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Web09. nov 2024. · A limited liability or indemnity clause may save a company from financial ruin. However, many companies ignore these clauses because nearly every contract … WebIt further provides that any “overpayment” of costs be offset against the limit available to settle the claim, e.g. indemnity limit $1 million, claim settled for $2 million, defence costs incurred $600,000. The ratio of sum insured to the claim settlement is 1 to 2 or 50%. Therefore, in the above example, 50% of the defence costs ($300,000 ... java chest of drawers

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