Indemnified Losses refer to the losses the Indemnified Party can claim under the indemnity. - Here are a couple of examples of common losses that can be claimed under an indemnity- paying for judgment finally awarded paying for settlements legal fees and costs (reasonably incurred) legal fees and cost fines penalties expenses - It is important to be as specific as possible here and make sure you are clear on the Indemnified Losses. - When acting for the party being indemnified, you want to include as many possible losses and damages which can be claimed under the indemnity to ensure maximum protection on the happening of an Indemnified Event. Furthermore, you also want to be clear that the indemnified losses will not be limited to the extent that such losses were foreseeable or not. - When acting for the party providing the indemnity, you need to aim for the opposite and make the Indemnified Losses as specific and narrow as possible.