The Collaborative International Dictionary of English v.0.48:

Indemnification \In*dem`ni*fi*ca"tion\, n.
   1. The act or process of indemnifying, preserving, or
      securing against loss, damage, or penalty; reimbursement
      of loss, damage, or penalty; the state of being
      indemnified.
      [1913 Webster]

            Indemnification is capable of some estimate; dignity
            has no standard.                      --Burke.
      [1913 Webster]

   2. That which indemnifies.
      [1913 Webster]

            No reward with the name of an indemnification. --De
                                                  Quincey.
      [1913 Webster]

WordNet (r) 3.0 (2006):

indemnification
    n 1: a sum of money paid in compensation for loss or injury
         [syn: damages, amends, indemnity, indemnification,
         restitution, redress]
    2: an act of compensation for actual loss or damage or for
       trouble and annoyance

Moby Thesaurus II by Grady Ward, 1.0:

56 Moby Thesaurus words for "indemnification":
   amends, atonement, balancing, blood money, commutation,
   compensation, composition, compromise, consideration,
   counteraction, counterbalancing, damages, expiation,
   expiatory offering, guerdon, honorarium, indemnity, lex talionis,
   making amends, making good, making right, making up, meed,
   offsetting, paying back, peace offering, piaculum, price,
   propitiation, quittance, reclamation, recompense, rectification,
   redemption, redress, refund, reimbursement, remuneration,
   reparation, repayment, reprisal, requital, requitement,
   restitution, retaliation, retribution, return, revenge, reward,
   salvage, satisfaction, smart money, solatium, squaring,
   substitution, wergild