,520,069	6,865,406
Available-for-sale, at fair value, Gross Unrealized Gains	0	0
Available-for-sale, at fair value, Gross Unrealized Losses	0	0
Available-for-sale, at fair value, Estimated Fair Value	$ 7,520,069	$ 6,865,406

Investments In Securities (Sc44

Investments In Securities (Schedule Of Fixed Maturity Securities) (Details)	Mar. 31, 2016USD ($)
Investments, Debt and Equity Securities [Abstract]
Due in one year or less, Amortized Cost	$ 11,488,568
Due after one year through five years, Amortized Cost	43,806,261
Due five years through ten years, Amortized Cost	44,039,421
Due after ten years, Amortized Cost	1,991,359
Total, Amortized Cost	101,325,609
Due in one year or less, Fair Value	11,607,930
Due after one year through five years, Fair Value	45,722,867
Due five years through ten years, Fair Value	46,529,077
Due after ten years, Fair Value	2,523,949
Total, Fair Value	$ 106,383,823

Investments In Securities (Sc45

Investments In Securities (Schedule Of Gross Realized Gains And Losses On Securities) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Total, Gross realized gains	$ 303,116	$ 9,199
Total, Gross realized losses	(159,831)	(396)
Net realized gain from securities	143,285	8,803
Gain on other investments	6,545	6,000
Total	6,545	6,000
Net realized gain on investments	149,830	14,803
General Obligations Of U.S. States, Territories And Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Total, Gross realized losses	0	(396)
Issuer Obligations Of U S States Territories And Political Subdivisions Special Revenue [Member]
Schedule of Available-for-sale Securities [Line Items]
Total, Gross realized gains	160	0
Total, Gross realized losses	(85)	0
Corporate Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Total, Gross realized gains	0	999
Common Stocks And Nonredeemable Preferred Stocks
Schedule of Available-for-sale Securities [Line Items]
Total, Gross realized gains	227,960	8,200
Total, Gross realized losses	(116,952)	0
Impairments of Debt And Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total, Gross realized losses	(42,794)	0
Auction Rate Securities
Schedule of Available-for-sale Securities [Line Items]
Total, Gross realized gains	$ 74,996	$ 0

Investments In Securities (Sc46

Investments In Securities (Schedule Of Unrealized Losses On Investments) (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Total temporarily impaired securities, Less than 12 Months, Fair Value	$ 5,029,994	$ 15,945,504
Total temporarily impaired securities, Less than 12 Months, Unrealized Losses	(90,003)	(203,722)
Total temporarily impaired securities, 12 Months or Longer, Fair Value	1,070,310	1,183,963
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(13,100)	(20,989)
Total temporarily impaired securities, Unrealized Losses	(103,103)	(224,711)
Total temporarily impaired securities, Total Fair Value	6,100,304	17,129,467
General Obligations Of U.S. States, Territories And Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Total temporarily impaired securities, Less than 12 Months, Fair Value	1,122,050	1,758,345
Total temporarily impaired securities, Less than 12 Months, Unrealized Losses	(143)	(11,734)
Total temporarily impaired securities, 12 Months or Longer, Fair Value	1,070,310	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(13,100)	0
Total temporarily impaired securities, Unrealized Losses	(13,243)	(11,734)
Total temporarily impaired securities, Total Fair Value	2,192,360	1,758,345
Special Revenue Obligations Of U.S. States, Territories And Political Subdivisions
Schedule of Available-for-sale Securities [Line Items]
Total temporarily impaired securities, Less than 12 Months, Fair Value	893,506	1,672,217
Total temporarily impaired securities, Less than 12 Months, Unrealized Losses	(909)	(5,139)
Total temporarily impaired securities, 12 Months or Longer, Fair Value	0	1,183,963
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	(20,989)
Total temporarily impaired securities, Unrealized Losses	(909)	(26,128)
Total temporarily impaired securities, Total Fair Value	893,506	2,856,180
Corporate Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Total temporarily impaired securities, Less than 12 Months, Fair Value	890,520	6,981,275
Total temporarily impaired securities, Less than 12 Months, Unrealized Losses	(492)	(58,472)
Total temporarily impaired securities, 12 Months or Longer, Fair Value	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Total temporarily impaired securities, Unrealized Losses	(492)	(58,472)
Total temporarily impaired securities, Total Fair Value	890,520	6,981,275
Total Fixed Income Securities
Schedule of Available-for-sale Securities [Line Items]
Total temporarily impaired securities, Less than 12 Months, Fair Value	2,906,076	10,411,837
Total temporarily impaired securities, Less than 12 Months, Unrealized Losses	(1,544)	(75,345)
Total temporarily impaired securities, 12 Months or Longer, Fair Value	1,070,310	1,183,963
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(13,100)	(20,989)
Total temporarily impaired securities, Unrealized Losses	(14,644)	(96,334)
Total temporarily impaired securities, Total Fair Value	3,976,386	11,595,800
Equity Securities
Schedule of Available-for-sale Securities [Line Items]
Total temporarily impaired securities, Less than 12 Months, Fair Value	2,123,918	5,533,667
Total temporarily impaired securities, Less than 12 Months, Unrealized Losses	(88,459)	(128,377)
Total temporarily impaired securities, 12 Months or Longer, Fair Value	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Total temporarily impaired securities, Unrealized Losses	(88,459)	(128,377)
Total temporarily impaired securities, Total Fair Value	$ 2,123,918	$ 5,533,667

Investments In Securities Inves

Investments In Securities Investments In Securities (Schedule of Variable Interest Entities) (Details) - Other investments	3 Months Ended
	Mar. 31, 2016USD ($)
Variable Interest Entity [Line Items]
Carrying Value	$ 6,578,105
Estimated Fair Value	6,687,459
Maximum Potential Loss	$ 9,275,000
Tax credit LP's
Variable Interest Entity [Line Items]
Balance Sheet Classification	Other investments
Carrying Value	$ 969,153
Estimated Fair Value	969,153
Maximum Potential Loss	$ 1,325,000
Real estate LLC's or LP's
Variable Interest Entity [Line Items]
Balance Sheet Classification	Other investments
Carrying Value	$ 3,481,576
Estimated Fair Value	3,688,921
Maximum Potential Loss	$ 6,150,000
Small business investment LP's
Variable Interest Entity [Line Items]
Balance Sheet Classification	Other investments
Carrying Value	$ 2,127,376
Estimated Fair Value	2,029,385
Maximum Potential Loss	$ 1,800,000

Commitments And Contingencies (

Commitments And Contingencies (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Loss Contingencies [Line Items]
Like-kind exchange deposits and reverse exchange property	$ 172,381,000	$ 171,010,000
Independence Title [Member]
Loss Contingencies [Line Items]
Net Premiums Written Percentage	5.50%	10.30%	23.60%

Related Party Transactions Summ

Related Party Transactions Summary Of Approximate Values By Year Found Within Consolidated Balance Sheets (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Other investments	$ 8,814,605	$ 10,106,828
Premiums and fees receivable	6,940,127	8,392,697
Title Insurance Agencies
Related Party Transaction [Line Items]
Other investments	5,088,000	6,519,000
Premiums and fees receivable	$ 71,000	$ 719,000

Related Party Transactions Su50

Related Party Transactions Summary Of Approximate Values By Year Found Within Consolidated Statements Of Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Related Party Transaction [Line Items]
Net premiums written	$ 21,508,997	$ 24,962,041
Other income	2,052,184	2,146,926
Commissions to agents	11,532,882	14,596,539
Title Insurance Agencies
Related Party Transaction [Line Items]
Net premiums written	2,743,000	3,056,000
Other income	126,000	403,000
Commissions to agents	$ 1,848,000	$ 2,132,000

Acquisition (Details)

Acquisition (Details) - USD ($)	Aug. 01, 2015	May. 21, 2014	Apr. 02, 2012	Mar. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage	65.00%
1st Investors Title Agency [Member] [Domain]
Business Acquisition [Line Items]
Ownership percentage acquired	20.00%
Business Combination, Consideration Transferred	$ 72,600
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage	45.00%
United Title Agency [Member]
Business Acquisition [Line Items]
Ownership percentage acquired		30.00%	70.00%
Business acquisition, remaining ownership interest			30.00%
Accumulated amortization of intangible assets				$ 278,736	$ 261,315
Net intangible assets				$ 1,203,164	$ 1,220,585
United Title Agency [Member] | 70%
Business Acquisition [Line Items]
Business Acquisition Purchase Price			$ 1,041,250
United Title Agency [Member] | 30%
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		$ 515,275
United Title Agency [Member] | Non-Compete Contract
Business Acquisition [Line Items]
Intangible assets acquired			$ 645,685
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			10 years
United Title Agency [Member] | Referral Relationships
Business Acquisition [Line Items]
Intangible assets acquired			$ 836,215
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			12 years

Acquisition Schedule of Effects

Acquisition Schedule of Effects of Changes in Parent Ownership Interest (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Combinations [Abstract]
Net Income (Loss) Attributable to Parent	$ 1,814,040	$ 1,726,124

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Income Balances Of Each Component Of Accumulated Other Comprehensive Income, Net Of Tax (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 11,483,015	$ 12,856,509
Other comprehensive income before reclassifications	792,939	184,227
Amounts reclassified from accumulated other comprehensive income	(91,618)	(4,490)
Other comprehensive income	701,321	179,737
Ending balance	12,184,336	13,036,246
Unrealized Gains And Losses On Available-For-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	11,597,741	12,934,497
Other comprehensive income before reclassifications	792,939	184,227
Amounts reclassified from accumulated other comprehensive income	(93,093)	(5,794)
Other comprehensive income	699,846	178,433
Ending balance	12,297,587	13,112,930
Postretirement Benefits Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(114,726)	(77,988)
Other comprehensive income before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	1,475	1,304
Other comprehensive income	1,475	1,304
Ending balance	$ (113,251)	$ (76,684)

Accumulated Other Comprehensi54

Accumulated Other Comprehensive Income Reclassification Out Of Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gain on investment	$ 149,830	$ 14,803
Prior year service cost	0	1,097
Unrecognized loss	(2,235)	(879)
Income before Income Taxes	2,583,461	2,369,124
Tax	(779,000)	(643,000)
Net Income	1,804,461	1,726,124
Reclassification Out Of Accumulated Other Comprehensive Income
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net Income	91,618	4,490
Reclassification Out Of Accumulated Other Comprehensive Income | Unrealized Gains And Losses On Available-For-Sale Securities
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gain on investment	186,079	8,803
Other-than-temporary impairments	(42,794)	0
Income before Income Taxes	143,285	8,803
Tax	(50,192)	(3,009)
Net Income	93,093	5,794
Reclassification Out Of Accumulated Other Comprehensive Income | Postretirement Benefits Plans
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Prior year service cost		(1,097)
Unrecognized loss	(2,235)	(879)
Income before Income Taxes	(2,235)	(1,976)
Tax	760	672
Net Income	$ (1,475)	$ (1,304)