Guest voluntary settlement

{
  "id": "MLC-T-INS-001699",
  "term": "Guest voluntary settlement",
  "field": "Insurance and risk management",
  "definition": "An endorsement to a general liability policy that provides for the payment of a predetermined amount for bodily injury to a guest on the insured's premises, regardless of legal liability. This coverage allows the insured to offer a swift settlement for minor injuries, avoiding potential litigation and preserving goodwill. Payments are made up to the limit specified in the endorsement, and accepting the payment does not require the guest to waive their right to sue.",
  "url": "https://mlchart.com/terminology/insurance/guest-voluntary-settlement/"
}