One of the mysteries of the English language finally explained.
(of an insurer) transfer (all or part of a risk) to another insurer to provide protection against the risk of the first insurance.
- ‘A reinsurer could, of course, make a special contract with an insurer and agree only to reinsure some of the risks covered by the policy of insurance, leaving the insurer to bear the full cost of the other risks.’
- ‘But in each case the whole of the risk was reinsured through the London market so that neither Colombian insurer retained any part of the risk themselves.’
- ‘They bought cover, often through bulk contracts off the big insurance giants, who in turn reinsured their risk elsewhere.’
- ‘Subtracting the amount reinsured, this company's net exposure on insurance written is $636 billion.’
- ‘The Reinsurers received almost two thirds of the whole premium for reinsuring only part of the risk.’
- ‘The other companies are telling us they will reinsure us.’
- ‘The industry reinsures mostly in South Africa and Europe at the moment.’
- ‘They could be in for nasty surprises because of direct exposure or the miscalculation of the quantities that they have reinsured, he said.’
- ‘An insurance company needs to reinsure its clients to minimize losses in case of incidents which result in claims.’
- ‘Like many retail insurers, they offer a custom package direct to buyers which is reinsured through a larger firm.’
- ‘They only reinsures about 0.05% of its policies.’
- ‘Property insurance and business interruption insurance have been the hardest hit, but employer liability insurance is also increasing as insurers are finding it harder to reinsure certain risks.’
- ‘They wish to be reinsured by the states because of the risk for them to suffer heavy financial losses.’
- ‘It is not for nothing that the laws of the land prescribe a minimal portion of the insurance business to be compulsorily reinsured with another insurer/reinsurer.’
- ‘Most insurance companies, Rosemary says, make sure that as a matter of course they reinsure their risks.’
- ‘The risks were widely reinsured across of pool of insurers.’
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