Definition of reinsurance
:insurance by another insurer of all or a part of a risk previously assumed by an insurance company
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Recent Examples of reinsurance from the Web
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Reed and Gottheimer pair this proposal with one for a dedicated stability fund — essentially, money for reinsurance — that states could tap when their sickest residents amass medical bills that threaten to drive up premiums for everyone else.
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The bill also seeks to bolster the health insurance exchanges created under Obamacare by increasing subsidy payments to low-income customers who purchase plans and reintroducing reinsurance payments to insurers who sell plans.
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Alaska has a reinsurance program designed to keep premiums down, and was recently granted a waiver by the federal government for some of its spending on high-cost medical bills.
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Reinsurance programmes would bring premiums down and begin to redress the imbalance.
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While reinsurance is an idea being promoted by a group of centrist House Democrats, there’s nothing about it that’s offensive to progressives.
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Cohen, who helped launch the exchanges in 2014 as an official in the Obama administration, noted that the Republican bills in both the House and Senate included money for reinsurance that can help lower premiums industrywide.
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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.
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
play
noun
re·in·sur·ance
\
ˌrē-ən-ˈshu̇r-əns, -ˈin-ˌshu̇r-
\
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 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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