U.S. Auto Insurance Trends Report Highlights New Generational Risks in Drivers and Vehicles that Continue to Contribute to Higher Claim Frequencies

Claim severity continues to challenge the insurance industry as claims severities have steadily trended upward since the pandemic. Compared to 2020, bodily injury has risen by 20%, along with severity as material damage has increased by 47%. Attorney involvement has helped contribute to the rise in claims costs. Over half (51%) of claimants who hired an attorney received a higher settlement amount. This activity is most prevalent following an auto accident, as 85% of claimants were approached by one attorne ...