Auto insurance claims are on the rise across the country according to a new report released by the Insurance Research Council (IRC). The report, issued this week, found that the increase in costs is reversing previous trends of relatively stable costs that have even declined in some cases.
Auto Insurance Claims Severity and Frequency Increasing
The new Insurance Research Council report, titled ”Trends in Auto Injury Claims, 2011 Edition,” has revealed some shifts in previous auto insurance claims trends.
In the previous few years, reports from the IRC found that while injury claim severity (the average cost of injury claims) has been on the rise, it has always been offset by declining claim frequency. Howe
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