Unsatisfied Judgment Fund

Definition of "Unsatisfied judgment fund"

Joy Jones real estate agent

Written by

Joy Joneselite badge icon

Bluecoast Realty Jacksonville

Money set aside in some states to pay otherwise uncompensated bodily injury claims to innocent victims of automobile accidents. The claimants must prove that they were not at fault and that they cannot collect damages from the drivers who hit them. The responsible drivers then lose their licenses until they reimburse the fund.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Rule that provides four requirements for monitoring the independent agent distribution system: The insurance company must be involved in the training of the independent agent. The ...

Coverage of two or more individuals with the death benefit payable at the last death. Premiums are significantly lower than for policies that insure one person, since the probability of ...

Important means of preventing accidents and injuries. Insurers take corporate safety programs into account when rating workers compensation and other business insurance policies. ...

One named under provisions of the employee retirement income security act of 1974 (erisa) for a terminated pension plan with an unfunded liability for its benefits. ...

Act in which a life insurance company is permitted to transfer the death benefit from the policy to the custodian of a minor beneficiary provided the beneficiary designation has ...

Approach that reflects losses expected. It is a calculation of the pure cost of property or liability insurance protection without loadings for the insurance company's expenses, premium ...

Organization of inland marine insurance underwriters. ...

Coverage if an insured can not collect on property damage or destruction losses from the hired transporter. For example, a truck transporting furniture of the insured is involved in an ...

Expenses and damages incurred as the result of damage to a ship and its cargo and/or of taking direct action to prevent initial or further damage to the ship and its cargo. These expenses ...

Popular Insurance Questions