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Feb 25, 2024 · Indemnity is a form of insurance or legal agreement that compensates one party for losses or damages caused by another. Learn about different types of indemnity, how it works, and its historical applications.
Learn the meaning of indemnity as a noun and an adjective, with synonyms, examples, and word history. Find out how indemnity is used in law, insurance, and business contexts.
INDEMNITY definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.
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.
Indemnity is security or protection against a financial liability, typically in a contractual agreement. Learn about indemnity agreements for board directors, insurance indemnity, and the types and importance of indemnity in business.
Feb 26, 2024 · Indemnity insurance is a policy that compensates an insured party for damages or losses up to a certain limit. Learn how it works, who needs it, and what types of indemnity insurance exist, such as malpractice, professional, and hospital indemnity.
Feb 2, 2024 · In legal terms, indemnity requires a nondelivering entity to compensate the aggrieved party for losses it incurred or expects to as a result of the nonperformance. An indemnity clause can also act an as exemption from liability from damages, so the wording of the agreement is extremely important.
