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How effective are compulsory insurance laws

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Reference no: EM133186057

Question 1

All states have financial responsibility or compulsory insurance laws hat required motorists to carry at least minimum amounts of auto liability insurance. 

Does a financial responsibility law or compulsory insurance law guarantee that injured auto accident victims will be adequately compensated for their injuries? Explain your answer

How effective are compulsory insurance laws in reducing the problem of uninsured drivers?

Question 2

Uninsured motorists coereage is another approach to the problem of uninsured drivers.

Explain the advantages of uninsured motorists coverage in meeting the problem on uninsured drivers.

Explain the defects of uninsured motorists coverage as a technique for compensating people who are injured by uninsured drivers.

Question 3

A number of states have passed some type of no-fault auto insurance laws to compensate injured auto accident victims.

Describe the no-fault benefits that are typically paid in a state with a no-fault law

Why have no-fault auto insurance laws been enacted?

Explain the arguments against no-fault auto insurance laws

How well have no-fault auto insurance laws worked? Explain your answer.

Question 4

Compensating innocent victims of high-risk drivers is problematic for society. An automobile insurance plan (assigned risk plan) is one approach to the problem of providing auto insurance to high-risk drivers.

What is an automobile insurance plan?

Describe the eligibility requirements for obtaining insurance from an automotive insurance plan

Explain the process for assigning high-risk drivers to individuals insurers

Explain the disadvantages of automobile insurance plans

Reference no: EM133186057

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