Source : Webster's Revised Unabridged Dictionary (1913)

Indemnity \In*dem"ni*ty\, n.; pl. {Indemnities}. [L. indemnitas,
   fr. indemnis uninjured: cf. F. indemnit['e]. See
   {Indemnify}.]
   1. Security; insurance; exemption from loss or damage, past
      or to come; immunity from penalty, or the punishment of
      past offenses; amnesty.

            Having first obtained a promise of indemnity for the
            riot they had committed.              --Sir W.
                                                  Scott.

   2. Indemnification, compensation, or remuneration for loss,
      damage, or injury sustained.

            They were told to expect, upon the fall of Walpole,
            a large and lucrative indemnity for their pretended
            wrongs.                               --Ld. Mahon.

   Note: Insurance is a contract of indemnity. --Arnould. The
         owner of private property taken for public use is
         entitled to compensation or indemnity. --Kent.

   {Act of indemnity} (Law), an act or law passed in order to
      relieve persons, especially in an official station, from
      some penalty to which they are liable in consequence of
      acting illegally, or, in case of ministers, in consequence
      of exceeding the limits of their strict constitutional
      powers. These acts also sometimes provide compensation for
      losses or damage, either incurred in the service of the
      government, or resulting from some public measure.