Search box

Definition: Payments of compensation

European System of Accounts (ESA)

Current transfers paid by institutional units to other institutional units in compensation for injury to persons or damage to property caused by the former, excluding payments of non-life insurance claims. Payments of compensation could be either compulsory payments awarded by a court of law, or ex gratia payments agreed out of court. This heading covers ex gratia payments made by government units or NPISHs (non-profit institutions serving households) in compensation for injuries or damage caused by natural disasters other than those classified as capital transfers (ESA 2010, ESA 1995). European Union, Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union, Official Journal of the European Union No L 174, 26.06.2013, p. 1 - 727
Eurostat, "European System of Accounts - ESA 1995", Office for Official Publications of the European Communities, Luxembourg, 1996
Eurostat, "European System of National and Regional Accounts - ESA 2010", Luxembourg, 2013