Reinsurance

Business, Legal & Accounting Glossary

Definition: Reinsurance



What is the dictionary definition of Reinsurance?

Dictionary Definition


An agreement by which one insurer indemnifies another insurer in part, or in total, for the risks of a policy issued by that other insurer.


Full Definition of Reinsurance


Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself from risk in the event of a major claim.


Examples of Reinsurance in a sentence


When a reinsurer purchases reinsurance, it’s call retrocession.
Insurers can protect themselves against potential unforeseen catastrophes through reinsurance.
They are accurately measure the economic benefits related to the reinsurance contract.
BDO Stoy Hayward is about to acquire a new subsidiary, Zurich Reinsurance Centre.
The company is currently in dispute with Eagle Star over £1.6 million worth of reinsurance claims.
These new results are of important significance to the steady operation of reinsurance companies.
The current regulations are to apply to all reinsurance contracts issued and held by insurers.


Synonyms For Reinsurance


reassurance, reinsurer, re-insurance, re insurance

Cite Term


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Page URL
https://payrollheaven.com/define/reinsurance/
Modern Language Association (MLA):
Reinsurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 06, 2020 https://payrollheaven.com/define/reinsurance/.
Chicago Manual of Style (CMS):
Reinsurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/reinsurance/ (accessed: July 06, 2020).
American Psychological Association (APA):
Reinsurance. PayrollHeaven.com. Retrieved July 06, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/reinsurance/

Definition Sources


Definitions for Reinsurance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th January, 2020 | 3 Views.