Should I agree to indemnify and hold harmless?

My 13 yr. old son was injured (three broken fingers) at school when another child shoved him in the back while he was running in PE class. The parents of the kid that caused my son's injury have had their attorney draft a settlement for us to sign before they pay our out-of-pocket medical expenses. I do not want to incur legal fees for reviewing this document. I believe I understand it all and can agree with the terms, but this clause looks like something I should NOT agree to...

"In the event any one brings any action or demand to D for the injuries alleged to have been sustained by P on or about xxx, 2006 at xxxxx, then P agrees to indemnify D and hold them harmless from all liabilities."

I am "P" and they are "D" in the above paragraph.

Is this request to indemnify and hold them harmless something that I should refuse to agree to?

Does it cause a risk for me?

Thanks!

He could take that out--you agree not to take further actions etc.--you don't need to agree to indemnify them as well