indemnity Definition
in·dem·nity (in dem′ni tē)
noun pl. -·ties
- protection or insurance against loss, damage, etc.
- legal exemption from penalties or liabilities incurred by one's actions
- repayment or reimbursement for loss, damage, etc.; compensation
Etymology: Fr indemnité < LL indemnitas < L indemnis: see indemnify
indemnity Synonyms
indemnity Law Definition
n
- A duty, typically arising from contract, in which one promises to make good anothers financial loss or liability, resulting from a particular event or contingency.
- The act of making good anothers financial loss or liability, resulting from the occurrence of a particular event or contingency.
- The injured partys right to claim payment from the party with the duty.
indemnity Usage Examples
Converse of object
- seek: The claim was settled and Bolton MBC sought an indemnity from insurers.
- grant: However, this provision deals only with the ability of the company to make a loan, not its ability to grant an indemnity.
- sign: The SRA is able to stop signing new indemnities whenever it chooses.
Preposition: against
liability: The policy provided an indemnity against liability in respect of physical damage.
Adjective modifier
- contractual: But the Court also stated that the provision for an indemnity would have created a contractual indemnity in any event.
- professional: Professional indemnity - protects against claims by a third party.
- adequate: Adequate professional indemnity and public liability insurance is considered obligatory.
- double: Double Indemnity An insurance agent and a client's wife plot to kill her husband.
Modifies a noun
- insurance: To pay for indemnity insurance for the Trustees 3.16.
- insurer: You pay a premium to a prize indemnity insurer, which funds the prize in the unlikely event that someone actually wins it.
- letter: General Power of Attorney, An indemnity Letter for General Power of Attorney.
- clause: However, many indemnity clauses try to extend the University's liability too widely therefore exposing the University to a very wide risk.
- guarantee: You'll very likely have to pay a mortgage indemnity guarantee policy.
- basis: PROPERTY CLAIMS These are settled on an indemnity basis - not on a " new " for old or replacement cost basis.
Noun used with modifier
- trustee: Pension trustee liability Indemnity to Trustees against negligent act, error or omission.
- mortgage: Some lenders do not charge mortgage indemnity fees or have higher or lower property value limits.
- NHS: NHS indemnity through the employing Trust will cover the GP period.
- liability: Pension trustee liability Indemnity to Trustees against negligent act, error or omission.
- auto: Auto Indemnity said " This is another step toward regulation in our market, which is something we welcome and are striving toward.
Preposition: in
respect: He said this: " The measure of damages is not, however, an indemnity in respect of Alpha's claim.
Browse dictionary entries near indemnity
- ‹ indemnify
- ‹ indemnification
- ‹ indelicate
- ‹ indelicacy
- ‹ indelible
- ‹ indehiscent
- ‹ indefinitely
- ‹ indefinite integral
- ‹ indefinite failure of issue
- ‹ indefinite
- indemonstrable ›
- indene ›
- indent ›
- indentation ›
- indented ›
- indention ›
- indenture ›
- indentured ›
- independence ›
- Independence Day ›

