Definition, Meaning & Synonyms
indemnity
Noun
/ɪnˈdɛmnɪti/
Definition
Indemnity refers to a compensation or security against loss or damage.
Examples
- The insurance policy provided an indemnity against fire damage.
- After the lawsuit, he received an indemnity for the expenses incurred.
Meaning
It is the principle of providing a form of protection, usually financial, to cover potential losses faced by an individual or entity.
Synonyms
- compensation
- reimbursement
- security
- protection
