Glossary

A consent judgment is a judgment entered with the consent of the defendant.

A consent to settlement clause is a provision (also known as the "hammer clause" and "blackmail settlement clause") found in professional liability insurance policies that requires an insurer to seek an insured's approval prior to settling a claim for a specific amount.

Consequential bodily injury (BI) suits are a type of lawsuit insured by the employers liability coverage of a workers compensation policy.

Consequential damages are an indirect result of a direct loss.

A consequential loss arises as a result of direct damage to property—for example, loss of rent.

A conservator is a person or organization appointed by a court of law to manage an insurer that is financially impaired or in danger of insolvency.

Consideration is something of value that is bargained for and mutually exchanged to bind a contract; it is also payment for an annuity.

The person or company that is physically and administratively responsible for accepting the goods at final delivery is called the consignee.

The Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 is a federal law giving workers and their families who lose their health insurance benefits after leaving a job the right to continue receiving those benefits.

Consolidation is combining the financial results of a subsidiary company with its shareholder, resulting in the elimination of intercompany accounting entries.