0 Comments | by

Remember Ex gratia payment

Ex gratia payment Remembered!

Ex gratia payment Technical Terms

Ex gratia payment: A payment made by an insurer to a claimant as an act of grace, where no contractual entitlement to the claim exists. The insurer will make an ex gratia payment in order to maintain good will, public relations, or as a matter of social justice or some other non-contractual reason.



Add a Comment Ex gratia payment Remembered!