Economic Loss is defined as the amount of money lost, such as wages, medical or other expenses as a result of the injury.
Loss suffered of a direct financial nature, eg: loss of past and future income if unable to work as a result of an injury• Criminal Compensation
A financial loss resulting from, for example, the destruction of property in a fire. An economic loss includes the cost of restoring or replacing property - bit it does not include non-economic losses, such as pain caused by an injury.
The total financial loss resulting from a death or disability of a wage earner, or from destruction of property.
The estimated total cost, both insured and uninsured, of mishaps (such as motor vehicle accidents, work accidents, and fires); includes such factors as property damage, funeral expenses, wage loss, insurance administration costs, and medical, hospital and legal costs.
Future loss of earnings of a worker who has suffered an injury resulting in permanent impairment or temporary disability for 12 continuous months. This is the first part of the dual-award system.
Amount of money lost, such as income, medical bills or other expenses as a consequence of the accident.
There are legal rules, which restrict recovery of compensation for financial loss which arises without intervening physical damage or personal injury where the only loss is economic.
Total financial loss resulting from the death or disability of a wage earner, or from the destruction of property. Includes the loss of earnings, medical expenses, funeral expenses, the cost of restoring or replacing property, and legal expenses. It does not include noneconomic losses, such as pain caused by an injury.
