Compensation regarding a frock (7)
I believe the answer is:
redress
'compensation' is the definition.
(redress is a kind of compensation)
'regarding a frock' is the wordplay.
'regarding' becomes 're' (re can mean regarding, concerning).
'a frock' becomes 'dress' ('dress' can be a synonym of 'frock').
're'+'dress'='REDRESS'
(Other definitions for redress that I've seen before include "Prepare again - satisfaction" , "Make amends for" , "relief" , "set straight again" , "Get back into gear" .)