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GLOSSARY

GLOSSARY TERMS by Alpha
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Named insured
Named non-owner policy
Named peril coverage
National Association of Insurance Commissioners (NAIC)
National Association of Insurance Women (NAIW)
National Council on Compensation Insurance (NCCI)
National Flood Insurance Program (NFIP)
Negligence
Net loss
No-fault
No-Fault Auto Insurance
Non medical insurance
Nonparticipating life insurance policy
Nonrenewable
Notice of loss

No-Fault Auto Insurance

A few states have laws that partially exempt drivers from legal liability for auto accidents. In these "no fault" states car owners buy insurance to protect themselves and their passengers from the economic and medical effects of auto accidents in addition to liability insurance at whatever limit the statute decrees. Professors Robert Keeton and Jeffrey O’Connell gave the "no fault" notion impetus with the 1967 publication of their study "After Cars Crash."

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