Question

the person who gives the indemnity is known as
a) indemnity holder
b) surety
c) indemnifier
d) principal debtor​

Answer 1

Answer:

Parties under Indemnity Contracts

The person who promises to indemnify for a loss is the Indemnifier. On the other hand, the person whose losses the indemnifier promises to make good is the Indemnified. We can also refer to the Indemnified party as the Indemnity Holder.

Answer 2

Answer:

Indemnifier

Explanation:

Indemnifier is the insurance company who offers protection or compensation against any loss or damage occurs.

There are two parties in the contract of Insurance:

1. indemnity holder
2. Indemnifier

1. indemnity holder refers to the person to whom promise is made to offer protection or compensation against any loss or damages occurred.
2. indemnifier is the another party of the contract who makes promises to protect and compensate the indemnity holder against any losses. in other words " to make good the loss" is the main motto.

A contract of insurance is the best example of contract of indemnity where the insurance company promises to protect, compensate the insured against any losses.

And in return the insurance company receives, consideration in form of premium.

Rights of indemnity holder are:

1. The indemnifier or the insurance company is bound to compensate the indemnity holder when they will claim.
2. the indemnifier have to pay the cost of suit.

Thus, Indemnifier is the insurance company who offers or provides  protection or compensation against any loss or damage occurs to the insurer.

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