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indemnity (n.)

mid-15c., indempnite, "security or exemption against damage, loss, etc.," from Old French indemnité (14c.), from Late Latin indemnitatem (nominative indemnitas) "security for damage," from Latin indemnis "unhurt, undamaged," from in- "not, opposite of, without" (see in- (1)) + damnum "damage" (see damn). Meaning "legal exemption" is from 1640s; sense of "compensation for loss" is from 1793. Related: Indemnitor; indemnitee.

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Definitions of indemnity from WordNet

indemnity (n.)
protection against future loss;
Synonyms: insurance
indemnity (n.)
legal exemption from liability for damages;
indemnity (n.)
a sum of money paid in compensation for loss or injury;
Synonyms: damages / amends / indemnification / restitution / redress
From wordnet.princeton.edu