TY  - JOUR
PY  - 1993//
TI  - No-Fault Approaches to Compensating Auto Accident Victims
JO  - Journal of Risk and Insurance
A1  - Carroll, Stephen J.
A1  - Kakalik, James S.
SP  - 265
EP  - 287
VL  - 60
IS  - 2
N2  - This study estimates the effects of a broad range of alternative no-fault auto insurance plans, compared with the traditional tort system. A simulation model relating accident victims' injuries and losses to their expected auto insurance compensation under a specified no-fault plan is applied to a representative sample of auto accident victims in the tort states. Their estimated compensation under each of several no-fault alternatives is then compared to their actual compensation. The results indicate that no-fault can yield substantial savings over the traditional system, or may increase costs substantially, depending on the no-fault plan's provisions. Regardless of plan provisions, all no-fault plans reduce transaction costs, match compensation more closely with economic loss, reduce the amounts paid in compensation for noneconomic loss to less seriously injured people, and speed up compensation.<p /> 
LA  - 
SN  - 0022-4367
UR  - http://dx.doi.org/10.2307/252907
ID  - ref1
ER  -