Meaning of Indemnity

Indemnity

Language - English

Tamil Word - ஈட்டுறுதி

Protection or security against loss or damage; compensation for loss or damage. In the context of Tamil Nadu real estate, indemnity could refer to insurance coverage that protects property owners from financial losses due to events like fire, theft, or natural disasters. Example: The property owner purchased an indemnity insurance policy to protect against potential losses from floods or earthquakes. Indemnity can also refer to a contractual obligation where one party agrees to compensate another for any losses incurred. It is essential to understand the terms and conditions of any indemnity agreement before entering into it.