Liability, Civil Damages Awarded
Three types of damages can be awarded to a plaintiff:
- Special Damages reimbursement for out-of-pocket expenses, including medical bills, legal charges, cost of repairing damaged or destroyed property, and loss of current and projected income.
- General Damages�reimbursement for damages that do not readily lend themselves to quantitative measurement, commonly known as"pain and suffering."
- Punitive Damages�reimbursement for damages due to gross negligence by a defendant.
Popular Insurance Terms
Individual to whom rights to a benefit are assigned. A life insurance policy is assigned by the collateral borrower (assignor) to the collateral creditor (assignee) as security for a loan. ...
Same as term Cancel: termination of a policy. Contract may be terminated by an insured or insurer as stated in the policy. If the insurance company cancels a policy, any unearned premiums ...
Coverage in event of damage or destruction of animals that are being shipped. ...
Coverage against a loss resulting from the forcible entry of a safe. In order for this coverage to be applicable, there must be signs of forcible entry into the premises in which the safe ...
Small face amount life insurance policy. ...
Total earned premiums minus total expenses and losses paid of the insurance company. ...
Time during which an assessment life insurance company has the right to assess policyholders if losses are worse than anticipated in the premium charged. ...
Combination life insurance policy consisting of ordinary life and double the amount of term life. Should the insured die within a stipulated time period, the double term amount and ordinary ...
Type of disability income policy used to provide funds for the ongoing monthly business expenses (such as employee salaries, utility charges, rent, and equipment payment due) necessary to ...

Have a question or comment?
We're here to help.