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Auto claims frequency declined more than 2% on an annualized basis from 2002 to 2022, the Insurance Research Council (IRC) reports. However, claims severity has swung in the opposite direction, with an acceleration in the mid-2010s followed by a more pronounced jump during the pandemic (2020 to 2022).
The IRC's Trends in Personal Auto Insurance Claims 2002-2022 report showed that the average claim payment increased steadily over the course of that 21-year period, increasing over 4.5% annualized.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
