What is Indemnity – Meanings

Compensation is the compensation required for the damage caused.

In the workplace, payment of a compensation for eviction or dismissal. The amount of compensation required depends on the years of service, the daily wage set in the original contract, company policy and the jurisdiction of each country.

The compensations are demands for generally monetary compensation towards any type of institution, organization or company that causes physical or psychological harm to a natural person or legal entity.

The success of the lawsuit for the payment of compensation depends on the laws of each country. Today, there are institutions of consumer defensefor example, which helps people in the process of demanding compensation for the abuses of companies that create harm to the people who consume their products or services.

Indemnification derives from the verb indemnify, which comes from the Latin compound of the prefix in- which means denial of an action, the word damnum which means damage and the suffix -izare which means “to become” therefore the word refers to the cancellation of the damage caused.

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