General indemnity clause

{
  "id": "MLC-T-INS-001637",
  "term": "General indemnity clause",
  "field": "Insurance and risk management",
  "definition": "A contractual provision where one party agrees to compensate another party for losses or damages incurred due to specific events or actions. This clause transfers risk from the indemnified party to the indemnifying party, protecting them from financial liability. It typically outlines the scope of the indemnification, including the types of losses covered and any limitations.",
  "url": "https://mlchart.com/terminology/insurance/general-indemnity-clause/"
}