This form provides boilerplate contract clauses that outline the duration of any indemnity under the contract agreement, particularly for tax or environmental claims.
New Hampshire Indemnity Provisions - Duration of the Indemnity
Category:
State:
Multi-State
Control #:
US-ND1009
Format:
Word;
PDF
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How to fill out Indemnity Provisions - Duration Of The Indemnity?
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FAQ
Thus the indemnity period is the period for which insurance cover is legally bound to accept the claims. It is the duration in which claims will be payable to you or your business. Thus claims which are made outside of this period are not entertained by the insurance companies.
The principle of indemnity governs that an insurance contract compensates you for any damage, loss or injury caused only to the extent of the loss incurred. Insurance contract ensures that the insurer does not make a profit in the event of an incurred loss.
The term indemnity insurance refers to an insurance policy that compensates an insured party for certain unexpected damages or losses up to a certain limit?usually the amount of the loss itself.
