Money Damages
Payments awarded by a court in a liability suit. Money damages can be broken down into compensatory and punitive. Compensatory damages reimburse a plaintiff for expenses incurred for such things as disability, disfigurement, and pain and suffering. Punitive damages go beyond this to punish and make an example of a defendant. In recent years, punitive damages have become increasingly common, and insurers claim that the frequency of multimillion dollar jury awards has made the business of underwriting difficult.
Popular Insurance Terms
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Agreement by the insured that, simply because the insurer investigates and determines a value for the claim, the insurer does not admit liability for the claim. ...
Providing coverage for physicians' fees, expenses associated with nonsurgical care whether in the insured's home, hospital, or the physician's office, and expenses connected with X-rays and ...
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Latin phrase meaning "without which not," signifying a legal rule in tort and negligence cases. Under this rule, a plaintiff trying to prove that an injury was a direct result of a ...
Coverage on an all risks basis for loss due to theft or mysterious disappearance of personal property; damage to premises and property within resulting from theft; and vandalism and ...
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