reinsurance(redirected from Facultative reinsurance)
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Related to Facultative reinsurance: Quota Share Reinsurance
tr.v. re·in·sured, re·in·sur·ing, re·in·sures
To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company.
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|Noun||1.||reinsurance - 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; "reinsurance enables a client to get coverage that would be too great for any one company to assume"|
insurance - promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company