The sharing of insurance policies among multiple insurers, to reduce the risk for each.

Use reinsurance in a sentence

The insurance companies decided to go in together on a reinsurance policy. They figured sharing the risk was a much better decision for them.

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My insurance company was not worried about the possibility of heavy losses after the hurricane hit because it had signed reinsurance contracts with other insurance companies that would spread out any loss.

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The new business was in such a bad location that the board members agreed reinsurance was the best plan, as none of them wanted to be solely responsible for the insurance.

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cede facultative reinsurance