Reinsurance - definition, pronunciation, transcription

Amer.  |ˌriˌɪnˈʃʊrəns|  American pronunciation of the word reinsurance
Brit.  |ˌriːɪnˈʃuːrəns|  British pronunciation of the word 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

reinsurance enables a client to get coverage that would be too great for any one company to assume

Examples

They provide reinsurance to insurance companies.

reinsurance enables a client to get coverage that would be too great for any one company to assume

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