reinsurance

reinsurance
re·in·sur·ance /ˌrē-ən-'shu̇r-əns, -'in-ˌshu̇r-/ n: 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 3

Merriam-Webster’s Dictionary of Law. . 1996.

reinsurance
index coverage (insurance)

Burton's Legal Thesaurus. . 2006


reinsurance
Where the original insurer relieves itself of part or all of an insurance risk by passing it on to another insurance company in return for the payment of a premium. For major risks, there will typically be a reinsurance chain, with each re-insurer passing part of its risk to other re-insurers, and so on. The reinsurance market enables insurance companies to spread their risk or to limit their exposure to a particular risk.
Related links
insurance block exemption

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


reinsurance
The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract.

Dictionary from West's Encyclopedia of American Law. 2005.


reinsurance
The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • Reinsurance — is a means by which an insurance company can protect itself against the risk of losses with other insurance companies. Individuals and corporations obtain insurance policies to provide protection for various risks (hurricanes, earthquakes,… …   Wikipedia

  • Reinsurance — Re in*sur ance ( sh?r ans), n. 1. Insurance a second time or again; renewed insurance. [1913 Webster] 2. A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See {Reassurance}.… …   The Collaborative International Dictionary of English

  • reinsurance — The spreading of risk and division of client premiums among insurance companies allowing the sharing of the burden of a large risk. Bloomberg Financial Dictionary * * * reinsurance re‧in‧sur‧ance [ˌriːɪnˈʆʊərəns ǁ ˈʆʊr ] noun [uncountable]… …   Financial and business terms

  • reinsurance — The passing of all or part of an insurance risk that has been covered by an insurer to another insurer in return for a premium. The contract between the parties is usually known as a reinsurance treaty. The policyholder is usually not aware that… …   Big dictionary of business and management

  • reinsurance — persidraudimas statusas Aprobuotas sritis perdraudimo veikla apibrėžtis Draudimo įmonės veikla, kai draudimo įmonė prisiimtą draudimo riziką perduoda kitoms draudimo (perdraudimo) įmonėms (perdraudikams). atitikmenys: angl. ceded reinsurance;… …   Lithuanian dictionary (lietuvių žodynas)

  • Reinsurance — The practice of insurers transferring portions of risk portfolios to other parties by some form of agreement in order to reduce the likelihood of having to pay a large obligation resulting from an insurance claim. The intent of reinsurance is for …   Investment dictionary

  • reinsurance — perdraudimo veikla statusas Aprobuotas sritis draudimo veikla apibrėžtis Ūkinė komercinė veikla, kuria prisiimama draudiko ar perdraudiko perduodama rizika. Perdraudimo veikla taip pat yra veikla, kai draudimo ar perdraudimo įmonė, išskyrus… …   Lithuanian dictionary (lietuvių žodynas)

  • reinsurance — A contract by which an insurer procures a third person to insure him against loss or liability by reason of original insurance. A contract that one insurer makes with another to protect the latter from a risk already assumed. It binds the… …   Black's law dictionary

  • reinsurance — noun 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… …   Useful english dictionary

  • Reinsurance sidecar — Reinsurance sidecars, conventionally referred to as Sidecars, are financial structures which are created to allow investors to take on the risk and return of a group of insurance policies (a book of business ) written by an insurer or reinsurer… …   Wikipedia

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