Editor's Note: As part of an expanded editorial approach, Claims is offering first-run, feature-length articles on our web site before they appear in our monthly print issue. These articles will be clearly marked and are intended to expand the editorial breadth of the magazine while at the same time delivering even more useful and educational insights to our readers. We hope you find this extended coverage helpful.
A September 2006 study by the U.S. Department of Transportation National Highway Traffic and Safety Administration stated that U.S. medical losses that were associated with auto accidents totaled $32.6 billion annually, with each critically injured survivor costing an average of $1.1 million. Approximately 10 percent, or $3.26 billion, of the medical losses associated with auto accident s are for medication expenses.
These costs are growing exponentially and are estimated to increase an additional 148 percent by 2018. Auto no-fault insurers are realizing the necessity to contain medication costs, yet are faced with the constant challenge of providing exceptional service to their insureds. How can this be achieved?
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
