Indemnity: What It Means in Insurance and the Law - Investopedia
WebFeb 25, 2024 · Indemnity is a comprehensive form of insurance compensation for damage or loss. When the term indemnity is used in the legal sense, it may also refer to an exemption from...
Indemnity Definition & Meaning - Merriam-Webster
WebThe meaning of INDEMNITY is security against hurt, loss, or damage. How to use indemnity in a sentence. security against hurt, loss, or damage; exemption from incurred …
What is indemnity and why is it important | LegalZoom
WebFeb 2, 2024 · What is indemnity and why is it important. Indemnity is an important element of contracts because it is designed to punish a party who breaches the contract. Learn about the different types of indemnity and why they're essential.
What Is Indemnity Insurance? How It Works and Examples - Investopedia
WebFeb 26, 2024 · Indemnity insurance is a type of insurance policy where the insurance company guarantees compensation for losses or damages sustained by a policyholder. Indemnity insurance is designed to...
Indemnity - Wikipedia
WebIndemnity. In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party.
INDEMNITY | English meaning - Cambridge Dictionary
WebINDEMNITY definition: 1. protection against possible damage or loss, especially a promise of payment, or the money paid…. Learn more.
INDEMNITY Definition & Meaning | Dictionary.com
WebIndemnity is protection or security against damage or loss, or compensation for damages or money spent. Insurance coverage provides indemnity to a person (or organization) by …
indemnity | Wex | US Law | LII / Legal Information Institute
WebIndemnity is a type of insurance that covers a wide range of damages and losses. In the indemnity clause, one party commits to compensate another party for any prospective loss or damage. More common is in insurance contracts, in exchange for premiums paid by the insured to the insurer, the insurer offers to compensate the insured for any ...
indemnity Definition, Meaning & Usage | Justia Legal Dictionary
WebDefinitions of "indemnity" 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. How to use "indemnity" in a sentence.
Indemnity Definition & Meaning | Britannica Dictionary
Web1. [noncount] : a promise to pay for the cost of possible damage, loss, or injury. an agreement providing indemnity against prosecution/loss. — often used before another noun. an indemnity plan/agreement. 2. [count] : a payment made to someone because of damage, loss, or injury. has paid $2 million in indemnities.
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