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I- I. Ia Ib Ic Id If Ig Il Im In Ip Ir Is It

Indemnification aliunde

Doctrine mean ing indemnity from another source. It must be distinguished from subrogation. If the insured receives any sum, before or after a loss, that reduces his actual loss, he must credit the insurer with that sum. For example, an employer holding salary otherwise due to a defaulting employee must deduct the relevant sum from any claim under a commercial guarantee.
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The liability of insurers under a contract of indemnity is to make good the insured’s loss. If the insured’s loss is made good aliunde (from another source) the insurer’s entitled to credit accordingly for any sum received.

Indemnification by corporation

Corporation agrees to hold the doctor and his or her agents and employees harmless from any and all liability, loss, damage, claim, or expense of any kind including costs and attorneys’ fees that result from negligent or willful acts or omissions by the corporation and its officers, agents, or employees in connection with the duties and obligations of the corporation under an agreement.

Indemnification by physician

Doctor agrees to hold corporation and payer and their officers, agents, and employees harmless from any and all liability, loss, damage, claim, or expense of any kind including costs and attorneys’ fees that result from negligent or willful acts or omissions by the doctor or his or her agents or employees in connection with the duties and obligations of the physician under an agreement.

Indemnify

The act of returning someone who has sustained a loss to the position they were in before the loss occurred.
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MEDICAL,USA: To compensate for a loss.
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UK: to provide indemnity.
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To repay or compensate in money or kind or a sustained law. Legal principle that specifies an insured should not collect more than the actual cash value of a loss but should be restored to approximately the same financial position as existed before the loss.

Indemnitor

An entity or person who enters into an agreement with a surety to hold the surety harmless from loss incurred as a result of issuing a contract bond to an applicant who falls just short of acceptability. If the principle defaults, the indemnitor, rather than the surety, assumes the obligation.
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An individual or company who agrees to assume the obligation normally placed on a surety if the person a bond was issued on defaults. This is usually done because the applicant does not qualify as an acceptable risk by the surety’s standards.

Indemnity

MEDICAL,USA: 1. Obligation to make good any loss, damage, or liability incurred by another. 2. Right of an injured individual to claim reimbursement for its loss, damage, or liability from a person who has such a duty. 3. Benefits paid to insured by an insurance policy for a loss; also known as reimbursement .
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UK: 1. Security against financial loss. An insurance principle designed to place an insured in the same financial position after a loss that existed immediately before the loss. An ‘exact financial compensation’ may be denied by an inadequate sum insured, indemnity limit, excess or franchise. The principle cannot be applied to life insurance and personal accident, termed ‘benefit policies’, as the payments are based on specific benefits not indemnity. The leading case on indemnity is Castellain v. Preston (1883). Subrogation and contribution are corollaries of indemnity. 2. Non-insurance risk transfer, via contracts, where one party agrees to make good the loss of another by the inclusion of indemnity agreements otherwise called hold harmless agreements. See PRINCIPAL’S CLAUSE; INDEMNITY AGREEMENT.
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A fundamental concept governing insurance compensation for loss or injury sustained, or in health insurance, a benefit for injury or sickness which is payable as provided in a health insurance policy. The principle of indemnity states that the insured should be returned to preloss conditions. The insured had a matching roof before the tree crashed onto it, the insured should have a matching roof after the tree is removed and the roof repaired.
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A general legal principle related to insurance that holds that the individual recovering under an insurance policy should be restored to the approximate financial position he or she was in prior to the loss-the insured cannot be allowed to make a profit out of a loss. The Insurers may provide indemnity in different methods: Cash Payment : After the loss is assessed, the quantum of loss suffered is paid by cash.Repairs : An automobile or machinery may be damaged in an accident. Insurers may authorize repairs and pay the amount to the repairer Direct.Replacement : Where due to an accident certain parts of a machinery are to be replaced, Insurers authorize to do so after deducting depreciation.Reinstatement : Insurers may also choose to reinstate the property lost in FireThe Insurers alone have the right to select the method of indemnification. The insured cannot insist on indemnification by any particular method.Indemnity Bond : A bond which indemnify the obligee against loss which arises as a result of failure on the part of a principal to perform. Warehouse, lost instruments, freight charge, lien, are examples of indemnity bond.
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Issuing a payment or replacement to a person who has suffered a loss.
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US: Legal principle that specifies an insured should not collect more than the actual cash value of a loss but should be restored to approximately the same financial position as existed before the loss.
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UK: security against financial loss, a policy of indemnity is designed to place the insured in the same financial position as he/she would have been in had the insured peril not occurred.
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The principle according to which a person who has suffered a loss is restored (so far as possible) to the same financial position that he was in immediately prior to the loss, subject in the case of insurance to any contractual limitation as to the amount payable (the loss may be greater than the policy limit). The application of this principle is called indemnification. Most contracts of insurance are contracts of indemnity. Life insurances and personal accident insurances are not contracts of indemnity as the payments due under those contracts for loss of life or bodily injury are not based on the principle of indemnity.

Indemnity benefits plan

Type of health insurance policy in which benefits in the form of cash payments are sent to the insured instead of service benefit payments to the service provider. The contract usually lists the maximum amounts paid for each covered service. Usually, after the service provider has billed the patient, the insured individual submits proof of payment to the insurance company and is reimbursed by the company for the covered costs and makes up the balance himself.