Indemnify

AuthorJeffrey Lehman, Shirelle Phelps

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To compensate for loss or damage; to provide security for financial reimbursement to an individual in case of a specified loss incurred by the person.

Insurance companies indemnify their policyholders against damage caused by such things as fire, theft, and flooding, which are specified by

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the terms of the contract between the company and the insured.

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