SpletAn indemnity is routinely included within a contract of guarantee because an indemnity, as a primary obligation, is likely to be less vulnerable to challenges than a guarantee. For more … Splet05. nov. 2024 · To indemnify is to make a payment to another to reimburse a loss. Insurance companies indemnify policyholders for covered losses. Guaranteed indemnification of covered losses is a basic principle of insurance, and it is the main reason why people buy insurance for various risks. Advertisement.
Indemnify Definition & Meaning - Merriam-Webster
Spletindemnify verb [ T ] uk / ɪnˈdem.nɪ.faɪ / us / ɪnˈdem.nə.faɪ / finance & economics formal or specialized to pay or promise to pay someone an amount of money if they suffer damage … Splet21. jul. 2024 · The words defend, hold harmless, and indemnify must be included in an indemnification clause. Essentially, hold harmless and indemnify mean the exact same thing. ... For instance, if your contract includes a mutual indemnification clause, it means that both contracted parties have agreed to cover losses that result from a breach of … famous tate customer service
INDEMNIFIED English meaning - Cambridge Dictionary
SpletTo compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. Insurance companies … Splet12. apr. 2024 · Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer to an … Splet30. okt. 2024 · Indemnity insurance is an insurance policy designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment. Typical examples of ... cora worms villingen