reinsurance
🇺🇸
/ˌriːɪnˈʃʊrəns/
🇬🇧
/ˌriːɪnˈʃʊərəns/
noun
R
A way for insurance companies to protect themselves by buying insurance from another company to cover their possible losses.
The insurance company decided to purchase reinsurance to safeguard against potential massive payouts.
translation
A way for insurance companies to protect themselves by buying insurance from another company to cover their possible losses.
Word Forms
Plural
reinsurances