Louisiana P&C Adjuster Practice Exam 2025 – All-in-One Test Prep

The action of an insured relinquishing the right to a specific coverage by signing a document is accurately described as an express waiver. An express waiver is a clear and intentional relinquishment of a known right, in this case, the right to certain coverage under an insurance policy. By signing a document, the insured explicitly communicates their decision to forgo that coverage, which is done in a formal manner that shows clear intent.

In contrast, an implied waiver would suggest that a party's actions or inactions can lead to a relinquishment of rights without a formal statement or document. A formal agreement generally refers to a broader type of contract or understanding, while a conditional release typically involves releasing a party from their obligations only if certain conditions are met, rather than an outright waiver of rights. Thus, the specific nature of a signed document denoting the surrender of coverage is what firmly establishes it as an express waiver.