MLchartDataset catalogue

Indemnification

Term · Insurance and risk management · MLC-T-INS-001794

A contractual agreement where one party (the indemnitor) agrees to compensate another party (the indemnitee) for losses or damages incurred. In insurance, this principle means the insurer restores the insured to their pre-loss financial condition, up to the policy limits. Indemnification clauses are common in contracts to allocate risk and liability between parties.

Table 1. Record
IdentifierMLC-T-INS-001794
FieldInsurance and risk management
SubjectUmbrella and Excess
Record as JSON 
{
  "id": "MLC-T-INS-001794",
  "term": "Indemnification",
  "field": "Insurance and risk management",
  "definition": "A contractual agreement where one party (the indemnitor) agrees to compensate another party (the indemnitee) for losses or damages incurred. In insurance, this principle means the insurer restores the insured to their pre-loss financial condition, up to the policy limits. Indemnification clauses are common in contracts to allocate risk and liability between parties.",
  "subject": "Umbrella and Excess",
  "url": "https://mlchart.com/terminology/insurance/indemnification/"
}

Record 1,728 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.