There is no dispute that average BI severities continue to rise at a rate far faster than inflation. There are a number of reasons why, but the bigger question is what can be done to curb this phenomenon?

The best solution is a multi-pronged approach that addresses liability, investigation, damages and negotiations.

In the simplest terms, for a claim to be presented, two things must be proven: liability and damages. The first challenge for carriers is how to better improve liability investigations. As an industry, comparative negligence is taken on a mere 3% of claims. When compared to juries, who consider comparative negligence in more than half of all cases adjudicated, this becomes a glaring opportunity. BI Severities

Continue Reading for Free

Register and gain access to:

  • 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
NOT FOR REPRINT

© 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.

Investigative & Forensics
Litigation
Personal Lines
E&S/Specialty
Workers' Comp
Loss Control