meaning of reinsurance
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.
3. sharing the risk by insurance companies; part or all of the insurers 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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