indemnify

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Related to indemnified: indemnification, indemnity

Indemnify

To compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person.

Insurance companies indemnify their policyholders against damage caused by such things as fire, theft, and flooding, which are specified by the terms of the contract between the company and the insured.

indemnify

v. to guarantee against any loss which another might suffer. Example: two parties settle a dispute over a contract, and one of them may agree to pay any claims which may arise from the contract, holding the other harmless. (See: hold harmless)

indemnify

verb answer for, compensate, compennate for injury, compensate for loss, compensate for loss sustained, damnum restituere, damnum sarcire, give back, give satisfaction, grant monetary compensation, insure, make good, make good against anticipated loss, make reparation, make restitution, make up, offer compensation, offer reparation, offer satisfaction, pay, pay back, pay compensation, pay reparations, recompense, recompense for past loss, redeem, refund, reimburse, repay, requite, restore, return money paid out, save harmless, secure against damage, secure against loss
Associated concepts: subrogate
See also: bear the expense, compensate, defray, outbalance, pay, quit, recoup, refund, reimburse, remedy, remunerate, repay, restore, return

indemnify

to be liable under an INDEMNITY or as if so.
References in periodicals archive ?
What losses are being indemnified and what losses are excluded?
The policy should pay on behalf of an individual director for a covered loss which is not indemnified by their company, regardless of whether the company is prohibited, insolvent or otherwise.
The court must rule Transocean cannot be indemnified if there is gross negligence," Andrew Langan, a lawyer for BP, told the judge yesterday.
If your current insurance does not cover this risk (and it probably would not without notifying the insurance company and having the policy changed to include the other company and its contractors as insureds), your company could be liable to pay out of its own pocket the costs for a claim, including an attorney to defend the indemnified company.
Your policy may make your promise to indemnify the vendor of your products an "insured contract," in which ease you will be indemnified for the sums you are required to pay in fulfilling that promise.
The indemnified party must determine the amount to recognize for the indemnification asset.
The eight issues of bonds of 252 million euros that have so far been issued indemnified 35,000 citizens.
Accordingly, to ensure that you will be indemnified, your company's bylaws or your indemnification agreement must provide for mandatory indemnification if you meet the statutorily prescribed standards (e.
11 terrorist attacks and how they think terrorism risks should be indemnified.
A general contractor cannot be indemnified for its own negligence, nor can the subcontractor be required to indemnify the owner, architect, or engineer.