Rise in Auto Injury Medical Costs Tops Inflation While Severity Declines

 Monday, March 10, 2014

 Insurance Journal

Medical expenses reported by auto injury claimants continue to rise faster than the rate of inflation, in spite of the fact that the severity of the injuries themselves remains on a downward trend. A new study by the Insurance Research Council (IRC) found that from 2007 to 2012, average claimed economic losses (which include expenses for medical care, lost wages and other out-of-pocket expenditures) grew eight percent annualized among personal injury protection (PIP) claimants, reaching $14,207 per claimant in 2012.
Liability
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