noun a sum of money paid as compensation, especially a sum exacted by a victor in war as reparation from the vanquished
In legal contexts, indemnity refers to a promise to compensate for any harm or loss, often included in contracts or agreements.
Indemnity bonds are financial instruments that guarantee compensation for losses or damages.
Businesses may seek indemnity clauses in contracts to protect themselves from potential legal claims or liabilities.
Indemnity health insurance plans allow policyholders to choose their healthcare providers and reimburse a portion of the costs incurred.
Indemnity is a type of insurance coverage that protects the policyholder from financial losses or liabilities.
In the publishing industry, writers may be required to sign an indemnity clause in their contracts to protect the publisher from any legal claims arising from the content of the work.
Psychologists may need to carry professional indemnity insurance to protect themselves in case a client files a lawsuit claiming negligence or malpractice.
Doctors are often required to have medical indemnity insurance to cover any claims of medical malpractice or negligence in their practice.
Financial advisors may include indemnity clauses in their client agreements to limit their liability in case of financial loss resulting from their advice.