According to Black's Law Dictionary, indemnity is "a duty to make good any loss, damage, or liability incurred by another." It's possible to limit the scope of that duty during contract negotiations.

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 ...

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 ...

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 ...

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 ...

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 ...

Developers rushing to get projects off the ground can face significant risks without developing clearly defined indemnity clauses at the outset. Indemnity clauses, included in virtually all ...

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 ...

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 ...