The Effect of No fault Automobile Insurance on Driver Behavior and Automobile Accidents in the United States

Author: David S. Loughran
Publisher: Minnesota Historical Society
ISBN: 9780833030214
Format: PDF, ePub, Docs
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No-fault auto insurance opponents frequently argue that no-fault may ultimately lead to higher auto insurance costs by reducing drivers' incentives to drive carefully and thereby increasing the accident rate. The intuition behind this criticism of no-fault is simple: No-fault auto insurance lowers the cost of driving negligently by limiting first-party liability for the injuries suffered by third-parties in auto accidents. This book evaluates this criticism of no-fault by examining trends in fatal and non-fatal automobile accidents rates and rates of driver negligence in the United States between 1967 and 1989. Contrary to some earlier research, the author finds no evidence that the adoption of no-fault auto insurance between 1971 and 1976 in 16 states increased fatal accident rates in those states. This book also finds no correlation between the presence of no-fault auto insurance and a state's overall accident rate or rate of driver negligence.

The U S Experience with No Fault Automobile Insurance

Author: James M. Anderson
Publisher: Rand Corporation
ISBN: 0833049461
Format: PDF, ePub, Mobi
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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.

Research Handbook on the Economics of Torts

Author: Jennifer Arlen
Publisher: Edward Elgar Publishing
ISBN: 1781006172
Format: PDF, Mobi
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Focusing on issues of vital importance to those seeking to understand and reform the tort system, this volume takes a multi-disciplinary approach, including theoretical economic analysis, empirical analysis, socio-economic analysis, and behavioral anal

Handbook of Law and Economics

Author: A. Mitchell Polinsky
Publisher: Elsevier
ISBN: 0080554245
Format: PDF, Mobi
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Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions — for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the legal system are thus a natural subject of study by economists. Moreover, given the importance of law to the welfare of societies, the economic analysis of law merits prominent treatment as a subdiscipline of economics. Our hope is that this two volume Handbook will foster the study of the legal system by economists. *The two volumes form a comprehensive and accessible survey of the current state of the field. *Chapters prepared by leading specialists of the area. *Summarizes received results as well as new developments.

The Liability Century

Author: Kenneth S. Abraham
Publisher: Harvard University Press
ISBN: 9780674033771
Format: PDF, Mobi
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Kenneth Abraham explores the development and interdependency of the tort liability regime and the insurance system in the United States during the twentieth century and beyond, including the events of September 11, 2001. From its beginning late in the nineteenth century, the availability of liability insurance led to the creation of new forms of liability, heavily influenced expansion of the liabilities that already existed, and continually promoted increases in the amount of money that was awarded in tort suits. A "liability-and-insurance spiral" emerged, in which the availability of liability insurance encouraged the imposition of more liability, and, in turn, the imposition of liability encouraged the further spread of insurance. Liability insurance was not merely a source of funding for ever-greater amounts of tort liability. Liability insurers came to dominate tort litigation. They defended lawsuits against their policyholders, and they decided which cases to settle, fight, or appeal. The very idea behind insurance--that spreading losses among large numbers of policyholders is desirable--came to influence the ideology of tort law. To serve the aim of loss spreading, liability had to expand. Today the tort liability and insurance systems constantly interact, and to reform one the role of the other must be fully understood.

Selected Rand Abstracts

Author: Rand Corporation
Publisher:
ISBN:
Format: PDF, Kindle
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Includes publications previously listed in the supplements to the Index of selected publications of the Rand Corporation (Oct. 1962-Feb. 1963).

A Recipe for Balanced Tort Reform

Author: Jeffrey O'Connell
Publisher:
ISBN:
Format: PDF, Docs
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This book begins with detailed and evocative accounts of the workings of several actual personal injury cases with all their turbulence and tribulations. It then closely analyzes the (one-sided) tort reforms, both proposed and enacted, that leave too much of the present dysfunctional system intact, while even further undermining it. The authors provide a detailed account of a proposed reform: a device for encouraging defendants' "Early Offers" of claimants' economic losses designed to benefit both sides as well as society generally. This system, while greatly lessening the daunting uncertainty and delay plaguing personal injury claims today, would also make far better use of the resources that are expended. The book ends with an economic analysis documenting the dramatic savings in time and money from the early offers reform, exemplified in medical malpractice and product liability cases.

The Economics and Politics of Choice No Fault Insurance

Author: Edward L. Jr. Lascher
Publisher: Springer Science & Business Media
ISBN: 9780792374671
Format: PDF, ePub, Mobi
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In recent years, choice no-fault has emerged as a popular but controversial proposal for addressing the problem of high automobile insurance rates. Choice plans offer consumers the option of a lower-cost insurance policy with restrictions on filing lawsuits or a higher-cost policy with full tort rights. Some American states have implemented choice programs, and major federal choice legislation is now pending in the United States Congress. Choice no-fault has caught the attention of policy makers, the insurance industry, and academics. Until now, however, no single book has pulled together the available research on the topic. The Economics and Politics of Choice No-Fault Insurance fills that gap. Edited by scholars from different disciplines, each of whom has written extensively on automobile insurance issues, the book includes some of the best work in the area. Former Massachusetts Governor and presidential candidate Michael S. Dukakis wrote the foreword. Contributors include University of Virginia Law Professor Jeffrey O'Connell, widely considered the `father of no-fault,' as well as authors of the influential RAND study of the potential effects of choice no-fault on insurance rates. The book chapters, most of which were written especially for this volume, cover topics ranging from the impact of choice no-fault on accidents and driving behavior, to the effects of choice on medical care usage, to alternative approaches for resolving accidents involving both `no-fault' and `tort' electors, to the political feasibility of choice legislative proposals. Emphasis on the potential advantages of choice no-fault is balanced by consideration of possible ill effects.