MLchartDataset catalogue

Compensatory damages

Term · Insurance and risk management · MLC-T-INS-000864

Monetary awards granted to an injured party in a lawsuit to cover actual losses and restore them to their pre-injury financial state. These damages can include medical expenses, lost wages, property repair costs, and pain and suffering. They are distinct from punitive damages, which are intended to punish the at-fault party.

Table 1. Record
IdentifierMLC-T-INS-000864
FieldInsurance and risk management
SubjectCommercial Auto
Record as JSON 
{
  "id": "MLC-T-INS-000864",
  "term": "Compensatory damages",
  "field": "Insurance and risk management",
  "definition": "Monetary awards granted to an injured party in a lawsuit to cover actual losses and restore them to their pre-injury financial state. These damages can include medical expenses, lost wages, property repair costs, and pain and suffering. They are distinct from punitive damages, which are intended to punish the at-fault party.",
  "subject": "Commercial Auto",
  "url": "https://mlchart.com/terminology/insurance/compensatory-damages/"
}

Record 657 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.