Auto Injury Claims Frequency Falls, Claims Costs Keep Rising
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As Auto Injury Claims Frequency Falls, Claims Costs Continue to Rise

Researchers found that the average cost per paid liability claim has jumped more than 30 percent from 2005 to 2013.

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The Insurance Journal reported that auto insurance bodily injury claims costs are still increasing in the U.S., even though better vehicle safety has helped reduce claims frequency. These findings are based on a recent Insurance Research Council (IRC) report.

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The IRC has said that improved vehicle safety, graduated licensing laws and other safety factors have not been enough to offset substantial increases in the cost of injury claims.

Researchers found that the average cost per paid liability claim has jumped more than 30 percent from 2005 to 2013.

The IRC said the results point to a need for further scrutiny of what is driving up these costs.

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