Compensation from the insurer that is not required by the contract. The insurer may occasionally pay a claim, although he or she is not liable as an act of goodwill.
Related information about ex gratia payment:
- Ex gratia - Wikipedia, the free encyclopedia
When something has been done ex gratia, it has been done voluntarily, out of kindness or grace. In law, an ex gratia payment is a payment made without the ...
- What is ex gratia payment? - BusinessDictionary.com
Definition of ex gratia payment: A sum of money paid when there was no obligation or liability to pay it. For example, a lump sum payment over and above the ...
- Insurance: What is an ex-gratia payment? - by Caveat - Helium
Jul 19, 2007 ... Ex-Gratia payments are payments made without an obligation to pay. The words mean out of favor or out of gratitude Insurance Companies ...
- ex gratia - definition of ex gratia by the Free Online Dictionary ...
given as a favour or gratuitously where no legal obligation exists an ex gratia payment. [New Latin, literally: out of kindness]. ThesaurusLegend: Synonyms ...
- Ex Gratia Payment - The Free Dictionary
given as a favour or gratuitously where no legal obligation exists an ex gratia payment. [New Latin, literally: out of kindness]. ThesaurusLegend: Synonyms ...
- Ex Gratia Payment: Definition from Answers.com
Ex Gratia Payment from favor payment by an insurance company to an insured even though the company has no legal liability.
- What is ex gratia payment? - InvestorWords.com
Definition of ex gratia payment: Compensation from the insurer that is not required by the contract. The insurer may occasionally pay a claim, although he or she ...
- ex gratia payment - Insurance Glossary
ex gratia payment. Latin: "by favor." A voluntary payment made by the insurer in response to a loss for which it is not technically liable under the terms of its policy ...