Meaning of “indemnify” in the English Dictionary

(Definition of “indemnify” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"indemnify" in Business English

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indemnifyverb [ T ]

/ɪnˈdemnɪfaɪ/ uk us

INSURANCE, LAW to pay someone for loss or damage that they have suffered, or to formally promise to do this:

idemnify sb against sth The insurer will indemnify the policyholder against loss of or damage to the motor car.
idemnify sb for sth The victim was indemnified for lost income.
The customer shall fully indemnify the company against any costs or expenses.

LAW to protect someone from having legal responsibility for something:

idemnify sb against sth
Directors cannot be indemnified against liability for negligence.

Trustees are entitled to indemnification for expenses and liabilities.

(Definition of “indemnify” from the Cambridge Business English Dictionary © Cambridge University Press)