Indemnity (noun)

1. Protection against financial loss or liability.
2. Compensation for a loss or damage.

Origin:

From latin indemnitatem, from indemnis (unharmed, safe).

Examples:

1. The company offered an indemnity to the employees in case of accidents on the job.
2. He demanded an indemnity for the damages caused to his property.
3. The contract includes an indemnity clause to protect both parties from financial loss.
4. The insurance policy provided indemnity against damage to the car.
5. The indemnity was used to compensate the employee for the loss of income.