MLchartDataset catalogue

Tort threshold

Term · Insurance and risk management · MLC-T-INS-003342

A legal requirement in some no-fault automobile insurance systems that specifies the minimum level of injury or damage a person must sustain before they are permitted to sue for non-economic damages, such as pain and suffering. This threshold can be either verbal, describing the type of injury, or monetary, requiring a certain dollar amount of medical expenses. Its purpose is to reduce the number of minor lawsuits.

Table 1. Record
IdentifierMLC-T-INS-003342
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003342",
  "term": "Tort threshold",
  "field": "Insurance and risk management",
  "definition": "A legal requirement in some no-fault automobile insurance systems that specifies the minimum level of injury or damage a person must sustain before they are permitted to sue for non-economic damages, such as pain and suffering. This threshold can be either verbal, describing the type of injury, or monetary, requiring a certain dollar amount of medical expenses. Its purpose is to reduce the number of minor lawsuits.",
  "url": "https://mlchart.com/terminology/insurance/tort-threshold/"
}

Record 3,408 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.