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reinsurance - Meaning and Examples

Meaning of 'reinsurance' (Webster Dictionary)

1 . Reinsurance [ n.]
- Insurance a second time or again; renewed insurance.
- A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See Reassurance.

Meaning of 'reinsurance' (Princeton's WordNet)

1 . reinsurance [ n]
Meaning (1):
- sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured
Example in sentence:
  • reinsurance enables a client to get coverage that would be too great for any one company to assume

Nearby Words:

rei reichsrath reichsstand reichstag reif reigle reiglement reign reigned reigner

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