Review Questions
a.
What is a financial responsibility law?
What is a compulsory insurance law?
a.
Describe the characteristics of unsatisfied judgment funds.
How are unsatisfied judgment funds financed?
a.
Describe the characteristics of a low-cost auto insurance plan.
What is a “no pay, no play” law?
a.
What is no-fault auto insurance?
What is the difference between a monetary threshold and a verbal threshold?
Describe the major types of no-fault laws.
List the arguments for and against no-fault auto insurance.
Describe the characteristics of automobile insurance plans.
What is a Joint Underwriting Association (JUA)?
Describe the characteristics of a reinsurance facility.
Describe the characteristics of specialty insurers.
a.
Identify the factors ...
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