Unsatisfied Judgment Fund
Definition of "Unsatisfied judgment fund"
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.
Popular Insurance Terms
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Maximum age of an applicant or insured beyond which an insurance company will not initially underwrite a risk or continue to insure it. For example, under some forms of renewable term life ...
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