Hold Harmless Agreement

Published: | Updated: December 13, 2017

Definition - What does Hold Harmless Agreement mean?

A hold harmless agreement is a clause in a contract that relieves one party of any liability with the consent of a second party. The second party assumes the legal responsibility for damage or injury.

It is also known as the hold harmless provision or hold harmless clause

Insuranceopedia explains Hold Harmless Agreement

The hold harmless agreement is forged when one party asks another to perform a task that comes with some risk. A company might hire a contractor, for instance, and include a hold harmless provision in the contract that absolves them from responsibility for any damage or injury that arises from the contractor's work. In a broad hold harmless agreement, the contractor could even be held responsible for mistakes that would otherwise be attributed to the company.

How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.