Litigation Compensation Awards
Compensation is generally defined as the amount received to "make one whole" after an injury or loss.
In a lawsuit, the judge or jury will award damages based on a number of things. The types of litigation awards in a lawsuit include:
- Actual damages, which is the amount of compensation awarded for financial loss (such as lost wages and medical bills) and pain and suffering (which are based on the severity of an injury, recovery time and any long term or permanent effects of the injury.
- Compensatory damages, which cover the economic losses for damage to personal property.
- Statutory damages are damages a law or statute states are to be paid for specific disputes.
- Punitive damages, which are awarded over and above any other damages awarded as compensation in a lawsuit. A judge or jury will award punitive damages to punish the losing parties for their willful and/or malicious actions which caused the injury or loss.
To find out more about legal compensation, have your negligence lawsuit reviewed by filling out a form today.
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