They exchange information, file claims and what’s broken is fixed.
No-fault insurance emerged when insurance companies realized that they’d be much more profitable by paying up instead of going to court.
The same goes for leading any enterprise. Accidents happen. You or your team may make a mistake, somebody you count on may let you down, your equipment may fail or the market may swing suddenly.
Whatever happens, no-fault lets you take charge of your own recovery without wasting time finding fault. You’re covered; your team will handle it.
The next time crisis hits, look first at your decisions and performance. Don’t blow time or money on a witch hunt; just assess what happened, fix it the best way possible and deal with the consequences.
In no time, you’ll be back on the road.
—Adapted from Take Charge Get Results, George J. Morse, Morse & Associates Inc.