Hawaii Revised Statutes 431:10C-301.5 – Covered loss deductible
Current as of: 2024 | Check for updates
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Terms Used In Hawaii Revised Statutes 431:10C-301.5
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Injury: means accidental harm not resulting in death. See Hawaii Revised Statutes 431:10C-103
- Maximum limit: means the total personal injury protection benefits payable for coverage under section 431:10C-103. See Hawaii Revised Statutes 431:10C-103
- Person: means , when appropriate to the context, not only individuals, but corporations, firms, associations, and societies. See Hawaii Revised Statutes 431:10C-103
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Whenever a person effects a recovery for bodily injury, whether by suit, arbitration, or settlement, and it is determined that the person is entitled to recover damages, the judgment, settlement, or award shall be reduced by $5,000 or the amount of personal injury protection benefits incurred, whichever is greater, up to the maximum limit. The covered loss deductible shall not include benefits paid or incurred under any optional additional coverage, benefits paid under any public assistance program, or benefits paid or incurred under chapter 386.