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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).
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 ...
An indemnity case arises when an individual is obliged to pay for the loss or damage incurred by another person in an event of an accident, collision etc. The duty of indemnity generally originates from the agreement in between insurer and insured which protects the insured against any liability, damage or loss.
A difference in conditions policy is an insurance policy that can help provide additional and expanded coverage for your home or business if you live in a region that sees regular disasters.
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 ...
AD&D insurance functions similarly to life or health insurance in that it pays out a defined benefit when a covered event occurs, such as accidental death or severe injury. The coverage is fairly ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 8 January 2025. Equitable transfer of the risk of a loss, from one entity to another in exchange for payment "Insure" redirects here. Not to be confused with Ensure. For other uses, see Insurance (disambiguation). An advertisement for a fire insurance company Norwich Union, showing the amount of assets ...
The difference between homeowners insurance and hazard insurance. Mary Van Keuren. March 7, 2024 at 11:20 AM. Searching for the right homeowners insurance policy can be confusing. There is ...