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 ?
FN1: Although the constitutional bar has since been removed (see Bardi v Warren County Sheriff's Dept, 194 AD2d 21, 23 [3d Dept 1993]), Erie County has not adopted an obligation to indemnify the Sheriff or otherwise altered its 1985 resolution.
3d 740, 743, the Colony court stated that "although the duty to defend is 'strictly circumscribed by the eight-corners doctrine, it is well settled that the facts actually established in the underlying suit control the duty to indemnify.
Your company may purposefully have refused to indemnify vendors in respect of certain categories of claims.
Appraiser shall further indemnify, defend and hold (special servicer), and its officers, directors, employees and other representatives, harmless from and against any and all claims, losses, liabilities, costs and expenses relating or attributable in any way, in whole or in part, to the appraiser's services hereunder, including, but not limited to, any claim against (special servicer), and/or its officers, directors, employees or other representatives, by any borrower, investor, trustee or other party holding an interest in any loan.
District Court for the Northern District of California held that a corporation may voluntarily indemnify its officers and directors for settlement payments and defense costs arising from shareholder class action claims for violations of section 10(b) of the Securities Exchange Act of 1934.
The next day, CBS agreed to what they had previously refused to do: indemnify Wigand against a legal action by his former employer for breach of contract.
Where the group is unable to have the clause removed, however, it should insist that the clause also require the vendor to indemnify the group.
The court dismissed this argument, stating the common-law rule of imputing the wrongful conduct of a corporation's directors and officers to the corporation applies for the purposes of determining the FDIC's obligation to indemnify Grant.
One proposal is to use the War Powers Act to indemnify defense-related contractors.
The CODA Premier Directors and Officers Liability Policy* form is designed to give comprehensive financial protection to directors and officers when their company fails to indemnify them, or when traditional insurance programs fail to respond.
The CONTRACTOR agrees to protect, defend, indemnify, and hold harmless