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Indemnity is compensation paid by one party to another to cover damages, injury or losses. ... An example of an indemnity would be an insurance contract, where the insurer agrees to compensate for any damages that the entity protected by the insurer experiences.

[Company/Business/Individual Name] shall fully indemnify, hold harmless and defend _______ and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not ...

The most important part of an indemnification clause is that it protects the indemnified party from lawsuits filed by third parties. This protection is important because damaged parties are still able to pursue compensation for their losses even if this clause isn't in the contract.

An indemnity clause is a contractual transfer of risk between two contractual parties generally to prevent loss or compensate for a loss which may occur as a result of a specified event.

To indemnify another party is to compensate that party for losses that that party has incurred or will incur as related to a specified incident.

Indemnity is a comprehensive form of insurance compensation for damages or loss. ... Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.

To indemnify is to insure someone against potential damages or loss or to compensate someone for damages or money spent. Insurance coverage indemnifies a person by insuring them for certain potential situations, such as damages to their property from natural disasters or accidents.

When the term indemnity is used in the legal sense, it may also refer to an exemption from liability for damages. Indemnity is a contractual agreement between two parties. In this arrangement, one party agrees to pay for potential losses or damages caused by another party.

DEDUCTIBLE INDEMNITY AGREEMENTS. The most cost-effective option may be a deductible indemnity agreement. Rather than buying a separate policy, the insured's property carriers endorse their existing policy to treat a loss as if the lender-required lower deductible were in effect.

Drafting of the indemnity clause An indemnifier must limit the amount of indemnities that is given while entering into a contract. An express obligation must be imposed so as to minimize the loss, and the duration of time in which the claim can be brought must be limited.