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reinsure

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verb re·in·sure \ˌrē-ən-ˈshu̇r\

Simple Definition of reinsure

  • : to insure (something) again so that the insurance is shared by more than one company

Full Definition of reinsure

  1. transitive verb
  2. 1 :  to insure again by transferring to another insurance company all or a part of a liability assumed

  3. 2 :  to insure again by assuming all or a part of the liability of an insurance company already covering a risk

  4. intransitive verb
  5. :  to provide increased insurance

re·in·sur·er noun

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