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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).
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 ...
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.
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 ...
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.
The book describes how insurance companies improve profits by “delaying payment of claims, denying valid claims in whole or in part, and defending their actions by forcing claimants to enter ...
Oil and Gas Industry 'Knock for knock' is a common contractual arrangement in the oil and gas industry. [ 2 ] The operator of an oil and gas property requires the assistance and expertise of many kinds of contractors, including drilling companies, well service companies, facility constructors, equipment suppliers, and caterers.
Health insurance industry leaders leaned on the US Department of Justice to prosecute accused UnitedHealthcare CEO assassin Luigi Mangione — arguing a federal case against the twisted folk hero ...