December 8, 2022 from Casualty Actuarial Society
A new report from the Canadian Institute of Actuaries (CIA) and the Casualty Actuarial Society (CAS) analyzes the impact of marijuana decriminalization on the vehicular accident experience in Canada and the United States. The study did not detect any statistically significant impacts of decriminalization on the car accident fatality rate, insurance claim frequency or average cost per claim, particularly over the long term.
Assessing the Impact of Marijuana Decriminalization on Vehicle Accident Experience finds, based on insurance statistics, that there were no significant changes to the trend and seasonal variations in Canadian traffic accidents after the change in legal status. Similarly, the estimated state-wide effects of decriminalization in the US do not show any consistent, significant results that would support a conclusion that decriminalization led to an increase in road accidents or fatalities.
