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- Title
The Costing of No-Fault Automobile Insurance.
- Authors
Todd, Jerry D.
- Abstract
Because potential cost reduction is considered the main selling point of no-fault automobile insurance, several cost predictive studies have been undertaken. This paper examines the methodology and assumptions used in the two principal types of cost prediction systems: projection from tort-based data using appropriate actuarial assumptions and analysis and transference of actual results in states with no-fault laws. Serious limitations and errors are pointed out in several studies. The concept of cost is then analyzed, showing that it tends to be manipulated to serve each user's purposes. Also, at least two factors--plaintiff attorney fees and effects on other insurance--are ignored in most cost studies.
- Subjects
NO-fault automobile insurance; AUTOMOBILE insurance; COST control; STUDY &; teaching of automobile repair; COMPULSORY insurance
- Publication
Journal of Risk & Insurance, 1976, Vol 43, Issue 3, p431
- ISSN
0022-4367
- Publication type
Article
- DOI
10.2307/251911