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The meaning of indemnify

SpletAn indemnity is routinely included within a contract of guarantee because an indemnity, as a primary obligation, is likely to be less vulnerable to challenges than a guarantee. For more … Splet05. nov. 2024 · To indemnify is to make a payment to another to reimburse a loss. Insurance companies indemnify policyholders for covered losses. Guaranteed indemnification of covered losses is a basic principle of insurance, and it is the main reason why people buy insurance for various risks. Advertisement.

Indemnify Definition & Meaning - Merriam-Webster

Spletindemnify verb [ T ] uk / ɪnˈdem.nɪ.faɪ / us / ɪnˈdem.nə.faɪ / finance & economics formal or specialized to pay or promise to pay someone an amount of money if they suffer damage … Splet21. jul. 2024 · The words defend, hold harmless, and indemnify must be included in an indemnification clause. Essentially, hold harmless and indemnify mean the exact same thing. ... For instance, if your contract includes a mutual indemnification clause, it means that both contracted parties have agreed to cover losses that result from a breach of … famous tate customer service https://zappysdc.com

INDEMNIFIED English meaning - Cambridge Dictionary

SpletTo compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person. Insurance companies … Splet12. apr. 2024 · Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnity is used in the legal sense, it may also refer to an … Splet30. okt. 2024 · Indemnity insurance is an insurance policy designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment. Typical examples of ... cora worms villingen

INDEMNIFYING English meaning - Cambridge Dictionary

Category:indemnify Wex US Law LII / Legal Information Institute

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The meaning of indemnify

Indemnify definition and meaning Collins English Dictionary

SpletThe definition of indemnify is to protect against loss, injury or damage or to pay someone for a loss they suffered. An example of indemnify is when your insurance provider pays … SpletINDEMNIFY meaning: 1 : to protect (someone) by promising to pay for the cost of possible future damage, loss, or injury; 2 : to give (someone) money or another kind of payment …

The meaning of indemnify

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Splet26. mar. 2024 · indemnify in American English (ɪnˈdemnəˌfai) transitive verb Word forms: -fied, -fying 1. to compensate for damage or loss sustained, expense incurred, etc 2. to … SpletMeaning that, if an accident happens while the renter is using the car, the car rental company will not be liable for any damage. ‌ ... Standard drafting of this clause will include that the indemnitor agrees to “indemnify, defend, and hold harmless” the indemnitee. It’s crucial to include this phrase in every indemnity agreement. ‌

SpletTo indemnify is to insure someone against potential damages or loss or to compensate someone for damages or money spent. Insurance coverage ind e mnifies a person by … Splet24. jul. 2024 · The inherent meaning of “hold harmless” is subject to interpretation. The prevailing interpretation is that “hold harmless” and “indemnify” are synonymous.

SpletFrom Longman Dictionary of Contemporary English Related topics: Law, Insurance indemnify in‧dem‧ni‧fy / ɪnˈdemnɪfaɪ / verb (indemnified, indemnifying, indemnifies) … Splet1 a : the action of indemnifying b : the condition of being indemnified 2 : indemnity sense 2b Synonyms compensation damages indemnity quittance recompense recoupment redress remuneration reparation reprisal (s) requital restitution satisfaction See all Synonyms & Antonyms in Thesaurus Example Sentences

Spletindemnified; indemnifying 1 : to secure against hurt, loss, or damage 2 : to compensate or reimburse for incurred hurt, loss, or damage indemnifier noun Etymology Latin indemnis unharmed, from in- not + damnum …

Splet24. jul. 2024 · Indemnification, according to the court, is “an offensive right—a sword—allowing the indemnitee to seek indemnification.” On the other hand, hold harmless is a defensive measure providing “ [t]he... corax lightingSpletIndemnify definition: To protect against damage, loss, or injury; insure. famous tate distributionSpletin·dem·ni·fy 1. To protect against damage, loss, or injury; insure. 2. To make compensation to for damage, loss, or injury suffered. corax tisiasSpletThe meaning of INDEMNITY is security against hurt, loss, or damage. How to use indemnity in a sentence. security against hurt, loss, or damage; exemption from incurred penalties … famous tate distribution centerSplet21. okt. 2006 · It defines hold harmless as follows: “To absolve (another party) from any responsibility for damage or other liability arising from the transaction; INDEMNIFY.” (It defines indemnify as follows: “To reimburse (another) for a loss suffered because of a third party’s or one’s own act or default. 2. To promise to reimburse (another) for such a loss. famous tate electric coSpletIndemnity is protection or security against damage or loss, or compensation for damages or money spent. Insurance coverage provides indemnity to a person (or organization) by … coray thibautSpletDefinition of indemnify as in to compensate to provide (someone) with a just payment for loss or injury the company generously indemnifies workers who are injured on the job … corax werkstoff