reinsurance

noun
re·​in·​sur·​ance | \ ˌrē-ən-ˈshu̇r-ən(t)s How to pronounce reinsurance (audio) , ˌrē-ən-ˈshər- also (ˌ)rē-ˈin-ˌshu̇r-, (ˌ)rē-ˈin-ˌshə̇r- \

Definition of reinsurance

: insurance by another insurer of all or a part of a risk previously assumed by an insurance company

Examples of reinsurance in a Sentence

Recent Examples on the Web Asia’s insurance and reinsurance firms have traditionally lagged behind their European peers in terms of climate commitments and coal divestments. Yvonne Lau, Fortune, 7 Dec. 2021 Second, Congress should create a reinsurance program that funds a portion of high-cost claims. Josh Archambault, Forbes, 8 Nov. 2021 But our solution set is much broader than just reinsurance. Jeff Thomson, Forbes, 5 Nov. 2021 Reducing the amount of losses — from $8.8 billion to $4.5 billion — that the insurance industry must suffer before being allowed to tap into the fund would reduce the amount of reinsurance companies must buy. Ron Hurtibise, sun-sentinel.com, 24 Oct. 2021 For example, when a number of reinsurance companies stopped backing payments for security deposit claims, Rhino was able to put guardrails in place in their policies to protect their business while still benefiting renters. Gary Drenik, Forbes, 21 Sep. 2021 Capital funds invest in reinsurance to diversify their portfolios. Ron Hurtibise, sun-sentinel.com, 13 Sep. 2021 In addition to its insurance brokerage arm Marsh, Marsh McLennan also runs the reinsurance business Guy Carpenter & Co. and offers consulting services through Mercer LLC and Oliver Wyman Inc. Dylan Tokar, WSJ, 7 Sep. 2021 So, the reinsurance program would be on top of the federal government’s covering 85 percent of the premium. Brian Blase, National Review, 12 Oct. 2021

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.

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First Known Use of reinsurance

1705, in the meaning defined above

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Time Traveler for reinsurance

Time Traveler

The first known use of reinsurance was in 1705

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Dictionary Entries Near reinsurance

reinstitutionalization

reinsurance

reinsurance reserve

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Statistics for reinsurance

Last Updated

11 Jan 2022

Cite this Entry

“Reinsurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/reinsurance. Accessed 19 Jan. 2022.

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More Definitions for reinsurance

reinsurance

noun
re·​in·​sur·​ance | \ ˌrē-ən-ˈshu̇r-əns, -ˈin-ˌshu̇r- How to pronounce reinsurance (audio) \

Legal 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 sense 3

More from Merriam-Webster on reinsurance

Britannica.com: Encyclopedia article about reinsurance

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