indemnity to principals

14:56 Apr 3, 2018
This question was closed without grading. Reason: Answer found elsewhere

English to French translations [PRO]
Law/Patents - Real Estate / Contrat de gestion immo
English term or phrase: indemnity to principals
The foregoing coverage must be provided by a commercial general liability insurance policy on an each and every claim basis and must include an indemnity to principals clause.
The foregoing coverage is available on an indemnity to principals basis
Marilyn D.
France
Local time: 21:04

Summary of reference entries provided
AllegroTrans

Discussion entries: 2





  

Reference comments


2 hrs peer agreement (net): +1
Reference

Reference information:
Indemnity to principals.

If a client alleges you’ve been negligent, and sues you for their losses, your professional indemnity insurance covers it.

But if, because of your negligence, your client (the ‘principal’) is sued by their client, an indemnity to principals clause in your policy means your insurer has to cover your client’s client’s losses too (the ‘indemnity’).

If you’ve spotted an indemnity to principals clause in a client’s contract, you’ll need to ask your insurer if they’re happy to cover it. Whether they will or not depends on the work you’re doing, and how much it’s worth. Don’t assume it’s covered.


    https://www.policybee.co.uk/blog/6877/insurance-speak-for-beginners
AllegroTrans
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 48

Peer comments on this reference comment (and responses from the reference poster)
agree  Daryo
4 hrs
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