Indemnis

Indemnis is a term originating from Latin, meaning "uninjured" or "unharmed." In legal and insurance contexts, it refers to the principle of indemnity, which aims to restore a party to the financial position they were in before a loss occurred. This is typically achieved through insurance policies, where the insurer agrees to compensate the insured for covered damages or losses. The core idea behind indemnity is to prevent an insured party from profiting from a loss. Instead, they should be made whole, neither better nor worse off financially than they were before the insured event. Indemnity can also be found in contractual agreements, where one party agrees to compensate another for any losses or damages they might incur. This is often seen in situations involving third-party liability or potential risks. The concept ensures that responsibility for financial harm is clearly defined and allocated, providing a form of protection against unforeseen events or contractual breaches.