Total financial loss resulting from the death or disability of a wage earner, or from the destruction of property. Includes the loss of earnings, medical expenses, funeral expenses, the cost of restoring or replacing property and legal expenses. It does not include noneconomic losses, such as pain caused by an injury.

"Economic Loss" In Context

"I sympathize with the nuns who were not compensated for the practical work they did, but to diminish their sacrifice as an economic loss is to forget the thousands of kids who went on to Cathedral Preparatory School, Villa Maria, St. Benedict ..."