Damages - Insurance Software development

Tangible and Intangible Damages

Author - Webner
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4:17 am
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Tangible damages are economic damages including medical and rehabilitation expenses and lost wages.

They are basically the physical damage to the assets like

Direct damages-

Building
contents
infrastructure

Indirect loss

industrial production
traffic disruption
emergency costs

The tangible damages can be easily quantified.

Intangible Damages

Intangible damages are harms like pain and suffering. They don’t have any monetary value assigned to them. It is more challenging to evaluate intangible losses because they are not easily identified as bills.

The intangible damages could be
Direct damages-

Loss of life
Health effects

Pain […]

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