indemnify

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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 ?
Alternatively, some suck-up, right-wing corporate lackey will propose a law indemnifying big tobacco from lawsuits.
POWYS Police has con-firmed it is liaising with the Crown Prosecution Service and another force over an auditor's finding that Carmarthenshire County Council acted unlawfully in awarding "pay supplements" to its chief executive and in indemnifying his legal costs in a libel action.
Bank Muscat has recently declared that its underwriters have affirmed for indemnifying the bank's loss in the sum of OMR15 million ($38.
Is there any cap on the amount of damages or defense costs the indemnifying party is required to pay?
The indemnifying party should determine whether it is a primary obligor to the taxing authority.