Common use of INDEMNIFICATION Clause in Contracts

INDEMNIFICATION. The Insurer is obliged to settle the payment of indemnity within 30 (thirty) calendar days after a written agreement between the Insurer and the Insured on the amount of the indemnity. ARTICLE 24 REINSTATEMENT OF THE SUM INSURED‌ After the occurrence of loss of or damage to the vehicle and or interest insured, the Sum Insured will be reduced by the amount of such loss or damage. After the reinstatement of the damage, the Insured may request reinstatement of the Sum Insured by paying additional premium on prorate basis for the unexpired period of insurance. However, the Insurer has the rights to decline such request.

INDEMNIFICATION. The Insurer is obliged to settle the payment of indemnity within 30 (thirty) calendar days after a written agreement between the Insurer and the Insured on the amount of the indemnity. ARTICLE 24 REINSTATEMENT OF THE SUM INSURED‌ After the occurrence of loss of or damage to the vehicle and or and/or interest insured, the Sum Insured will be reduced by the amount of such loss or damage. After the reinstatement of the damage, the Insured may request reinstatement of the Sum Insured by paying additional premium on prorate basis for the unexpired period of insurance. However, the Insurer has the rights to decline such request.

INDEMNIFICATION. The Insurer is obliged to settle the payment of indemnity within 30 (thirty) calendar days after a written agreement between the Insurer and the Insured on the amount of the indemnity. ARTICLE 24 REINSTATEMENT OF THE SUM INSURED‌ After the occurrence of loss of or damage to the vehicle and or interest insured, the Sum Insured will be reduced by the amount of such loss or damage. After the reinstatement of the damage, the Insured may request reinstatement of the Sum Insured by paying additional premium on prorate basis for the unexpired period of insurance. However, the Insurer has the rights to decline such request.