Reimbursement vs. Indemnity

Reimbursement vs. Indemnity — Is There a Difference?
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Difference Between Reimbursement and Indemnity

Reimbursementnoun

The act of compensating someone for an expense.

Indemnitynoun

Security from damage, loss, or penalty.

Reimbursementnoun

compensation paid (to someone) for damages or losses or money already spent etc.;

he received reimbursement for his travel expenses

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.

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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

protection against future loss

Indemnitynoun

legal exemption from liability for damages

Indemnitynoun

a sum of money paid in compensation for loss or injury