To protect someone against possible loss, damage, or legal responsibility, or to pay them back for such losses.
From Late Latin 'indemnis' (unhurt, undamaged) plus '-fy' (to make), via French 'indemnifier'. It literally means 'to make un-damaged again'.
To indemnify is to hit the financial ‘undo’ button after something goes wrong. Insurance policies are basically promises to indemnify you—to return you, as much as possible, to the state of being unharmed.
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