Recovery Payments

Recovery payments refer to the financial compensation provided to individuals or businesses to help them recover from a loss or setback. These payments are typically made by insurance companies, government agencies, or other entities responsible for mitigating the impact of a disaster, accident, or economic downturn. Recovery payments can include reimbursement for property damage, medical expenses, lost wages, or other costs incurred during the recovery process. They play a crucial role in assisting individuals and businesses in rebuilding and regaining financial stability after a challenging event.