MLchartDataset catalogue

Choice no-fault

Term · Insurance and risk management · MLC-T-INS-000752

A type of automobile insurance system where policyholders have the option to choose between a traditional tort system or a no-fault system. Under the no-fault option, individuals receive benefits from their own insurer regardless of fault, but their right to sue for pain and suffering may be limited. This system aims to reduce litigation and speed up claims payments.

Table 1. Record
IdentifierMLC-T-INS-000752
FieldInsurance and risk management
SubjectCommercial Auto
Record as JSON 
{
  "id": "MLC-T-INS-000752",
  "term": "Choice no-fault",
  "field": "Insurance and risk management",
  "definition": "A type of automobile insurance system where policyholders have the option to choose between a traditional tort system or a no-fault system. Under the no-fault option, individuals receive benefits from their own insurer regardless of fault, but their right to sue for pain and suffering may be limited. This system aims to reduce litigation and speed up claims payments.",
  "subject": "Commercial Auto",
  "url": "https://mlchart.com/terminology/insurance/choice-no-fault/"
}

Record 527 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.