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Indemnification (Noun)

A sum of money paid in compensation for loss or injury.

Nouns denoting possession and transfer of possession.

The company agreed to provide indemnification to the victims of the accident, paying out millions of dollars in compensation.
As part of the settlement, the insurance company offered indemnification to the family of the deceased for their emotional distress.
The indemnification clause in the contract protected the contractor from liability for any damages or losses incurred during the project.
The government provided indemnification to farmers who had lost crops due to the severe weather conditions, helping them to recover their losses.
The employer offered indemnification to the employee who had been injured on the job, covering his medical expenses and lost wages.