Definitions from the Web
Consent to Settle
Definition:
Consent to settle refers to an agreement made between an insurance policyholder and their insurance company, granting the insurer the authority to settle a claim without requiring the policyholder's consent.
Parts of Speech:
Senses:
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Insurance:
In the insurance industry, consent to settle is a contractual provision within an insurance policy that empowers the insurer to settle claims on behalf of the policyholder without obtaining explicit consent each time.
Example Sentence:
The insurance policy contains a consent-to-settle clause, which allows the insurance company to settle claims promptly without requiring the policyholder's consent.
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