A.M.BestTV: Insurance Research Council Report: More Auto Claimants Turn to Lawyers

OLDWICK, N.J--()--In this episode, A.M.BestTV examines how despite no-fault insurance and insurers' having a focus on settling claims amicably, a study from the Insurance Research Council shows that the percentage of claimants seeking attorney representation continues to rise.

About this growing trend, David Corum, vice president at the Insurance Research Council said that there were three main areas of concern: “First, the frequency and magnitude of attorney involvement; second, the increasing cost and how attorney involvement increases that cost; and third, how attorney representation increases delays in the system obviously affecting claimants.” Corum added that “the no-fault system was created so that a person would not need to hire an attorney; however, now with one out of three claimants having attorney representation, this is quite disturbing.”

Click on to view the video program: http://www.ambest.com/v.asp?v=lawyer814.

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A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at www.ambest.tv.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

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Contacts

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com