Tuesday, December 4, 2012

Insurance Defination : Damage

If any bad thing happens below are three levels of Damage.

Damage: Actual loss or injury due to accident.
Compensatory Damage: In addition to actual loss or injury, this term may include amounts for expenses, loss of time, bodily suffering and mental suffering
Punitive Damage: Damages awarded over and above compensatory damages to punish a negligent party because of wanton, reckless, or malicious acts or omissions.

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