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
“reinsurance enables a client to get coverage that would be too great for any one company to assume”
promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
Cite this entry
Style:
MLA
MLA
APA
Chicago
Copy citation
DISCLAIMER: These example sentences appear in various news sources and books to reflect the usage of the word ‘reinsurance'.
Views expressed in the examples do not represent the opinion of Vocabulary.com or its editors.
Send us feedback
Word Family
2 million people are mastering new words.Master a word
Sign up now (it’s free!)
Whether you’re a teacher or a learner, Vocabulary.com can put you or your class on the path to systematic vocabulary improvement.