The definition of indemnify is to protect against loss, injury or damage or to pay someone for a loss they suffered.(verb)
An example of indemnify is when your insurance provider pays you for the repair of damage to your car.
See indemnify in Webster's New World College Dictionary
Origin: < L indemnis, unhurt < in-, not + damnum, hurt, harm, damage (see damn) + -fy
See indemnify in American Heritage Dictionary 4
transitive verb in·dem·ni·fied, in·dem·ni·fy·ing, in·dem·ni·fies
Origin: Latin indemnis, uninjured (in-, not; see in-1 + damnum, harm, damage entailing liability)
Origin: + -fy.
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