What does Post Judgment Interest mean? Read on to discover the definition & meaning of the term Post Judgment Interest - to help you better understand the language used in insurance policies.
Post Judgment Interest
Interest on any judgment against the insured that accrues from the time the judgment is entered by the court to the time the actual payment is made. Post-judgment interest, when awarded as part of a judgment against the insured, is covered by the supplementary payments provision of standard general liability policies. A policy providing this coverage requires the insurer to pay interest on the entire judgment, even if that judgment is larger than the limits of liability. The reason for this is that the timing of the insurer's payment is beyond the control of the insured, and interest imposed during delays by the insurer in satisfying the judgment should be the insurer's responsibility.
We hope the you have a better understanding of the meaning of Post Judgment Interest.