What is the meaning of reinsurance?

noun

  • Sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured.
    • usage: "reinsurance enables a client to get coverage that would be too great for any one company to assume"
WordNet 3.0 © 2006 by Princeton University
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APAWordNet. (2010). reinsurance. Retrieved September 22, 2026, from http://smartdefine.org/reinsurance/definitions/1242915
ChicagoWordNet. 2010. "reinsurance" http://smartdefine.org/reinsurance/definitions/1242915 (accessed September 22, 2026).
HarvardWordNet 2010, reinsurance, Smart Define, viewed 22 September, 2026, <http://smartdefine.org/reinsurance/definitions/1242915>.
MLAWordNet. "reinsurance" 23 October 2010. Web. 22 September 2026. <http://smartdefine.org/reinsurance/definitions/1242915>
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