Main Entry: in·dem·ni·ty

Pronunciation: \in-ˈdem-nə-tē\

Function: noun

Inflected Form(s): plural in·dem·ni·ties

Date: 15th century

1 a : security against hurt, loss, or damage b : exemption from incurred penalties or liabilities
2 a : indemnification 1 b : something that indemnifies
3 : fee-for-service —usually used attributively <an indemnity plan>