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Definition of: indemnity
(in·dem′nə·tē) noun plural ·ties
1. That which is given as compensation for a loss or for damage.
2. An undertaking to remunerate another for loss or to protect him against liability.
3. Exemption from penalties or liabilities incurred. See synonyms under RECOMPENSE, RESTITUTION, SUBSIDY. [<F indemnité <L indemnitas <indemnis. See INDEMNIFY.]
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