indemnification

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:

  • indemnification — in·dem·ni·fi·ca·tion /in ˌdem ni fə kā shən/ n 1 a: the action of indemnifying b: the condition of being indemnified 2: indemnity (2b) Merriam Webster’s Dictionary of Law. Merriam W …   Law dictionary

  • Indemnification — In*dem ni*fi*ca tion, n. 1. The act or process of indemnifying, preserving, or securing against loss, damage, or penalty; reimbursement of loss, damage, or penalty; the state of being indemnified. [1913 Webster] Indemnification is capable of some …   The Collaborative International Dictionary of English

  • indemnification — (n.) 1732, noun of action from INDEMNIFY (Cf. indemnify) …   Etymology dictionary

  • indemnification — [in dem΄ni fi kā′shən] n. 1. an indemnifying or being indemnified 2. something that indemnifies; recompense SYN. REPARATION …   English World dictionary

  • indemnification — n. to pay indemnification for * * * [ɪnˌdemnɪfɪ keɪʃ(ə)n] to pay indemnification for …   Combinatory dictionary

  • indemnification — 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

  • indemnification — noun Date: 1732 1. a. the action of indemnifying b. the condition of being indemnified 2. indemnity 2b …   New Collegiate Dictionary

  • indemnification — indemnificatory /in dem nif euh keuh tawr ee, tohr ee/, adj. /in dem neuh fi kay sheuhn/, n. 1. the act of indemnifying; state of being indemnified. 2. something that serves to indemnify; compensation. [1725 35; INDEMNI(TY) + FICATION] Syn. 2.… …   Universalium

  • indemnification — noun a) The act or process of indemnifying, preserving, or securing against loss, damage, or penalty; reimbursement of loss, damage, or penalty; the state of being indemnified. b) That which indemnifies …   Wiktionary

  • indemnification — Synonyms and related words: amends, atonement, balancing, blood money, commutation, compensation, composition, compromise, consideration, counteraction, counterbalancing, damages, expiation, expiatory offering, guerdon, honorarium, indemnity, lex …   Moby Thesaurus

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