indemnity

/ɪnˈdɛmnɪti/

legal protection against losses or damages

The insurance policy provides indemnity for accidental damage.

The insurance policy compensates for accidental damage.

Law

formal

A legal agreement or clause that compensates for losses, damages, or liabilities incurred by a party.

The contract includes an indemnity clause to protect against third-party claims.

The contract has a clause that ensures compensation if third parties make claims.

Common in insurance, contracts, and legal agreements.

Finance

formal

The act of compensating someone for harm or loss, often through insurance or legal means.

The company sought indemnity from the supplier for defective products.

The company asked the supplier to compensate them for faulty products.

Used in financial and business contexts.

Collocations

indemnity clausea contractual provision for compensationseek indemnityto request compensation for losses

to protect someone from legal liability

Indemnity often appears in contracts to outline compensation terms.

Indemnity clauses must clearly define the scope of compensation.

From Latin 'indemnitas', meaning 'freedom from damage' or 'compensation'.

Primarily used in legal and financial contexts to describe compensation agreements.

in-

not

prefix

demnity

damage or harm

root

English Dictionary