Hold-harmless Agreement

Definition of "Hold-harmless agreement"

Kevin Carney real estate agent

Written by

Kevin Carneyelite badge icon

The K Co. Realty

Assumption of liability through contractual agreement by one party, thereby eliminating liability on the part of another party. An example is a railroad sidetrack agreement with a manufacturing company under which the manufacturer is held harmless for damage to railroad equipment and tracks.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Transfer of property without payment. ...

Clause in a liability insurance policy under which an insurance company agrees to defend an insured even if a lawsuit is without foundation. The costs of defending the insured are covered, ...

Group in which subscribing members agree to (1) regulations governing their behavior, and (2) the qualifications that reinsurance contracts ceded to them must meet in order to be ...

Modifications of the traditional defined benefit plan in which employees are credited with a specified percentage for each year of recognized service with the employer. Upon termination of ...

Coverage for the employer in the event of a tort committed by an employee in the use of his or her own car while conducting business on behalf of the employer. ...

Federal law, effective February 4, 1989, that requires company notification of employees prior to laying them off or closing a plant or an office. Workers covered under WARN are to include ...

Disposition or transfer of property at time of death. Although the law provides that property may be transferred at death only by means of a will that meets the requirements of state ...

Relationship of incurred losses plus loss adjustment expense to earned premiums. ...

Coverage on an all risks basis for loss due to theft or mysterious disappearance of personal property; damage to premises and property within resulting from theft; and vandalism and ...

Popular Insurance Questions