Auto Bodily Injury Insurance Claims Study
Posted by IRC on Apr 25th 2018
A new study from the Insurance Research Council (IRC) shows that claimed economic losses for auto bodily injury liability (BI) insurance claims increased 10 percent annualized from 2012 to 2017, substantially above the medical inflation rate of 3 percent over the same period. Claimed economic losses include reported expenses for medical care, lost wages and other out-of-pocket expenditures. In 2017, medical expenses accounted for 79 percent of all claimed economic losses. Meanwhile, insurer paym
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