REINSURANCE • DICCIONARIO INGLES.COM • Definition of Reinsurance

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/rˌiɪnʃˈʊrəns/ Listen

Reinsurance

noun

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.

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Etymology of 'Reinsurance'

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"Reinsurance" Quotes from Famous Books

... their views as to certain measures of policy. There was a difference of opinion as to German policy regarding Russia. Friendship with that country had been the policy of both Emperor William I and Bismarck, and the latter had effected a reinsurance treaty with Russia, stipulating for Russian neutrality in case of a war between Germany and France, notwithstanding the subsistence of the Triple Alliance between Germany, Austria, and Italy. The reinsurance treaty, which had been made for a period of three years, ...

— William of Germany • Stanley Shaw

... German Government asked for a covenant of absolute neutrality. This I could not look at. I had the same feeling about such an agreement for unconditional neutrality as Caprivi had when he was asked to renew the Reinsurance Treaty which Bismarck made with Russia at Skiernevice in 1884, and under which, notwithstanding that Germany might come to owe a duty to Austria to support her as her military Ally, he bound Germany to observe neutrality in case Russia ...

— Before the War • Viscount Richard Burton Haldane