indemnity
/ɪnˈdɛmnɪti/
noun
- Protection or security against financial loss or damage, often provided by an insurance policy or contract.
- Travel insurance provides indemnity for trip cancellations and medical emergencies.
- The insurance policy offers indemnity against theft and vandalism.
- The contract includes a clause for indemnity in case of a lawsuit.
- A sum of money paid as compensation for loss or damage.
- The government provided an indemnity to farmers whose crops were destroyed by the drought.
- After the accident, the driver received an indemnity from the insurance company.
- The court ordered the company to pay an indemnity of $50,000 to the injured worker.
Antonyms