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Definition of indemnity noun from the Oxford Advanced American Dictionary

     

    indemnity

     noun
    noun
    NAmE//ɪnˈdɛmnət̮i//
     
    (pl. indemnities) (formal or )
     
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  1. 1(law) [uncountable] indemnity (against something) protection against damage or loss, especially in the form of a promise to pay for any that happens an indemnity clause/fund/policy indemnity insurance
  2. 2[countable] a sum of money that is given as payment for damage or loss
See the Oxford Advanced Learner's Dictionary entry: indemnity