indemnify
verb[T]
uk/ɪnˈdem.nɪ.faɪ/us/ɪnˈdem.nə.faɪ/finance & economicsformalorspecialized
topayorpromisetopaysomeone anamountofmoneyif theysufferdamageorloss:
Inreturnfor apremium, theunderwriteragreesto indemnify theinsuredagainstlossescoveredby theinsurance.
Thefarmbillcontainedprovisionsenablingthesecretaryofagricultureto indemnifyfarmersfromcertainlosses.
Thesellerpromisedto indemnify thebuyerforcleanupcostsassociatedwithpollutionon theparcelofland.
lawspecialized
toprotectsomeone againstlegalresponsibilityfortheiractions:
He cannotsue, because thegovernmenthad indemnified thecompany.
Thestateisrequiredto indemnifyemployeesagainstcivilclaimsrelatingtoactionstaken in thecourseoftheirofficialduties.
- Thejuryare indemnified fortheirattendanceeither by theStateor thepartiesconcerned.
- Theelectricitycompanyagreed,providingheboughtinsuranceindemnifying it against anyclaims.
- USforcesare indemnified foractsofwar.
- Themoderncommercialenvironmentrequiresthatdirectorsare indemnified against liabilitiesincurredwhilstperformingtheirduties.
Insurance
- actuarial
- actuary
- assessor
- claim
- comprehensive
- copay
- coverage
- guarantee
- indemnity
- insurance
- insurer
- loss adjuster
- mature
- non-contributory
- non-network
- noncoverage
- Obamacare
- policyholder
- PPI
- protect
You can also find related words, phrases, and synonyms in the topics:
Paying money
Duty, obligation and responsibility
Taking legal action