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

Insurers buy reinsurance to protect themselves from catastrophic events that could put them out of business.

From Los Angeles Times

Lara also plans to allow insurers for the first time to include in the cost of homeowner premiums reinsurance they buy from large firms to protect their own bottom line from catastrophic events.

From Los Angeles Times

The executive actions include allowing insurers to include the cost of reinsurance they buy to protect themselves from catastrophes into the price of homeowners premiums.

From Los Angeles Times

The department plans to review coverage by insurers that seek to include the cost of reinsurance and use the new computer models to ensure they are writing insurance in distressed areas.

From Los Angeles Times

Insurance companies are also paying more for “reinsurance,” which is bought as a hedge against catastrophic losses by reducing their exposure to large claims.

From Seattle Times