What Does a Release of Liability to an Insurer Mean?
Full Question:
I need an interpretation of an insurance release of liability form to make sure I understand it. I need assistance in interpreting the language of an insurance property damage release form in order to completely understand. The form seems to be fairly standard, but I want to make sure that damages not discovered with the original adjuster's rep.
06/15/2010 |
Category: Insurance |
State: North Carolina |
#22400
Answer:
It is difficult to give a precise answer without seeing the language of the policy. Typically, an insurance company will have the claimant sign a release upon accepting a settlement of a claim payment in order to prevent any further recovery. For example, when personal injury is involved, once a person signs an insurance release, they are prevented from seeking further damages later if the injury turns out to be more severe than originally thought. If there is a specific paragraph you would like us to look at, please feel free to forward it. You might also ask for clarification from the insurer, and reiterate their answer in a follow up letter to have documentation of the conversation.
