Costly factors in rates

#01. Medical costs are an important factor in the auto insurance market… More than one in four auto accidents resulted in injury claims in 2003, according to the Insurance Research Council (IRC).

#02. Higher jury awards in vehicular liability cases continue to put additional upward pressure on auto insurance rates. The average jury award in auto liability cases was $261,000 in 2003, according to the most recent available data from Jury Verdict Research.

Citation: http://www.insurancejournal.com/news/national/2006/05/03/67867.htm

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