What exactly does indemnity mean? Definition and examples Home insurance indemnity. When people take out a home insurance policy, they pay premiums to the insurance company. Double indemnity is a provision of insurance in which the insurance company agrees to pay the insured.
Professional indemnity.
Many high-risk activities, like skydiving or heli-skiing, require individuals to sign an indemnity agreement before they can participate. Broad form indemnity agreements (this is also commonly refererred to as the “no-fault” agreements), is always common among construction contracts wherein any instances of damages or injuries will be placed on to the sub-contractors. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless agains.
These letter are drafted traditionally by another party that let’s we call a third party organization. Business people enter into indemnity agreement samples with other parties to protect themselves against employee lawsuits or claims for damages to goods or vehicles. Tenant shall protect, indemnify, and hold harmless Pierce County, its elected and appointed officials, agents, representatives, and employees while acting within the scope of their duties as such, to the maximum extent allowed by law from and against all claims, demands, and causes of action of any kind or character, including the cost of defense, arising in.