Towers Watson

Card Set Information

Author:
ED_6C3
ID:
270295
Filename:
Towers Watson
Updated:
2014-04-12 12:38:37
Tags:
6C
Folders:
Tort & Liability Insurance
Description:
6C
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  1. Key findings
    • slight increase in tort costs, but due Gulf of Mexico spill; otherwise slight decrease
    • cost per person slightly increased as well
    • ratio of tort costs to GDP declines for a second year
  2. Context (U.S. economy)
    • lower level of economic activity suggests opportunities for tort actions have decreased
    • notable decline in commercial auto, most sensitive coverage
    • personal auto remains, by far, the single largest line of business contributing to tort costs
  3. Categories of tort costs
    • insured costs (excluding medical malpractice)
    • self-insured costs (excluding medical malpractice)
    • medical malpractice costs

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