MLchartDataset catalogue

Extracontractual damages

Term · Insurance and risk management · MLC-T-INS-001436

Monetary awards granted by a court that exceed the limits of an insurance policy, typically due to an insurer's bad faith conduct in handling a claim. These damages are not specified in the insurance contract but are imposed as a penalty for egregious behavior. They can include punitive damages or compensation for emotional distress.

Table 1. Record
IdentifierMLC-T-INS-001436
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001436",
  "term": "Extracontractual damages",
  "field": "Insurance and risk management",
  "definition": "Monetary awards granted by a court that exceed the limits of an insurance policy, typically due to an insurer's bad faith conduct in handling a claim. These damages are not specified in the insurance contract but are imposed as a penalty for egregious behavior. They can include punitive damages or compensation for emotional distress.",
  "url": "https://mlchart.com/terminology/insurance/extracontractual-damages/"
}

Record 1,281 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.