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An indemnity is distinct from a warranty in that: [8] An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
To "indemnify" means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly, life insurance is generally not considered to be indemnity insurance, but rather "contingent" insurance (i.e., a claim arises on the occurrence of a specified ...
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a ...
In English costs law the indemnity principle is the concept that a receiving party is unable to recover more than the costs for which they are liable to pay themselves, in costs of the litigation. It is unrelated the indemnity basis, being one of the bases on which the court may award costs (below).
This is a big thing, and it's a brand new thing, and I think it's so important. I'm going to indemnify, through the federal government, all police officers and law enforcement officials throughout ...
Google Dictionary is an online dictionary service of Google that can be accessed with the "define" operator and other similar phrases [note 1] in Google Search. [2] It is also available in Google Translate and as a Google Chrome extension. The dictionary content is licensed from Oxford University Press's Oxford Languages. [3]
WASHINGTON (Reuters) -Donald Trump's U.S. presidential campaign said on Saturday some of its internal communications were hacked and blamed the Iranian government, citing past hostilities between ...