According to the National Safety Council, a federally chartered not-for-profit organization, the economic costs in 1998 of unintentional injuries totaled $480.5 billion These costs included $77.8 billion in medical expenses, $246.1 billion in wage and productivity losses, and $44.9 billion in motor vehicle damages. By 2002, wage losses, medical expenses, property damage, employer costs, fire losses and other expenses related to unintentional injuries cost Americans an estimated $586.3 billion. In 2002, there was an estimated death caused by a motor vehicle crash every 12 minutes and a disabling injury every 14 seconds.
As the cost and frequency of unintentional injuries increases, so does the need for our services. Our target market are personal injury victims (casualty claimants) who cannot afford to pay the expenses resulting from their unintentional injury and are disaffected by property and casualty insurance company tactics, poor customer service and the high fees of prelawsuit cash advances.
A substantial number of personal injuries lead to casualty insurance claims. Unresolved casualty claims result in lawsuits. For example, in a study tracking civil cases resolved in 1992, more than ninety-five percent of lawsuits resulted in settlements. As you might assume, there are substantially more casualty claims settled prior to reaching the lawsuit stage.
A substantial number of personal injury insurance claims result in settlement. According to the Insurance Research Council, a nonprofit, independent division of the American Institute for CPCU and the Insurance Institute of America, automobile injury claims in the United States skyrocketed during the five-year period from 1997 to 2002 despite declines in serious injury.
When you look at it this way I gues you can see that the majority of client's "cases" are settled as insurance claims.
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