what is a insurance and indemnification agreement
I'm having trouble finding on elf these to give to a contractor, what makes it even harder is I don't even know what it is.
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An indemnity is when one party agrees to hold the other harmless if something bad happens. For example, if you're my employee and you get sued for, say, negligence. I may choose to indemnify you against any negligence claims. In that case, I would cover the costs of any suit you may face. This is often backed by an insurance policy, but it doesn't have to be. Most indemnities are fairly specific as to what they cover and the extent of the liability they're willing to assume. Hope that helps.