Insurance Research Council News

Many Coastal Homeowners Remain Unfamiliar With Hurricane Deductibles

Almost five years after Superstorm Sandy, one third of homeowners in several coastal states are still unaware of hurricane deductibles and how they work, a new Insurance Research Council (IRC) poll has found. The findings come as the National Oceanic …

New Auto Insurance Monitoring System Now in Effect in Some Parts of Louisiana

A new real-time auto insurance monitoring system is now being used in some parts of Louisiana to help police enforce the requirement that drivers are up to date on paying their premiums. The American Press reports the new monitoring system …

IRC: Auto Insurance Costs Becoming More Affordable for All Income Levels

Personal auto insurance has become more affordable over time for all income groups, including low-to-moderate income (LMI) groups, according to a new report from the Insurance Research Council (IRC). In addition to documenting that auto insurance has become more affordable …

Third Party Bad Faith Auto Claims Cost Florida $800 Million: IRC

Florida’s third-party bad-faith lawsuit environment may have resulted in more than $800 million in additional auto liability claim payments in 2013. The industry-supported Insurance Research Council (IRC) in a new report estimates that this cost averages approximately $79 in additional …

Number of Uninsured Motorists Declines While Claim Payments Skyrocket

The estimated percentage of uninsured motorists trended down across the U.S. in 2010, 2011 and 2012, according to new estimates from the Insurance Research Council (IRC). In 2003, a cyclical high of 14.9 percent of drivers were uninsured, while the …

More PIP Auto Injury Claimants Are Hiring Attorneys: Study

A new study from the Insurance Research Council (IRC) found that the percentage of auto injury claimants represented by attorneys rose to 36 percent of personal injury protection (PIP) claimants in 2012, up from 31 percent in 2007 and more …

Even as Reported Injuries Become Less Severe, Medical Costs Skyrocket

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 …

New Study Finds Lower Acceptance of Insurance Fraud

According to new findings from an online Insurance Research Council (IRC) public opinion study, 24 percent of Americans believe it is acceptable to increase an insurance claim by a small amount to make up for deductibles they are required to …

Auto Injury Claim Costs Rise

New findings from an Insurance Research Council (IRC) study of auto injury claim trends indicate that insurance claim costs countrywide have recently increased, reversing previous trends of declining or relatively stable costs. The report, Trends in Auto Injury Claims, 2011 …