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Automobile Accident Compensation: Who Pays How Much How Soon
TLDR
In this paper, the authors applied statistical methods to national closed claims data and national survey data about automobile accident compensation and found that no-fault schemes appear to increase the proportion of victims being compensated and that because fewer victims are paid general damages, payments to similarly situated victims vary less in no fault states than in tort states.Abstract:
Statistical methods are applied to national closed claims data and national survey data about automobile accident compensation. The empirical analysis confirms some conventional wisdom and reveals some surprises. As intended, no-fault schemes appear to increase the proportion of victims being compensated. Moreover, because fewer victims are paid general damages, payments to similarly situated victims vary less in no-fault states than in tort states. Even modest tort thresholds work surprisingly well in reducing the number of bodily injury insurance claims. Finally, the empirical evidence on the effects of shifting from contributory negligence to comparative negligence is weak.read more
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The Effect of Automobile Insurance and Accident Liability Laws on Traffic Fatalities
Alma Cohen,Rajeev Dehejia +1 more
TL;DR: In this paper, the authors investigate the incentive effects of automobile insurance, compulsory insurance laws, and no-fault liability laws on driver behavior and traffic fatalities, and find evidence that automobile insurance has moral hazard costs, leading to an increase in traffic fatalities.
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Is compensation "bad for health"? A systematic meta-review
TL;DR: One higher quality review examining a single compensation process and relying on primary studies using health outcome (rather than proxy) measures found strong evidence of no association between litigation and poor health following whiplash, challenging the general belief that legal processes have a negative impact on health status.
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Fault, Settlement, and Negligence Law
TL;DR: The authors found that the letter of the law may be less important in shaping individuals' behavior than scholars have supposed, and data from insurance settlements arising out of auto accidents are consistent with the anecdotal evidence.
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No-Fault for Motor Vehicles: An Economic Analysis
Yu-Ping Liao,Michelle J. White +1 more
TL;DR: In this article, the authors compare incentives and efficiency under the pure tort system (the comparative negligence rule) to those under pure and mixed no-fault systems, and find that no single liability system always dominates on efficiency grounds.
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An Economic Analysis of Auto Compensation Systems: Choice Experiences From New Jersey and Pennsylvania
Joan T. Schmit,Jason J. H. Yeh +1 more
TL;DR: In this article, the authors compare the effects of choice on outcomes such as use of attorneys, speed of payment, and consistency (equity) of payment in New Jersey and Pennsylvania.
References
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Bodily Injury Claim Payments as a Function of Automobile Liability Insurance Limits
TL;DR: In this article, the authors investigated the relationship between bodily injury claim payments and the limits of liability insurance carried by the insured and found that relatively more suits involved policies with higher limits and these suits yielded higher judgments.