indemnify


in·dem·ni·fy

verb \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

Related to INDEMNIFY

Other Economics Terms

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

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