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An indemnity is distinct from a warranty in that: [8] An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. [2] It is headquartered in Peoria, Illinois. [2] [3]RLI conducts its operations primarily through four insurance subsidiaries — RLI Insurance Company, Mt. Hawley Insurance Company, [4] RLI Indemnity Company, and Contractors Bonding and Insurance Company.
In 2002, the company acquired Dickson Manchester Ltd. and MAG Global Financial Products. [21] [22] In 2004, the company acquired American Contractors Indemnity Company and RA&MCO Insurance companies. [23] [24] In 2005, the company acquired US Surety company, DeMontfort Group, Ltd., Perico Ltd., MIC Life Insurance, and the Ilium Insurance Group.
This might include terms which relate to when the loan is to finance a company acquisition or a large infrastructure project, conferring interests in the lenders. Often term sheets are made to be expressly non-binding. However, in Maple Leaf Macro Volatility Master Fund v Rouvroy (2009) a loan term sheet was held to create a contract.
Catlin Group Limited was a Bermuda-based specialty insurance and reinsurance company. Catlin operated six underwriting hubs worldwide and operated more than 55 offices worldwide. It owned the largest syndicate at Lloyd's of London, based on 2011 gross written premiums. [2]
The company has 1.01% of the domestic property and casualty insurance premiums, which ranks it as the 20th largest insurance company by market share in the U.S. [2] The Cincinnati Insurance Company was founded in 1950 by four agents, including brothers John Jack Schiff and Robert Cleveland Schiff.