| |
|
| |
|
| |
|
| |
Vehicle Accident News Article
Losses in Auto Injury Accident Claims Escalating
January 16, 2004
According to a new study by the Insurance Research Council (IRC), losses in auto injury claims are increasing. The study based on more than 70,000 auto injury claims appears surprising since the rate of serious auto injuries has decreased, however the escalating medical costs are what is attributed to the increases.
Based on the IRC study, in the past five years the amount auto injury claimants report for expenses due to their injuries is almost double the annualized growth in medical inflation and almost three times higher than increases in general inflation. These figures were especially pertinent among personal injury protection and medical payments first-party claimants.
The two main patterns identified by the IRC study based off the five year period from 1997 to 2002 included, injury patterns remained consistent though the seriousness of auto injuries declined and that even with declines in the overall seriousness of injuries, there were increases in the use of some medical professionals and costs associated to their use.
Source: http://www.onlinelawyersource.com/news/auto_injury.html
|
| |
|
| |
|
| |
|
