What is Principle of indemnity?

Answer AnswerThe principle of indemnity is an insurance principle stating that an insured may not be compensated by the insurance company in an amount exceeding the insured's economic loss. "Financial com... Read More »

Top Q&A For: What is Principle of indemnity

What is workers'comp indemnity?

In workers' compensation, indemnity is the payment for lost wages and for temporary or permanent impairment. The specifics of each state's workers' comp program differ, but all state programs pay ... Read More »

What is indemnity insurance?

There are two types of indemnity insurance available in the United States: indemnity health and professional indemnity insurance. Both policies indemnify the policy owner by paying for covered inci... Read More »

What is a hold harmless indemnity?

Hold harmless indemnity is one of the most important concepts used in business law today. In its simplest form, hold harmless indemnity removes liability from one party by transferring that liabil... Read More »

What Is Property Indemnity Insurance?

In the event of serious losses due to theft, natural disaster or other problems, businesses are often presented with threats to their continued viability. As a result, virtually all businesses will... Read More »