Release of Claims

A Release of Claims is a legal document signed by a policyholder, releasing an insurer from any further liability or obligation in connection with an insurance claim or lawsuit. The release typically specifies the scope of the claims being released, the consideration being paid, and any conditions or limitations on the release. The purpose of a release of claims is to provide the insurer with finality and protection against future claims arising out of the same incident or policy. Releases may be general in nature, covering all known and unknown claims, or may be limited to specific claims or time periods. Policyholders should carefully review and consider the terms of a release before signing it, as it may have significant legal consequences.