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.
[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.
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.
In partially granting and denying the (12 (b)(6)-RRB- motion to dismiss the counterclaims, the Northern District examined the pleading elements for joint - author copyright infringement and tortious interference claims and considered the reach of contractual
indemnification provisions.
Plaintiff seeking
indemnification from former employer was an ex-part-time employee of defendant working as an assistant to a morning radio program.
In this regard, we have received, or expect to receive, requests for
indemnification by certain current and former officers, directors and employees in connection with our investigation of our historical stock option grant practices and related issues, and the related governmental inquiries and shareholder derivative litigation.
The Company expects to continue to incur legal fees in responding to these lawsuits, including expenses for the reimbursement of legal fees of present and former officers and directors under
indemnification obligations.
Representing international chemical manufacturer in connection with
indemnification claims concerning contamination from a chemical plant in Houston.
The definition of boiler and machinery insurance, or «equipment breakdown insurance,» is a policy that provides
indemnification in the event of loss with respect to and arising from the ownership, use and operation of boilers, machinery and other commercial equipment.
In cases of minor personal injury, policyholders will turn to their own policy for
indemnification under the policy's personal injury protection (PIP).
Insurance
provides indemnification against loss or liability from specified events and circumstances that may occur or be discovered during a specified period.
Insight A federal appellate court has issued an order dealing
with indemnification for prior settlements, and it could have a hugely beneficial impact on potential indemnitors, including sellers of mortgage loans as well as insurers, reports Bilzin Sumberg.
At the other end of the spectrum, is the promoter requesting
such indemnification and hold harmless protection from the lawyer participants?
She focuses her practice on advising entities and boards of directors on a wide variety of risk management issues,
including indemnification agreements, negotiating insurance with the most favorable terms available in the marketplace, financial insolvency concerns and insurance aspects of corporate transactions and other business contracts.
So your prize
indemnification policy's coverage limit is the cash value of the prize or prizes your contest offers.
(See for example Metzler Investment GmbH v. Gildan Activewear Inc., (2009), 81 CPC (6th) 384, 2009 CarswellOnt 4653 (Sup Ct) where the Ontario Superior Court refused to approve a
costs indemnification agreement by a third party funder.)
Have an attorney review all lender listing agreements so that you can remove any blanket
indemnification language, Ross says.
For those cases not involving fraud or misrepresentation, it has been HUD's long - standing practice of
requiring indemnification «within five years from the date of mortgage insurance endorsement.»
In other work, the team represented a health sector client in a dispute against a pharmaceutical company over sales agent
indemnification payment claims, and acted for a wholesaler in claiming damages from the parent company of an Asian supplier for the deliberate deception of the origin of goods.
Notaries do not provide
financial indemnification in the event of fraud or forgery and therefore are not acceptable in lieu of a signature guarantee to redeem or transfer shares.
Other companies became reluctant to adopt a nutrition calculator without a promise of
indemnification against patent suits.
Reduced Liability - AmeriSpec's franchise network of home inspectors carry extensive Errors and Omissions insurance and General Liability insurance, and they offer
agent indemnification coverage to help protect real estate professionals in the event a claim is brought against them solely for recommending AmeriSpec ®.
Successfully represented the Archdiocese of Philadelphia in a contribution and
indemnification action brought by the world's largest elevator company.
(There are a couple of different distinct formulas for determining this amount: One allows
indemnification on a 95 - 5 basis in this case for any amount paid.
In addition, if patent owners adopt a strategy of filing infringement actions against retailers (which generally do have a presence in the Eastern District of Texas), manufacturers may be forced to defend those actions due to their
contractual indemnification obligations.
Because of this, it is critical that an attorney review all lender listing agreements in order to remove any
blanket indemnification language.
«Add in that clients include various waivers and releases in contracts as a matter of course, plus related questions like
whether indemnification or insurance coverage exists, and we find ourselves surrounded by contracts, and, of course, releases.»
Thus within a book contract is a legal clause
called indemnification inserted to protect the publisher from your antics.
The maximum amount of potential
future indemnification is unknown and potentially unlimited; therefore, it can not be estimated.
Relative to Item 36 and related disbursements, there should be no set rule that a successful party will be
denied indemnification relative to these costs unless exceptional circumstances are shown to exist.
No Fault claims against the Motor Vehicle
Accident Indemnification Corporation (commonly referred to as MVAIC) have to be commenced within three years of accrual.
In order to allay the auditors» concerns, Shkreli caused MSMB Funds to
execute indemnification agreements and promissory notes for the benefit of Retrophin with respect to the cash portions of the Settlement Agreements described above.
JMAR argues that there can be no claim the company because the «agreement to indemnify Snider Electric created a circular chain of
indemnification because of Snider's obligations to indemnify JMAR for its negligence and that Plaintiff's claims were therefore barred under the doctrine of circuity.»
The company also reformed its proxy access right to include friendlier features, such as less restrictive
indemnification requirements for nominating shareholders.
Phrases with «indemnification»