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indemnity

Definition from Dictionary, a free dictionary
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English

Etymology

From Middle French indemnité, from Late Latin indemnitatem (security for losses), from [[w:Template:lang:la language|Template:lang:la]][[Category:Template:lang:la derivations]] indemnis (undamaged), from in- (not) + damnum (damage).

Pronunciation

Noun

Singular
indemnity

Plural
indemnities

indemnity (indemnities)
  1. (law) an obligation or duty upon an individual to incur the losses of another.
  2. repayment
  3. (law) the right of an injured party to shift the loss onto the party responsible for the loss.
  4. (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

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