waiver

1. General: (1) Expressed or implied voluntary and intentional relinquishment or abandonment of a legal advantage, claim, requirement, or right. (2) Document (instrument) by which a such abandonment or relinquishment is effected.

2. Insurance: Agreement or supplementary clause attached to a policy which (1) excludes certain type of losses, (2) limits the amount of claim to a specified sum, or (3) extends the coverage to include items not included in a standard policy. See also rider.