indemnity

noun5

1. •
   Security from damage, loss, or penalty.

   • And all this, it will be said, the Duke of Orleans might have prevented by an effective treaty, securing an act of indemnity. — 1834
2. •
   Repayment; compensation for loss or injury.
3. •
   An obligation or duty upon an individual to incur the losses of another.
4. •
   A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.
5. •
   The right of an injured party to shift the loss onto the party responsible for the loss.