indemnification vs indemnity

indemnification and indemnity both are nouns.

Word	Noun	Adjective	Verb	Adverb
indemnification	Yes	No	No	No
indemnity	Yes	No	No	No

As nouns, indemnification and indemnity are synonyms defined as:

indemnification and indemnity: a sum of money paid in compensation for loss or injury

Other synonyms of indemnification include amends, damages, redress, restitution.

indemnification (noun)	indemnity (noun)
an act of compensation for actual loss or damage or for trouble and annoyance	a sum of money paid in compensation for loss or injury
a sum of money paid in compensation for loss or injury	legal exemption from liability for damages
	protection against future loss