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

Person, business, or organization specified as the insured (s) in a property or liability insurance policy. In some instances, the policy provides broader coverage to persons other than ...

No limitation under a contributory pension plan of an employee's right to receive vested benefits, regardless of whether or not the employer withdraws contributions. ...

Endorsement to a fidelity bond or surety bond to cover losses that occurred after lapse of the discovery period of the previous bond. Coverage is limited to the amount provided by the ...

Death caused by a person without legal justification. Wrongful death may be the result of negligence, such as when a drunken driver hits and kills someone; or it may be intentional, as when ...

Same as term Calendar Year Experience: paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...

Arrangement by which an employee can retire and receive full benefits without reduction, or reduced benefits subject to a penalty. These ages can be classified in the following manner: ...

Trust established under the Internal Revenue Service code that is used to provide accident and sickness benefits to member employees. ...

Additions made by Congress in 1978 to the Internal Revenue Code that provide an employee benefit plan under which the employee makes an irrevocable decision to forego a portion of future ...

Insurance company that has no outstanding shares of stock, such as a mutual insurance company. ...

Popular Insurance Questions