it's called a quitclaim. and sana nga may nagawa kayong ganito.

wala pa but i'll inform my wife.
gumusut, by the fact the tricycle driver has acquired a lawyer, it would seem he intends to escalate his actions. this could get messy.
by law, i know you're not liable, but if he does file a case, whether criminal or civil, you can just imagine the hassle of having to attend hearings in pangasinan. at this point, i would not recommend ignoring the lawyer and suggest you communicate with them to at least to get an idea of their intentions.
we recognized this fact, kaya nga gusto rin namin maayos w/o involving any 3rd party kaya lang yung 50k na hinihingi niya is inconceivable.
but it's a good thing you were insured. since ultimately, they will be the ones to pay, they have a legal interest in the matter and they should assist you
thanks for the compre and TPL... they are helping us to ease our mind for the moment.