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reinsurance |
2 definitions found From Webster's Revised Unabridged Dictionary (1913) [web1913]: Reinsurance \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}. From WordNet r 1.6 [wn]: 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"
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