What is the Definition of No-Fault?
Auto insurance coverage that pays for each driver’s own injuries, regardless of who caused the accident. No-fault varies from state to state. It also refers to an auto liability insurance system that restricts lawsuits to serious cases. Such policies are designed to promote faster reimbursement and to reduce litigation.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
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What is the Definition of No-Fault?
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The unlawful taking of another's property with the intent to permanently deprive the owner of its use or possession.
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Person or entity not party to an agreement but with an interest in the agreement.
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Claims for injury or damage to property of a third party alleged to have been caused by the insured.
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