What are punitive damages? How frequently are they awarded? Where are punitive damages insurable and what types of insurance products are available?
This paper addresses these questions and finds:
Only 3% of punitive damage awards occur in jurisdictions where insurability is not restricted.
Our report provides information on the availability and prevalence of punitive damage awards, the insurability of punitive damages in the United States, and the pros and cons of insurance products designed to cover punitive liability.