It means the purpose who was not At Fault will be compensated for the damage the at-fault party caused.
No, professional indemnity doesn't cover just any type of insurance. It's insurance that covers your professional life. So, everybody gets car insurance but it wouldn't be included under professional indemnity unless your car was a work asset, like for a traveling salesman.
The types of car insurance cover that is available from The Travelers Indemnity Company include bodily injury, property damage, medical payments, and damage from fire and theft.
contact of insurance is an example of indemnity contracts
all types of insurance is not a contract of indemnity because life insurance cannot b measured in terms of money , that is why it is not a contract of indemnity
None. Your auto insurance policy is a contract of indemnity. Not a contract of profit.
The misspelling of Indemnity Insurance?
Indemnity to Principals clause means that the cover is extended to the principal in the event that he/she is sued. This is common for most insurance covers.
is fire insurance or medi claim (health ins) or motor insurance or life insurance which of them is a contract of indemnity
The professional indemnity insurance covers businesses and individuals who specialize in providing services. Professional indemnity insurance helps those who are accused of negligence or malpractice.
Most insurance contracts are indemnity contracts. Indemnity contracts apply to insurances where the loss suffered can be measured in terms of money.
It means you had an insurance claim of some sort for which the insurance company did not pay anything.
Protection and Indemnity