Indemnity insurance


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Indemnity Insurance

An insurance policy that pays the policyholder a certain amount per day after the insured event occurs. For example, if a policyholder is hospitalized, he/she may make a claim on his/her indemnity insurance policy and receive $150 per day. Thus, indemnity insurance does not cover specific expenses, but rather provides a flat fee. It is useful as a supplement to primary insurance because indemnity insurance may not provide enough to cover the policyholder by itself.

Indemnity insurance.

An indemnity insurance policy pays up to a fixed amount when you make a claim, often on a per-day basis.

The premiums on health insurance indemnity plans may be lower than on other heathcare plans, but the fixed payments may cover only a portion of your medical bills.

Some people use indemnity plans as supplements to, rather than substitutes for, more comprehensive health insurance. Others use low-cost indemnity plans for short-term coverage.

References in periodicals archive ?
Explain how hospital indemnity insurance complements existing coverage.
Just 40 percent of workers know whether they've been offered hospital indemnity insurance or similar products at work, and 33 percent they have not been offered access to it.
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CCP strongly recommends that SECP should drop the raise in capital requirements and indemnity insurance in favour of better competencybased regulations encompassing education, examination, licensing, and continued education requirements.
The Solicitors Regulation Authority has been forced to push through the closure of 136 legal firms, 15 in the North West because they were unable to obtain professional indemnity insurance.
The warning follows an announcement from the Solicitors' Regulation Authority (SRA), detailing that 191 law practices across the UK have declared that they are still operating without professional indemnity insurance.
After its property was damaged by a hailstorm, T & B McDowell submitted proof of loss to Peerless Indemnity Insurance Company (Peerless).
The project is seen enabling CARD Insurance and Pioneer Insurance to offer indemnity insurance to thousands of farmers and rural entrepreneurs as an affordable means to protect their assets and livelihoods.
Health visitors and school nurses may end up having to pay up to 1,200 [pounds sterling]-a-year for their own public indemnity insurance under new EU regulations.
The NSWNMA has obtained insurance for all our financial members for journey claims, as well as further professional indemnity insurance for members who may occasionally work in other states, where protection does not ensure they won't be individually sued by patients or their employer for alleged acts of negligence.
9 December 2011 - AM Best has changed the outlook on US-based Indemnity Insurance Corporation RRG's financial strength rating of A- (Excellent) and issuer credit rating of "a-" to "negative" from "stable".