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Licensors use license agreements to grant their licensees the right to use certain intellectual property, including software, trademarks, service marks, inventions, and patents. Besides the property being licensed and the royalty rates, license agreements can also include representations, warranties, termination provisions, terms of indemnification and dispute resolution clauses. (contracts.onecle.com)

Directors and officers liability Insurance (often called "D&O") is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. (Wikipedia)

mutual insurance. An insurance system in which the insured persons become company members, each paying specified amounts into a common fund from which members are entitled to indemnification in case of loss. (American Heritage Dictionary of the English Language)

If you are the indemnified party, an indemnification clause is simply a promise by the other party to cover your losses if they do something that causes you harm or causes a third party to sue you. (Startup Law Talk)