RAND Corporation researcher James M. Anderson noted no-fault insurance is a RAND Corporation researcher James M. Anderson noted no-fault insurance is a "classic example of the law of unintended consequences" in a 2010 report on the subject. Credit: tommaso79/Shutterstock

Initially conceived in the 1930s and seeing its first real-world use in the 1970s, no-fault auto insurance aims to make compensating auto accident victims quicker and less expensive by keeping relatively small claims out of the court systems by removing the lengthy and costly process of determining who is at fault following an accident.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]