Citation

Brainard CH, Fitzgerald JF. J. Risk Insur. 1974; 41(1): 25-39.

Copyright

(Copyright © 1974, American Risk and Insurance Association, Publisher John Wiley and Sons)

DOI

10.2307/252089

PMID

unavailable

Abstract

In the early summer of 1973, insurers representing about 65 percent of the Florida private passenger automobile insurance market co-operated in supplying incurred accident-year experience for 1971 and 1972 to provide a basis for measuring probable first-year cost results in Florida under no-fault. Insurers differed, and sometimes substantially, in their reported results. But a summary of all submissions indicates a probable increase in insurer costs at the 15-month development. This is in marked contrast with the Massachusetts experience reported a year ago in the Journal and casts doubt on the present ability of no-fault system designers to balance threshold and benefit accounts without actual market experimentation.