API Summer 2021

TRACKING CLAIMS OVER TIME A note regarding the data in this article: Most of the time, claims are not reported on the date they occur. Depending on the state, due to the statute of limitations, some claims can be reported from one to seven years after the fact. This means that the number of claims reported for 2020 will continue to rise over the next several years. Since claims data take time to “develop,” 2019 offers the most recent year for which data have statistical value. The data in this report reflect claims filed through late 2020 for incidents that occurred in 2019 or earlier. (Data provided by Granite Insurance.)

INSURANCE CLAIM RATES by activity, per 100,000 participants

HOCKEY GAME BASKETBALL GAME SOCCER GAME SOCCER PRACTIVE BASKETBALL PRACTICE

12,600

11,500

10,900

5,200

4,000

HOCKEY PRACTICE BUNJEE JUMPING SKYDIVING

2,500

31.8 23.4

WATER PADDLESPORTS ZIPLINE/AERIAL PARKS INDOOR CLIMBING

7.1 4.2 2.3

0

2000

4000

6000

8000

10000

12000

14000

compared to many other sports.

Cautionary note. It is important to pay attention to spikes in the data, though. For example, in 2017 the number of incidents per 100,000 rose to 6, up from 4 in 2016. Why? Analysis suggests this spike was tied to the introduction of me- chanical brakes. Overall, mechanical brakes have been good for the industry. However, operators experienced a significant learning curve while adopting the brakes. The 2017 spike re- flects that lack of familiarity with the tool. As time has passed and operators and guides have become accustomed to me- chanical brake usage, incidents have declined accordingly. A key takeaway here is that anytime you change your oper- ation in a large way, there is a learning curve. To shorten the learning curve, be extra cautious and invest in training. SAFETY SAVES: THE COST OF CLAIMS Data illustrating the changes in average participant claim costs can help operators adopt best practices.

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We are fortunate in this industry that individual operators do not have to deal with liability claims too often. However,

LIABILITY CLAIMS PER 100,000 PARTICIPANTS

7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00

6.02

3.98

4.21

4.28

4.02

3.12

2.30

1.72

2016

2017

2018

2019

Per 100K Participants Claims

Per 100K Participants Claims - Developed

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