indemnify


indemnify
Used in insurance policy agreements as to compensation for damage or loss. Hold harmless

* * *

indemnify in‧dem‧ni‧fy [ɪnˈdemnfaɪ] verb indemnified PTandPP
1. [intransitive, transitive] LAW to promise to pay for a financial loss that a person or organization may have:

• You can be indemnified against claims for professional negligence, ruined holidays and so on.

2. [transitive] INSURANCE to pay someone money because of loss, injury, or damage that they have suffered:

• In accordance with the new policy, the company has agreed to indemnify the directors for any previous losses.

— indemnification noun [countable, uncountable] :

• the indemnification of the firm against liability

* * *

indemnify UK US /ɪnˈdemnɪfaɪ/ verb [T]
INSURANCE, LAW to pay someone for loss or damage that they have suffered, or to formally promise to do this: idemnify sb against sth »

The insurer will indemnify the policyholder against loss of or damage to the motor car.

idemnify sb for sth »

The victim was indemnified for lost income.

»

The customer shall fully indemnify the company against any costs or expenses.

LAW to protect someone from having legal responsibility for something: »

idemnify sb against sth

»

Directors cannot be indemnified against liability for negligence.

indemnification noun [C or U]
»

Trustees are entitled to indemnification for expenses and liabilities.


Financial and business terms. 2012.

Synonyms:
(against loss, injury, or penalty), / (for loss or injury), , , ,


Look at other dictionaries:

  • indemnify — in·dem·ni·fy /in dem nə ˌfī/ vt fied, fy·ing [Latin indemnis unharmed, from in not + damnum damage] 1: to secure against hurt, loss, or damage 2: to compensate or reimburse for incurred hurt, loss, or damage in·dem·ni·fi·er n Merriam Webster’s… …   Law dictionary

  • Indemnify — In*dem ni*fy, v. t. [imp. & p. p. {Indemnified}; p. pr. & vb. n. {Indemnifying}.] [L. indemnis unhurt (in not + damnum hurt, damage) + fy. Cf. {Damn}, {Damnify}.] [1913 Webster] 1. To save harmless; to secure against loss or damage; to insure.… …   The Collaborative International Dictionary of English

  • indemnify — to guarantee against any loss which another might suffer. In bankruptcy, it is used to describe the undertaking of one spouse in a divorce to assume certain debts of the marriage and to see that the other spouse is not forced to pay. (Bankruptcy… …   Glossary of Bankruptcy

  • indemnify — (v.) compensate for loss or expense, 1610s, from L. indemnis unhurt (see INDEMNITY (Cf. indemnity)) + FY (Cf. fy). Related: Indemnified; indemnifying …   Etymology dictionary

  • indemnify — reimburse, recompense, compensate, remunerate, *pay, repay, satisfy …   New Dictionary of Synonyms

  • indemnify — ► VERB (indemnifies, indemnified) 1) compensate (someone) for harm or loss. 2) secure (someone) against legal responsibility for their actions. DERIVATIVES indemnification noun indemnifier noun …   English terms dictionary

  • indemnify — [in dem′ni fī΄] vt. indemnified, indemnifying [< L indemnis, unhurt < in , not + damnum, hurt, harm, damage (see DAMN) + FY] 1. to protect against or keep free from loss, damage, etc.; insure 2. a) to repay for what has been lost or… …   English World dictionary

  • indemnify — [[t]ɪnde̱mnɪfaɪ[/t]] indemnifies, indemnifying, indemnified VERB To indemnify someone against something bad happening means to promise to protect them, especially financially, if it happens. [FORMAL] [V n against n] They agreed to indemnify the… …   English dictionary

  • indemnify — verb /ɪnˈdɛm.nɪ.faɪ/ a) To secure against loss or damage; to insure. The states must at last engage to the merchants here that they will indemnify them from all that shall fall out. b) To compensate or reimburse someone for some expense or injury …   Wiktionary

  • indemnify — v. (D; tr.) to indemnify for * * * [ɪn demnɪfaɪ] (D; tr.) to indemnify for …   Combinatory dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.