Understanding the Meaning of Indemnity in English

What is Indemnity?

Indemnity is a term that is often used in legal and insurance contexts. It refers to security or protection against hurt, loss, or damage. In simple terms, indemnity provides compensation for any harm or loss that may occur.

How to Use Indemnity in a Sentence

Using the word indemnity in a sentence is fairly straightforward. For example, you could say, "The insurance policy provides indemnity for any damages caused by the accident." This means that the policy will cover the costs of any harm or loss resulting from the accident.

Synonyms for Indemnity

There are several synonyms for the word indemnity, including compensation, reimbursement, restitution, and reparation. These terms all convey the idea of providing financial or other forms of compensation for harm or loss.

Examples of Indemnity in a Sentence

Here are a few examples of how indemnity can be used in sentences:

• The company offered indemnity to the affected customers for the faulty product.
• The contract included an indemnity clause to protect the parties from any potential legal liabilities.
• The insurance policy provides indemnity for medical expenses incurred during the treatment.

Word History of Indemnity

The word indemnity derives from the Latin word "indemnis," which means "unharmed" or "without loss." It entered the English language in the late 15th century, initially used in legal and contractual contexts.

Phrases Containing Indemnity

There are several common phrases that contain the word indemnity:

• Indemnity agreement
• Indemnity insurance
• Indemnity clause
• Indemnity bond
• Indemnity payment

Dictionary Entries Near Indemnity

When looking up the word indemnity in a dictionary, you may come across related entries, such as:

• Indemnify
• Indemnification
• Indemnitor
• Indemnifiable
• Indemnitude

Medical Definition of Indemnity

In the medical field, indemnity refers to compensation provided to healthcare professionals for any harm or injury caused to patients as a result of their treatment. Medical indemnity insurance is a type of coverage that protects healthcare providers from financial losses due to such claims.

Legal Definition of Indemnity

In a legal context, indemnity is a contractual agreement in which one party agrees to compensate the other party for any harm, loss, or damage incurred. This type of agreement is often included in contracts to allocate liability and protect parties from potential legal risks.

More from Merriam-Webster on Indemnity

Merriam-Webster, a renowned dictionary publisher, provides additional resources and information on the topic of indemnity. You can visit their website for more detailed definitions, examples, and usage tips.

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What is Indemnify?

Indemnify is a verb that means to secure against hurt, loss, or damage. It is often used in legal and insurance contexts, similar to the noun form indemnity. Indemnify can be used in sentences like, "The insurance company will indemnify the policyholder for any damages." This means that the insurance company will provide compensation or financial coverage for any harm or loss experienced by the policyholder.

Synonyms for Indemnify

Some synonyms for the verb indemnify include compensate, reimburse, repay, and remunerate. These words convey the idea of providing financial or other forms of compensation for harm, loss, or damage.

Examples of Indemnify in a Sentence

Here are a few examples of how indemnify can be used in sentences:

• The company agreed to indemnify the customer for the defective product.
• The insurance policy will indemnify the policyholder for any damages caused by the accident.
• The contract includes a clause that indemnifies the contractor against any legal liabilities.

Word History of Indemnify

The word indemnify also has Latin roots, deriving from the word "indemnificare," which means "to make financially secure." It entered the English language in the 16th century and has since been widely used in legal and contractual contexts.

Articles Related to Indemnify

Explore articles related to the topic of indemnify to gain a deeper understanding of its usage, implications, and legal significance. These resources can provide valuable insights into the world of indemnification.

Dictionary Entries Near Indemnify

When researching the word indemnify in a dictionary, you may come across related entries, such as:

• Indemnification
• Indemnifiable
• Indemnification clause
• Indemnifier
• Indemnifying party

Indemnity - Wikipedia

Wikipedia offers a comprehensive overview of indemnity, covering various aspects such as English common law, United States contracts, insurance, historical examples, and more. This resource can provide a deeper understanding of the topic.

Indemnity Clauses

Indemnity clauses are contractual provisions that allocate responsibility and liability between parties. They outline the extent to which one party agrees to compensate the other for any harm, loss, or damage that may occur.

Contract Award

Contract award refers to the process of selecting a party or entity to perform a specific task or provide a service. Indemnity clauses are often included in contract awards to protect both parties from potential legal risks.

Distinction from Guarantees

Guarantees and indemnity are often used interchangeably, but they have distinct meanings. A guarantee is a promise to fulfill a specific obligation, while indemnity provides compensation for harm, loss, or damage that may occur.

Distinction from Warranties

Warranties and indemnity are both types of contractual provisions, but they serve different purposes. A warranty is a promise that a product or service will meet certain standards, while indemnity provides compensation for any harm, loss, or damage resulting from the use of the product or service.

State Variations

Indemnity laws can vary from state to state, so it's important to understand the specific regulations and requirements in your jurisdiction. Familiarize yourself with the indemnity laws applicable to your location to ensure compliance and mitigate potential legal risks.

With Negotiations

When negotiating contracts, parties often include indemnity clauses to protect themselves from potential harm, loss, or damage. These clauses outline the extent to which one party agrees to compensate the other for any liabilities that may arise during the course of the contract.

Without Negotiations

In some cases, indemnity clauses may be included in contracts without extensive negotiations. This can occur when one party has significantly more bargaining power or when the contract template already includes standard indemnity provisions.

Freeing of Slaves and Indentured Servants

Throughout history, indemnity has been used in various contexts, including the freeing of slaves and indentured servants. In some cases, compensation was provided to individuals who had been enslaved or bound by indentured servitude as a form of reparation or restitution.

Costs of War

Indemnity has also played a role in the aftermath of wars. After a conflict, the victorious party may demand financial compensation or reparations from the defeated party as a form of indemnity for the costs incurred during the war.

What is Indemnity in Insurance?

In the insurance industry, indemnity refers to compensation provided to policyholders for covered losses or damages. When an insured event occurs, the insurance company will indemnify the policyholder by paying for the costs associated with the loss or damage.

What is the Purpose of Indemnity?

The purpose of indemnity in legal and insurance contexts is to protect parties from financial harm or loss. By providing compensation for damages or liabilities, indemnity helps ensure that individuals and organizations are not left with significant financial burdens.

What Is the Rule of Indemnity in Insurance?

The rule of indemnity in insurance states that policyholders should not profit from their insurance coverage. The purpose of insurance is to restore individuals or organizations to the same financial position they were in before the loss or damage occurred, rather than providing an opportunity for financial gain.

The Bottom Line

Understanding the meaning of indemnity in English is crucial for navigating legal and insurance contexts. Whether you're entering into a contract, seeking insurance coverage, or exploring legal concepts, familiarity with indemnity can help protect your interests and mitigate potential risks.