According to Black's Law Dictionary, indemnity is "a duty to make good any loss, damage, or liability incurred by another." It's possible to limit the scope of that duty during contract negotiations.

Pooja Dave began her writing career in fiction before turning to financial journalism with an interest in personal finance and insurance topics. Drazen Zigic / Getty Images Carefully read and ...

If you’ve heard of the term indemnity, you may be wondering, “what is indemnity insurance?” Indemnity is an agreement between two parties in which one party is responsible for compensating another for ...

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It won’t be business as usual for large companies and the smaller trucking companies that work with them in the new year. Effective Jan. 1, companies will no longer be allowed to include “indemnity” ...

Contracting parties (and their respective lawyers) spend a substantial amount of their time during negotiations of any contract on the reliefs available to their client in the event of breach of terms ...

Transocean Ltd., the company that owned the drilling rig that exploded in the Gulf of Mexico last year, argued in court documents filed today that its contract with BP shields it from having to pay ...