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 ?
In addition, Bata was prohibited from indemnifying the officers.
The coping mechanism of a number of large accounting firms is to push their mutual clients toward indemnifying them.
Second, Section 533 does not bar an insurer from indemnifying a policyholder who is vicariously liable for the willful act of another.