August 10, 2020 - In June, the National Highway Traffic Safety Administration (NHTSA) reported a projected 1% decrease in motor vehicle fatalities for the first quarter of 2020 when compared to the same period from a year earlier continuing a three-year trend.

This good news is offset by a projected increase of about the same percentage when measured against vehicle miles traveled (VMT).

In other words, fatalities are down in the aggregate but up in terms of deaths per mile driven. It's becoming increasingly dangerous to drive.

Add to this another recent report indicating fewer vehicles on the road since the pandemic began; however, because motorists are driving faster, fatal injuries are occurring with greater regularity when accidents do occur.

Time will tell how this all plays out for those involved in the personal injury litigation field, but it's not unrealistic to anticipate a decrease in claim frequency coupled with an increase in severity in the coming months.

The injury severity reality is particularly problematic for insurance carriers evaluating claims as well as the plaintiff attorneys who represent catastrophically injured clients who survive crashes. With past and projected medical care often consuming so much of an award or settlement, making those dollars last becomes a paramount concern.

Because of the risk pooling advantage afforded by life insurance companies, structured settlements allow practitioners to create lifetime cash flows more cost effectively than an individual can achieve on their own.

A structured settlement with a RATED AGE can result in an overall lower cost of lifetime care for those whose injuries are normally associated with reduced life expectancy.

Especially in situations where policy limits and/or comparative fault come into play, stretching settlement dollars can become crucial to a timely and successful outcome.