Exemplary damages

{
  "id": "MLC-T-INS-001387",
  "term": "Exemplary damages",
  "field": "Insurance and risk management",
  "definition": "Monetary compensation awarded by a court in addition to actual damages, intended to punish the defendant for egregious conduct and deter similar actions by others. These damages are not meant to compensate the plaintiff for losses but rather to make an example of the defendant. Insurance policies often exclude coverage for exemplary damages due to their punitive nature.",
  "url": "https://mlchart.com/terminology/insurance/exemplary-damages/"
}