indemnity
noun
in·dem·ni·ty
in-ˈdem-nə-tē
plural indemnities
1
a
: security against hurt, loss, or damage
b
: exemption from incurred penalties or liabilities
An action to enforce indemnity from liability accrues when the event for which indemnity is due occurs …—
Travelers Ins. v. LV French Truck Serv., 770 P.2d 551 (1988)
2
b
: something that indemnifies
3
: fee-for-service
—usually used attributively
an indemnity plan
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Merriam-Webster unabridged




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