verb🔗ShareTo insure again (extending or replacing prior insurance)."The small insurance company couldn't afford to pay for a major earthquake, so it decided to reinsure its policies with a larger, international company. "businessfinanceinsuranceChat with AIVocabulary GamePractice Reading
verb🔗ShareTo place insurance on the contract that insures something (allowing the insurer to offset risk in the same way the insuree did)."Because the local insurance company faced significant risk insuring the new skyscraper, they decided to reinsure the policy with a larger, national firm to protect themselves from a catastrophic loss. "businessfinanceinsuranceChat with AIVocabulary GamePractice Reading
