indemnify


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Related to indemnify: indemnify against

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 ?
The CONTRACTOR%S obligation to protect, defend, indemnify, and hold
Attempts were being made to indemnify the steps of a prime minister who had been declared disqualified by the Supreme Court, he added.
Considering that your company is promising to indemnify another for claims by your own employees, your company should make sure that its liability insurance covers the other company and everyone else indemnified.
Products liability coverage is generally subject not only to "per occurrence" or "per claim" limits, but also to aggregate liability limits--meaning that the indemnification of vendors could leave you without available limits to indemnify your own liabilities.
In such a case, the subsidiary may agree to indemnify the parent for any income taxes that the parent may be assessed related to the resolution of the subsidiary's prior uncertain tax positions.
For example, a tenant who operates a gymnastics school might agree in a lease to indemnify the landlord for all damages claimed against the landlord if an injured gymnast sues the landlord.
The night and tenth issues of 50 million euros is going to indemnify the remaining 600 citizens having reported confiscated land.
The true position is that MMI and Mr Willett, who is the Claims Director of MMI, were not seeking to avoid valid claims, but were fighting a court case to see whether they, or another insurer, were liable to indemnify local authorities which had paid out to victims of mesothelioma.
In general, state corporation statutes authorize corporations to indemnify a director or officer for losses incurred as a result of a legal proceeding against the director or officer in his or her capacity as such, but this indemnification is merely permissive in most circumstances.
Side A only policies also provide protection when the company is unable to indemnify the directors and officers, including situations in which the company is insolvent.
The coverage is triggered when the organization is prevented by law from indemnifying its directors, when it fails or refuses to indemnify the directors even if permitted to do so, or when the organization files for bankruptcy and is financially unable to indemnify its directors.
Wicks has also agreed to indemnify School Specialty for certain liabilities relating to Delta and limited to amounts held in escrow, the balance of which is expected to be $15 million as of the closing of the transactions.