indemnify

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Related to indemnifications: indemnified

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 ?
A company should account for the indemnification pursuant to ASC 450, Contingencies (ASC 450), if the ASC 460 parent-subsidiary scope exception applies.
These assumptions will affect the fair value of the indemnification, but do not change the amount owed by the reporting entity (i.
Payment of an indemnification liability will often result in a tax benefit.
The indemnified party must determine the amount to recognize for the indemnification asset.
To avoid ambiguity and disputes, it is essential that the manager's indemnification of the owner not overlap or undercut the owner's indemnification of the manager.
An appropriately drafted indemnification provision isn't enough.
Owners argue that it's fine to use a no-fault approach in the indemnification provision as long as the insurance company is paying the claim, but they don't want to pay the deductible when the agent's acts caused the claim.
Please note that this article has focused only on the basic structure of indemnification provisions and not on specific drafting issues.