MLchartDataset catalogue

Ex gratia payment

Term · Insurance and risk management · MLC-T-INS-001360

A payment made by an insurer to a policyholder or third party without admitting legal liability or obligation under the terms of an insurance contract. This type of payment is often made to maintain goodwill, avoid litigation, or settle a claim where the legal position is ambiguous. Such payments are recorded separately from claims paid under policy terms.

Table 1. Record
IdentifierMLC-T-INS-001360
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001360",
  "term": "Ex gratia payment",
  "field": "Insurance and risk management",
  "definition": "A payment made by an insurer to a policyholder or third party without admitting legal liability or obligation under the terms of an insurance contract. This type of payment is often made to maintain goodwill, avoid litigation, or settle a claim where the legal position is ambiguous. Such payments are recorded separately from claims paid under policy terms.",
  "url": "https://mlchart.com/terminology/insurance/ex-gratia-payment/"
}

Record 1,205 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.