Term of the Day: Indemnity

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	INVESTOPEDIA Term Of The Day November 21, 2015 Indemnity Indemnity is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability for damages. The concept of indemnity is based on a contractual agreement made between two parties, in which one party agrees to pay for potential losses or damages caused by the other party. A typical example is an insurance contract, whereby one party (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. In Canada, indemnity refers to the salary received by a member of Parliament or a legislature. Breaking It Down: An indemnity clause is standard in most insurance agreements, and exactly what is covered and to what extent... Read More Related to "Indemnity" Insurance Insurance is a form of contract between an individual and an insurance company that spreads risk in exchange for... Read More Understanding Your Insurance Contract Almost all of us have insurance. When your insurer gives you the policy document, generally, all you do is glance over the... Read More Understand Permanent Life Insurance Illustrations Selecting a permanent life insurance policy can be confusing. Insurers offer a wide variety of life insurance policies including whole... Read More Recently Added Definitions Purchasing Power Purchasing power is the value of a currency expressed in terms of the amount of goods or services that one unit of... Read More Supply Supply is a fundamental economic concept that describes the total amount of a specific good or service that is... Read More Related Definitions Indemnity Insurance Employee Stock Option - ESO Mass Merchandising Reinsurance Assisted Placement Franchise Cover Past Terms of the Day Discount Bond Conglomerate Brand Identity Yield To Maturity (YTM) Weighted Average Cost Of Capital - WACC You are currently subscribed as: mondemand.forex@blogger.com Unsubscribe | Manage Subscriptions Investopedia US, A Division of IAC. Copyright © 2015, Investopedia, LLC. All Rights Reserved Follow Us: