What Does Economic Damages Mean?

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What does Economic Damages mean? Read on to discover the definition & meaning of the term Economic Damages - to help you better understand the language used in insurance policies.

Economic Damages

Economic Damages

An award to an injured person in an amount sufficient to compensate for his or her actual monetary loss. Examples of monetary damages include awards for lost wages and medical expenses.

We hope the you have a better understanding of the meaning of Economic Damages.

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