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reinsurance

DEFINITIONS OF: reinsurance

1

n sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured

reinsurance enables a client to get coverage that would be too great for any one company to assume”
Type of:
insurance
promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
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USAGE EXAMPLES