Indemnity

Indemnity,

Definition of Indemnity:

  1. Security or protection against a loss or other financial burden.

  2. Undertaking given to compensate for (or to provide protection against) injury, loss, incurred penalties, or from a contingent liability. A shipping company, for example, will ask for a banks indemnity for releasing a shipment to a consignee who has lost original shipping documents. The bank in turn will require the consignee to sign a counter-indemnity before issuing its indemnity to the shipping company. This way the consignee gets the release of shipment in completion of a transaction, and both the shipping company and the bank are protected in case some dispute arises out of that transaction. See also letter of indemnity.

  3. Indemnity is a comprehensive form of insurance compensation for damages or loss, and in the legal sense, it may also refer to an exemption from liability for damages.

  4. Indemnity is considered to be a contractual agreement between two parties whereby one party agrees to pay for potential losses or damages caused by another party. A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the other (the insured or the indemnitee) for any damages or losses in return for premiums paid by the insured to the insurer. With indemnity, the insurer indemnifies the policyholder—that is, promises to make whole the individual or business for any covered loss.

Synonyms of Indemnity

Insurance, Assurance, Protection, Security, Indemnification, Surety, Endorsement, Guarantee, Warranty, Safeguard, Absolution, Amends, Amnesty, Assurance, Atonement, Award, Balancing, Blood money, Bond, Certification, Commutation, Compensation, Composition, Compromise, Consideration, Counteraction, Counterbalancing, Damages, Disbursement, Endorsement, Exculpation, Excuse, Exemption, Exoneration, Expiation, Expiatory offering, Grace, Guarantee, Guaranty, Guerdon, Honorarium, Immunity, Impunity, Indemnification, Insurance, Lex talionis, Making amends, Making good, Making right, Making up, Meed, Nolle prosequi, Non prosequitur, Nonprosecution, Offsetting, Pardon, Payment, Peace offering, Piaculum, Price, Privilege, Propitiation, Protection, Quid pro quo, Quittance, Reckoning, Reclamation, Recompense, Rectification, Redemption, Redress, Reimbursement, Remission, Remission of sin, Remuneration, Reparation, Repayment, Reprieve, Reprisal, Requital, Requitement, Restitution, Restoration, Retaliation, Retribution, Return, Revenge, Reward, Safety, Salvage, Satisfaction, Security, Shrift, Smart money, Solatium, Sparing, Squaring, Stay, Stocks and bonds, Substitution, Surety, Tie, Warrant, Warranty, Wergild

How to use Indemnity in a sentence?

  1. Since the new cars were coming in that afternoon, Arthur stopped by the bank to see what sort of indemnity could be arranged to protect the dealership completely.
  2. Due to the tricky nature of transporting the worlds most expensive diamond, indemnity was given to the truck company that was transporting the diamond because the truck route involved a very dangerous area of the country.
  3. The transport company asked for indemnity regarding shipping of a package to a customer who has lost the receipt documents.
  4. No indemnity will be given for loss of cash.

Meaning of Indemnity & Indemnity Definition

Indemnity,

What is Indemnity?

  • Indemnity can be defined as, Guarantee of compensation for any loss or damage already incurred by either party or guarantee of compensation for future loss or damage to the other party by agreement. The concept of compensation is based on an agreement between two parties in which one party (the compensating party) supports the payment of any possible loss or damage caused by the other party (the compensating party).

  • Compensation is the payment of a loss or damage due to a contract or insurance policy between both parties, the insurers and the insured against the payment of compensation.

  • Recover damaged parts by payment, repair or replacement.

  • Indemnity refers to Then when someone promises to pay for the loss or damage that has happened to someone else.

  • You can define Indemnity as, Amount to be paid to the other party after the loss.

  • The definition of Indemnity is: Basic Insurance Terms: Compensation for damages.

  • The definition of Indemnity is: An insurance policy that stipulates that, in the event of a catastrophe, the policyholder must return almost to the financial situation prior to the catastrophe, neither better nor worse.

  • This ensures that the insured does not lose money and is in the same financial condition as before the car broke down.

Meanings of Indemnity

  1. Security or protection from loss or other financial burden.

Sentences of Indemnity

  1. Money loss is not compensated

Synonyms of Indemnity

payment , compensation , damages , restitution , pay , repayment

Indemnity,

Indemnity:

Recovery of natural, natural or other entities that were in approximately the same economic position before the losses. Recovery may sometimes not be complete due to applicable deductions, joint insurance or other factors, but the principle of compensation does not allow the affected person to recover from the loss.

Indemnity means: A legal rule that states that the policyholder should not receive more than the actual cash value of the loss, but must return to the same financial condition almost before the loss.

Indemnity can be defined as, In case of a claim, take advantage of the default amount paid.

A simple definition of Indemnity is: Compensation for damages for the purpose of repaying the person or legal entity who estimated the loss before the loss.

You can define Indemnity as, Protection or protection against any loss or damage with compensation or compensation. In fact, it means going back to the same financial situation or situation as it was before the loss.

1. Compensation for damages through cash payments. 2. Agreement to recover damages from one party to another.

The principles on which all auto insurance agreements are based. According to this principle, the purpose of insurance is to restore the insurer's financial condition after the loss, which it was before the loss.

Indemnity,

What is Indemnity?

  1. The principle that the policyholder is kept in the same financial position after the claim event.

  2. Definition of Indemnity: The principle of compensation is to keep the insurance in the same financial condition after the claim. In other words, the insured does not get a new one for the old ones.

  3. The principle according to which the insurance is in the same financial condition after the claim.

  4. Definition of Indemnity: One of the five principles of general insurance. The insured should not take advantage of the claim, but should put himself in the same financial position as the patient before admission. Exceptions can be personal accident insurance, which has a fixed price per policy, as well as policies that replace the old company with new coverage, which can put the policyholder in a better position.

  5. Indemnity can be defined as, Compensation guarantees that after filing a claim you will return to the same financial condition as before the insured loss.

Indemnity,

What Does Indemnity Mean?

Indemnity
  1. Compensation under an insurance policy is a guarantee or coverage provided to protect you from loss, damage or injury. Legal compensation means that someone promises that you will not be prosecuted in the event of a particular incident or that you are protected by paying compensation in the event of an incident.

  2. The principle that a person who has suffered a loss returns (as far as possible) in the same economic condition in which the loss occurred immediately before, in which case the insurance contract is subject to the benefit limit (from losses to losses). May be more). Policy limit). Enforcing this principle is called compensation. Most insurance agreements are compensation agreements. Life insurance and personal accident insurance are not compensation agreements, as payments under these agreements in the event of death or personal injury are not based on the principle of compensation.

Indemnity,

Indemnity Definition:

  • Compensation for loss or damage to one of the parties or guaranteeing compensation to the other party for damages during the term of the agreement, through the terms of the agreement. The concept of compensation is based on an agreement between two parties in which one party (the person responsible for compensation) is responsible for paying for the loss or damage (compensation) caused by the other party.

  • Compensation is compensation or compensation for loss or damage against the payment of premiums between two parties, the insurer and the insured on the basis of a contractual agreement or insurance policy.

  • Repair, repair or replace the damaged part.

  • Indemnity refers to This is when someone promises to pay compensation or damages to someone else.

Meanings of Indemnity

  1. Protection or protection from loss or other financial burden.

Sentences of Indemnity

  1. Loss of money is not compensated.

Indemnity,

Indemnity Definition:

  • Compensation for any loss or damage caused by one of the parties, or through the terms of the agreement, to guarantee compensation to the other party for damages incurred during the term of the agreement. The concept of compensation is based on an agreement between two parties in which one of the parties (the person responsible for compensation) promises to pay for the loss or damage (compensation) caused by the other party.

  • Indemnity definition is: Recovery of the injured party through payment, repair or replacement.

  • It happens when a person promises to pay for the loss or damage he has inflicted on someone else.

  • The definition of Indemnity is: The amount paid to the other party after the loss.

Indemnity,

Definition of Indemnity:

  1. An insurance policy that states that in the event of a disaster, the policyholder must return to his or her financial position at the time of the disaster, neither better nor worse.

  2. This ensures that you do not lose money after an accident. So if your car breaks down, you're still in the same financial situation as he was.

  3. Indemnity means, Return the individual, entity or other entity to the same economic condition as before the loss. Recovery may sometimes be incomplete due to deductions, skin insurance or other applicable factors, but the principle of compensation does not allow the person or persons facing the loss to be better off after the loss.

  4. The legal rule is that the insured should not receive more than the current value of the actual loss, but it should be returned in almost the same financial condition as it was at the time of the loss.

  5. Loss compensation for the purpose of restoring a person's estimated financial condition prior to recovery or loss.

  6. You can define Indemnity as, Protection or protection and loss or damage due to compensation or compensation. From an actuarial point of view, this means returning to the same financial situation or condition as before the loss.

  7. 1. Compensation for losses through cash payment. 2. Agreement of one party to repair the damage caused to the other party.

  8. The principle on which all auto insurance agreements are based. According to this principle, the purpose of insurance is to restore the insured's financial condition after the loss he felt before the loss.

Indemnity,

What is The Meaning of Indemnity?

  1. The principle that policyholders are kept in the same financial position immediately after and after claims.

  2. Indemnity definition is: The principle is that, after a loss, policyholders are in the same financial position as they are immediately.

  3. One of the five principles of general insurance. The insured will not benefit from the claim, but will soon be in the financial position of the insured. Exceptions can be accident insurance, as it has a fixed price per policy, as well as policies that offer new coverage to replace the old ones, which can put the insured in a better position.

  4. Once you file a claim, compensation guarantees that you will return to the same financial status you had when you filed the claim.

Indemnity,

What is The Meaning of Indemnity?

Indemnity
  • Compensation under an insurance policy is a guarantee or coverage provided to protect you from loss, damage or injury. Legal compensation means that a person promises that he will not sue you if a special event occurs or promises to protect you by paying your damages if an event occurs.

  • The principle that a person who has suffered a loss (as far as possible) returns to the same financial condition as before the loss is subject to a possible contract limit on the sum insured (the loss may exceed the policy limit). ۔ Applying this principle is called compensation. Most insurance contracts are compensation agreements. Life insurance and personal accident insurance are not compensation agreements, as payments under these agreements in the event of death or personal injury are not based on the principle of compensation.