Theo Abrams
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25 Feb 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...
INDEMNITY definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.
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.
The meaning of INDEMNITY is security against hurt, loss, or damage. How to use indemnity in a sentence.
26 Feb 2024 · Indemnity insurance is an agreement wherein one party guarantees compensation for losses or damages incurred by another.
indemnity for/against sth The policy provides an indemnity for loss of or damage to third-party property. provide/offer (an) indemnity This insurance provides indemnity against legal costs and damages .
Indemnity is commonly used in legal contracts to secure protection against being sued or being held responsible for an accident. It’s often seen in the phrase indemnity clause. The verb form of indemnity is indemnify, which means to provide such protection or security, typically in the form of insurance.
9 Jun 2023 · Indemnity is compensation or payment for losses or damages as part of a contractual agreement or insurance policy between two parties—the insurer and the insured—in return for premium payments.
[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
Protection provided against any potential harm, loss, or damage. An exemption that prevents a person from suffering legal consequences or liabilities. A specific form of compensation that offers protection or reimbursement.
