Indemnify Law and Legal Definition
To indemnify means to reimburse another for a loss suffered because of a third party's or one's own act or default. It can also refer to a promise to reimburse another for such a loss or to give another security against such a loss. For e.g., insurance companies indemnify their policyholders against damage caused by such things which are specified by the terms of the contract between the company and the insured. The right to indemnity and the duty to indemnify commonly comes from a contractual agreement, which generally protects against liability, loss, or damage.
