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.
"No-fault" In Context
"There’s more hope for taxpayers who have to pay the tax bill of an estranged spouse through no fault of their own. Alert: The IRS has issued a Notice proposing a new revenue procedure about the “innocent spouse” rules. (IRS Notice 2012-8) The changes ..." This Insurance Word is available for Sponsorship Sponsor this Definition Today.