The Insurance Research Council is a non-profit division of the American Institute for Chartered Property Casualty Underwriters and the Insurance Institute of America.
Supported by leading property-casualty insurance organizations, IRC provides timely and reliable empirical research to all parties involved in public policy issues affecting risk and insurance. It does not advocate public policy or directly influence specific legislative initiatives or engage in lobbying communications.
IRC addresses subjects relating to all lines of property-casualty insurance, including coverages of automobiles, homes, businesses, municipalities, and professionals. Its major studies each year provide facts pertaining to key industry challenges. Policy makers and opinion leaders can view its reports as objective guides to understanding complex issues.
Latest News Release:
IRC Research Documents Higher Injury Claim Costs With Lighter Weight Vehicles-Implications of Rising Gas Prices Considered, August 2008. The cost of auto injury claims involving lighter-weight vehicles tends to be higher than the cost of claims involving heavy vehicles, according to new research from the Insurance Research Council (IRC). These findings may have important implications for those seeking to understand how higher gas prices will affect auto insurance costs.
IRC found that the average auto injury claim payment in accidents involving lighter-weight vehicles was 14.3 percent greater than the average payment in accidents involving heavy vehicles. These findings suggest that, as rapidly rising gas prices prompt more drivers to choose lighter and more fuel-efficient vehicles, the average cost of injury claims arising from motor vehicle accidents can be expected to climb. For the full news release click here.
Recent Reports:
Auto Injury Insurance Claims: Countrywide Patterns in Treatment, Cost, and Compensation, 2008 Edition, January 2008, 93 pages. This closed claim study updates the IRC’s ongoing research on injuries in auto accidents based on a sample of more than 42,000 auto injury claims paid by major auto insurers countrywide. The report explores auto injury claim patterns under each of the five principal private passenger coverages, comparing 2007 data to results from similar studies conducted in 2002 and earlier. The study examines trends in injury claim patterns, including characteristics of the accidents and those injured, medical treatment, losses and payments, the claim settlement process, and the impact of attorney involvement. Cost: $300 in the U.S. and $315 elsewhere, postpaid.
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Colorado Auto Insurance—Transition From No-Fault to Tort, February 2008, 32 pages. Colorado auto insurance regulations changed from a no-fault system to a tort-based system in 2003. This IRC report examines auto claim frequencies and loss costs in Colorado before and after the transition from no-fault to tort. Additional analyses compare closed auto injury claim details between Colorado and the United States. Cost: $65 in the U.S. and $80 elsewhere, postpaid.
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Trends in Auto Injury Claims, 2008 Edition, January 2008, 91 pages. This report examines the frequency, severity, and loss costs associated with auto insurance claims under the PD, BI, and PIP coverages from 1990 to 2006. National and state statistics are provided. Also included is information on total auto injury loss costs and average written liability premiums from 1990 to 2004. Cost: $300 in the U.S. and $315 elsewhere, postpaid.
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Public Attitude Monitor 2007, Issue 1, June 2007, 49 pages. The first issue of the Insurance Research Council’s Public Attitude Monitor 2007 (PAM) analyzes public opinion on a range of issues related to highway safety and traffic enforcement. Cost: $65 in the U.S. and $80 elsewhere, postpaid.
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Municipal Bond Holdings of Property-Casualty Insurance Companies, May 2007, 60 pages. This IRC report describes the property-casualty insurance industry’s role as the fourth largest investor in municipal bond markets and presents findings on the types of projects funded through municipal bonds purchased by insurers. Cost: $125 in the U.S. and $140 elsewhere, postpaid.
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Florida Auto Injury Insurance Claim Environment, 2007 Final Report, February 2007, 68 pages. This IRC study highlights trends in auto injury claim patterns in Florida by comparing PIP and BI closed claims from 2005 with claim data collected in 2002 and 1997. Cost: $125 in the U.S. and $140 elsewhere, postpaid.
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