Reinsurance - definition, pronunciation, transcription
Amer.
|ˌriːɪnˈʃʊrəns|
Brit.
|ˌriːɪnˈʃʊərəns|
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
Extra examples
They provide reinsurance to insurance companies.
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