Immunity: A provision in the law which shields a person or organization from legal obligations.

Improper sexual conduct coverage: Coverage that protects an organization against claims alleging improper sexual conduct.

Indemnify: To compensate for actual losses sustained.

Indemnity plans: An insurance policy in which beneficiaries are allowed total freedom to choose their health care providers. Those providers are reimbursed a set fee each time they deliver a service. Reimbursement is usually limited to a percentage of customary and reasonable charges (which may be less than the billed amount). Also see fee-for-service.

Individual health insurance: Health services contract or insurance policy which is purchased by an individual and which covers the individual (and usually the person's dependents) in contrast to group insurance.

Inland marine coverage: Also known as a floater endorsement. Insure special items such as computers, light and sound equipment and camera equipment at an upon agreed amount.

Insurance: Traditional risk-financing tool used to transfer the financial hazard of risk. An insurance policy spells out what is or is not covered caused by all or specific perils (causes of damage or injury). Insurance is also a contract whereby an organization agrees to indemnify another and/or to pay a specified amount for covered losses in exchange for a premium. For many nonprofits, insurance provides the funds to pay for the nonprofit's unexpected losses of people, property and income, while ultimately keeping the organization in operation.

Insuring: agreement Part of every insurance policy; specifies what the insurance company has agreed to pay for or to provide in exchange for the premium.