The U.S. Experience with No-Fault Automobile Insurance: A Retrospective
Rand Corporation, Feb 15, 2010 - Business & Economics - 190 pages
No-fault regimes, a formerly popular alternative to the tort compensation system for auto-accident victims, have gradually lost support. Over time, premiums and claim costs have grown in no-fault states relative to other states, primarily driven by explosive medical cost increases. No-fault and tort states have also converged across many domains affecting costs, including excess claiming, litigation patterns, and noneconomic-damage payments.
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CHAPTER ONE Introduction
CHAPTER TWO A Primer on Tort and NoFault Systems
CHAPTER THREE A Brief History of NoFault
CHAPTER FOUR The Cost of NoFault
CHAPTER FIVE Why Have NoFault Regimes Been More Expensive Than Anticipated?
CHAPTER SIX Conclusion Policy Implications and Future Developments
APPENDIX Required Insurance and Actual Insurance
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