reinsurance
noun
re·in·sur·ance
| \ ˌrē-ən-ˈshu̇r-ən(t)s
, ˌrē-ən-ˈshər- also (ˌ)rē-ˈin-ˌshu̇r-, (ˌ)rē-ˈin-ˌshə̇r-\
, ˌrē-ən-ˈshər- also (ˌ)rē-ˈin-ˌshu̇r-, (ˌ)rē-ˈin-ˌshə̇r-\
Definition of reinsurance
: 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
Montana Helena: State officials say U.S. health officials have approved Montana’s plan to create a reinsurance pool that aims to lower individual health insurance premium costs. — USA TODAY, "Burro bandits, sugarcane shake-up, naked bike ride: News from around our 50 states," 26 Aug. 2019 The measure included reinsurance, cost monitoring measures, a request to the federal government to allow safe drug re-importation and incentives for more healthy people to join the insurance pool. — Stephen Singer, courant.com, "In summer doldrums, negotiations to begin for renewed push for Connecticut health insurance reform," 23 July 2019 Colorado is the ninth state to secure a federal waiver for a reinsurance program. — Anna Staver, The Denver Post, "Colorado gets federal OK for program expected to lower marketplace health care premiums 18%," 31 July 2019 Insurance and reinsurance companies are paying particular attention, because these calculations help them reassess risk levels. — The Economist, "Greenhouse-gas emissions are increasing the frequency of heatwaves," 25 July 2019 Minnesota’s reinsurance program, for example, dropped its individual premiums by 11.3% and Alaska’s declined by 26%. — Jessica Seaman, The Denver Post, "Colorado’s health exchange premiums expected to drop 18% – if feds approve reinsurance," 16 July 2019 One example: Use reinsurance programs – an insurance pool for insurers – to lower monthly insurance premiums. — Ken Alltucker, USA TODAY, "'It's a great slogan, but it's not workable:' Health insurers pan Joe Biden, Bernie Sanders health fixes," 16 July 2019 Analysts say settling all these cases could be the largest non-war aviation reinsurance claim on record, and could run up to at least $1 billion according to a Bloomberg Intelligence estimate. — Abdi Latif Dahir, Quartz Africa, "Boeing is dedicating $100 million to families and communities affected by the 737 Max crashes," 3 July 2019 By seeking a reinsurance waiver, Walker is taking a step to make the private marketplace in Wisconsin more stable and affordable for more than 200,000 people in it. — Scott Bauer, The Seattle Times, "Walker, in turnabout, moves to stabilize insurance market," 21 Jan. 2018These example sentences are selected automatically from various online news sources to reflect current usage of the word 'reinsurance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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More Definitions for reinsurance
reinsurance
noun
re·in·sur·ance
| \ ˌrē-ən-ˈshu̇r-əns, -ˈin-ˌshu̇r-
\
\
Legal Definition of reinsurance
: 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