§ 38a-319 — (Formerly Sec. 38-31). Agreement of indemnification for injury from future accident to constitute contract.

Any agreement in any form, which in effect provides for the indemnification of one person by another for injurious results to property from a future accident or other contingency, shall, to the extent of such provision for indemnification, constitute a contract of insurance within the meaning of the statutes concerning insurance, whether such indemnification is agreed to be by means of a money payment or by means of repair to or replacement of the property injured or any part thereof or by means of any work to be done upon such property; but the provisions of this section shall not apply to an agreement of any seller with a purchaser, guaranteeing workmanship and materials in connection with the sale of such property.

Legislative History

(1949 Rev., S. 6090.) History: Sec. 38-31 transferred to Sec. 38a-319 in 1991.