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
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reinsurance::noun | Spocien Dictionary
| Type | Words |
|---|---|
| Type of | insurance |
| Derivation | reinsure |
reinsurance enables a client to get coverage that would be too great for any one company to assume.
Examples of reinsurance
reinsurance
Evaluates reinsurance treaties for corporate risk exposure and legal compliance.
From the jobview.monster.com
The combination of reinsurance arrangements would allow it to cover those claims.
From the news-journalonline.com
Ask him who, and he will suggest the reinsurance and Gulf oil-and-gas industries.
From the washingtonpost.com
Specific risk excess of loss reinsurance is purchased for each class of business.
From the hemscott.com
Insurers lay off some of the costs of their biggest claims by buying reinsurance.
From the thisismoney.co.uk
As a result of last year's devastating hurricanes, reinsurance capacity is tight.
From the economist.com
Rockhampton Rockhampton is a newly formed reinsurance company based in Gibraltar.
From the hemscott.com
What's more, Allstate now has reinsurance covering stormy states like Florida.
From the businessweek.com
The World Trade Centre attack is likely to create more demand for reinsurance.
From the economist.com
- 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"
- Reinsurance is insurance that is purchased by an insurance company (insurer) from a reinsurer as a means of risk management, to transfer risk from the insurer to the reinsurer. ...
- (Reinsured) an insurer who effects and is entitled to be indemnified under a contract of reinsurance.
- In effect, insurance that an insurance company buys for its own protection. The risk of loss is spread so a disproportionately large loss under a single policy doesn't fall on one company. ...
- A contract which one insurer makes with another to protect the first insurer, wholly or partially, against loss or liability by reason of a risk under a separate and distinct contract as insurer of a third party. ...
- A contractual relationship between two insurance companies under which one insurer assumes a portion of the risk of the insurance policy written by the other.
- Insurance purchased by a health plan to protect against extremely high medical costs, either for specific groups or individuals.
- The transfer of part of the insurance risk to another insurer or insurers--self-funded plans generally buy specific and/or aggregate stop-loss coverage to cover losses in excess of certain limits (also known as excess loss coverage). (See Attachment Point)
- Is a risk sharing operation, whereby the insurer obtains cover from a third party (the reinsurer) for part of the credit risks that it has guaranteed, in exchange for the payment of a premium.
