unconditional settlement clause
The unconditional settlement clause is a provision that requires the insured to approve all settlements proposed by an insurer.
unconditional settlement clause
The unconditional settlement clause is a provision that requires the insured to approve all settlements proposed by an insurer.
Additional Information
Under such provisions, an insured can reject an insurer's proposal and, unlike the standard "blackmail settlement clause," incurs no liability if the claim is ultimately settled or adjudicated for a larger amount.
