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

to be liable under an INDEMNITY or as if so.
References in periodicals archive ?
The Claimant had failed to notify the Defendant in accordance with the Terms and Conditions of the Policy which clearly provided that on the occurrence of death, the insurance company must be notified in writing within (7) days from the date of the death, and in case of failure to fulfill this requirement, the insurance company may refuse to indemnify the beneficiary; and
"Unfortunately what results is clerks are being required to perform lawyers' duty for redaction and in exchange for that they're asking lawyers to indemnify them from any release of confidential information.
For example, in jurisdictions recognizing implied or equitable indemnity, if two tortfeasors are both liable for an injury, but one was an active tortfeasor and one a passive one, a court may require the active tortfeasor to indemnify the passive tortfeasor.
Does this restriction detract from the axiom that the duty to defend is broader than the duty to indemnify when only limited information can be used?
On reargument, American Guarantee emphasizes that courts should refrain from making a determination on the duty to indemnify without a finding as to the facts that may determine whether exclusions apply.
Is this purely a duty to indemnify (i.e., to pay damages for which the indemnified party is ultimately found liable), also a duty to "defend" (i.e., immediately and actively fund the defense of any claim) and/or a duty to "hold harmless" (i.e., to release a party from any liability to you)?
Attempts were being made to indemnify the steps of a prime minister who had been declared disqualified by the Supreme Court, he added.
He also ruled, however, that London-based BP need not indemnify Transocean for punitive damages, or civil penalties imposed by the US government under the federal Clean Water Act.
The PVSC decision holds that there is no duty to indemnify nonmonetary settlements when the policy defines "loss" as "monetary damages." The court emphasized that the parties' settlement agreement consisted of services and transferred assets, and the subject policy stated that it "does not apply to ...
The report also reveals that Mrs Hexley agreed to personally indemnify Dains for up to pounds 10,000 plus VAT to cover the costs of a creditors' meeting, but to date only pounds 3,000 has been received.
A knock-for-knock provision provides that each party to the agreement agrees to indemnify the other (and their respective contractors) for claims arising from their own company's employees, regardless of who is at fault.
The amount of money needed to fully indemnify all citizens included in the process is not known.