From Longman Dictionary of Contemporary Englishindemnifyin‧dem‧ni‧fy /ɪnˈdemnɪfaɪ/ verb (indemnified, indemnifying, indemnifies) [transitive] law 1 [+against/for]SCLBFI to promise to pay someone if something they own is damaged or lost2 [+for]SCLBFI to pay someone money because of loss, injury, or damage that they have suffered —indemnification /ɪnˌdemnɪfɪˈkeɪʃən/ noun [countable, uncountable]→ See Verb table
Examples from the Corpus
indemnify• Heads of departments and institutions are indemnified by the University in respect of any claims made against them under civil law in connection with safety duties.• They guaranteed to indemnify him against any financial loss.• The Company has taken out insurance to indemnify its Directors and Officers against liability when acting for the Group.• It is further acknowledged that each of the parties shall indemnify me for all reasonable costs of defending such actions and proceedings.• Due to the onerous nature of this work it is important that any engagement letter fully indemnifies the Firm.From Longman Business Dictionaryindemnifyin‧dem‧ni‧fy /ɪnˈdemnɪfaɪ/ verb (past tense and past participle indemnified)1[intransitive, transitive]LAW to promise to pay for a financial loss that a person or organization may haveYou 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 sufferedIn 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→ See Verb tableOrigin indemnify (1600-1700) Latin indemnis “unharmed”, from damnum “damage” 