Gap Indemnity Agreement

Can someone please explain the GAP Indemnity Agreement and how you explain it to the seller? What exactly are they indemnifying the title company of?

I would be happy to know once you find out.

Google says:

“What is a gap indemnity agreement? An indemnity requested by a title insurance company from either a borrower or a seller to minimize its risk during the time between closing a real estate transaction and the actual recording of the instrument.”

Also from Google:
“Indemnity is a comprehensive form of insurance compensation for damages or loss. In a legal sense, it may also refer to an exemption from liability for damages.”