legal exemption from liability for damages
"The contract included a clause of indemnity that protected the contractor from being sued if the project was delayed due to weather conditions."
a sum of money paid in compensation for loss or injury
"The insurance company approved our claim and issued an indemnity to cover the total cost of repairing the damaged roof."
Security from damage, loss, or penalty.
"After signing the contract, he felt a sense of indemnity knowing that any accidental damages would be covered by insurance."