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English definition of “indemnity”

indemnity

noun [C or U]     /ɪnˈdem.nə.ti/ US  /-t̬i/ formal or specialized
protection against possible damage or loss, especially a promise of payment, or the money paid if there is such damage or lossInsurance
(Definition of indemnity noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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