Claim Settlement Agreement

A Claim Settlement Agreement is a legal contract between an insurance company and a policyholder or claimant that resolves a claim and releases the insurer from further liability in exchange for a specified payment or other consideration. The agreement typically outlines the terms of the settlement, including the amount to be paid, the scope of the release, and any conditions or limitations on the use of the funds. Claim settlement agreements are an important tool for resolving disputes and providing finality to the claims process, and are enforceable in court if either party breaches the terms.