Even when you look at accident rates among cars, there is probably a lot of disparity depending on the environment (urban, suburban, rural, freeway, etc., night, dusk, day), and the type of driver. Some situations are simply more dangerous for drivers, and the same thing can be said for cyclists, so any generalization between the two is a bit meaningless IMO.

Plus, as an Bacciagalupe pointed out, bikes don't have the protections against injury that cars do. The link provided by him breaks down the situations where cyclists are most likely to be injured.