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Insurance & Risk Management
18. Chapter 21: Auto Insurance and Society/Approaches for Compensating Auto Accident Victims
18. Chapter 21: Auto Insurance and Society Illustration
Syllabus Slides

Approaches for Compensating Auto Accident Victims

01.Core Concepts

No-fault benefits are provided by adding an endorsement to an auto insurance policy, typically called personal injury protection coverage (PIP) Benefits are restricted to the injured person’s economic loss, which includes: Medical expenses Loss of earnings Essential services expenses, e.g., housework Funeral expenses Survivors’ loss benefits