Search Results for: double indemnity

indemnity

indemnity (in-dem-n[schwa]-tee), n. 1. A duty to make good any loss, damage, or liability incurred by another. [Cases: Indemnity 20, 25, 50–61.] 2. The right of an injured party to claim reimbursement for its loss, damage, or liability from a person who has such a duty. 3. Reimbursement or compensation for loss, damage, or liability

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double insurance

Insurance coverage by more than one insurer for the same interest and for the same insured. • Except with life insurance, the insured is entitled to only a single indemnity from a loss, and to recover this, the insured may either (1) sue each insurer for its share of the loss, or (2) sue one

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