Etymology From indemn (“unhurt”) + -ify (forming verbs)
1
To secure against loss or damage; to insure.
The states must at last engage to the merchants here that they will indemnify them from all that shall fall out.1670, Sir William Temple, letter to Lord Arlington, in The Works of Sir William Temple, page 101
2
Law To compensate or reimburse someone for some expense or injury.
The lender of a thing for use must indemnify the borrower for damage caused by defects or vices in it, which he knew at the time of lending, and concealed from the borrower.1906, Civil Code of the State of California, page 405:
1583, Thomas Stocker's translation of A tragicall historie of the troubles and ciuile warres of the lowe Countries, i. 63a He... did not belieue that his Maiestie by this occasion coulde any way be endemnified.
1593, Thomas Lodge, Life & Death of William Long Beard, E ij What harme the Rhodians haue doone thee, that thou so much indemnifiest them?