indemnity
US /ɪnˈdem.nə.t̬i/
UK /ɪnˈdem.nə.t̬i/
1.
security or protection against a loss or other financial burden
:
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The company provided indemnity against any losses incurred.
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The insurance policy offers full indemnity for property damage.
2.
a sum of money paid as compensation, especially for loss or damage
:
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The court awarded him a substantial indemnity for his injuries.
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The contract included a clause for indemnity in case of breach.