Woman entitled to conceal a grand loss (6)

I believe the answer is:

damage

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'loss' is the definition.
(damage is a kind of loss)

I don't understand how the rest of the clue works.

(Other definitions for damage that I've seen before include "Impair or cause injury to" , "Impairment, injury" , "Harm, impair" , "Harm, injury" , "'Deface, impair (6)'" .)

I've seen this clue in The Guardian.

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