Latest News

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Study Estimates Florida Third-Party Bad-Faith Costs at $7.6 Billion for 12-Year Period (2006-2017)

Sep 18, 2018
MALVERN, Pa.— A new report from the Insurance Research Council (IRC) estimates that Florida’s third-party bad-faith legal environment added an average of $106 in claim costs to every insured vehicle in the state in 2017, and resulted in a total of $7.6 billion in additional claim costs over the p
Insurtech concept of a transparent cube with a green umbrella over a circuit board and network connections.

Growing Number of Consumers Favor Digital Methods to Accomplish Key Insurance Tasks

Aug 22, 2018
MALVERN, Pa.— A new survey from the Insurance Research Council (IRC) finds that while phone calls remain the most common method consumers use to manage their auto insurance, many consumers are eager to use digital methods to accomplish the same tasks.
A blue car and a silver car have crashed on a rainy street. The hoods and bumpers of both cars are damaged.

Cost of Auto Injury Claims Continues to Outpace Inflation; Attorney Involvement Increases

Apr 17, 2018
MALVERN, Pa.— A new study from the Insurance Research Council (IRC) shows that claimed economic losses for bodily injury liability (BI) insurance claims increased 10 percent annualized from 2012 to 2017, substantially above the medical inflation rate of 3 percent over the same period.
Insurtech concept of a transparent cube with a green umbrella over a circuit board and network connections.

Many Homeowners and Renters Would Consider Allowing Their Insurer to Receive Information Through a Smart Home Device or System

Jan 29, 2018
MALVERN, Pa.—Nearly half of all homeowners and renters in the United States would consider allowing their insurance company to receive information about the status of their home through a smart home device or system, according to a new survey from the Insurance Research Council (IRC).
A young male claims adjuster with a clipboard crouches in front of a black damaged vehicle

One in Eight Drivers Uninsured

Oct 09, 2017
MALVERN, Penn.—Oct. 9, 2017— Countrywide, about one in eight drivers on the road in 2015 was uninsured, according to a new report from the Insurance Research Council (IRC).
A landscape of flat farm fields. Threatening dark clouds indicating a storm is brewing sit blocking out the sunlight.

Many Homeowners in Coastal Areas Remain Unfamiliar with Hurricane Deductibles

Jun 15, 2017
MALVERN, Pa.— Almost five years after Superstorm Sandy, one third of homeowners in several coastal states are still unaware of hurricane deductibles and how they work, a new Insurance Research Council (IRC) poll has found.
A statue of Lady Justice holding her scales in front of a laptop.

Attorney Involvement in Homeowners Insurance Claims in Texas

Jan 02, 2017
MALVERN, Pa.— The use of attorneys in settling Texas homeowners insurance claims is spreading, according to a recent study of homeowners insurance claims conducted by the Insurance Research Council (IRC).
A closeup of a gavel with two model cars in the background.

Why Do Claimants Hire Attorneys?

Nov 30, 2016
MALVERN, Pa.— In a recent online poll about experiences with auto injury insurance claims, almost half of respondents with auto injury claims hired attorneys to help settle those claims.
Over the shoulder view of a man driving his car at dusk.

Public Understanding and Acceptance of Sharing Economy Reveals Growth Potential

Aug 31, 2016
MALVERN, Pa.—Despite the extensive media attention received by Uber, AirBNB, and similar examples of the emerging sharing economy, 71 percent of all adult Americans report little familiarity with the sharing economy, according to a recent public opinion survey from the Insurance Research Council