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BTCC / Hashtag / indemnity definition
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What is an example of an indemnity clause?

A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damage or losses in return for premiums paid by the insured to the insurer. An indemnity clause is standard in the majority of insurance agreements.

What is an indemnity claim?

These include insurance indemnity contracts, construction contracts, agency contracts, etc. This is an obligation to indemnify that arises, not from a written agreement, but more from circumstances or the conduct of parties involved. One practical example is an agent-principal business relationship.

What is an example of an indemnity arrangement?

In an indemnity arrangement, one party agrees to pay for potential losses or damage caused by another party. A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damage or losses in return for premiums paid by the insured to the insurer.

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