The U.S. experience with no-fault automobile insurance : a retrospective /

The U.S. experience with no-fault automobile insurance : a retrospective /

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Bibliographic Details
Author / Creator:	Anderson, James M.
Imprint:	Santa Monica, CA : RAND, 2010.
Description:	1 online resource (xx, 170 pages) : illustrations
Language:	English
Series:	Rand Corporation monograph series Rand Corporation monograph series.
Subject:	No-fault automobile insurance -- Law and legislation -- United States. No-fault automobile insurance -- United States. Liability for traffic accidents -- United States. Liability for traffic accidents. No-fault automobile insurance. No-fault automobile insurance -- Law and legislation. United States. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/11206492

Hidden Bibliographic Details
Varying Form of Title:	United States experience with no-fault automobile insurance
Other authors / contributors:	Heaton, Paul, 1978- Carroll, Stephen J., 1940-
ISBN:	9780833049469 0833049461 9780833049162 083304916X
Digital file characteristics:	text file PDF
Notes:	Includes bibliographical references. English. Print version record.
Summary:	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.
Other form:	Print version: Anderson, James M. U.S. experience with no-fault automobile insurance. Santa Monica, CA : RAND, 2010 9780833049162

Description
Summary:	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.
Physical Description:	1 online resource (xx, 170 pages) : illustrations
Bibliography:	Includes bibliographical references.
ISBN:	9780833049469 0833049461 9780833049162 083304916X