Meaning of “mortgage indemnity insurance” in the English Dictionary

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"mortgage indemnity insurance" in Business English

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mortgage indemnity insurancenoun [ U ]

uk us UK INSURANCE

a type of insurance that protects a financial organization against loss if someone is unable to pay back their mortgage:

Loans above 75 per cent involve mortgage indemnity insurance.

(Definition of “mortgage indemnity insurance” from the Cambridge Business English Dictionary © Cambridge University Press)