Indemnity Insurance
Categories: Insurance
See: Indemnity.
Generally speaking, these policies protect professionals against losses they cause to other people. If a business or individual is found liable for negligence or some other damage, the indemnity insurance will pay out the settlement.
The most famous form of indemnity insurance represents malpractice coverage. Your lawyer suddenly starts swearing at the judge in the middle of your civil trial and you lose the case because of it. Or your doctor sews accidently attaches his iPhone to your spleen. These are the kinds of situations that would trigger indemnity insurance.