Which type of loss includes items that can be measured?

Study for the Ontario Automobile Insurance License Test. Practice with flashcards and multiple choice questions, each question comes with hints and explanations. Get ready for your exam!

The correct response is economic loss, as this type of loss pertains to quantifiable financial impacts resulting from an incident. Economic losses are specifically measurable in terms of monetary value, which can include lost wages, medical expenses, property damage, and other costs that can be assigned a direct dollar amount. This makes it possible for individuals or businesses to calculate the financial implications of an injury or accident precisely.

In contrast, non-economic loss refers to intangible aspects such as pain and suffering or emotional distress, which, while significant, do not have a straightforward monetary measure. Statutory loss typically relates to losses defined by specific legislation and may not necessarily imply a valuation based solely on financial measurements. General loss is more ambiguous and lacks the clear definitions present in economic loss, making it harder to categorize under specific measurable criteria.

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