Older Riders NotDriving Up Bike Rates

Increasing accident rates for aging motorcyclists arent having an impact on premiums charged by specialty insurers to cover them, but upsurges in bike thefts and repair fraud are the issues that concern industry experts.

According to a 1999 report by the U.S. Department of Transportation and the National Highway Traffic Safety Administration, "Recent Trends in Fatal Motorcycle Crashes," fatalities for motorcyclists increased by 16.8 percent between 1997 and 1999. A growing number of those deaths were reported for riders over 40–a group that for years reported low numbers of accidents.

"The increase is due to the fact that operators are getting older and bikes are getting bigger," said Jim McCafferty, vice president, Cincinnati-based American Modern Home Insurance Co., in the Des Moines, Iowa, office.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.