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The meaning of INDEMNITY is security against hurt, loss, or damage. How to use indemnity in a sentence.
Feb 25, 2024 · Indemnity is a comprehensive form of insurance compensation for damage or loss. In an indemnity arrangement, one party agrees to pay for potential losses or damage caused by...
In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless".
Feb 26, 2024 · Indemnity insurance is a type of insurance policy where the insurance company guarantees compensation for losses or damages sustained by a policyholder. Indemnity insurance is designed to...
INDEMNITY definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.
Indemnity is protection or security against damage or loss, or compensation for damages or money spent. Insurance coverage provides indemnity to a person (or organization) by insuring them for certain potential situations, such as damages to their property from natural disasters or accidents.
Indemnity is a type of insurance that covers a wide range of damages and losses. In the indemnity clause, one party commits to compensate another party for any prospective loss or damage.
INDEMNITY meaning: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.
May 13, 2019 · In an indemnity agreement, one party will agree to offer financial compensation for any potential losses or damages caused by another party, and to take on legal liability for whatever damages were incurred. The most common example of indemnity in the financial sense is an insurance contract.
Protection provided against any potential harm, loss, or damage. An exemption that prevents a person from suffering legal consequences or liabilities. A specific form of compensation that offers protection or reimbursement.
