The U.S. Experience with No-fault Automobile Insurance: A Retrospective
Rand Corporation, 2010 - Business & Economics - 170 pages
"No-fault automobile-insurance regimes were the culmination of decades of dissatisfaction with the use of the traditional tort system for compensating victims of automobile accidents. They promised quicker, fairer, less-contentious, and, it was hoped, less-expensive resolution of automobile-accident injuries. This monograph considers how these plans have fared. After reviewing the intellectual and political history of no-fault auto insurance, the monograph concludes that no-fault lost political popularity because of the perception that it did not deliver the promised consumer premium cost reductions. Analysis of data from a variety of sources confirms this view, demonstrating that premiums and claim costs have become substantially larger in no-fault states than in other states over time. These cost increases can be traced to a variety of factors, including growth in excess claiming in no-fault states and convergence between no-fault and tort states in litigation patterns and noneconomic-damage payments. However, the primary driver of no-fault's cost growth has been high medical costs. The extent to which these additional costs represent augmented utilization of medical services rather than cost shifting from the medical insurance system to the automobile insurance system remains unclear." --Back cover.
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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?
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All-Industry Research Advisory argued attorney auto insurance automobile accidents average bill calculations from IRC chiropractors choice claim costs claimants closed-claim data All-Industry comparative negligence compensation Consumers Union costs of no-fault coverage data All-Industry Research driver economic losses effect of no-fault expensive fault fault insurance Figure first-party insurance first-party medical insurance fraud hard-to-verify injuries health insurance incentives increase individuals insurance companies Insurance Regime insurance system IRC closed-claim data Keeton and O’Connell lawyers liability insurance liability premiums limitation litigation Mandatory add-on Massachusetts medical costs medical providers MedPay Michael Dukakis negligence no-fault and tort no-fault approach no-fault automobile insurance no-fault insurance no-fault laws no-fault regime no-fault system noneconomic damages Optional add-on pain and suffering payments percent plaintiffs property-damage proponents of no-fault proposed RAND recover reduce regressions reimbursement relative reported Research Advisory Council SOURCE subrogation sumer survey Table tort law Tort No-Fault tort system Trends types vehicle verbal threshold Widiss