indemnitee

American  

[in-dem-ni-tee] / ɪnˌdɛm nɪˈti /

noun

1. a person or company that receives indemnity.

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Usage

What does indemnitee mean? An indemnitee is a person or organization that receives indemnity—protection or security against damage or loss, or compensation for damages or money spent.Insurance coverage provides indemnity to a person or organization by insuring them for certain potential situations, such as damages to their property from natural disasters or accidents. Indemnity is commonly used in legal contracts to secure protection against being sued or held responsible for an accident. It’s often seen in the phrase indemnity clause.The one who receives such coverage is the indemnitee, and the one who provides it is the indemnitor. The indemnitor is typically the insurance company, and the indemnitee is the person or organization who pays for the insurance coverage.To provide indemnity is to indemnify. The indemnitor indemnifies the indemnitee.Example: The final damage assessment is the obligation of the indemnitor, not the indemnitee—that’s part of what the policyholder is paying for.

Etymology

Origin of indemnitee

indemnit(y) + -ee

Compare meaning

How does indemnitee compare to similar and commonly confused words? Explore the most common comparisons:

• indemnitee vs. indemnitor