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For example, in California indemnification clauses do not cover certain risks unless the risks are listed in the contract, but in New York, the brief clause, "X shall defend and indemnify Y for all claims arising from the Product" makes X responsible for all claims against Y. [13] Indemnity can be extremely costly since X's liability insurance ...
Surety bonds are instruments that create a legal obligation for one party to pay another. An indemnity bond is a specific type of surety bond that's often used in situations where someone is ...
This was a $45 million Section 4(2) private cat bond that triggers on an Indemnity Per Occurrence basis. [24] The first public rule 144A cat bond was the Long Walk Re transaction in November of 2023, providing AXIS Capital with $75 million of Indemnity Per Occurrence coverage. These notes cover so-called "systemic cyber events".
Double Indemnity is a 1944 American film noir directed by Billy Wilder and produced by Buddy DeSylva and Joseph Sistrom. Wilder and Raymond Chandler adapted the screenplay from James M. Cain 's novel of the same name , which ran as an eight-part serial in Liberty magazine in 1936.
The economic value of bond insurance to the governmental unit, agency, or other issuer of the insured bonds or other securities is the result of the savings on interest costs, which reflects the difference between yield payable on an insured bond and yield payable on the same bond if it was uninsured—which is generally higher.
The bond assures the bank that it will not be on the hook for two checks. It can take 30 to 90 days to get your replacement check. Cashier’s checks vs. money orders vs. certified checks
The bond typically includes an indemnity agreement whereby the principal contractor or others agree to indemnify the surety if there is a loss. [19] In the United States, the Small Business Administration may guaranty surety bonds; in 2013 the eligible contract tripled to $6.5 million.
Third-party fidelity bonds protect businesses against intentionally wrongful acts committed by people working for them on a contract basis (e.g., consultants or independent contractors). In business partnerships, it is the responsibility of the business working as a contractor or subcontractor to carry third-party fidelity bond coverage, though ...
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