MLchartDataset catalogue

Indemnity contract

Term · Insurance and risk management · MLC-T-INS-001799

An agreement where one party (the indemnitor) promises to compensate another party (the indemnitee) for any loss or damage that the indemnitee may suffer. Insurance policies are a common form of indemnity contract, where the insurer agrees to pay for covered losses. The goal is to restore the indemnitee to their pre-loss financial condition.

Table 1. Record
IdentifierMLC-T-INS-001799
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001799",
  "term": "Indemnity contract",
  "field": "Insurance and risk management",
  "definition": "An agreement where one party (the indemnitor) promises to compensate another party (the indemnitee) for any loss or damage that the indemnitee may suffer. Insurance policies are a common form of indemnity contract, where the insurer agrees to pay for covered losses. The goal is to restore the indemnitee to their pre-loss financial condition.",
  "url": "https://mlchart.com/terminology/insurance/indemnity-contract/"
}

Record 1,704 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.