Recompensation refers to the act of providing something, typically financial or material, to offset a loss, injury, or wrong suffered. It's a form of making amends or restoring balance, going beyond simple reimbursement to address the impact of the event. This often involves acknowledging responsibility and attempting to 'right the wrongs' of a situation. It encompasses various forms, from financial payments to the provision of services or goods, aiming to restore the affected party's position as much as possible, but also often recognizing the lasting effects of the initial cause.
Recompensation meaning with examples
- After the company's data breach, offering data breach recompensation to affected customers, covering credit monitoring and identity theft protection, was critical to regaining trust and fulfilling legal obligations. This act helped retain customers and show the value of customer data.
- Following the disastrous flood that devastated the local town, the government implemented a flood recompensation scheme, providing funds for housing repairs and businesses, acknowledging that many people had lost their homes.
- The judge ordered the defendant to pay recompensation to the victim for pain and suffering, beyond just covering medical bills, recognizing the long-term psychological impact of the assault and to offer a form of justice.
- As a form of recompensation for the years of unpaid labour, the factory provided pension payments to all ex-employees, recognizing that many would have suffered, and to offer respect to the employee, rather than to simply apologize.
- As part of the settlement, the pharmaceutical company agreed to recompensation for those affected by a faulty drug, including the direct medical bills, ongoing therapies, and a further additional fund to assist in their daily lives.