Insurance indemnity definition

Insurance indemnity means the amount of money to be paid as compensation for the loss suffered as a result of an insured event.

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Insurance indemnity. Each party hereby agrees: a) To indemnify, hold harmless, and take up the defense of each party, its agents, its employees and its agents' employees, from and against all claims, damages, losses and expenses, including attorney fees, arising out of or resulting from the performance of the work and/or use of each party's real or personal property, provided that any such claim, damage, loss or expense is attributable to bodily injury, sickness, disease or death; or to injury to, or destruction of, tangible property, including, but not limited to, the loss of use resulting therefrom. Each party shall indemnify the other for any and all payments made by each party to its employee(s) as a result of a workers compensation claim of any such employee(s) arising from any negligent or intentional act or omission of either party. b) In case any direct or indirect damage is done to existing roads, underground structures, sewers, etc. or to any operating equipment or fixtures, by or because of the work, in consequence of any act or omission on the part of each party, its employees, subcontractors, or agents, each party at its own cost and expense, except when specified otherwise, shall restore such property, etc., to a condition equal to that existing before such damage was done. c) To be responsible for the security of all tools, equipment, and materials under its possession throughout the duration of the Agreement. Any tools, equipment, and materials that are lost or stolen shall be the responsibility of party in possession. d) Andersons and NWE each agree to maintain, during the Initial Term and any Renewal Term of this Contract, the following insurance coverages: i. Commercial General Liability Insurance, on an occurrence basis, including contractual liability insurance, with limits not less than: General Aggregate $1,000,000 Products/Completed Operations Aggregate $1,000,000 Occurrence Limits $1,000,000 Personal Injury Limit $1,000,000 ii. Automobile Liability with a combined single limit not less than $1,000,000 including: Owned, Non-owned and hired car coverage.

Insurance indemnity. Each party hereto waives their respective right of subrogation against the other part. Landlord shall not be liable to Tenant or any other person for any loss, injury or damage to Tenant, and employee, agent, or guest or Tenant, to the personal property of Tenant or any other person arising from any cause what so ever including, without limitation any acts of negligence, improper construction to failure to repair any building or improvements on the premises. Tenant hereby agrees to indemnify Landlord and hold it harmless from any loss, expense claims arising out of such damage or injury, nor shall Landlord be liable to Tenant for any loss or damage that may occasioned by or through the act of omission of other Tenants of the premises, or of any other person whatsoever. ▇▇▇▇▇▇ further agrees to indemnify and hold Landlord harmless from and against any damage caused by any act or omission by Tenant, employees, agents, or guests of Tenant, or caused by the use of the premises by ▇▇▇▇▇▇.

Examples of Insurance indemnity in a sentence

Insurance indemnity is a sum of money that is paid to compensate for financial damage resulting from an insured event.
If the time to rebuild the Development is greater than twelve (12) months, the Lessee shall be entitled to decide whether or not the Development is to be rebuilt and to use the Development Insurance indemnity for such full or partial rebuilding of the Development up to the limit of the indemnified amount.
In any case the Supplier has to answer to any loss or damage occur- red to the above mentioned Equipment, if required, by integrating an Insurance indemnity; d) promptly inform the Purchaser of any potential need for extraordinary maintenan- ce works which shall be agreed upon and authorised by the same with a written order.
Insurance, indemnity and hold harmless provisions shall be in accordance with Article 9 of the Fire and Emergency Medical Services Agreement as amended and restated in December 2016, as of the date of execution of that Agreement.
Insurance indemnity shall be equal to the amount of the Damages but no more than stated in Sub-Clause 3.1 of the Travel Insurance Terms and Conditions depending on Card type.
However, in case of death of the Insured Person during the Period of Insurance, indemnity for loss of life of the Insured Person is payable to the Beneficiary specified in the Application for insurance, if surviving the Insured Person.
Insurance indemnity: amount paid by the Insurer to the Insured/ Dependent in case one of the insured risks through the insurance contract occurs.
Where the Insurance indemnity is insufficient to cover the cost of reconstruction and reconstruction is required under the proceeding Section hereof, the building costs in excess of the insurance proceeds shall be paid by all the Owners directly affected by the damage as provided in the Bylaws; however, if there is no valid Bylaw provision, then, in proportion to the Percentage Interest assigned to the respective Unit so affected.
Insurance indemnity is insufficient to cover the cost of reconstruction, the rebuilding costs shall be paid as provided in the Bylaws unless decided otherwise by unanimous resolution adopted subsequent to the date on which the fire or other disaster occurred.
Insurance indemnity is monetary amount specified in the insurance contract and paid by the insurer to the Beneficiary if the insured event occurs.

More Definitions of Insurance indemnity

Insurance indemnity means the amount payable by the Insurer as damages and as compensation for necessary legal costs.

Insurance indemnity means the amount paid by an insurance company to a policyholder arising from an insured event.

Insurance indemnity means any amount of money under, arising out of, or relating to an insurance indemnity, insurance premium reimbursement, or any other pecuniary benefit from or on behalf of an insurance institution, or any right of an insurance institution to demand or arrange for any pecuniary benefit from a third party, and any right to subrogation in rights of an insurance institution, in connection with the Private Unit or the Project or any unit or part thereof, including, without limitation, under any insurance agreement, insurance policy, endorsement, or letter of insurance coverage.