Insurance Indemnity definition

Insurance Indemnity means the amount of money payable by the Insurer under the Contract upon occurrence of the Insurable Event, the specific amount of which shall be calculated and paid in accordance with the procedure and time limits set by the General Insurance Terms and Conditions and Special Terms and Conditions and/or any other indemnity related to the Contract.
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Insurance Indemnity. Each party hereby agrees: a) To indemnify, hold harmless, and take up the defense of each party, its agents, its employees and its agents' employees, from and against all claims, damages, losses and expenses, including attorney fees, arising out of or resulting from the performance of the work and/or use of each party's real or personal property, provided that any such claim, damage, loss or expense is attributable to bodily injury, sickness, disease or death; or to injury to, or destruction of, tangible property, including, but not limited to, the loss of use resulting therefrom. Each party shall indemnify the other for any and all payments made by each party to its employee(s) as a result of a workers compensation claim of any such employee(s) arising from any negligent or intentional act or omission of either party. b) In case any direct or indirect damage is done to existing roads, underground structures, sewers, etc. or to any operating equipment or fixtures, by or because of the work, in consequence of any act or omission on the part of each party, its employees, subcontractors, or agents, each party at its own cost and expense, except when specified otherwise, shall restore such property, etc., to a condition equal to that existing before such damage was done. c) To be responsible for the security of all tools, equipment, and materials under its possession throughout the duration of the Agreement. Any tools, equipment, and materials that are lost or stolen shall be the responsibility of party in possession. d) Andersons and NWE each agree to maintain, during the Initial Term and any Renewal Term of this Contract, the following insurance coverages: i. Commercial General Liability Insurance, on an occurrence basis, including contractual liability insurance, with limits not less than: General Aggregate $1,000,000 Products/Completed Operations Aggregate $1,000,000 Occurrence Limits $1,000,000 Personal Injury Limit $1,000,000 ii. Automobile Liability with a combined single limit not less than $1,000,000 including: Owned, Non-owned and hired car coverage.
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Insurance Indemnity means the amount payable by the Insurer as damages and as compensation for necessary legal costs.
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Examples of Insurance Indemnity in a sentence

  • Without limiting in any manner the obligations and Liabilities of the Parties under the Tax Matters Agreement, including all withholding obligations otherwise set forth therein, SpinCo and each SpinCo Group member shall bear its responsibility for payroll tax obligations and for the proper reporting to the appropriate governmental authorities of compensation earned after the Business Transfer Time.

  • Should you have a suitable insurance policy already in place, we will require details of your cover and the completion of our Insurance Indemnity Form that will be issued upon receipt of your booking.

  • Such being the case, BTA shall not disburse the Insurance Indemnity and shall not pay back the paid Insurance Premium.Both the Policyholder and BTA are entitled to, upon sending prior notification thereupon, terminate the Insurance Contract after disbursement of Insurance Indemnity.

  • If malicious intent or gross negligence by the Insured was the reason not to participate in procedural investigative activities or legal proceedings, the Insured shall indemnify to BTA for loss caused due to this action or omission.BTA may reject disbursement of Insurance Indemnity and terminate the Insurance Contract unilaterally without refunding the Insurance Premium, if the Insured due to malicious intent or gross negligence failed to perform any of the above-mentioned actions.

  • Expenses in regard to transfer of Third Party’s claim rights shall not be considered indemnifiable losses.If third party liability of the Insured is insured by the several insurers, BTA shall disburse the Insurance Indemnity proportionally the Liability Limit defined by the Insurance Contracts per a single insured event or the Sublimit (if any).

  • Seller’s obligations, including but not limited to obligations under the Termination for Convenience, Termination for Default, Proprietary Rights, Release of Information, Warranty, Infringement, Compliance with Law, Responsibility and Insurance, Indemnity Against Claims, and Export/Import Controls provisions of this Purchase Order, shall survive termination, expiration, or completion of this Purchase Order.

  • This notice is not required to be given in one- and two-unit residential buildings, or in an owner-occupied three-family dwelling, or in hotels, motels, or other guest housing serving transient or seasonal guests (N.J.S.A. 46:8-50).Crime Insurance InformationCrime insurance is available through the New Jersey Insurance Underwriters Association, Crime Insurance Indemnity Plan.

  • Accident insurance1.1. If an Accident suffered during Travel results, within one calendar year thereafter, in permanent disability or death of the Customer, the Insurer shall pay the Insurance Indemnity for death or disability, not exceeding the Sum Insured specified for the particular Insured Risk specified in Annex 1 hereto.

  • For all purposes of the Put/Call Agreement (as defined in Section 12.04) and the Insurance Indemnity Agreement referred to in Section 12.05, including for purposes of amending the Put/Call Agreement as provided in Section 12.04 of this Agreement and terminating the Insurance Indemnity Agreement as provided in Section 12.05, Marathon is a party to the Put/Call Agreement and the Insurance Indemnity Agreement as the successor and assign of USX (as defined in the Put/Call Agreement).

  • Notwithstanding the above, the compensation is never higher than stated in paragraph 6 “Maximum Insurance Indemnity Amount” above.


More Definitions of Insurance Indemnity

Insurance Indemnity means the amount paid by an insurance company to a policyholder arising from an insured event.
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Insurance Indemnity means any amount of money under, arising out of, or relating to an insurance indemnity, insurance premium reimbursement, or any other pecuniary benefit from or on behalf of an insurance institution, or any right of an insurance institution to demand or arrange for any pecuniary benefit from a third party, and any right to subrogation in rights of an insurance institution, in connection with the Private Unit or the Project or any unit or part thereof, including, without limitation, under any insurance agreement, insurance policy, endorsement, or letter of insurance coverage.
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Insurance Indemnity means the amount of money payable by the Insurer to the Beneficiary under the Contract upon occurrence of the Insurable Event.
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Insurance Indemnity means financial compensation paid under the insurance contract in order to indemnify the loss caused as a consequence of an insured event and costs for legal assistance and expert assessment.
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Insurance Indemnity means the amount of money to be paid as compensation for the loss suffered as a result of an insured event.
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Insurance Indemnity. Each party hereto waives their respective right of subrogation against the other part. Landlord shall not be liable to Tenant or any other person for any loss, injury or damage to Tenant, and employee, agent, or guest or Tenant, to the personal property of Tenant or any other person arising from any cause what so ever including, without limitation any acts of negligence, improper construction to failure to repair any building or improvements on the premises. Tenant hereby agrees to indemnify Landlord and hold it harmless from any loss, expense claims arising out of such damage or injury, nor shall Landlord be liable to Tenant for any loss or damage that may occasioned by or through the act of omission of other Tenants of the premises, or of any other person whatsoever. Xxxxxx further agrees to indemnify and hold Landlord harmless from and against any damage caused by any act or omission by Tenant, employees, agents, or guests of Tenant, or caused by the use of the premises by Xxxxxx.
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Related to Insurance Indemnity

  • Reimbursement insurance policy means a policy of insurance

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Indemnity, Subrogation and Contribution Agreement means the Indemnity, Subrogation and Contribution Agreement among Xxxxx 0, the Borrower, the Subsidiary Loan Parties and the Collateral Agent, substantially in the form of Exhibit C-3.

  • Blanket insurance policy means a group policy covering a defined class of

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Tax Indemnity Agreement means that certain Tax Indemnity Agreement [NW ____ _], dated as of the date hereof, between the Owner Participant and Lessee, as originally executed or as modified, amended or supplemented pursuant to the applicable provisions thereof.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • protection and indemnity risks means the usual risks covered by a protection and indemnity association managed in London, including pollution risks and the proportion (if any) of any sums payable to any other person or persons in case of collision which are not recoverable under the hull and machinery policies by reason of the incorporation in them of clause 6 of the International Hull Clauses (1/11/02 or 1/11/03), clause 8 of the Institute Time Clauses (Hulls) (1/11/95) or clause 8 of the Institute Time Clauses (Hulls) (1/10/83) or the Institute Amended Running Down Clause (1/10/71) or any equivalent provision;

  • Funding Indemnity Letter means a funding indemnity letter, substantially in the form of Exhibit N.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Limit of Indemnity means the amount stated in the Schedule pursuant to Clause 5 of this Policy.

  • First party insurance means an insurance policy or contract in which the insurer

  • Insurance Assignment each collateral assignment of insurance pursuant to which an Obligor assigns to Agent, for the benefit of Secured Parties, such Obligor’s rights under key-man life, business interruption or other insurance policies as Agent deems appropriate, as security for the Obligations.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Excess Insurance shall not apply to any insurance coverage currently held by The Government of Bermuda, or to our Self-Insured Retentions of whatever nature.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Indemnity Payment shall have the meaning set forth in Section 4.4(a).