indemnity
noun [ C or U ]
uk/ɪnˈdemnəti/ usplural indemnities INSURANCE
protection against possible damage or loss, or the money paid if there is damage or loss:
indemnity for/against sth The policy provides an indemnity for loss of or damage to third-party property.
provide/offer (an) indemnity This insurance provides indemnity against legal costs and damages.
Creditors must give an indemnity to cover the costs of a potential claim.
professional indemnity insurance
LAW
protection against having legal responsibility for something:
indemnity against sth The doctors were given an indemnity against prosecution for performing abortions.
GOVERNMENT
a sum of money that is paid to someone for a loss, especially by one country to another country
See also
double indemnity
letter of indemnity