Definition of Indemnity
Indemnity
in·dem·ni·ty
Definition/Meaning
(noun)
a promise or protection of one's assets, where one pays for the cost of possible damage, loss, or injury;
e.g. She had an indemnity to cover the losses incurred by the fire.
(noun)
exempt from liabilities or penalties;
e.g. Her indemnity prevented them from suing her for the car crash.
(noun)
as a fee-for-service - often attributive, such as with a paid plan;
e.g. She had an indemnity plan against house thefts.
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