What is ‘Casualty Insurance’
Casualty insurance is a broad category of coverage against loss of property, damage or other liabilities. Casualty insurance includes vehicle insurance, liability insurance, theft insurance and elevator insurance.
Personal Lines Insurance
Commercial Lines Insurance
Water Damage Legal Liability Insurance
BREAKING DOWN ‘Casualty Insurance’
An important type of casualty insurance for businesses is workers’ compensation insurance, which protects a company from liabilities that arise when a worker is injured on the job. Another important type of casualty insurance is liability insurance. Liability losses are losses that occur as a result of the insured’s interactions with others or their property. For homeowners or car owners, it’s important to have casualty insurance as damage can end up being a large expense.
Probably the best example of this would be an auto accident. Consider this hypothetical example: Let’s say Maggie backs out of her driveway and hits Lisa’s parked car, resulting in $600 of damage. Because Maggie was at fault, she is legally liable for those damages, and she must pay to have Lisa’s car repaired. Liability insurance would protect Maggie from having to cover the damages out-of-pocket.
Just as you can purchase property insurance to protect yourself from financial loss, liability insurance protects you from financial loss if you become legally liable for injury to another or damage to property. To be legally liable, one must have demonstrated negligence—the failure to use proper care in personal actions. If negligence results in harm to another, the offending party is liable for resulting damages. People in the insurance industry often call liability losses third-party losses. The insured is the first party. The insurance company is the second party. The person to whom the insured is liable for damages is the third party.
There are many other types of insurance that have traditionally been considered casualty insurance, such as:
- Workers’ compensation
- Surety bonds
Casualty Insurance and Business
If you own a business, you should consider a few different types of casualty insurance, depending on what you do. There are policies available for cyber-fraud insurance, employee-theft and identity theft (to name a few). If you primarily do business online, check if your policies cover your website. If you depend on computers to run your business, you might want to insure the computers in a separate policy.
Most business owners need to have casualty insurance coverage because, if you produce something, the possibility exists that it may end up harming someone. Even if you are a sole proprietor, it’s a good idea to carry insurance that is specific to your line of work. For example, if you’re a freelance auto mechanic who works from your own personal shop, you likely won’t need workers’ compensation coverage, but you should have insurance that covers a situation in which a repair you made causes injury to a customer.
What Is Property and Casualty Insurance?
Property and casualty insurance is actually an umbrella term which includes many forms of insurance. Homeowners insurance is one type of property and casualty product, as is renters insurance, auto insurance, and powersports insurance. The term property and casualty insurance typically contains two primary coverage types: liability coverage and property protection coverage.
As it relates to a homeowners insurance policy, property and casualty insurance may cover your belongings and/or another individual’s expenses in the aftermath of an accident occurring from the result of your negligence. For instance, if a guest suffers an injury in your home as a result of your negligence, property and casualty can cover their medical bills, pain and suffering, and loss of income. Negligence would come into play if, for instance, you have put off repairing broken stairs in your home and your guest is injured on these stairs as a result. Property and casualty insurance may also help cover legal fees in the event you are sued by that individual. However, property and casualty insurance can also cover losses relating to your home and belongings in the event of a covered accident.
In short, property and casualty insurance can help pay costs that you’re legally responsible for, up to your policy limits.
What do homeowners property and casualty provisions cover?
Consider the following scenarios in which property and casualty insurance might come into play.
Scenario 1: A visitor falls inside your home and fractures their leg.
If the fall is found to be due to your negligence (rather than the visitor’s), you could be liable for that person’s medical bills, as well as pain and suffering, regardless of whether that person has insurance. Property and casualty insurance protection provided by the homeowners policy can help cover these costs so you won’t have to pay out of pocket.
Scenario 2: An individual is unable to walk and cannot perform their job after an injury sustained on your property.
If someone has an accident on your property that you are found liable for, and that person is unable to work as a result, you could be held accountable for their loss of income. Property and casualty coverage could help you avoid paying out of pocket for the individual’s lost wages, up to the covered limits of your policy.
Scenario 3: You are sued by a visitor after they were injured in your home.
If you are sued by an individual who was injured on your property, you will likely have to pay for the cost of an attorney and other legal fees – which can add up quickly. If you have property and casualty insurance, your insurance provider may cover the cost of these legal fees during the dispute.
Scenario 4: Your home is vandalized and damaged
Property and casualty insurance is a broad insurance, which includes coverage to your structure, property and belongings in the event of vandalism, theft, and more. If a thief were to break into your home, you would be protected up to your covered limits under your homeowners insurance policy.
Scenario 5: Your home is damaged by a covered weather incident
Property and casualty insurance also includes financial protection in the event of a covered weather incident. Remember to read your insurance policy closely for exact details; what types of weather and natural disasters are covered by home insurance will vary according to where you live and what type of insurance you have.
Property and casualty insurance is a smart investment that can help you and your family in the event of an unforeseen accident in your home or on your property. Nationwide’s homeowners and renters insurance policies include bodily injury and property liability. Get a home insurance quote today to select the type of coverage that’s best for your lifestyle.
аёљаёЈаёґаёЃаёІаёЈа№Ђаё›аёґаё”аёћаё€аё™аёІаё™аёёаёЃаёЈаёЎаёаё±аё•а№‚аё™аёЎаё±аё•аёґ аё•аёґаё”а№‚аёћаёў (PopThai)
аёљаёЈаёґаёЃаёІаёЈ аё•аёґаё”а№‚аёћаёў (PopThai) а№Ђаё›а№‡аё™аёљаёЈаёґаёЃаёІаёЈа№Ђаё›аёґаё”аёћаё€аё™аёІаё™аёёаёЃаёЈаёЎаёаё±аё•а№‚аё™аёЎаё±аё•аёґ а№‚аё”аёўаёњаё№а№‰а№ѓаёЉа№‰аёЄаёІаёЎаёІаёЈаё–аё›а№‰аёаё™аё‚а№‰аёаё„аё§аёІаёЎ (аё—аёµаёҐаё°аё›аёЈаё°а№‚аёўаё„ аё«аёЈаё·аё а№Ђаё›а№‡аё™аё«аё™а№‰аёІа№ЂаёҐаёўаёЃа№‡а№„аё”а№‰ а№„аёЎа№€аё€аёіа№Ђаё›а№‡аё™аё•а№‰аёаё‡аё—аёµаёҐаё°аё„аёіаёЄаёаё‡аё„аёі) аё«аёЈаё·аёаё›а№‰аёаё™а№Ђаё§а№‡аёљ URL аёЈаё°аёљаёљаё€аё°а№„аё›аё”аё¶аё‡а№Ђаё™аё·а№‰аёаё«аёІа№Ђаё§а№‡аёљаё™аё±а№‰аё™а№† аёЎаёІ а№ЃаёҐа№‰аё§аё—аёіаёЃаёІаёЈа№Ѓаё™аёљаё„аё§аёІаёЎаё«аёЎаёІаёўаё‚аёаё‡аё„аёіаё«аёЈаё·аёаё§аёҐаёµаё аёІаё©аёІаё•а№€аёІаё‡аё›аёЈаё°а№Ђаё—аёЁ (аё›аё±аё€аё€аёёаёљаё±аё™аёЄаё™аё±аёљаёЄаё™аёёаё™ аё аёІаё©аёІаёаё±аё‡аёЃаё¤аё©, аёЌаёµа№€аё›аёёа№€аё™а№ЃаёҐаё°а№ЂаёўаёаёЈаёЎаё±аё™ ) аё•аёґаё”аёЃаё±аёља№Ђаё™аё·а№‰аёаё«аёІаё™аё±а№‰аё™а№† а№ЃаёҐаё°аё€аё°а№ЃаёЄаё”аё‡аёњаёҐаё„аё§аёІаёЎаё«аёЎаёІаёўа№ЂаёЎаё·а№€аёа№ЂаёаёІа№ЂаёЎаёІаёЄа№Ња№„аё›аё§аёІаё‡а№Ђаё«аё™аё·аёаё„аёіаё«аё™аё¶а№€аё‡а№† аёЉа№€аё§аёўа№ѓаё«а№‰аёЄаёІаёЎаёІаёЈаё–а№Ђаё‚а№‰аёІа№ѓаё€а№Ђаё™аё·а№‰аёаё«аёІаё‚аёаё‡а№Ђаё§аёљаё аёІаё©аёІаё•а№€аёІаё‡аё›аёЈаё°а№Ђаё—аёЁа№„аё”а№‰аёЄаё°аё”аё§аёЃа№ЃаёҐаё°аёЈаё§аё”а№ЂаёЈа№‡аё§аёўаёґа№€аё‡аё‚аё¶а№‰аё™
аё„аё§аёІаёЎаё«аёЎаёІаёўаё‚аёаё‡аё„аёіаё€аё°аё›аёЈаёІаёЃаёЏаё‚аё¶а№‰аё™аёЎаёІа№ЂаёЎаё·а№€аёаё—а№€аёІаё™а№ЂаёаёІа№ЂаёЎаёІаёЄа№Ња№„аё›аё§аёІаё‡аёљаё™аё„аёіаё«аёЈаё·аёаё§аёҐаёµаё—аёµа№€аёЎаёµаёаёўаё№а№€а№ѓаё™аёћаё€аё™аёІаё™аёёаёЃаёЈаёЎ а№‚аё”аёўа№„аёЎа№€аё€аёіа№Ђаё›а№‡аё™аё•а№‰аёаё‡аёЃаё”аё›аёёа№€аёЎа№ѓаё”а№† аё”аё±аё‡аё•аё±аё§аёаёўа№€аёІаё‡а№ѓаё™аёЈаё№аё›аё‚а№‰аёІаё‡аёҐа№€аёІаё‡аё™аёµа№‰
аё„аёёаё“аёЄаёЎаёљаё±аё•аёґ / Features
- а№ЃаёЄаё”аё‡аё„аё§аёІаёЎаё«аёЎаёІаёўаё‚аёаё‡аё„аёіа№‚аё”аёўаёаё±аё•а№‚аё™аёЎаё±аё•аёґ а№Ђаёћаёµаёўаё‡аё§аёІаё‡а№ЂаёЎаёІаёЄа№Ња№„аё§а№‰аёљаё™аё„аёіаё—аёµа№€аё•а№‰аёаё‡аёЃаёІаёЈаё—аёЈаёІаёљаё„аё§аёІаёЎаё«аёЎаёІаёў
- аёЄаё™аё±аёљаёЄаё™аёёаё™а№Ђаё§аёљаё«аёҐаёІаёЃаё аёІаё©аёІ (аё›аё±аё€аё€аёёаёљаё±аё™ аё аёІаё©аёІаёаё±аё‡аёЃаё¤аё© аёЌаёµа№€аё›аёёа№€аё™ а№ЃаёҐаё°а№ЂаёўаёаёЈаёЎаё±аё™)
- аё„а№‰аё™аё«аёІаё„аё§аёІаёЎаё«аёЎаёІаёўаё€аёІаёЃаёћаё€аё™аёІаё™аёёаёЃаёЈаёЎаё«аёҐаёІаёўаёЉаёёаё”аёћаёЈа№‰аёаёЎа№†аёЃаё±аё™ а№ѓаё™аёђаёІаё™аё‚а№‰аёаёЎаё№аёҐаё‚аёаё‡ Longdo а№„аё”а№‰а№ЃаёЃа№€ Lexitron2, Hope, Nontri, Longdo аёаё±аё‡аёЃаё¤аё©-а№„аё—аёў, Longdo а№ЂаёўаёаёЈаёЎаё±аё™-а№„аё—аёў а№Ђаё›а№‡аё™аё•а№‰аё™
- а№ЃаёЄаё”аё‡а№„аё”а№‰аё—аё±а№‰аё‡аё„аё§аёІаёЎаё«аёЎаёІаёўаё‚аёаё‡аё„аёіа№Ђаё”аёµа№€аёўаё§ а№ЃаёҐаё°аё„аёіаёњаёЄаёЎ а№„аё”а№‰аёаёўа№€аёІаё‡аё–аё№аёЃаё•а№‰аёаё‡ а№ЂаёЉа№€аё™ Secretary of State=аёЈаё±аёђаёЎаё™аё•аёЈаёµаё•а№€аёІаё‡аё›аёЈаё°а№Ђаё—аёЁаё‚аёаё‡аёЄаё«аёЈаё±аёђаёЇ (а№ѓаё™аё аёІаёћаё•аё±аё§аёаёўа№€аёІаё‡), High school=а№‚аёЈаё‡а№ЂаёЈаёµаёўаё™аёЎаё±аёаёўаёЎаё›аёҐаёІаёў
- а№ЃаёЄаё”аё‡аё„аё§аёІаёЎаё«аёЎаёІаёўаё‚аёаё‡аё„аёіаё—аёµа№€а№Ѓаё›аёЈаёЈаё№аё›аё€аёІаёЃаё„аёіа№ѓаё™аёћаё€аё™аёІаё™аёёаёЃаёЈаёЎа№„аё”а№‰ а№ЂаёЉа№€аё™ а№ЂаёЎаё·а№€аёаё§аёІаё‡а№ЂаёЎаёІаёЄа№Ња№„аё§а№‰аёљаё™аё„аёіаё§а№€аёІ executed/abusing аё‹аё¶а№€аё‡а№„аёЎа№€аёЎаёµа№ѓаё™аёћаё€аё™аёІаё™аёёаёЃаёЈаёЎ а№Ђаё„аёЈаё·а№€аёаё‡аё€аё°а№ЃаёЄаё”аё‡аё„аё§аёІаёЎаё«аёЎаёІаёўаё‚аёаё‡аё„аёіаё§а№€аёІ execute/abuse а№ѓаё«а№‰а№‚аё”аёўаёаё±аё•а№‚аё™аёЎаё±аё•аёґ
- а№ЂаёЈаёµаёўаёЃа№ѓаёЉа№‰аё‡аёІаё™а№„аё”а№‰аё‡а№€аёІаёўа№Ђаёћаёµаёўаё‡аёЃаё”аё›аёёа№€аёЎ PopThai аёљаё™ Longdo Toolbar а№Ђаёћаё·а№€аёа№Ѓаё™аёљаё„аё§аёІаёЎаё«аёЎаёІаёўаё«аё™а№‰аёІаё€аёаё—аёµа№€а№Ђаё›аёґаё”аёЉаёЎаёаёўаё№а№€а№ѓаё™аё‚аё“аё°аё™аё±а№‰аё™
- а№ЃаёЃа№‰а№„аё‚ Link а№ѓаё™аё«аё™а№‰аёІаё—аёµа№€а№ЃаёЄаё”аё‡ а№Ђаёћаё·а№€аёа№ѓаё«а№‰аёЄаёІаёЎаёІаёЈаё–а№Ђаё›аёґаё”аёЉаёЎ Link а№Ђаё«аёҐа№€аёІаё™аё±а№‰аё™аёња№€аёІаё™аёљаёЈаёґаёЃаёІаёЈ PopThai а№„аё”а№‰аё—аё±аё™аё—аёµа№ЂаёЉа№€аё™а№Ђаё”аёµаёўаё§аёЃаё±аё™
- аёЄаё™аё±аёљаёЄаё™аёёаё™аёљаёЈаёІаё§а№Ђаё‹аёаёЈа№ЊаёЉаё±а№‰аё™аё™аёіаё—аё±а№€аё§а№„аё› а№ЂаёЉа№€аё™ Internet Explorer, Firefox, Chrome, Safari, Konqueror, etc.
- а№ЃаёЄаё”аё‡ Link а№ѓаё«а№‰аёњаё№а№‰а№ѓаёЉа№‰аёЉа№€аё§аёўаё›а№‰аёаё™аё„аё§аёІаёЎаё«аёЎаёІаёўаёЄаёіаё«аёЈаё±аёљаё„аёіаё—аёµа№€аёўаё±аё‡а№„аёЎа№€аёЎаёµаёаёўаё№а№€а№ѓаё™аёћаё€аё™аёІаё™аёёаёЃаёЈаёЎ
- а№ѓаё«аёЎа№€: аёљаёЈаёґаёЃаёІаёЈ Vocabulary а№ЃаёЄаё”аё‡аёЄаёЈаёёаё›аёЈаёІаёўаёЃаёІаёЈаё„аёіаёЁаё±аёћаё—а№ЊаёћаёЈа№‰аёаёЎаё„аё§аёІаёЎаё«аёЎаёІаёў аёЄаёіаё«аёЈаё±аёљаёћаёґаёЎаёћа№ЊаёаёаёЃаёЎаёІаёа№€аёІаё™а№„аё”а№‰аёЄаё°аё”аё§аёЃ аё§аёґаёаёµа№ѓаёЉа№‰аё‡аёІаё™ а№ѓаё«а№‰а№ЂаёҐаё·аёаёЃаё•аёЈаё‡аё•аё±аё§а№ЂаёҐаё·аёаёЃаёљаёЈаёґаёЃаёІаёЈаё”а№‰аёІаё™аёљаё™ а№ѓаё«а№‰а№Ђаё›а№‡аё™ Vocabulary а№Ѓаё—аё™ PopThai. (PopThai а№ѓаё™а№‚аё«аёЎаё”аё›аёЃаё•аёґ аё€аё°а№Ђаё«аёЎаёІаё°аёЃаё±аёљаёЃаёІаёЈа№ѓаёЉа№‰аё‡аёІаё™ on-line аё«аё™а№‰аёІаё€аёаё„аёаёЎаёћаёґаё§а№Ђаё•аёаёЈа№‡ аёЄа№€аё§аё™аёљаёЈаёґаёЃаёІаёЈ Vocabulary а№Ђаё«аёЎаёІаё°аёЄаёіаё«аёЈаё±аёљаё—а№€аёІаё™аё—аёµа№€аё•а№‰аёаё‡аёЃаёІаёЈаёћаёґаёЎаёћа№ЊаёЈаёІаёўаёЃаёІаёЈаё„аёіаёЁаё±аёћаё—а№Ња№ЃаёҐаё°аё„аё§аёІаёЎаё«аёЎаёІаёўаёаёаёЃаёЎаёІаёљаё™аёЃаёЈаё°аё”аёІаё©а№„аё§а№‰аёа№€аёІаё™ off-line)
- а№ѓаё«аёЎа№€: аёљаёЈаёґаёЃаёІаёЈ Pronunciation Guide а№ЃаёЄаё”аё‡аё„аёіаёа№€аёІаё™аё‚аёаё‡аё„аёіа№ѓаё™ а№Ђаё§а№‡аёљ аё«аёЈаё·аё text аё—аёµа№€аё›а№‰аёаё™а№ѓаё«а№‰ аё‚а№‰аёІаё‡аёљаё™аё„аёіаё™аё±а№‰аё™а№†, аё™аёаёЃа№Ђаё«аё™аё·аёа№„аё› аё€аёІаёЃаёЃаёІаёЈа№ЃаёЄаё”аё‡ pop-up аё„аё§аёІаёЎаё«аёЎаёІаёў. аё§аёґаёаёµа№ѓаёЉа№‰аё‡аёІаё™ а№ѓаё«а№‰а№ЂаёҐаё·аёаёЃаё•аёЈаё‡аё•аё±аё§а№ЂаёҐаё·аёаёЃаёљаёЈаёґаёЃаёІаёЈаё”а№‰аёІаё™аёљаё™ а№ѓаё«а№‰а№Ђаё›а№‡аё™ Pronunciation. аё‚аё“аё°аё™аёµа№‰а№ѓаёЉа№‰а№„аё”а№‰аёЃаё±аёљаё аёІаё©аёІаёаё±аё‡аёЃаё¤аё© (а№ЃаёЄаё”аё‡аё„аёіаёа№€аёІаё™аё аёІаё©аёІаёаё±аё‡аёЃаё¤аё©) а№ЃаёҐаё°аё аёІаё©аёІаёЌаёµа№€аё›аёёа№€аё™ (а№ЃаёЄаё”аё‡ hiragana а№Ђаё«аё™аё·аёаё„аё±аё™аё€аёґ). аёљаёЈаёґаёЃаёІаёЈаё™аёµа№‰ а№ѓаёЉа№‰ extension аё‚аёаё‡ browser аё—аёµа№€аёЉаё·а№€аё Ruby аё›аё±аё€аё€аёёаёљаё±аё™аёЎаёµа№Ѓаё„а№€ IE browser аё—аёµа№€аёЄаё™аё±аёљаёЄаё™аёёаё™ аё–а№‰аёІа№Ђаё›а№‡аё™ browser аёаё·а№€аё™а№† аё€аё°а№Ђаё«а№‡аё™аё„аёіаёа№€аёІаё™аё›аёЈаёІаёЃаёЋа№ѓаё™аё§аё‡а№ЂаёҐа№‡аёља№Ѓаё—аё™
аё—а№€аёІаё™аёЄаёІаёЎаёІаёЈаё–аё›а№‰аёаё™а№Ђаё™аё·а№‰аёаё«аёІаё«аёЈаё·аё URL аё‚аёаё‡а№Ђаё§а№‡аёља№„аё‹аё•а№Њаё—аёµа№€аё•а№‰аёаё‡аёЃаёІаёЈа№ѓаё«а№‰а№Ѓаё™аёљаё„аё§аёІаёЎаё«аёЎаёІаёўаё™аёµа№‰ а№ѓаё™аёЉа№€аёаё‡а№ѓаёЄа№€аё‚а№‰аёаё„аё§аёІаёЎаё„а№‰аё™аё«аёІаё›аёЃаё•аёґ
аё«аёҐаё±аё‡аё€аёІаёЃаё™аё±а№‰аё™а№ЂаёҐаё·аёаёЃаёљаёЈаёґаёЃаёІаёЈаё—аёµа№€аё•а№‰аёаё‡аёЃаёІаёЈ (а№ЂаёЉа№€аё™ аё–а№‰аёІаё›а№‰аёаё™аё‚а№‰аёаё„аё§аёІаёЎ а№ѓаё«а№‰а№ЂаёҐаё·аёаёЃ PopThai (text) аё–а№‰аёІаё›а№‰аёаё™ URL а№ѓаё«а№‰а№ЂаёҐаё·аёаёЃ PopThai (URL)) аё–а№‰аёІаё—а№€аёІаё™а№„аёЎа№€а№ЂаёҐаё·аёаёЃаёљаёЈаёґаёЃаёІаёЈ аёЈаё°аёљаёљаё€аё°а№Ђаё”аёІаёљаёЈаёґаёЃаёІаёЈаё—аёµа№€аё—а№€аёІаё™аё•а№‰аёаё‡аёЃаёІаёЈ аё€аёІаёЃаё‚а№‰аёаё„аё§аёІаёЎаё—аёµа№€аё—а№€аёІаё™а№ѓаёЄа№€а№Ђаё‚а№‰аёІаёЎаёІ (аё§а№€аёІа№Ђаё›а№‡аё™аё‚а№‰аёаё„аё§аёІаёЎаё«аёЈаё·аёа№Ђаё›а№‡аё™ URL) а№‚аё”аёўаёаё±аё•а№‚аё™аёЎаё±аё•аёґ, аё€аёІаёЃаё™аё±а№‰аё™аёЃаё” Submit а№Ђаё›а№‡аё™аёаё±аё™а№ЂаёЄаёЈа№‡аё€
а№ѓаё™аёЃаёЈаё“аёµаё—аёµа№€аё—а№€аёІаё™а№ѓаёЄа№€ URL аёЈаё°аёљаёљаё€аё°а№„аё›аё—аёіаёЃаёІаёЈаё”аёІаё§аё™а№Ња№‚аё«аёҐаё”а№Ђаё™аё·а№‰аёаё«аёІаё‚аёаё‡аё«аё™а№‰аёІаё™аё±а№‰аё™а№† аёЎаёІа№ЃаёҐаё°а№Ѓаё™аёљаё„аё§аёІаёЎаё«аёЎаёІаёў аёћаёЈа№‰аёаёЎа№ЃаёЃа№‰а№„аё‚аёҐаёґаё‡аё„а№Њаё•а№€аёІаё‡а№† а№ѓаё«а№‰а№Ђаё›а№‡аё™аёња№€аёІаё™аёљаёЈаёґаёЃаёІаёЈ PopThai а№Ђ аёћаё·а№€аёаё—аёµа№€аё§а№€аёІа№ЂаёЎаё·а№€аёаё—а№€аёІаё™аёЃаё”аё—аёµа№€аёҐаёґаё‡аё„а№Ња№ѓаё”а№† аё•а№€аёа№„аё›аё€аёІаёЃа№Ђаёћаё€аё™аё±а№‰аё™а№† аёЃа№‡аё€аё°аёЎаёµаёЃаёІаёЈа№Ѓаё™аёљаё„аё§аёІаёЎаё«аёЎаёІаёўаёЎаёІа№ѓаё«а№‰аё”а№‰аё§аёўа№ѓаё™аё—аё±аё™аё—аёµ
а№Ђаёћаё·а№€аёа№Ђаёћаёґа№€аёЎаё„аё§аёІаёЎаёЄаё°аё”аё§аёЃа№ѓаё™аёЃаёІаёЈа№ѓаёЉа№‰аё—а№€аёІаё™аёЄаёІаёЎаёІаёЈаё–а№ѓаёЉа№‰ PopThai аёња№€аёІаё™ Longdo Toolbar а№‚аё”аёўа№ЂаёЎаё·а№€аёаё—а№€аёІаё™а№Ђаё›аёґаё”аё”аё№а№Ђаё§а№‡аёља№„аё‹аё•а№Ња№ѓаё”а№† аёаёўаё№а№€аё•аёІаёЎаё›аёЃаё•аёґ а№ЃаёҐаё°аё•а№‰аёаё‡аёЃаёІаёЈа№ѓаёЉа№‰аёљаёЈаёґаёЃаёІаёЈ PopThai аёЄаёіаё«аёЈаё±аёљ аё«аё™а№‰аёІаё™аё±а№‰аё™а№† аёЄаёІаёЎаёІаёЈаё–аё—аёіа№„аё”а№‰аё—аё±аё™аё—аёµ а№‚аё”аёўаё„аёҐаёґаёЃаё—аёµа№€аё›аёёа№€аёЎ PopThai аёљаё™ Toolbar аёЈаёІаёўаёҐаё°а№Ђаёаёµаёўаё”а№Ђаёћаёґа№€аёЎа№Ђаё•аёґаёЎа№‚аё›аёЈаё”аёа№€аёІаё™аё—аёµа№€ Longdo Toolbar
аё„аёіа№Ђаё•аё·аёаё™ а№ѓаё™аёЃаёЈаё“аёµаё‚аёаё‡ URL аё™аёµа№‰ аё–аё¶аё‡а№ЃаёЎа№‰аё—аёІаё‡аёњаё№а№‰аё”аё№а№ЃаёҐаёЈаё°аёљаёљаёҐаёаё‡аё”аё№аё€аё°а№„аё”а№‰аё—аёіаёЃаёІаёЈаё—аё”аёЄаёаёљаёЃаё±аёљаё«аёҐаёІаёўа№Ђаё§а№‡аёља№„аё‹аё•а№Њ а№ЃаёҐа№‰аё§аёЃа№‡аё•аёІаёЎ аёўаё±аё‡аёЎаёµаёљаёІаё‡а№Ђаё§а№‡аёља№„аё‹аё•а№Њаё—аёµа№€аё‚а№‰аёаёЎаё№аёҐа№Ђаё§аёҐаёІаё—аёµа№€аёЈаё°аёљаёља№„аё›а№‚аё«аёҐаё”аёЎаёІаё€аё°а№Ѓаё•аёЃаё•а№€аёІаё‡аё€аёІаёЃаё—аёµа№€аё—а№€аёІаё™а№Ђаё›аёґаё”аё”аё№а№‚аё”аёўа№ѓаёЉа№‰ browser а№‚аё”аёўаё•аёЈаё‡ а№‚аё›аёЈаё”аёЈаё°аё§аё±аё‡аё”а№‰аё§аёў а№ЃаёҐаё°а№„аёЎа№€аё„аё§аёЈа№ѓаёЉа№‰аёЃаё±аёљаё«аё™а№‰аёІа№Ђаё§а№‡аёља№„аё‹аё•а№Њаё—аёµа№€ аё•а№‰аёаё‡аёЃаёІаёЈаё„аё§аёІаёЎаё–аё№аёЃаё•а№‰аёаё‡аёЄаё№аё‡)
What is ‘Indemnity’
Indemnity is compensation for damages or loss, and in the legal sense, it may also refer to an exemption from liability for damages. The concept of indemnity is based on a contractual agreement made between two parties, in which one party agrees to pay for potential losses or damages caused by the other party. A typical example is an insurance contract, whereby one party (the insurer or the indemnitor) agrees to compensate the other (the insured or the indemnitee) for any damages or losses, in return for premiums paid by the insured to the insurer.
Letter Of Indemnity
BREAKING DOWN ‘Indemnity’
An indemnity clause is standard in most insurance agreements. Exactly what is covered, and to what extent, depends on the specific agreement. Any given indemnity agreement has what is called a period of indemnity, or a specific length of time for which the indemnity is valid. Similarly, many contracts include a letter of indemnity, which guarantees that the contract stipulations will be met by both parties or else an indemnity must be paid.
Indemnity is common in agreements between an individual and a business (for example, an agreement to obtain car insurance), but it also applies, on a larger scale, to relationships between businesses and government or between governments of two or more countries. Sometimes, government, a business or an entire industry must take on the costs of larger issues on behalf of the public, such as outbreaks of disease. For example, the U.S. government made $200 million in indemnity payments in the wake of a bird flu epidemic that nearly wiped out the domestic poultry industry in 2014 and 2015.
Indemnity insurance is a way for a company (or individual) to protect itself against indemnity claims. This insurance protects the holder from having to pay the full sum of an indemnity, even if the holder is at fault for the cause of the indemnity in the first place. Many companies make indemnity insurance a requirement, as lawsuits are common. Everyday examples include malpractice insurance, which is common in medical fields, and errors and omissions insurance (E&O), which protects companies and their employees against claims made by clients and applies to any given industry. Some companies also invest in deferred compensation indemnity insurance, which protects money they expect to receive in the future.
Like any other form of insurance, indemnity insurance covers the costs of an indemnity claim, including but not limited to court costs, fees and settlements. The amount covered by insurance depends on the specific agreement, and the cost of the insurance depends on many factors, including past history of indemnity claims.
Property leases also include indemnity clauses. In the case of a rental property, for example, a tenant is typically responsible for damages due to negligence, fines, lawyer fees and more, depending on the agreement.
Acts of Indemnity
An act of indemnity protects those who have acted illegally from being subject to penalties. This exemption typically applies to public officers, such as police officers or government officials, who are compelled to break the law in order to carry out the responsibilities of their jobs. Often, such protection is granted to a group of people, who committed an illegal act for the common good, such as the assassination of a known dictator or terrorist leader.
History of Indemnity
Although indemnity agreements haven’t always had a name, they are not a new concept, as they are a necessary part of ensuring cooperation between individuals, businesses and governments. In 1825, Haiti was forced to pay France what was then called an “independence debt.” The payments were intended to cover the losses that French plantation owners suffered in land and slaves. While the indemnity described in this article is now known to have been unjust, it is just one of many historical cases that show the ways indemnity has been used worldwide.
Another common form of indemnity is the reparations a winning country seeks from a losing country after the conclusion of a war. Depending on the amount and extent of the indemnity due, it can take years and even decades to pay off. One of the most well-known examples is the indemnity Germany paid after its role in World War I. Those reparations were finally paid off in 2010, almost a century after they were put in place.
The word “indemnity” stems from the Latin root indemnis, meaning “unhurt, undamaged” or “without loss.”
Indemnity may be paid in the form of cash or by way of repairs or replacement, depending on exactly what is spelled out in the indemnity agreement.
For example, in the case of home insurance, the homeowner pays insurance premiums to the insurance company in exchange for the peace of mind of knowing that he or she will be indemnified if the house sustains damage from fire, natural disasters or other perils specified in the insurance agreement. In the unfortunate event that the home is damaged significantly, the insurance company will be obligated to bring it back to its original state, either by means of repairs by authorized contractors or by reimbursing the homeowner for expenditures incurred for such repairs.