Definition of an indemnity

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August undefined, 2024

WebOct 30, 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 … WebApr 25, 2024 · Fixed indemnity health insurance is a type of policy that pays the insured person a set amount of money based on the medical service that the person receives, regardless of the actual cost of the care. The plan can pay a fixed amount based on a particular type of service provided, or pay a fixed amount based on a time period during …

Indemnity Definition & Meaning Britannica Dictionary

WebMar 21, 2024 · Indemnity also holds meaning in corporate law. Here, an indemnity refers to an agreement that holds board directors free from any personal liability claims if the … Webindemnity: [noun] security against hurt, loss, or damage. exemption from incurred penalties or liabilities. mechatronics manchester

INDEMNITY English meaning - Cambridge Dictionary

Webindemnity. 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. More common is in insurance contracts, in exchange for premiums paid by the insured to the insurer, the insurer offers to compensate the insured ... WebThe meaning of INDEMNIFY is to secure against hurt, loss, or damage. How to use indemnify in a sentence. Synonym Discussion of Indemnify. Webindemnity. an undertaking by one person to make good losses suffered by another. Frequently confused with guarantee, an indemnity is a primary obligation that is … mechatronics maintenance salary

What is the definition of indemnity? - Brainly.com

WebJan 10, 2024 · Indemnity literally means making good the loss or compensating a person for any loss. “A contract of indemnity is a contract by which one party promises to save the other from the loss caused to him by the conduct of the promisor himself or by the conduct of any other person.” (Section 124). The person who promises to make good the loss is ... WebApr 11, 2024 · ERIE, Pa., April 11, 2024 /PRNewswire/ -- As the 2024 road trip season approaches, people are getting ready to hit the road and take a vacation. If you are one of the millions of travelers packing up to head out, be careful. According to the National Highway Traffic Safety Administration (NHTSA), distracted driving accidents claim over … pembroke family practice fax number mechatronics maintenance boing

"WebINDEMNITY meaning: 1 : a promise to pay for the cost of possible damage, loss, or injury often used before another noun; 2 : a payment made to someone because of damage, … " - Definition of an indemnity

Definition of an indemnity

indemnity Etymology, origin and meaning of indemnity by ...

WebApr 13, 2024 · The meaning of DOUBLE INDEMNITY is a provision in a life-insurance or accident policy whereby the company agrees to pay twice the face of the contract in case of accidental death. ... Share the Definition of double indemnity on Twitter Twitter. Legal Definition. double indemnity. WebTypical Indemnity Clause. This is an example of what a typical indemnification clause can look like: “Party A will perform work at own risk, and indemnifies Party B against all loss, …

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WebIndemnity definition, protection or security against damage or loss. See more. Webindemnity definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.

Webindemnity meaning: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more. WebDec 10, 2024 · Indemnity insurance is one way to be protected against claims or lawsuits. This insurance protects the holder from paying the full amount of a settlement, even if it is his fault. Many businesses require …

WebOct 28, 2024 · Indemnification means one party agrees to pay losses incurred by another to a third party. For example, if you were a business owner selling Widget XYZ as an original design to a retailer, and your … WebDefinition of indemnity noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. …

WebAn indemnity agreement is a contract that protects one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are …

WebIndemnity means making compensation payments to one party by the other for the loss occurred. Description: Indemnity is based on a mutual contract between two parties (one insured and the other insurer) where one promises the other to compensate for the loss against payment of premiums. Also See: Return, Annuity, Insurable Interest, Insurability mechatronics maintenanceWebThe meaning of INDEMNIFICATION is the action of indemnifying. that insurance company is known to be slow when processing claims for indemnification pembroke ferry terminalWebMay 5, 2024 · By Taylor Brown – May 5, 2024. For many reasons, one of the most contentious terms in any contract negotiation tends to be an indemnity clause. First, it’s an explicit definition of liability once fault is determined, and may even impose obligations before any formal determination of fault. Second, the liability impositions may have a ... mechatronics maintenance apprenticeWebIn 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 … mechatronics maintenance systemsWebSynonyms for INDEMNITY: compensation, reparation, damages, indemnification, restitution, redress, recompense, recoupment, reimbursement, remuneration pembroke financial services shorehamWebIn law, Contract of indemnity can be defined as a legal contract between two persons whereby one party commits to indemnify, i.e. to compensate or reimburse, the loss incurred to the other party, by the conduct of the … pembroke ferry timesWebIndemnity insurance refers to the insurance coverage that safeguards an insured against the monetary losses arising out of professional negligence. Like any other insurance, this also provides coverage in exchange for regular premium payments from the insured. For instance, a client could sue a wealth management firm, alleging a financial loss ... mechatronics maintenance technician jobs