NCCI: Car Crashes 70% More Costly Than Average Lost-Time Claim

Motor vehicle accidents account for about 5% of lost-time claims but 10% of their costs, according to a new analysis by the National Council on Compensation Insurance. Motor vehicle accidents are about 70% more expensive than the average lost-time claim, in part because car crashes are more than twice as likely to result in injuries to multiple body parts, according to the analysis by NCCI assistant actuary Brian Stein. Motor vehicle accidents account for about 20% of the money spent on claims with total costs exceeding $1 million, and they cause about 40% of work-related fatalities. T...