Word
reinsurance
Phoneticsrein·sur·ance
US/ˌɹiɪnˈʃʊɹəns/
UK/ɹˌiːɪnʃˈɔːɹəns/
Uncountable noun
Definition
n. insurance that a company buys to protect itself from very large losses. It helps the company stay safe if it has to pay a huge amount of money to a customer.
n. insurance purchased by an insurance company to protect itself against large or unexpected losses. It allows the primary insurer to transfer part of its risk to another entity.
Examples
“The company buys reinsurance to cover major disasters.”
“After the hurricane, the primary insurer relied on its reinsurance partners to cover the massive claims from damaged properties.”
“The stability of the global insurance market depends heavily on the robustness of the reinsurance sector, which acts as a secondary safety net for primary carriers facing systemic risk.”
Examples
simple
“The company buys reinsurance to cover major disasters.”
contextual
“After the hurricane, the primary insurer relied on its reinsurance partners to cover the massive claims from damaged properties.”
complex
“The stability of the global insurance market depends heavily on the robustness of the reinsurance sector, which acts as a secondary safety net for primary carriers facing systemic risk.”
Real-World Examples
“Tokyo’s proposed response is a state reinsurance mechanism that would help keep Japanese shipping covered when private markets retreat.” “But they shared one thing: a small insurer headquartered in New Zealand, backstopped by some of the world's biggest reinsurance firms.” Etymology
From re- + insurance.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
Word family
VERB
NOUN
Domain
- Exam level
- CambridgeCambridgeCambridge English QualificationsThe exam suite from Cambridge University Press & Assessment, from A1 Movers up to C2 Proficiency. The benchmark names double as CEFR labels.C1 AdvancedIELTSIELTSInternational English Language Testing SystemThe 0–9 band test co-owned by the British Council, IDP, and Cambridge. Used for university entry, work, and migration.7.0–8.0TOEFL iBTTOEFL iBTTest of English as a Foreign Language, Internet-Based TestETS's academic English test, the standard route for US university admissions. Scored 0–120, with a 1–6 scale since 2026.1–6 scale: 5.0–5.595–113TOEICTOEICTest of English for International CommunicationETS's workplace English test, big in Japan and Korea. Listening & Reading scores 10–990 and tops out at C1.945–990
- Frequency
- Occasional
- Level
- C1 · Advanced
- Updated
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QR code
englishreference.com/q/reinsurance