This means that if something happens to the client or their property during the photography session or immediately surrounding events (which are things like the original consultation, the proofing and ordering session, etc.), you as the photographer are not held liable.
It’s all about having multiple layers of protection: business formation, insurance, contracts, etc. Then more layers with the actions you take and provisions your contract has, including indemnification.
It’s like an onion. (If you’ve ever seen Shrek, you know where I’m going with this.) Onions have multiple layers, just like ogres, and that’s essentially what’s going on here. It’ll take anyone a few ‘layers’ of legal action around that ogre that’s going to come after you.