Level of Indemnity definition

Level of Indemnity means the percentage of indemnity as specified in the Policy Schedule.
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Level of Indemnity means the percentage of indemnity as specified in Part I of the Schedule to this Policy.
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Level of Indemnity means the percentage of indemnity as specified in the Schedule to this Policy which is considered while arriving at the Sum Insured under the Policy.
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Examples of Level of Indemnity in a sentence

  • It is calculated as the moving average based on the past specified years average yield depending on the Crop multiplied by the Level of Indemnity.

  • Our Level of Indemnity is in excess of the SRA requirement of £3 million.

  • The value of the Threshold Yield of the Crop shall be calculated as under, Value of Threshold Yield = Threshold Yield x MSP (Minimum Support Price)Where, Threshold Yield = Insured Area x Average Yield x Level of Indemnity 5.

  • Presently Guaranteed Yield, based on which the indemnities are calculated is moving average yield of preceding three years for rice and wheat and five years for other crops, multiplied by the Level of Indemnity.

  • The crops for which, MSP is not declared, market price support established by the marketing department / board shall be adopted.In case of Non – Loanee FarmersSum Insured would be equal to the Value of Threshold yield of the insured CropValue of Threshold yield = Notional Threshold Yield x Level of Indemnity x Minimum Support Price (MSP) of the current yearHowever, on payment of additional premium, the Insured farmer can opt for with higher coverage.

  • Where value of the threshold yield is lower than the loan amount per unit area, the higher of the two is the Sum Insured, where value of Threshold Yield is as defined below.Value of Threshold yield = Notional Threshold Yield x Level of Indemnity x Minimum Support Price (MSP) of the current yearWherever Current year’s MSP is not available, MSP of previous year shall be adopted.


More Definitions of Level of Indemnity

Level of Indemnity means the percentage of indemnity as specified in the Schedule to this Policy which is considered for arriving the Threshold yield.
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Related to Level of Indemnity

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, the Debtors’ respective memoranda, articles or certificates of incorporation or formation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date, excluding any obligation to indemnify any of the foregoing parties with respect to any act or omission for or on behalf of the Debtors arising out of any act or omission determined by a Final Order to constitute actual fraud, willful misconduct, or gross negligence.

  • Defects Liability Certificate means the certificate issued by Architect upon correction of defects by the Contractor.