indemnity

Short definition from Wiktionary

Noun

1. 1
   Security from damage, loss, or penalty.
2. 2
   An obligation or duty upon an individual to incur the losses of another.
3. 3
   Repayment; compensation for loss or injury.
4. 4
   The right of an injured party to shift the loss onto the party responsible for the loss.
5. 5
   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.