What is required for a "full release settlement" to be finalized?

A "full release settlement" is finalized when the claim check is cashed by the claimant. This step is crucial as cashing the claim check signifies the claimant's acceptance of the settlement offer and indicates that they agree to release the insurance company from any further obligations related to that claim. It effectively concludes the settlement process, allowing the insurance company to move forward without the risk of future claims arising from the same incident.

While it is also important for releases to include details such as the proper names of both parties and be properly signed, these elements do not complete the settlement process on their own. They are necessary for the legal enforceability of the release, but the act of cashing the claim check is what officially finalizes the agreement financially and legally. This highlights the significance of completing all necessary steps in the claims process, ensuring that both parties have fulfilled their obligations.