indemnification

(redirected from indemnified)
Also found in: Dictionary, Thesaurus, Medical, Legal, Financial.
Related to indemnified: indemnification, indemnity

indemnification

A contractual obligation by which one person or organization agrees to secure another against loss or damage from specified liabilities.
References in periodicals archive ?
What losses are being indemnified and what losses are excluded?
The policy should pay on behalf of an individual director for a covered loss which is not indemnified by their company, regardless of whether the company is prohibited, insolvent or otherwise.
The court must rule Transocean cannot be indemnified if there is gross negligence," Andrew Langan, a lawyer for BP, told the judge yesterday.
If your current insurance does not cover this risk (and it probably would not without notifying the insurance company and having the policy changed to include the other company and its contractors as insureds), your company could be liable to pay out of its own pocket the costs for a claim, including an attorney to defend the indemnified company.
Your policy may make your promise to indemnify the vendor of your products an "insured contract," in which ease you will be indemnified for the sums you are required to pay in fulfilling that promise.
The indemnified party must determine the amount to recognize for the indemnification asset.
The eight issues of bonds of 252 million euros that have so far been issued indemnified 35,000 citizens.
To the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in subsections (a) and (b) of this section, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection therewith.
Accordingly, to ensure that you will be indemnified, your company's bylaws or your indemnification agreement must provide for mandatory indemnification if you meet the statutorily prescribed standards (e.
11 terrorist attacks and how they think terrorism risks should be indemnified.