💰 Indemnify: Financial SAT Vocabulary
INDEMNIFY most nearly means: A) compensate; B) deplete; C) capitulate; D) obfuscate. Answer inside. 👉️
This word shows up a lot in discussions of insurance.
📚️ Definition of Indemnify
Indemnify (verb): To compensate someone for harm, loss, or damage suffered; to protect someone against future loss through a formal agreement. Example: to indemnify a homeowner after a flood.
🗣️ Pronunciation of Indemnify
IPA: /ɪnˈdɛm.nə.faɪ/ (See IPA key)
Respelling: in-DEM-nuh-fye
📰 Examples of Indemnify
Here are some examples of the word indemnify:
The airline had to indemnify passengers whose luggage was lost over the weekend up to $4,700 per bag.
Medieval guilds often pooled funds to effectively indemnify one another against losses from fire or theft, something that still happens today in certain communities.
My renter’s insurance finally agreed to indemnify me for the water damage after I sent documentation with timestamps and photos.
Quiz answer: A, compensate.