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Questin is Greenie P2 from Dec 10 what does this statement mean the second paragraph talking about waiver
Compensation agreements had been arranged with the victims, and these claims were all covered by Greenie’s insurance policy.
“In each case, compensation paid by the insurance company was subject to a waiver of any judicial proceedings against Greenie and its insurers.”
If any compensation is eventually payable to third parties, this is expected to be covered by the insurance policies.Not sure on this one. It MAY (and I emphasise MAY) depend upon equality of bargaining power. Equally it could depend upon what is normal in that line of business and whether the victim was given an incentive (for example a discounted price) to accept the contract with the waiver
But, as I said at the start, I’m not sure. What does the printed solution say from the examiner? He should know – he wrote the question!
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