Reinsurance
Definition, Meaning & Examples
Pronunciation /ˌɹi.ɪnˈʃʊɹ.əns/ · Part of speech noun
Quick meaning: Reinsurance is a noun meaning (business, insurance) Insurance purchased by insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized. Such insurance and catastrophe bonds are backstops to insurer insolvency from unexpectedly large losses.
Meaning
(business, insurance) Insurance purchased by insurance companies that spreads the risk associated with selling insurance around so the danger of one large monetary loss is minimized. Such insurance and catastrophe bonds are backstops to insurer insolvency from unexpectedly large losses.
Example Sentences
Catastrophe modeling firm AIR Worldwide (AIR) today announced that Sompo International, a global specialty provider of property and casualty insurance and reinsurance, is leveraging AIR's casualty analytics platform, Arium, to better understand and quantify its liability and loss potential across multiple commercial liability lines of business.
Word Forms
- reinsurances
Related Words
Related dictionary entries include insurance, assurance, reassurance, facultative, reassurances, reinsurers.
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Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
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