According to recent reports, the shares of some the United States’ major title insurers are falling in the wake of the country’s housing crisis. The drastic turn could mean higher claims as well as lower demand for homeowners’ insurance.

The broader decline in the markets came subsequent to the losses of Fidelity National Financial Inc, one of the largest title insurers reported serious third-quarter losses ($198.3 million or 95 cents a share). Not only were the Jacksonville, Florida-based company’s dividends halved but also it is reported that Fidelity management would be forced to cut a thousand jobs and lower pay scale for all workers by 10%.