indemnification

Definitions

Accounting

Construction

  • An obligation contractually assumed or legally imposed on one party to protect another against loss or damage from stated liabilities. See also insurance.

Health Economics

  • (written as Indemnification)
    The compensation or benefits payable under an insurance policy, or a principle of insurance, to the effect that an insured person should be retrospectively restored to the same financial position as before a covered loss.
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