reinsurance

[ree-in-shoor-uhns, -shur-]

noun

1. the process or business of reinsuring.

Word History and Origins

Origin of reinsurance¹

First recorded in 1745–55; re- + insurance

Example Sentences

Consumer Watchdog, he noted, worked on a bill that would have leveraged the state’s credit rating to assist in lowering the cost of reinsurance, which is bought by insurers to protect themselves from catastrophic claims.

From Los Angeles Times

Shadow business secretary Andrew Griffith welcomed the government's support but said it "took too long to get there" and called on Labour to form a cyber reinsurance scheme to protect British businesses from state-backed actors.

From BBC

State Farm has said it expects claims payments to top $7 billion from the Jan. 7 fires, but losses under $700 million due to reinsurance agreements with its parent company.

From Los Angeles Times

The insurer has said it expects claims payments to top $7 billion from the Jan. 7 fires, but losses under $700 million due to reinsurance agreements with its parent company.

From Los Angeles Times

The insurer has estimated the fires will cost it $7.6 billion but said reinsurance payments largely from its parent will lower its losses to about $612 million.

From Los Angeles Times