Indemnify Definition in Context with Images

Indemnify definition in context with images and synonyms from the book, Vocabulary for the College-Bound Student. Learn the word, indemnify, in short real passages with parts of speech and text-to-speech.

/ɪnˈdem.nɪ.faɪ/ (verb)

Indemnify definition

to protect or insure someone or something against any possible damage or loss especially financial loss or damage, compensate for harm or loss, reimburse, secure, guarantee, underwrite

Example

Indemnity insurance is a type of insurance policy where the insurance company guarantees compensation for losses or damages sustained by a policyholder. Indemnity insurance is designed to protect professionals and business owners when found to be at fault for a specific event such as misjudgment.

Certain professionals must carry indemnity insurance including those involved in financial and legal services, such as financial advisors, insurance agents, accountants, mortgage brokers, and attorneys.

Source of example: https://www.investopedia.com/

Parts of speech

Noun: indemnity

Noun: indemnifier

Noun: indemnification