Reinsure (Verb)
Meaning 1
Provide additional insurance for.
Classification
Verbs of buying, selling, owning.
Examples
- The insurance company decided to reinsure a portion of its hurricane policy risks to mitigate potential losses.
- A reinsurer was hired to reinsure an especially high-value property in a area prone to wildfires.
- To minimize their financial exposure, the primary insurance provider chose to reinsure a significant percentage of their clients' cyclone damage claims.
- A specialized reinsurer was brought in to reinsure the liability risks associated with a large commercial airline company.
- A reinsurance agreement was reached to reinsure the earthquake policies held by the homeowners in the seismic zone.
Meaning 2
Insure again by assuming all or a part of the liability of an insurance company already covering a risk.
Classification
Verbs of telling, asking, ordering, singing.
Examples
- A primary insurer often reinsures a portion of its policies with a reinsurance company to mitigate potential losses.
- The reinsurance market can reinsure certain types of specialized risks that are too great for a primary insurer.
- In the insurance industry, reinsure usually means to buy insurance covering all or part of the liability already assumed.
- By choosing to reinsure, an insurance company transfers some of its risk to another insurer in exchange for premiums.
- Many large insurance companies reinsure with smaller specialty carriers to diminish their overall risk exposure.
Hypernyms
Meaning 3
Insure again by transferring to another insurance company all or a part of a liability assumed.
Classification
Verbs of telling, asking, ordering, singing.