Definition: No-at Fault Insurance (NFA) is a type of insurance policy that allows the insured party to claim damages from an insurer if the insured party's negligence results in an accident or injury, even though it was not intentional on the part of the insured party. In NFA, the term "no at fault" refers to the fact that the insured party has no duty of care towards their own safety. Therefore, they must accept any consequences of their actions as a result of negligence due to their own fault. NFA policies typically require the insured party to pay out on claims made against them. The insurer will only be liable for damages if there is an actual breach of contract or intentional act by the insured party. Some key features of NFA include: - Automatic coverage for injuries and deaths caused by negligence - Automatic liability coverage for damage or loss arising out of accidents resulting from negligence - Automatic settlement payment to the policyholder in case of claims made against the insurer (except for claims against a third-party) - Automatic withdrawal of premium payments if the insured party's negligence results in an accident NFA is often used by organizations like law firms, insurance companies and hospitals as it can help reduce costs associated with large claims. However, it should be noted that NFA policies are not compulsory and may only apply to a certain type of coverage or to specific types of injuries.
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