Meaning & use
Reinsured
Last updated
Obtained or provided insurance covering the risks that an insurance company itself has already underwritten.
See it in a sentence
The insurer reinsured a portion of its hurricane exposure to limit potential losses.
After the disaster, several carriers reinsured their remaining policies at much higher rates.
A note on using this word
Reinsurance lets an insurance company spread catastrophic risk across other insurers, so no single claim can bankrupt it.
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