When And Where Punitive Damages Are Insurable: Part 1

Law360, New York (February 14, 2017, 9:32 AM EST) -- Punitive damages are assessed against a liable party in especially egregious circumstances as a form of punishment and as a means of deterrence, as opposed to compensatory damages, which serve the purpose of restitution. As such, the amount awarded for punitive damages may greatly exceed the amount of actual loss suffered by a plaintiff. When punitive damages are awarded against an insured, the questions that naturally arise are whether those punitive damages are covered and whether they were even insurable in the first place. In other...
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