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 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 »

Differences Between Indemnity & Guarantee?

The terms indemnity and guarantee are widely used in contract law to describe the nature of a contractual agreement between parties. Indemnities and guarantee agreements are used in areas such insu... Read More »

What is the meaning of indemnity insurance?

Indemnity insurance is a form of insurance wherein fees are paid to an insurance company. Payment of these fees provides you with financial and legal protection. Some indemnity policies cover indiv... Read More »