RAND Corporation researcher James M. Anderson noted no-fault insurance is a RAND Corporation researcher James M. Anderson noted no-fault insurance is a "classic example of the law of unintended consequences" in a 2010 report on the subject. Credit: tommaso79/Shutterstock

Initially conceived in the 1930s and seeing its first real-world use in the 1970s, no-fault auto insurance aims to make compensating auto accident victims quicker and less expensive by keeping relatively small claims out of the court systems by removing the lengthy and costly process of determining who is at fault following an accident.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]