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Hold Harmless Agreements and Insurance Since a hold harmless clause is a legal contract, your insurance company may not pay for losses that occur as a result of your agreement. General liability policies often exclude workers' compensation claims.

A hold harmless disclosure is used when one party agrees not to hold the other party liable for any damage or injuries it suffers as a result of engaging in particular activities. A hold harmless agreement is usually instituted between buyers and sellers. They could also be between a buyer, seller, and a closing agent.

A hold harmless agreement protects business owners from being sued when someone suffers damage, bodily injury, or financial loss on business property or while a service is being provided.

Enforceability of Hold Harmless Agreements The general answer is yes, that these documents signing away your right to sue for negligence are legally enforceable.

So, if an accident happens and injury occurs, is a Waiver effective in protecting the institution from liability and preventing a lawsuit from the injured party? The answer is that, if properly worded and signed, the Waiver is likely valid and will preclude legal claims for injuries.

The prevailing interpretation is that hold harmless and indemnify are synonymous. However, under the minority view, hold harmless requires payment of both actual losses and potential liabilities, while indemnify protects against incurred losses only.

By signing a broad form hold harmless agreement you are possibly exposing your company to uninsurable risk. Contractual Liability Coverage for sole or gross negligent acts of your client is excluded is y most liability policies.As with all contracts, it is best to have legal counsel review prior to signing.