The documents are then recorded in the public records. 1Title insurance is substantially different from other types of insurance. Those claims are based on various legal theories. We have from time-to-time incurred losses in excess of policy limits. These factors may override the seasonal nature of the title business. Increasing market share is accomplished primarily by providing superior service. The parties to a closing are concerned with accuracy, timeliness and cost. These ratings are not credit ratings. Kickbacks and similar practices are prohibited by most state and federal laws. Factors affecting ancillary services revenues. Claims are often paid many years after a policy is issued. Information technology systems present potential targets for cybersecurity attacks. Our operations are reliant on technology. The CFPB is an independent agency and funded by the United States Federal Reserve System. Changes in regulations may have a material adverse effect on our business. Thus, when the defalcation is discovered, it often relates to several transactions. Certain states have mandated annual reviews of agencies by their underwriter. Known claims reserves are reserves related to actual losses reported to us. Cash held at the parent company totaled $3.6 million at December 31, 2020. Refer to Note 4 to our audited consolidated financial statements for details. As a result, no corrective actions were required or undertaken. We believe that our audits provide a reasonable basis for our opinion. Actual results could differ from those estimates. In this accrual, future transactions are not being estimated. Revenues from these services are recognized upon delivery of the service to the customer. Investments in debt and equity securities are carried at fair value. Maintenance and repairs are expensed as incurred while improvements are capitalized. The costs of maintaining and operating title plants are expensed as incurred. K. Impairment of long-lived assets. The net fair values of these financial instruments approximate their carrying values. Q. Recently adopted accounting pronouncements. The previous GAAP generally required the recognition of credit losses when incurred. These funds are not available for any other purpose. Investments made by the Company are not collateralized. This hierarchy requires entities to maximize the use of observable inputs when possible. F - 22NOTE 8Goodwill and other intangibles. Many of these practices do not concern title insurance. See accompanying Report of Independent Registered Public Accounting Firm. 333-240279) on Form S-3 and (Nos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f impairment is indicated, the recorded amounts are written down to fair values. & Investments in debt and equity securities. Deferred tax assets an
