Definition of reinsurance
: insurance by another insurer of all or a part of a risk previously assumed by an insurance company
Recent Examples of reinsurance from the Web
Those requests were dialed back considerably, mostly due to a state reinsurance program that took effect after the initial filings.
But due to Alaska's reinsurance program, the state expects Premera to file for a state rate decrease in 2018, according to the state's Division of Insurance.
But due to Alaska’s reinsurance program, the state expects Premera to file for a state rate decrease in 2018, according to the state’s Division of Insurance.
Citizens officials credited past annual increases in wind-only rates along with lowered costs of reinsurance --- backup insurance for insurers --- for those policies being more actuarially sound when compared to costs on the private market.
Kaine and Senator Tom Carper of Delaware on Wednesday introduced legislation to create a reinsurance program to help insurers offset the cost of covering older, less healthy customers.
The program recently bought reinsurance for the first time.
Well, officials in charge of the fund are considering buying $68 million worth of reinsurance, which would kick in an extra billion dollars if the fund has to shell out more than $10.5 billion in payments.
Williams said coverage could be purchased without impacting the overall reinsurance market.
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First Known Use of reinsurance
Legal Definition of reinsurance
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