Unsatisfied Judgment Fund

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Unsatisfied Judgment Fund

A fund established by a state government to compensate persons who are involved in automobile accidents that are not sufficiently covered by the other motorists' insurance. In general, drivers are required to carry insurance on their automobiles in case they are at fault in an accident. Unsatisfied judgment funds exist so as not to punish the wrong person in case the other party does not carry the mandatory insurance.
References in periodicals archive ?
There are unsatisfied judgment funds in several states but their continued existence is always subject to the political currents and financial conditions that arise in those states.
Generally, the rules for the submission of a claim under the unsatisfied judgment fund are similar to the requirements for asserting a claim under standard uninsured motorists coverage.