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- Dictionaryindemnity/ɪnˈdɛmnɪti/
noun
- 1. security or protection against a loss or other financial burden: "no indemnity will be given for loss of cash" Similar
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Feb 1, 2023 · According to the definition given by Halsbury, the term “indemnity” is a contract that expressly or impliedly protects a person who entered into a contract or is about to enter from any losses, irrespective of the fact that those losses were due to the actions of a third party.
INDEMNITY definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.
Feb 25, 2024 · Indemnity is a comprehensive form of insurance compensation for damage or loss. In an indemnity arrangement, one party agrees to pay for potential losses or damage caused by another...
1. a. : security against hurt, loss, or damage. b. : exemption from incurred penalties or liabilities. 2. a. : indemnification sense 1. b. : something that indemnifies. 3. : fee-for-service usually used attributively. an indemnity plan. Synonyms. compensation. damages. indemnification. quittance. recompense. recoupment.
Indemnity is protection against loss or harm — it is most often used in insurance. If you suffer an injury or there's damage to your house, an indemnity makes up for the loss — if it's part of your insurance. An indemnity may also keep something or someone from being held responsible for harm.
indemnity in British English. (ɪnˈdɛmnɪtɪ ) noun Word forms: plural -ties. 1. compensation for loss or damage; reimbursement. 2. protection or insurance against future loss or damage. 3. legal exemption from penalties or liabilities incurred through one's acts or defaults.
indemnity. noun [ C or U ] finance & economics, law formal or specialized us / ɪnˈdem.nə.t̬i / uk / ɪnˈdem.nə.ti / Add to word list. protection against possible damage or loss, especially a promise of payment, or the money paid if there is such damage or loss. SMART Vocabulary: related words and phrases. Insurance. actuarial. assessor. assurance.
noun. /ɪnˈdemnəti/ (plural indemnities) (formal or law) [uncountable] indemnity (against something) protection against damage or loss, especially in the form of a promise to pay for any damage or loss that happens. an indemnity clause/fund/policy. indemnity insurance. Definitions on the go.
n. pl. in·dem·ni·ties. 1. Security against damage, loss, or injury. 2. An exemption from liability for damages resulting from specified conduct, as in a contract indemnifying a party for the performance of certain actions. 3. Compensation for damage, loss, or injury suffered.
noun. compensation for loss or damage; reimbursement. protection or insurance against future loss or damage. legal exemption from penalties or liabilities incurred through one's acts or defaults. (in Canada) the salary paid to a member of Parliament or of a legislature. act of indemnity.