What does Anti Indemnity Statute mean? Read on to discover the definition & meaning of the term Anti Indemnity Statute - to help you better understand the language used in insurance policies.
Anti Indemnity Statute
A law that defines the scope of legal liability that one party may transfer to another in a contract. Anti-indemnity statutes may prohibit the transfer of any liability attributable to the transferor's negligence; or, alternatively, they may prohibit only the transfer of liability arising from the transferor's sole negligence. In some states, anti-indemnity statutes also limit the ability of one contracting party to require additional insured status under the other party's insurance policies. Anti-indemnity statutes are most commonly used to regulate the risk transfer provisions of construction contracts.
We hope the you have a better understanding of the meaning of Anti Indemnity Statute.