Dictionary

indemnify

verb in·dem·ni·fy \in-ˈdem-nə-ˌfī\

: to protect (someone) by promising to pay for the cost of possible future damage, loss, or injury

: to give (someone) money or another kind of payment for some damage, loss, or injury

in·dem·ni·fiedin·dem·ni·fy·ing

Full Definition of INDEMNIFY

transitive verb
1
:  to secure against hurt, loss, or damage
2
:  to make compensation to for incurred hurt, loss, or damage
in·dem·ni·fi·er \-ˌfī(-ə)r\ noun

Examples of INDEMNIFY

  1. <the company generously indemnifies workers who are injured on the job>
  2. Again, let's look at auto insurance, which indemnifies the holder against loss. If a policy-holder's car is wrecked, the insurance company sends him a check for the value of the car … —John Steele Gordon, American Heritage, May–June 1992

Origin of INDEMNIFY

Latin indemnis unharmed, from in- + damnum damage
First Known Use: 1611

Synonym Discussion of INDEMNIFY

pay, compensate, remunerate, satisfy, reimburse, indemnify, repay, recompense mean to give money or its equivalent in return for something. pay implies the discharge of an obligation incurred <paid their bills>. compensate implies a making up for services rendered <an attorney well compensated for her services>. remunerate clearly suggests paying for services rendered and may extend to payment that is generous or not contracted for <promised to remunerate the searchers handsomely>. satisfy implies paying a person what is required by law <all creditors will be satisfied in full>. reimburse implies a return of money that has been spent for another's benefit <reimbursed employees for expenses>. indemnify implies making good a loss suffered through accident, disaster, or warfare <indemnified the families of the dead miners>. repay stresses paying back an equivalent in kind or amount <repay a favor with a favor>. recompense suggests due return in amends, friendly repayment, or reward <passengers were recompensed for the delay>.

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

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