Pronunciation: [ˌɪndˈɛmnɪti] (IPA) 
The word "indemnity" is spelled with a silent "n." Its IPA phonetic transcription is /ɪnˈdɛmnɪti/. The "in" at the beginning is pronounced like "in" in "inpatient." The "d" is pronounced like "d" in "day." The "e" is pronounced like "e" in "pet." The "mn" is pronounced like "mn" in "column." The "i" is pronounced like "i" in "bit." The "t" is pronounced like "t" in "test." The "y" is pronounced like "ee" in "see."
Indemnity is a legal and financial term that refers to the act of compensating or making up for a loss, damage, or injury suffered by an individual or entity. It is a form of protection or security against potential liabilities or risks. In this context, an indemnity agreement is a contract in which one party agrees to reimburse or compensate another party for any losses or damages that may occur.
In simplest terms, indemnity ensures that one party is held harmless and protected from any financial or legal consequences arising from specified events, actions, or situations. It operates as a form of insurance or guarantee, enabling individuals or entities to mitigate potential risks or liabilities.
Indemnity can be found in various sectors, such as insurance contracts, employment agreements, and commercial transactions. For instance, in insurance, an indemnity policy provides coverage for losses or damages incurred by the insured party. In employment, an employee may sign an indemnity agreement to protect the employer from any liabilities resulting from their actions performed within the scope of their employment.
The purpose of indemnity is to restore the affected party to the position they were in before the loss or damage occurred, without suffering any financial detriment. It ensures financial security and promotes trust between parties involved in a transaction or agreement.
Overall, indemnity serves as a safeguard against potential losses, damages, or legal consequences, giving individuals or entities the necessary protection and peace of mind.
A security or pledge by which a person is secured against loss or punishment; compensation.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word indemnity has its origins in the Latin term indemnitas, which comes from the combination of in- (not) and damnum (damage). In Latin, indemnitas referred to the state of being free from damage or loss. This Latin term entered late Middle English as indempnite, and eventually evolved into the modern English word indemnity.
