What are some common misconceptions about indemnification?
An example of an AI chatbot conversation about common misunderstandings of indemnification.
What are some common misconceptions about indemnification?
Many people think indemnification means complete protection from all liabilities, but that's not always true.
Can you explain what indemnification actually covers?
Indemnification typically covers losses, damages, or liabilities incurred by one party due to the actions of another.
Is indemnification the same as insurance?
Not exactly. Indemnification is a contractual agreement, while insurance is a policy that provides financial protection.
What should I look for in an indemnification clause?
Look for clarity on the scope of indemnity, the parties involved, and any limitations or exclusions.
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