indemnity

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English

Etymology

From Middle French indemnité, from Late Latin indemnitas (security from damage), from Latin indemnis (undamaged), from in- (not) + damnum (damage).

Pronunciation

  • (file)

Noun

indemnity (countable and uncountable, plural indemnities)

  1. Security from damage, loss, or penalty.
  2. (law) An obligation or duty upon an individual to incur the losses of another.
  3. Repayment; compensation for loss or injury.
  4. (law) The right of an injured party to shift the loss onto the party responsible for the loss.
  5. (insurance) A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.

Translations

See also