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indemnity (plural indemnities)
- (law) An obligation or duty upon an individual to incur the losses of another.
- (law) The right of an injured party to shift the loss onto the party responsible for the loss.
- (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.
obligation or duty
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