What does save harmless mean?
What does save harmless mean?
save harmless. v. 1) also called hold harmless, to indemnify (protect) another from harm or cost. 2) to agree to guarantee that any debt, lawsuit or claim which may arise as a result of a contract or contract performance will be paid or taken care of by the party making the guarantee.
What is the meaning of hold harmless?
A hold harmless clause is used to protect a party in a contract from liability for damages or losses. In signing such a clause, the other party accepts responsibility for certain risks involved in contracting for the service. In some states, the use of a hold harmless clause is prohibited in certain construction jobs.
What is a workers comp indemnity payment?
In workers’ compensation insurance, indemnity benefits are paid to the employee to help them cover their loss of income. Indemnity benefit laws are determined on a state-by-state basis. Payments are a portion of the worker’s average weekly wage, and take into consideration the extent of the disability.
What is an indemnity only settlement?
The Indemnity Only Settlement is when the Workers Comp adjusters settle the compensation payments part of the claim. The medical part of the claims is left open for the employee’s lifetime. There are some states that will not allow an indemnity only settlement.
What is a Section 32 workers comp settlement?
New York law does not permit an injured worker to sue his employer, except under very rare circumstances. A Section 32 settlement happens when an injured worker wants to be free of his workers’ comp insurance company by taking a lump sum of cash in exchange for closing his case.
How long does it take for a Section 32 settlement?
Generally, it should take a week or two to get the settlement agreement to your attorney from the other side. When everyone has signed, your settlement must be approved by a Workers’ Compensation judge, which can take up to two weeks. Once it is approved, an insurance company has up to 30 days to mail your check.
How long does it take for compensation to be paid?
14-28 days
