reinsurance

noun

re·​in·​sur·​ance ˌrē-ən-ˈshu̇r-ən(t)s How to pronounce reinsurance (audio)
ˌrē-ən-ˈshər-,
 also  (ˌ)rē-ˈin-ˌshu̇r-,
(ˌ)rē-ˈin-ˌshə̇r-
: insurance by another insurer of all or a part of a risk previously assumed by an insurance company

Examples of reinsurance in a Sentence

Recent Examples on the Web
These examples are automatically compiled from online sources to illustrate current usage. Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
By learning from each incident and anticipating future challenges, insurance and reinsurance firms can better serve their clients and strengthen their market positions in an increasingly digital world. Matt Cullina, Forbes, 14 Oct. 2024 These plans typically expect monthly reinsurance, which means Medicare payments cover part of the costs of prescription drugs when the catastrophic threshold is reached. Shirleen Guerra | The Center Square, Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government, 6 Oct. 2024 Only 941 of 140,000 housing units in the county had active flood insurance policies, according to Swiss Re, a global insurance and reinsurance company. Eduardo Cuevas, USA TODAY, 6 Oct. 2024 To spread that risk, insurance companies will together get reinsurance policies that help pay major claims. Alan Neuhauser, Axios, 6 Sep. 2024 See all Example Sentences for reinsurance 

Word History

First Known Use

1705, in the meaning defined above

Time Traveler
The first known use of reinsurance was in 1705

Dictionary Entries Near reinsurance

Cite this Entry

“Reinsurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/reinsurance. Accessed 8 Nov. 2024.

Legal Definition

reinsurance

noun
re·​in·​sur·​ance ˌrē-ən-ˈshu̇r-əns, -ˈin-ˌshu̇r- How to pronounce reinsurance (audio)
: insurance or indemnification by a second insurer of all or part of a risk assumed by another insurer as contracted for by the first insurer see also cede compare direct insurance, retrocession sense 3

More from Merriam-Webster on reinsurance

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