no action clause

no action clause
A clause in an insurance policy purporting to indemnify or insure against loss from injuring the property or person of a third person, which provides in substance that no action shall be had on the policy to recover loss or expense, except as an action shall be brought by the insured for a loss or expense actually sustained and paid in money by the insured after the amount thereof has been fixed by final judgment or by agreement. 7 Am J2d Auto § 169; 29A Am J1st Ins § 1343.

Ballentine's law dictionary. . 1998.

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