This paper presents a theoretical and empirical analysis of the effects of no-fault automobile insurance on accident rates. As a mechanism for compensating the victims of automobile accidents, no-fault has several important advantages over the tort system. However, by restricting access to tort,...

The objective of this paper is to discuss the use of modern frontier efficiency analysis to analyze firm performance in the insurance industry. The objective is to provide the foundations for insurance economists to use in adapting their research to incorporate the frontier efficiency approach....