Auto Insurance Claims: insurance record for a bicyclist, bicycle accident, local community college

Question
Six weeks ago, my son who is 17 and a minor, was hit in the crosswalk of our local community college while riding his bicycle home from school. The driver had a stop sign and never looked right before pulling into traffic.  Although I don't believe my son was 30% at fault, we settled with the insurance company of the young man who hit my son on a 70/30 basis of culpability, because I was satisfied that my son's costs (replacement of bicycle, medical, and pain and suffering) were fully covered and he does not have lasting injuries. My concern is that I have somehow messed up my son's insurance record and that if at some point in the future he has an accident, that there is now a record saying he is at fault in this bicycle accident and it will negatively affect him and his insurance rates.  By the way, we did not use our insurance at all in the accident.  All damages were covered by the driver of the car.  I'm not sure if I'm being paranoid, or if there is some kind of big insurance database out there that will see him as a poor liability.  Two questions, is the insurance industry now watching my son, and if so for how many years?  And second, if I have messed up my son's insurance record, is it too late to correct my error since he is a minor, and I'm the one who signed everything on his behalf?

Answer
Hi Ingrid,
If your son has a drivers license ot a learners permit and a police report was made, then the odds are very strong that it will show on his driving record.
Since this was settled on a 70/30 basis, unless you paid the driver of the car at least $500 toward his damage, it is not considered a 'chargeable' accident and will have no future affect on his record.  If there was no police report or if your son does not have a drivers license or learners permit, the odds are practically nil that there will be any record against him.
This case is now settled and all legal releases have been signed, there is no way to undo it.
I trust this information has been helpful.
Your feedback by rating my answer will be appreciated.
Sincerely,
Bennie
San Francisco Bay Area 11-07-07 4:54 AM PST