reinsurance

noun
re·in·sur·ance | \ˌrē-ən-ˈshu̇r-ən(t)s, 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

In Oregon, rates are about 7 percent lower thanks to reinsurance, the committee was told. Scott Bauer, The Seattle Times, "Walker’s reinsurance plan wins support from insurers, others," 12 Feb. 2018 In exchange for those referrals, insurers bought reinsurance, a sort of insurance for insurers, from PHH’s subsidiaries, and PHH took those fees as kickbacks. Emily Stewart, Vox, "Consumer advocacy groups are extremely worried about Brett Kavanaugh," 11 July 2018 Unfortunately, only about one-third of those losses were insured, according to Monica Ningen, head of property underwriting for the United States and Canada with the reinsurance company Swiss Re. Brandon Miller And Jennifer Gray, CNN, "Five lessons of the extraordinary 2017 hurricane season," 1 June 2018 The state is proposing to establish a $462 million reinsurance fund with money raised by a state levy on insurance companies plus some federal funds. Andrea K. Mcdaniels, baltimoresun.com, "Maryland program to stabilize Obamacare hits snag over dispute about payments to insurers," 18 May 2018 In Minnesota, which created a reinsurance program to help pay for customers’ expensive medical conditions, carriers are actually seeking lower premiums. Reed Abelson, New York Times, "Obamacare Is Proving Hard to Kill," 3 July 2018 The Maryland General Assembly just passed legislation calling for a reinsurance program. Amy Goldstein, Washington Post, "States act on their own to fill holes Washington is knocking in Affordable Care Act," 1 July 2018 Those two insurance companies, in turn, buy reinsurance from Mariner's offshore affiliate, called MFI Insurance. Peter Whoriskey, courant.com, "Unsolicited checks can be a lifeline and an albatross," 2 July 2018 The increase is a turnaround from the previous six years of reinsurance rate decreases. Ron Hurtibise, Sun-Sentinel.com, "Finally, a bit of good news about insurance rates: 'Once in a while, Florida gets lucky'," 4 June 2018

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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Last Updated

16 Oct 2018

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The first known use of reinsurance was in 1705

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More Definitions for reinsurance

reinsurance

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 sense 3

More from Merriam-Webster on reinsurance

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Britannica.com: Encyclopedia article about reinsurance

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