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Definitions from the Web

Risk Indemnity

Description:

Risk indemnity refers to a financial arrangement or contract where one party agrees to compensate another party for potential losses or damages that may occur due to specific risks or events. The indemnitor takes on the responsibility of providing monetary compensation, relieving the indemnitee from the financial burden that may arise from said risks.

Sample Sentences:

• The insurance company offered risk indemnity to protect businesses from losses caused by natural disasters.
• As a risk management strategy, they decided to purchase risk indemnity coverage to mitigate financial risks.
• The landlord required a risk indemnity deposit to cover any damages that may occur during the tenancy.
• The government offered risk indemnity to farmers to compensate for losses due to crop failure.
• In order to launch the new product, the company sought risk indemnity to protect against potential liabilities and legal claims.

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