[N060a]

noneconomic loss (NEL)
A loss that is not monetary in nature. Nor is it based upon financial (economic) standards. For example: a person whose finger is cut off in a piece of machinery while performing that normal job will have a financial loss associated with medical costs, but a noneconomic loss also occurs resulting from the loss of use of the finger. A loss has occurred because of the reduction in the quality of the employee's life. This is a noneconomic loss.