indemnity

indemnity
indemnity in‧dem‧ni‧ty [ɪnˈdemnti] noun indemnities PLURALFORM
1. [uncountable] INSURANCE protection against loss or damage, especially in the form of an official written promise to pay for any losses or damage:

• Every full-time employee at our firm receives a policy that gives indemnity against accidental death.

ˌdouble inˈdemnity [uncountable] INSURANCE
life insurance or personal accident insurance where the amount paid out is twice the normal amount if the insured person dies or is injured in certain types of accident, for example a road accident
2. [countable] a payment for the loss of money, goods etc:

• Workers who are fired will get an indemnity equal to a month's salary for each year worked.

* * *

indemnity UK US /ɪnˈdemnəti/ noun [C or U] (plural indemnities)
► INSURANCE protection against possible damage or loss, or the money paid if there is damage or loss: indemnity for/against sth »

The policy provides an indemnity for loss of or damage to third-party property.

 provide/offer (an) indemnity »

This insurance provides indemnity against legal costs and damages.

 »

Creditors must give an indemnity to cover the costs of a potential claim.

 »

professional indemnity insurance

► LAW protection against having legal responsibility for something: indemnity against sth »

The doctors were given an indemnity against prosecution for performing abortions.

► GOVERNMENT a sum of money that is paid to someone for a loss, especially by one country to another country
→ See also DOUBLE INDEMNITY(Cf. ↑double indemnity), LETTER OF INDEMNITY(Cf. ↑letter of indemnity)

Financial and business terms. 2012.

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Look at other dictionaries:

  • indemnity — in·dem·ni·ty /in dem nə tē/ n pl ties 1 a: security against hurt, loss, or damage b: exemption from incurred penalties or liabilities 2 a: indemnification (1) b: something (as a payme …   Law dictionary

  • Indemnity — In*dem ni*ty, n.; pl. {Indemnities}. [L. indemnitas, fr. indemnis uninjured: cf. F. indemnit[ e]. See {Indemnify}.] [1913 Webster] 1. Security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of …   The Collaborative International Dictionary of English

  • indemnity — The act of one party protecting or guaranteeing protection, or freedom from liability, of a third party for actions of that party. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • indemnity — (n.) mid 15c., from M.Fr. indemnité (14c.), from L.L. indemnitatem (nom. indemnitas) security for damage, from L. indemnis unhurt, undamaged, from in not, opposite of, without (see IN (Cf. in ) (1)) + damnum damage (see DAMN (Cf …   Etymology dictionary

  • indemnity — *reparation, redress, amends, restitution …   New Dictionary of Synonyms

  • indemnity — ► NOUN (pl. indemnities) 1) security or protection against a loss or other financial burden. 2) security against or exemption from legal responsibility for one s actions. 3) a sum of money paid as compensation, especially by a country defeated in …   English terms dictionary

  • indemnity — [in dem′ni tē] n. pl. indemnities [Fr indemnité < LL indemnitas < L indemnis: see INDEMNIFY] 1. protection or insurance against loss, damage, etc. 2. legal exemption from penalties or liabilities incurred by one s actions 3. repayment or… …   English World dictionary

  • Indemnity — An indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party (B). Forms of indemnity include cash payments …   Wikipedia

  • indemnity — [[t]ɪnde̱mnɪti[/t]] indemnities 1) N UNCOUNT If something provides indemnity, it provides insurance or protection against damage or loss. [FORMAL] They were charged with failing to have professional indemnity cover... Political exiles had not… …   English dictionary

  • Indemnity — Compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability for damages. The concept of indemnity is based on a contractual agreement made between two parties, in which one party agrees to pay for… …   Investment dictionary

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