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Longman Dictionary of Contemporary English

indemnity

noun
COLLOCATIONS FROM OTHER ENTRIES
double indemnity
COLLOCATIONS FROM CORPUS
■ ADJECTIVE
professional
▪ It works in conjunction with existing professional indemnity insurance and enables estates to be wound up without delay.
▪ All firms were enabled, from September 1992, to pay annual professional indemnity contributions in instalments.
▪ However small a member's practising income, certificate and professional indemnity insurance will still be needed.
▪ Even if you only work for a few hours a week, take out professional indemnity insurance.
▪ To the extent that professional indemnity insurance is known to be available there is, in fact, an encouragement to litigate.
▪ So make sure that you maintain a professional indemnity insurance policy for any work that you may intend to do!
▪ The amounts involved are often huge, well above any amount that would be covered by professional indemnity insurance.
▪ Consumerism has led to high expectations and increased litigation, which in turn has led to increasingly expensive professional indemnity insurance.
■ NOUN
basis
▪ Because the indemnity basis may produce unfair results in certain cases.
▪ But the defendants insist that the result of an indemnity basis taxation does not correspond with their contractual rights.
▪ Contrary to the Purchaser's earlier argument therefore the indemnity basis does not simplify matters; it brings an additional complication.
▪ Both the standard basis and the indemnity basis of taxation under rule 12 are based on concepts of reasonableness or unreasonableness.
insurance
▪ It works in conjunction with existing professional indemnity insurance and enables estates to be wound up without delay.
Insurance group Sun Alliance was clouded by a £466m loss on the back of its exposure to mortgage indemnity insurance.
▪ However small a member's practising income, certificate and professional indemnity insurance will still be needed.
▪ Even if you only work for a few hours a week, take out professional indemnity insurance.
▪ To the extent that professional indemnity insurance is known to be available there is, in fact, an encouragement to litigate.
▪ It is engaged in internecine warfare over the general provision of indemnity insurance for investors.
▪ So make sure that you maintain a professional indemnity insurance policy for any work that you may intend to do!
▪ The amounts involved are often huge, well above any amount that would be covered by professional indemnity insurance.
mortgage
▪ It had to meet huge mortgage indemnity insurance claims from lenders of repossessed homes now worth less than was lent on them.
■ VERB
give
▪ I was also given an indemnity form, which I duly completed and returned.
provide
▪ In any case the education authority should provide you with an indemnity form for each student on Work Experience.
EXAMPLES FROM CORPUS
▪ But his group also faces the threat of liquidation proceedings over a A$150million disputed indemnity agreement.
▪ In particular, it is acknowledged that a de minimis level for warranties and indemnities will be included.
▪ Only motor trade, legal expenses and professional indemnity covers are not available.
▪ The indemnity is, of course, only as good as the vendor and, if appropriate, its guarantor.
▪ The DoE tell me in a letter that they are free from indemnity.
▪ The practical distinction between warranties and indemnities is provided in section 0704.3 below.
▪ The vendor would then need to recover against the purchaser pursuant to provisions, including indemnities, incorporated in the standard sale agreement.
▪ This is a policy of indemnity and we do not pay damages for such items.
The Collaborative International Dictionary

Indemnity

Indemnity \In*dem"ni*ty\, n.; pl. Indemnities. [L. indemnitas, fr. indemnis uninjured: cf. F. indemnit['e]. See Indemnify.]

  1. Security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty.

    Having first obtained a promise of indemnity for the riot they had committed.
    --Sir W. Scott.

  2. Indemnification, compensation, or remuneration for loss, damage, or injury sustained.

    They were told to expect, upon the fall of Walpole, a large and lucrative indemnity for their pretended wrongs.
    --Ld. Mahon.

    Note: Insurance is a contract of indemnity.
    --Arnould. The owner of private property taken for public use is entitled to compensation or indemnity.
    --Kent.

    Act of indemnity (Law), an act or law passed in order to relieve persons, especially in an official station, from some penalty to which they are liable in consequence of acting illegally, or, in case of ministers, in consequence of exceeding the limits of their strict constitutional powers. These acts also sometimes provide compensation for losses or damage, either incurred in the service of the government, or resulting from some public measure.

Wikipedia

Indemnity

An indemnity is an obligation by a person (indemnitor) to provide compensation for a particular loss suffered by another person (indemnitee).

Indemnities form the basis of many insurance contracts; for example, a car owner may purchase different kinds of insurance as an indemnity for various kinds of loss arising from operation of the car, such as damage to the car itself, or medical expenses following an accident. In an agency context, a principal may be obligated to indemnify their agent for liabilities incurred while carrying out responsibilities under the relationship. While the events giving rise to an indemnity may be specified by contract, the actions that must be taken to compensate the injured party are largely unpredictable, and the maximum compensation is often expressly limited.

Wiktionary

indemnity

n. 1 (context legal English) An obligation or duty upon an individual to incur the losses of another. 2 repayment. 3 (context legal English) The right of an injured party to shift the loss onto the party responsible for the loss. 4 (cx insurance English) A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.

Douglas Harper's Etymology Dictionary

indemnity

mid-15c., from Middle French indemnité (14c.), from Late Latin indemnitatem (nominative indemnitas) "security for damage," from Latin indemnis "unhurt, undamaged," from in- "not, opposite of, without" (see in- (1)) + damnum "damage" (see damn).

WordNet

indemnity

  1. n. protection against future loss [syn: insurance]

  2. legal exemption from liability for damages

  3. a sum of money paid in compensation for loss or injury [syn: damages, amends, indemnification, restitution, redress]

Usage examples of "indemnity".

Her husband, who was a millowner, railed at the clumsy fellow, and while she was with her handkerchief wiping up the stains from her handsome cherry-coloured taffeta gown, he angrily muttered about indemnity, costs, reimbursement.

Graaff charged that the Netherlands had more to complain of in British conduct than the other way around, and reminded the committee that two Dutch merchant ships had been seized for alleged contraband and should be released with their cargoes and indemnity paid for costs and damages.

There Sir Bindon Blood received the submission of the Utman Khels, who brought in the weapons demanded from them, and paid a fine as an indemnity for attacking the Malakand and Chakdara.

But you, Gaius Marius, are also empowered to choose deputies from among the members of this House who do not sit as consuls or praetors, and provided these deputies act under your instructions, this commission together with its indemnity is also extended to them.

James B, Infant, acting through his curator bonis and guardian ad litem, filed an action as owner and bailor of the chattel, a dog of tender years named Spot, alleging negligence on the part of the Village, in a cross claim for indemnity under Fed.

It is the wish of this great king that you and I should smoke the calumet of peace together, provided that you promise, in the name of the Mohawks, Oneidas, Onondagas, Cayugas, and Senecas, to give entire satisfaction and indemnity to his subjects, and do nothing in future which may occasion rupture.

The English demand for more than a mil­ lion francs in arrears on Jean’s ransom was met by the French claim for an indemnity of three million for war damages on their soil.

Had not your confiscators, by their early crimes, obtained a power which secures indemnity to all the crimes of which they have since been guilty or that they can commit, it is not the syllogism of the logician, but the lash of the executioner, that would have refuted a sophistry which becomes an accomplice of theft and murder.

By midnight a treaty was signed, guaranteeing peace between the three countries, an indemnity to be paid in foodstuffs and magical foreign aid to help the stricken Frostingdungians through the winter and spring planting, and an alliance between Argonia and Ablemarle.

The senate was permitted to discharge the ungrateful office of punishment, and the emperor reserved for himself the pleasure and merit of obtaining by his intercession a general act of indemnity.

But as the late Act of Indemnity had laid asleep the quarrel itself, so the Government had recommended family and personal peace upon all occasions to the whole nation.

I moved back to England some two months ago, when the house was restored to me under the terms of the Act of Indemnity and Oblivion.

But we shall not be disavowed by the nation, and their act of indemnity will confirm &amp.

They added a crushing indemnity of five billion francs intended to hobble France for a generation, and lodged an army of occupation until it should be paid.

But that gods-cursed thing has a double indemnity clause, for value and shipping fee.