During a recent government meeting, discussions centered on the rising severity of insurance claims, particularly in the context of collision and property damage. Officials highlighted that the average cost per claim, referred to as \"severity\" in insurance terminology, has seen significant increases since the onset of the COVID-19 pandemic.

Data presented during the meeting revealed that collision claims severity has surged by 41%, while property damage liability severity has escalated by approximately 50%. In contrast, bodily injury severity has increased by 24%. This indicates a notable skew towards property damage in the overall increase in claim severity.

The meeting underscored the importance of understanding these trends, as they have direct implications for insurance costs and policy adjustments. The breakdown of these figures provides valuable insights for stakeholders in the insurance industry, as they navigate the evolving landscape of claims and associated costs.