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 ?
Likewise, the indemnitee will agree to hold harmless and indemnify the indemnitor to the extent that the indemnitee's acts or omissions implicate the indemnitor.
This conclusion is not dependent on the presence of a hold harmless clause, but is bolstered by such language.
Appraiser shall indemnify and hold harmless the client, and its officers, agents and employees, for all losses, claims, liabilities and damages arising out of or as the result of any negligent act or omission by appraiser, or appraiser's employees, agents or subcontractors, in the performance of appraiser's professional services under this agreement.
Hold harmless agreements may be found in purchase agreements, rental agreements, equipment leases, and construction contracts.
What sick sense of humor calls such a veritable minefield of potential disaster a "hold harmless"?
There are 2 common forms of "hold harmless" agreements in managed care contracts.
The hold harmless approach addresses the exposure the advisor faces due to over regulation and the resulting compliance requirements.
In California, where these insurance and legal remedy requirements have been in place for about 10 years, the hold harmless language exists in the subcontractor agreement.
Johanns has also told lawmakers that if they are concerned whether or not there will be enough transparency, "I would create a monitoring committee and that committee could watch every step we make under the farm bill, every step we make under CAFTA and every step under the sugar program, to guarantee to the House and Senate that we are not going to do anything that would damage this sugar program." Johanns said he thinks this is "an important breakthrough" on his part in terms of "guaranteeing to hold harmless the U.S.
Fayette has suffered some hard fiscal knocks--including being labeled a "hold harmless" district, with stagnant state funding since 1992, because it's considered property-rich.
The contract also included a "broad 'hold harmless'" agreement, which stated that Dow "shall in no event be liable for, but shall be held harmless by [the United States] against, any damage to or destruction of property ...
Hold harmless agreements afford a certain amount of security, but extend only as far as the contractor's solvency and available assets.