What percentage of liability payment is allocated for bodily injury in a priority of payment scenario?

In a priority of payment scenario, the allocation for bodily injury claims reflects the insurance industry's approach to ensuring that the most serious and impactful claims are prioritized. This typically involves a high percentage of the total liability payment being reserved for bodily injury, given that these claims often represent the most significant financial and personal consequences for individuals involved in an incident.

Having 95% allocated for bodily injury underscores the prioritization of physical harm over other potential claims. This allocation ensures that sufficient funds are available to cover medical expenses, rehabilitation costs, lost wages, and other damages related to bodily injury claims, which are often the most pressing issues following an accident. Other types of claims, such as property damage or economic losses, may receive the remaining percentage, but bodily injury is typically given the highest priority due to its direct impact on individuals' lives and health.

In the context of the insurance industry's common practices, having such a high allocation for bodily injury in priority of payment scenarios reflects both the legal requirements and ethical considerations involved in providing adequate support to injured parties.