Definition of "Keeton-o"
Early type of no-fault automobile insurance developed by two law professors, Robert Keeton and Jeffrey O'Connell. Its basic premise is that for many accidents it is impossible to place the blame as required by the tort legal system. In this approach, each individual would be able to collect from his or her own insurance company without having to prove fault on the part of anyone.
Popular Insurance Terms
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Obligatory reinsurance contract in which a reinsurer agrees to pay for all or a large portion of losses up to a limit, when these losses exceed the retention level of the cedent. The ...
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Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
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Trust in which the trustee distributes capital and income to the beneficiaries of the trust according to their economic needs. ...
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