Source : Webster's Revised Unabridged Dictionary (1913)

Impunity \Im*pu"ni*ty\, n. [L. impunitas, fr. impunis without
   punishment; pref. im- not + poena punishment: cf. F.
   impunit['e]. See {Pain}.]
   Exemption or freedom from punishment, harm, or loss.

         Heaven, though slow to wrath, Is never with impunity
         defied.                                  --Cowper.

         The impunity and also the recompense.    --Holland.

Source : WordNet®

impunity
     n : exemption from punishment or loss