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What does duty to indemnify mean?

The duty to indemnify means the insurers duty to pay the claim, by funding a settlement or paying a judgment against the insured. Unlike the duty to defend, which is typically determined by the policy and petition, the duty to indemnify is based on any and all information developed in the underlying suit or claim.

What does indemnity mean in simple terms?

Indemnity is a contractual agreement between two parties in which one party agrees to pay for potential losses or damage caused by another party.

What is an undertaking to indemnify?

Also known as indemnify and indemnification. Generally, an undertaking by one party to reimburse the other party or pay them directly for certain costs and expenses.

What does undertake to indemnify mean?

Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.

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