According to Black's Law Dictionary, indemnity is "a duty to make good any loss, damage, or liability incurred by another." It's possible to limit the scope of that duty during contract negotiations.

Indemnity provisions have evolved to become an integral part of commercial contracts. An indemnity means a promise by one party (the indemnifier) to protect the other (the indemnified party) from loss ...

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Discover what a period of indemnity is in insurance, how it impacts business interruption claims, and examples of extended indemnity coverage in policies.

Insurance by tradition provides a safety net for the survival of businesses and individuals in society. The significance of this role cannot be overemphasized. The sector’s contribution to the GDP has ...

Risk transfer is an accepted financing technique usually associated with purchasing insurance to transfer the risk to an insurance company. For the past several years, though, we have seen an ...

The Pentagon legally covers dozens of military contractors doing dangerous jobs at home, such as making anthrax vaccine or disposing of mustard gas. But the immunity for harm granted KBR in Iraq ...