Definitions for: Reinsurance


[n] 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"



Webster (1913) Definition: Re`in*sur"ance (-sh?r"ans), n.
1. Insurance a second time or again; renewed insurance.

2. A contract by which an insurer is insured wholly or in
part against the risk he has incurred in insuring somebody
else. See Reassurance.

See Also: coverage, insurance

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