Reinsurance

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Reinsurance

The spreading of risk and division of client premiums among insurance companies allowing the sharing of the burden of a large risk.

Reinsurance

An insurance policy for insurers. In reinsurance, one insurer cedes a portion of its portfolio of policyholders to another insurer in exchange for paying a fee. There exists the possibility that too many policyholders will make a claim and a single insurer will be unable to pay the benefit without ruining itself. This is especially true for disaster insurance and other similar policies. Reinsurance reduces this risk. It is also called stop-loss insurance.

reinsurance

see INSURANCE COMPANY.
References in periodicals archive ?
Rerouting the Business through this mode, ends the insurer with no re-insurance but given to believe that he had been covered.
In 2007, the Egyptian Re-insurance Company was merged with Egypt's Insurance Company, forming a department of re-insurance.
Commodities occupy a difficult niche within the marine market, and underwriters are often required to refer back to the home office for support and/or re-insurance.
Directors said they and their advisers were still investigating how much money should be set aside for 'technical provisions' as well as problems connected with re-insurance contracts reported last week.
The French insurance group Groupama has transferred its Sorema re-insurance activities to the French re-insurance group Scor through an exchange of shares, making it the leading shareholder in Scor with 17.
The suit, filed in Los Angeles Superior Court, alleges American Re-Insurance Co.
Insurers purchase catastrophe re-insurance against natural disasters (such as hurricane, earthquake, freezing weather conditions, and the like) to offset losses triggered by such events on the policies they write.
In 1986, after more than 50 years as a tenant in downtown Manhattan, American Re-Insurance Company, the nation's second largest property re-insurer, decided it was time for a change.
The specialty finance sector includes equipment rental/leasing companies, specialty insurance and re-insurance companies, and other finance companies specializing in areas such as payday lending, title lending, and mortgage lending.
Contract award: conclusion of re-insurance to fund future persionslasten of tenured employees.
A Chinese supertanker loaded up on crude at Kharg Island last month, the first non-Japanese foreign tanker cited loading Iranian oil since the EU barred re-insurance of tankers carrying Iranian oil last July 1.
Qatar Insurance Company's re-insurance subsidiary Q-Re will soon establish operations in Zurich and Bermuda as part of a "significant" step onto the global insurance business.