Release
Definition
To release is to give a discharge from responsibility or from an obligation. In insurance terms, this is to give up a legal claim or let go of something.
Examples
- First Party Release - between you, the insured and your insurance company.
- Third Party Release - between you, the insured and another person or company, the third party.
- Indemnifying Release - between you, the insured and a guardian for a person not legally competent or a minor.
Talk to your agent or broker if you have questions about signing a release. You can always seek legal counsel if you need that type of confirmation.
