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Noun: reinsurance  ,ree-in'shûr-un(t)s
  1. 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
    "reinsurance enables a client to get coverage that would be too great for any one company to assume"

Derived forms: reinsurances

Type of: insurance

Encyclopedia: Reinsurance