The word "indemnifies" can be a bit tricky to spell. It is pronounced in-dem-nuh-fahyz, with four syllables. The IPA phonetic transcription breaks it down further: /ˌɪn.dem.nəˈfaɪz/. The word comes from the verb "indemnify," which means to compensate someone for a loss or damage. When you add the suffix "-ies," it becomes the third person singular form of the verb in present tense. So, "he indemnifies" becomes "he indemnifies them." Remembering the root word and the suffix can help when spelling this word.
Indemnifies is a verb form of the word "indemnify". Indemnify, as a transitive verb, refers to the act of compensating or making financial restitution to someone for a loss, damage, or injury they have suffered. It involves providing security, protection, or legal assurance against potential harm or liability. When an entity indemnifies someone, they assume responsibility for any potential negative consequences that may arise in a certain situation and agree to cover the costs or make the injured party whole.
For example, in the context of insurance, an insurance company may indemnify policyholders by reimbursing them for any losses or damages incurred under the terms and conditions of the policy. Similarly, in legal contracts, one party may indemnify the other by guaranteeing full compensation for any losses or legal expenses that may occur as a result of engaging in a particular endeavor.
The act of indemnifying is designed to mitigate risks and provide financial protection, ensuring that individuals or entities are not left adversely affected by unforeseen circumstances or events. By indemnifying someone, an entity accepts the responsibility for bearing the financial burden of a loss or damage, therefore safeguarding the affected party from significant financial hardship.
The word "indemnifies" is derived from the Latin word "indemnificare", which combines two root words: "in-" meaning "not" or "without", and "damnum" meaning "harm" or "loss". "Indemnificare" itself is formed by combining "in-" and "damnum" with the suffix "-ficare" meaning "to make" or "to do". In English, the word "indemnify" means to protect or compensate someone from any harm, loss, or damage they may suffer.