The Impact of No-Fault Legislation on Automobile Insurance Premiums
North American Actuarial Journal, Forthcoming
38 Pages Posted: 17 Apr 2008 Last revised: 26 Feb 2014
Date Written: December 1, 2009
Abstract
Since its inception, the effectiveness of no-fault legislation has been highly debated. While some research suggests that no-fault laws are effective in reducing costs, other evidence suggests that the current no-fault systems may not meet the original objectives. This study takes a closer look at the relation of no-fault legislation and premiums. With the sunset of Colorado’s no-fault legislation in 2003, the extension of Florida’s no-fault law to 2012, and proposed federal choice legislation, the overall impact of no-fault as well as the specific components of the laws are of heightened importance to consumers, insurers, and lawmakers.
Keywords: no-fault, automobile insurance, regulation, instrumental variables
JEL Classification: G22, G28, K23
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Earnings Inequality and Coordination Costs: Evidence from U.S. Law Firms
By Luis Garicano and Thomas N. Hubbard
-
Patterns in Personal Automobile Third-Party Bodily Injury Litigation: 1977 - 1997
By Mark J. Browne and Joan T. Schmit
-
Age and Gender Effects on Auto Liability Insurance Payouts
By Helen I. Doerpinghaus, Joan T. Schmit, ...
-
The Market for Lawyers: The Value of Information on the Quality of Legal Services
By Elisabetta Iossa and Bruno Jullien
-
Access to Justice and Litigation Trade-Off: A Theoretical Analysis
-
First‐Party Versus Third‐Party Compensation for Automobile Accidents: Evidence from Canada
By Anne Kleffner and Maureen Tomlinson
