保险学Trisch12eCh13.ppt

Risk Management for Auto Owners—Part IChapter 13 Chapter Objectives Define the key terms in the personal automobile policy Identify the major parts of the personal automobile policy State four major exclusions of the personal automobile policy Distinguish between collision and loss other than collision State limitations on the insurance company’s right to cancel an auto insurance policy Describe the various approaches to dealing with the problem of uninsured drivers Describe the key factors that determine variation in auto insurance premiums across individuals The High Cost of Automobile Losses Automobile losses represent exposures to risk that nearly all individuals and risk managers must consider Of the $377 billion spent by individuals and business on property-casualty insurance premiums in 2002 About 43% was for auto insurance The human toll of auto losses is very high Over 40,000 Americans die every year in auto accidents However substantial progress has been made over the years in improving the situation Table 13-1 shows fatality rates for recent years A disproportionate number of automobile accidents involve young drivers Over the last several years falling accident rates indicate a significant improvement in driving records May be explained by society’s greater emphasis on loss prevention and safer cars And the reduction in the number of youthful drivers Table 13-1: Death Rate per 10,000 Cars Insurance Claims Insurers have been faced with rising claims for most types of automobile insurance protection Table 13-2 shows statistics illustrating the level to which claims have risen Notice that the average property-related losses have risen steadily over the years While average bodily injury losses have fluctuated Average collision and property damage liability claims rose dramatically faster than inflation from 1992-2002 While average bodily injury liability losses fell slightly over the same time period Table 13-2: Average Insurance Cla