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1 day ago · Overview of the Contract of Indemnity. According to section 124 of the Indian Contract Act, 1872 contract of indemnity is used by a party to save themselves from loss incurred due to non-performance by another party to a contract. This indemnity clause acts as a remedy or security against damages and injury. Illustration-.
2 days ago · Indemnity – the insurance company indemnifies or compensates the insured in the case of certain losses only up to the insured's interest.
2 days ago · 1. Only large companies need PII. Professional indemnity insurance is a good idea for any service-based business. Companies of all sizes can be sued for liability, resulting in significant financial loss. A small company, sole proprietorship, or startup can be overwhelmed by even a single professional liability claim.
2 days ago · Indemnity is a contract law term that basically means that it's a contractual obligation of one party to compensate for the loss incurred by another party. The two parties are often referred to as the indemnitor and the indemnitee and the contractual obligation covers any relevant acts of the indemnitor or any related party done against the indemnitee.
4 days ago · Fixed indemnity insurance is a unique type of supplemental health coverage that pays out predetermined amounts for specific medical events or services. Unlike comprehensive health insurance plans, fixed indemnity insurance is designed to work alongside your primary health coverage, not replace it entirely.
2 days ago · To secure a cost award at the CAT, a condominium corporation must demonstrate efforts to avoid litigation and have robust indemnity provisions and rules. The CAT is cautious in ordering costs, considering numerous factors from the Rules and Practice Direction. To improve chances of a successful cost award, governing documents must be clear and ...
4 days ago · Her $5,500 infirmary bill was higher than the cruise itself: How she got it covered. Travel insurance is a must for cruises, as medical bills can be high. Even a low level of travel insurance can ...
