| NOUN | possession | reinsurance | sharing the risk by insurance companies |
|---|
| Sounds | riy.ihnshuh'rahns | |
|---|---|---|
| Rhymes | abeyance ... virulence: 273 rhymes with ahns... | |
| Meaning | 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. | |
|---|---|---|
| Example | "reinsurance enables a client to get coverage that would be too great for any one company to assume" | |
| Broader | insurance | promise of reimbursement in the case of loss |
| Spanish | reaseguro | |
| Catalan | reassegurança | |
| Verbs | reinsure | insure again by transferring to another insurance company all or a part of a liability assumed |
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