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■ Putting in indemnity clauses so consumers have to pay the company's legal costs if they lose.
The Washington Group, based in Boise, Idaho, has sued in connection with its purchase of Raytheon's construction unit, and is trying to recover $822 million and avoid repaying $700 million in indemnity to Raytheon.
The move comes less than a week after the Washington Group sued in bankruptcy court in Reno, Nev., to recover $822 million and avoid $700 million in indemnity payments to the military contractor in connection with the purchase.
Of the 4,248 closed cardiovascular medical claims, 770 (18%) resulted in indemnity payments, and the average indemnity payment was $248,291.
To prevent moral hazard and to be consistent with the spirit of reinsurance, we follow Vajda (1962) and assume that both the insurer's retained loss and the proportion paid by a reinsurer are increasing in indemnity.
Still, according to the Senate report, the CIA will provide $5 million in indemnity costs to the firm to cover all legal expenses for potential criminal prosecution and investigations through 2021.
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In 2011, a then-record $10.8 billion was paid out in indemnities.
Separately, a record $11.4 billion in indemnities for crop losses has been paid out to farmers, and officials say that number could balloon to as much as $20 billion.
Think of the scene in Double Indemnity in which the calculating femme fatale Phyllis Dietrichson Barbara Stanwickk) and the venal insurance salesman Walter Neff Fred McMurrayy) kiss passionately before the screen fades to black.
And by that, I don't just mean that we both have an affection for the final scene in "Double Indemnity," in which the wounded murderer and tragi-hero, Walter Fred McMurrayy), is confronted by his hardboiled boss, Keyes (Edward G. Robinson).
He was also effective in psychological drama, such as in Double Indemnity (1943), in which he fell victim to the wiles of Barbara Stanwyck, The Caine Mutiny (1954), in which he played a supercilious but weak-willed officer, and The Apartment (1960), in which he played a hypocritical businessman and womanizer.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com