indemnity

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in·dem·ni·ty

(in-dem'ni-tē)
The agreement between an insurance company or other financial entity to underwrite the expenses incurred by a policyholder for covered services.
References in periodicals archive ?
Founded in 2004, Pinsure is a specialist professional indemnity insurance broker.
Hamilton Underwriting Limited, the managing agency of Lloyd's Syndicate 3334 and the Lloyd's operations of Hamilton Insurance Group, has said that it has named Daniel Prince as head of Professional Indemnity.
During the project's kick-off meeting at the Bahrain Institute of Banking and Finance (BIBF), research director Saliha Ismail told the 15 volunteer team members that Professional Indemnity (PI) insurance is now part of the compliance law, and that engineering professionals are particularly exposed to the risk of claims, given that the profession is one of the biggest sectors in Bahrain.
How did the professional indemnity insurance market perform in the last five years?
The amount of professional indemnity insurance cover the designer is required to have in place is generally determined on a case by case basis, depending on the extent and the complexity of the design works in question.
Multiline property and casualty insurer ACE Group headed by ACE Limited (NYSE:ACE), announced on Tuesday that Marcel Van Peenen has joined the company as regional professional indemnity manager for Asia as of 12 January 2015.
The insurance market continues to change and the renewal of Professional Indemnity in 2014 was no different.
To protect their bottom line and their clients, solicitors need to take out a professional indemnity insurance policy that was designed with their business in mind.
The requirement to have a professional indemnity arrangement in place will not mean that all registrants need to take out individual professional indemnity insurance to meet the requirements.
In professional indemnity insurance, we look at the risk the person is exposed to and his income," says Narayanan.
Zurich announces the appointment of Brendan McDonald as Head of Professional Indemnity for the Middle East
One element of risk management that has gained increasing prominence over the past decade is insurance, particularly professional indemnity insurance (PII).

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