indemnity
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English
Etymology
From Middle French indemnité, from Late Latin indemnitatem (“security for losses”), from Latin indemnis (“undamaged”), from in- (“not”) + damnum (“damage”).
Pronunciation
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Audio (US) (file)
Noun
indemnity (plural indemnities)
- (law) an obligation or duty upon an individual to incur the losses of another.
- repayment
- (law) the right of an injured party to shift the loss onto the party responsible for the loss.
- (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.
See also
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