Victim Compensation Fund
/ˈvɪktɪm ˌkɑːmpənˈseɪʃən fʌnd/
Definitions
- (n.) A fund established by government or statute to provide monetary relief to individuals harmed by crimes or disasters, compensating for losses not covered by insurance.
Survivors applied to the victim compensation fund to cover medical expenses after the assault.
- (n.) A specialized financial pool set up to expedite payments to victims following specific catastrophic events, such as terrorist attacks or large-scale accidents.
The government created a victim compensation fund after the building collapse to assist families of the victims.
Forms
- victim compensation fund
- victim compensation funds
Related terms
See also
Commentary
Usually established by statute, such funds serve as a no-fault mechanism to aid victims promptly; drafters should clarify eligibility criteria and funding sources clearly.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.