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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 ...
House of Commons (Indemnification of certain Members) Act 1949 [4] Reverend J. G. MacManaway's Indemnity Act 1951 [4] Price Control & Other Orders (Indemnity) Act 1951 [4] Niall Macpherson Indemnity Act 1954 [4] Validation of Elections Act 1955 [4] Validation of Elections (No. 2) Act 1955 [4] Validation of Elections (No. 3) Act 1955 [4]
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 ...
Impleader is frequently used for indemnification, such as an insurance policy or their employer. If for example a defendant is in a car accident, and their insurance policy includes an indemnification clause, they can implead their insurance company to pay out the lawsuit.
The Space Launch Liability Indemnification Extension Act is a bill that would extend until December 31, 2014 the current limitation on liability of commercial space launch companies. [1] Under the current system, the space launch company is liable for any damages up to $500 million, after which the U.S. Government will pay the damages in the ...
An "indemnification" policy From an insured's standpoint, the result is usually the same: the insurer pays the loss and claims expenses. If the Insured has a "reimbursement" policy, the insured can be required to pay for a loss and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs including, with the permission ...
Prize indemnity insurance is indemnification insurance for a promotion in which the participants are offered the chance to win prizes.Instead of keeping cash reserves to cover large prizes, the promoter pays a premium to an insurance company, which then reimburses the insured should a prize be given away.
Title insurance is a form of indemnity insurance, predominantly found in the United States and Canada, that insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans.
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