Chapter 21 Auto Insurance (Continued)
“The current system of paying for auto injuries suffers from two fundamental problems: premiums are too high and victims with serious injuries rarely receive full compensation.”
Joint Economic Committee, 105th Congress
Learning Objectives
After studying this chapter, you should be able to
Describe each of the following approaches for compensating auto accident victims:
– Financial responsibility laws
– Compulsory insurance laws
– Unsatisfied judgment fund
– Uninsured motorists coverage
– Low-cost auto insurance
– “No pay, no play” laws
Explain the meaning of no-fault auto insurance and the rationale for no-fault insurance laws.
Describe each of the following methods for providing auto insurance to high-risk ...
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