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TeachMeFinance.com - explain Indemnify indemnify -- to compensate for an actual, sustained loss so as to restore to the condition prevailing before the loss. another definition... Indemnify -- 1. To compensate for actual loss sustained. 2. To give security for the reimbursement of a person in case of an anticipated loss falling upon him. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.