A claim is a request by an insured party for compensation or indemnification from an insurance company for loss incurred due to an insured peril.
A Hold Harmless Clause is a provision in a contract where one party agrees to protect another party from claims and liabilities that may arise during the execution of the contract. Such clauses are critical for risk management in various business agreements.
Leasehold insurance provides coverage for a tenant (lessee) with a favorable lease. If the lease is canceled by the lessor due to an insured peril, the lessee is indemnified for the loss incurred from losing the advantageous lease.
Insurance coverage protecting future profits or commissions from a manufacturer's inventory loss due to insured perils like fire.
