MLchartDataset catalogue

Multiplied damages

Term · Insurance and risk management · MLC-T-INS-002257

A monetary award in a lawsuit where the compensatory damages determined by the court are increased by a statutory factor, such as being doubled or tripled. These punitive awards are intended to penalize a defendant for egregious, willful, or malicious conduct and to deter similar behavior in the future. For example, under the Racketeer Influenced and Corrupt Organizations (RICO) Act, a plaintiff can recover treble damages, meaning three times the amount of their actual financial loss.

Table 1. Record
IdentifierMLC-T-INS-002257
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002257",
  "term": "Multiplied damages",
  "field": "Insurance and risk management",
  "definition": "A monetary award in a lawsuit where the compensatory damages determined by the court are increased by a statutory factor, such as being doubled or tripled. These punitive awards are intended to penalize a defendant for egregious, willful, or malicious conduct and to deter similar behavior in the future. For example, under the Racketeer Influenced and Corrupt Organizations (RICO) Act, a plaintiff can recover treble damages, meaning three times the amount of their actual financial loss.",
  "url": "https://mlchart.com/terminology/insurance/multiplied-damages/"
}

Record 2,246 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.