Indemnification means to compensate or protect someone from damage, loss, or legal liability. It is like a guarantee or insurance that ensures someone doesn't suffer any harm or financial loss due to a particular event or situation. Full definition
In 2010, BHRG entered into a reinsurance agreement with Continental Casualty Company, a subsidiary of CNA Financial Corporation («CNA»), and several of CNA's other insurance subsidiaries (collectively the «CNA Companies») under which BHRG assumed the asbestos and environmental pollution liabilities of the CNA Companies subject to a maximum limit of indemnification of $ 4 billion. (alephblog.com)
[99] I reject the Defendants» argument that by abandoning their defence to the Counterclaim, the Edwards Plaintiffs are thereby disentitled to argue against the Defendants» claim for indemnification for costs based on the terms of the VIA. (slaw.ca)
Additionally, NAR opposes the use of indemnification clauses by Appraisal Management Companies (AMCs) which places pressure on the appraiser, compromises their independence, and has a negative effect on the quality of appraisal reports. (rismedia.com)