A waiver of underinsurance is a contractual agreement with the insurer. → insurer. If these → clause is contained in the insurance terms and conditions, the → Insurers in the → In the event of a claim, the insurer does not check whether there was any underinsurance and pays the claim in full up to the agreed amount.

Source reference: See VDT publication "VDT article series part 5 l Glossary" and the source indicated there.