Looking for the meaning of the word REINSURANCE in English for both noun and verb forms from the Oxford Dictionary? Below, you can explore all possible meanings and definitions of REINSURANCE with sentence examples. You can also use the “AUDIO PRONUNCIATION” track to check the correct pronunciation in British English.
Word: Reinsurance
Speech Type: Noun
Etymology:
early 18th century: from re- + insurance
Audio Pronunciation:
Phonetic Spelling:
ˌriːɪnˈʃʊərəns
Dialects: British English
Audio Pronunciation:
Phonetic Spelling:
ˌriːɪnˈʃɔːrəns
Dialects: British English
Definition:
an arrangement whereby an insurer transfers all or part of a risk to another insurer to provide protection against the risk of the first insurance
Short Definition:arrangement whereby insurer transfers risk to another insurer
Examples:- the incident will make it more difficult for them to secure international reinsurance for their clients
- the company has three types of reinsurance arrangement
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