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Definition of reinsurance
: insurance by another insurer of all or a part of a risk previously assumed by an insurance company
From the M-W Editors
Recent Examples of reinsurance from the Web
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Those requests were dialed back considerably, mostly due to a state reinsurance program that took effect after the initial filings.
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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.
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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.
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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.
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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.
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The program recently bought reinsurance for the first time.
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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.
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Williams said coverage could be purchased without impacting the overall reinsurance market.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'reinsurance'. Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of reinsurance
1705
Law Dictionary
reinsurance
playLegal Definition of reinsurance
: insurance or indemnification by a second insurer of all or part of a risk assumed by another insurer as contracted for by the first insurer — see also cede — compare direct insurance, retrocession 3
Learn More about reinsurance
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See words that rhyme with reinsurance Britannica.com: Encyclopedia article about reinsurance
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