What does Guest Voluntary Settlement mean? Read on to discover the definition & meaning of the term Guest Voluntary Settlement - to help you better understand the language used in insurance policies.
Guest Voluntary Settlement
An aircraft liability insurance policy additional coverage that provides a specified payment to a passenger who has suffered certain types of injuries, such as the loss of an eye, hand, or foot as a result of an aircraft accident. Coverage applies on a no-fault basis, and the passenger must relinquish the right to sue the insured to receive payment.
We hope the you have a better understanding of the meaning of Guest Voluntary Settlement.