indemnify

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indemnify

[indem′nifī]
to protect against loss or injury by compensating for the loss or injury.

indemnify

verb To make good a loss.

indemnify

(ĭn-dĕm′nĭ-fī″) [L. indemnis, without loss]
1. To protect the interests of another party against losses.
2. To compensate another party for expenses incurred, as when a policy holder is indemnified by an insurance company.
References in periodicals archive ?
An indemnification agreement should not only require such advancement but also specify a time frame within which the company must respond after receiving a reimbursement request.
The SEC's prohibition of auditor indemnification for public companies is unequivocal in its Accounting Series Release "Indemnification by Client":
The amendment specifically prohibits the availability of the indemnification protection when a court determines that the indemnified party has committed 'gross negligence' with corresponding damage to the fundamental interests of the membership.
When you purchase support and indemnification, LinuxlT's Open Source Software Indemnification Program guarantees the performance of the OSS item against an enterprise Service Level Agreement (SLA).
The court may have been concerned with the inconsistent tax and accounting treatment, the lack of apparent business purpose for the indemnification, the fact that the indemnification applied only after the assets had become worthless, or the apparent worthlessness of the guarantee itself, in light of the lack of assets in the distributee.
The fact that the hospital settled the case against it for $1 Million did not extend its right to seek indemnification from any of the doctors who were allegedly responsible for the negligence, which the hospital acknowledged by settling for $1 Million.
If a company is a primary obligor to the taxing authority, it should account for the indemnification pursuant to the provisions within ASC 740, Income Taxes (ASC 740), dealing with accounting for uncertain tax positions.
Families of the injured will also benefit from material indemnification.
businesses in the real estate industry have become more keenly aware of their liability risks and more likely to try to shift such risks by using indemnification provisions.
Stevens added, "We need to clarify which circumstances we'll require indemnification [for] and the level of loan performance we expect lenders to maintain.
As an in-house lawyer, mine are document retention policies and indemnification of directors and officers.
Most of them concern reclaiming confiscated property, one-third involve indemnification with bonds, as some 20 percent involve indemnification with some other form of assets.