reinsurance

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noun re·in·sur·ance \ˌrē-ən-ˈshu̇r-ən(t)s also (ˌ)rē-ˈin-ˌ\

Definition of reinsurance

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

1705

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

  1. :  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


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