Indemnification of the policyholder is a core principle of the property insurance industry. A similar principle holds that the policyholder shall be “made whole” but not put in a better position than ...

Indemnity clauses are included in contracts to provide a means by which the contracting parties can shift the responsibility of risk. “Indemnity clauses can expand, limit or even eliminate the ...

Generally, indemnity agreements in construction contracts are a promise by which one party (the indemnitor) agrees to defend, indemnify, or hold harmless the other party (the indemnitee) for acts or ...

If you’ve ever bought a property or entered into a business contract, chances are that you’ve come across the term 'indemnity'. A letter of indemnity is often used in property as an important ...

If you’ve heard of the term indemnity, you may be wondering, “what is indemnity insurance?” Indemnity is an agreement between two parties in which one party is responsible for compensating another for ...

Whether you know it or not, the Uniform Commercial Code imposes a warranty of non-infringement on every product you as a product manufacturer sells. Essentially, the law requires to you to guarantee ...

Indemnification is used for risk allocation Indemnification may include defense obligation Indemnified party is entitled to reimbursement for covered losses Indemnification can be complex and heavily ...

Because courts generally presume indemnification applies only to third-party claims, any broader intent must be stated in clear and specific language. Seasoned construction professionals recognize the ...

Indemnification is more than a six syllable word that puts you to sleep before you’ve finished saying it. Often overlooked, indemnification creates important, business-ending responsibilities that ...

Fixed indemnity plans pay you a set amount if certain medical situations happen, like getting a critical illness or breaking a bone. You might have a plan that gives you $100 per day if you're in the ...