Part of Speech

Noun

Pronunciation

/ɪnˈdɛm.nɪ.ti/

Definitions

• The security or protection against a financial loss or damage.
• A payment or compensation made to cover a loss or damage that has occurred or may occur in the future.
• A legal exemption from the responsibility for a particular liability or loss.

Usage Examples

• The insurance company provided indemnity for the damages caused during the storm.
• He asked for an indemnity clause to be added to the contract to protect himself from any future lawsuits.
• The company offered full indemnity for any losses suffered by the affected customers.

Etymology

From the Latin word "indemnis," meaning "unhurt, free from damage," combined with the suffix "-ity," indicating a state or condition. The term evolved through Old French into Middle English, where it came to represent protection from harm or loss.

Synonyms

• Compensation
• Reimbursement
• Protection
• Security
• Reparation

Antonyms

• Liability
• Responsibility
• Debt
• Charge

Translations

Regional Pronunciation Variations

In some English-speaking regions, the word "indemnity" may be pronounced with varying stress on the syllables, while in others, the stress remains on the second syllable. For example, in American English, the pronunciation tends to emphasize the "dem" syllable more strongly.

Historical Usage

The term "indemnity" has been used since the 15th century, derived from the Latin word "indemnis" meaning "unhurt" or "free from damage." Initially used in the context of legal and financial agreements, the term has since expanded to include insurance contracts, where it refers to compensation for a loss or damage.

Cultural Nuances

In legal contexts, especially in the United States, indemnity clauses are often included in contracts to protect individuals or organizations from lawsuits. In some countries, indemnity is seen as a crucial aspect of risk management in business, while in others, the concept of indemnification may not be as widely used or recognized.

More Information

Indemnity plays a key role in the protection of individuals and organizations against unforeseen losses. It is frequently used in the context of insurance, where a policyholder is compensated for damages or losses incurred. It is also common in legal contracts, where one party agrees to compensate the other for any damages, costs, or liabilities that may arise from certain actions or events.