Good faith settlement

{
  "id": "MLC-T-INS-001648",
  "term": "Good faith settlement",
  "field": "Insurance and risk management",
  "definition": "An agreement reached between parties in a legal dispute where all parties act honestly and without intent to defraud or mislead. This type of settlement is often sought to resolve claims fairly, particularly in multi-party litigation, and can protect settling defendants from further claims for contribution or indemnity from non-settling parties. Courts review such settlements to confirm their fairness and reasonableness.",
  "url": "https://mlchart.com/terminology/insurance/good-faith-settlement/"
}