Exemplary damages are a form of monetary compensation awarded in a lawsuit not only to reimburse the plaintiff for losses but also to punish the defendant for their behavior and deter others from committing similar acts in the future.
Exemplary damages serve as a mechanism to deter individuals and companies from harmful or irresponsible behavior.
In the context of insurance, exemplary damages may arise in cases of gross negligence by an insurer, such as unjustly denying a claim. This can influence how insurers handle their policies and demands.
Exemplary damages are more common in tort liability cases, such as personal injury lawsuits, defamation, and medical negligence, where the defendant’s conduct may be considered morally reprehensible.
At PSIC, we truly prioritize safeguarding your finances. If you are found legally liable for harm caused to another person’s body or property, we are here to assist you in accordance with your policy’s terms.
However, it’s essential to understand that exemplary damages stem from actions that are usually deliberate. Since we adhere to the principle of good faith, we do not offer coverage for expenses categorized as exemplary damages in a court of law.
Our goal is to ensure you feel secure and well-informed, and we’re always available to help you grasp your coverage and the options at your disposal. If you have any questions about this topic, we recommend that you carefully read your policy or contact your insurance agent.
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Privacy Notice at Collection for CA employees
Last updated: June 27, 2023
We take the privacy of our employees and applicants very seriously. Please read this notice carefully as it contains important information on the personal information that we collect, why we collect it, how long we keep it, and that it is not sold to third parties.
Other terms used but not defined will have the meaning set forth in the CCPA, as amended by the CPRA, Cal. Civ. Code §§ 1798.100—1798.199.100, and accompanying regulations set forth under Cal. Code Regs. tit. 11, § 7000 et seq.
Categories of Personal Information Collected
Purposes for Collecting and Using Your Personal Information
Managing Human Resource Functions:
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Monitoring:
Compliance with:
Investigating:
We will not retain your personal information for longer than necessary for the purposes set out in this notice. Different retention periods apply for different types of personal information.
When it is no longer necessary to retain your personal information, we will delete or anonymize it.