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The Complete Vocabulary Builder Workbook by BETTER WORDS R. B. Skinner
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Add 3,700 must-know words to your vocabulary.

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indemnity

IPA:

How to pronounce indemnity (audio)

Dictionary definition of indemnity

Financial protection or compensation against a loss or damage caused by a specific event.
"The insurance policy provided indemnity for the loss of the client's property."

Detailed meaning of indemnity

An indemnity agreement is a legal contract between two parties in which one party agrees to compensate the other for any losses or damages that may occur due to specified events or circumstances. The indemnity payment may be in the form of cash or other forms of payment, such as property or services. Indemnity is commonly used in insurance policies, where the insurer provides financial protection to the policyholder in the event of a covered loss or damage.

Example sentences containing indemnity

1. The company provided an indemnity against any potential damages caused by their product.
2. He demanded an indemnity from the car rental company after his vehicle was stolen.
3. The contract included an indemnity clause to protect both parties from legal liabilities.
4. She signed an indemnity agreement before participating in the dangerous activity.
5. The victim was awarded an indemnity payment for the injuries sustained in the accident.
6. The government offered indemnity to whistleblowers for reporting corruption.

History and etymology of indemnity

The noun 'indemnity' has its etymological roots in Latin. It is derived from the Latin word 'indemnitas,' which is composed of 'in' (meaning 'not') and 'damnus' (meaning 'loss' or 'damage'). In its original Latin form, 'indemnitas' conveyed the idea of being free from loss or damage. Over time, this term evolved and made its way into English as 'indemnity,' specifically referring to financial protection or compensation provided to mitigate or cover losses or damages caused by a particular event. The etymology of 'indemnity' effectively underscores its historical association with the concept of safeguarding against harm or loss through financial means, emphasizing its role as a term used to describe protection or compensation against potential liabilities or risks.

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Further usage examples of indemnity

1. The company's indemnity policy covered any errors made by their employees.
2. The contractor was required to provide indemnity insurance before starting the construction project.
3. The patient had to sign an indemnity form before undergoing the experimental treatment.
4. The seller provided an indemnity to the buyer against any claims made by third parties.
5. The client demanded indemnity from the contractor for the breach of contract.
6. The insurance company provided a generous indemnity for the stolen jewelry.
7. The contract included an indemnity clause to protect both parties from any financial losses.
8. The employee signed an indemnity agreement to release the company from any liability in case of injury.
9. The settlement included a substantial indemnity to compensate for the damages caused by the faulty product.
10. The driver's insurance policy offered indemnity for any accidents caused on the road.
11. The company faced a lawsuit and had to pay a significant indemnity to the affected parties.
12. The patient received financial indemnity for the medical malpractice they had endured.
13. The builder offered an indemnity to cover any structural defects in the newly constructed house.
14. The airline provided an indemnity to passengers affected by the canceled flights.
15. The contract specified that any breach of confidentiality would result in a hefty indemnity payment.
16. The company purchased professional indemnity insurance to protect against lawsuits from dissatisfied clients.
17. The government provided an indemnity fund to compensate victims of natural disasters.
18. The landlord required a security deposit as indemnity against potential damages to the rental property.
19. The injured party sought legal action to obtain proper indemnity for their pain and suffering.
20. The athlete signed a contract with a comprehensive indemnity clause to protect them from any sports-related injuries.
21. The company's negligence resulted in a lawsuit and subsequent indemnity payout.
22. The manufacturer faced financial difficulties due to the high indemnity settlements resulting from defective products.
23. The indemnity offered by the travel insurance covered the traveler's medical expenses abroad.
24. The contract stipulated that the contractor would provide indemnity for any construction-related accidents.
25. The professional indemnity policy covered the lawyer's legal fees in case of a malpractice claim.

Utility and Advancement, Commitment and Responsibility, Compensation and Rewards, Conservation and Protection, Strategic Planning and Execution, Money and Finance

amends,redress,remuneration,reparation

payment,quittance,refund,reimbursement

compensation, liability, debt, obligation

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