indemnification

Meanings

• Noun or Verb

  The act of indemnifying is to free a person from harm or obligation by paying compensation or reimbursement. This can be done by one party to another as a condition of a contract or agreement, or as a result of a legal action.

  - "The insurance company indemnified the policyholder for the damages caused by the storm."
  - "The defendant was indemnified by the plaintiff for the legal fees incurred during the lawsuit."

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Variants

List of all variants of indemnification that leads to same result
indemnification , indemnifications

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'indemnification' comes from the Latin word 'indemnus', meaning 'safe or free from harm'. It combines the prefix 'in-' (meaning 'not') and 'de' (meaning 'from') with 'demnus' (safe or free).

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Did you know that the first known use of the term 'indemnification' in English was in 1585?

2. Indemnification is also used in the context of environmental protection, where parties agree to protect each other from potential damages or liabilities related to environmental risks.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Insurance: Indemnification is a key concept in insurance, where the insurer agrees to compensate the policyholder for any losses or damages covered under the policy.

2. Contract Law: Indemnification clauses are common in contracts, where one party agrees to protect and compensate the other party for any losses or damages incurred during the course of the agreement.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Indemnification has been a significant concept in various forms of art and literature, often representing protection, security, and the transfer of risk. It can be found in various forms of insurance and contract law, and has been explored in works such as Chaucer's 'The Canterbury Tales' and Shakespeare's 'The Merchant of Venice'.

How to Memorize "indemnification"

1. visualize
   

   - Imagine a person being protected by a shield, symbolizing the concept of indemnification and the idea of being free from harm.

2. associate
   

   - Associate the word 'indemnification' with the idea of protection, safety, and compensation.

3. mnemonics
   

   - Create a mnemonic using the acronym 'SAFE': Safety, Agreement, Free, and Exchange, representing the key aspects of indemnification: providing safety, entering into an agreement, being free from harm, and exchanging compensation.

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