Concepts of Warranty and Indemnity Insurance

Warranty &Indemnity (W&I) Insurance is a tool to protect both the buyer and the seller against financial loss resulting from a misrepresentation in, or breach of the warranties. These clauses remain the most heavily negotiated clauses. While the usage of W&I Insurance is gradually increasing it still remains untapped largely due to parties’ unawareness about its benefits and perception of the premium costs being high. The main reasons for taking this are speedy recovery of money, sense of security, financial comfort and flexibility. W&I bridges the gap between parties’ perception of the amount of risk and liability that each party should bear. Read more at:  http://www.financialexpress.com/money/insurance/warranty-and-indeminity-insurance-still-not-adequately-tapped-in-india/539763/