Insurance vs. Indemnity

Insurancenoun

A means of indemnity against a future occurrence of an uncertain event.

Insurancenoun

The business of providing insurance.

Insurancenoun

Metaphoric: Any attempt to anticipate an unfavorable event.

Insurancenoun

Blackjack: A bet made after the deal, which pays off if the dealer has blackjack.

Insurancenoun

(countable) An insurance policy

Insurancenoun

The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee another against loss by certain specified risks. Cf. Assurance, n., 6.

Insurancenoun

The premium paid for insuring property or life.

Insurancenoun

The sum for which life or property is insured.

Insurancenoun

A guaranty, security, or pledge; assurance.

Insurancenoun

Any means of assuring against loss; a precaution; as, we always use our seat belts as insurance against injury.

Insurancenoun

promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company

Insurancenoun

written contract or certificate of insurance;

Insurancenoun

protection against future loss

Insurancenoun

an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium

Insurancenoun

the business of providing insurance

Insurancenoun

money paid for insurance

Insurancenoun

money paid out as compensation under an insurance policy

Insurancenoun

a thing providing protection against a possible eventuality

Insurance

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

Indemnitynoun

Security from damage, loss, or penalty.

Indemnitynoun

(legal) An obligation or duty upon an individual to incur the losses of another.

Indemnitynoun

Repayment; compensation for loss or injury.

Indemnitynoun

(legal) The right of an injured party to shift the loss onto the party responsible for the loss.

Indemnitynoun

(insurance) 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.

Indemnitynoun

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

Indemnitynoun

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

Indemnitynoun

protection against future loss

Indemnitynoun

legal exemption from liability for damages

Indemnitynoun

a sum of money paid in compensation for loss or injury

Indemnity

Indemnity is a contractual obligation of one party (indemnifier) to compensate the loss incurred to the other party (indemnity holder) due to the acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to or .