What does Release mean? Read on to discover the definition & meaning of the term Release - to help you better understand the language used in insurance policies.
A release is a settlement between two parties that prevents one of the parties from further pursuing claims or court litigation or action against the other party. After covering damages, insurance companies often make a person sign a release form to protect themselves from future pay-outs.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Release. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: