Ads
related to: should indemnification be mutual protection rights examples listlawdepot.com has been visited by 100K+ users in the past month
- Hold Harmless Agreement
Ensure That One Party Will Not Hold
Another Party Liable for Risk.
- Indemnification Agreement
Establish Protection from Losses,
Liabilities, Claims, or Damages.
- Hold Harmless Agreement
pdffiller.com has been visited by 1M+ users in the past month
Search results
Results from the WOW.Com Content Network
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).
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]
Some common examples of subrogation include: Indemnity insurance. An indemnity insurer may be entitled to be subrogated to the rights of insured as against a third party who is responsible for the damage to the insured. Law of guarantees. A surety may be entitled to be subrogated to the rights of the creditor as against the principal debtor.
Reciprocals are sometimes confused with mutual insurance companies. While the products of stock companies, reciprocals, and mutuals may be practically indistinguishable to consumers, there are technical differences. A reciprocal is unincorporated; a mutual is incorporated and thus can claim to be "owned by our policyholders".
Contract law regulates the obligations established by agreement, whether express or implied, between private parties in the United States. The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law.
The "mutual holding company" structure was first introduced in Iowa in 1995, and has spread since then. [5] There have been concerns that the mutual holding company conversion is disadvantageous for the owners of the company, the policyholders. [6] The major disadvantage of mutual insurance companies is the difficulty of raising capital. [7]
It should only contain pages that are Types of insurance or lists of Types of insurance, as well as subcategories containing those things (themselves set categories). Topics about Types of insurance in general should be placed in relevant topic categories .
Ads
related to: should indemnification be mutual protection rights examples listlawdepot.com has been visited by 100K+ users in the past month
pdffiller.com has been visited by 1M+ users in the past month