Fatal Traffic Accidents Jump 14 Percent, Push Rates Up

The National Safety Council (NSC) reported a 14 percent rise in fatal auto accidents, and the sudden rise in traffic deaths in the first six months of 2015 could lead to higher insurance premiums. The council indicated that the higher numbers could be related to lower gas prices, adverse weather in some regions, and economic recovery, which have led drivers to travel more. Analysts say drivers could be facing a prolonged period of rising premiums. In an Aug. 26 report, Nomura stock analyst Clifford Gallant noted that while some insurers "are already reacting aggressively with rate increases, we expect that multiple rounds may be necessary just to catch current trend." Robert Hartwig, President of the Insurance Information Institute (I.I.I.), said another factor in the jump in auto fatalities could be the use of smartphones.

Source: PIA

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