indemnification

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Related to indemnifications: indemnified

indemnification

A contractual obligation by which one person or organization agrees to secure another against loss or damage from specified liabilities.
References in periodicals archive ?
While the income tax accounting principles (ASC 740) do not apply to taxes other than income taxes, the other elements of this framework may be applied with respect to indemnifications for such taxes.
The guidance requires what is sometimes referred to as "mirror image" accounting for indemnifications.
Further, GOL will begin monetary indemnification proceedings immediately, or as agreed upon by each family, and will discuss the matter with the relative legally entitled to do so.
In addition GOL will provide monetary indemnification as close as possible to each family's standard of living prior to the accident.
The costs of indemnification insurance also rose and threatened to become unaffordable for individuals and families.
Indemnification provisions should be designed to maximize the benefits of insurance, reduce insurance premiums, and minimize disputes among the parties and their insurance carriers.
They often seek a contractual allocation of potential environmental liabilities or use indemnification provisions, which do not affect CERCLA liability but provide for reimbursement of the indemnified party's cleanup costs.
which may have allowed for nSpire Re to fund Fairfax's indemnification of its runoff subsidiary TIG Insurance Company against losses related to Kingsmead;