Indemnity Insurance
Definition
- A class of insurance that covers individuals in the event that they are found liable for damages. Some examples of indemnity insurances include malpractice insurance, and errors and omissions insurance.
Synonyms
liability insurance, indemnity coverage, indemnity policy
Related Terms and Acronyms
- Errors and Omissions Insurance — Definition,
- Insurance that protects architects, home inspectors and contractors from claims by clients for professional mistakes.
- Indemnity — Definition,
- An arrangement where one party assumes liability for another party.
- Insurance (insur) — Abbreviation,
- An arrangement where one party provides financial protection to another party for specific damages or losses.
- Malpractice — Definition,
- Negligent acts done by a professional that causes injury to a plaintiff.
- Malpractice Insurance — Definition,
- Insurance that covers professionals from liability due to their own negligence or intentional harm.
- Professional Liability Insurance (PLI) — Acronym, Very Important,
- Insurance that covers professionals for liabilities occurring due to negligence or harm in a product or service they provide.
