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definition of the word indemnity

by the Wiktionnary

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



indemnity (plural 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.

Definition from Wiktionary
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