verb
- to insure again or provide additional insurance coverage for something already insured
Usage: insurance industry term
Examples
- The insurance company reinsures high-risk policies with larger firms.
- Our provider reinsures major claims to spread the financial risk.
- The company reinsures its most expensive policies internationally.
- When catastrophic losses occur, the firm reinsures through multiple carriers.
- The agency reinsures commercial properties worth over ten million dollars.
- Lloyd’s of London often reinsures unusual or high-value items.